Latest news with #RickNewman
Yahoo
4 days ago
- Business
- Yahoo
Trump vs Harvard: Why the president is targeting colleges
President Trump has been escalating his attacks on Harvard. But that's not the only university that has faced pressure from the president. In the video above, Yahoo Finance Senior Columnist Rick Newman explains why Trump is waging war on colleges. To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here. White House, meanwhile, reportedly directing federal agencies to cancel all remaining contracts with Harvard University, that's as Trump continues his fight with that institution. For more, let's welcome in here Yahoo Finances Rick Newman. Rick. Hey, guys, uh, I mean, you got to wonder, what is going on here with Trump? And so I dug into this a little bit. Uh, if you go back to the 2024 election, uh, Trump won, uh, pretty strongly, he won working class voters, and by a mile he won white working class voters. So I think part of what's going on here with this, uh, what you might call a war on the university set is Trump is playing to his base. This probably works for him politically. But Trump said something that hasn't gotten much attention that I, it got my attention, which is, what if we transfer some of those $3 billion or however much it is federal grants to Harvard? What if we transfer those to trade schools instead? And I thought, you know, if this were not something that Trump was tweeting out and probably only thought about for 5 minutes, this might actually be a good idea. You don't have to punish Harvard in order to invest more in, uh, working class Americans. But guess what? We actually have a significant shortage of exactly those type of workers. That's carpenters, uh, welders, electricians. Um, there there is a shortage of hundreds of thousands of those types of workers, and those are exactly the workers Trump is trying to help with the trade war. When Trump says he wants to bring assembly lines back to America, that's what That's who he's trying to help. Why not get more people into trade schools? And by the way, you don't have to punish Harvard or anybody, just make this a serious policy idea. Now, I don't think Trump is going to do that, but I detected a kernel of a good idea in this rampage against the university set. You know what? It's interesting, uh, kernel of a good idea, but, you know, when I was a young lad, I thought maybe someday I could go to an Ivy or like a Harvard. It was aspirational for his base. It seems like the reputation of the Ivies has taken a significant hit. Um, it's a difficult question to answer, but do you see any sort of lasting impact on the on the mind space that they occupy in his bases being, this is where, you know, it would be a proud moment for the family if they got into a place like this? Well, I mean, one of the things that's not that relevant to our audience, but this is a huge culture war issue for Trump. I mean, I I think he's he's got it he nailed it pretty well that elite universities did turn out to be bastions of wokeness, however you define wokeness. I mean, if you believe wokeness exists in the US, uh, in the US society, then if it exists anywhere, it exists at these elite universities. And then we saw the controversies with all the, uh, anti-Israel, um, protests at some of these some of these universities. And then, you know, I think Trump, given his audience, I mean, his audience is these people who just want to go back to what they consider bedrock bedrock values of the 1950s when things were simpler. Um, people didn't have so many opinions on so many complicated things. I mean, this this is just an easy target for Trump, uh, and his base. Whether it's going to I mean, I think with so many Trump policies, there's this huge question of, how much is this actually going to change things in the end? Um, I think there are still, I'm sure there's still plenty of demand for an Ivy League education. If Trump manages to keep foreign students away, um, that that would certainly hit their bottom line hard, I think. I think something like 25% of Harvard students are foreign. Um, but as with so many things under Trump, that's being litigated and a lot of Trump stuff gets under gets overturned. So maybe this will lead to some, you know, necessary reforms at some of these schools, but everybody's going to come out okay. Thank you, Rick. Appreciate it. Bye, guys.
