Member-only story
Cult of Fools Weekly (Apr 6, 2025) — “Tariff Stupidity on Steroids”
The degree of economic illiteracy on display last Wednesday in the Rose Garden is on par with watching NASA being taken over and run by fanatical flat-earth astrologers. It was not just his usual BS, but BS on Steroids …
- Trump: “We are going to be so wealthy“
- Stock Market: “Nah“, and renders judgement by proceeding to crash.
For the record, here are the very worst two-day stock market crashes in the U.S. by percentage loss: 1. 1929 (the Great Depression); 2. 1987 (Black Monday); 3. 2008 (the Great Recession); 4. Trump special, Thur+Fri this past week.
It is also not over, via the Financial Times …
— Hedge funds hit with steepest margin calls since 2020 Covid crisis
What happened last week forces hedge funds to sell off assets, with major Wall Street banks demanding collateral after the value of holdings sharply declined. A lot of people are now getting very nervous about a steep sell-off on Monday. Gold has also fallen because it is being sold to cover losses.
In other words he is now doing to the economy what he did to Stormy Daniels, or to put that another way, the new insight into it all is that the term “America First” was clearly part of a hit list.
