Will Cain calls Donald Trump's tariffs “a potential restructuring of the American spirit”
Cain: “I don’t know about that last line about all of us being a cobbler or working at a factory, but we are at a deficit”
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From the April 3, 2025, edition of Fox News' The Will Cain Show
WILL CAIN: President Trump just made the biggest bet of his political career, but the short-term fallout is already being felt. The market today down, S&P 500, the NASDAQ, the Dow down. Tech stocks absolutely hammered down 10% on the NASDAQ. It does deserve some context. What do we mean by down? Take a look at this twelve month chart of the Dow Jones industrial average. We have returned to the average of roughly October. Down from the December highs of the election of Donald Trump and down from the January highs of the first term -- the first month of his second term at the presidency. We've essentially returned to the place that we were a few months before Donald Trump. This is a crisis according to Wall Street, The Economist today in fact suggests it's a day of ruination. Today, betting markets are suggesting we have about a 50% odd of a recession. But this is a big bet. It is a revolutionary bet. A historic bet, and a long term bet that has been a long time in the making.
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For decades, Donald Trump's been making this argument of restructuring the American economy so that we're not suckers and losers on the bad side of every international trade. But it's also a restructuring of not just our economy, but I would argue, and that we should see it as a potential restructuring of the American spirit, the purpose of America.
LindyMan on X -- Paul Skallas in real life, friend here of the Will Cain show -- put this out earlier today. He said, "I'm sick of seeing the depressing Walmart towns with obese Americans in flyover country. I'm sick of the dollar stores. Everything has to change. No more cheap goods, no more Chinese or Vietnamese trinkets. No more obesity. Every man must work in a factory or be a cobbler." I don't know about that last line about all of us being a cobbler or working at a factory, but we are at a deficit. We are in a depression of purpose. Americans need a reason to get up and work has been our primary purpose, and work has been destroyed for middle class Americans.