'He's done basically nothing': Expert scoffs on MSNBC after Trump's major 180

[moe]

Declare a trade war on the world using nonsense numbers. He has mental issues, seriously.

'He's done basically nothing': Expert scoffs on MSNBC after Trump's major 180

In January 2025, tariff levels were low in just about every country around the world until Trump "jacked ours up," Wolfers said. "He's going to pull ours back down. He's going to make deals. But we saw this act in the first Trump administration. He tore up NAFTA. He basically just sticky-taped it back together and gave it a new name, the USMCA. And we all ended up back where we were to start with. That's where I think we're heading."

 

[Gunny46]

Tariff news... ‘Liberation Day' was a week ago... Trade WAR w/ the ccp.... 125% tariffs added to the ccp today... and a 90-day pause

westvirginia.forums.rivals.com

 

[moe]

Most of what happened today is obvious. And I’m no expert on macro- or international economics. But allow me a few observations. Start with the obvious: Trump rolled out an absurd policy which on its own terms would need to be held to for years to have any hope of success. After repeated pledges never to relent, he caved after one week. He now looks like an even bigger fool and menace on the international stage than he already did which is a feat of some magnitude. I also doubt he undid the damage he’s done to himself domestically as a custodian of the nation’s prosperity. Perhaps most of all he looks weak, reckless and stupid.

The one additional thing to mention is why this happened. Every sign is that it was not about the equities markets but rather the bond market, where the demand for US Treasury bonds seemed to be softening as the global economy moved into crisis. That defies all the rules of the 21st century global economy. It means either something very, very bad or something armageddonly bad. The first is that banks and hedge funds and other big financial muckety-mucks were under so much cash-crunch stress that they were forced to liquidate Treasuries at any price. That points to a real danger of being on the precipice of a 2008-style financial crisis, albeit with very different drivers. The other possibility was that global buyers were losing the confidence in US Treasury debt itself which is basically the sheet anchor of the modern global economy. Take that away and things get much worse for the United States and our global primacy starts to evaporate.

 

[Gunny46]

50 cent Army super mad right now.