Will Big Money Try To Truss Trump?
That’s the question—one of the questions—I raised yesterday in Uh-Oh, Canada! A Morning Ramble.
Money Matters. Meaning, that the people with money matter and so do their views—the more money the more they matter and the more their views matter. When they were upset they Trussed Liz. Are they currently trying to Truss the Donald? Is Mark Carney part of that op?
If Canada under Mark Carney is part of the Trussification strategy, the effort is off to a rocky start, although we may have only seen the beginning. I refer, of course, to Ontario’s short lived idea of adding 25% to energy exports to the US. That was quickly walked back when Trump slapped back with 50% tariffs. On the other hand, the markets have been in turmoil this week. Was that the opening shot in a new phase of the war on Trump? Is it all part of a plan aborning? Short and long answer: I don’t know, but it’s something to keep an eye on. However, I don’t see continued war as a good policy for American domestic politics, from a MAGA standpoint.
Anyway, Philip Pilkington has picked up on this theme and has some interesting observations to share. My non-economist observation. Trussification won’t be so easy in a non-parliamentary system like the US. An early sharp recession could actually work for Trump, and then the question could be, how much will Big Money be willing to bleed? Another question I don’t have the answer for.
Philip Pilkington @philippilk
The Trussification has begun. Good luck @JDVance and @realDonaldTrump. 
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WarnTracker 2.0 @j77324·
Mar 10
Downgrades “surged” last week. Almost twice as many downgrades as upgrades, 2 defaults, and 1 fallen angel.
This is the real goal of sanctions threats against Canada: create chaos in the currency market so that they do what America wants them to do.
unusual_whales @unusual_whales
BREAKING: Canada files to sell USD bonds, size undisclosed
Philip Pilkington @philippilk
This is an act of desperation. The sanctions talk is sending the Canadian dollar into a tailspin - that’s what the talk is really all about - and the Canadians are trying to fight it. They won’t win. 
Adding to global turmoil, not only has Trump attempted a switcheroo on peace with Russia, but he’s also trying the old sanctions game. Question: Who is the coming turmoil really directed at? Russia, or the Globalists?
Russia’s oil market is normalising. No doubt the EU - led by @kajakallas who was nominated to promote Estonian interests - will continue to deindustrialise under gas sanctions as the rest of the world points and laughs. Europoors getting poorer as the rest of the world moves on.
The groundwork for the Trussification of the Trump may be being laid before our eyes - semi-consciously, of course, not some grand conspiracy. It now has a market nomenclature which ensures regular discussion. Introducing: the Trump Put.
Lol the Canadians are riled up for a fight with the Trump administration because they’re spun up on American partisan propaganda and the Liberals are telling them that they’ll win a trade war to get their vote share up. Spoiler: Canada will lose a trade war. Hard.
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Michael A. Arouet @MichaelAArouet
The Art of the Deal
OK, if Vance warned of this, that means Trump 2.0 is aware of it.
“Media outlets that are critical of Trump are starting to catch onto the idea that they might be able to hang these market jitters on the Trump administration’s policies. In other words, that weak financial markets could be politicised to cause havoc for the new president.”
Despite PP’s dire title, the actual article is more ambiguous. I quote from the concluding paragraphs of a not that long piece, which was clearly written with the market turmoil of the last two days in mind. Is this part of a Truss Trump movement, weakness in fundamentals, … or an attempted piggyback? It’s all highly speculative at this point, but worth keeping an eye on:
The reality is that markets have never really recovered from the turmoil that hit them when the Chinese AI firm DeepSeek released its new R1 model back in late January. The model raised serious questions about the viability of much of the American AI sector, including the potential for global chip leader Nvidia to be able to sell its chips in large numbers. Since the turmoil around DeepSeek, the Nasdaq is down over 10 per cent.
What all this adds up to is a bunch of troubled markets – from stocks to bonds – facing down a world filled with uncertainty. Media outlets that are critical of Trump, however, are starting to catch onto the idea that they might be able to hang these market jitters entirely on the Trump administration’s unorthodox policies. In other words, that weak financial markets could be politicised to cause havoc for the new president.
Back in September 2024, before the election, now-vice-president JD Vance gave an interview to Tucker Carlson stating he feared that, if Trump got elected, the president would face the same fate as former British prime minister Liz Truss. Vance stated that he believed the economic establishment in Britain made a lot of mistakes, “maybe intentional”, when Truss’s mini-Budget led to a spike in interest rates. He raised the prospect that something similar might happen to the Trump administration.
It will be worth watching in the coming weeks and months the narrative that is formed about market jitters. If the current whispers that Trump is entirely to blame turns into a torrent, we might see the financial markets turn against the new administration. At that point, Trump might find himself in a bind.
3 democrat Senators have announced they are NOT seeking re-election in 2026:
Sen. Gary Peters (D-MI)
Sen. Tina Smith (D-MN)
Sen. Jeanne Shaheen (D-NH)
It just keeps getting worse for democrats — these are all swing states.
https://www.cbsnews.com/chicago/news/rosemont-illinois-electric-vehicle-charger-installations-ban/