Trump Says Markets will ‘Boom’—It’s More Like ‘Kaboom!’

Trump Hits The Golfing Greens as The Market Drains Green

This morning, I looked at stock futures and it essentially said, “No future”. President Donald Trump’s inane tariffs are causing a planetary plunge in the markets, which he justifies by claiming his scheme will eventually bring manufacturing back to the United States. The only thing Trump has manufactured so far is the threat of a Great Depression—which is a separate issue from the mental depression he has already caused democrats.

The stock market has more red than a sea of MAGA hats at a Trump campaign rally. Yet, the president brushed off the catastrophe by breezily saying, “I think it’s going very well,” adding, “The markets are going to boom, the stock is going to boom, the country is going to boom.”

It’s more like, “KABOOM”!

On Thursday, the market lost $3 trillion, and Friday looks like a regrettable rerun, but worse, with the Dow Jones free-falling more than 2100 points. Since Trump was inaugurated on January 20, Americans have experienced a $5 trillion drop in wealth.

Continued losses are mushrooming in real time, as markets crash and burn, while Nero heads to Florida, at the taxpayer’s expense, to golf at a Saudi-held event at one of his fancy resorts. The so-called populist president will be luxuriating on the greens, as Americans are draining TRILLIONS in green. (It’s worth noting that each time the president travels from Washington, D.C. to his Mar-a-Lago resort in Florida, it costs U.S. taxpayers approximately $3.4 million.)

Treasury Secretary Scott Bessent, whose net worth is reported to be between $500 million and $700 million, was as nonchalant as our golfing president about cratering global markets. On Bloomberg TV, he flippantly brushed off mammoth Nasdaq losses by quipping, “that’s a Mag 7 problem, not a MAGA problem.”

Bessent was referring to The "Magnificent Seven” technology companies: Apple, Microsoft, Amazon, Alphabet (Google), Meta (Facebook) NVIDIA Corporation and Tesla. I’m no financial expert, but if these companies are bleeding losses, it’s probably not healthy for the U.S. economy.

Of course, the out-of-touch Bessent was dead wrong about the impact the tariffs will have on Trump voters. The Yale Budget Lab estimates tariffs will cost the typical American household about $3,800 in higher prices. If these folks thought the price of eggs was too high, wait until they see the price of cars and other goods in Trump’s MAGA Market. Even Sen. Ted Cruz (R-TX) knows this won’t end well, saying, “Tariffs are a tax on consumers.”

Yet, Trump continues to downplay the unfolding nightmare as a “disturbance”. A disturbance is a Jehovah Witnesses knocking on your door while you’re eating dinner. When the economy drains trillions of dollars overnight, it’s not a disturbance, it’s a disaster. A Barron’s headline neatly sums it up: “The Stock Market Pain Is Just Getting Started. This is How You Sabotage the World’s Economic Engine.”

The lobotomized MAGA-Monkeys in Trump’s cult-like base will probably continue to defend the president’s debacle. They are incapable of critical thinking, so they are blind to the red emergency lights blinking. However, economic experts are spooked at how the markets are reacting to America’s kook.

Federal Reserve Chair Jerome H. Powell warned that Trump’s plan will very likely “include higher inflation and slower growth.” Kristalina Georgieva, the managing director of the International Money Fund, cautioned the tariffs, “clearly represent a significant risk to the global outlook at a time of sluggish growth.”

Former Italian Prime Minister and Dean of the IE School of Politics, Enrico Letta, condemned Trump’s “Liberation Day” trade tariffs as “incomprehensible” and “madness, pure madness". I would add that for those watching their retirement funds vanish, it’s pure sadness.

Friday’s stock market plunge came despite the U.S. adding 228,000 jobs last month. Eric Winograd, an economist at Alliance Bernstein, explained that today’s data is “far less significant than the full-fledged trade war the U.S. has embarked upon. The trade war impacts the forward outlook while the jobs data describes the status quo ex ante. That matters, but not as much as what comes next, and trade policy will be the primary driver of that.”

