You Won’t Believe Peter Schiff’s Take on Trump’s Rate Cuts! Spoiler: No Magic Wand Here! 🤡💸

by

Peter Schiff, the economist who sounds like your grumpy uncle at Thanksgiving, just gave Trump’s rate cut dreams the ol’ one-two punch.

Schiff: “Lowering Rates? That’s Like Trying to Build a Factory with Jell-O!”

So here’s the scene: former President Trump (yes, *the* Trump) thought slashing interest rates would magically turn America into a manufacturing powerhouse—poof! But Peter Schiff, never one to sugarcoat, says, “No, no, no, you gotta hike those rates if you want factories, not fanciful fireworks.”

Schiff’s hot take came right after Trump tweeted (surprise!) that Jerome Powell, the Fed chair, better grab a rate cut racket or else the economy might just throw a tantrum and implode. Spoiler: Powell’s not buying it. He’s eyeballing inflation like a hawk and sticking to his “data first, drama later” policy, which really bums out Trump’s Twitter squad.

Meanwhile, Powell’s out here warning that Trump’s tariff shenanigans could send inflation partying too hard and growth packing its bags. But hey, Powell refuses to play rate-cut ball because politics ≠ economic cheerleading. Trump thinks Powell’s playing dirty, but we all know it’s just a soap opera with fewer commercial breaks.

And just to spice up the plot, Senator Elizabeth Warren showed up waving red flags, warning that firing Powell could crash markets so hard, even Wall Street’s ancient idols would cry. Ah, democracy!

Back on his favorite stage, X (formerly the tweet factory), Schiff said cutting rates early to ease pain is like giving a migraine patient a jackhammer. “Everyone who thinks cheaper rates will fix the economy is reading the map backwards,” he said. When a fan suggested near-zero rates would help manufacturing, Schiff snapped back like a dad tired of nonsense: “Nope. It’ll stop it dead.”

Dow Jones: Channeling the Great Depression Vibes, but Where’s the Violin Music? 🎻📉

In a separate rant, Schiff painted a gloomy picture where money’s sneaking out of U.S. stocks faster than your last bad date, heading overseas where stocks are apparently having Easter brunch and hitting new highs. Meanwhile, the Dow Jones looks like it just stepped on a Lego—a painful drop heading for its worst April since 1932. Yep, the Great Depression called; it wants its eeriness back.

But wait! Schiff refuses to pin this economic dumpster fire solely on Trump’s tariff circus. Nope, this was a slow-burning train wreck, decades in the making. Trump just handed us the popcorn and made it popcorn time sooner than expected. “I’ve been watching this disaster brew like a bad sitcom, just didn’t know it’d take this long to get to the cliffhanger,” he lamented.

Read More

2025-04-22 23:00