“It Would Be Easy To Keep Pumping Up The Economy, Borrowing A Lot Of Money, Creating A Lot Of Government Jobs”

By Eric Peters, CIO of One River Asset Management

“It would have been easy to keep pumping up the economy, borrowing a lot of money, creating a lot of government jobs,” explained Treasury Secretary Bessent to Tucker Carlson, defending the administration’s policies, while describing the extent to which Biden juiced up the US economy, like a body builder on steroids, appearing strong while destroying his internal organs. (explained here “Here Is The $1 Trillion “Stealth Stimulus” Behind Bidenomics“)

“There was no controversy when we were doing all that, but you would have ended up in a calamity,” he said. “If you go back and look at the financial crisis in 2007-08, the economy looked great right up until then. You go back to the end of the dotcom bubble, and the whole credit problem, fraud at Enron and some other companies, the economy looked great until it didn’t.”

.@SecScottBessent: “The old system wasn’t working and if you look at a system that’s not working you have to be brave to change it … It would’ve been easy to keep pumping up the economy, borrowing a lot of money, creating gov’t jobs … but you were going to end up in a… pic.twitter.com/NI5dZXF5Dt

— Trump War Room (@TrumpWarRoom) April 4, 2025

“My advice to every country right now is do not retaliate. Sit back, take it in, let’s see how it goes. Because if you retaliate, there will be escalation,” warned Bessent, Treasury Secretary, the Liberation Day shockwave circling the globe. 

Xi Jinping listened carefully. And seeing America declaring economic war on all its allies and adversaries, along with some uninhabited islands, he mapped out his next move. Weighed the pros and cons, calculated the risk/reward, considered his nation’s ability to endure extreme and prolonged hardship relative to ours, and then blatantly ignored Bessent’s advice, matching Trump’s tariffs and limiting America’s access to critical rare earth metals. 

“This would be a PERFECT time for Fed Chairman Jerome Powell to cut Interest Rates. He is always “late,” but he could now change his image, and quickly. Energy prices are down, Interest Rates are down, Inflation is down, even Eggs are down 69%, and Jobs are UP, all within two months – A BIG WIN for America. CUT INTEREST RATES, JEROME, AND STOP PLAYING POLITICS!,” posted President Trump on Truth Social, his DJT social media stock price hitting new lows, his meme coin too. 

“While tariffs are highly likely to generate at least a temporary rise in inflation, it is also possible that the effects could be more persistent,” said Powell. “Our obligation is to keep longer-term inflation expectations well anchored and to make certain that a one-time increase in the price level does not become an ongoing inflation problem,” continued the Fed Chairman. “We are well positioned to wait for greater clarity before considering any adjustments to our policy stance. It is too soon to say what will be the appropriate path for monetary policy,” he added, directly ignoring America’s President. 

“TO THE MANY INVESTORS COMING INTO THE UNITED STATES AND INVESTING MASSIVE AMOUNTS OF MONEY, MY POLICIES WILL NEVER CHANGE. THIS IS A GREAT TIME TO GET RICH, RICHER THAN EVER BEFORE!!!,” posted Trump, America’s friends and foes all wondering how much damage will be done, how much pain inflicted, wealth destroyed, before his policies will of course change.

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