Episode 4390： MAGA Is In A War And We Must Stay Vigilant; Exposing The Long Con
Episode Stats
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Summary
Rob and Steve talk about the impact of the Trump administration's latest trade tariffs on the markets and what they mean for the economy. They also discuss the impact on the Federal Reserve and what it might have to do about it.
Transcript
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They're in a pirate. How's that? Street fighter and a pirate.
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Although the MSNBC and CNBC are trying their best to stir up a panic.
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We've got kind of a cold open, longer cold open because there's so much going on.
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And I'll return with observations and analysis as we open the world.
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It's so important that you bring up the fact that the Biden administration
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was late on figuring out just how dangerous inflation would be to working Americans.
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And again, said it was transitory. It ended up not being transitory.
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You bring up the Treasury Secretary, who, again, a couple of weeks ago said,
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It's not a God-given right for American consumers.
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And then saying yesterday, well, other countries shouldn't push back against these high tariffs.
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Well, I suspect it's because neither he nor many of the people who are advising the president,
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certainly not those on Wall Street supporting him, actually agree with the president on tariffs.
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I mean, Donald Trump stands almost completely alone in believing that he can reorder, you know, 45 years of globalism.
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My sources say that Scott Pesant is kind of the odd man out here.
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And in the inner circle that Trump has, he's not even close to Scott Pesant or listening to him.
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Some have said to me he's looking for an exit door to try to get himself to the Fed because in the last few days,
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he's really hurting his own credibility and history in the markets.
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Those who have said this man actually understands how the markets work and what's happening right now is only going to hurt markets.
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And even for Scott Pesant to say a few weeks ago, you know, getting cheap goods fast is not part of the American dream.
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No, it's not part of the American dream, but it's part of the way Americans live, especially people who are economically, economically vulnerable.
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They don't have the option to say, nope, I'd like higher things that cost more.
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They need low cost things because they don't make that much money.
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That Jerome Powell and the Federal Reserve now face before what we talked about was inflation, the high cost of everything.
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Homes, mortgages, cars, whatever caught up in the covid supply chain crunch that we had a couple of years ago.
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Price is still too darn high. I will filter myself as it's a family show.
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And now all of a sudden, the Federal Reserve is finding itself trying to fight this this tariff, this trade war,
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which I don't want to say came out of the blue, but certainly is a lot worse than people expected.
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I'm not sure anybody on Wall Street that we have talked to here on CNBC expected the president to do exactly what he did.
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Most people say, well, you know what, he's he's just hubris.
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He's going to say this, but ultimately we're not going to get the worst.
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Well, guess what? We got the worst and then some.
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What did Jay Powell say today? The Fed chair will, number one, he said, I'm not going to respond to what the president did,
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because the Federal Reserve is not supposed to respond to elected officials.
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But if you read between the lines that I can assure you, there is no love lost between these two men, Jay Powell and President Trump.
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President Trump wants lower interest rates, lower mortgages and lower inflation.
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He has openly called for the Federal Reserve to cut rates.
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The Federal Reserve, though, now is believing that if tariffs are enacted, as we know that they will be, prices are likely to rise.
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That's inflation. And the Federal Reserve does not cut rates in inflation.
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If anything, it might keep rates steady or perhaps even raise them.
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So this is a global conundrum that, as we're seeing from the charts and the numbers today,
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Wall Street is caught in the middle of and it's kind of a sell first ask questions later theory.
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Good. Look at the markets. It has obviously been a disastrous week.
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The response from big investors and small, near and far is not good.
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And it's no surprise that this White House is under pressure.
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The president, his cabinet, they are getting calls from CEOs, from investors, because across the board we are hearing this is bad news.
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This morning I reported that I had heard from close to the White House that there was so much pressure.
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Senator Scott Besson, the Treasury Secretary, was potentially not in the inner circle and potentially looking to make a move to the Fed.
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I actually spoke to someone this afternoon, a high level person inside the administration who cleared that up.
