Key Takeaways:
- The Dow Jones plunged 650 points after Trump announced tariffs on Mexico and Canada.
- Ex-Trump advisor Larry Kudlow blamed the economic slump on Biden.
- Critics on social media called out Kudlow for ignoring Trump’s role in the market drop.
The stock market took a nosedive this week after former President Donald Trump announced tariffs on Mexico and Canada. Investors rushed to sell their stocks, worried about the economic fallout. The Dow Jones dropped a whopping 650 points, signaling panic in the financial world. But according to Larry Kudlow, a former Trump advisor, the blame for the struggling economy lies squarely on President Joe Biden.
Kudlow Points Finger at Biden
During an appearance on Fox Business, Kudlow claimed, “What’s left of the Biden economy is slumping right now.” He suggested that Biden’s policies are responsible for the market downturn. White House Press Secretary Karoline Leavitt countered, saying the administration is working hard to lower living costs for Americans. However, critics weren’t convinced by Kudlow’s argument.
Social Media Reacts: “Are They Serious?”
Reactions on social media were quick and blunt. Many pointed out the irony of Kudlow blaming Biden while ignoring Trump’s tariffs. “Hahaha,” tweeted former CNN analyst John Harwood. Others questioned Fox Business’s credibility, with one user asking, “This is a news network?”
Political strategist Fred Wellman summed up the frustration: “Yeah… they drop tariffs for no reason whatsoever, and the market collapses, but it’s the guy who left a month and a half ago. What a jacka—.”
The Tennessee Holler, a progressive social media account, mocked Kudlow and Fox for trying to shift blame. “WATCH: As the stock market drops because of Trump’s tariffs and trade war, Larry Kudlow & Fox hilariously try to blame ‘the Biden Economy.’”
Why the Backlash?
Critics argue that Kudlow’s comments ignore the root cause of the market panic: Trump’s tariffs. Just last month, Kudlow himself warned of stagflation signs in the economy. Now, he’s changed his tune, pinning the blame on Biden. This sudden shift has many calling out Kudlow for being inconsistent and biased.
The Bigger Picture
The market drop and the tariffs are part of a larger debate about economic policies. Trump’s tariffs have long been controversial, with critics arguing they can hurt trade relationships and slow economic growth. Meanwhile, the Biden administration is focused on reducing inflation and lowering costs for everyday Americans.
As the economy continues to show signs of struggle, one thing is clear: the blame game is in full swing. Whether it’s tariffs, policies, or who’s in office, both sides are trying to shape the narrative. For now, investors and everyday Americans are left to wonder what’s next.
Stay tuned for more updates as this story continues to unfold.