'He’s getting bad advice': Trump is 'wreaking havoc' with the 'very good economy' he inherited
President Donald Trump with Commerce Secretary Howard Lutnick on February 21, 2025
Watch the full video below or at this link.
Egg prices have 'soared' — even as Trump insists they have 'come down a lot'President Donald Trump with Commerce Secretary Howard Lutnick on February 21, 2025
(Wikimedia Commons)
Alex Henderson
March 12, 2025
Alex Henderson
March 12, 2025
ALTERNET
President Donald Trump continues to claim that he inherited a "horrible" economy from former President Joe Biden. But in fact, the United States' unemployment rate in December 2024, Biden's last full month in office, was only 4.1 percent (according to the U.S. Bureau of Labor Statistics). And the U.S. enjoyed record-low unemployment earlier in Biden's term.
Trump is promising major economic growth, but Paul Krugman and other economists, along with business leaders, fear that his economic policies — from aggressive tariffs against U.S. allies to gutting the federal workforce to mass layoffs of federal workers — will push the United States into a recession. And the Dow Jones, according to CNN, fell by 890 points on March 10.
Washington Post columnist Catherine Rampell addressed the worries of economists, business leaders and consumers during a Wednesday, March 12 appearance on MSNBC's "Morning Joe." And she laid out a variety of reasons why Trump's policies are giving them major anxiety.
When host Joe Scarborough noted how badly the stock market has been tanking, Rampell — who MSNBC recently hired as a weekend host — replied, "It's just insane. I cannot fathom why Trump is doing this, except for the fact that: (A) He's in love with tariffs. He's a tariff man. And (B): [It's] worth reminding people that the two people who are egging Trump on to wage trade wars against our friends and allies are people…. who used to work for the steel industry. The U.S. trade representative represented Cleveland-Cliffs, a major steel company in the United States."
Rampell cited "Trump's trade guru," Peter Navarro, as another negative influence on his economic policies.
The Post columnist told Scarborough and fellow "Morning Joe" host Mika Brzezinski, "So, he's getting bad advice, I guess. Even if he got good advice, I'm not sure he would follow it. But clearly, markets are very unhappy with how things are going, as they should be."
Although Trump often attacks Biden's economic policies, Rampell noted that he "inherited quite a good economy, actually" from the previous administration.
"Trump actually inherited very strong economic growth, low unemployment, cooling — if not quite low enough — inflation," Rampell explained. "A lot of very good trends. And the best thing he could have done when he came into office, as I have said many times, is just nothing at all. You know, go play golf, take credit for the gains he was already inheriting. And instead, of course, he is wreaking havoc."
Rampell continued, "He's not only creating a lot more uncertainty and potentially higher costs for businesses, which will then be passed along, at least in part, to consumers. He's also threatening to deport half of the agricultural labor force, which also threatens to increase food prices. He's leaning on the Federal Reserve. I think this is sort of the sleeper story of this year. He did this last time, of course, when he was president. It would be very bad now for him to be seen as strongarming the Fed, which has historically, (been) politically independent (and) needs that political independence for its credibility…. And so, a lot of reasons to think he's messing up a very nicely wrapped gift that he had gotten.
President Donald Trump continues to claim that he inherited a "horrible" economy from former President Joe Biden. But in fact, the United States' unemployment rate in December 2024, Biden's last full month in office, was only 4.1 percent (according to the U.S. Bureau of Labor Statistics). And the U.S. enjoyed record-low unemployment earlier in Biden's term.
Trump is promising major economic growth, but Paul Krugman and other economists, along with business leaders, fear that his economic policies — from aggressive tariffs against U.S. allies to gutting the federal workforce to mass layoffs of federal workers — will push the United States into a recession. And the Dow Jones, according to CNN, fell by 890 points on March 10.
Washington Post columnist Catherine Rampell addressed the worries of economists, business leaders and consumers during a Wednesday, March 12 appearance on MSNBC's "Morning Joe." And she laid out a variety of reasons why Trump's policies are giving them major anxiety.
When host Joe Scarborough noted how badly the stock market has been tanking, Rampell — who MSNBC recently hired as a weekend host — replied, "It's just insane. I cannot fathom why Trump is doing this, except for the fact that: (A) He's in love with tariffs. He's a tariff man. And (B): [It's] worth reminding people that the two people who are egging Trump on to wage trade wars against our friends and allies are people…. who used to work for the steel industry. The U.S. trade representative represented Cleveland-Cliffs, a major steel company in the United States."
Rampell cited "Trump's trade guru," Peter Navarro, as another negative influence on his economic policies.
The Post columnist told Scarborough and fellow "Morning Joe" host Mika Brzezinski, "So, he's getting bad advice, I guess. Even if he got good advice, I'm not sure he would follow it. But clearly, markets are very unhappy with how things are going, as they should be."
Although Trump often attacks Biden's economic policies, Rampell noted that he "inherited quite a good economy, actually" from the previous administration.
"Trump actually inherited very strong economic growth, low unemployment, cooling — if not quite low enough — inflation," Rampell explained. "A lot of very good trends. And the best thing he could have done when he came into office, as I have said many times, is just nothing at all. You know, go play golf, take credit for the gains he was already inheriting. And instead, of course, he is wreaking havoc."