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And they said to me, and I want to get it right, Secretary Besson is more committed than ever to his role as Treasury Secretary.
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He's meeting with the president several times a day and communicating with the rest of the cabinet.
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Obviously, this week's market reaction is painful, but this is about an economic reset.
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But, Katie, you've covered this administration this time and last.
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Palace intrigue is not new to a Trump administration.
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And when there is pressure like this, you know, the knives are out for one another.
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The interesting thing in the tariff situation, though, Katie, who is the president going to blame but himself?
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President Trump is deeply committed to this idea of tariffs.
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What we've heard from Secretary Besson is less about the tariffs, but what he has talked about over and over,
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and the reason he wanted to join this administration, his panic is about debt and deficits.
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Now, we're not seeing any of that cleared up just yet.
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And the thing that has me thinking so much, you were just talking to Yasmin about that dress at Macy's.
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If you and I finished your program and decided to take a walk in the garment district of New York City,
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Because there isn't a garment district in New York City anymore.
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You can walk into a shopping mall this weekend and wonder, are all of these stores still going to be solvent?
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And while we've heard it less from Besson and more from Commerce Secretary Lutnik,
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this idea that we're suddenly going to bring all this manufacturing back, where?
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Adidas spent 15 years trying to build manufacturing in the United States.
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I think New Balance has a small sneaker-making operation.
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But on one of our other networks over the week, I heard someone saying, you know,
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it's time for me to be buying my $200 Nike sneakers that were made here.
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Well, if they're going to be made here, it's going to take two more years or three more years to build that factory,
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So the panic that's in the markets, Katie, I don't know that it's going away,
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but it's understandable that you would start to see some sort of panic or pressure inside the White House,
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After Donald Trump's damage to the U.S. economy comes into fuller view,
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the markets today once again taking a nosedive.
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Even those good jobs numbers that were released this morning could not shake the market's pessimism
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as China retaliated against Donald Trump's tariff regime.
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The Chinese government imposed a 34% tax on all goods imported from the United States.
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As for Donald Trump, he is for now tripling down.
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Yesterday he said things were, quote, going well.
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Today he said on his site Truth Social that China had, quote, played it wrong and panicked.
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He added that the unemployment figures are a sign that his strategy is working,
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but those jobs numbers reflect the month before Donald Trump's so-called Liberation Day economic meltdown was put into motion.
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It puts him at odds with the chair of the Federal Reserve, Jerome Powell,
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who said today that the tariffs would raise prices for consumers and will weaken the U.S. economy.
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It put him at odds with J.P. Morgan, who now predicts a 60% chance of a global recession this year.
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Their report is titled, quote, There Will Be Blood.
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The bank says Trump's tariffs will cost consumers $700 billion this year alone.
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It's a tax hike on a scale that LBJ imposed to pay for the Vietnam War.
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It also puts Trump at odds with members of the Republican Party.
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After the GOP-led Senate delivered a rare rebuke to Donald Trump on Wednesday by voting to undo his tariffs on Canada,
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lawmakers in both chambers are weighing additional steps to rein him in.
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Senators are eyeing other mechanisms to rescind Trump's existing tariffs while limiting his ability to impose new ones.
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Now, we're not going to have all factories come back, like clothing, manufacturing.
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But what kind of manufacturing are you talking about returning here?
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See, what's going to happen is robotics are going to replace the cheap labor that we've seen all across the world.
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They went to the cheapest labor in the whole world, slave labor, cheap labor, the worst environmental conditions, polluting the heck out of it.
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And then we bring back those cheap products here and we feel good about ourselves because we don't see the pain.
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So I really view Liberation Day, as he calls it, to be a real turning point, not just for Americans themselves,
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but for the way the rest of the world is dealing with Donald Trump, not just as it relates to his rhetoric, but his policy.
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Pray for our enemies, because we're going medieval on these people.
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You're just not going to free shot all these networks lying about the people.
