The Morning Sixpack - March 11, 2025
USAID is virtually dead. The stock market is headed that way. And let's not even think about looming stagflation...
Listen to the pod:
Trump's Tariff Tantrum Sends Stocks Tumbling—Wall Street Braces for More Chaos
Wall Street got hit with a fresh dose of tariff turmoil Tuesday as the Dow plummeted 440 points, or 1.1%, following President Trump’s decision to double tariffs on Canadian steel and aluminum.
The S&P 500 also took a dive, down 0.6%, while the Nasdaq barely clung to positive territory. In a Truth Social post—because where else?—Trump announced the new 50% tariffs, effective immediately, triggering fears of an all-out trade war. Investors weren’t impressed, with Citigroup downgrading U.S. stocks and warning of a “pause in U.S. exceptionalism.” Meanwhile, the Nasdaq slipped deeper into correction territory, now more than 10% off its 2024 highs.
“There’s clearly a tolerance for pain on the part of the administration in pursuit of trade goals that are not necessarily entirely economic in nature,” said Ross Mayfield, an investment strategist at Baird.
Translation: Trump’s playing economic chicken, and the markets are flinching
Delta Air Lines added to the doom and gloom, slashing its earnings outlook due to softer U.S. demand, tanking its stock by 8%.
Meanwhile, the retail sector took a beating as the SPDR S&P Retail ETF (XRT) hit a fresh 52-week low, with Kohl’s plunging to its lowest level since 1997.
Yes, you read that right—1997, back when Titanic was the biggest thing sinking.
Trump brushed off recession concerns, calling this economic nosedive a “period of transition” during a Fox News interview.
Treasury Secretary Scott Bessent, in true spin-doctor fashion, suggested a “detox period” for the economy.
Investors are now anxiously awaiting inflation data, praying the Fed has enough wiggle room to cut rates before things spiral further.
One thing’s for sure—volatility isn’t going anywhere.
Source: CNBC
Elon Musk and Trump’s “Efficiency” Plan: Slashing Social Security, Medicaid, and Reality
Elon Musk, self-proclaimed efficiency guru and head of Trump’s Department of Government Efficiency (DOGE) (not a real government department) has floated a jaw-dropping proposal: hacking up to $700 billion out of Social Security, Medicaid, and other essential safety net programs.
In a Monday interview on FOX Business Network, Musk declared, “Reports don’t mean anything, you’ve got to actually take action,” signaling his intent to gut benefits for millions while somehow making government “more efficient.”
Translation: if you’re elderly, disabled, or struggling, you’re the inefficiency he wants to fix.
Since taking office, Trump and Musk’s DOGE team have already axed thousands of government jobs, closed 10 Social Security offices, and set their sights on eliminating workers who help seniors navigate the system.
Meanwhile, the duo has been spreading wild conspiracy theories—Trump even claimed Social Security checks are going out to people who are 300 years old—as if the biggest crisis facing America is undead retirees cashing in.
Musk, never one to be outdone in baseless claims, has also called Social Security “the biggest Ponzi scheme of all time.”
Experts, of course, disagree—because, well, reality. And you know what the biggest Ponzi scheme of all time is? Me either, but it’s probably a tossup between shitcoins and Tesla.
As Musk’s cost-cutting crusade gathers steam, it’s sparking backlash. Tesla’s stock is in freefall, activists are protesting outside showrooms, and some particularly creative critics are vandalizing Cybertrucks with graffiti and dog feces.
Yet Musk remains unfazed, blaming undocumented immigrants for the supposed “$700 billion” in entitlement fraud
As Republicans line up $880 billion in Medicaid cuts to fund another round of tax breaks for the ultra-wealthy, it’s clear who this administration’s efficiency drive is really meant to benefit.
Spoiler: It’s not you.
Source: My Daily Grind News
Elon Musk’s DOGE Wants All Your Data—And Nobody Knows Why
Elon Musk’s Department of Government Efficiency (DOGE) isn’t just slashing budgets—it’s going after something far more valuable: your personal data.
According to a new report, Musk’s team has gained access to heavily safeguarded government databases containing everything from Social Security numbers to therapy session notes, medical records, and tax filings.
Privacy advocates and federal workers are sounding the alarm, warning that DOGE’s "efficiency" looks suspiciously like an excuse to compile deeply personal dossiers on Americans. As former Consumer Financial Protection Bureau technologist Erie Meyer put it, “We don’t know what they’re doing.”
Under an executive order signed by Trump, agency heads are required to grant DOGE full and prompt access to unclassified records, software, and IT systems. But even government insiders are confused—and terrified—about what this actually means. Lawsuits are piling up, while unions and watchdog groups scramble to block DOGE’s prying eyes.
Musk insists DOGE employees have undergone the same background checks as federal workers (The Joe Rogan Experience was somehow his chosen venue for this reassurance), but that hasn’t stopped at least a dozen lawsuits challenging DOGE’s unchecked surveillance. Some federal officials claim DOGE only has “read-only” access—but that hasn’t reassured critics who point out that simply viewing sensitive data is already a massive privacy breach. This is utter bullshit; next fuck up is they’ll delete rows of databases en masse and not know how to restore them…
The real fear? That DOGE is assembling profiles on Americans that could be used for anything—from political targeting to financial exploitation.
Jonathan Kamens, a former cybersecurity lead at VA.gov, warned of a chilling possibility: “That this data that the government has on them, which in some cases can be used to damage them, will be used to damage them.”
