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🗓️ 10 April 2025
⏱️ 36 minutes
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0:00.0 | Hello there. Happy Thursday. Welcome to another episode of the Chuck Toddcast. Today, a solo round of things. |
0:10.8 | Obviously, a big development in the last 24 hours with President Trump's decision to rescind or pause the tariff regime, which had been in place for a couple of hours, |
0:23.5 | leading to another market meltdown. And particularly, we think the thing that truly rattled |
0:30.4 | the president was what was happening in the bond market. But I'm not here to play CNBC guy for |
0:35.4 | you. There are plenty of smart financial guys. If you want to go down that road, you can go down that road. I'm here here to play a CNBC guy for you. There are plenty of smart financial guys. |
0:38.2 | If you want to go down that road, you can go down that road. |
0:40.4 | I'm here to talk about the politics of this moment, what to learn from this moment, and what it could mean, and how to watch sort of reaction going forward. |
0:49.1 | So what to take away from this? |
0:51.3 | Well, bottom line is Donald Trump blank. |
0:53.6 | The blink. |
0:55.8 | The question is, why did he blink? |
1:03.1 | Going into this, there was always a belief, almost like a security blanket belief among the business community, |
1:10.8 | who towards the end of 2024, accelerated in their support generally of Donald Trump over Kamala Harris. |
1:16.4 | You know, and it was the basic reasoning being regulation, regulation, regulation. |
1:22.6 | Donald Trump was campaigning on doing all these tariffs and all of these sort of business leaders were kind of compartmentalizing, believing, oh, he's not as serious. |
1:32.8 | The tariffs he did the first time weren't that damaging. If that's all he's going to do, we can handle it. |
1:45.1 | Didn't necessarily believe that he was willing to go where he was going to go. I think the biggest reason why there's been so many miscalculations about Donald Trump 2.0 versus Donald Trump 1.0 is simply the missing people that were very involved in putting together |
1:52.3 | Trump's first administration. Mike Pence and Reince Previs. Reins Previs was the first chief of |
1:56.9 | staff. He was chairman of the RNC when Donald Trump got elected president, and then he got |
2:01.3 | named chief of staff, and Mike Pence was the vice president, and Mike Pence was in charge of the |
2:08.2 | transition. Well, we now know, in hindsight, particularly after watching the first 80 days of Trump |
2:14.9 | 2.0, that what Mike Pence and Wright's previous did in stacking that administration in Trump 2.0, that what Mike Pence and Reince Previs did in stacking that administration |
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