The president shared an X video, a copy of a TikTok post, to his Truth Social account Friday morning calling his economic plans “genius” without much substance. The video starts out by saying Trump is crashing the economy on purpose, and that billionaire investor Warren Buffett is praising the president for making “the best economic moves he’s seen in 50 years.”
— AmericanPapaBear (@AmericaPapaBear) April 4, 2025
This isn’t true at all, though. Last month, Buffett openly called Trump’s tariffs “a tax on goods” in an interview last month.
The video goes on to make several other unsourced claims, including that the Federal Reserve will be forced to slash interest rates in May, resulting in making trillions of dollars in debt able to be refinanced inexpensively. The video also claims that the dollar will be weakened and that mortgage rates will drop, and repeats Trump’s claims that tariffs will compel businesses to build in the U.S. and force farmers to sell more crops stateside as well. There is no indication that any of this will happen. Indeed, Trump is practically begging—or maybe threatening—Federal Reserve Chair Jerome Powell to slash rates.
The video shows that Trump is deluded that his tariffs are going to succeed, and is pushing any source that backs him up. The TikTok account that the video comes from lacks credibility, as it doesn’t even have a bio and seems to only post summary videos of news events without any indication of who is making them. Meanwhile, the stock market continues to plummet and Americans continue to worry about their jobs.
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