3/31/2025
By Charles Payne CEO & Principal Analyst

Liberation Day is Wednesday, April 2, 2025, but the war (not trade) began weeks ago. The war to which I refer to is the fearmongering over implementing higher tariffs.

In many ways, it reminds me of the rise of propaganda during World War II, which at the time was a new tool made possible with the advent of mass media.

I know the news has to report the news, but there are entities out there that understand how to manipulate the process, and in this case, they have been hugely successful.

In the process, those pulling the levers have created a feedback loop that now runs on autopilot.

Lying it on Thick

More news articles have highlighted economic uncertainty than those covering 9/11, the Global Financial Crisis and the Sovereign Wealth Crises. Only the early stages of COVID-19 got more frightening press.

This situation is nowhere near the level of risk of those periods.

The message makes the rounds:

Consumer Sentiment

The final read on Consumer Sentiment from the University of Michigan for March 2025 was like a fire truck racing to a four-alarm fire.

Unsolicited mentions of unfavorable news about government economic policies surged to an unimaginable level.

Compounding Fear & Political Bias

The negative stories took a toll on consumer sentiment, which collapsed more than the consensus estimate —a not-unexpected outcome, in my opinion.

The significant damage was in future expectations.

To read the full report, contact your account representative or email Info@wstreet.com.

Charles Payne
Wall Street Strategies

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