Trump Is Destroying Everything He Touches
POSTED BY: JJ
UPDATED: Friday, September 11, 2026 20:30
VIEWED: 85257
PAGE 80 of 137
How Crypto Became a Trump Trade
It’s primarily a vehicle for crony capitalism now
By Paul Krugman | Oct 14, 2025
https://paulkrugman.substack.com/p/how-crypto-became-a-trump-trade
By now it’s obvious that Donald Trump suffers from CBS — Cowardly Bully Syndrome.
On Friday, Trump blasted China’s new export controls on rare earths, declaring them a “moral disgrace” which were “obviously a plan devised by them years ago.” And he threatened to impose 100 percent tariffs on China, on top of the already high existing tariffs.
Less than a day later he was groveling:
Donald J. Trump Truth Social Post 12:43 PM EST 10/12/25
Don’t worry about China, it will all be fine! Highly respected President Xi just had a bad moment. He doesn’t want Depression for his country, and neither do I. The U.S.A, wants to help China, not hurt it!!! President DJT
12:45 PM • Oct 12, 2025 788.4K Views
So it only took a few hours to go from “a plan devised by them years ago” to they “just had a bad moment,” from “moral disgrace” to “highly respected President Xi.” The Chinese must be having a good laugh: They took Trump’s measure and he came out looking very, very small.
But what caused this quick, abject retreat? I’d like to believe that economic experts within the administration took a sober look at the situation and concluded that China would have the upper hand in a trade war. But there are no economic experts in this administration, and anyway, who would dare to tell Trump anything he doesn’t want to hear?
No, Trump was almost certainly reacting to the markets. Stocks fell sharply Friday, but the really striking action came in crypto, where Bitcoin fell 20 percent and smaller, less liquid tokens fell even more. Here, to take an arbitrary example, is what happened to the value of the official Trump coin:
Also, it just so happens that Trump himself holds an estimated $870 million worth of Bitcoin, so he suffered large personal financial losses from the crypto crash.
This was the largest one-day crash crypto has experienced so far. My question, however, is why the prospect of an intensified trade war caused a crypto crash.
Oddly, I’ve seen almost no reporting about this issue. There has been a lot about the way the crypto crash was magnified by forced sales: Many crypto investors are highly leveraged, and there were many forced liquidations — with widespread speculation that one or more “whales,” that is, major players, may have imploded. But why did a threatened trade war cause crypto to fall in the first place?
The answer, I believe, has little to do with economics and everything to do with politics. These days crypto derives its value largely from the support of politicians and government officials — in particular, officials who can be bribed. As a result, at this point crypto is largely a Trump trade. And crypto fell because the backlash against the potential trade war threatened to weaken Trump politically.
A brief history of crypto: When Bitcoin, the original crypto asset, was introduced, enthusiasts predicted that it would displace conventional fiat money, that is, currency issued by governments. The blockchain, they claimed, would make transactions using cryptocurrency easier and cheaper than transactions using dollars. And cryptocurrencies would be safe from the ravages of the printing press: governments couldn’t debase your money through inflation.
That was more than 15 years ago, and crypto has completely failed to deliver on those promises. Almost nobody uses cryptocurrency as a means of payment. A recent research paper from the Federal Reserve Bank of Kansas City notes that
The share of U.S. consumers who report using cryptocurrency for payments—purchases, money transfers, or both—has been very small and has declined
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Quote:
Originally posted by SIGNYM:
Unfortunately the Dems have decided to shut down the government over things like healthcare for migrants https://www.zerohedge.com/political/democrats-get-frantic-over-trumps-
racist-mexican-bandito-memeand expanded ACA premium assist.
AFA the ACA premium assist ... ACA was Obama's abomination. Instead of Medicare for all (and reforming Medicare) or Medicare option, he caved to the insurers and tossed everyone not already in Medicare into the maw of private insurers with a sweetener of govt (i.e. tax dollars) money.
The 2021 expanded premium assistance was another Biden* giveaway.
More people signed up for insurance, but 40% of new enrollees never sought health services.
In other words, health insurers were getting more premiums, AND MORE GOVERNMENT MONEY, FOR NO SERVICES WHATSOEVER. FREE MONEY.
If we're really going to MAHA one thing we need to do is stop hemorrhaging $ into big pharma and insurers.
The whole setup is a big wet sloppy kiss to insurers and needs to be reformed. Cutting out insurance companies would help reduce that 30% that's spent on "administration" and the other 10% on profits.
