Drill baby drill is just one of President Trump’s strategies to make the USA Great again. He is setting international trade tariffs to be reciprocal with other nations which in his mind will bring billions of dollars into the economy. Federal employees are being forced to work from their offices instead of working from home, or leave, and according to one of Trump’s speeches recently, America has already saved $55 billion from this alone.
However, according to a report from CNN written Thursday 6th March, the Nasdaq has fallen more than 7% since Trump took office, and the S&P 500 is down more than 4%. Investor sentiment is struggling due to the persistent uncertainty around tariffs, according to Rob Haworth, a senior investment strategist at US Bank Wealth Management.
Trump talks big, typical of an extreme progressive leader though extremely optimistic that everything he’s doing is going to save billions while foreign manufacturers setting up business units in the USA will bring trillions. On one hand after listening to several of his regular pep talks it sounds like he wants to be earth’s most outstanding leader. Certainly, he has the cards to do it!!!
The US economy faces a potential slowdown in consumer spending amid “heightened uncertainty about the economic outlook” among businesses, the Federal Reserve chair, Jerome Powell (Republican), said on Friday 7th March.
Powell spoke at a volatile time, with stock markets and bond yields both declining in the wake of Donald Trump's whiplash announcements of steep import tariffs on major trading partners Mexico and Canada, followed by delays in implementing them. Trump has also doubled tariffs on imports from China.
It is too early to say Trump doesn’t know what he is doing. He’s a businessman who has a lot of experience. Yes, he’s had his ups and downs, including four bankruptcies from his first The Trump Taj Mahal in 1991 to his 4th Trump Entertainment Resorts in 2009.
Nevertheless, he must have learned his lesson as 16 years have passed since the last bankruptcy which are business related and not from his private estate. In his first term as president the stock market flew upwards apart from the Covid Pandemic which caused economic gloom around the world.
Through Biden's four-year term, which ended January 20, 2025, the S&P 500 gained 57.85%. In Trump's first term, the S&P 500 gained nearly 68%. In fact, Trump’s accomplishments during his first term in office are readily available to be seen.
Trump is bold and a little bit cocky, but at the end of the day, if he manages to pull off what would be a triumphant political maneuver for American prosperity then good luck to him!
Take care!
Prof. Carl Boniface
Vocabulary builder:
A pep talk is a speech which is intended to encourage someone to make more effort or feel more confident.
Whiplash (n) 1. the flexible part of a whip or something resembling it. 2. injury caused by a severe jerk to the head, typically in a motor-vehicle accident. As a verb (v) jerk or jolt (someone or something) suddenly, typically so as to cause injury. "The force of impact had whiplashed the man's head." In the above (article) whiplash is referring to a time when something changed suddenly.
"suffering from whiplash, he spent weeks with his neck in a collar"
Gloom (n) = pessimism, despair, sadness, dejection, unhappiness, misery, despondency, gloominess, melancholy, (ant) happiness
Cocky (adj) = conceited or arrogant, especially in a bold or impudent way. "We were young, brash, cocky—we knew everything"
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