Saturday Night Live kicked off with Donald Trump trying hard to calm nerves about the falling stock market, only to come up with a slogan that did anything but: “Make America Great Depression Again.”

Markets tumbled before and after the president’s so-called “Liberation Day” tariff announcement this week, which saw massive percentages applied to several countries. Some islands with more penguins than people were even targeted, oddly. Trump has also shared a video about how he’s “purposely crashing the stock market,” leaving Republicans struggling to justify the tariffs.

SNL‘s Trump (James Austin Johnson) claimed that before “MAWA,” or “Make America Wealthy Again,” must come “MAGDA.”

“It will be better than great. It will be a fantastic depression, the likes of which we’re never seen before,” he argued. “You know, this depression is going to be so great, we’ll be the ones eating the cats and dogs. That’s going to be fun. Low and slow, you’ve got to braise them.”

The stock market crashing is “all part of the plan,” he went on.

“If the stock market goes down and down and down and down, that means there’s nowhere to go but up. Or perhaps further down,” he figured. “But we’ve got to do these tariffs, folks. No idea why, but we have to do them.”

Turning to the poster board listing tariffs on several countries–after Commerce Secretary Howard Lutnick (Andrew Dismukes) mistakenly brought a Cheesecake Factory menu instead–Trump commented, “We listed the countries in neither alphabetical nor numerical order for maximum confusion.”

Trump then pointed out how the tariffs are supposedly “reciprocal.”

“We love the word ‘reciprocal,’” he said. “Unless it’s in the bedroom, right fellas? ‘You want me to do what?’”

Later, a glitching Elon Musk (Mike Myers) showed up, only to be told that his time in the administration was nearing its end, and that he should “have fun on Mars.”