Trump humiliates himself after getting economic news he's feared most - Brian Tyler Cohen

[TexasTowelie]

Transcript:

in an absolutely devastating blow for
the united states caused by donald trump
the us economy has contracted meaning
shrunk 0.3% in the first quarter a
remarkable feat considering trump took
the strongest economy in the
industrialized world a record- high
stock market and consistent growth and
just made it all go away but trump
decided that as president the buck in
fact does not stop with him it stops
with ready for this joe biden this is
biden's stock market not trump's i
didn't take over until january 20th
tariffs will soon start kicking in and
companies are starting to move into the
usa in record numbers our country will
boom but we have to get rid of the biden
overhang this will take a while and has
nothing to do with tariffs only that he
left us with bad numbers but when the
boom begins it will be like no other be
patient because after all why wouldn't
the fault still lie with the last guy
who hasn't been in office for over a
hundred days but you know what's
especially interesting about the fact
that this is all now somehow biden's
fault it's that this is what trump wrote
back in january of 2024 more than a year
ago this is the trump stock market
because my polls against biden are so
good that investors are projecting that
i will win and that will drive the
markets up everything else is terrible
watch the middle east and record setting
inflation has already taken its toll
make america great again so for those
watching at home the stock market was
already trump's a year before he took
office but over 100 days into trump's
actual term it suddenly belongs to biden
again got it today's economic news puts
us behind the rest of the industrialized
world in terms of the economic growth in
the first quarter there was 0.4% in the
euro zone 3% in italy 2% in germany
austria mexico all of these countries
enjoyed positive growth except the
united states of america and by the way
you can see here that the us had been
enjoying not just positive growth but
strong positive growth with most of our
previous quarters topping even 3% under
joe biden it took just one quarter under
donald trump to eliminate that advantage
entirely and the interesting part is
that even fox news covered the update
meaning that hermetically sealed bubble
might have just a little bit of insight
into what trump and republicans are
doing to our economy all right so
obviously this is just moments after we
learned that this gdp number came out it
did show a drop uh in growth a
contraction in the economy first that we
have seen in years in fact and it's a
sharp reversal from the 2.4% growth we
saw in the fourth quarter so obviously
this is a white house that is stepping
out to you know defend its policies on
the economy in a moment where we're
waiting to see if the first deal comes
through on tariffs yeah we were looking
at this quarter 4 was 2.4% growth uh
quarter 3 was 3.1 quarter 2 was 3.0 and
now we're at negative.3%
we're getting the gdp in for the first
quarter and it is a contraction negative
3/10en of a percent this is the first
contraction since the first quarter of
2022 markets this morning have reversed
the dow industrials right now down 115
points on this contraction of the gdp
first quarter gdp first read we've got
more coming up in terms of uh advances
but the first read on the first quarter
gdp is in fact a contraction down 3/10en
of a percent versus an estimate of up
3/10en of a percent first contraction
since first quarter 2022 markets
reversing down at the lows of the day
down 12 139 right now on the dow
industrials but with that bad news of
course comes the cavalry trying to spin
into gold here's peter navaro
trying to explain how actually a
shrinking economy is a good thing i got
to say just one thing about today's news
that's the best negative print i have
ever seen in my life um and and and the
markets need to like look beneath the
surface of that we had a
22% increase in domestic investment that
is off the charts when you strip out
inventories and the negative effects of
the surge in imports because of the
tariffs uh you had 3% growth so we
really like uh where we're at now we
really like where we're at now look it
would be one thing for this
administration to at least admit that an
economic contraction is a bad thing but
the fact that they think this is
actually good should really give
everyone pause if your standards are so
backwards so incomprehensible that you
think a shrinking economy is a positive
economic development then that doesn't
exactly bode well for the future of this
country here's another trump mouthpiece
taking another attack this time echoing
dear leaders talking points and blaming
it on who else but joe biden some
matters of the economy it was reported
this morning there was a slight
shrinking in the gdp what's the response
of the white house to that well look if
you break it down there is an outsized
influence of january in that report
remember this president wasn't elected
until january 20th the gdp is a
backward-looking indicator but all the
other indicators that we do have from
that report and others show that there
is a really positive trend for this
president's new golden age that he is
unleashing investment is up 22% uh that
is a testament to all these
conversations he's having with 130
countries all around the world trying to
make better trade deals with this
president because companies know the way
that you'll face no tariffs 100% is by
manufacturing here in america so we are
seeing those investments roll in we are
seeing private sector job growth
increase we are seeing retail shopping
increase all of the signs trend that the
new golden age is underway to thanks to
this president's economic leadership
well after all trump only took office on
january 20th and frankly if the economy
continues to plunge this year remember
biden was the president at the beginning
of this year so how could it really be
trump's fault in fact the next few years
are so heavily influenced by joe biden's
reign of terror that there's no telling
if it will ever be donald trump's
economy unless of course it does well in
which case it'll be trump's economy
immediately heads i win tails you lose
but despite the desperate flailings of
this administration the damage to our
economy is already abundantly clear
elizabeth warren put it perfectly in
today's statement 100 days into his
presidency donald trump's red light
green light tariffs are shrinking our
economy with businesses stockpiling
imports in anticipation of tariff
doomsday consumer confidence has
consistently plummeted through trump's
first 100 days and dropped to its lowest
point since may 2020 as americans are
deeply pessimistic about surviving a
cratering economy deliberately damaged
by the president today senators ron
widen ran paul and i will force a vote
to turn off trump's tariffs emergency
republicans in congress will have to
answer whether they stand up for their
constituents or clear the way for
trump's tariff chaos to potentially push
us into a recession that will shrink the
economy and bring widespread job losses
while pushing prices for essential goods
even higher the reality is that while
trump frames himself as some master
steward of the economy he is the first
president in american history to
voluntarily usher in a recession he's
gutted a record high stock market
sending us into a correction territory
he's cratered 401ks and retirement
accounts that seniors need to draw from
right now he's dried up trade by
launching a trade war that he won't win
he's made everything more expensive
despite promising to lower costs on day
one i would ask you if you were better
off than you were this time last year
but we all know the answer to that
question donald trump is right now
killing small businesses big businesses
and individual americans and the rest of
his party of spineless sychophants is
sitting idly by while he does it this
entire party is full of economically
illiterate morons and abject cowards who
would rather put their own reelection
prospects above the livelihoods of their
own constituents remember who's at fault
here remember what these people are
subjecting you to right now and do not
let them regain the levers of power
again

[rickyhall]

1. W blew 250 billion dollar surplus. Repugs great with recessions, not economies.