EconomicElites

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"Crippling tax enforcement is a stealth giveaway to the 1 percent."

~ Paul Krugman

#Musk #DOGE #Trump #IRS #taxes #IRS #billionaires #oligarchy #EconomicElites #TaxDay
/2

https://paulkrugman.substack.com/p/happy-tax-evasion-day

"This is a moment of testing for @realDonaldTrump's advisors. The intellectually honest ones know that this reflects the President’s 40-year fixation, not any kind of a proven economic theory. This is the economic equivalent of what creationism is to biology…."

~ Lawrence Summers quoted by Greg Dworkin

#Trump #tariffs #economy #StockMarkets #crash #EconomicElites #billionaires #golf #recession
/24

https://www.dailykos.com/stories/2025/4/7/2314998/-Abbreviated-Pundit-Roundup-An-economic-catastrophe-orchestrated-by-Republicans

"We now see a 40%-50% chance of a recession over the next year.

If they’re maintained, the tariff hikes announced April 2 represent a self-inflicted economic catastrophe for the United States."

~ Preston Caldwell

#Trump #tariffs #economy #StockMarkets #crash #EconomicElites #billionaires #golf #recession
/22

https://www.morningstar.com/economy/tariffs-are-self-inflicted-economic-catastrophe

"The larger issue than declining the equity values themselves is that the market is starting to price in the growing risk of a Trump-tariff-driven recession – a truly unprecedented self-inflicted economic catastrophe."

~ David Kurtz

#Trump #tariffs #economy #StockMarkets #crash #EconomicElites #billionaires #golf
/21

https://morningmemo.talkingpointsmemo.com/p/trump-admin-faces-deadline-to-return

"On Monday morning, Donald Trump seemed to be celebrating even as the global stock market continued to plunge.

The president boasted on his Truth Social page of low oil prices, lower food prices, and of 'Billions of Dollars a week from the abusing countries on Tariffs,' despite the tide of bad news from Dow futures, the S&P 500…."

~ Hafiz Rashid

#Trump #tariffs #economy #StockMarkets #crash #EconomicElites #billionaires #golf
/20

https://newrepublic.com/post/193663/trump-celebrates-tariffs-global-markets-collapse

"He also hosted another $1 million-a-head dinner at his private club in Palm Beach. Sponsors for his tournament this weekend included Saudi oil company Aramco, Saudi Riyadh Air, and TikTok."

#Trump #tariffs #economy #StockMarkets #crash #EconomicElites #billionaires #golf
/19

"While the stock market crashes, the NYT reported that Trump has been busy enriching himself this weekend in Miami. He hosted Yasir Al-Rumayyan, the head of Saudi Arabia’s sovereign wealth fund and their LIV golf league. Every room at the 643-room Trump Doral was sold out through the weekend."

~ Ron Filipkowski

#Trump #tariffs #economy #StockMarkets #crash #EconomicElites #billionaires #golf
/18

https://www.meidasplus.com/p/this-weekend-in-politics-bulletin-7d0

Dave Troy and Noah Berlatsky note today that we're seeing "exploitable fault lines" (Troy) and "fractures" (Berlatsky) grow in the GOP coalition due to Trump's tariff insanity and crashing of the global economy.

#Trump #tariffs #economy #StockMarkets #crash #EconomicElites #billionaires #golf
/17

Troy: https://america2.news/tariffs-expose-rifts-in-fragile-maga-coalition/

Berlatsky: https://www.publicnotice.co/p/trump-tariffs-republican-resistance

"How, exactly, do you adjust prices based on predictions about the future actions of a madman? You can’t. The market is thus 'pricing in' Trump's unpredictability and ignorance of basic economic concepts."

~ Robert B. Hubbell

#Trump #tariffs #economy #StockMarkets #crash #EconomicElites #billionaires #golf
/16

https://roberthubbell.substack.com/p/this-is-what-democracy-looks-like

"As we wait to see what fresh hell awaits us this week, one obvious question is, who put these malevolent clowns in power?

The short answer is ignorant people. But political ignorance takes two different forms."

~ Paul Krugman

Two forms: less-engaged voters and ultra-wealthy backers.

