HOT TOPICS | Stock Market DISASTER! - April 3rd, 2025
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Why did the stock market plunge after yesterday’s Rose Garden tariff announcement?
OK, good morning, everybody. A little bit after 10. Welcome to Hot Topics. Wait till you hear about my journey. But first, there's more important things to talk about, like the stock market. Look at this. I don't know if I've ever seen the stock market down 1500 points, at least not recently. So so much for make America rich again. This is a Trumpster fire. And they're doing everything, spinning everything to try to make you believe that what you're seeing with your own eyes and hearing with your own ears, that it's not right, that your investments aren't down, that your 401k is not down, that your retirement is not in the shitter. I hate to be the bearer of bad news. But it is. This is a reality of right now.
Someone who's supposed to be a great businessman. So much for the great businessman that we are now all fucked. Pardon my French this early in the morning, but it is true. So good morning to all of you, if it is a good morning. Let me know where you're streaming from. And I'm so glad that you can join us this morning. Trump has sent his acolytes and his little minions out this morning to try to make things better again. What would you call that? MTBA? MTBA? Make America better again. But I don't know if there's any making better right now. Look at that. 1,500 points. The Dow is down. Big red. You saw the Dow futures last night as we streamed to you what happened. Or just the market futures last night. And it's holding true to what was predicted.
Now, the reason that I'm a few minutes late is because I'm with Reverend Al Sharpton this morning and doing something for his National Action Network panel on the media. And so me trying to be smart, I didn't jump in a car or a taxi. I jumped into the subway because I said the subway is much faster. The event is in Manhattan. Don Lemon ended up in Queens. So, so much for me taking the subway. Maybe I don't need to take the subway anymore. So this is, as I said, the president sent his minions out this morning. We're gonna start with his main minion, his mouthpiece, who is Caroline Leavitt on the CNN this morning with the Kate Baldwin. Let's play it.
This is the White House reaction to, as we just had those numbers up, global markets tumbling this morning and futures down sharply.
To anyone on Wall Street this morning, I would say trust in President Trump. This is a president who is doubling down on his proven economic formula from his first term. We saw wages increase. We saw inflation come down. We had a Trump energy boom. We had the largest tax cuts in history.
Please pause. Now, you notice she didn't say his second term. She's going back in time. She's taking us back to the oldies. His first term. We're not in the first term anymore. The economy is not the same. Remember, in his first term, he inherited months, many, many months of growth from President Barack Obama. It should have been great when he started. But then remember that right after he started manufacturing jobs, we lost manufacturing jobs. And then the pandemic hit and he said, oh, it's not real. It's just the flu. It's going to go away. We don't have to worry about it. And then our economy went into the shitter on the edge. It was a recession. And then Joe Biden came in and pulled us out. And when Joe Biden left office, all economic indicators firing on firing full cylinders.
And then Donald Trump comes in and he does his Trumponomics. And here we are in the basement again. And now she is out here saying his first term, just just trust him. He's not an economist. Remember, anyone who bankrupts casinos should not be trusted with money because the House always wins. But apparently not if you're Donald Trump and you're a great businessman. If you bankrupt the casino, then you really don't know what the hell you're doing. Keep playing.
And that's exactly what the president intends to do following his historic announcement yesterday for reciprocal tariffs. It's the golden age rule for the golden age of America. And the United States of America is no longer going to be cheated by foreign nations around the world.
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Chapters
3 chapters
1
Why did the stock market plunge after yesterday’s Rose Garden tariff announcement?
0:15–8:22
2
How is the White House defending the new reciprocal tariffs and ‘Liberation Day’ messaging?
8:22–30:23
3
What counterarguments are leading Democrats giving about a trade war and consumer impact?
30:23–40:10