Summary of "The Ben Shapiro Show" Episode 2155 - Stock Market PLUNGES…So What’s Next?!

Release Date: March 11, 2025
Host: Ben Shapiro
Podcast: The Ben Shapiro Show, The Daily Wire

1. Introduction: Market Turmoil and Economic Concerns

The episode opens with Ben Shapiro addressing significant recent events affecting the U.S. economy. He highlights a substantial drop in the stock market, mentioning that the Dow Jones Industrial Average plunged nearly 900 points on the previous day. Shapiro emphasizes his commitment to presenting unfiltered, factual information, contrasting it with mainstream media narratives.

2. Stock Market Crash and Recession Fears

Shapiro delves into the specifics of the market downturn, citing a Wall Street Journal report that links the decline to renewed recession fears. Key points include:

• Market Impact: Dow Jones fell by almost 900 points, eroding expectations that U.S. stocks would perform strongly this year. The S&P 500 decreased by 2.7%, and the Nasdaq by 4%.

• Investor Behavior: Shapiro explains that investors are withdrawing funds amidst market instability, preferring the safety of bonds during uncertain times.

• Global Economic Responses: Other nations are implementing their own economic measures—China with increased stimulus, and Germany with military and infrastructure spending—to counteract economic slowdowns.

Notable Quote:
Ben Shapiro [01:30]: "If you mess with the market mechanisms, people don't like it. Investors tend to take their money out of the market and wait for things to be a little calmer, a little more steady."

3. President Trump's Approval Ratings Amid Economic Downturn

The episode discusses the correlation between economic performance and President Trump's approval ratings. Shapiro references an Emerson poll indicating that Trump's approval on the economy has dropped by 11 points, now standing at 47. He attributes part of this decline to President Trump's stringent immigration policies, which have successfully reduced illegal immigration to historic lows.

Notable Quote:
Ben Shapiro [03:15]: "If President Trump is blamed for an economic downturn, the effects could be disastrous, not just for his administration but for free markets more generally."

4. Analysis of Trump's Tariff Policies and Market Reaction

Shapiro critically examines President Trump's tariff strategies, questioning their predictability and efficacy. He argues that while tariffs were intended to protect American industries, the unpredictable implementation—especially against Canada—has undermined market confidence.

• Impact on Trade Partners: Tariffs on Canada, Mexico, and China have created uncertainty, leading to significant stock market sell-offs totaling approximately $4 trillion from the S&P 500’s peak.

• Economic Predictability: Shapiro asserts that consistent and predictable policies are crucial for business confidence and economic stability.

Notable Quote:
Ben Shapiro [05:50]: "Tariffs are not free market oriented. They're effectively attacks on consumers."

5. Elon Musk on National Debt and Economic Sustainability

Elon Musk is featured discussing the alarming state of the U.S. national debt. He points out that interest payments now exceed the Defense Department budget, raising concerns about the country's financial future.

Notable Quotes:
Elon Musk [12:54]: "Our interest payments are higher than our Defense Department budget. If we don't do something about this, there won't be any money for anything. We'll just be servicing debt."
Ben Shapiro [19:05]: "Elon Musk correctly cites one of the key phenomena that demonstrates the underlying weakness of the American economic plan."

6. Expert Opinions: Balaji Srinivasan on Trump's Global Policies

Shapiro references Balaji Srinivasan, an entrepreneur and former general partner at Andreessen Horowitz, who critiques President Trump's approach to reshaping the global order. Srinivasan argues that Trump's policies may inadvertently weaken America's global economic standing by fostering perceptions of isolationism and unpredictability.

Key Points from Balaji Srinivasan:

1. Economic Competition: America’s relative decline is due to lack of competitiveness rather than external competition.
2. Global Leadership: Poor leadership, not the concept of global leadership itself, has led to the U.S.'s entanglements in unwinnable wars.
3. Selective Alliances: Overexertion against allies like Canada could alienate important trading partners.
4. Dollar Dependency: America's ability to print and sell debt is tied to its role as the global hegemon; devaluing the dollar could disrupt this balance.

