George H. W. Bush
speaker
34 appearances
1 recordings
1 series
first heard Apr 2025
last heard Apr 2025
George H. W. Bush’s voice in public audio — every appearance, attributed to the second.
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Appearances
My fellow Americans, this is Liberation Day, waiting for a long time.
And the prices are going to go up very, very substantially for these goods for the American people.
And it's going to have severe economic consequences because it is like a tax.
Right.
It's going to slow the economy down.
It is going to add to inflation.
And I think it is not inappropriate to start to use the R word for recession in the context of all this.
I think it's going to be very tough.
So, look, he is a 19th century mercantilist.
He is taking us back to the days of William McKinley.
What he's got on that board, what he's trying to say is the actual tariffs that those countries charge are mostly quite low, single digits in most cases.
He's raised it up to double digits, significant double digits with these non-tariff barriers, claiming, in effect, they use other kinds of mechanisms to keep our economy
There's some bits of truth to that here and there, but this is not the way you address it.
Yeah, there's pain for everybody.
And secondly, and that's a market chart showing the reaction you see the last two days.
And we've got the three indices there, the S&P, the Dow and the Nasdaq.
And then you can see that at four o'clock, the moment the president started speaking, you can see what happened.
And it just kept going down from there.
So the companies will have to absorb a little of it, but they're also going to lose a lot of sales.
People are not going to be able to afford iPhones.
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