Bulwark Takes: JD Vance’s Tariff Trolling Tweets Make Absolutely No Sense

Release Date: April 8, 2025
Hosts: Tim Miller, Bill Kristol
Podcast: Bulwark Takes by The Bulwark

Introduction

In this episode of Bulwark Takes, hosts Tim Miller and Bill Kristol delve into the perplexing social media activities of J.D. Vance, the Vice President of the United States under the Trump administration. The discussion centers around Vance's recent tweets regarding tariffs, his stance on the stock market, and the broader economic implications of his comments. The hosts offer a critical analysis of Vance's policies and rhetoric, highlighting inconsistencies and potential economic repercussions.

JD Vance’s Return to Social Media and Initial Reactions

Tim Miller opens the conversation by addressing JD Vance's sudden re-emergence on social media:

[00:00] Tim Miller: "Hey guys, it's Tim Miller from the Bulwark. Bad news. The Vice Poster in Chief, J.D. Vance, is back on social media."

Bill Kristol expresses surprise at Vance's return after a period of silence:

[00:11] Bill Kristol: "I thought, who knows, maybe he had gotten a spanking from Daddy Trump or maybe he, you know, didn't want to defend the tariffs. I wasn't sure why he wasn't posting."

The hosts speculate on the reasons behind Vance's hiatus and subsequent return, suggesting it may be strategic rather than based on any specific incident.

Analysis of Vance’s Tweets on the Stock Market and Tariffs

The core of the discussion revolves around Vance's tweets, which critique the current administration's handling of tariffs and express concerns about inflated equities.

Tim Miller summarizes Vance's approach:

[00:22] "Because he's back and at it this morning. And let me tell you, what JD has put out there should put a chill down your spine if you're worried about your 401k right now because the Vice President United States is using his typical condescending, obnoxious manner to lecture you."

Bill Kristol challenges Vance's assertion that equity markets are inflated:

[01:20] Bill Kristol: "Inflated equities? What. What are you talking. What was inflate? Did you guys campaign on this? I mean, Bill Kristol pointed this out in reply to him. I don't remember Trump and Vance campaigning on saying that equities were inflated, that the market was inflated, that we needed to."

Kristol recalls a different narrative from the administration, where prosperity was promised under Trump, contrasting sharply with Vance's current stance.

Critique of Dependence on Chinese Supply Chains

Vance's comments on reducing dependence on Chinese supply chains are another focal point. The hosts argue that previous administrations had similar goals without the negative repercussions Vance implies.

Tim Miller refers to Vance's tweet:

[03:27] "The tweet, this dependence on Chinese supply."

Bill Kristol counters by highlighting bipartisan efforts to decouple from China:

[03:29] Bill Kristol: "Chains, literally the Biden administration was working on this. That was the whole point of the CHIPS Act. That was the point of the Infrastructure Act. We are reshoring important parts of the manufacturing system, particularly when it comes to microchips."

He emphasizes that reducing dependence on China has been a long-term strategic goal, not a novel or destabilizing policy introduced by Vance.

Discussion on Inflated Equities and Cryptocurrency

The hosts shift focus to the concept of inflated equities, particularly criticizing Vance's support for Trump's cryptocurrency ventures.

Bill Kristol sarcastically questions the notion of inflated equities, referencing Trump's "fake cryptocurrency":

[02:16] Bill Kristol: "I can tell you about one inflated equity that I'd be interested in hearing about. The Trump shit coin. You know, your boss is running a fake cryptocurrency."

Tim Miller echoes this sentiment, dismissing the value of such ventures:

[02:29] Tim Miller: "Meanwhile, we had another headline this morning... the Department of Justice was shutting down its crypto investigations unit."

This critique extends to the broader economic landscape, suggesting that most inflated equities are tied to questionable ventures like those supported by Trump and Vance.

Exposure of Economic Vulnerabilities and Market Reactions

The conversation highlights underlying economic issues, referencing broader market instabilities and structural problems.

Bill Kristol alludes to the golden age promises that have not materialized:

[01:39] Bill Kristol: "I thought we were told about there was a golden age coming. I thought we were told that Kamala Harris was going to engineer a depression and that if Donald Trump came in, everybody was going to be rich. That's what they sold."

Tim Miller connects these broken promises to the current economic distress:

[02:37] "The guys running these companies don't think. Their equities are inflated."

They discuss how these broken promises have led to decreased trust in the administration's economic policies, affecting investments like 401(k) plans and college funds.

Insider Concerns from Trump Donors

The hosts reference anonymous Trump donors expressing doubts about the administration's economic direction, hinting at internal fears about potential economic downturns.

Bill Kristol shares insights from a private Trump donor:

[04:22] Bill Kristol: "There was a Anonymous Trump donor, big donor, told Rolling Stone this. I'm not willing to go public yet. But I will say this. I don't know if I would be this worried about what will happen to the economy if Bernie fucking Sanders were president. That's how bad this is."

This revelation underscores significant unease among key financial backers regarding the sustainability of the current economic policies.

Trump’s Remarks and Market Sentiment

A brief clip of Donald Trump is played, where he discusses the concept of a "Trump put"—a term used to describe a safety net for the stock market.

[05:44] Donald Trump: "Is there a Trump put, though? Is there a mark? Is there pain in the market? At some point? You're unwilling to tolerate this idea of a Trump put..."

Bill Kristol responds with derision:

[06:03] "Take our medicine."

The hosts interpret Trump's remarks as further evidence of the administration's failing grip on market confidence, leading to increased volatility and uncertainty.

Conclusion: Economic Turmoil and Leadership Failures

Tim Miller wraps up the discussion by emphasizing the broader economic distress and the administration's inability to manage it effectively:

[06:12] "But the way that they have created structural pain, that's going to be hard to untangle, cannot be overstated. And these little Twitter temper changes from JD Vance to me just reveal that they know how big of deep doo doo they're in when it comes to the economy and the value of our equities."

The episode concludes with an affirmation that the Bulwark team will continue to monitor JD Vance's public statements and provide critical analysis to their audience.

Key Takeaways

• JD Vance's Tweets: Vance's recent social media activity criticizes the administration's economic policies, particularly tariffs and the state of the stock market.

• Inflated Equities: Hosts argue that Vance's claims of inflated equities are unfounded, pointing out the administration's own questionable financial ventures.

• Dependence on China: Efforts to reduce dependence on Chinese supply chains have been a bipartisan strategy, contrary to Vance's portrayal.

• Insider Concerns: Anonymous Trump donors express deep worries about the administration's economic direction, suggesting internal instability.

• Market Confidence: Trump's remarks about a "Trump put" highlight and exacerbate existing market insecurities, indicating a lack of confidence in the administration's ability to stabilize the economy.

Notable Quotes

• Bill Kristol:

  "[01:39] 'I thought we were told about there was a golden age coming. I thought we were told that Kamala Harris was going to engineer a depression and that if Donald Trump came in, everybody was going to be rich.'"

• Tim Miller:

  "[06:12] 'The way that they have created structural pain, that's going to be hard to untangle, cannot be overstated.'"

• Donald Trump (Clip):

  "[05:44] 'Is there a Trump put, though? Is there a mark? Is there pain in the market?'"

This episode of Bulwark Takes offers a critical examination of JD Vance's economic rhetoric, revealing significant concerns about the current administration's policies and their impact on the American economy. Through incisive dialogue and pointed critiques, Tim Miller and Bill Kristol provide listeners with a comprehensive understanding of the underlying economic tensions and leadership challenges facing the Trump-Vance administration.