It objectively is. Black Monday dropped by 508 points so it doesn’t make this list despite the Dow losing 22.6% of its market cap, the most ever. The largest Trump loss in Covid was 13%.
Making sense of Trump's tariff policy: This is from Michael Shellenberger's account on X (Twitter) @Shellenberger . You have to subscribe to his account to get the full video. Donald Trump is destroying the global economy, according to the media, Democrats, Europeans, and libertarians. The stock market is crashing. His administration is randomly and arbitrarily imposing tariffs, they say. And his tariffs are on the verge of causing a self-destructive global trade war. But policy should not be based on the daily movement of the stock market. The tariffs are not random or arbitrary but instead are based on a publicly released formula. And a trade war will lead to a much better outcome than the path Americans have been on. So says @oren_cass , founder of the think tank @AmerCompass and one of the leading advocates of Trump’s nationalist economic policy. Based on Cass’s resume, one would predict him to be a Never Trump Republican, not a MAGA Republican. He is a Harvard Law graduate who worked at Bain & Company and became the Domestic Policy Director for Mitt Romney at the shockingly young age of 29.
To all the globalists here that thought We The People had to live in a world dictated to us by the UN, EU or the WEF... Lol. Trump's tariffs are working to reorganize the NWO into a world of free sovereign nations. Looks like the best thing about fixing our broken foreign trade deals has a significant side effect... the EU and other globalists nations could not live on their own, that is without stealing massive cash though bilking the American workers though their own onerous tariffs on American goods. Like I've been saying here for over ten years... Globalism another word for China-ism.
In the entire history of the fed they have never once cut rates with rising inflation. It's like saying to cut a hole in the bottom of the sinking boat to let the water out. Otherwise intelligent people losing all sense of reason and intellect. Nope, not a cult
Read where California is moving to negotiate their own exports. Pretty interesting and not sure if possible or the ramifications. But considering they are still what, the 5th largest economy in the world? Governor Newsom directs state to pursue strategic relationships with international trading partners; urges exemptions of California-made products from tariffs | Governor of California
It's fine you believe this. Let's say everyone on the board agrees this is the case. His current tarrifs policy is the worst possible way to fix this. This is not something that can fixed in 1-2 years, more like 3-10. This is just a massive tax increase. That is what everyone is up in arms about. We all think it is going to have the opposite affect, and weaken the US. (If you agree please hit the hart icon)
I’m not sure how that would work. Sure, they could negotiate a deal for California goods but the goods coming into California would still be subject to the US tariffs. So why would a country negotiate that deal for California when this is what Trump, Lutnick, and Bessent are pushing for? I guess a minor point could be made where states that didn’t vote for Trump get an exception but I don’t know that it’s worth the squeeze for other countries.
I'm OK with totally wrecking the US economy and destroying tens of millions of lives here in this country. Just as long as it keeps the penguins from bringing fentanyl into the US.
You’re celebrating that we lit not only our own money on fire but the money of everyone else’s in the world that could buy not only our goods but our services? JFC, you’re too much. You don’t have a clue what you’re talking about. The global economy isn’t a boogeyman, it isn’t a cabal, and it certainly wasn’t screwing over the largest and best economy in the world. It’s something we literally require. Blowing it up does us no good.
So let’s ignore the 1,000 economists who say that this policy is bad to find the one contrarian who thinks it is fantastic?
This stuff happened under him period....full stop..and as someone who embellishes facts all the time and pretty much lies about everything including his name several times why not just throw out half the story like he does every time. Matter of fact just add another zero to every one of these down days for shitz and giggles. Make a 1,500 point drop 15,000 drop when you show this stuff and then say Warren Buffet said it was true even though he didnt...invite Kid Rock or Kanye to the White House when you show the chart too. Oh and miscalculate the whole damn thing and crash the global economy while were at it.
...and they were gleefully reporting how beautiful the new hamburger Emoji is...spent a half hour on that one.
Wow, that guy is either a shameless liar or really quite stupid. Claiming something isn't arbitrary because there is a formula is next level dumb. Let's follow along with reality. The White House claims that they have a formula for determining tariffs and non-tariff trade barriers. In reality, they simply divide the trade deficit by country by the total imports from that country. This is clearly not an estimate of tariffs and non-tariff trade barriers. It is a percentage trade deficit. So how do they claim that it is? They claim that bilateral trade always balances without trade barriers. This is next level stupid. Of course bilateral trade doesn't always balance. Anybody who has taken and understood even the most basic of econ classes could tell you that. Heck, I'm not sure you even need that. Then, they put out this "formula," in which they included two more terms in the formula, both in the denominator (the elasticity of import demand and the elasticity of import prices). Now, how did they determine the value of these parameters? They assumed them. They assumed that the elasticity of import demand is 1 and that the elasticity of I port prices is 0.25. The funny part of this: these are completely arbitrary and, in the case of the elasticity of import prices, shown to be wrong by the paper they cite, which finds that this term should be 0.945. But when you multiply these terms, it results in them disappearing, which the White House didn't realize, apparently, because that math is too complicated. Now, this formula may also give them results that they don't like, showing trade deficit that are very small. So what do they do about this? They truncate it at 10%. Why 10%? They randomly selected that number because it is round and that is the number that they wanted. As such Cass' argument of "It can't be random and arbitrary because they had a formula" is so dumb as to make me wonder how he dresses himself in the morning.
Trump's followers are just proud that he's doing something about the debt. Even if he's making it worse, because "sometimes you have to blow it up to make it work right." They are currently working on an excuse for when he blows it up and it does not get fixed.
