Their largest flaw is they still believe Trump.

Economists around the world say much the same thing, but history and facts don’t matter.

Not only will Tariffs hurt our economy, they have lowered the US standing in the world. Trump’s arrogant behavior is an embarrassment and undermines trust.

He is not making a real estate deal in NYC.

You’re fired ‼️

Billionaire hedge fund manager Bill Ackman—who supported Trump’s 2024 presidential bid—took to X Sunday to post concern over the tariffs. He warned that going ahead with the new tariffs was tantamount to launching an “economic nuclear war” and called for a 90-day pause.

“The president is losing the confidence of business leaders around the globe,” Ackman wrote. “The consequences for our country and the millions of our citizens who have supported the president—in particular low-income consumers who are already under a huge amount of economic stress—are going to be severely negative. This is not what we voted for.”

Ackman, the CEO of Pershing Square Capital Management, concluded his post—which has more than 14.2 million views—by saying that unless Trump changes tack, “we are heading for a self-induced, economic nuclear winter, and we should start hunkering down.”

BlackRock’s Larry Fink

BlackRock CEO Larry Fink warned on Monday at an event for the Economic Club of New York that tariffs will weaken the US dollar and the economy is “weakening as we speak” while repeating his call to allow private markets to invest in retirement plans.

“Most CEOs I talk to would say we are probably in a recession right now,” Fink said Monday, adding that communication with clients has risen sharply of late.

“This is the type of time where we really try to connect,” Fink said. “We’re having more conversations with clients. Probably the last time we had this many conversations with clients at BlackRock was right when we closed out the economy in March of 2020.”

Fink added that in the long run he sees this as “more of a buying opportunity than a selling opportunity. That doesn’t mean we can’t fall another 20% from here too, but I do believe that in the long run the vitality of the United States will persist.”

JPMorgan Chase CEO Jamie Dimon warned that the Trump tariffs threatened to raise prices, drive the global economy into a downturn and weaken America’s standing in the world.

J.P. Morgan’s Jamie Dimon

“The recent tariffs will likely increase inflation and are causing many to consider a greater probability of a recession,” Dimon said in his annual letter to shareholders, released Monday. “Whether or not the menu of tariffs causes a recession remains in question, but it will slow down growth.”

Excerpt from 401k Specialist Magazine