S2 Ep1013: Mallory McMorrow and Tracy Alloway: A Self-Inflicted Crisis

The Bulwark Podcast

The Bulwark

Politics, News, News Commentary

4.6 • 8.9K Ratings

🗓️ 3 April 2025

⏱️ 67 minutes

🔗️ Recording | iTunes | RSS

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Summary

The market plunge is just pure Trump chaos, and perfectly matches his record as a businessman. From his numerous bankruptcies and many failures—including his airline, his casinos, his university, his water, and his steaks—he's been running one long con. And the supposedly smart people who should have known better put him back in power, somehow thinking he would never do something like destroy global trade. Meanwhile, in Michigan, where there have already been job losses directly caused by Trump's tariff war, State Senator Mallory McMorrow announced she's running for the U.S. Senate—saying she's had enough of the leadership and the bullshit in DC.

Bloomberg's Tracy Alloway and Mallory McMorrow join Tim Miller.
show notes

Transcript

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0:00.0	Hey guys, we've got a great double header for you today. Malory McMorro announced she was running for Senate yesterday, so I'm planning to have her on to discuss the campaign and more.
0:09.1	And then I wanted to bring in somebody who had real expertise on what's happening with the markets and the tariffs following yesterday's Liberation Day announcement.
0:20.4	And so we brought him Tracy Allaway,
0:22.2	who's a very insightful observer of what is happening in the markets. She writes a newsletter and does
0:28.5	a podcast with my guy Joe Wisenthal. So she, I think, is going to educate us. I'm going to have
0:33.3	more economy experts on in the coming weeks and months because that is what Donald Trump has thrust
0:38.2	upon us. And so look forward to that. And we'll probably have Tracy back when the time is right.
0:42.7	But before we get to it, since we got so wonky and nerdy in that first segment, I want to
0:48.2	emote with you guys for a second. It is fucking insane that we are here with regards to the stock market and the economy.
0:58.0	I mean, as I am taping this right now, the NASDAQ is down 5%, almost 6%, really.
1:05.3	The S&P 500 is down 4.5%.
1:07.6	This is all self-inflicted.
1:14.4	None of this had to happen. There is not, you know, a bubble that is burst. You know, there is not some, you know, issue in the credit markets.
1:21.0	There were not a bunch of credit default swaps, you know, being bundled. This is not the big
1:25.5	short. This is not a global recession. This is not a global recession.
1:27.9	This is not a pandemic.
1:29.1	It is just Trump chaos.
1:32.5	Any pain you have in your retirement account or your 401k right now is only due to Trump chaos.
1:38.2	If you're one of the people who are going to lose their job over this, it's only due to Trump chaos.
1:43.8	And here's the thing. Trump's whole
1:47.1	career has been failures like this. This was utterly predictable across every metric. We screamed
1:53.8	it from the rooftops here at the bulwark and elsewhere. He bankrupted a casino. How do you go
	...

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