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I know you try to do everything in the world to stop that, but you're not going to stop it.
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And where do people like that go to share the big lie?
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I wish in my soul, I wish that any of these people had a conscience.
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Ask yourself, what is my task and what is my purpose?
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If that answer is to save my country, this country will be saved.
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Of course, they are roiling with the announcement of Liberation Day.
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I think that we're going to have Ed Dowd on here to walk through what's actually going on,
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because the MSNBC, CNBC, all of them, they are out to do one thing.
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They are trying to crash markets to bring Donald Trump down.
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This has nothing to do with the American people, nothing to do with, you know,
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all of a sudden Katie Tur and these people, they're so interested and so fascinated and
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so concerned about capitalism and people's 401ks.
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However, you know, about a situation like this, President Trump's policy is absolutely correct.
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What he's doing is a geoeconomic reset of the global trading system.
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He started through, you see how he's rolled out on the reciprocity, on the term of reciprocity.
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And you've already had some major nations, like, for instance, Vietnam, where so many
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of the jobs during the pandemic from China, as they started, people started to reshore.
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It wasn't reshore to the United States immediately.
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They went to other low-cost, low-labor countries.
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Vietnam, as President Trump put up on True Social, has already reached out to President
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Maybe we'll fight you on the margins, but we're in.
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We don't want to get into a trade war with the biggest market and the most powerful nation
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The messaging here, when you have a messaging apparatus that's going to sit there and tell
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lie after lie after lie after lie, do no analysis and repeat the lie, you have to combat that.
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This is not about cabinet secretaries or people at the White House coming on shows, which I
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Peter Navarro, the trade and manufacturing czar.
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They're going to do the Sunday shows this weekend.
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I think, and Stephanie Ruhl, and we love your show.
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We watch it every night to deconstruct it because that's a show kind of all Wall Street
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and the corporate people watch late at night before they hit the rack to see what's going
00:13:01.920
He's got a different professorial take on things.
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That's why he was a contributor here for years.
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That's why we fought so hard to have him as Secretary of Treasury.
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He's in, and he's on the inner circle, not the inner circle.
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He talks to the president multiple times a day, but he's not going to go out with his
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It's what the capital markets want to hear because he's not making it up and kind of
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My issue is you've got to have, as I said on Eric Bowling's show at the end, you have
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The people in the White House Academy of Secretaries, they have a job.
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Yes, they have to be out messing, and they should, but you have to have 50 economists,
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50 businessmen, including the most major ones that buy into the program and understand it.
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REV, we ought to be saying, no, no, no, we can't take anymore.
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So White House staff, I love you guys, doing a great job so far, but now we've got to go
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President Trump is not going to back off this, and he doesn't need to back off this.
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The nations of the earth are surrendering, are figuring out how to surrender.
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They're trying to figure out how they can work around this, how they can do this.
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I'm not saying President Trump's going to do it.
00:14:59.620
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And the pandemic just happened to come in early 2020.
00:16:32.200
Not the total beginning of the story, but I'll pick a random chapter.
00:16:35.140
One of the most important months, if not the most important month in the geopolitical history of the earth in the 21st century was May of 2019.
00:16:49.720
In May of 2019, almost two years into his administration, just over,
00:16:56.200
this construct, this deal we had worked on from the beginning, led by Bob Lighthizer,
00:17:05.360
that Peter Navarro and Lighthizer were working on every day after we'd had a little,
00:17:11.200
how do you say this, Gary Cohn and the globalist crowd took their shot in April and May, June of 2017,
00:17:23.000
President Trump reverted back to exactly what he wanted.
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Lighthizer and Navarro, working with Lee He, came up with what's called the Lighthizer deal.
00:17:34.600
It was seven verticals to take away the seven original sins, as Dr. Navarro calls it,
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and to actually fold it into, kind of merge it into the economy of the West,
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led by the United States of America and Western Europe.