Notable Quote:
Ben Shapiro [14:20]: "If the markets perceive that America is withdrawing from its global role, it is not going to be beneficial for the markets or American citizens."

7. Congressional Actions and Potential Government Shutdown

The discussion shifts to Congressional maneuvers regarding government funding. Shapiro details Speaker Johnson’s efforts to pass a six-month funding extension relying solely on Republican votes, risking a government shutdown in three days.

• Republican Division: Most conservatives support the funding bill, except for Thomas Massie, who is characterized as a staunch non-voter.

• Trump's Stance: President Trump criticizes Massie for his refusal to support the funding, labeling him an obstacle to governance.

Notable Quote:
Ben Shapiro [26:40]: "In a situation like this, what you actually need is Republicans who are willing to govern."

8. Deportation of Hamas Sympathizer Mahmoud Khalil

A significant portion of the episode covers the White House's decision to deport Mahmoud Khalil, a green card holder and active Hamas supporter.

• Background: Khalil was involved in pro-Palestinian demonstrations and has ties to organizations advocating violence against the U.S. and its allies.

• Legal Justification: Under Immigration and Nationality Act Section 212, individuals endorsing or supporting terrorist activities are grounds for deportation.

• Democratic Response: Democrats criticized the deportation, defending Khalil despite his affiliations with a designated terrorist organization.

Notable Quote:
Ben Shapiro [38:15]: "If you're a green card holder and you support terrorism, probably you shouldn't be here."

9. Democratic Party's Focus and Internal Crises

Shapiro critiques the Democratic Party's priorities, arguing that they are misaligned by focusing on deporting a Hamas sympathizer rather than addressing the economic downturn.

• Social Issues Over Economic Policies: The emphasis on anti-Semitism and anti-terrorism measures is portrayed as political malpractice amidst economic instability.

• Public Perception: Shapiro suggests that Democrats are neglecting the broader economic concerns of Americans by fixating on isolated social issues.

Notable Quote:
Ben Shapiro [42:06]: "Democrats are stuck because they keep throwing out these same types of people. There's an entire article in Politico about Tim Walls... It's political malpractice at this point."

10. Conclusion: Economic Outlook and Political Implications

In wrapping up, Shapiro emphasizes the intertwined fate of President Trump's economic policies and the broader health of the American economy. He warns that continued market instability could lead to a backlash against capitalism and free markets, affecting both policymakers and business leaders.

Final Thoughts:
Shapiro advocates for diversified investment strategies, such as adding gold to portfolios, as a hedge against economic uncertainty. He underscores the importance of informed financial planning to safeguard against impending market volatility.

Notable Quote:
Ben Shapiro [44:30]: "Policy genius is securing your family's future. It's of utmost importance in today's world."

Notable Quotes Overview

• Ben Shapiro:

  • "Tariffs are not free market oriented. They're effectively attacks on consumers." [05:50]
  • "If President Trump is blamed for an economic downturn, the effects could be disastrous, not just for his administration but for free markets more generally." [03:15]

• Elon Musk:

  • "Our interest payments are higher than our Defense Department budget. If we don't do something about this, there won't be any money for anything. We'll just be servicing debt." [12:54]

• Balaji Srinivasan:

  • "MAGMA is hyper focused on cutting off any apparent flow of funds... They are trying to quickly shut off imports, close down institutions and exit all wars." [14:20]

• Van Jones:

  • "The Democratic Party is going through a massive set of internal crises." [42:06]

• Whoopi Goldberg:

  • "If you don't know anything about our bodies, you don't know how it works." [43:31]

This episode of "The Ben Shapiro Show" provides a critical analysis of the recent stock market plunge, President Trump's economic policies, and the broader implications for the U.S. economy and political landscape. Shapiro leverages expert opinions and current events to argue that unpredictable government interventions and misaligned political priorities are undermining economic stability and investor confidence.