The stock market crashed Wednesday under the Trump administration as the Gross Domestic Product fell by 0.3% when economists estimated there would be a rise of 0.4%.
Markets and investors have lost trillions of dollars because of Trump’s demented obsession with tariffs since he took office.
MAGA blowhard Peter Navarro told CNBC that Wednesday’s bad news was great news because when you ignore and strip out all the awful data, there’s good news underneath.
Jim Cramer interviewed the faux China expert
But I got to say just one thing about today’s news.
That’s the best negative print I have ever seen in my life.
And the markets need to, like, look beneath the surface of that.
We had a 22 percent increase in domestic investment.
That is off the charts.
When you strip out inventories and with negative effects of the surge in imports because of the tariffs, you have three percent growth.
There has been a rise in imports “as companies and consumers sought to get ahead of the Trump tariffs implemented in early April.”
The markets can’t ignore the effects of Trump’s actions, but listening to Navarro lie, he’d like you to believe tariffs and Trump’s insane plans had nothing to do with today’s market collapse.
Cramer did not address a follow-up question and moved back to his topic, China.