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It would take away the problem of excess capacity and state-owned industries
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and how they gamed the entire system, all of it.
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They also had, that month, the first Belt and Road big conference,
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I think it was actually either Beijing or Shanghai.
00:18:11.800
And at that time, Washi, Sean, and Xi looked and said,
00:18:19.160
This predatory capitals, we're lending all the nations on the Eurasian landmass in the Central Asia
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and Sub-Saharan Africa and the Middle East, Pakistan.
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They're all getting these infrastructure programs up.
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We all know they're not going to be able to pay back the money totally at first,
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so we're going to restructure the debt, take ownership of the infrastructure projects,
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control the countries, and then we have the networking effect that we've been looking for.
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And the United States and Europe will fall shortly thereafter, with Russia as our partner.
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They canceled the, Washi, Sean, said, why should we bow to the foreign devils now?
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They actually called up and said, we're not doing this deal.
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When it was, the draft was prepared, they were prepared to work through and sign a draft
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and then get ready to have a signing ceremony event with President Trump and Xi.
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That's their, when they retrade you, circumstances change.
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That's what contracts was to go through, circumstances.
00:19:23.640
They also declared, as Frank Gaffney tells you all the time,
00:19:26.120
the Committee on the Present Danger tells you all the time,
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they declared a people's war against the United States.
00:19:38.180
But shortly thereafter, I don't know, in the summer or the fall,
00:19:43.520
I think the late summer, the military games, right?
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Trump and, of course, the economy of Trump in 2019 on a roll.
00:20:06.620
We're taking a trillion dollars of liquidity off the balance sheet of the Federal Reserve.
00:20:17.460
Trump grew the economy at that with that headwind.
00:20:22.560
As Cortez tells you all the time, he's got the charts on the whiteboard.
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Blue-collar wages higher than white-collar wages on growth.
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Non-college graduates higher than college graduates.
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Hispanics, African-Americans, baby, we're cooking with gas.
00:20:49.240
He has thought about this to the core of his being.
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This is why he started thinking about back in the late 80s and the early 90s.
00:21:00.360
Particularly, remember when they're buying the air rights over Tiffany, the Japanese?
00:21:06.280
Remember the Japanese in the late 80s and early 90s where they had an acid bubble?
00:21:13.840
And Lou Dobbs, who was kind of his mentor on TV because he was watching CNN and Lou Dobbs was hammering this every night.
00:21:23.360
The beginning of the trade deficit then, Lou Dobbs was hammering that in the 80s and 90s.
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Remember, the trade deficit is $25 trillion, $18 trillion since the globalists in New York City and, of course, the Bush apparatus and the Clinton apparatus, the political class and Wall Street invite the Chinese Communist Party in so we can make slave labor,
00:21:43.520
allow Beijing and everybody make more money except for the working class and middle class United States who are going to have it all on their shoulders.
00:21:51.120
And, oh, by the way, can you also, Moloch wants your children for forever wars in the Middle East.
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Whether it's the legal apparatus that runs the imperial capital, whether it's the universities that radicalize these kids,
00:22:12.860
whether it's the institutions and groups that allowed for a 10 million person invasion on the southern border into our beloved country in four years,
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or allow fentanyl to come in and destroy working class people of every ethnicity and race,
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both in rural communities and in our inner cities.
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Oh, and designate sanctuary cities at the same time.
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The corruption, the incompetence, the hatred of the United States of America and the citizens of the United States of America by our elites is virtually unfathomable.
00:22:53.040
If the revolutionary generation came back here, it's not just the structure and the results.
00:22:59.660
What have you done to allow these people to have control of this, our beloved republic that we put everything on the line for?
00:23:27.500
I'm just talking about the power and the money.
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They have outright contempt and hatred for this country, its sovereignty, this republic and its citizens.
00:23:38.180
And they're going to sit up here now and whine all day long.
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People are going to have to pay more for the dress we can get in Macy's.
