August 01, 2025 10:27 AM UTC

Trumponomics Is Back And Your Portfolio Better Pay Attention

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• by: Colorado Pols

CNBC reports while you nervously check that 401(k):

Stocks were under pressure on Friday to kick off August trading as investors weighed stark signs of a weakening economy and President Donald Trump’s modified tariff rates.

The Dow Jones Industrial Average dropped 607 points, or 1.3%. The S&P 500 shed 1.5%, while the Nasdaq Composite dipped 2%.

The July jobs report showed nonfarm payrolls expanded by 73,000 last month, well beneath the consensus estimate from economists polled by Dow Jones that called for a 100,000 increase to payrolls. Prior months were significantly revised down. June job growth totaled just 14,000, down from 147,000. The May count came down to 19,000 from 125,000, signaling the labor market has been weakening for a while now.

Yes, President Donald Trump promised “90 deals in 90 days” when he postponed the tariffs after they nearly tanked the global economy last spring. When that didn’t happen, Trump turned to letters that would have been better written with crayons to vent his grievances country by country while threatening to follow through on his tariffs when his self-imposed “grace period” ran out.

And now, the plunge resumes. News this week that the economy technically expanded in the second quarter, thus putting off the official declaration of a recession, was riddled with warnings that the growth was driven by defensive moves against Trump’s policies and wouldn’t last. Although Trump is rapidly losing favor with the American public over his handling of the economy, which was previously his greatest asset, the economic pain we’ve been dreading for months when the day finally came that Trump didn’t “chicken out” is nothing for Democrats to celebrate. Just like the effects of Trump’s Orwellian-branded “Big Beautiful Bill,” Americans are going to suffer now before they have the chance to change course.

Nobody voted for this, even if they say they did. And soon, few will even try to fake it.