Received this from Occupy Democrats: [View all]

Well-stated and succinct. I particularly like the term “blackout drunk” and the description of the volume of loss of Apple Stock value.



BREAKING: Renowned business expert Scott Galloway hammers Donald Trump as "stupid" and says that he's "blackout drunk" at the "wheel of the global economy" as his tariffs destabilize the entire world.

He also alleged that Trump's sudden tariff reversal enriched his MAGA cronies in the "greatest day of insider trading and grift in history."

This is one rant that every American needs to hear...

During an appearance on The View, Galloway — who is a successful entrepreneur and a professor at the New York University Stern School of Business — was asked by co-host Whoopi Goldberg about Trump's recent behavior.

She slammed him for having "wreaked havoc on the global economy since his so-called liberation day last week with massive tariffs" and pointed out that he backtracked and lowered his tariffs on most countries to 10% while imposing an effective tariff rate of 145% on China.

"It would be hard to think of a more elegant way to reduce prosperity this fast," said Galloway.

"Let's talk about Apple," he continued. "The notion was we're going to bring back all of those great jobs? The average Apple assembly person in China makes $500 a month. The average Apple employee focusing on more high-value things like design, store management, makes $200,000 a year here."

"We want to wear Nikes. We don't want to make them," he went on. "We have outsourced low-wage jobs overseas such that we can create more profits, more investments, and create higher wage jobs."

"If these tariffs hold, your iPhone's going to go from $1000 bucks to $2,300," he explained. "To make an iPhone in the U.S. it would cost $3,500. As a result, the threats of these tariffs take Apple's stock down the value of Walmart in three days."

"If these tariffs hold... 80% of toys under the Christmas tree are from China," Galloway continued. "So 90% of U.S. households are budget-constrained. So we're talking about half the number of toys."

"We're talking about a destruction in shareholder value such that your parents can't retire as quickly and we're talking about the entire world rerouting their supply chain around 'brand America,' which, quite frankly, right now is toxic uncertainty — so they can bypass a series of unpredictable, epileptic, sclerotic decisions," he stated.

"What we finally need to acknowledge: We have someone at the wheel of the global economy that is blackout drunk right now," he continued.

Later in the segment, Galloway dismissed the idea that Trump's policy is setting the stage for the "economy of the future" by bringing jobs back.

"First off, America is the second largest manufacturer in the world," he said. "And the Cato Institute — we romanticize manufacturing — the Cato Institute did a survey, 80% of us believe that we should have more manufacturing but only 20% of us want to work in manufacturing."

"There is no line to get in and have work at an assembly plant in Lansing, Michigan," he continued. "What we want is high-paying jobs. Quite frankly, if this president cared about young men and trying to up-level people we'd go to a minimum wage of $25 a hour."

"And by the way, if minimum wage had kept pace with productivity and inflation it'd be somewhere between $23 and $27 an hour," he explained. "This is nothing but in my view—"

"Do you realize that yesterday about ten minutes before he put a pause on the tariffs and Apple skyrocketed, the market went up 2000 points, there was huge activity in the options market," he went on.

"Yesterday will go down as the greatest day of insider trading and grift in history," said Galloway. "Someone knew what was going on and made a lot of money and it wasn't us and we're going to find out about this."

"If you want to go back — he talks about the great era of the late 19th century — guess what? When we didn't have indoor plumbing? Where we had child labor? I'll take Netflix and novocaine," he said.

"We have a habit because of social media to talk about how terrible America is," he went on. "There are [one hundred and ninety-five] nations, they would all trade places with us."

"Do we have income inequality, we have polarization, do we have struggling young people? A hundred percent," he said. "But guess what? This nation is less bad than any other nation except if you want to take us back to the past. That makes absolutely no sense whatsoever."

Galloway was then asked about America's image around the world under Trump.

"We have the greatest inflow of capital which drives our stock up which lets us borrow money at a lower cost," he explained. "We have the greatest inflow of human capital. What do the best and the brightest in the world have in common? They want to come to our universities, they want to live in America."

"And part of that is that the American brand is risk aggressiveness, it's rule of law, it's consistency," said Galloway. "Rule of law has gone out the window. Right? We've now decided to defy court orders. We're having used car sales on the White House lawn."

"We are rounding people up with the wrong tattoo and shipping them off without due process to essentially hellscape prisons," he continued. "Rule of law is gone. Consistency? The tariffs are on, they're off, the tariffs are on, the tariffs are off."

"We're alienating nations that love us and we love. When did we decide to go to war against Canada!?" he asked. "Canada!? You know what Canada did?"

"There's this great line that the Holocaust survivor talking to Warren Buffet said, how do you judge friends? V'ery simply, I ask a question would they hide me?'" he said.

"Canadians hid us in the [Iran] hostage crisis," he went on. "The Canadian embassy hid six Americans and if they'd been found out they would have been hung by cranes. We're going to war against Canada!? They are our true friends. We can't even articulate why we're angry with them. We are going to war with everyone at the same time."

"The big winner here, if there is a winner, is China over the medium and long-term, who says 'You may not like us, but you can count us,'" said Galloway.

"The damage here... When he paused the tariffs yesterday, he took the knife halfway out of the economy's back, but the injury will take years, if not decades, to heal," he predicted. "The definition of stupid is doing something that hurts yourself while hurting others. This could not be more stupid."

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