00:23:52.060
Were they talking about that when Biden juices, as we said on this show, at the moment they did it in 21 and they did that whole nother cash infusion.
00:24:10.820
And particularly not the traitors, Republicans that signed up for it to get it passed.
00:24:14.900
And now those same Republicans, the same people that signed on to that blood oath with Biden and that crowd for this spending that crushed everything and set inflation up.
00:24:41.040
And the White House staff, you guys have done a great job.
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My producers should be coming to me every second and saying, these people are so obnoxious.
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The commander-in-chief of our armed forces and the chief magistrate and chief law enforcement officer of our nation.
00:25:29.180
You give, you know, Besson come out and do something with Cain.
00:25:43.800
And God in heaven, where are the working class?
00:25:46.100
Hell, guys were coming up in the Rose Garden and high-fiving Trump and taking the microphones.
00:26:06.020
Folks, if you think the biggest change in the global economy since World War II against people that control that and have made so much money, let me just repeat.
00:26:22.420
I think it's since October 1st, the beginning of the fiscal year, $4.4 trillion of wealth has accreted to the top 1 or 2 percent or 0 percent.
00:26:49.560
You don't have a bigger capitalist, a bigger entrepreneur.
00:26:52.820
All he's trying to say is, hey, I'm tired of these elites ripping off American people, and the American people want a piece of the action.
00:26:59.960
They deserve a piece of the action, and they're going to get a piece of the action.
00:27:15.340
You're telling me, Katie Turr, and it's the crowd at MSNBC, and seeing Steve Leisman, this is what's going to do it, and this is going to create this kind of firestorm, and they're sitting there, oh, my God, it's terrible, it's terrible, terrible, and then have a million people call Trump over the weekend?
00:27:30.620
This is terrible because they all grabbed, all these donors, they're all pearl clutchers.
00:27:36.020
They're all gutless, and they panic at the first sign of a fight.
00:27:44.840
Why didn't I think of the reciprocal terrorists?
00:27:55.000
This is a war, and if you don't treat it like a war, you're going to get your ass kicked.
00:28:05.100
Ed Dowd will join us, I think, from Maui or from Hawaii next time.
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You know, sometimes like in deals or, you know, events or messaging, some things are going to be bought, other things you've got to sell.
00:29:53.080
You have to sell this because it's such a massive reorganization.
00:29:56.560
And it's not complicated to this audience because we've walked you through this for the last five years.
00:30:06.940
Why don't we just get the war on posse and be surrogates?
00:30:08.920
Honestly, you guys could sell it better than it's being sold right now.
00:30:13.020
It's got to be sold because you see the counter.
00:30:15.380
The people that controlled the system, that made all the money, and also their theory of the case is we're just going to wait Trump out.
00:30:44.280
These Trump people, they love it when Trump's on the ballot.
00:30:46.780
When they pick a ballot and his name's on top, they're good.
00:31:00.220
Why do you think I'm the biggest advocate of Trump 28?
00:31:09.900
This is a war for this country, for the direction of this country.
00:31:14.960
We're either a constitutional republic built upon entrepreneurial capitalism, or we're going to be what you had in those four years.
00:31:26.020
You saw what they thought about our sovereignty.
00:31:27.740
They thought about what you thought about as U.S. citizens, what they thought about our true allies and where they want to put their money and how they want to sneak it around.
00:31:35.680
New York Post got a story today about Hunter Biden and grime happening on the Obama administration and all that.
00:31:41.620
These people are perverts, they're degenerates, they're crooks, they're incompetent, and they're just overall not good folks.
00:31:51.140
And they want to create all the money and power to themselves and give you a fair thee well.
00:31:56.320
Now, this is about the forgotten man and woman who are forgotten no longer.
00:32:05.420
You've raised your head up and you've roared and you put him on your shoulders and delivered the biggest comeback victory in the history of the nation, bigger than the one in 16, against all odds.
