Trump says he's 'OK' with a recession in order to achieve his long-term goals
President Donald Trump and NBC News' "Meet the Press" host Kristen Welker (Image: Screengrab via CNN / NBC News / YouTube)
President Donald Trump and NBC News' "Meet the Press" host Kristen Welker (Image: Screengrab via CNN / NBC News / YouTube)
May 02, 2025
ALTERNET
President Donald Trump didn't write off the possibility of an economic recession during a recent interview with Kristen Welker of NBC News' "Meet the Press."
On Friday, CNN host Erin Burnett played the clip of Trump's comment about a potential recession, before the full interview airs this Sunday. When Welker asked Trump directly whether he was "OK" with the economy temporarily dipping into a recession if it meant his long-term goals would be achieved, the president paused and then appeared to accept that as a possibility.
"Are you comfortable with the country potentially dipping into a recession for a period of time, if you are able to achieve your long term goals?" Welker asked.
"I'll tell you something else: Some people on Wall Street say that we're going to have the greatest economy in history," Trump said. "Why don't you talk about them? Because some people on Wall Street say—"
"—That's what I'm getting at," Welker interjected. "That's what i'm getting at. It's the same question ... the long term. Is it okay in the short term to have a recession?"
"Look, yeah. Everything's okay. What we are, I said this is a transition period," Trump said. "I think we're going to do fantastically."
Watch the clip below, or by clicking this link.
President Donald Trump didn't write off the possibility of an economic recession during a recent interview with Kristen Welker of NBC News' "Meet the Press."
On Friday, CNN host Erin Burnett played the clip of Trump's comment about a potential recession, before the full interview airs this Sunday. When Welker asked Trump directly whether he was "OK" with the economy temporarily dipping into a recession if it meant his long-term goals would be achieved, the president paused and then appeared to accept that as a possibility.
"Are you comfortable with the country potentially dipping into a recession for a period of time, if you are able to achieve your long term goals?" Welker asked.
"I'll tell you something else: Some people on Wall Street say that we're going to have the greatest economy in history," Trump said. "Why don't you talk about them? Because some people on Wall Street say—"
"—That's what I'm getting at," Welker interjected. "That's what i'm getting at. It's the same question ... the long term. Is it okay in the short term to have a recession?"
"Look, yeah. Everything's okay. What we are, I said this is a transition period," Trump said. "I think we're going to do fantastically."
Watch the clip below, or by clicking this link.
MSNBC screenshot
Alex Henderson
May 02, 2025
ALTERNET
Major retailers, from Walmart to Dollar Tree to Home Depot, are being candid about having to raise their prices because of President Donald Trump's steep new tariffs. And some chains are already raising prices.
During an Friday morning, May 2 appearance on MSNBC's "Morning Joe," Stephanie Ruhle — who hosts MSNBC's late-night show "The 11th Hour" — warned that for U.S. consumers, things are going to get much worse in the weeks and months to come.
Ruhle told "Morning Joe" host Joe Scarborough and his colleague Willie Geist, "What we're doing with China mano a mano is devastating for businesses. And when you talk about the unemployment number, we don't know what it's going to be yet. But the worst is yet to come."
Ruhle added, "When you've got Apple, one of the most profitable countries in the world, that got one of the first exemptions from the president….. When they're telling you they're going to take a $900 million hit, what do you think it's going to do for the toy store in your downtown?"
Treasury Secretary Scott Bessent is echoing Trump's claim that even if the tariffs create some short-term financial pain, they will lead to widespread prosperity in the long run. Geist asked Ruhle if Bessent really believes that, and the "11th Hour" host didn't hesitate to question his sincerity.
Ruhle told Geist, "From the sources that I speak to, who are Scott Bessent's former colleagues, competitors, peers — no, not one word of it. And I think that's the hardest thing. We all know it's difficult to be on TV, but the reason he might appear awkward on television is because he knows he's not telling the truth. And, you know…. he just said earlier this week: we're not going back to the jobs of the past. We're bringing back industrial jobs of the future. "
Ruhle continued, "Willie, if that were the case, then wouldn't we see exemptions for apparel companies? Because the jobs of the future are not bringing back sweatshops, clothing manufacturers. We are a manufacturing hub. We're the second largest manufacturer in the world. What we have figured out over time is how to optimize our manufacturing."
