March 5, 2025
As was the case on Monday, Dow Futures are ahead, but just like on Monday, the stocks will again tumble. There is no stability, and with the tariffs in effect, the markets do not have a chance to level out. All they will do is fail. It is now March 5th, after Trump’s speech to a joint session of Congress last night, proclaiming that he is doing what the voters wanted him to do, because he claims he had a mandate during the election. One major problem with his speech was that it was full of lies.
Regarding the futures, the Dow Jones is up right at this moment by .46% or 195 points. S&P futures and Nasdaq futures each added about .7%. This is what is happening now. But the speech by Trump to a joint-session of Congress was disturbing.
During his speech, it was obvious that he was ad libbing during parts of his speech. He obviously was trying to highlight his ambitious vision for America, which is what he wants everyone to believe. The address was marked by interruptions with several Democrats, including Jasmine Crocket and Maxine Waters, walking out. Trump’s claims about the economy Social Security and tariffs were fact-checked revealing significant discrepancies. Then Alyssa Slotkin’s Democratic response emphasized the importance of the middle class, national security, and democracy, uring citizens to stay ingaged and hold elected officials accountable. The discussion also touched on the need for a focused response to Trump’s claims. Slotkin’s speech was one of the better Democratic responses.
Trump did not share or have prepared remarks shared with the media. He was obviously ad libbing when he was making economic decisions, when he said that the American people would have to bear with him, that there would be little disturbance, and that there will be an adjustment period. He was suggesting that the roiling that we saw in the markets is something that he knows he cause, but he knows people will not mind. But what is actually going to happen starting today, prices will be higher on just about everything. His tariffs that he didn’t highlight in his speech, will cause misery to the American people. He ran on lowering prices, not raising them.
For the record, the worst inflation in this country was in 1980, and the economy left for Trump after Biden was considered worldwide as the best economy in the world. But instead, he implied that his economy of his first term was better than Biden’s single term in office. The best economy of the world was described that way in the ‘Economist magazine’ as the envy of the world
Trump then attacks Social Security. I’ve said this prior to his speech last night that Trump and Musk will eventually attack Social Security and when it is interrupted, it can fail. Trump is claiming massive fraud within Social Security and that there was overpayment in the millions, which for the record is completely false.
Trump claimed that the big three auto industries in this country love his policies, where in fact the CEO of Ford Motors, Jim Farley, said that Trump’s tariff policies would “blow a hole in the U.S. auto industry. Who would you believe, proven liar Donald Trump or the CEO of Ford Motors?
Regarding to support to Ukaraine, the U.S. has only committed about $125 billion to Ukraine’s defense, Europe has committed about $259 billion, the the president lied when he said that America has committed more more to Ukraine’s defense. Near the end of his speech he mentioned that last night before his speech to Congreee, Trump claimed that the president of Ukraine plans to do what it takes to end the war, including to give precious metals to the U.S. as partial repayment. He said that the president of Ukraine is now open to peace talks, and do whatever is necessary to prevent further bloodshed. After the White House meeting that ended in failure between the President of Ukraine and Trump, I hardly believe that Ukraine is ready to submit to the United States.
Trump claims that Joe Biden closed over 100 power plants, which is another outright lie. There were more utility sized power plants up and running in the United States when Joe Biden left office than when he achieved office.
Oil and gas production in the United States hit an all time record under President Joe Biden. Also, DOGE has never claimed that they have saved hundreds of billiions of dollars in savings. The largest items they have claimed to achieve as savings in the US budget have been debunked and they’ve been taken down. But even they don’t falsely claim hundreds of billions of dollars worth of savings. But Trump makes that claim, which is a total lie.
And then on top of all that he said, I can recall him making a spectacle out of praising a young man who thus far survived pediatric cancer, as if he as president had something to do with that. The fact is that DOGE cut amongst other things, funding for ongoing research into pediatrics.
Another thing that was immediately noticeable was when he mentioned that Elon Must is the head of DOGE. As noone would think this was really important since Musk seems to act more of a president at times than does Trump himself, but now the matter will end up in court, because Trump claimed to the court that Elon Must has no control of DOGE. So, it’s just another lie that Trump was caught in, as his statement in front of Congress was directly contrary to what the administration has overtly swarn to a federal judge about the leadership of DOGE. I’m hoping that the courts really put Putin in his place and criminalizes the organization.
