Trump's Tariff Two-Step, Bessent's assent, and Bad news about Bonds
If there weren’t people’s pensions and paychecks in play, Donald Trump’s trade policy fiasco might be laughable.
Since Trump took office, the stock market lost $11.2 trillion. Two weeks ago, the stock markets lost $6 trillion.1
The S&P 500 is down 15% and both NASDAQ and the Russell 2000 are down more than 20%. While the markets are too volatile to be predict a recession, the stock market has gone from bull market to bear market, before anyone could put their dancing shoes on.
Meanwhile, Donald Trump’s trio of economic advisors: Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Policy Advisor Peter Navarro have been vying to be economic policy guru/P.R. man on the imploding global trade war Trump unleashed with his rudderless trade plan.
Bessent seems to be in charge which means he’s get to throw Lutnick and Navarro under the bus before he takes the fall for Trump’s economic chaos.
Meanwhile, it was someone’s job to tell Trump that China is America’s biggest bond holder rendering his trade war into a weird walk through an economic minefield.
If this quarter has negative numbers, it’s going to be a Trump Recession pure and simple.
https://finance.yahoo.com/news/u-stocks-see-biggest-2-204900584.html