Summary
Trump had to reverse his aggressive tariff rhetoric after CEOs from Walmart, Target, and Home Depot warned of empty shelves and higher prices due to supply chain disruptions.
Investors reacted negatively to his threats against Fed Chair Jerome Powell, prompting a market sell-off.
Trump backtracked, expressing optimism on a China trade deal and now denying plans to fire Powell.
Global markets remain volatile, and the IMF cited Trump’s trade war as a “major negative shock” to global growth.
Nothing says “I am the master of making a deal” like having to back off of nearly all of them every time anyone calls your bluff.
I’ll never see how so many think Trump is one of the smartest people in any room.
He’s a slumlord, just like his father. It is just unfortunate that the entire country will be his shitty government housing block by the time he gets done with it.
Trump just allowed Republicans to be racist and bigoted out in the open without censure. They saw how trump doesn’t get much flak for his bigotry
“He’s rich so he must be smart. You have to be smart to get that rich. This must all be part of the plan for the smart rich guy.”
Mix that in with a ‘Just World Fallacy’ (Good people succeeded and bad People fail. Therefore anyone who has as much wealth and power as Trump must be a good person worth listening to) and you have the people who support Trump.
Worthington’s Law.
Yup. That’s my dad. He’s confused now. He thought musk and Trump were smart because they were very wealthy. He’s finding it hard to understand that these people just inherited their wealth, and they’re able to be visible in the public eye, make money and take risks because of how much they have and not because they’re smart. Their arrogance is funny - Ie: musk unable to find the relationship between his nazi salute, his work at DOGE, and decreasing revenue in Tesla. Never heard of causation.
You could’ve just said trump supporters to dumb af
Didn’t I?
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Honestly i saw so many interviews during his first run with trump supporters that said exactly that first phase you said
Way to entrench the status quo benefiting the rich. Get people to believe only the rich are smart and therefore worth listening to.
Much of the US (and developed-world) media is devoted to licking the boots of the rich and famous. There are PR firms that exist solely to feed the bootlicking pipeline, and to launder the reputations of the loathsome shits who think they’re entitled to own us all.
People have been calling him the biggest blowhard in the world since he got his first start in the 1970s. Enough people believe him for him to be relevant, sadly.
I wish he reversed his “deals” but it looks like he’s only reversing on China? So a big “fuck you” to american manufacturing while also helping our number 1 enemy.
The whole thing is a giveaway for China to step into America’s role on the world stage. I don’t think that can be undone at this point. It’s obvious that the US is not a stable, rational trade negotiator. Who wants to have their currency reserves under a country like that?
That depends on how comprehensively we root out Trump, those behind him, and all their works. It’s not going to be easy, we’re going to need to strip this ramshackle structure down to the joists, after having tented it for termites.
I don’t think that’s possible. Not to the degree that would rebuild trust in a reserve currency. Once that money starts moving to something else, it’s gone. There would need to be a big incentive to come back, and it’s not clear what that would be.
The change would have to happen before any major moves happen. But then, just the fact that US policy is flip flopping so quickly is itself reason to mistrust it as a reserve currency. How do you know it won’t flip right back?