FITSNews Political Stock Index: 3/10/2025

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It was another roller-coast ride for U.S. president Donald Trump last week. There was his record-length talk to a joint session of Congress; back-and-forth announcements on trade tariffs (that gave financial markets an intense case of financial acid reflux); a testy Cabinet meeting where DOGE chief Elon Musk and Sec. of State Marco Rubio mixed it up over government cuts; and Trump’s pulling the plug on $400 million worth of grants and funding for Columbia University’s over last year’s antisemitic protests.

How is all of that impacting Trump’s standing in the polls? It’s still relatively smooth sailing for now, according to “the Oracle.” South Carolina’s own Robert Cahaly of the Trafalgar Group reported last week that Trump has a 49.5% approval rating, with 45.3% disapproving and 5.2% undecided. 

Those numbers won’t stay elevated for long, though, if actual stocks keep tanking…

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Every Monday, we track the rising and falling fortunes of national politicos via the ‘FITSNews Political Stock Index.’ And every Tuesday, we publish the ‘Palmetto Political Stock Index’ – which looks at politicos from our home state of South Carolina, host of the quadrennial “First in the Nation” (for Democrats) and “First in the South” (for Republicans) presidential primaries.

Got a hot “stock tip” for either of these indices? Email Will Folks (here) and/or Mark Powell (here).

Where should you invest your national political capital this week? To the index…

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THE ECONOMY

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STOCK: FALLING

Warning lights are flashing with increasing frequency for the U.S. economy. Let’s start with jobs. February’s unemployment rate, the first full month of the Trump presidency, was 4.1%, with 151,000 new positions added, well below expectations.

The economic policy uncertainty index has spiked 41% since January, meaning experts are increasingly unsure how things will play out. (And if there’s one thing the financial world hates above all others, it’s uncertainty.)

Then there’s the stock markets’ drop of nearly 8% over the last two months. (The maybe/maybe not nature of Trump’s uncertain tariff wars with Canada, Mexico, and China account for a big chunk of that drop.) And throw in Fed chief Jerome Powell’s breadcrumbs hinting that the central bank isn’t in a hurry to lower interest rates until inflation cools down for good.

Add it all up, and it spells (as Elvis once sang) T-R-O-U-B-L-E.

Speaking of inflation, consumers remain hard-pressed by painfully high grocery, energy, and housing prices, with no relief in any of those sectors in sight on the immediate horizon.

On top of everything else, there were Trump’s repeated promises last summer and fall that he would turn around the economy on Day One. We’re now at Day 49, and it’s still status quo on the financial front. 

That, in turn, has the potential to spell serious danger for the GOP heading into next year’s mid-term elections. With its control of Congress dangling by the slenderest of threads, Republicans cannot afford to lose a single seat in either chamber.   

As we have often pointed out, the distance between the pocketbook and the ballot box is remarkable short. Trump and congressional Republicans need to realize the clock is ticking with American voters. 

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CONGRESSIONAL DEMOCRATS

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STOCK: FALLING

While economic jitters should be something they could use to their advantage, Capitol Hill Democrats are still smarting from their self-inflicted black eye. Everything they did during Trump’s address to a joint session of Congress last Tuesday night seemed calculated to hurt themselves. 

Party leaders had urged a cool, deliberate response to Trump. Liberals and progressives threw that suggestion completely out the window in favor of political self-immolation.

It started with their clothes, with some Democrats opting to use fashion as a form of visual protest. But since nobody agreed on which color to rally around, three were utilized: pink for women’s issues, black for black issues, and blue and yellow for solidarity with Ukraine, resulting in a rainbow of messaging anarchy. (It was also widely noted that many of those who wore pink had just voted against protecting women’s sports.)

Democrats boycotted the traditional ritual of members of both parties escorting the president into the House chamber.

Next up there were the protest paddles. Intended to convey dissent without disrespect, they came off looking like a bidding war at a pricey art auction – not to mention an invitation for witty counter-memes.

Some progressive radicals had no problem being overtly disrespectful, with the night’s takeaway image being Rep. Al Green (D-Texas) being escorted out of the chamber by the sergeant-in-arms for shouting at Trump. Green was swiftly censured by the colleagues — including 10 Democrats — for his bad behavior.

A close runner-up for the night’s most visual moment was House Speaker emerita Nancy Pelosi, whose face was contorted in a case study of contempt. 

Finally, there were the dozens of Democrats who simply got up and walked out as Trump was speaking, with a few even pointedly turning their back toward him.

“A sad cavalcade of self-owns and unhinged petulance,” Sen. John Fetterman (D-Pa.) posted on social media afterward.

Tuesday night’s televised spectacle revealed more than a lack of decorum to the millions of Americans watching at home. It exposed a truth few of the party’s movers and shakers are willing to publicly acknowledge. At the moment, the Democratic Party has no leader, no clear message, and no sense of direction. Four months after last November’s election, all they have to offer is, “We’re still against Trump.”

Comedian Stephen Colbert expressed the frustration many everyday Democrats feel over being stuck between first and second gear by holding up a paddle saying, “Just do something.”

Longtime Democratic strategist James Carville shot back, “I don’t know how to tell late-night hosts this, but we can’t pass gas. We don’t have the votes.”

And so Democrats soldier on, still preaching their “Trump is bad” sermon while arguing over what color clothes to wear at the next protest. 

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GAVIN NEWSOM

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STOCK: RISING

One high-profile Democrat on the other side of the country is taking a decidedly different approach. The Golden State’s governor is the first prominent member of his party to break with über-woke ideology regarding transgender athletes competing in women’s sports. Gavin Newsom’s move is all the more remarkable because he has been at the forefront of LBGT issues for decades.

“It is an issue of fairness,” he said. “It’s deeply unfair.”

The only thing more incredible than Newsom’s flip-flop was who he told it to: Charlie Kirk, the ultra-conservative influencer and Turning Point USA founder. They appeared together on the California governor’s “This is Gavin Newsom” podcast.

As they did a post-mortem on last November’s Democratic defeat, Kirk asked about the fairness of biological males competing in women’s sporting events.

After conceding it was unfair, Newsom pointed to the Trump campaign ad that said Kamala Harris “is for they/them. President Trump is for you.”

“It was devastating,” Newsom admitted. “And she didn’t even react to it, which was even more devastating.”

If anyone questions Newsom’s intention to run for president in 2028, they can stop guessing.  

He’s all in…

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COVID ACCOUNTABILITY

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STOCK: FALLING

The world’s most populist Communist nation took it on the chin in a Missouri courtroom last week. The state sued the People’s Republic of China to recover money lost as a result of the pandemic that originated there. Senior U.S. District Judge Stephen Limbaugh ruled in favor of the Show-Me State. The reason?

China was a no-show.

The communist nation and its co-defendants, including the Wuhan Institute of Virology, “failed to appear or otherwise answer after being properly served, and (are) therefore in default,” Limbaugh wrote. China must now cough up $24,488,825,457 with post-judgment interest “at a rate of 3.91 percent, compounded annually.” 

Missouri sued the Chinese government in 2020 for $25 billion “for causing and exacerbating the COVID-19 pandemic.” China refused to participate, sending a proxy from the Chinese Society of Private International Law instead.

The question now: Will Jefferson City ever get a dime from Beijing?

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