Trump’s campaign spiral continues: Trump rambles, slurs his way through Elon Musk interview. It was an unmitigated disaster.

Hoo boy. Trump spends less time on track than a decommissioned train car. And so it was that his highly intellectual speech on a thing called the economy became, predictably, a dumb speech on a bunch of stuff that has nothing to do with the economy.

Like making fun of Democratic presidential nominee Kamala Harris’s laugh.

Trump proves again in North Carolina that insults are all he has

“For nearly four years Kamala has crackled as the American economy has burned,” Trump said, presumably mispronouncing “cackled,” because he struggles with words. “What happened to her laugh? I haven’t heard that laugh in about a week. That’s why they keep her off the stage, that’s why she has disappeared.”

Harris and her running mate, Minnesota Gov. Tim Walz, have been barnstorming states lately, doing far more events than Trump and drawing crowds significantly larger than the one that showed up Wednesday to hear him occasionally reference the economy.

 “That’s the laugh of a crazy person, I will tell you,” Trump droned on. “She’s crazy.”

Labeling Harris crazy and mocking the way she laughs is the kind of thing Republicans keep advising Trump not to do. But he couldn’t help himself, later calling Harris an “incompetent socialist lunatic.”

‘Kamabla’? Trump isn’t just losing the election, he’s losing his mind.

Trump’s understanding of how the economy works seems dodgy at best

When he did deign to talk about the economy, Trump said things like this, referencing the brief stock market drop of last week, something he had labeled the “KAMALA CRASH!!!”:

“Many people say the only reason the stock market is up is because people think I’m going to win, did you ever hear that? But there was one day a couple weeks ago when they weren’t thinking that.” 

OK, first off, nobody thinks Trump has anything to do with the stock market being up. And then to think last week’s drop – from which the market quickly recovered – happened due to a brief belief that Harris might win the election? That makes me wonder if Trump can even spell “economy.”

An economic speech about … rape?

Of course, no intellectual presidential campaign speech on the economy is complete without an extended riff on immigrants and rape, so Trump said: “Rape and murder, rape and beatings, rape and something else, and sometimes just immediate killing. These people are brutal. These are people that came out to the toughest jails anywhere in the world all over the world, and we can’t take them.”

Migrants commit crimes at far lower rates than U.S. citizens, but, you know … THE ECONOMY!

Speaking of the economy, while Trump was occasionally mentioning the word – providing no concrete policy proposals other than specious claims he will singlehandedly fix everything – the U.S. inflation rate hit its lowest point in three years. 

The economy is simply not the disaster Trump and the GOP claim

And that gets to the heart of one of Trump’s biggest problems. The economy is doing reasonably well. Unemployment is low, the stock market has been breaking records and inflation continues to drop. Back in April, Moody’s chief economist Mark Zandi told CNBC: “The U.S. economy is leading the way for the global economy. It’s driving the global economic train.”

So, calling America a third-world country while taking childish swipes at the vice president’s laugh and fear-mongering about an immigrant crime wave that doesn’t exist? That’s not going to do much to swing voters who have been swinging in Harris’s direction since she took over the top of the Democratic ticket.

Republicans have been frustrated with the Trump campaign, and they know he needs to show voters something that will help him regain footing. His intellectual speech on that thing called the economy didn’t show anyone anything.