It has become increasingly obvious that whatever President Donald A. Trump desires to do, as he is (so we thought) empowered as President of the United States, will be met with hard resistance by deep state forces working to undermine the constitutional government.
Late Wednesday, a three-judge panel of the U.S. Court of International Trade ruled that the president overstepped his authority by imposing reciprocal tariffs on a variety of nations with which the United States trades. Not only have these judges rules the tariffs void, but they ordered that all monies collected under their auspices be returned, an order that very well might bankrupt the government since it is already operating without headroom on the debt ceiling.
Initial reaction to the ruling, in addition to the usual glee over Nvidia earnings, was unsurprisingly positive for the Wall Street brat pack, sending stock futures flying higher overnight. Since then, the BEA issued their second estimate of first quarter GDP, showing it a little better than the advance estimate last month, at -0.2, as opposed to -0.3 initially projected.
What matters here is not that the market sees a less-severe tariff regime as positive, but that the president has been rendered powerless for all intents and purposes. So far, the government, via activist judges have thwarted every action taken by President Trump, denying the citizens of the mandates they voted for in November of last year.
I actually predicted this sort of behavior from the radical left deep state controllers back in January, 2024, when I published, in idleguy.com January 2024, my opinion piece, Joe Biden, Fall Guy, asserting, at the time, that Biden would lose to Trump or be dead or incapacitated, pitting the utterly useless and uninformed Kamala Harris against Trump, who would win handily, because the deep state knew full well that they could impose their will upon any and all executive operations, much as they did in the first go-round, when Trump won in 2016.
Since Trump, via dictates from various federal courts, cannot deport people, fire people, stop sending arms to Ukraine and Israel, reduce the size of government in any meaningful manner, or perform any of the duties without being sued, harangued by the press, and vilified by Democrats and members of his own party, there's certain to be reactions on Wall Street, in Washington, and among the citizenry, that cannot, at this time, be qualitatively or quantitatively measured or understood.
What we have is a country run by backgrounders who do as they please, the will of the people - as guaranteed in the constitution - be damned. Thus, any predictions or outlooks regarding the economy, the stock market or practically any other important metric, would be pure folly.
Prepare for chaos because that's what the deep state desires most.
Best of luck. You'll need it.
At the Close, Wednesday, May 28, 2025:
Dow: 42,098.70 -244.90 (-0.58%)
NASDAQ: 19,100.94, -98.26 (-0.51%)
S&P 500: 5,888.55, -32.99 (-0.56%)
NYSE Composite: 19,678.94, -150.96 (-0.76%)
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