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Photo: Cheriss May/NurPhoto via Getty Images

Usually when people say stupid or cruel things, they apologize and move on, instead of defiantly standing by their statements. But that doesn't happen in Trumpworld, and it certainly hasn't happened in the case of White House staffer Kelly Sadler's callous remark about John McCain.

The big picture: Once you’ve worked for Trump for a while you know that the worst thing you can do, the biggest show of weakness, is to apologize. He never does and never did (with one exception — the "Access Hollywood" tape). So staff knows that if they publicly apologize they’re actually MORE likely to incur Trump’s wrath than if they just move on.

In this specific case I'm told that White House Press Secretary Sarah Sanders was so furious about the leak that she didn’t want to say anything publicly to validate it. And other White House staffers like Mercedes Schlapp defended Sadler privately because they believed she was being viciously targeted by colleagues. 

I asked a senior administration official about the phenomenon this morning. Here's how he explained it:

"Not apologizing is a core operating principle for Trump. The basic belief is that you never actually get ‘credit’ — from the Left, the media, political opponents, etc. — for apologizing, so why do it? Even the Access Hollywood response video included a defiant Trump going after the ‘actions’ of Bill Clinton and ‘bullying of victims’ by Hillary, and ended with ‘See you at the debate!'"

Go deeper

Trading platforms curb trading on high-flying Reddit stocks

Major trading platforms including Robinhood, TDAmeritrade and Interactive Brokers are restricting — or cutting off entirely — trading on high-flying stocks like GameStop and AMC Entertainment.

Why it matters: It limits access to the traders that have contributed to the wild Reddit-driven activity of the past few days — a phenomenon that has gripped Wall Street and the country.

2020 was the economy's worst year since 1946

Source: FRED; Billions of chained 2012 dollars; Chart: Axios Visuals

One of the last major economic report cards of the Trump era lends perspective to the historic damage caused by the pandemic, which continued to weigh on growth in the final quarter of 2020.

By the numbers: The U.S. economy grew at a 4% annualized pace in the fourth quarter, a sharp slowdown in growth compared to the prior quarter. For the full year, the economy shrank by 3.5% — the first annual contraction since the financial crisis and the worst decline since 1946.

Dion Rabouin, author of Markets
3 hours ago - Economy & Business

How GameStop exposed the market

Illustration: Eniola Odetunde/Axios

Retail traders have found a cheat code for the stock market, and barring some major action from regulatory authorities or a massive turn in their favored companies, they're going to keep using it to score "tendies" and turn Wall Street on its head.

What's happening: The share prices of companies like GameStop are rocketing higher, based largely on the social media organizing of a 3-million strong group of Redditors who are eagerly piling into companies that big hedge funds are short selling, or betting will fall in price.