'We turned out to be the loser': Financial analyst blasts Trump over his economic fiasco
The path that Donald Trump has chosen for America's economic future with his tariff war will result in the U.S. coming out on the bottom, claimed MSNBC "Morning Joe" financial analyst Steve Rattner.
On Friday morning, the noted investment analyst stood before a series of charts and explained that the president will do extensive damage to America's GDP, unless he changes course and backs down as the stock marker craters.
Getting deep into the weeds, he explained to co-hosts Joe Scarborough, Willie Geist and Jonathan Lemire, "Let's start with the stock market yesterday. We talked about the almost 5 percent drop. This is actually $5 trillion of wealth lost since the inauguration. The stock market had already been starting to go down as people got more and more nervous about what Trump was or wasn't going to do –– so a huge drop."
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"But here's what's actually quite interesting," he added as he pointed at his graphics. "The stock market dropped here was actually larger than the stock market drop in every other major index, every other major country. In Japan, it was down 2.8 percent. In Europe it was down 2.6 percent. In the U.K. just 1.6, and in China just 0.6%. So why is that?"
"Trump thinks he's hurting all these people," he continued. "He thinks everything is, you know, negotiation where somebody wins and somebody loses and he thought he was the winner and we turned out to be the loser."
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