#Trump #tariffs #economy #StockMarkets #crash #EconomicElites #billionaires #golf
/14

https://paulkrugman.substack.com/p/political-styles-of-the-rich-and

They asked these corporations,

"Do you support or oppose the tariffs Trump announced on Wednesday?"

And you'll be shocked to hear that NOT ONE corporation responded to that simple question.

Why?: "The silence of corporations in response to Trump's ruinous tariffs is evidence that the country is sliding toward autocracy."

#Trump #tariffs #economy #StockMarkets #crash #EconomicElites #billionaires #golf
/13

As Judd Legum, Rebecca Crosby, and Noel Sims point out,

"During the Biden administration, corporate executives regularly expressed their displeasure with policies they opposed."

Now as Trump crashes the economy and CEOs watch trillions drain from their gains, Popular Information contacted the 100 largest US corporations (by market capitalzation).

#Trump #tariffs #economy #StockMarkets #crash #EconomicElites #billionaires #golf
/12

https://popular.info/p/trump-tariffs-corporations-cower

"What stands out most about this moment is how truly unbothered Trump appears. It’s not just confidence that his hairbrained plan will work out eventually; it’s indifference to all the suffering he is causing. It’s easy to insist that a little pain will be good for us when one doesn’t have to experience it for themselves."

~ Andrew Egger

#Trump #tariffs #economy #StockMarkets #crash #EconomicElites #billionaires #golf
/11

https://www.thebulwark.com/p/hubris-is-off-the-charts-trump-marktes-crash-economy-recession-golf-florida

"Now, though, Trump has done precisely the thing he said he would do, and it is having precisely the effect everyone said it would have, and the men who fancy themselves among the smartest in the world are stunned.

Can we just say it? These people are very, very, very stupid."

#Trump #tariffs #economy #StockMarkets #crash #EconomicElites #billionaires #golf
/11

"Donald Trump’s tariffs are an enormous, unmitigated disaster, and the only thing more infuriating than watching the global economy collapse is watching the very smart very rational mostly-men of finance react with frustration and confusion. How, ask the fleece-vested men of Wall Street, could this have happened?"

#Trump #tariffs #economy #StockMarkets #crash #EconomicElites #billionaires #golf
/10

~ Jill Filipovic

https://jill.substack.com/p/we-are-being-liberated-from-our-money

"What’s happening now, like past financial collapses, was not only entirely predictable—but was caused by reckless behavior by some of the wealthiest Americans."

#Trump #tariffs #economy #StockMarkets #crash #EconomicElites #billionaires #golf
/9

"And yet Trump is doubling down on tariffs, posting that they are 'a beautiful thing to behold…. Some day people will realize that Tariffs, for the United States of America, are a very beautiful thing!'”

As Richardson says, after crashing the economy and stating publicly he intended that, Trump participated in a golf match-up in Florida and the White House featured a photo of him teeing a golf ball.

#Trump #tariffs #economy #StockMarkets #crash #EconomicElites #billionaires #golf
/7

"After President Donald Trump’s tariff announcements on April 2 wiped $5 trillion dollars from the stock market, the Republican Party is scrambling. ...

U.S. stock futures plunged again tonight, with Dow Jones Industrial Average futures down 1,250 points, or 3.3%, S&P 500 futures down 3.7%, and Nasdaq futures down 4.6%."

~ Heather Cox Richardson

#Trump #tariffs #economy #StockMarkets #crash #EconomicElites #billionaires #golf
/6

https://heathercoxrichardson.substack.com/p/april-6-2025-sunday

"Goldman has lowered its 2025 growth forecast from 1.0% to 0.5%, due to fears that Donald Trump will raise tariffs by much more than it had expected.

In a note titled 'US Daily: Countdown to Recession', Goldman also lifted its 12-month recession probability from 35% to 45%….'"

~ Graeme Wearden

#Trump #tariffs #economy #StockMarkets #crash #EconomicElites #billionaires #golf
/5

https://www.theguardian.com/business/blog/live/2025/apr/07/global-stock-markets-brace-donald-trump-us-tariffs-business-live-updates-news