00:32:18.580
On a man they wanted to put in prison, a man they wanted to bankrupt, a man they brought up all these charges, women, all this stuff, all this, everything, all this, all this stuff, all of it, all of it every day.
00:32:30.240
And he had the moral courage to say, hey, I know it's going to happen, but I'm all in.
00:32:35.120
That's why he may be the greatest leader this country ever had.
00:32:37.980
And I understand he's got a couple, three imperfections.
00:33:02.820
I don't want to hear more about the inauguration.
00:33:06.080
I don't want to hear about this and that and all these sunshine patriots and summer heroes.
00:33:14.120
And I'm talking about a gut check this weekend.
00:33:26.540
And now we're getting an autocratic breakthrough.
00:33:31.940
He sent these poor, innocent, these poor little boys, these poor, innocent kids.
00:33:41.220
They're down in this prison thing because they're good kids.
00:33:45.520
And somehow they just got a rock and roll tattoo.
00:33:48.800
And, you know, people got them for all the wrong reasons.
00:33:51.420
We got to bring them all back and tuck them in because Trump's evil.
00:33:59.660
Folks, I told you when the inauguration is going, they're all running around and they got the crypto thing here and they got that here and they're doing this here and they're running around.
00:34:08.780
Well, I think we're before 70 because Trump is going to get down to it.
00:34:14.500
He didn't put he didn't he didn't risk 700 years of 350 years in prison.
00:34:31.080
Good Lord, he's done more big things in 65 days than all the presidents combined of the 20th century.
00:34:40.340
If you think about it structurally for the little guy.
00:34:47.860
He said Reagan and FDR can't be greater than that.
00:35:05.580
I don't see anybody banging heads from the from the White House.
00:35:10.960
President Trump's got a couple of three things on his plate.
00:35:16.160
What I want to see him is up on the Capitol steps with a sign that says reciprocity.
00:35:21.440
Because behind the scenes, they're the ones leaking to the press and yammering.
00:35:31.660
This is the same crowd that won't go down and have a town hall because they're afraid
00:35:35.420
a Democrat is going to say something bad to them.
00:35:39.920
So, you know, if these Democrats are going to get something, hey, tell those Democrats
00:35:52.040
How come working class people are not voting for your vote or voting for us?
00:35:59.480
And if they don't shut up, hey, you get a question.
00:36:01.200
If you don't ask a decent question, throw them out of there.
00:36:10.480
The reason the country's in the shape it's in for too long, the Republicans just went
00:36:15.200
along with this little bow ties and, you know, going to have a, you know, going to have
00:36:23.080
This is not wearing thin ties and, you know, reading Whitaker Chambers' Witness.
00:36:28.760
That's all great, but that's not what this is about.
00:36:30.520
This is a fight for the direction of your country.
00:36:33.100
This is like the guys in the Patriots in the Revolutionary War.
00:36:41.380
This is a political Donnybrook, a fight, and they're fighting.
00:36:49.640
We better not be feeling good now because President Trump's put it all on the line and
00:36:55.580
They're coming for him because they think they saw Wisconsin.
00:37:03.500
They get a guy running around with a cheese head on.
00:37:08.520
These people are plenty tough and they're plenty smart and they're conniving.
00:37:18.580
The last thing they want is the American people to have the sovereignty of their nation
00:37:31.520
He's got 12 years or 11 and a half years minimum.
00:37:35.260
So, yeah, we got a couple of cards up our sleeve.
00:37:44.960
But they think we don't need to worry about that.
00:37:46.940
Don't peach him in the midterms because of this.
00:37:55.540
But they lay out the case of what President Trump inherited and what he's trying to reorient.
00:38:01.280
Well, you mentioned in this monologue that MSNBC and CNBC are talking about how Trump's wrecked
00:38:10.900
The middle class economy, the real economy, was already wrecked going into the election.
00:38:19.740
And I've said before, and I'll say it again, Ronald Reagan had a similar setup, won in a
00:38:24.880
He had a double dip recession while he restructured the economy.
