NEW ?A quick thread of charts showing how Trump’s economic agenda is going so far:1) US consumers are reacting very very negatively.These are the worst ratings for any US government’s economic policy since records began.
3) That was just the US version.What’s particularly impressive is that he’s managed this on a global scale.Starting to get the feeling that “Trump” annotation is going to be the chart equivalent of a layer of volcanic ash in the fossil record.
6) Just 25% of US adults say they expect their finances to look better in five years than today.That’s lower even than at the nadir of the Great Recession.
7) This one is fun:Remember when Trump won the “inflation election”, as voters united behind him because they were p***ed off with rising prices?Fast forward a few months and Americans’ inflation expectations are now as high as they were at the peak of Biden-era price rises.
8) And this one is important.For all the talk about the powerful pro-Trump media ecosystem, the share of Americans who have heard negative business news coverage of the government has exploded.Evidently even the podcast bros can’t distract Americans from the realities of the stock market.
9/9 And another angle on the same dynamic:Trump’s approval is holding up very well with Maga, but he’s rapidly losing support among the rest of the coalition who voted for him in November.Or to put it another way, the view from inside the Maga echo chamber remains rosy. Outside, not so much…
More in this week’s column:Trump’s tariffs are what you get when you put an erratic strongman in charge of the economySomeone like Trump doesn’t just own the libs, moderates and conservatives take the hit toowww.ft.com/content/26d1…
And worth viewing all this within the context of this previous thread/piece:The current US government is just completely unlike anything else we’ve seen from a major western country in the postwar era.Different values, different goals, different everything bsky.app/profile/jbur…
When Liz Truss soiled the bed and spooked the financial markets during her fugacious tenure as Prime Minister the men in grey suits intervened to end her premiership which reflects well on the Tory that they acted swiftly, after a fashion.
America has some options to oust an America Liz Truss such as impeachment or the Twenty-fifth Amendment but that requires a sufficient number of Republican Party members of Congress or the cabinet to grow a spine but that isn’t I would bet on happening.
One thing I would bet on is the Republicans getting utterly banjaxed in the midterms, particularly when it comes to the House, assuming free and fair elections are held.