Rampell continued, "He's not only creating a lot more uncertainty and potentially higher costs for businesses, which will then be passed along, at least in part, to consumers. He's also threatening to deport half of the agricultural labor force, which also threatens to increase food prices. He's leaning on the Federal Reserve. I think this is sort of the sleeper story of this year. He did this last time, of course, when he was president. It would be very bad now for him to be seen as strongarming the Fed, which has historically, (been) politically independent (and) needs that political independence for its credibility…. And so, a lot of reasons to think he's messing up a very nicely wrapped gift that he had gotten.
Watch the full video below or at this link.
NEW CIVIL RIGHTS MOVEMENT
March 12, 2025
As President Donald Trump showcased Tesla electric vehicles on the South Lawn of the White House on Tuesday, he faced questions about the timing of what is being called a “car commercial.” With stock markets tumbling—taking retirement accounts with them—and some Americans grappling with job uncertainty, some wondered about his decision to highlight automobiles made by a company run by his top advisor and largest donor, Elon Musk.
But President Trump insisted everything was fine.
“Well I think they’re going to do great,” he said, insisting that prices are “all coming down” as he complained about the economy he “inherited.”
“We didn’t have these problems,” Trump told reporters, referring to his first term in office.
“I had no inflation. I had a great economy. He gave you high prices,” Trump said, criticizing President Joe Biden.
“You couldn’t buy bacon, you couldn’t buy anything, and also, I inherited a situation with eggs,” Trump said. “The price of eggs was through the roof. Well, now the price of eggs has come down a lot.”
“It’s all coming down. It’s all a beautiful thing,” Trump proclaimed.
Wednesday morning, The Associated Press reported, “US egg prices increased by an average of 10.4% last month, Consumer Price Index shows.”
“Egg prices have soared nearly 59% compared with a year ago, and is by far the highest inflated price on the Consumer Price Index report,” Fox9, a Fox affiliate, added.
The Consumer Price Index released one month ago also showed egg prices had risen to a “record high.”
“Egg prices hit a record high as the U.S. contends with an ongoing bird flu outbreak, but consumers didn’t need government figures … to tell them eggs are terribly expensive and hard to find at times,” the Associated Press reported last month.
On Tuesday, U.S. Secretary of Agriculture Brooke Rollins declared that the “average cost of a dozen eggs has now gone down $1.85 since we announced our plan about a week-and-a-half ago,” before appearing to also blame the high cost of eggs on “Easter season.”
Separately on Tuesday, Secretary Rollins wrote: “Wholesale egg prices dropped roughly ~$2.60/dozen from their peak this month — prices will likely fluctuate but relief is in sight as we fix what Biden broke!”
Secretary Rollins did not mention her source, but the weekly “Egg Markets Overview,” a publication of her USDA, on March 7 reported that a decline in demand was the cause for lower wholesale egg prices.
Last week, Secretary Rollins suggested Americans might want to consider raising chickens in their backyards to alleviate the high cost of eggs.
Watch the Trump Tesla event below or at this link
As President Donald Trump showcased Tesla electric vehicles on the South Lawn of the White House on Tuesday, he faced questions about the timing of what is being called a “car commercial.” With stock markets tumbling—taking retirement accounts with them—and some Americans grappling with job uncertainty, some wondered about his decision to highlight automobiles made by a company run by his top advisor and largest donor, Elon Musk.
But President Trump insisted everything was fine.
“Well I think they’re going to do great,” he said, insisting that prices are “all coming down” as he complained about the economy he “inherited.”
“We didn’t have these problems,” Trump told reporters, referring to his first term in office.
“I had no inflation. I had a great economy. He gave you high prices,” Trump said, criticizing President Joe Biden.
“You couldn’t buy bacon, you couldn’t buy anything, and also, I inherited a situation with eggs,” Trump said. “The price of eggs was through the roof. Well, now the price of eggs has come down a lot.”
“It’s all coming down. It’s all a beautiful thing,” Trump proclaimed.
Wednesday morning, The Associated Press reported, “US egg prices increased by an average of 10.4% last month, Consumer Price Index shows.”
“Egg prices have soared nearly 59% compared with a year ago, and is by far the highest inflated price on the Consumer Price Index report,” Fox9, a Fox affiliate, added.
The Consumer Price Index released one month ago also showed egg prices had risen to a “record high.”
“Egg prices hit a record high as the U.S. contends with an ongoing bird flu outbreak, but consumers didn’t need government figures … to tell them eggs are terribly expensive and hard to find at times,” the Associated Press reported last month.
On Tuesday, U.S. Secretary of Agriculture Brooke Rollins declared that the “average cost of a dozen eggs has now gone down $1.85 since we announced our plan about a week-and-a-half ago,” before appearing to also blame the high cost of eggs on “Easter season.”
Separately on Tuesday, Secretary Rollins wrote: “Wholesale egg prices dropped roughly ~$2.60/dozen from their peak this month — prices will likely fluctuate but relief is in sight as we fix what Biden broke!”
Secretary Rollins did not mention her source, but the weekly “Egg Markets Overview,” a publication of her USDA, on March 7 reported that a decline in demand was the cause for lower wholesale egg prices.
Last week, Secretary Rollins suggested Americans might want to consider raising chickens in their backyards to alleviate the high cost of eggs.
Watch the Trump Tesla event below or at this link
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