4mo ago

Trump made the stock market a marker of success. Now he's hedging as markets dip.

www.nbcnews.com Trump made the stock market a marker of success. Now he's hedging as markets dip.

Trump has long touted the market's success in office. Now, he's taking a different view as stocks have tumbled, with the S&P 500 having its worst day since September.

Summary

Trump previously touted the stock market as proof of his success, but he's now downplaying the stock market as markets tumble due his tariffs imposed on Canada, Mexico, and China.

The S&P 500 has lost all gains since Trump's election.

Critics warn tariffs risk recession and manufacturing setbacks, but Trump insists on a temporary "period of transition," claiming tariffs will eventually "make our country rich again."

The White House insists Trump's economic policies will succeed long-term, despite warnings from investors and economists of significant economic disruptions ahead.

24 comments

At this point, I think it's deliberate.
Crash the economy, let his buddies buy up stocks at pennies on the dollar, and then wait for the next President to clean up the mess.
- Next president? Clean up the mess? That step is not in the playbook my friend. This will continue until they die.
  
  This will continue until ~~they~~ we all die.
  FTFY
  
  Clinton cleaned up Reagan/Bush and Obama cleaned up Bush Jr. and Biden cleaned up Trump...
  starting to notice a pattern??
- Everything he's doing is deliberate in order to weaken the US. He's beholden to foreign powers who want to see the US fall, and he's making it happen. Otherwise he wouldn't be pulling out of Ukraine and closing USAID and destroying NATO/WHO. Republicans might make a lot of noise about those things, but we benefit from the soft power and the defense spending. If our allies start building up their own internal military, we're going to see a bust in our military industrial complex, and generally that's a republican darling. I'm not pro military industrial complex or anything, but there would be better ways to dismantle it than pissing off some of our longest standing allies. Additionally, deaths and pandemics are bad, but also bad for the economy. Even Republicans know that. There's no reason to let measles and avian disease run rampant, even from a purely financial position. I have no idea why else he'd be doing these things unless he was purposefully speed running the fall of a nation.
  
  It's interesting that he's pissing off the CIA and FBI. I can't imagine that a bunch of trained investigators would have a lot of problems finding out the kompromat Putin is holding. And I'm sure there are a few people close to Putin who wouldn't mind seeing it come out.
- https://loops.video/v/70kc87BUqc

As a millennial who graduated right around the Great Recession, the stock market collapsing is refreshingly mundane compared to all the other actions this administration has taken.
- I mean I don't WANT my eye plucked out, but it sure beats having my skin flayed!