And with Trump and Musk already peddling baseless claims about 300-year-old Social Security recipients, it’s hard to dismiss concerns that this “efficiency” effort could quickly morph into something far more sinister.
Source: NPR
Think about this: Musk has built a very large LLM/AI chatbot. If he has all your personal data, think about what he could do with it.
Elon Musk’s Government “Efficiency” Is Gutting Global Health—And The Diseases Are Coming
At Trump’s first Cabinet meeting last month, Elon Musk made a startling confession—his Department of Government Efficiency (DOGE) had “accidentally canceled very briefly” Ebola-prevention programs. What a fucking tool!
Then came the nervous chuckle. But this wasn’t a paperwork glitch or a clerical error. This administration has systematically dismantled the U.S. government’s ability to detect and fight deadly outbreaks, setting the stage for a public health disaster.
Musk’s cost-cutting spree hasn’t just targeted bloated contracts or redundant programs—it’s slashed everything from the National Institutes of Health (NIH) to the National Weather Service.
But perhaps the most reckless move has been hacking away at global health infrastructure. What did Musk think would happen when he fed the U.S. Agency for International Development “into the wood chipper”, as he gleefully posted on X?
What did Trump expect when he withdrew the U.S. from the World Health Organization and effectively muzzled the CDC?
In the span of just a month, America has gone from a global leader in disease prevention to a country flying blind, hoping the next pandemic won’t arrive on its doorstep.
Undermining even one of these institutions would have been reckless. Gutting them all at once? That’s an engraved invitation to the next deadly outbreak. The world isn’t waiting for America to get its act together—pathogens are already spreading. But thanks to Musk and Trump, the U.S. may not see them coming until it’s too late.
Source: The Atlantic
Hamas Offers Long-Term Truce With Israel—But Will Netanyahu Take It?
In a surprising development, Hamas has proposed a five-to-ten-year ceasefire with Israel, according to a senior U.S. official.
Trump’s hostage affairs envoy, Adam Boehler, revealed in an interview that Hamas is willing to lay down its arms and step away from governing Gaza for the duration of the truce. The U.S. would reportedly oversee the dismantling of Hamas tunnels and militant activity. While neither Hamas nor Israel has officially commented, this marks the first time Hamas has suggested a concrete timetable for a ceasefire. Negotiations are set to take place in Qatar this week, with Trump’s Mideast envoy Steve Witkoff in attendance.
This move comes amid heightened political tension in Israel. Prime Minister Benjamin Netanyahu faces infighting within his right-wing coalition over ultra-Orthodox military enlistment and a looming budget deadline. His government could collapse if the budget isn’t passed by March 31, meaning a Hamas deal—likely unpopular among his base—could be politically risky.
Meanwhile, Israel has intensified pressure on Gaza, cutting electricity to a vital desalination plant, drastically reducing access to drinking water for hundreds of thousands. Aid groups warn that Israel’s blockade of food, fuel, and supplies is pushing Gaza toward humanitarian catastrophe.
The U.S. and Egypt are also involved in ceasefire efforts, with Egypt proposing a two-month truce that prioritizes the release of American hostages.
As Netanyahu weighs his next move, Boehler remains optimistic: “I believe there is enough there to make a deal between what Hamas wants and what they’ve accepted, and what Israel wants and has accepted.”
Whether this deal materializes or collapses under political pressure remains to be seen.
Source: NPR
Trump’s USAID Purge Complete—Rubio Boasts of Slashing 83% of Foreign Aid Programs
The Trump administration’s scorched-earth approach to foreign aid is now complete, with Secretary of State Marco Rubio announcing that 83% of USAID’s programs have been eliminated.
In a post on X, Rubio declared that the six-week purge of the agency was over, with the remaining 18% of programs now moving under the State Department’s control. Calling the effort “overdue and historic,” Rubio thanked Elon Musk’s Department of Government Efficiency (DOGE) for assisting in dismantling one of the longest-running pillars of U.S. diplomacy. Democratic lawmakers and aid groups, however, argue the move is illegal, as defunding congressionally approved programs requires actual congressional approval—something Trump’s team conveniently ignored.
This mass elimination of aid programs has left thousands of USAID staffers and contractors stranded overseas, many awaiting unpaid wages and U.S.-funded travel home.
The casualties of this purge? Programs focused on epidemic control, famine prevention, and economic stabilization, all abruptly terminated, leaving tens of thousands of workers—both American and international—jobless.
Trump’s executive order freezing foreign aid in January was framed as a crackdown on waste, but critics argue it has destabilized regions that relied on U.S. aid to prevent conflict and economic collapse.
Rubio’s post offered zero details on which programs survived or how they’ll function under the State Department, adding to the confusion.
Lawsuits are already piling up. Aid organizations, businesses, and contractors claim they were illegally stiffed out of billions of dollars when contracts were terminated with boilerplate form letters. Some programs that Rubio himself had promised to preserve were also cut, showing just how haphazard the shutdown was. Meanwhile, Musk and DOGE operatives reportedly pulled USAID employees from their jobs by force, canceling payments and leaving a diplomatic void that America’s global rivals will likely be all too eager to fill.
Source: AP News
Imagine Republicans’ outrage in non-Trump times about the federal fucking government (headed by a Democrat, of course) breaching entire swaths of contracts en masse. They would never STFU about it. But here we are.