Robert J. Berger<p>"But Wall Street professionals, like so many other ostensibly smart people, refused to see Trump clearly, mistaking his skill as a demagogue for wisdom as a policymaker. “I don’t think this was foreseeable,” a mournful Ackman posted on X on Monday. “I assumed economic rationality would be paramount.” What an odd assumption to make about a man who bankrupted casinos.</p><p>Berezin thinks Wall Street still hasn’t come to terms with the cost of the nascent Trump presidency. “I do think that at this point we might have passed the event horizon, meaning that even if Trump backs off from the tariffs, there’s been enough damage done to the U.S. economy, to the global economy, to investor confidence, consumer confidence, that we’re probably going to see a recession regardless of what happens,” he said.""</p><p><a href="https://hachyderm.io/tags/GiftArticle" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>GiftArticle</span></a> <a href="https://hachyderm.io/tags/USPolitics" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>USPolitics</span></a></p><p><a href="https://www.nytimes.com/2025/04/07/opinion/trump-stock-market-wall-street.html?unlocked_article_code=1.-E4.q7Gk.5YS3EpoLnh8C&smid=url-share" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="ellipsis">nytimes.com/2025/04/07/opinion</span><span class="invisible">/trump-stock-market-wall-street.html?unlocked_article_code=1.-E4.q7Gk.5YS3EpoLnh8C&smid=url-share</span></a></p>