Is Donald Trump Losing His Grip?
As stock markets continue their downward spiral, one must ask: has Donald Trump lost touch with reality? For a man whose ascent to the presidency was largely built on the promise of being a steady and reliable steward of America’s economy, he now seems to have forgotten the fundamental truth articulated by former President Bill Clinton’s adviser, James Carville, in 1992: “It’s the economy, stupid.” Since last Thursday, the major stock indices in the United States have been bleeding red ink, and traders are desperately looking to Trump for reassurance—any indication that he can be trusted to guide the nation’s financial destiny.
However, rather than providing the customary reassurances that might ease market anxieties, Trump appears determined to exacerbate the existing turmoil, jeopardizing his relationships with both influential business leaders and everyday American voters. During a weekend conversation aired on Fox Business, even one of his staunchest media allies, anchor Maria Bartiromo, expressed frustration. Known as the “money honey” from her tenure at CNBC, Bartiromo urged Trump to provide clarity to jittery traders. “CEOs want to see predictability,” she reminded him, criticizing the erratic nature of his trade war with Mexico and Canada. “Can you give us a sense of whether or not we’re going to get clarity for the business community?” she pressed.
In response, Trump stated, “Well, I think so”, but quickly followed up by suggesting that tariffs “could go up as time goes by.” Bartiromo, clearly exasperated, retorted, “So that’s not clarity,” challenging a president she usually defends vigorously. Trump’s subsequent comments indicated his weariness with business leaders who are clamoring for economic stability necessary for strategic planning. He dismissed the notion of clarity as merely a pleasant phrase, asserting, “for years, the globalists, the big globalists have been ripping off the United States.”
When pressed to name the specific “globalists” he blames for the stock market’s decline, Trump faltered. He even suggested he could not rule out the possibility of a recession occurring on his watch, which only fueled the ongoing market sell-off. Following Monday’s catastrophic drop, a White House official remarked that there exists “a strong divergence between the animal spirits of the stock market and what we’re actually seeing unfold from businesses and business leaders.” The administration insists that the 70 million Americans invested in the stock market should not be overly concerned about the plummeting values of their 401(k) retirement accounts.
February’s disappointing job numbers are also cited as part of a “temporary blip” affecting an economy that, according to Treasury Secretary Scott Bessent, is simply “starting to roll a bit.” In an interview with CNBC, Bessent argued that the markets are undergoing a “detox” as they react to the Trump administration’s austerity measures, which are overseen by Elon Musk’s fictitious Department of Government Efficiency. He contended that forthcoming tax cuts would eventually provide the necessary boost for economic recovery.
What Lies Ahead?
This message has quickly become the new mantra within the White House. Spokesman Kush Desai assured Americans on Monday night that “President Trump delivered historic job, wage, and investment growth during his first term, and is poised to do so again.” He confidently stated that the president’s “America First economic agenda”—characterized by tariffs, deregulation, and the unleashing of American energy through trillions in investment commitments—“will create thousands of new jobs.” Yet, like Trump’s ambitious $4.2 trillion tax cut proposal, all of this remains firmly in the realm of the future. Congress has yet to approve any of the president’s tax initiatives.
The ongoing tariff conflict with Canada, Mexico, and China is already causing the price increases that economists had long predicted. For instance, Ontario’s Premier Doug Ford imposed a 25 percent hike on electricity exports to the U.S. on Monday, further rattling markets. Traders are on edge due to Trump’s unpredictable stance on tariffs, and skepticism abounds regarding whether his much-publicized announcements of new industrial investments in the United States will translate into real manufacturing activity in the near term. The consequences are piling up, resembling a group of gamblers reeling at the end of a long night in a casino.
The financial gains that Trump’s wealthiest supporters—including Musk, Bezos, Zuckerberg, and Altman—reaped from his election have been completely erased. Many American voters who embraced Trump’s promises to lower prices and rectify what he termed years of incompetence under President Joe Biden are now left questioning whether they were misled. Like the historical figure King Canute, Trump seems to believe he can defy the inexorable forces of nature. However, a president who cannot articulate a plan to calm the markets or reassure concerned citizens, nor even guarantee short-term stability despite inheriting a relatively robust economy, may very well be charting a dangerous course toward disaster.