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"It may be dangerous to be America's enemy, but to be America's friend is fatal."- Henry Kissinger
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Polling reveals Trump picked the WRONG FIGHT in shutdown battle
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Full List of Former Donald Trump Officials Refusing to Endorse Him
However, a number of the most-prominent figures from Trump's 2017 to 2021 administration are refusing to endorse him, and several have said they are actively working against his reelection.
Newsweek has compiled a list of some of the most-notable figures from the Republican's first term in office who are refusing to support his 2024 presidential bid.
https://www.newsweek.com/full-list-former-donald-trump-officials-refus
ing-endorse-him-1882733
Still, a lot of morons voted for him.
T
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T
TARIFF INFLATION FRANKENSTEIN
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For all that I've blessed, and all that I've wronged. In dreams until my death, I will wander on.
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Plummeting bank stocks lead global selloff as fear of private credit ‘contagion’ moves across equities and the dollar
Global markets fell sharply after two U.S. regional banks disclosed exposure to fraudulent loans, sparking fears of wider problems in the private credit market. Bank stocks, Asian and European equities, and the dollar fell. The VIX fear index spiked more than 30%.
https://www.msn.com/en-us/money/markets/plummeting-bank-stocks-lead-gl
obal-selloff-as-fear-of-private-credit-contagion-moves-across-equities-and-the-dollar/ar-AA1OFdmb?ocid=BingNewsSerp
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Quote:
Originally posted by 6IXSTRINGJACK:
Point to who you are laughing at Jack. Yourself, yeah I thought so.
T
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Trump plan to import Argentine beef angers US farmers
WASHINGTON/CHICAGO (Reuters) -U.S. farmers on Monday criticized President Donald Trump's suggestion that the country may import more beef from Argentina, after they recently lost out to the South American nation on soybean sales to top buyer China.
Trump said on Sunday that he was considering imports to reduce U.S. beef prices that have climbed to record highs. His administration earlier extended a $20 billion currency swap lifeline to Argentina, which the president considers an ally.
Cattle producers saw the suggestion as a threat to their livelihoods and free markets, at a time when ranchers are profiting from sky-high livestock prices and strong consumer demand.
"This plan only creates chaos at a critical time of the year for American cattle producers, while doing nothing to lower grocery store prices," said Colin Woodall, CEO of the National Cattlemen's Beef Association industry group.
https://www.msn.com/en-us/news/us/trump-plan-to-import-argentine-beef-
angers-us-farmers/ar-AA1OPRbI?ocid=msedgntp&cvid=68f79a4e5ac8487ca38e11b809bfade5&ei=77
They voted for him so they did this to themselves.
T
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Quote:
Originally posted by THG:
Trump plan to import Argentine beef angers US farmers
WASHINGTON/CHICAGO (Reuters) -U.S. farmers on Monday criticized President Donald Trump's suggestion that the country may import more beef from Argentina, after they recently lost out to the South American nation on soybean sales to top buyer China.
Trump said on Sunday that he was considering imports to reduce U.S. beef prices that have climbed to record highs. His administration earlier extended a $20 billion currency swap lifeline to Argentina, which the president considers an ally.
Cattle producers saw the suggestion as a threat to their livelihoods and free markets, at a time when ranchers are profiting from sky-high livestock prices and strong consumer demand.
"This plan only creates chaos at a critical time of the year for American cattle producers, while doing nothing to lower grocery store prices," said Colin Woodall, CEO of the National Cattlemen's Beef Association industry group.
https://www.msn.com/en-us/news/us/trump-plan-to-import-argentine-beef-
angers-us-farmers/ar-AA1OPRbI?ocid=msedgntp&cvid=68f79a4e5ac8487ca38e11b809bfade5&ei=77
They voted for him so they did this to themselves.
T
What exactly is your argument here, stupid ass?
You've been complaining about the price of beef for a month now.
Your current article said this:
Quote:
Cattle producers saw the suggestion as a threat to their livelihoods and free markets, at a time when ranchers are profiting from sky-high livestock prices and strong consumer demand.
You Democrats would be talking about putting caps on Beef Prices right now if you were in charge, and you'd be attacking those cattle ranchers for price gouging.
You don't get to take every side on every issue and change which side of the issue you're on day-by-day just so you can attack Trump.
Fucking idiot.
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For all that I've blessed, and all that I've wronged. In dreams until my death, I will wander on.
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