Despite Trump’s repeated claims, numerous economic indicators demonstrate that he inherited a robust US economy from Biden. Key metrics like unemployment (4.1%), inflation (2.9%), and GDP growth (3.1%) were all favorable at the end of Biden’s term, exceeding those of many other G7 nations. Furthermore, job growth under Biden significantly surpassed that of Trump’s first term, and manufacturing jobs saw a substantial increase. Economists widely refuted Trump’s assertions, characterizing the economy Biden left behind as exceptionally strong.
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Fueled by President Trump’s threat of new tariffs on the European Union, US stocks experienced a significant downturn Thursday, pushing the S&P 500 into correction territory—down over 10% from its February high. This selloff, exacerbating existing concerns about trade uncertainty, follows a similar decline in the Nasdaq. The Dow fell by 537 points (1.3%), the S&P 500 dropped 1.39%, and the Nasdaq Composite decreased by 1.96%. While cooling inflation data initially offered some relief, escalating trade tensions ultimately dominated market sentiment.
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The upcoming four years represent a pivotal moment for America, demanding unwavering commitment to unbiased news coverage. HuffPost, facing this critical juncture, is launching an ad-free experience for qualifying contributors to sustain its mission of providing free, fair journalism. This initiative seeks to bolster the newsroom’s efforts in delivering crucial information to the public. Support from readers is vital to ensuring the continuation of this vital service.
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A new National Park Service report reveals that 325.5 million visitors to national parks in 2023 generated a record-high $55.6 billion in economic output for the U.S. This spending supported 415,400 jobs and $19.4 billion in labor income. The lodging and restaurant sectors were the largest beneficiaries, contributing $9.9 billion and $5.2 billion respectively. The report utilizes improved data for enhanced accuracy and is accessible online via an interactive tool.
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Despite initial support from many CEOs, President Trump’s economic policies, particularly his fluctuating tariff plans, have generated considerable concern among American executives. Leaders from Ford and General Motors cite increased costs and uncertainty as significant challenges, hindering long-term planning and investment. This uncertainty, amplified by workforce reductions and immigration slowdowns, is viewed by several financial experts as a significant impediment to economic growth. While some remain optimistic, a palpable sense of unease pervades the business community regarding the current economic trajectory.
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Larry Kudlow, a Trump ally, predicts economic hardship for Americans, citing high prices and low job growth. He blames the Biden administration, attributing high costs to factors such as bird flu and new tariffs imposed during the Trump administration. These tariffs, along with cost-cutting measures within the federal government, are projected to further exacerbate the economic downturn. However, Kudlow insists these negative economic trends are unrelated to Trump’s policies, despite evidence suggesting otherwise, such as the immediate stock market decline following the announcement of new tariffs.
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Canada’s retaliatory tariffs on US goods are set to begin this Tuesday, Prime Minister Trudeau has announced. This action is a direct response to unjustified tariffs imposed by the United States, tariffs that are predicted to significantly impact American consumers and the overall economy. The ripple effects could be substantial, increasing the cost of everyday goods like groceries, gas, and cars for Americans.
This economic counter-offensive isn’t just about tit-for-tat retaliation; it’s a calculated move targeting key sectors where Canada holds a significant advantage. The impact on the US economy is expected to be substantial because of Canada’s dominance in vital resources.… Continue reading
President Trump’s announcement of new tariffs on Canada, Mexico, and China sent US stocks plummeting on Monday. The Dow Jones Industrial Average fell 650 points, the S&P 500 dropped 1.76%, and the Nasdaq Composite declined 2.64%, marking the S&P 500’s largest single-day drop of the year. These tariffs, totaling $1.4 trillion in affected imported goods, are intended to pressure trading partners to increase domestic production in the US and stem the flow of fentanyl. Investor uncertainty surrounding the tariffs and their potential impact on the economy fueled market volatility and triggered a surge in the VIX, a measure of market fear.
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The Conference Board’s February consumer confidence index plummeted to 98.3, a seven-point drop representing the largest monthly decline in over four years. This sharp decrease, significantly below economist projections, reflects growing concerns about persistent inflation and the potential for a trade war. The report revealed declines in short-term expectations for income and business conditions, with pessimism about future employment reaching a ten-month high. This downturn in consumer confidence, coupled with a recent sharp drop in retail sales, signals a potential economic slowdown.
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Trump’s recent comments regarding Elon Musk potentially building a factory in India highlight a fascinating shift in their seemingly symbiotic relationship. The idea that it would be unfair to the US if Musk chose India as a manufacturing location speaks volumes about Trump’s evolving perspective on global economics and his own position within the power dynamic he shares with Musk.
It’s tempting to dismiss this as mere political theater, a calculated move to maintain a semblance of independence from Musk’s considerable influence. The very notion that Trump, a long-standing advocate for protectionist policies and tariffs, is now implicitly acknowledging the complexities of such measures suggests a significant, albeit potentially reluctant, recalibration of his thinking.… Continue reading
John Q. Hosedrinker 
Matt Underwood