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Dow Drops 1500 Points [1]
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Date: 2025-04-03
When I checked in about 10:30 this morning, the Dow Jones Industrial Average was down about 1500 points. That is about 3.5%. The S&P had lost about 4%. If we are not yet in a recession, we are well on our way to one. The possibility of a major Depression just turned into a probability.
Now, there are two possibilities here. One, is that Trump, mostly driven by some sense of perceived injustice, was seeking revenge against every country, heck, every island, that ever did not bow down before his greatnest. This, I think, is the most likely theory.
The other is that he is at least working with folks who have enough money to profit from economic chaos. If you have cash when the economy crashes, you can use it to buy land, stock, and raw materials at depression rates. As the economy recovers, you will then have a much larger share of the new economy.
I do not think this was the actual motive. I do think that the folks Trump talks to on a regular basis, will quickly assess the situation and begin working to expand their control of...everything. Further, they likely will work to convince Trump that this crisis gives him the power to declare another national emergency, giving him and them, even more powers. I cannot imagine that either the Senate or the House Republicans will have the fortitude to overturn these actions.
This is, obviously, not good for most Americans nor the most folks around the globe. It is not good for poor or working class folks. It is not good for even modestly well-off folks who have put away enough to get by comfortably. It is good only for the super-wealthy.
Trump was correct about one thing. Yesterday was Liberation Day. Yesterday, despite Trump’s great show of power, the tide began to shift against him. Yesterday, the Senate opposed the Trump tariffs on Canada. Yesterday, Wisconsin voters shoved aside campaigns dominated by DOGE millions. Yesterday, Florida districts swung 15%-20% away from MAGA blindness. Yesterday, nations across the globe began to reassess their relationship with Trump’s America.
Today the warning sirens of economic collapse scream for all with the ability to hear them. Those who saw in Trump the personification of someone who would protect them and make them feel safe, should now feel the ground shaking beneath their feet. Today, we need to make our first strong moves.
We should feel free to take any and all appropriate actions to win over anyTrump voters and challenge any feckless elected Republican. Going forward, we need to engage with as many of our potential allies as possible and seal whatever deal is needed to engage them to protect our common interests.
Yesterday, despite the swingy election results, will be considered a major victory by Trump and his loyalists. He, likely considers it his surprise attack: one that will prove to everyone that he is the genius he has always claimed to be. His blind supporters no doubt will feel the same.
View this as similar to the elation the Japanese felt upon hearing of their great victory at Pearl Harbor. We, too, should consider it as a Pearl Harbor type of event. It must become our, “Day that will live in infamy”. Today, we gear up for the war for the American soul.
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