Watch the full video below or at this link.
'Act of war': Warren Buffett is rocking financial world with a new Trump warning
Berkshire Hathaway CEO Warren Buffett
On Saturday morning, May 3, one of Wall Street's most prominent billionaires — Berkshire Hathaway CEO Warren Buffett — sounded the alarm about President Donald Trump's steep new tariffs during the company's annual shareholder media.
Buffett, according to Forbes, told attendees that "trade should not be a weapon" for the United States, which "should be looking to trade with the rest of the world." And he described tariffs as "an act of war, to some degree."
Some economists fear that Trump's trade war will lead to a weakening of the U.S. dollar, but Buffett said, "We wouldn't want to be owning anything in a currency we really thought was going to hell."
Buffett's comments are drawing plenty of responses on X, formerly Twitter.
Joe Wiggins tweeted, "Warren Buffett has issued a massive warning on the dangers of protectionism, arguing that trade should not be used as a political weapon and calling tariffs 'an act of war' that can lead to damaging consequences."
Quasar Markets said of Buffett, "He warns that protectionism is a strategic error — risking U.S. prosperity and global goodwill. Tariffs = economic warfare Markets = stabilized only after a 90-day pause Buffett's holding cash ($347B!) His moves say it all. Global cooperation > economic isolation…. Buffett's stance: Strong anti-tariff; believes trade promotes mutual prosperity and security. Direct jab at Trump's policy: Though not by name, he critiques the administration's 'weaponization' of trade. Tariff shockwave: Trump’s 145% tariff on Chinese goods, countered by China’s 125% levy, rattled markets. Buffett’s defensive posture: 10 straight quarters of stock selling; record $347B cash pile signals caution. Market read: Investors are watching Berkshire as a macro bellwether — this speech confirms major concern over trade friction."
X user Pramod Sharma wrote, "Warren Buffett, the sage of sensible economics, just eviscerated Trump's reckless trade wars, calling tariffs a 'big mistake' and warning they sabotage growth. Meanwhile, Trump's chaotic policies tank markets, strangle businesses, and betray Buffett's wisdom: 'Trade should not be a weapon.' Yet the fraud in Mar-a-Logo keeps wielding it like a club, proving he's an economic illiterate whose tariffs are self-inflicted wounds on America."
Another X user, Art Candee, commented, "Warren Buffett, billionaire chairman and CEO of Berkshire Hathaway, on Donald Trump's tariffs: Tariffs are 'an act of war, to some degree.' Over time, they are a tax on goods. I mean, the Tooth Fairy doesn't pay 'em!' Spot on, as usual."
KrassenCast's Ed Krassenstein noted that Buffett "came out against Trump's Tariffs in a major way."
"Warren Buffett has been such a great investor because he understands human psychology so well," Krassenstein posted. "He also gets the psychological effects that Tariffs have on people, leaders and other nations."
Berkshire Hathaway CEO Warren Buffett
May 03, 2025
ALTERNET
On Saturday morning, May 3, one of Wall Street's most prominent billionaires — Berkshire Hathaway CEO Warren Buffett — sounded the alarm about President Donald Trump's steep new tariffs during the company's annual shareholder media.
Buffett, according to Forbes, told attendees that "trade should not be a weapon" for the United States, which "should be looking to trade with the rest of the world." And he described tariffs as "an act of war, to some degree."
Some economists fear that Trump's trade war will lead to a weakening of the U.S. dollar, but Buffett said, "We wouldn't want to be owning anything in a currency we really thought was going to hell."
Buffett's comments are drawing plenty of responses on X, formerly Twitter.
Joe Wiggins tweeted, "Warren Buffett has issued a massive warning on the dangers of protectionism, arguing that trade should not be used as a political weapon and calling tariffs 'an act of war' that can lead to damaging consequences."
