exchemist
Valued Senior Member
On your budget point, he has ensured there will now be a persistent “moron premium” on US Treasury bonds, which will increase the cost of servicing the debt, thereby cratering the budget even more. A lot of market commentators have said the economic competence of this bunch is in considerable doubt. That doubt won’t go away even if they wind in the whole tariff strategy. A straight replay of the Trussterfuck.It quickly went from $2tn to $1tn, and then recently to $150bn, of which only $60bn or so has receipts, and which is itself still full of mistakes, and counting of things actually done by Biden.
Market manipulation, plain and simple. He has a private meeting with major market investors, behind closed doors, no public presence, no media, after which the market rallies significantly. Those who weren't the insiders wondered what was going on, and then Trump announces, later in the day, that he thinks the tariffs on China (that he implemented) are too high and will end up lower etc.
So anyone not part of his group of insiders had to wait for the official announcement, by which time the insiders had already benefitted.
Market manipulation. Trump rocking the market up and down for his already-rich chums to benefit.
As said previously, he's dug a huge hole for himself. The only question is whether any Republicans will assist the Dems in burying him in it.
By reducing tariffs he is scuppering his own budget, and risking the ballooning of the anticipated increase in national debt of c.$4-5tn by that shortfall in tariff receipts. Not to mention the lack of cuts in spending thus far, although I note that while the House bill mentioned $1.5tn in cuts to spending, the budget passed by the Senate only stipulated $4bn as a minimum. The "reconciliation" that Trump eventually signs will, I'm sure, need to be closer to the $1.5tn... which so far DOGE have laughingly been inept at finding, despite all their bluster at the start.