Quartz

Some fund managers worry Trump 'might be insane,' analyst says

Kevin Williams
Wed, April 9, 2025 at 1:40 PM EDT2 min read

The worldwide ripple effects from President Donald Trump's tariffs have been so widespread that one analyst says some in the business world fear the issue may go beyond Trump simply taking a political stand.

Thomas Lee, a managing partner and the head of research at Fundstrat Global Advisors, sent a memo Wednesday that painted a picture of the fallout from the president's trade war. Lee wrote that he has had "many conversations" with macro fund managers who are expressing concern that those in the White House aren't acting rationally - and who worry the tariffs go beyond politics and policy.

"Some even fear that this may not even be ideology," Lee wrote. "A few have quietly wondered if the President might be insane."

Lee's report came before Trump issued an unexpected 90-day pause on tariffs Wednesday afternoon that sent markets rallying after a days of losses and volatility.

In his report, Lee said the tariffs could still go one of two ways. The first possibility is that everyone tires of a grinding trade war, sues for peace, and reaches new bilateral agreements. But Lee said that, while he still thinks this is the likely outcome, with each passing day the tariffs remain in place, the odds decrease.

The second way the trade war could go, Lee said, is that tariffs stay in place for an extended period, which results in the government effectively "freezing" the economy. Then, companies would be so pummeled by the tariffs that the "shock" to the economy would ripple, leading to a cascade of slowing economic activity and the very real risk of a recession.

Ultimately, though, Lee said there is one variable - and only one - that will determine these tariffs' endgame:

"This path is determined by a single person, President Donald Trump."

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Dora Hates You

There's no ideology with this guy, that's been obvious for a long time.

It's a cult of personality, and when he finally goes down I think it's going to be a hell of a thing to see. From a safe distance.

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"Are you a Communist?"
"No I am an anti-fascist."
"For a long time?"
"Since I have understood fascism."

-Protagonist Robert Jordan, "For Whom the Bell Tolls" (Hemmingway)

"A few have quietly wondered if the President might be insane."



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I was right.

You can say that again!

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We have certain things in common Jeffrey..

Quartz, huh? I can strike that one from the acceptable reading list. I refuse to read publications that have the agenda of making progs more stupid. That is just cruel.

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I :heart; Q

It must be hard to read with your head in your ass anyway.

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It was fun while it lasted.

Egoic unconsciousness and id-driven decisions

"might be insane.....?"
ummmm....what?
You mean spoiled, bankrupted grifting con man changing political affiliation from one party to another like a orange Easter bunny on Adderall...(flippity floppity, donnie's on his way):
isn't normal?
he's a dem, he's a libertarian, he's an independent, he's pro-qommie....he's Napoleon.
Loves Hilary, hates her....law and order, fuck the judges....
yep. perfectly normal

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It's a democratic hoax

Come Tpap, what you refuse to read can and does fill a library.

This is going to be interesting for that ambitious, groveling twit JD Dunce. He wants the MAGAts and he wants to be president. The current idiot preventing him from this goal is behaving erratically and has no coherent agenda, plan, ideology or exit strategy. Normally this would be a huge problem but this is MAGA and they believe whatever Trump tells them even if he told something different the day before. But JD revealed quite a bit on that signal chat that he didn't have the good sense to keep confidential. JD tried to slow walk Trump's directive to bomb the houthis. Trump is likely used to being undermined by his cabinet as they ignore his baser instincts as he pursues his unenlightened self interest, but he punishes those who do it when he figures it out. There is a power struggle here.

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"One of the reasons why propaganda tries to get you to hate government is because it's the one existing institution in which people can participate to some extent and constrain tyrannical unaccountable power." Noam Chomsky.

The fund managers should check out Tklown



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We have certain things in common Jeffrey..