So, About Those Other Reasons
"So, markets crash over seven hundred points today after a bad inflation report, more tariff confusion, oh, and by the way, Republicans really gonna raise taxes? That coulda done it."
The overview, via
The Hill↱:
Stocks ended the week with steep losses after new federal data showed prices rising faster than expected, reigniting inflation fears on Wall Street.
The Dow Jones Industrial Average lost more than 715 points on the day, falling 1.7 percent. The Nasdaq composite lost 2.7 percent and the S&P 500 index fell 2 percent.
The stock slide began shortly after the Commerce Department released data showing an unexpectedly steep increase in consumer prices.
The personal consumption expenditures (PCE) price index rose 2.5 percent over the past year, but 2.8 percent without food and energy prices included. On a monthly basis, the PCE index advanced by 0.3 percent while core PCE increased by 0.4 percent.
"We are moving in the wrong direction and the concern is that tariffs threaten higher prices, which mean the inflation prints are going to remain hot. This will constrain the Fed's ability to deliver further interest rate cuts," James Knightley, chief international economist at AIG, said in a Friday analysis.
To the one, this is #WhatTheyVotedFor. To the other,
「¡That's not what they voted for, waaah you take that back that's not what they voted for! Just! Leave! Trump! Voters! Alone!」
Okay, okay, fine: What the hell did they think was going to happen? I mean, realistically, not some fantasy like Robert McCabe, a fired IRS employee, explained to a
local news reporter↱: "I thought that someone with his business acumen would have come in with a fine-tooth comb … instead of coming in with a wrecking ball and destroying people's lives for no reason." He also forgets that he just voted for the party that wants to destroy the IRS and weaken government to the point that it is easily murdered. For some reason, he thinks the party that believes the most dangerous words in the language are, "I'm from the government and I'm here to help", to actually wants to "help change the things that are wrong in the world, you know?"
Seriously, it's not like Republicans haven't been pretty straightforward about this stuff for a long, long time.
Take Bradley Bartell, a Wisconsin man who voted for Trump in 2024 and is now devastated because ICE has detained and may deport his Peruvian wife. He "knew they were cracking down," he says. "I guess I didn't know how it was going down."
Really, Bradley? You voted for the guy who said he was going to round up immigrants, but somehow you didn't get the memo?
Then there's David Pasquino, a vet who worked for Veterans Affairs until Trump's so-called "efficiency" cuts came around. Now he's complaining about the "chainsaw" they used instead of a "scalpel." Now, he feels "betrayed."
Did you think being a veteran would save you from the guy who refers to fallen service members as "losers" and "suckers," David?
(Lewis↱)
And, sure, it feels a little like kicking them while they're down, but what's the track record on
not kicking them? As columnist Matt K. Lewis put it, "as much as it might seem like these personal reckonings should spark some soul-searching, that’s not how the real world works". Or, as poet Shel Silverstein once inquired, "What do you do when the light turns blue with orange and lavender spots?"
Seriously, what did they think was going to happen?
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Notes:
@atrupar. "Fox Biz: 'Whew folks, this is a tough way to end the week.' *cuts to Kudlow* Kudlow: 'So, markets crash over 700 points today after a bad inflation report, more tariff confusion, oh, and by the way -- Republicans really gonna raise taxes?'" X. 28 March 2025. X.com. 28 March 2025. status/1905712615579689307
Hussein, Fatima, David Chang, and Brian Sheehan. "Hundreds of Philly IRS workers laid off on Thursday, union says". NBC 10. 23 February 2025. NBCPhiladelphia.com. 28 March 2025. https://www.nbcphiladelphia.com/new...ayoffs-firings-union-president-trump/4114738/
Lane, Sylvan. "Stocks plummet after hot inflation report". The Hill. 28 March 2025. TheHill.com. 28 March 2025. https://thehill.com/business/5219986-stocks-slide-federal-data-inflation/
Lewis, Matt K. "Trump voters are starting to get burned by DOGE's chainsaw". The Hill. 19 March 2025. TheHill.com. 28 March 2025. https://thehill.com/opinion/campaig...are-starting-to-get-burned-by-doges-chainsaw/
Silverstein, Shel. "Signals". A Light in the Attic. New York: Harper & Row, 1981.