Wall Street needs to get a grip about
Trump’s tariffs
Posted By: Moritz55, 4/8/2025 4:41:59 PM
It’s time for Wall Street to get a grip. The Trump tariff policies are a calculated gamble that the threat of tariffs can fundamentally remake the global economy and retilt it in the direction of the United States — and away from China and other beggar-thy-neighbor countries. But whether they work or not, Wall Street elites have convinced themselves that these tariffs are worse than the pandemic that stopped the entire economy, or the 2009 economic crisis that put 10 million people out of work. And so far, nothing has happened. It’s all speculation about what could happen.
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Many have suspected that Dr. Jill Biden played a key role in saving the country by facilitating Donald Trump's long-awaited return to the White House. Many have assumed the former first lady (and acting president of the United States) was possessed of an insatiable lust for power, which drove her to insist that her enfeebled octogenarian husband, Joe Biden, run for reelection. The ill-advised decision nearly destroyed the Democratic Party when Biden's cognitive impairment became impossible to ignore. It forced the party to rally around Kamala Harris, the most incompetent presidential candidate since Hillary Clinton, all but ensuring that Trump would win a second term
It’s time for Wall Street to get a grip.
The Trump tariff policies are a calculated gamble that the threat of tariffs can fundamentally remake the global economy and retilt it in the direction of the United States — and away from China and other beggar-thy-neighbor countries.
But whether they work or not, Wall Street elites have convinced themselves that these tariffs are worse than the pandemic that stopped the entire economy, or the 2009 economic crisis that put 10 million people out of work. And so far, nothing has happened. It’s all speculation about what could happen.
‘Hands Off’ Irony Is Lost On The Left
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We were bemused at the Orwellian doublespeak of the weekend protests, which were waged under the banner of “hands off.”
Hands off? What the protesters really want is for the government to keep its hands on – on our throats choking out our freedoms and in our pockets stealing our money.
Naturally, the protesters describe themselves as “defending democracy” and the current situation a “crisis.” What else is new?
But this particular effort – reported by most of the press to be “massive,” encompassing, said CNN, “scores of people” (20s of people?) – was more mindless than usual.
Two strange phenomena now characterize the political landscape. One, opposition to the Trump administration’s initiatives has reached a near-unprecedented fever pitch. The frenzy is manifested in strange ways. At the bottom end, there is an epidemic of street terrorism, including the keying of Teslas, bullying their owners, firebombing dealerships, or vandalizing charging stations. All that is mostly the logical but dirty reification of those in the media and the Democrats who brand Elon Musk as a foreign-born counterfeit citizen and a disloyal un-American foreigner, thus deserving to be “taken down,” in the words of Rep. Jasmine Crockett.
“We should replace our piece of crap Constitution.”
Those words from author Elie Mystal, a regular commentator on MSNBC, are hardly surprising from someone who previously called the Constitution “trash” and urged not just the abolition of the U.S. Senate but also of “all voter registration laws.” But Mystal’s radical rhetoric is becoming mainstream on the left, as shown by his best-selling books and popular media appearances.
There is a counter-constitutional movement building in law schools and across the country. And although Mystal has not advocated violence, some on the left are turning to political violence and criminal acts. It is part of the “righteous rage” that many of them
Trump’s Multipronged Tariff Strategy
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After being criticized for saying in an October speech to the Chicago Economic Club that “‘tariff’ is the most beautiful word in the dictionary,” Donald Trump puckishly acknowledged his critics had a point about his priorities. “Let’s put God number one. Let’s put religion number two. Love, I don’t know, we gotta put that number three, I guess, right? And then it’s tariff, because tariffs will make us rich as hell!”
Not everyone shares President Trump’s faith in tariffs, notably the stock markets. The aggregate value of U.S. securities traded on U.S. exchanges is some $6 trillion lower after “Liberation Day,” as the administration’s calculation of the amount
If Trump’s Tariffs Work, It Will Be Epic
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We have no doubt that Leavitt’s prediction will come true. Whether it’s remembered for being a success or as Smoot-Hawley 2.0 remains to be seen.
“It is going to work,” Leavitt said. “And the president has a brilliant team of advisers who have been studying these issues for decades.”
That’s a bit of an odd boast, given that the economists who have been studying tariffs and trade policy for decades had long ago decided that tariffs are a sledgehammer approach that rarely work as intended, that they are a wildly expensive way to create jobs, don’t spur economic growth, protect uncompetitive U.S. firms, and are an ineffective diplomatic tool.
