March 13, 2025 (EIRNS)—Even before the Jan. 20 inauguration of Donald Trump as President, qualified spokesmen for British imperial policy such as London’s The Economist magazine and Financial Times had openly advocated using “market pressures” to keep control over his presidency. They argued that the only “voice” that Trump was certain to listen to, is that of “the market,” given his foolish fascination with financial assets as if they reflected real economic value. They proposed that Treasury Secretary Scott Bessent be the chosen channel for communicating “the market’s messages.”
In recent days, there has been a lot of back and forth over the response of “the markets” to Trump’s economic policies, especially the tariff circus. Of note are the comments by JPMorgan chief global economist Bruce Kasman, who told reporters in Singapore on March 12 that there is about a 40% chance of a U.S. recession in 2025. “He cautioned that if Trump’s proposed reciprocal tariffs on key trading partners take effect in April, the risk could rise further and hurt the country’s appeal as a place for investment.”
