Friday Insights: April 25, 2025

Delusional Donald

President Trump might feel he had a good week this week because he dominated the news despite Pope Francis's passing. But due to his narcissism, the President might not appreciate that almost all of the news was bad. Is all publicity good publicity?

I won’t repeat the “Trump News” of this week. If you are reading this, you likely read a lot about Trump, probably more than you’d like. But mention a few stories that gained traction this week:

Trump announced the erection of two 100-foot flag poles on either side of the White House. A generous and patriotic man, Trump is paying for them himself.

Trump backed down on what appeared to be plans to fire Federal Reserve Chairman Jerome Powell after the stock market crashed (again).

News of a second Signalgate involving over-his-head Secretary Hegseth. Trump says Hegseth is doing a “great job,” but leakers suggest otherwise.

Secretary of State cancelled participation in a London meeting on the Ukraine War after President Zelenskyy forcefully rejected acknowledging Putin’s 2014 annexation of Crimea. Trump’s peace proposal capitulates to most (all?) of Putin’s demands.

Trump announces a promotion for his meme coins, promising a private dinner with him for the largest investors in the coins. He has put a “Leaderboard” on the web so people inclined to buy the coins can monitor where they stand. The “winners” will also get a private tour of the White House. The promotion is perhaps the most blatant example of a president using the presidency to enrich himself in history.

Little progress is being made on trade negotiations. Trump has already carved out exceptions and is suggesting that he will unilaterally reduce the tariffs on China in the hopes of getting them to the negotiation table. Most other tariffs (apart from the base 10%) are not in effect. Equity markets are assuming that Trump will eventually back down.

Okay, one more: Numerous stories, most reshuffling old news, that Melania doesn’t much like spending time with her husband.

Looking at this news, I see a loser, and I’m not alone. Trump’s approval ratings are in decline, especially on his handling of the economy and inflation.

And a lot of people are getting tired of Trump threatening colleges and ignoring court orders on deportation.

So, what is going on?

Why is a president who craves approval engaging in so much self-destructive behavior? He is much more “checked out” mentally than anyone appreciates. His focus has turned from leading the country to creating an environment that makes him feel like the great man he thinks he is.

I suspect that Trump has signed off many of his signature policies without giving them much thought. It is a great time to be Stephen Miller or Peter Navarro. Trump has given them free reign.

Trump is focusing more on redecorating the Oval Office with gold, a redesign that the mainstream press is starting to ridicule. The overabundance of gold makes Trump feel like a king living in a palace. If Trump adds much more gold to the White House, he might not feel compelled to travel every weekend to Mar-a-Lago next winter, especially if his golf game declines—something quite possible for a 79-year-old (Trump’s age this winter).

I remember news coverage of Saddam Hussein’s palaces after the fall of Iraq. Hussein was eventually hanged for war crimes, but he lived like a king for many years. Trump seems to be competing with him and other oligarchs.

Sadly, the power of the presidency supplies Trump with a steady stream of sycophants who tell him how beautiful everything is. “Mr. President, the Rose Garden looks much better paved,” I imagine a billionaire MAGA supporter telling Trump right after Trump tells him he plans to back down on another part of his tariff plan (providing the billionaire with a nice opportunity to buy low and sell high).

Trump, for now, is feeling like a king. Courts are telling him to stop, but he is reacting much as Putin will to Trump’s order to STOP bombing Ukraine. He feels above the law, partly because he escaped accountability for previous crimes.

That is my analysis of Trump at the 100-day mark of this second term in the White House. My insight of the week is that this cannot go on. Something’s got to give.

Thank you.

Have a good weekend. Thank you for reading Dean’s Insights.