The legacy of how Donald Trump presided over the fastest reversal of America’s economic fortunes in modern times is already engraved in historical stone. He took a nation with the strongest financial profile in the world, and has led it into a debacle that is dragging the rest of world down with it.
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This fiasco was 100% generated by the ignorance, arrogance, and ego of Trump, and was completely unnecessary. His boneheaded blanketing of tariffs on nearly every country across the globe (except, of course, for Russia), has resulted in the worst stock market crash since March of 2020, in the midst of a deadly pandemic that he also mismanaged with deadly consequences. And he has no idea whatsoever what to do about any of it.
SEE THIS: TRUST IN TRUMP? That’s the Only Solution Offered By the Trump Cult to Counter His Disastrous Tariffs
On Monday morning, Fox News Senior Trump-Fluffer, Maria Bartiromo, hosted a segment of her program to discuss Trump’s deliberate destruction of the American economy. And her commentary was somewhat out of character for someone who is such a reliable devotee of the Trump cult. But that just reinforces how extraordinarily ghastly Trump’s bungling of the business of America has been. When asked about what the impact of Trump’s tariffs will be, she said…
“Well, it is going to have an effect on Main Street. Some things will become higher priced. We will see some products actually be raised in price because companies will pass on the cost of tariffs to consumers. I would expect that.
“That’s why you have some people saying that we could see a recession. We’ll see a growth slowdown. […] U.S. real GDP is on track to decline about one percent in the second quarter, and in the third quarter with unemployment rising.”
You don’t say? This is what credible economists have saying for months. It is a complete repudiation of Trump’s preposterous lies that foreign countries are the ones who pay the tariffs. Bartiromo is acknowledging that it is the domestic importers who pay, and then pass those costs on to consumers. How long will it be before Trump denounces her as a radical left lunatic spreading fake news?
Bartiromo went even further to acknowledge that a recession is a probable outcome of Trump’s idiocy. Although she doesn’t put it in terms quite as stark and accurate as that. In fact, Bartiromo actually appears to have chickened out at the end of her remarks, saying…
“But look, President Trump told us that we were going to see a disruption. We are in that disruption right now. The bottom line is when you’re looking at this situation from 30,000 feet above, he’s trying to rejigger the economy so that the U.S. is not reliant on China for prescription drugs, or Taiwan for advanced semiconductor chips, to try to get manufacturing here. So yes, I do expect this to hit the Main Street and hit prices that will go higher.”
See? It’s all part of Trump’s grand plan. He isn’t throwing the nation into an economic sinkhole. He’s just “rejiggering” it to increase domestic manufacturing. Never mind that tariffs would have the opposite effect because no manufacturer would invest billions of dollars, and several years, to build new factories when Trump’s policies are so unstable, unpredictable, and detrimental to growth.
What’s more, President Biden already got semiconductor, and other tech companies, to commit to domestic production without imposing devastating tariffs. See the CHIPS and Science Act of 2022.
Bartiromo isn’t the only MAGA maven to concede that Trump is sabotaging the U.S. economy. CNN is reporting that a gaggle of billionaire Trump supporters are hammering his economic policies. They are warning of an “economic nuclear winter,” and using terms like “recession,” “stupid, wrong, [and] arrogantly extreme.”
Trump has done a lot of dumb and dangerous things in the few weeks since his reoccupation of the White House. Including shuttering critical government services that will cost lives, firing independent inspectors general, threatening Social Security and Medicare, deporting citizens and legal residents to El Salvadorian gulags, and attacking and suppressing the free press.
But with his appalling economic policies Trump may have angered the one group that he actually cares anything about – his fellow wealthy, uppercrust elitists and greedy oligarchs. Or as he will shortly start to refer to the: radical left lunatics.
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- Fox News to Retirees: STFU About the Huge Losses Due to Tariffs, Because It’s Just Like Wartime
- PHEW! Trump’s Billionaire Commerce Secretary is Cool If His Mom’s Social Security Doesn’t Come
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