The financial markets fall for the second time in a row, in the middle of global panic and the fear of investors before the introduction Tariff on foreign imports through Donald Trump. Economists warn that the president’s measures not only the United States, but the whole world in the risk of one global recession bring. And that the American working class will get acute economic problems.
Don’t worry, says Trump. He apparently plays chess while the world plays lady. Whatever that means. Even some of his most prominent supporters from the Republican Party do not believe him.
On Friday morning the president shared a link On Truth Social for a video. The supposedly claimed that he “deliberately brought the market to the crash”.
The one -minute video – originally on March 15th on Tiktok Divided – is older than the president’s customs announcement on Wednesday. It states that “Trump the Stock market lets it crash by 20 percent this month. But he does it on purpose. […] Here is the secret game he plays. And it could make them rich. “
“This is a bold move, but it works”
The video claims that Trump tries to “put cash in government bonds, which forces the Fed to lower the interest rates in May. And these lower interest rates give the Fed the opportunity to refinance trillions of debt very inexpensively. It also weakens the dollar. And lowers the mortgage interest. This is a daring move, but it works.”
“What about his tariffs? I tell you that this is a brilliant move,” the video continues. “In fact, it forces companies to build here to avoid them. It is also forcing farmers to sell more of their products here in the USA to significantly reduce food prices. We have already seen it with eggs. Remember that 94 percent of all stocks belong to only 8 percent.
Sounds dubious and is completely invented? Don’t worry, the video points out that the super -rich Warren Buffett “has just said that Trump has made the best economic decisions he has seen for over 50 years”. Only Warren Buffett never said that. He described Trump’s proposed Customs regime actually as a “act of war”.
“I mean, the tooth fairy doesn’t pay it”
“Over time, they are a tax on goods,” said Buffett in March and emphasized that tariffs are usually paid by consumers, since the companies pass on the increased price of the goods to the sales point. “I mean, she doesn’t pay the tooth fairy,” he said.
In a conversation with Rolling Stone Have several close allies of Trump and government officials who often defend Trump’s most fanatic actions, outbursts or politics, did not bother, or would not even bother to defend the wisdom of a president who gives the world the idea that he deliberately crashes the stock market.
“I have no idea,” says Newt Gingrichthe former spokesman for the House of Representatives and informal consultants from Trump when he was asked for the video on Friday morning. And why Trump would take the view that a deliberate crash of the stock exchange is a good policy. “I didn’t know that he did it and I have no comment because I literally have no idea.”
Gingrich presented Trump as a master negotiator this week in the massive trade war that the president just started.
Former high -ranking employees in Trump’s environment also had no idea why a reasonable person should deliberately crash the stock exchange. “I recently seen some contributions on social media in which the crazy claim was made that Trump deliberately brings the stock exchange to a crash,” says Marc Short, who worked as a director for legislative matters in the White House for Trump and as a top consultant for Mike Pence. “I assume a way to move the Fed to an interest rate reduction would be To bring the economy into a crash. But that seems to correspond to the view of the mercantilists in this government that a crash of our economy is a way to solve the trade deficit. If the Americans can no longer afford the purchase of goods and services, this solves the trade deficit. Somehow I lack the words. “
Customs as a shock effect
A large donor from Trump – a wealthy person who is interested in things and shares – simply sends several crying emojis Rolling Stone. And comes to the conclusion that the new trade war and Trump’s obvious message that it intentionally torpedo the stock market are “not good”.
Another official from the Trump government says: “You have to see the positive where you can find it. And at the moment there is very little of it.” A long -time employee of Trump and allies of the White House was also amazed at the public advocacy of this political view by the president. And added: “In all the instructions we received from the government on this topic, I do not remember that we have ever heard that we should say that President Trump deliberately crashes the market.”
The White House did not react immediately to a request for comment on the president’s contribution.
As already from the Rolling Stone reported,, Say advisors who are close to the president that the tariffs were not based on careful economic calculations, but on the shock. “The president is not a number person per se. But President Trump has emphasized large numbers that would make other countries to treat us fairly. And I think you can see today that these numbers are enormous,” said a Trump official.
Most Americans do not adapt to a blessing of money. But on a long -lasting economic emergency. The stock market crashes and hits retirement provision and the 401ks of the working class hard. On Thursday, the global financial company JP Morgan Chase increased its global Recession risk indicator to 60 percent. As Stuart Varney from Fox Business put it on Friday morning during his reporting on the sale of the market: “This is a probability, not a possibility.”