Well, welcome to the bare market caused by a crash of Donald Trump's own making as the worldwide

markets in China wake up and start retaliating against the U.S. economy and against Donald Trump,

and by extension, the American consumer and the middle class. I'm Michael Popak. I'm putting on my

Wall Street hat for today.

Let's look what's happened just 24 hours after Liberation Day. A name, I'm sure,

will go down on the annals of history of one of the worst euphemisms ever used by a president.

Here's what's happened. China woke up and said, oh, we'll see your 54% phony reciprocal

tariff based on a formula that a third grader could have come up with. And we will match you with a 34%

tariff across the board, across all goods. And while we're at it, we're going to put about 30

different U.S. companies on a no supply list, so they can't get any of our materials that they

need for their production. By the way, many U.S. manufacturers use Chinese component parts or

products in their own goods. So let's put a couple of dozen U.S. countries on

there. Let's slow down the supply of rare earth minerals and things that only come from China.

And in the impact on that, the oil market is in the tank. All of the futures markets have slid

another 5%. We're now down 10%. And listen to this

one, folks, J.P. Morgan Chase, you know, that's Jamie Diamond's bank. Just a week ago, I did a hot

take where I said that their new prediction for recession before Liberation Day, a U.S. recession happening in 2025 was at 40%.

It's now up to 60%.

That's just off of Liberation Day because most of Wall Street and the big banks who backed

Donald Trump all thought he was bluffing.

They all thought, no, he's the ultimate wheeler,

dealer, trader, let's make a deal. Art of the deal. He'll just try to bring all these people back

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