On April 2nd, President Donald J. Trump did something no other modern president has had the spine to do. He declared “Liberation Day” and slapped sweeping tariffs on the very nations that have been gutting the American economy for decades. A 10 percent universal tariff across all imports. Targeted, punitive tariffs up to 34 percent on bad actors like China. And guess what? We should be furious—not at Trump—but at the spineless presidents before him who let things get this bad in the first place. Let’s be clear: these tariffs didn’t start a trade war. They responded to one.
Markets worldwide, and in the United States, took a tumble on Thursday, the first full day of trading following President Trump's tariff announcement. However, beneath the generally negative coverage in the media, there were numerous bright spots.
GM said it had decided to hire more temporary employees at its Ft. Wayne, Indiana, plant to expand production. The Rose Lawn gathering included several auto workers who cheered Trump in anticipation of better conditions for the auto industry in the coming months.
The Biden dam breaks
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During much of the last administration, and especially in its final year, the president of the United States suffered serious cognitive impairment. It wasn’t a secret — 81-year-old Joe Biden frequently had senior moments during public events. What was striking about the situation was that Biden’s staff, fellow Democrats, and allies in the media insisted that he was in good shape and sharp mentally when he obviously wasn’t.
The situation exploded on June 27, 2024, when Biden met rival Donald Trump for their first and, as it turned out, only debate. You know the story. Biden was so out of it that Democrats scrambled
New chat logs released by the House Judiciary Committee this week show the extraordinary lengths the FBI went to behind the scenes to shut down any discussion of Hunter Biden’s laptop in October 2020 after the New York Post broke the story.
The conversations, withheld by the FBI under Director Chris Wray, show that senior leadership issued an internal “gag order” on the laptop.
The FBI had been in possession of the abandoned MacBook Pro for 10 months by that stage, after computer repair shop owner John Paul Mac Isaac handed it over and warned of the potential crimes and national security concerns he had found.
Victor Davis Hanson breaks down why Trump has made maintaining dominance over China a central issue for his administration on this episode of “Victor Davis Hanson: In His Own Words.”
“He’s worried that China is intimidating countries in the Pacific and in Asia. Some of our strongest friends—Australia, South Korea, Taiwan, the Philippines, Vietnam. Saying things like, 'The United States is in decline. You better cut a deal.'"
“ China is ascendant and we are static," he says.
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The cuts made to the so-called “foreign aid” agency USAID (which doesn’t actually have humanitarianism as its primary purpose) in the first days of the Trump 2.0 administration affected various global vaccine initiatives, many of which were pet projects of self-styled philanthropist Bill Gates.In an attempt to ensure these projects remain federally funded, Gates has reportedly been quietly lobbying the administration behind the scenes to protect the billions that flow to his “non-profit” ventures.
Putting aside the ultimate question of why Bill Gates isn’t under a federal prison, why do we allow creatures like this to slink around the White House trying to convince Trump,
The acting head of the Internal Revenue Service will resign in the wake of a deal struck on behalf of the agency that will see it share tax data on undocumented immigrants.
Melanie Krause, a commissioner at the IRS who is the third person to serve as its chief since the start of the year, will pack up her desk as part of the deferred resignation program offered by the Trump administration, the Treasury Department announced Tuesday.
The news of her plans to leave the federal agency comes less than a week before the deadline for individual tax returns.
Chinese producers of plastic Christmas trees and other festive decorations say orders from U.S. clients, which are crucial for their business, should have started to come in by now. But because of surging import tariffs, they haven't.
U.S. President Donald Trump has raised tariffs on Chinese imports by 104% so far this year in an escalating trade war that threatens great pain for the world's largest exporter of manufactured goods.
U.S. retailers are almost completely reliant on China for Christmas decorations, where they source 87% of such goods - worth roughly $4 billion. Chinese factories are also heavily dependent on the U.S. market, where they sell half of what they make.
Senator Adam Schiff on Wednesday called on Congress to investigate whether President Donald Trump engaged in insider trading or market manipulation when he abruptly paused a sweeping set of tariffs, a move that sent stock prices skyrocketing.
“I’m going to do my best to find out,” Schiff, a California Democrat, tells TIME. “Family meme coins and all the rest of it are not beyond insider trading or enriching themselves. I hope to find out soon.”
