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Chapter 1: What is causing Donald Trump to panic this week?
Another day and Donald Trump is tanking the markets. Yes, he's starting the week again by crashing our economy once again. And here's what he's sending to his supporters to try to con them even more as most Americans realize What a con artist he is. Donald Trump sends the following message. Please answer before this poll closes tonight. Would you accept a Doge dividend check signed by Trump?
Should Trump give Doge savings back to American citizens via check? Then Donald Trump puts his top national economic advisor, Kevin Hassett, on CNBC. And here he says that the reason that we're seeing GDP contraction and likely a recession is it is Biden's fault. He says this is Biden's economy. Biden's doing everything wrong.
The Trump administration, the Trump regime is absolutely panicking today. Let me share with you this clip of Trump's national economic adviser. Play this clip.
Near term, we've got a Biden economy that, you know, still most of Biden policies are in place. If you look at the Atlanta Fed GDP now number, it's showing negative first quarter, which is kind of, if you like, a metric of the inheritance of President Biden.
A lot of that is also from a big increase in the trade deficit, which, as you know, and you've been covering, Joe, is happening in part because people are anxious about future tariffs. And so they're stockpiling. And so that's a very, very temporary phenomenon.
As our editor-in-chief, Ron Filipkowski, writes, here's the Trump recession timeline. One, this will be a golden age on day one. Prices will come down and the economy will boom. Two, these policies won't cause a recession. We know what we're doing. Three, okay, it will cause short-term pain, but it will be good in the long term. Four, this is Biden's recession. That's the pattern that we've seen.
One of the things we're seeing as well, as Luke Cower writes, last week was the first time since 1988 that U.S. stocks fell 3% while global stocks... that are not the US related stocks rose 2.5%. So the market's actually doing well outside of the US, but the US has become a toxic cesspool because the White House is a toxic cesspool. I mean, just take a look at this right here.
A whole bunch of themes are getting absolutely destroyed today, as George Perks writes. And it's not just AI adjacent stuff. Banks are down even more. Private equity is getting crushed. You name it, American companies are getting destroyed.
And that means my 401k, your 401k, our pensions, our life savings is getting destroyed like we told you it was going to because Donald Trump is an idiot and he's bankrupted every freaking thing essentially in his life. So, yes, he was going to bankrupt it again.
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Chapter 2: How is Trump's administration responding to economic downturns?
Is that about Donald Trump? Play this clip.
When you see Trump with Putin, as I have on a few occasions, he's like the 12-year-old boy that goes to high school and meets the captain of the football team. My hero. It is really creepy. It's really creepy. And that struck you at the time? Oh, absolutely. It struck everybody. It was like you could touch it. It was creepy. The creepiness was palpable.
Are you trying to say they're having a bromance?
No, I'm not saying. I'm just telling you what I saw. Regrettably, the Republican Party under Donald Trump and particularly the right wing of the Republican Party are very sympathetic to Vladimir Putin. I mean, I've been with Trump and Putin. Trump is in awe of Putin. Tyrants are often popular.
You see, the key to democracy, liberal democracy, is that it empowers the majority but it also, through the rule of law, constrains the majority. And if you get to the point where anybody who can muster a majority, and I don't think Trump can do that, by the way, but anyone who can muster a majority is given absolute power and then can do whatever they like to the minority, that's not a democracy.
That is a tyranny. That is an autocracy. Even if it's got the support of 50, 51% of the population, that is not what makes a democracy. A democracy, as we understand it, is one where the rule of law protects all citizens and the rule of law applies to all citizens, whether they're the president or the prime minister or an ordinary, you know, elector.
And you want me to show you how Turnbull was right? This was Donald Trump last night being asked if you believe Putin is disrespecting you by attacking Ukraine. Let's play it.
This person is disrespecting you by attacking Ukraine. Who? This person is disrespecting you by attacking Ukraine.
What did he do? Well, he's attacking Ukraine. Is he disrespecting me? Who are you with? Michael, we're about to watch this. You've lost a lot of credibility. Go ahead. What else?
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