The Daily Signal
VICTOR DAVIS HANSON: Don’t Be A ‘PANICAN' Over Trump's Tariffs, Wall Street
Apr 9, 2025
Victor Davis Hanson, a classicist and military historian, dissects the current economic turmoil related to Trump's tariff strategy. He argues that Wall Street's decline is rooted in panic rather than facts, citing a significant market growth during Trump's first term. Hanson highlights the impact of media hysteria on public perception and the economic reality of wealth disparity. He emphasizes the need for balanced trade agreements and challenges the narrative that Trump's policies are detrimental to the economy.
07:44
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Quick takeaways
- Panic surrounding Trump's tariff strategy is unfounded, as historical data shows significant market growth during his previous term despite media-driven fear.
- Wealth inequality in stock market ownership contributes to public distrust, with a small elite holding the majority of market value while wage growth stagnates for most Americans.
Deep dives
Market Panic and Misunderstanding
Panic on Wall Street appears to be unfounded, as it is not supported by hard data or sound economic indicators. For instance, under Donald Trump's administration, the market saw a significant growth of 65%, contradicting claims of market crashes associated with his policies. Employment figures have also exceeded predictions, with job reports revealing 100,000 more jobs than expected, challenging the notion that economic performance is bleak. This climate of fear seems to reflect historical precedents of market hysteria rather than a genuine economic downturn, driven by emotional responses rather than empirical evidence.
