Trumpenomics

[Axtremus]

Back to 50% tariffs for the EU.

https://truthsocial.com/@realDonaldTrump/114556968834547173

... Our discussions with them are going nowhere! Therefore, I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025. ...

[Horace]

I opened my trading app and saw futures were up a little. So naturally I went straight to truth social.

What I am relieved by about this one, is that the setup and rug-pull happened entirely between sessions. No chance of cronies trading inside info.

[Axtremus]

New terminology for the market: the TACO trade.

https://www.cbsnews.com/amp/news/trump-taco-trade-trump-always-chickens-out-what-it-means/

[LuFins Dad]

That’s a stupid approach to take from a markets analyst. He’s actually trying to goad Trump into not reconsidering tariffs and to pull the trigger…

[Axtremus]

Hmmmm .....

https://finance.yahoo.com/news/a-us-trade-court-just-blocked-a-wide-swath-of-trumps-tariffs-here-are-the-duties-that-may-be-impacted-014546260.html

Court of International Trade halted Trump's tariffs.

[Horace]

Presenting a unified and confident front to the rest of the world in our unilaterally declared world trade war over nothing.

[jon-nyc]

@Axtremus said in Trumpenomics:

New terminology for the market: the TACO trade.

It’s getting memed a lot now.

Maybe the real liberation was all the tacos we ate along the way.

[89th]

What's more concerning is Trump wasn't aware of the TACO acronym until a reporter had to explain it to him. I know he doesn't, but he would do very well to have some sort of brave employee telling him the reality "out there" so he's at least aware. But dare we interrupt his false reality...

[Horace]

@LuFins-Dad said in Trumpenomics:

That’s a stupid approach to take from a markets analyst. He’s actually trying to goad Trump into not reconsidering tariffs and to pull the trigger…

Plenty of people out there hoping Trump damages the economy as much as possible. I'm sure they'll take the opportunity to goad Trump into more macho tariffs.

[Axtremus]

Trump says he plans to double steel, aluminum tariffs to 50%
https://www.reuters.com/business/trump-says-he-plans-double-steel-tariffs-50-2025-05-30/

[jon-nyc]

[LuFins Dad]

And yet his popularity is still higher than at any point his first term.

[taiwan_girl]

Current popularity is 43% (by Gallop poll)

[LuFins Dad]

@taiwan_girl said in Trumpenomics:

Current popularity is 43% (by Gallop poll)

Here’s the aggregate….

[jon-nyc]

[jon-nyc]

Turning us into a Banana Republic in more ways than one.

[Axtremus]

The OECD lowers its global GDP growth projections for 2025 & 2026 due to Trump's tariffs:

https://www.oecd.org/en/publications/oecd-economic-outlook-volume-2025-issue-1_83363382-en.html

Key figures

3.1% 
  ⏷
2.9%
Revision to projected global GDP growth for 2025

3.0%
  ⏷
2.9%
Revision to projected global GDP growth for 2026

[taiwan_girl]

U.S. manufacturing activity slumped in March to the lowest level in nearly three years as new orders plunged, and analysts said activity could decline further due to tighter credit conditions.

The Institute for Supply Management (ISM) survey on Monday showed all subcomponents of its manufacturing PMI below the 50 threshold for the first time since 2009. Some economists said this suggested a recession was around the corner, while others said much would depend on the services sector, whose PMI remains consistent with a growing economy.

https://www.reuters.com/markets/us/us-manufacturing-sector-weakest-nearly-three-years-march-ism-2023-04-03/

[jon-nyc]

[Horace]

I posted an interview with that guy shortly after Liberation Day. I liked him a lot.