00:38:28.560
Bill Clinton, same setup, minus 2 percent real wage growth versus Bush.
00:38:36.140
And Trump won because the economy was already wrecked.
00:38:38.780
The stock market, which is now, I guess, making headlines, was already in the process of topping
00:38:46.120
And what people need to understand is that the last two years of the Biden administration
00:38:51.980
You know, in every Fed cycle of easing and then tightening, the fraud comes out.
00:38:57.580
While we had corporate fraud in the 90s, we had bank fraud that almost took the system
00:39:04.700
Then we had a 14-year easy money period and then an interest rate hike.
00:39:08.520
And usually once the punch bowl is taken away and it has been taken away, interest rates
00:39:15.320
And there was fraud that propped up the last leg of this.
00:39:17.760
And this fraud was the elephant in the room, illegal immigration, 10 to 15 million people
00:39:22.800
brought in in a four-year span, majority of which in the last two years.
00:39:28.100
It's easy to assume the all-in economic cost for an illegal alien, which was a purposeful
00:39:34.000
policy of the Biden administration, outsourced to NGOs, the all-in economic cost that got
00:39:39.520
its way, worked its way into the economy using our balance sheet and deficits, was about
00:39:46.840
That includes getting them from Central America to the Darien Gap, to the border, into the interior
00:39:52.300
of the U.S., setting them up with accommodations and then giving them food and shelter for the
00:40:01.160
And that's about, if you say 15 million illegals, good, and that's $1.5 trillion that was spent
00:40:06.100
to prop up this economy through the NGO system.
00:40:11.040
And that's why we had fraudulent non-farm payroll numbers.
00:40:14.220
We suspect only about 2 million of the illegals actually got jobs.
00:40:19.080
Doge has exposed so much fraud, getting Social Security numbers, free benefits.
00:40:24.680
I think the administration needs to really talk about the fraud that they've uncovered
00:40:30.540
And the economy, quite frankly, started the weekend, the moment Trump got elected.
00:40:34.440
Look, $16 trillion from the pandemic going, $16 trillion.
00:40:43.080
The reason this thing was propped up is federal spending.
00:40:48.120
And the Congress went along with it, and Biden went along with it.
00:40:56.700
Inflation is not going to stop until you stop that.
00:40:58.740
We have, okay, for the people on CNBC and MSNBC, particularly Katie Turr, take your number
00:41:04.820
Katie, I can tell right away that you were a math with tears person.
00:41:10.260
I think she said the other day she took calculus.
00:41:13.980
We have $25 trillion trade deficit, cumulative, aggregate, and $37 trillion of debt.
00:41:20.240
I got another $100 trillion of, you know, contingent liabilities, I would call them.
00:41:29.360
Part of the 37 trillion is that people are not making enough money.
00:41:32.640
They're buying the cheap goods sent over from China because they don't have the jobs here
00:41:41.180
$18 trillion since China's come into the World Trade Organization and got most favored nation
00:41:47.060
By Clinton and Bob Rubin and the neoliberal neocons of the Bush Clinton.
00:41:54.300
They're all the same folks, and that's the gospel they're preaching here every day, and we're
00:42:06.940
The American people are going to get a great deal.
00:42:20.160
Why do you think they're on MSNBC and CNN, New York Times, Wall Street Journal, Financial
00:42:25.160
She's one of the smartest women in the world in capital markets.
00:42:33.060
Hell, it's the Financial Times of London, the Wall Street Journal, the New York Times.
00:42:38.920
Do these people have anything in common or ever have the back of working men and women
00:42:48.940
They hate him because they think he's a traitor to his class.
00:42:55.180
He's exposed the con, the long con, and that's what this has been.
00:43:01.260
And Ed Dowd just walked into a couple of three numbers that they never wanted to talk about.
00:43:06.040
Were they running around with inflation, inflation, inflation, and talking about how bad inflation?
