General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsCan someone translate this for me?
This morning on Meet the Press:
Welker: The markets lost more than $6 trillion in value. Was this disruption always part of the plan?
Bessent: We had record volume on Friday and everything is working very smoothly. So the American people can take great comfort in that.
As trump spends days golfing with the Saudis and ignoring this crisis, this is the message the WH IS willing to send to the American people.
Seriously, what does it mean?
OLDMDDEM
(3,306 posts)senseandsensibility
(25,797 posts)that this guy is an actual economist of some kind But I think you're right. Sometimes the simplest answer is the correct one.
OLDMDDEM
(3,306 posts)spanone
(142,127 posts)Walleye
(45,677 posts)Everything he said was total gibberish. He wouldnt answer the question if they asked him what his name was, I swear.
senseandsensibility
(25,797 posts)that was unnerving as well. Brainless happy talk for the masses, I guess.
LudwigPastorius
(15,144 posts)louis-t
(24,675 posts)There it is.
central scrutinizer
(12,655 posts)MAGAt: thank you sir, may I have another?
senseandsensibility
(25,797 posts)Remember that was her actual question. And he answered it. But the "volume" thing is bizarre.
Scrivener7
(60,215 posts)They know their audience. They know how to use their audience's stunning idiocy to their benefit.
chowder66
(12,588 posts)Treasury Secretary Scott Bessent may be planning to cut and run after Donald Trumps disastrous reciprocal tariff announcement earlier this week.
During an appearance on MSNBCs Morning Joe Friday, contributor Stephanie Ruhle reported that the key Cabinet member is already looking for an escape hatch.
My sources say that Scott Bessent is kind of the odd man out here and, in the inner circle that Trump has, hes not even close to Scott Bessent or listening to him, Ruhle said. Some have said to me, hes looking for an exit door to try to get himself to the Fed, because in the last few days hes really hurting his own credibility and history in the markets.
To be sure, Trumps tariff policy represents a sort of defeat for Bessent, a former hedge fund manager who entered office under the delusion that he might actually succeed in stopping Trump from wrecking the economy. Should he flee the administration now, he would likely forfeit what little credibility remains.
more....
https://newrepublic.com/post/193634/donald-trump-treasury-scott-bessent-tariffs-quit
John1956PA
(5,122 posts)lastlib
(28,744 posts)to swoop in with that offshore cash to buy back in at the low "Everything is going according to plan." THEIR plan, not yours. For THEIR benefit, not yours.
As the great Mr. Carlin said, "it's a club, and you ain't in it." You just get hit with it.
brush
(61,033 posts)just like everyone else and are dreading what will happen tomorrow.
trump's tariffs are creating an upheaval to the whole world's economy and the magats don't know how to fix it.
Renew Deal
(85,445 posts)"It's all part of the plan"
I'm not answering the question
ProfessorGAC
(77,473 posts)First, with these folks, there are never plans. Only impulsive ideas that get pushed through.
Second, they actually thought everyone in business & finance would be overjoyed with this move & they are surprised (the only ones) that this "genius" has been met with a negative reaction.
Hence, the sudden spin about "short term pain, long term gain". They never emphasized that before the reaction happened.
He's just avoiding giving an answer because there is no good one.
senseandsensibility
(25,797 posts)I wish Kristin Welker would just say "What does that mean?" or "How does high volume change the fact that six trillion dollars was lost?" There doesn't seem to be much appetite to pin these people down, even by our elite "journalists".
Maru Kitteh
(32,041 posts)The administration would like you to notice that there has been a large change in elevation, but your fall has been smooth so far, and you are still breathing fairly normally, if you would just please stop screaming.
GreenWave
(12,874 posts)They are non stop bs.