Catherine Rampell

I have much less sympathy because besides the fact that like they clearly got the economics wrong, I think they also made some other Faustian bargains like, oh, well, we're going to get tax cuts in there for even if he does all of the other stuff. Forget the tariffs, like forget the destructive economic stuff.

I have much less sympathy because besides the fact that like they clearly got the economics wrong, I think they also made some other Faustian bargains like, oh, well, we're going to get tax cuts in there for even if he does all of the other stuff. Forget the tariffs, like forget the destructive economic stuff.

if he acts on all of these openly stated plans to weaponize government against his enemies, to curb civil rights, et cetera, that's a trade I'm willing to make. So like on multiple levels, the support from a lot of, not everyone on Wall Street, but the support of people on Wall Street and various other executives in corporate America, I am much less sympathetic to.

if he acts on all of these openly stated plans to weaponize government against his enemies, to curb civil rights, et cetera, that's a trade I'm willing to make. So like on multiple levels, the support from a lot of, not everyone on Wall Street, but the support of people on Wall Street and various other executives in corporate America, I am much less sympathetic to.

if he acts on all of these openly stated plans to weaponize government against his enemies, to curb civil rights, et cetera, that's a trade I'm willing to make. So like on multiple levels, the support from a lot of, not everyone on Wall Street, but the support of people on Wall Street and various other executives in corporate America, I am much less sympathetic to.

The problem is they're not the only victims.

The problem is they're not the only victims.

The problem is they're not the only victims.

Even poor Elon Musk, as I've been saying, he invested $200 million into Donald Trump's campaign so that he and Trump could run government together. And it turns out, unfortunately, they suck at running government. And now he's like $130 billion poorer, right? Because Tesla stock has gone down.

Even poor Elon Musk, as I've been saying, he invested $200 million into Donald Trump's campaign so that he and Trump could run government together. And it turns out, unfortunately, they suck at running government. And now he's like $130 billion poorer, right? Because Tesla stock has gone down.

Even poor Elon Musk, as I've been saying, he invested $200 million into Donald Trump's campaign so that he and Trump could run government together. And it turns out, unfortunately, they suck at running government. And now he's like $130 billion poorer, right? Because Tesla stock has gone down.

I think he lost like a quarter of his net worth since the beginning of the year or something like that. It's much bigger than 2%, whatever it is.

I think he lost like a quarter of his net worth since the beginning of the year or something like that. It's much bigger than 2%, whatever it is.

I think he lost like a quarter of his net worth since the beginning of the year or something like that. It's much bigger than 2%, whatever it is.

Yeah. To unpack that a little bit, usually when stock markets go down, it means people are selling off their stocks, right? And then they have cash, and then they dump that cash into bonds, so like treasuries.

Yeah. To unpack that a little bit, usually when stock markets go down, it means people are selling off their stocks, right? And then they have cash, and then they dump that cash into bonds, so like treasuries.

Yeah. To unpack that a little bit, usually when stock markets go down, it means people are selling off their stocks, right? And then they have cash, and then they dump that cash into bonds, so like treasuries.

Okay? So they put the cash into bonds, right? When they buy bonds, the price of bonds goes up and their interest rate goes down. Sorry for all the technical steps, but this is just to explain that usually when equities fall, you see bond rates falling too. We are not seeing that now. Okay. And... Trump clearly expected it to happen.

Okay? So they put the cash into bonds, right? When they buy bonds, the price of bonds goes up and their interest rate goes down. Sorry for all the technical steps, but this is just to explain that usually when equities fall, you see bond rates falling too. We are not seeing that now. Okay. And... Trump clearly expected it to happen.

Okay? So they put the cash into bonds, right? When they buy bonds, the price of bonds goes up and their interest rate goes down. Sorry for all the technical steps, but this is just to explain that usually when equities fall, you see bond rates falling too. We are not seeing that now. Okay. And... Trump clearly expected it to happen.