The Week Trump Crashed
You don’t need me to tell you that Donald Trump had a ghastly week. But I will anyway.
By the COB Friday — after the worst 2-day wipeout in history — the stock market had lost $11 trillion since Inauguration Day. Despite all the Baghdad Bob happy talk from the MAGA crowd, this is a dumpster fire of hubris, incompetence, delusion, recklessness, and political malpractice.
It was, in other words, Trump 2.0 in Full; and it’s impossible to ignore. After Trump’s bizarre tariff hikes, JP Morgan now estimates that there is a 60 percent chance the economy will be plunged into a recession.
Nate Silver: “It’s hard to think of any occasion when America dealt itself such a self-inflicted economic wound.”
Kevin Corinth and Stan Veuger from AEI: “President Trump’s Tariff Formula Makes No Economic Sense. It’s Also Based on an Error.”
Matt Labash: “Trump’s tariff war is so stupid and destructive — whatever you do, don’t look at your retirement fund right now — that even former sycophants like Mike Pence and the Wall Street Journal editorial page are trashing it. Pence is calling it “the largest peacetime tax hike in U.S. history.” … It seems Trump has about as keen an understanding of economics as he does of rule of law, democracy, or morality.”
Daniel Drezner: “[There] there was no process. There are no power brokers. On questions of trade, there’s Donald Trump’s whims, his collection of clown car enablers, and maybe an intern who plugs some things into ChatGPT. That’s pretty much it.”
Via the Wapo: “He’s at the peak of just not giving a f--- anymore,” a White House official with knowledge of Trump’s thinking told The Post. “Bad news stories? Doesn’t give a f---. He’s going to do what he’s going to do. He’s going to do what he promised to do on the campaign trail.”
And Donald Trump posted this. really. Seriously. He did.
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ICYMI: A week of contrarianism
Sunday
Monday
Tuesday
Wednesday
Thursday
Friday
Saturday dog
Eli monitors the fat squirrels at the bird feeders.
Two Years in Two Days. That is the income that Donald Trump has taken from me, personally, in two days. I worked until age 70, saving all along for retirement. Now my savings is withdrawn as if it were an annual income which I distribute over the remaining number of years which I expect to live. Donald Trump just took two years of my income. And it took him only two days to do so. Furthermore, he expects me to pay him tithes. Tithes through the tariffs which he will spend as he sees fit. I am not part of his religion and I don't want to pay him tithes after he committed fraud, waste and abuse by taking my income. He didn't need to do this and we will all be worse off due to his malfeasance. Years in Two Days is Fraud, Waste and Abuse.
I love that spot on that couch for dog pix!
I doubt trump noticed his bad week as he was golfing and banquet ing
while others suffered and died -- including four servicemen honored by the Lithuanian people but not the US Prez or Republicans. I awoke wishing I was in Lithuania...