00:43:10.500
They were trying to cover it up, but it's really not that bad.
00:43:13.600
I'm not talking about the decline in the purchase power of the dollar or why the BRICS nations
00:43:22.980
Hell, they got hundreds of economists and hundreds of business guys.
00:43:27.980
Because they're part of a corrupt system and they don't want to take their hands off the
00:43:49.400
And let's not even start on the natural disasters.
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Get the six free, and so I mean, get them all, but get the six free one.
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Modern monetary theory, the idea that broke the world.
00:45:21.040
Don't think we're the world's biggest margin call?
00:45:25.100
Over at Substack, I'll put this up later, Tanvi Ratna, very perceptive.
00:45:32.720
They're a first move and a full spectrum reset.
00:45:47.660
Remember on the pandemic, they want to do, remember the World Economic Forum, like Klaus Schwab,
00:45:56.240
They want to do what, the build back better, a bunch of pencil necks with PowerPoints, doing
00:46:07.460
You see that speech in the Rose Garden the other day?
00:46:09.420
That's a man stepping into it and say, here's the way it's going to be.
00:46:27.720
I don't want to hear any whining and bitching and moaning about, oh, this is so terrible.
00:46:35.700
If you add the 20 to the 34, he got 54% tariff.
00:46:39.000
Chinese Communist Party, they ain't sleeping tonight.
00:46:54.960
Deal with the 54% tariff, of which 20% is starting immediately.
00:47:14.040
Got the thin suits and all the different colors.
00:47:23.080
A world that you built that's screwing working class people throughout the world,
00:47:28.000
but particularly in the United States of America.
00:47:32.680
And he doesn't care if you like it or you don't like it.
00:48:02.160
All the people that hated him for so many years abandoned him.
00:48:04.420
They're all back after 10 o'clock, after Pennsylvania and Wisconsin and Michigan, after all, fell.
00:48:29.260
I think I've missed those voices the last couple of days.
00:48:36.460
Maybe my staff just didn't pull all those endorsements.
00:48:41.920
Where are all those Republican politicians all down there begging him, kissing his ass to get an endorsement?
00:49:04.800
How many have come forward with full throat and said, absolutely, this is 100% right.
00:49:10.500
Trump's redoing this for the American people, forgotten man and woman.
00:49:22.480
Oh, Bernie put out a sharply worded press release.
00:49:25.120
Yes, you need terrorists, but this is not the way to do it.
00:49:33.480
You had two shots at the neoliberal neocon mafia, and you blinked both times.
00:49:41.260
Oh, he's drawing big crowds, drawing big crowds.
00:49:43.340
Hey, hapless fools that go to Bernie Sanders are going to remain hapless fools.
00:50:06.720
Everybody for decade after decade after decade after decade has said the jobs all shipped,
00:50:24.220
And you see those people, you know, Stephanie Ruhle and that crowd on them.
00:50:27.220
They're all, yeah, this is too bad, you know, and they're making a pitch.
00:50:34.520
There's no sustainable competitive advantage in a service economy.
00:50:43.820
Well, the only reason that you got it, come on, it was you granted these guys monopoly status.
00:50:51.380
Let Lena Kahn on them for a month and see how, what big shots they are.
00:51:01.060
It's a service economy, and we're not counting services, and services become so competitive.
00:51:09.400
It's what you make, how you make it, how you produce it, how you grow it.
00:51:13.720
I don't want to hear any whining if we don't win this moment.
00:51:29.020
I'm taking them, writing that down with my number two pencil.
00:51:34.080
And I don't want to, after this, no more shot at coming back on the boat.
00:51:39.200
If you jumped over the boat, you're going to swim back?
00:51:49.360
We're banned everywhere for good reason, and I'm damn glad of it.
00:51:54.200
It's so detestable what I've seen the last couple of days.
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When the American people, their livelihood, their pursuit of happiness,
00:52:06.040
which I happen to read somewhere, their pursuit of happiness in their children,
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