'Most of the people' who supported Trump in 2024 'are frustrated': Scaramucci 

All right, let's talk about the economy. Markets are up. Faith in President Trump's grip on the economy is way down, according to new polling from the AP, which was conducted during the time the Strait of Hormuz was reopened by Iran for that one small second. A whopping 70% of Americans disapprove of the president's handling of the economy. I wonder what that number would be today. Joining us, Yale Law School professor and president of Yale Budget Lab, Natasha Sarin. Also Anthony Scaramucci is still with us. So I get the polling numbers. I understand why Americans are frustrated and feeling duped. They were promised lower prices. They haven't got that. Inflation is under control. Now gas prices are up a whole lot. I get all that. I don't get Anthony. I do not understand the stock market. I get there's a few tech companies that are doing well. I don't understand how we keep hitting record highs.

Is there, when you're looking at things, are you, do you give yourself a certain time limit? Like if this doesn't get resolved in the next three weeks or three months. Do you expect there to be a change in the way the markets are reacting, whether they start to glue themselves, investors start to glue themselves to reality?

Earnings season, off to a really good start. Lots of companies exceeding expectations. 80% of the S&P 500. Those companies have reported their earnings so far. Is that part and parcel with what Anthony's talking about?

It is a little bit with what Anthony's talking about. And this, by the way, isn't just The Magnificent Seven. It's not just these tech stocks. It is essentially 80% of companies who reported earnings so far in Q1 are reporting better than expected earnings. And that's even though there's been this war and even though there's been this disruption, and analysts are expecting profits to rise even despite the conflict. And so something that I think it's important for your viewers is really a good barometer of the type of long-term damage that's being done to the American economy. We know that markets sometimes take time to react to geopolitical disruption and uncertainty. And then when they do react, they react quickly. Think about Black Monday in 1987, when all of a sudden after many months, many years of concerns about overhyped stock market valuations, you saw the market lose more than 20% in one day. And so I don't want your viewers to have this sense of complacency that just because the market is doing well, the economy is doing well. I actually think there are real, real risks and those risks are getting heightened as you think about things like the war or you think about things like tariffs.

But also explain, I mean, there's only a certain number of people who are in the markets. I mean, it's 50%, but there's a small number of people who are making a ton of money off the markets. Everybody else is looking at their paycheck and they're looking at the prices and they are, if they're doing okay today, they're still worried about tomorrow. Explain that.