'Compete mess': Trump slammed as Wall St. CEO says policies will 'probably' cause recession
Dimon told Fox Business' Maria Bartiromo that he is hearing "recessionary talk" with other business leaders and said that a recession is a "likely outcome" of Trump's tariffs.
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The MAGA republicans are already crafting the false narative that guess what... it's ALL Biden's fault . They'll twist themselves into complex pretzels as they craft their pretzel logic.
NYTimes: "Wall Street billionaires are not used to being on the outside looking in. But that is where they find themselves after President Trump ignored their appeals to call off his tariff plans which they fear could endanger the economy.
With the backdrop of rapidly mounting stock market losses, corporate titans have worked every angle — phone calls, social media and even a typically staid shareholder letter — to try to change Mr. Trump’s mind.
The day after the president announced his most sweeping round of tariffs last week, chief executives from major banks, including Jamie Dimon of JPMorgan Chase, had a private meeting with Commerce Secretary Howard Lutnick organized by a lobbying group in Washington. But Mr. Lutnick was not persuaded to reverse course, three people briefed on the sit-down said.
Over the weekend, megadonors to Mr. Trump’s re-election effort tried a different tack, pleading their case in calls to Susie Wiles, the White House chief of staff, and Treasury Secretary Scott Bessent, people familiar with the calls said. Those efforts also came up empty."
Cause and effect - to those of us in our 80s it is simple. Price of eggs way up/ Value of retirement 401K - nest eggs way down. A tale told by Eggs. Was that book the 'Art Of The Deal', or the 'Art Of The Steal'? Ghost written anyway, the author unable to write cursive, thinking of that as a style of speaking. Thanks to the non discerning voters.
Lutnick, who in the past was no fan of tariffs, was not persuaded because it's not his call. Or the call of anyone else in the administration. This is 100% on the shoulders of President Donald Trump, his enablers in Congress and those people who voted for Trump or the GOP in the last election.
He told people what he was going to do and now he's doing it.
If it works, Trump will go down as one of the greatest presidents the US has ever had. If it fails, the MAGA world and Trump will be totally discredited. And hopefully ride off into the sunset and let us get to the business of rebuilding a needlessly decimated America.
I guess now we wait. With fingers crossed.
Thank goodness! Trump has counseled us to "Be Cool" while all this plays out. While our retirement accounts crater, Treasury Sec Scott Bessent claims “Americans who want to retire right now, the Americans who put away for years in their savings accounts, I think they don’t look at the day-to-day fluctuations.”
Mr Trump, it's tough to stay cool as we lose money that last week we planned on using to retire this year. Mr Bessent, we do in fact check our accts daily, because we don't have multi million dollar cushions to fall back on, as you do.
The Trump Admin and their toadies are telling us to not worry about what we are seeing and experiencing in real time.
This sounds like ppl saying don't believe all the hype, the bank still has money to cover your deposits in the early 20th century.
Those who voted for Trump will NEVER admit that they were conned by America's greatest con artist. But the fact is, they were duped.
It wasn't until I read about the chief executives from major Wall Street banks bending the knee only to be rebuffed that I understood. These are the same banks that refused to lend the FOTUS any money sending him and his businesses to the Russians for funding. With them whining of course FOTUS will continue to twist the screws to punish his enemies.
Ah, the ever predictable skud, blaming everyone for an issue except those responsible. I keep thinking about their small business they talk about. How on earth did they manage to survive when they consistently exhibit their lack of reading for comprehension? I mean John Q Public doesn't tolerate orders fulfilled based on what the business person thought you said instead of what you actually requested. Must have been a lot of returns, hence my pondering of how they survived.
As for here/now, I remain comforted by the axioms everything Trump touches dies and evil never serves it's own purpose.
Here's how I know - had the FOTUS admin been patient and run their plans of deporting immigrants without due process through Congress they might have received the permissions to do the dirty deeds. Might have taken a while though, what with the Democratic party doing all they could to delay, but with the majorities MAGA enjoyed the legislation could have been passed. That would be worse, much worse. Everything the GOP has done thus far has been unconstitutional. How do I know? Over 170 lawsuits filed against the US Government since February 2025. Also if you read the SCOTUS opinion as it pertains to those deported, SCOTUS dismissed the case because it was filed in DC and not TX where the deportations took place. Yes, they said the President has the right to deport provided due process is followed, especially using the Acts the FOTUS invoked.
This is next level legal fencing - I'm glad our side has wise folks because all that is left at the DOJ are loyalists who weren't the brightest bulbs of their graduating class. May the odds ever be in the favor of those promoting For the Good of All and May it Harm None.
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