By now of course you know all about the brutal week Wall Street — and many sectors of the U.S. economy — has already had, with a 900-point drop on Monday and a further 400-point drop on Tuesday.
These drops are of course in direct response to Donald Trump’s chaotic policies, particularly the tarriffs he keeps imposing on our closest trading partners, then rescinding, then re-imposing. Experts now say we’re at an increased risk of recession thanks to his actions, though Trump, his underlings and his allies in the media all insist bad economic news is somehow Joe Biden’s fault, while also insisting whatever it is Trump is doing is working as intended.
A particularly funny — and bleak — snapshot of this dynamic came Tuesday morning on Fox News, when Maria Bartiromo rambled at length for several minutes in defense of Trump’s tarriffs.
Now, at the bottom of the screen was a chyron that blatantly misrepresented the facts about the economy, which was in fact doing very well under Joe Biden and is doing much worse now. But Bartiromo shared the screen with a stock ticker, and as she rambled on praising Trump and defending his actions, viewers could see the stock market average drop more than 100 points in just 2 minutes.
Watch the clip below:
And for the curious, here’s what she said, verbatim, during that 100-point drop:
“President Trump is looking from 30,000 feet above. He expects a disruption. He said that the other day, sure we’ll have a disruption, but we’re okay with that. And I asked him that in the interview as well. What other disruptions might he expect? I think it’s largely companies and investors getting used to a new day, a new sheriff in town, and that includes ensuring that America comes first. So yes, we are talking about tariffs, and if you listen to the people who are against tariffs, including the Wall Street Journal editorial board, they’ll say, Well, ultimately, that cost is passed on to the consumer. But President Trump’s pushback on that is just what you heard, that he is luring huge investments into America, and the rest of his agenda is deflationary. Remember, you can’t just look at tariffs in a vacuum. He’s also hoping to extend the tax cut. So cutting taxes, he’s also tapping into the energy capacity in America that he is expecting to produce growth, and he’s also getting wealth back to America, meaning he’s already had commitments of $2 trillion from large, deep pocketed investors to corporations to invest in America. President Trump’s message was very clear to me when I sat down with him last week, and that is, build it here. And the point that I made on Laura last night, that you referenced bill, is the fact that things have changed quite a bit in the world. It is a dangerous world out there, and President Trump’s main priority is to protect America. And what I mean by that is there are things that Americans rely on, that are made in the supply chain in adversaries countries. So when you look at, for example, semiconductor chips, advanced semiconductor trip chips, which are very much needed for our military, for drones and advanced technology, those chips are made in Taiwan. Now, if we’re all talking about China and Taiwan, and should China go into Taiwan and take over. I mean, they’ll be able.”
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