After President Trump’s tariff “Liberation Day,” markets drop; we try to steelman the case for what President Trump is doing; and the Trump administration tries to explain its strategy. Click here to join the member-exclusive portion of my show: https://bit.ly/3WDjgHE Ep.2173 - - - Facts Don’t Care About Your Feelings - - - DailyWire+: We’re leading the charge again and launching a full-scale push for justice. Go to https://PardonDerek.com right now and sign the petition. Now is the time to join the fight. Watch the hit movies, documentaries, and series reshaping our culture. Go to https://dailywire.com/subscribe today. Get your Ben Shapiro merch here: https://bit.ly/3TAu2cw - - - Today's Sponsors: Perplexity is an AI-powered answer engine that searches the internet to deliver fast, unbiased, high-quality answers, with sources and in-line citations. Ask Perplexity anything here: https://pplx.ai/benshapiro Birch Gold - Text BEN to 989898 for your free information kit. Kars4Kids - Call now: 1-877-Kars4Kids or donate your car online at https://Kars4Kids.org/ben Boll And Branch - Get 20% off at https://BollAndBranch.com/ben Bambee - Right now, get one month of Bambee for just ONE DOLLAR! Go to https://Bambee.com and type in 'Ben Shapiro' under Podcast to schedule your first call with an HR Manager RIGHT NOW! - - - Socials: Follow on Twitter: https://bit.ly/3cXUn53 Follow on Instagram: https://bit.ly/3QtuibJ Follow on Facebook: https://bit.ly/3TTirqd Subscribe on YouTube: https://bit.ly/3RPyBiB Learn more about your ad choices. Visit megaphone.fm/adchoices
Full Episode
Well, folks, it's drinking from a fire hose. Tons of news on the economy. We'll get to all of it momentarily. Remember, Daily Wire Plus is the place you are going to get people telling you the unvarnished truth. Here, we are a facts-based company. We try to do things that are facts-based. If you are facts-based, if you just want. the unvarnished truth, then join us here at Daily Wire Plus.
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The fight for the country is happening right now. Be a part of it at dailywireplus.com slash subscribe. As I suggest, tons of economics news breaking. Yesterday, of course, was a horrifying day in the stock market. And people who are attempting to play this game where they say, well, you know, the stock market taking a massive dump. That's okay.
I mean, that doesn't affect... 50% of Americans have stocks. Maybe because they have 401ks. This notion that Main Street is totally disconnected from Wall Street, that it's just a few people at the top of the food chain who are playing with the money, that is not actually true in any way, shape, or form. And, obviously, the stock market...
as a sort of gauge of investor confidence, makes a large-scale difference in availability of liquidity for startups and being able to raise money to, for example, hire new people. If the stock market tanks by half, that's a pretty good indicator, for example, that bad things are happening.
And if the stock market continues to gain steadily, that's an indicator that maybe some good things are happening. And this isn't too tough. It's not too sophisticated. It doesn't mean that every time there's a little bit of a sell-off, it's the end of the world. And it doesn't mean that every time there's a run-up, that means that amazing things are in the brewing.
What it does mean is that ignoring data is not, in fact, a good form of analysis. The stock market does provide data. And in fact, we have lots of it. investors have been shaken by President Trump's tariff regime. They're not sure what to expect. They're not sure what comes next. There are a lot of conflicting messages coming out of the White House. So yesterday, the U.S.
market suffered its steepest decline since 2020 on fears that President Trump's new tariff plans would trigger a global trade war and drag the United States economy into a recession, according to the Wall Street Journal. Major stock indices dropped as much as 6% on Thursday. Stocks lost roughly $3.1 trillion in market value. That is their largest one-day decline since March 2020.
And of course, March 2020, was COVID. And this is not being inflicted by an external shock, like, for example, COVID. This is being inflicted by a deliberate choice by the Trump administration. In a little while, I'm going to try and steel man the Trump administration's position. What's sort of the best case scenario for the thing that they are shooting for with these tariffs?
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