this post was submitted on 23 Apr 2025
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Summary

Trump had to reverse his aggressive tariff rhetoric after CEOs from Walmart, Target, and Home Depot warned of empty shelves and higher prices due to supply chain disruptions.

Investors reacted negatively to his threats against Fed Chair Jerome Powell, prompting a market sell-off.

Trump backtracked, expressing optimism on a China trade deal and now denying plans to fire Powell.

Global markets remain volatile, and the IMF cited Trump’s trade war as a “major negative shock” to global growth.

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[–] CileTheSane@lemmy.ca 53 points 1 day ago (4 children)

I'll never see how so many think Trump is one of the smartest people in any room.

"He's rich so he must be smart. You have to be smart to get that rich. This must all be part of the plan for the smart rich guy."

Mix that in with a 'Just World Fallacy' (Good people succeeded and bad People fail. Therefore anyone who has as much wealth and power as Trump must be a good person worth listening to) and you have the people who support Trump.

[–] CharlesDarwin@lemmy.world 1 points 13 minutes ago

Worthington's Law.

[–] aceshigh@lemmy.world 7 points 14 hours ago

Yup. That’s my dad. He’s confused now. He thought musk and Trump were smart because they were very wealthy. He’s finding it hard to understand that these people just inherited their wealth, and they’re able to be visible in the public eye, make money and take risks because of how much they have and not because they’re smart. Their arrogance is funny - Ie: musk unable to find the relationship between his nazi salute, his work at DOGE, and decreasing revenue in Tesla. Never heard of causation.

[–] Treetrimmer@sh.itjust.works 5 points 14 hours ago (1 children)

You could've just said trump supporters to dumb af

[–] CileTheSane@lemmy.ca 2 points 13 hours ago (1 children)
[–] bluegreenwookie@bookwormstory.social 20 points 23 hours ago (1 children)

Honestly i saw so many interviews during his first run with trump supporters that said exactly that first phase you said

[–] DarkDarkHouse@lemmy.sdf.org 13 points 21 hours ago

Way to entrench the status quo benefiting the rich. Get people to believe only the rich are smart and therefore worth listening to.