Donald Trump Celebrates Dow 50,000

Here are a few related stories that I missed last week:

1. Trump has ruled out the GOP Congress doing a second reconciliation package in 2026. The plan is to sit around and do nothing but boast about the Golden Age until getting wiped out in the midterms. Stick a fork in Trump’s legislative agenda. We don’t even have to wait another year.

2. As his poll numbers plummet below even Joe Biden, Trump is focused on redesigning the White House and building “the finest Ballroom anywhere in the world.”

3. Manufacturing employment has declined for 32 straight months.

4. American optimism has sunk to a record low.

5. Trump continues to conflate the economy with the stock market and is doing a victory lap over Dow 50,000. He has set his sights on Dow 100,000. Meanwhile, hiring is terrible and tomorrow’s job report is expected to be a disaster.

In sum, Trump’s second term has turned out to be Gilded Age 2.0, but there is no positive way to spin this. The president seems to be insulated from reality, focused on catering to donors and asset holders and increasingly out of touch with the younger coalition that elected him.

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