Financial Times columnist Robert Armstrong coins the devastating acronym TACO (Trump Always Chickens Out) in May 2025, capturing Trump's consistent pattern of making bold threats only to retreat when faced with economic consequences. Maxwell Slate examines how Wall Street traders embraced this four-letter assessment of presidential weakness, turning Trump's behavioral predictability into profit opportunities. The episode explores the psychological dynamics behind Trump's governing style, where bluster substitutes for substance, threats replace actual policy implementation, and the gap between rhetoric and reality becomes a quantifiable market risk. Armstrong's linguistic genius reveals how financial markets had learned to game Trump's patterns, buying the dip when he made threats knowing he would inevitably back down. The TACO phenomenon exposes the fundamental contradiction at the heart of Trump's political brand: a supposed master negotiator who consistently chickens out when his bluffs are called.

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