For a long time now, Trump has used the stock market as the ultimate measure of success of the economy under his presidential tenure. He even took credit for the stock market bounce that came shortly after his election win back in November. Back then, as you may recall, Joe Biden was still in the Oval Office.
Right now, however, it has been a very different story. The stock market has been crashing, and the numbers plummeted to their lowest since way back in September, well before Trump won the election and eventually assumed power again.
Earlier today, the Trump administration issued temporary tariff exemptions for many goods coming into the U.S. from Canada and Mexico. It was quite similar to what the Trump White House did last month, backing off from tariffs back then, as well.
Since he is always so quick to take credit for anything and everything good, Trump should also absolutely accept the blame when things go badly. Especially when it sure seems like the stock market is reacting specifically to his on again/off again tariffs, particularly with Canada and Mexico.
But this is the manchild known as Trump we are talking about. Before he ever reached the White House, Trump was quick to suggest his assertion back during the Obama presidency that a president has total authority, and thus needs to accept blame when he is in power. He was talking about Obama, of course.
As president, however, Trump has altered this opinion as necessary. He doubled down on that back in April of 2020, saying this:
"When somebody is the president of the United States, the authority is total. And that's the way it's got to be. It's total." — April 13
Strangely enough, however, Trump backed away from any kind of blame when the failed response by his own White House regarding the coronavirus pandemic was making international headlines. At that point, Trump somehow felt that he should not receive any kind of criticism, despite his previous assertions that a president (and he was then the sitting president) has "total authority":
"No, I don't take responsibility at all." — March 13
Funny how that works, wouldn't you say?
So far in this second Trump presidency, things have been going very wrong. The country feels like it has run off the tracks. The economy sure appears to be tanking. The price of gas and groceries, which Trump had promised as a candidate he would quickly remedy and bring down, have instead risen even higher. Inflation has risen. The stock market keeps crashing, having what cannot be described as anything other than a terrible stretch. Hundreds of thousands have joined the ranks of the unemployed. Tens of millions of Americans are seeing their health insurance at risks. Social Security benefits are under attack and appear to possibly be on the chopping block. Airline safety appears to have been seriously compromised by DOGE cuts, and let's also remember how they laid off the jobs of federal employees responsible for nuclear safety, only to have to scramble to hire them back. That's the so-called "Department of Government Efficiency" that we are talking about. Some show of efficiency, eh? Plus, it seems that once again, diseases which previously were under control are now spreading across the country.
This is our new national "golden age?" This is what the president who claims "total authority" until he actually gets blamed for something feels is the key to "Make America Great Again?"
Once again as an American, I have mixed feelings, but only negative ones. It is a mixture of embarrassment from this administrations too quick shows of bluster. But it is also anger at their arrogance, frustration at the continued loyal support by the MAGA cult, which has clearly drank the Kool-Aid and never can bring itself to admit that they might have been even a little wrong about their demagogue, and sadness at the state of affairs, and what now clearly appears to be the first obvious steps of a real decline.
Of course, Trump's political rises have always consistently ushered in a new wave of anger and hate. There certainly is no shortage of either in this country right now.
That said, it sure seems like there is an obvious lack of common sense and accountability from our highest elected officials.
What seems clear is that this administration clearly is not delivering on their promises. It's almost as if they lied to us simply to get into power and then pursue very different things than what they had promised. Almost as if they maybe conned people into believing their lies, and are not pursuing other things, like a military takeover of Greenland or on again/off again tariffs with Canada and Mexico which keep destabilizing the stock market which they express such love for. You might almost think that they were scam artists, or something.
If only the people who voted for him had been given some kind of a warning about all of this, eh?
Below is a picture from a recent Facebook post by Robert Reich, who is someone I have been following and listening to more and more since the political rise of Trump. Also, there are links to three articles from which I obtained both some of the facts and all of the quotes used in the above blog entry:
Robert Reich's Facebook post from yesterday, to which he added these comments: A "new Golden Age in America" for whom exactly? Indivisible Guide
https://www.facebook.com/photo/?fbid=1178169353676510&set=a.397968961696557
Trump blames ‘globalists’ for stock market sell-off Published Thu, Mar 6 20256:07 PM ESTUpdated Fri, Mar 7 202510:06 AM EST thumbnail Kevin Breuninger
https://www.cnbc.com/2025/03/06/trump-blames-globalists-for-stock-market-sell-off.html
Trump's 'total authority' boast should've enraged Republicans. Instead they shrugged. by Charlie Sykes, April 16, 2020:
For decades, conservatives have pointed to the 10th Amendment as the very essence of decentralized government. Now, it's not clear what Trump's GOP supporters believe.
https://www.nbcnews.com/think/opinion/trump-s-total-authority-boast-should-ve-enraged-republicans-instead-ncna1184806
Stock market today: S&P 500 posts worst week since September as Trump tariffs rattle markets published in Yahoo Finance by Amalya Dubrovsky, Karen Friar and Ines Ferré Updated Fri, March 7, 2025:
https://finance.yahoo.com/news/live/stock-market-today-sp-500-posts-worst-week-since-september-as-trump-tariffs-rattle-markets-143040515.html
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