Quasar Markets said of Buffett, "He warns that protectionism is a strategic error — risking U.S. prosperity and global goodwill. Tariffs = economic warfare Markets = stabilized only after a 90-day pause Buffett's holding cash ($347B!) His moves say it all. Global cooperation > economic isolation…. Buffett's stance: Strong anti-tariff; believes trade promotes mutual prosperity and security. Direct jab at Trump's policy: Though not by name, he critiques the administration's 'weaponization' of trade. Tariff shockwave: Trump’s 145% tariff on Chinese goods, countered by China’s 125% levy, rattled markets. Buffett’s defensive posture: 10 straight quarters of stock selling; record $347B cash pile signals caution. Market read: Investors are watching Berkshire as a macro bellwether — this speech confirms major concern over trade friction."
X user Pramod Sharma wrote, "Warren Buffett, the sage of sensible economics, just eviscerated Trump's reckless trade wars, calling tariffs a 'big mistake' and warning they sabotage growth. Meanwhile, Trump's chaotic policies tank markets, strangle businesses, and betray Buffett's wisdom: 'Trade should not be a weapon.' Yet the fraud in Mar-a-Logo keeps wielding it like a club, proving he's an economic illiterate whose tariffs are self-inflicted wounds on America."
Another X user, Art Candee, commented, "Warren Buffett, billionaire chairman and CEO of Berkshire Hathaway, on Donald Trump's tariffs: Tariffs are 'an act of war, to some degree.' Over time, they are a tax on goods. I mean, the Tooth Fairy doesn't pay 'em!' Spot on, as usual."
KrassenCast's Ed Krassenstein noted that Buffett "came out against Trump's Tariffs in a major way."
"Warren Buffett has been such a great investor because he understands human psychology so well," Krassenstein posted. "He also gets the psychological effects that Tariffs have on people, leaders and other nations."
'Doesn't work in any way': Finance expert exposes 'fantastical math' at heart of GOP plan
David McAfee
May 3, 2025
Donald Trump has teased a tax plan that one finance expert deemed likely impossible.
Ron Insana, a finance reporter, author and former hedge fund manager, appeared on MSNBC on Saturday to discuss Trump's latest policy proposal for eliminating income tax altogether. Trump said the money coming in from tariffs on foreign trade would make up the difference.
When asked by host Alex Witt, "Does this add up for you?" Insana replied, "Not even in the least."
Regarding Trump's proposal, Insana said, "If we wanted to do that, not that it would be possible," the Trump White House would have to engage in some "fantastical math."
Pointing out that the tariff amount on every nation would have to be incredibly high to pay for what the government gets from income taxes, Insana noted that there would have to be some gymnastics if Trump's administration is going to "make any of those numbers work."
Going even further, Insana said of Trump's ultimate goals, "This is not the way you do it," because the tariffs will also reduce demand "because prices go up and products disappear."
"It doesn't work any way shape or form," he added.
Watch below or click here.
David McAfee
May 3, 2025
RAW STORY
Donald Trump has teased a tax plan that one finance expert deemed likely impossible.
Ron Insana, a finance reporter, author and former hedge fund manager, appeared on MSNBC on Saturday to discuss Trump's latest policy proposal for eliminating income tax altogether. Trump said the money coming in from tariffs on foreign trade would make up the difference.
When asked by host Alex Witt, "Does this add up for you?" Insana replied, "Not even in the least."
Regarding Trump's proposal, Insana said, "If we wanted to do that, not that it would be possible," the Trump White House would have to engage in some "fantastical math."
Pointing out that the tariff amount on every nation would have to be incredibly high to pay for what the government gets from income taxes, Insana noted that there would have to be some gymnastics if Trump's administration is going to "make any of those numbers work."
Going even further, Insana said of Trump's ultimate goals, "This is not the way you do it," because the tariffs will also reduce demand "because prices go up and products disappear."
"It doesn't work any way shape or form," he added.
Watch below or click here.
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