

Wall Street Goes to Defcon 1
36 snips Apr 8, 2025
Bill Cohan, author of "Dry Powder" and Wall Street expert, joins Peter for an intense discussion on Trump's trade war and its implications. They delve into alarming warnings from financial heavyweights like Bill Ackman and Jamie Dimon, raising concerns over an impending recession. The conversation shifts to the crypto market's dramatic collapse and waning consumer confidence, highlighting the precarious state of the economy and what lies ahead. Cohan's insights make the complexities of today's market both illuminating and urgent.
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Ackman's Change of Heart
- Bill Ackman's support for Trump has wavered due to recent financial losses.
- He now criticizes Trump's trade policies after his investment firm experienced significant declines.
Investor Meltdown
- Investors who once supported Trump are now expressing concerns about his trade war's impact.
- Many fear a recession and want Trump to clarify his strategy, showing a shift in sentiment.
Trump's Predictable Actions
- Cohan questions the judgment of those surprised by Trump's actions, given his past behavior.
- He expresses concern over Trump's extra-constitutional actions and retribution.