Yahoo
4 days ago
- Business
- Yahoo
Trump tariffs: How much spice is behind the TACO trade
No, it's not burrito bowls on investors' minds after a whirlwind week for President Trump's tariff policies. The TACO trade — which stands for "Trump always chickens out" — is taking Wall Street by storm, characterized by the administration's constant back-and-forth on its import taxes levied against trade partners and other countries. Yahoo Finance senior columnist Rick Newman comes on Market Domination to talk more about this viral take. To watch more expert insights and analysis on the latest market action, check out more Market Domination here. So the talk on Wall Street this week was all about the Taco trade, but Yahoo Finance senior columnist Rick Newman has his own take that the premise of the Taco trade isn't true. And Rick joins me now. How so, Rick? I'm sorry, guys. So if you said Trump sometimes chickens out, you'd be right. But you can but the Tisco trade it just I mean, it does not it doesn't work, right? I mean, look, I love the memes. I love the Trump in the chicken suit with the feathers, uh, the tacos on his gold jacket and stuff. But I mean, I'm He didn't look happy to be asked that question. He did not enjoy that question. He hated the question. He did not enjoy that question, which made it even more fun, to be honest. But look, I mean, I mean, I've been following every step of the way here. Um, Trump is, uh, at the end of the day, we're going to end up with tariffs on imports, taxes on imports that are going to be something like six times, eight eight times or 10 times higher than when Trump took office. So where we stand right now, worth reminding people, Trump took office with the average tariff on imports at 2.5%. It's now around 18%. That is with these emergency tariffs in place. We now know that there's some question legally about whether those will stand. The Supreme Court is going to decide that. But if the if the courts do end up shooting down all those emergency tariffs, Trump's got at least four other ways that he can impose these tariffs. He did some of them in 2018 and 2019. So we know they're likely to be more durable legally. And Trump is going to do it. I mean, people who know Trump, I mean, if you haven't been paying attention, Trump is a true believer in tariffs despite all the evidence that's going to make the economy worse off on it. He is going to do it. He's going to find a way to do it. So Trump sometimes chickens out, but he does not always chicken out. What do you make of the market response to all this? In essence, we're about to wrap up what was a solid month for stocks, right? And a big rebound off the April low. Even the bond market, we were talking earlier, it's taken a deep breath. It's calmed a bit. The benchmark benchmark tenure is back to 44. What do you make of that? Uh, Trump lowered the chair the type China tariffs from 145% to 30%. That's the answer, right? He he didn't. He he didn't. Because if he if he if he didn't completely chicken out, if he would if he did, he would have he would have taken it from 145% back to no additional tariffs. But so that's where we are. We went from started with no there were already tariffs on Chinese imports, but the new ones are 30% right now. Trump went from 145% to 30%. So that is that is that represents the whole strategy, which is he starts out super high and ends up somewhere that's not as bad, but still somewhat uncomfortable. Rick, thank you. I always appreciate it. Bye, guys. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
- Yahoo
Trump tariffs: How much spice is behind the TACO trade
No, it's not burrito bowls on investors' minds after a whirlwind week for President Trump's tariff policies. The TACO trade — which stands for "Trump always chickens out" — is taking Wall Street by storm, characterized by the administration's constant back-and-forth on its import taxes levied against trade partners and other countries. Yahoo Finance senior columnist Rick Newman comes on Market Domination to talk more about this viral take. To watch more expert insights and analysis on the latest market action, check out more Market Domination here.
Yahoo
27-05-2025
- Business
- Yahoo
Trump vs Harvard: Why the president is targeting colleges
President Trump has been escalating his attacks on Harvard. But that's not the only university that has faced pressure from the president. In the video above, Yahoo Finance Senior Columnist Rick Newman explains why Trump is waging war on colleges. To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23-05-2025
- Business
- Yahoo
Why stock & bond markets aren't celebrating Trump's tax bill
The US stock market (^DJI, ^GSPC, ^IXIC) and the US bond market (^FVX, ^TNX, ^TYX) are not reacting well to the possible passing of President Trump's tax bill. Yahoo Finance Senior Columnist Rick Newman joins Market Domination Overtime with Josh Lipton and Julie Hyman to explain the bond market's movements and what they mean for Trump's presidency. To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here. Well, it's likely President Donald Trump will get that big, beautiful tax bill. He is looking for, but markets haven't really celebrated as the president may have hoped for. Yahoo finances, Rick Newman, joins us now with this week's rendition of Trump Onamics. Rick? Hey, guys. Uh, so, yeah, Trump is on his way to getting this bill. I mean, I think the hardest step was getting, uh, the tax bill through the house where there were the most divisions and the most difficulty getting, uh, Republicans to pass it with that narrow majority they have. So there're gonna be some changes in the Senate, but, um, most of the betting is that there will be a signed bill, uh, by by let's call it late summer. Um, Trump should be celebrating this as a big win. Markets generally like lower taxes, but that's not what the narrative is in the market market this week at all. Obviously, as you guys have been discussing, uh, the big question is what's happening in the bond market. And in the bond market is just simply unhappy with what's happening in the Trump economy for reasons that you guys have been talking about. There's too much federal borrowing. This tax bill is just going to add to that. We've got new questions about whether treasury, uh, securities are going to remain a safe haven investment during times of trouble. That has not so much been the case lately. So this seems like something that could, um, be a pretty unwelcome cloud over Trump's first year in office. And at some point, the the the national debt, which is more than 36 trillion dollars right now, this is going to be unsustainable. And, you know, is the debt crisis here? Maybe this is it. Maybe the house is not going to come crashing down all at once. Maybe it starts with cracks in the foundation, leakage, uh, and then things start to get shakier. But we may be at at the debt crisis, and this is going to be more important for Trump to handle. And I'm not aware that he has any playbook for it at all. On that happy note, Rick, have a great weekend. You too, guys. See you. Sign in to access your portfolio
