Best of the Spectator Americano: has trump stopped the oligarchy?
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Apr 8, 2025 
Joe Weisenthal, co-host of Bloomberg’s Odd Lots podcast, dives into the recent turbulence in global financial markets following President Trump's tariff announcements. He discusses how a misinterpreted news clip led to a wild $4 trillion market swing, highlighting the volatility investors face. The talk also explores the complexities of trade policies, the administration's financial strategies, and the contradictions within Trump's support base—particularly regarding the impacts on the working class and the role of cryptocurrencies.
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Misinterpreted News Fuels Market Volatility
- Financial markets rallied briefly due to a misinterpreted news headline about Trump's tariffs.
- This surge, driven by a TV clip and subsequent inaccurate reporting, quickly reversed when the truth emerged.
Market Irrationality
- Freddy Gray challenges the notion of market rationality, citing their volatile reaction to Trump's tariffs.
- Weisenthal agrees, markets are currently driven by uncertainty.
Inconsistent Tariff Rationale
- Trump's tariff strategy lacks a consistent rationale, causing market uncertainty.
- Multiple, conflicting justifications create confusion about the true goals and potential outcomes.