Stocks Trigger "Titanic Syndrome"

The number of stocks moving from all-time highs to making new 52-week lows this month are surging, triggering what traders call "Titanic Syndrome". Today 50-year Wall Street veteran, Marc Chaikin explains exactly what changes you should make to your portfolio today to prepare for more volatility ahead.

Trump vs Musk? Federal Workers Unconvinced He'll Take Action: 'If They Don't Cut, Elon will, Comments Show Who's Really In Charge'

Bibhu Pattnaik
March 08, 2025

President Donald Trump has reportedly limited the authority of his billionaire advisor, Elon Musk, to dismiss federal employees. This development has stirred skepticism among the workforce and political circles.

What Happened: According to a report, Trump privately communicated to his Cabinet that they have the power over their departments, not Musk. This potential shift could mark a significant change in the Trump-Musk alliance.

However, the federal workforce remains uncertain due to weeks of inconsistent and contradictory directives, reports the Politico.

David Casserly, an employee at the Department of Labor, voiced his skepticism, saying, “I’ll believe it when I see it.” The news of the Cabinet meeting has spurred widespread speculation about Trump’s real intentions, particularly in the face of increasing legal and political scrutiny.

Some have interpreted Trump’s comments as an attempt at “damage control” after he announced that Musk is the “head” of the Department of Government Efficiency (DOGE) during his joint address to Congress.

Also Read: Elon Musk Claims Rival Billionaire Wants to ‘Destroy’ Trump To Suppress Jeffrey Epstein Client List

This statement could potentially lead to legal complications, as the White House had previously argued in court that Musk was not the DOGE leader and had no authority to make distinct policy decisions, reports the outlet.

Despite the skepticism, Trump’s comments have ignited hope among Democratic lawmakers, who are eager to see Musk’s influence curtailed and the drastic cuts to the federal workforce reversed.

A State Department official told the outlet. "I don't think it's real. The ‘if they don't cut, Elon will' comments show who's really in charge."

Why It Matters: The recent development is a stark contrast to the earlier alliance between Trump and Musk. The move to limit Musk’s authority over federal employees could potentially alter the dynamics within the Trump administration.

The skepticism among the workforce and political circles underscores the uncertainty surrounding this decision. The potential legal implications of Trump’s previous statements about Musk’s role in the DOGE further complicate the situation.

As the story unfolds, the impact of this decision on the federal workforce and the political landscape remains to be seen.

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