RW Influencers Lie Market’s Booming, Experts Predict “Economic Nuclear Winter” Who Will MAGA Believe?

We are now moving into the religious aspect of the Cult of Trump. Any religion is based on faith. Faith is defined as “belief in the reality of things unseen,” such as a faith in God. You can’t see Him, you can’t prove He’s there by empirical means, so you have to trust that He’s there, and that trust is faith.

And now MAGA influencers are asking you to have faith that they know better about what’s going on with the stock market than you (or your broker, silly man or woman) do. This is a lying contest with teeth, friends. This is some hubris right here. Take careful note. You don’t see this kind of baldfaced lying just any day.

Really, now? The hell you say. Then I guess Big Tech is in cahoots with the Deep State, not to mention the NYSE, because here’s what you see on the markets today. This is the Dow. The trading day is not over yet, and so this may not be reflective of Trump’s latest lunacy, of an additional 50% tariff on all things Chinese, which happened early afternoon on the east coast.

No $4 Trillion rally here, folks. This story was published at 10:32 a.m. PDT. So this is the very latest data that we can find.

U.S. stocks fell again in a volatile trading session Monday as the White House remained defiant even as the rollout of shockingly high tariff rates has caused a market meltdown.

In the latest development, Trump threatened even higher rates against China as the two countries traded tit-for-tat threats.

• The S&P 500 inched down 0.2%, around 19% below its closing record. At the lows of the session, the S&P 500 was in bear market territory, off 20% from the high.
• The Dow Jones Industrial average tumbled 254 points, or 0.7%, following back-to-back 1,500-point losses for the first time ever to end last week.
• The tech-heavy Nasdaq Composite added 0.4%, as megacap tech stocks such as Nvidia and Palantir popped around 3% and 4% each.

Stocks mounted a short-lived rally shortly after the open that took the Dow Jones Industrial average into positive territory. Speculation of some sort of tariff pause circulated on social media, contributing to the pop. The White House, however, told CNBC that any talk of a 90-day pause was “fake news” and major averages retreated once again. […]

• Trump said Sunday evening on the market rout: “I don’t want anything to go down, but sometimes you have to take medicine to fix something.”
• Trump then threatened China on Monday via Truth Social: “If China does not withdraw its 34% increase above their already long term trading abuses by tomorrow, April 8th, 2025, the United States will impose additional tariffs on China of 50%, effective April 9th. Additionally, all talks with China concerning their requested meetings with us will be terminated!”
• Commerce Secretary Howard Lutnick told CBS News that the tariffs would not be postponed. “The tariffs are coming… They are definitely going to stay in place for days and weeks.”

Investors were surprised first by the magnitude of certain rates applied to trading partners that appeared to be based on a formula without a valid rationale based on established economic theory. They were rattled further when China on Friday decided to retaliate with a 34% tariff on all U.S. imports, instead of negotiating first. Now an all-out trade war with China appears to be a possibility.

“The president is losing the confidence of business leaders around the globe…this is not what we voted for,” wrote Bill Ackman, billionaire head of Pershing Square, on X. “The President has an opportunity on Monday to call a time out and have the time to execute on fixing an unfair tariff system. Alternatively, we are heading for a self-induced, economic nuclear winter, and we should start hunkering down.”

“Economic nuclear winter,” huh? Gee, that’s sure different from a rally of four trillion bucks, just this morning. Or winning a game of “chicken.” Of course, you can choose to believe D.C. Draino and Benny Johnson, if you wish. Benny is quite the philosopher. He says losing money is no biggy. I wonder how much of his is in the market?

“Losing money costs you nothing.” How well I remember the crash of 2008 and listening to people cry out, “I lost PRINCIPLE this time! Not just the interest, I lost PRINCIPLE!” We were all a lot younger in 2008. The chances of us recouping our losses this time are slim.

Why is Trump doing this? Even he doesn’t know. The thing with Trump is that he dreams up a cockamamie scheme on the fly, and then after a while he believes it himself. That’s what he did with the stolen election of 2020. He saw a way to fleece his followers for money for a “legal fight” and then he proceeded to lose 60-some legal cases because no fraud was actually found. But a lot of money changed hands.

And the tariffs racket is seen that way, as well. Trump will sell exemptions to his buddies, just like a mafia shakedown. You want to be exempted, you give Lutnick or whomever an envelope with “x” amount in it.

Economic nuclear winter. That is a phrase I think that you’re going to hear a lot of. And in the rest of the hemisphere, we’re just in Spring and looking forward to Summer. But financially, it’s going to be a long, tough winter.