Down goes the stock market
When President Biden left office, he left us with a grand economy, a great big soaring bird of an economy that was flying high, over the heads of ineffective republicans, letting her wings open and gifting us with a plethora of new opportunities, new jobs and a vision for the future. Then Donald Trump came in and put a stop to that.
The Dow Jones has done an Icarus and has fallen over 400 points after Donald Trump announced this week he’s not yet done with his crazy idea to implement tariffs. This is getting to be a regular occurrence. This week, new tariffs; next week, new tariffs. My gosh, when will it end?
Not nearly soon enough. Trump announced that he would declare reciprocal tariffs on Friday, plunging the Dow Jones into chaos and alarming Economists everywhere. This does not surprise Palmer Report as we have said numerous times if there was a bad idea floating out there, Donald Trump, will gallop (or in his case, waddle) forward and sink his teeth into the idea, leaving bite marks.
At this point, NOBODY, absolutely NOBODY, knows what in heck Donald Trump is doing. I doubt Donald Trump knows what he is doing. I do know that all of this craziness are already detrimental to our economy. You can’t, you simply can’t DO this and not expect the economy not to suffer dire consequences.
I’m not even a professional economist, and I know this. Anybody with one brain cell knows this: We are living in uncertain times, and there are threats all over the place of jobs lost, businesses shuttering, and prices of food and lumber and oil and gas skyrocketing.
It’s like there is not one person in the Trump administration to guide him and pure incompetence rains. Donald Trump says whatever thought comes into his mind without thinking about the ramifications of his words and actions. In this case, as it relates to the economy, the consequences maybe dire.
Donate $5
Donate $25
Donate $75
Much thanks,
Bill Palmer
Palmer Report