Schiff’s comments regarding a formal inquiry, which has not been previously reported, came soon after the S&P 500 surged more than 9% Wednesday afternoon after Trump announced the tariff pause.
On Tuesday’s broadcast of CNN’s “The Source,” Senate Minority Leader Sen. Chuck Schumer (D-NY) responded to a question on whether Democrats should have reclaimed congressional power on tariffs when they were in the majority during the Biden administration by stating that “Congress has always had the power to deal with tariffs, and we’ve always had these fights in the past on some of the tariff issues as well. But now that Trump is going so overboard, Congress can, has every legal authority to take those powers back, and that’s what we aim to do.”
Host Brianna Keilar asked, “On the tariff issue, you’ve been in the Senate for more than
ABC News anchor George Stephanopoulos reportedly said his post-debate interview with former President Joe Biden was "heartbreaking up close."
Chris Whipple's new book, titled "Uncharted: How Trump Beat Biden, Harris, and the Odds in the Wildest Campaign in History," which was released on Tuesday, recounted behind-the-scenes conflicts between members of the Democratic Party and the Biden administration over whether Biden needed to step out of the race after his disastrous debate with then-candidate Donald Trump on June 27.
To "staunch the bleeding" of Democrats beginning to publicly call for replacing Biden on the ticket, Whipple wrote about how the White House accepted an interview
Americans have seen a lot of Tim Walz lately as the failed vice-presidential candidate has held town halls nationally criticizing national Republicans. In a telling interview, he admitted to the New York Magazine this week, “90% of the time, I can be really good, but about 10% of the time, I can be a train wreck.”
And in an interview with Jake Tapper that was itself something of a train wreck, he rejected the conclusion that every American with a pulse now acknowledges: that Walz and other Democrats should have forced Joe Biden off the presidential ticket in light of his obvious cognitive decline.
China is slapping 84 percent tariffs on U.S. goods from Thursday, ramping the impost up from the 34 percent as previously announced, its finance ministry said on Wednesday.
Beijing’s hurried move is just the latest shot in an international trade war sparked by U.S. President Donald Trump as he works to level the playing field for global trade after China’s President Xi Jinping refused to withdraw retaliatory tariffs placed on America, as Breitbart News reported. Last week, Trump announced reciprocal tariffs on countries that have historically imposed high tariffs on the U.S., including China, which faced a 34 percent tariff in addition to existing tariffs on its goods.
President Trump wants to get America’s vast army of “dropout” men back into the workforce. Attention to this problem is long overdue.
Nearly 7 million men in the prime of life — over a tenth of the 25-to-54 age group — are neither working nor looking for work these days.
But Team Trump is trying to fix the problem with the wrong tools.
They argue that trade policy (tariffs) and industrial policy (special treatment for manufacturing) will reverse the long-term flight from work by men, by creating high-paying jobs to lure them back to work.
This approach may sound sensible to some. Unfortunately, it is likely to fail
Mia is no longer with us at Townhall, but before she left for the Washington Examiner, she wrote a harrowing and tragic story about a fatal stabbing at a high school track meet in Frisco, Texas, last week: (X Video) 17-year-old Karmelo Sincere Anthony is accused of killing Austin Metcalf, 17, around 10 a.m. at the sporting event, a track-and-field championship involving several Dallas-area schools in Frisco, Texas.
Metcalf, a junior at Memorial High School, was in the stands when he was fatally stabbed following an altercation over a seat.
New Mexico Gov. Michelle Lujan Grisham (D) has declared a state of emergency for Albuquerque, ordering the National Guard to help combat crime in the state’s largest city. “The safety of New Mexicans is my top priority,” Lujan Grisham said in a statement. “This partnership represents our commitment to addressing the fentanyl crisis and juvenile crime with every resource at our disposal.” Lujan Grisham, a former member of Congress who is term limited, said the New Mexico National Guard will assist Albuquerque police with essential duties so the city’s law enforcement officers “can focus on what they do best — keeping our communities safe.”
Former first lady Michelle Obama has hit back at rumors she and husband Barack are headed for divorce, blaming the rampant speculation on her decision to exercise her newfound independence.
The 61-year-old broke her silence on Sophia Bush’s “Work in Progress” podcast Wednesday after the Obamas were dogged by gossip that their marriage was on the rocks when she opted to skip several high-profile events earlier this year — including President Trump’s inauguration.
“The interesting thing is that, when I say ‘no,’ for the most part people are like, ‘I get it, and I’m OK,’”