President Trump’s sudden suspension of tariffs resulted in a massive stock market surge, benefiting billionaires like Charles Schwab and Roger Penske, whom Trump publicly boasted about. This dramatic market increase, totaling $304 billion in gains for the world’s wealthiest, prompted accusations of market manipulation and insider trading. Democratic representatives Schiff and Gallego have called for a congressional investigation into potential illegal activity. The White House has dismissed these calls as partisan.
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On Friday, President Trump promoted supporter claims that his actions are intentionally causing a stock market downturn as part of a strategic economic plan. One video featured a supporter attributing recent market drops to this “genius” strategy, while another highlighted an influencer’s assertion that the market crash is designed to benefit the middle class through specific financial maneuvers. However, these claims lack evidentiary support; for instance, a cited Warren Buffett endorsement was fabricated. The president’s promotion of these narratives is likely to intensify existing economic debate.
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Trump Media shares have taken a nosedive after the company announced plans to issue additional DJT stock. As an onlooker, it’s no surprise to see the stock plummeting, down 14% as of 9:53 AM. It seems like this isn’t your typical stock market situation; rather, it feels like a way to potentially bribe Trump if he wins in November. I can’t help but feel a mix of pity and disbelief for those who invested in this hyped up penny stock, only to see it shed another 10% in value. The situation seems almost comical if it wasn’t so tragic for the unsuspecting shareholders caught in the scheme.… Continue reading
John Q. Hosedrinker