Jason Calacanis is openly critical of President Donald Trump‘s impact on the economy. In a series of tweets, the well-known tech investor criticized Trump for creating what he described as “complete market chaos” just 92 days into his new term.
“I’m basing it on just facts actually…”
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Calacanis, a well-known investor and entrepreneur who is known for speaking plainly, responded directly to Trump's April 21 Truth Social post. In it, Trump claimed inflation was nearly gone and called for immediate interest rate cuts, blaming Federal Reserve Chair Jerome Powell for being too slow.
“There is virtually No Inflation,” Trump wrote. “But there can be a SLOWING of the economy unless Mr. Too Late, a major loser, lowers interest rates, NOW.”
Calacanis was not impressed. He posted on X, “President Trump was elected to improve the economy; objectively, the only thing he's accomplished in 92 days is complete market chaos.”
When others challenged him for being subjective, Calacanis stood his ground, submitting charts and saying, “I’m basing it on just facts actually… bonds, dollar, markets, layoffs and survey data.”
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Tariffs, Trade Wars, and Tension
Two days later, Trump told reporters that his 145% tariffs on Chinese goods would “come down substantially, but it won't be zero.” Treasury Secretary Scott Bessent called the tariffs unsustainable and said a de-escalation was likely.
Trump's tariffs and his threats toward the Federal Reserve have spooked investors. Markets briefly rebounded on Bessent's comments, but overall volatility remains.
In response to someone posting “Just say it, he’s destroying the economy,” Calacanis said, “He's rattled it. It would be VERY hard to destroy the US economy… you could mute it 10-35%, but not kill it.”
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Mixed Signals from the White House
Despite high tariffs, Trump has tried to strike a friendly tone with China. “We're going to live together very happily and ideally work together,” he said.
Meanwhile, China continues to push back, warning other nations against striking trade deals with the U.S. that could harm Chinese interests. Beijing has also pressured companies in South Korea to stop exporting any products with Chinese minerals to U.S. defense contractors.
Calacanis summed it up plainly in his original post: “These Trump Truth Tantrums certainly play with the MAGA base, but they destabilize markets.”
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