President Trump: Making America Great Again...

[Northwestcoug]

I'm beginning to think that Trump runs the country with a cabinet of essentially 3 people: Navarro, Loomer, and Hegseth.

[RC Vikings]

I'm beginning to think that Trump runs the country with a cabinet of essentially 3 people: Navarro, Loomer, and Hegseth.

I'd put Lutnick on that list also, he seems like the ultimate butt kisser.

[Northwestcoug]

I'd put Lutnick on that list also, he seems like the ultimate butt kisser.

Yeah but he's the more 'Bagdad Bob' guy. Navarro seems like the person who always has Trump's ear on insane economic theory.

[USUC]

I'm beginning to think that Trump runs the country with a cabinet of essentially 3 people: Navarro, Loomer, and Hegseth.

I think Vance has way more influence than Hegseth. I think he is setting the foreign and defense policy for the administration. He also has a history of supporting economic nationalism so he isn't playing devils advocate against the smooth brained Navarro.

Elon Musk's silence about economic policy is interesting. A few months ago he was posting Milton Friedman quotes.

[Maximus]

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oh my

[chrisrenrut]

Not even a traditional dead cat bounce in the market today. It seems everyone knows what a dumb policy this is except Trump and his Fox News following MAGA-ites.

[falafel]

Sorry. I'm a dope. A belated .

And thanks for the note on why "Drill! Drill! Drill!" is not going to happen under decreasing prices points.

Its "Drill, Baby, Drill!"

[myboynoah]

Its "Drill, Baby, Drill!"

I said I was a dope. A chill dope.

[BlueK]

The market down nearly 10% in just two days. That's huge.

[frank ryan]

Trump is not a business genius

[Moliere]

Not even a traditional dead ct bounce in the market today. It seems everyone knows what a dumb policy this is except Trump and his Fox News following MAGA-ites.

Just guessing here but I think we would have seen a dead cat bounce this morning if China hadn't retaliated. I don't think that bounce would have last and we'd likely have had a down day. But with China retaliating the market is now haywire. Some of the drop is likely an overreaction but the majority of it is a true drop in value. Stock prices are, at their crudest, just a discounted amount of future cash flows for the company and what the market is doing is readjusting those values based on lower cash flows because companies will (1) have to pay the tariffs and likely can't pass on 100% of the cost to consumers although they'll pass most of it on and (2) due to an anticipated global slowdown in trade and economic activity because it's more costly to do business as Americans.

I kind of wish I was in an economics class right now to study this real time as this will be a fascinating situation and likely be studied for decades to come.

Also, I'm generally in the camp that the president has a lot less influence over the market than most think. However, in this case, the President is literally the one doing this and should be blamed for all of it...although Congress shares in the blame for giving the right to the President and not working to stop him. I wrote to my Representative yesterday, which is the first time I've ever done that. He's a GOP rep and I voted for him but if he doens't stand up to help stop this then I'm not voting for him again.

[USUC]

Just guessing here but I think we would have seen a dead cat bounce this morning if China hadn't retaliated. I don't think that bounce would have last and we'd likely have had a down day. But with China retaliating the market is now haywire. Some of the drop is likely an overreaction but the majority of it is a true drop in value. Stock prices are, at their crudest, just a discounted amount of future cash flows for the company and what the market is doing is readjusting those values based on lower cash flows because companies will (1) have to pay the tariffs and likely can't pass on 100% of the cost to consumers although they'll pass most of it on and (2) due to an anticipated global slowdown in trade and economic activity because it's more costly to do business as Americans.

I kind of wish I was in an economics class right now to study this real time as this will be a fascinating situation and likely be studied for decades to come.

Also, I'm generally in the camp that the president has a lot less influence over the market than most think. However, in this case, the President is literally the one doing this and should be blamed for all of it...although Congress shares in the blame for giving the right to the President and not working to stop him. I wrote to my Representative yesterday, which is the first time I've ever done that. He's a GOP rep and I voted for him but if he doens't stand up to help stop this then I'm not voting for him again.

I wrote both John Curtis and Mike Lee on Wednesday. Curtis' office sent back a ambiguous reply about how he didn't like tarrifs but will wait and see. Nothing yet from Lee's office. My congressman doesn't even have a way to write him. So I'll probably call his office.

[USUC]

Lol

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[myboynoah]

Just guessing here but I think we would have seen a dead cat bounce this morning if China hadn't retaliated. I don't think that bounce would have last and we'd likely have had a down day. But with China retaliating the market is now haywire. Some of the drop is likely an overreaction but the majority of it is a true drop in value. Stock prices are, at their crudest, just a discounted amount of future cash flows for the company and what the market is doing is readjusting those values based on lower cash flows because companies will (1) have to pay the tariffs and likely can't pass on 100% of the cost to consumers although they'll pass most of it on and (2) due to an anticipated global slowdown in trade and economic activity because it's more costly to do business as Americans.

I kind of wish I was in an economics class right now to study this real time as this will be a fascinating situation and likely be studied for decades to come.

Also, I'm generally in the camp that the president has a lot less influence over the market than most think. However, in this case, the President is literally the one doing this and should be blamed for all of it...although Congress shares in the blame for giving the right to the President and not working to stop him. I wrote to my Representative yesterday, which is the first time I've ever done that. He's a GOP rep and I voted for him but if he doens't stand up to help stop this then I'm not voting for him again.

I'm interested in how he responds. Congress has been totally absent in its checks and balances role since Trump came in. I wonder how much longer they will hang on. Early on I wrote to new Utah Senator Curtis about DOGE and the role of Elon Musk. Such a disappointing "political" parsing of words and eventually supportive of Musk. Did nobody even want to call Musk in for a hearing?

[myboynoah]

I wrote both John Curtis and Mike Lee on Wednesday. Curtis' office sent back a ambiguous reply about how he didn't like tarrifs but will wait and see. Nothing yet from Lee's office. My congressman doesn't even have a way to write him. So I'll probably call his office.

Ha. Exactly. What a waste of space.