'Beyond the valley of madness': Rick Wilson says Trump is filling Wall St. with dread

During Donald Trump's first presidency, former GOP strategist Rick Wilson attacked him relentlessly. But six months into Trump's second presidency, Wilson's attacks on Trump and even more scathing. And the Never Trump conservative, during an early August appearance on liberal journalist Molly Jong-Fast's "Fast Politics" vodcast, laid out some reasons why Wall Street and Washington, DC are filled with dread.

Wilson emphasized that Trump, by firing the director of the U.S. Bureau of Labor Statistics (BLS) and moving forward with steep tariffs on a variety of countries, is creating major anxiety in both the financial markets and the federal government.

Wilson told Jong-Fast, "It is madness, Molly. It is beyond the valley of madness. And nobody in Washington right now is waking up thinking, 'Man, this is going to get so much better.'" 7

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When Jong-Fast commented that the United States is "basically hurtling towards a cliff," she got no argument from Wilson.

The ex-GOP strategist told Jong-Fast, "He has gotten it wrong at every turn, and I think right now…. the markets are finally saying, 'Oh, s---. He's not playing anymore now. This has become a real crisis. He's not going to be able to walk and chew gum on this. And if he just replaces the person at the Bureau of Labor Statistics — or even if he got rid of (U.S. Federal Reserve Secretary) Jerome Powell — just doing these things, just talking about these things, has actually made the market less confident."

Wilson added, "It's actually made them more nervous about the future. And there are a lot of reasons to think that the market could take a very swift turn in the wrong direction for Donald Trump."

Jong-Fast interjected, "And the bad news is we're all going to lose a lot of money" — to which Wilson jokingly responded, "Happy retirement, folks."

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