Predictably, the MAGA-monkeys will ignore reality and angrily explain that Trump is a stable genius who is playing 4-dimensional chess. They will insist the rest of us are stupid globalist liberals who hate America. They will swamp Elon Musk’s X platform, promising that Trump’s isolationism will revive rusty mills and Make America Great Again.

I wish this were true, for the good of the country, and selfishly, for the health of my personal IRA. Tragically, there is no overarching strategy, with the devastating tariffs seeming like they were calculated by a middle school flunky wearing a dunce cap.

No, what we are experiencing are impulsive brain spasms from an aging, raging lunatic with no plan, who governs by arbitrary grievance and capricious mood swings. Trump has always been clueless when it comes to economics and has repeatedly proven himself to be one of the worst businessmen in the history of business.

Between 1991 and 2009, he declared bankruptcy six times (seven if you count the moral variety). This includes at least three casinos, Trump Taj Mahal, Trump Castle Hotel and Casino, and Trump Hotels and Casino Resorts. How inept does one have to be to bankrupt a fucking casino, where the customers are literally getting drunk and shoveling money over by the wheelbarrow?

It’s probably an important time to remember that Trump the “self-made” business superhero is a fictional character. In March 2016, the Washington Post gave Trump 4 Pinocchios for lying, when he claimed he built a real estate fortune out of a “small $1 million loan from his dad.” The Post set the record straight, writing:

Trump’s claim…is simply not credible. He benefited from numerous loans and loan guarantees, as well as his father’s connections, to make the move into Manhattan. His father also set up lucrative trusts to provide steady income. While Trump asserts “it has not been easy for me,” he glosses over the fact that his father paved the way for his success — and that his father bailed him out when he got into trouble.

As Trump’s casinos ran into trouble, Trump’s father also purchased $3.5 million gaming chips, but did not use them, so the casino would have enough cash to make payments on its mortgage — a transaction which casino authorities later said was an illegal loan.

A 2018 New York Times investigation found:

After examining more than 100,000 confidential documents, the Times concluded that the “small loan" was actually $60.7 million, or $140 million in 2018 dollars, and much of it was never repaid.

Trump was highly dependent on his father’s wealth: “By age 3, he was earning $200,000 a year in today’s dollars from his father’s empire. He was a millionaire by age 8. In his 40s and 50s, he was receiving more than $5 million a year.”

Trump’s first big Manhattan real estate project, purchasing the Grand Hyatt in 1978, only occurred with significant help from his father. The Washington Post writes of the project that first made him famous:

Trump simply did not have the credit or connections to obtain such financing on his own. “It was Fred’s two-decade-old relationship with a top Equitable officer, Ben Holloway, that had helped entice them to do the project.” Donald Trump makes no mention of his father’s secret — and essential — role in his 1987 memoir, “The Art of the Deal.”

Trump’s life story is a total fraud. He’s not a successful businessman, but a nepo-baby and unserious circus barker who cons easy marks, like the “poorly educated”, whose foolish votes got us into this mess. Now, the entire world is trapped in a failing Trump casino waiting on Chapter 11.

What’s scary, is the European Union is so far holding back on doing real damage to the United States economy. They have a retaliatory tool called the anti-coercion instrument, which is referred to as an economic “bazooka.” Launching this “nuclear” option would “limit American banks’ access to the European Union’s enormous public procurement market, which would mean partly cutting off the banks from projects worth roughly 2 trillion euros ($2.2 trillion) each year.”

If Trump were on his reality television show, The Apprentice, he would have already been fired. Unfortunately, with craven Republican cowards controlling Congress, impeachment isn’t an option…yet. Maybe a Great Depression, with Trump morphing into a modern Herbert Hoover, would finally give Republicans the courage to give him the heave-ho. Albeit, it’s more likely these lemmings would allow the world economy to catch fire and burn before firing the worst president in American history.