Trump Panics on Thursday AM as He Collapses It All
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As the world stands up to Donald Trump, Donald Trump panics, causing more market uncertainty, causing the markets to continue to tank. Donald Trump took to his social media platform and threatened that if EU does not remove the tariff on whiskey, in retaliation to the United States putting a 25% steel and aluminum tariff on Europe. The U.S. is going to put a 200% tariff on all wines and champagne. Donald Trump says this is going to help all of the champagne suppliers in the United States. Donald Trump doesn't realize that you don't make champagne in the united states here's what donald trump posted the european union one of the most hostile and abusive taxing and tariffing authorities in the world which was formed for the sole purpose of taking advantage of the united states has just put a nasty 50 tariff on whiskey
If this tariff is not removed immediately, the US will shortly place a 200% tariff on all wines, champagnes, and alcoholic products coming out of France and other EU-represented countries. This will be great for the wine and champagne businesses in the U.S. It should be noted Donald Trump has a failing wine company in the United States. And then when it comes to the champagne industry, there is no champagne industry in the United States. On that news, the markets further tanked. So CNBC then interviewed Scott Besant, Donald Trump's treasury secretary, about these 200% tariffs. Here's what Besant had to say. Let's play it.
And one or two items with one trading block, I'm not sure why that's a big deal for the market.
Very reassuring. I'm being sarcastic, of course, to hear the Treasury Secretary says it's just one tariff against just a small little trading block, the EU. I mean, these people are just absolutely idiots. The Wall Street Journal just did a piece tallying some of the recent warnings about consumers not spending money anymore as America heads into a great recession and potentially even A Trump depression, Walmart, McDonald's, Costco, Delta, Target, Foot Locker, Lowe's, Kohl's, Macy's and others have been quoted as saying consumers are just not spending money anymore. Consumer angst is striking all income levels. Signs of weaknesses are now showing up in spending. on everything from basics to luxuries dollar general says our customers continue to report that their financial situation situation has worsened over the last year many of our customers report that they only have enough money for basic essentials
with some noting they've had to sacrifice even on the necessities even on the basic essentials american eagle ceo says they have the fear of the unknown not just tariffs not just inflation we see the government cutting people off they see programs being cut they don't know how that's going to affect them and when people don't know what they don't know they get very conservative. Reuters reports that the US corporate bond spreads hit its widest in about six months on recession fears. Also, one of the main things that we're seeing reach a spike on Google is Boycott USA. Boycott USA has spiked on Google in the past seven days, with four EU countries and Canada topping the search list. We know that Canada has a very strong boycott against all things American.
and against American tourism, unless Canadians absolutely have to be in the US, they're not traveling to the US and they're not buying US products. That's in addition to the retaliatory tariffs by Canada in response to the US tariffs. We're now seeing those same boycotts spread to the European Union and spread elsewhere. One of the things we also learned is that Elon Musk's hyperactive efficiency drive failed to prevent US federal spending actually rising. You got that right. Federal spending was rising last month when Elon Musk was destroying the lives of all of those government workers and shutting down those buildings. A record $603 billion last month. I wonder if All of those trips that Donald Trump was taking with Air Force One and driving around the NASCAR track and spending all that money at Mar-a-Lago. I wonder if that was adding up to this total. A record $603 billion in federal government spending last month. according to new treasury data has revealed, highlighting the Trump administration's difficulty in drastically cutting the size of government.
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