Ep. 2094 - The Media Root For TRUMPFLATION?!
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What is the opening promo and why is “Run Hide Fight Infidels” being highlighted?
You can't entertain Americans when you actually hate the average American, their values, their belief systems, you know, the country that they love. Enter the Daily Wire. Our newest release, Run Hide Fight Infidels, is finally streaming. Radical jihadists will destroy our freedom, but only if we let them. If you're a fan of those over-the-top action-packed films from the 80s and 90s, Red Dawn, Toy Soldiers, this is a movie you're not going to want to miss. Red-blooded American Good Guys taking on the radical Islamic terrorists. To regain their freedom. Watch Run Hide Fight Infidels. It's streaming now, only on the Daily Wire. Well, folks, Milton Friedman once said that inflation is everywhere and always a monetary phenomenon.
And yet there are a lot of people who are suggesting today that really inflation is going to be the result not of printing money or spending too much money. It's going to be the result of Donald Trump's economic policy. I think this is wish casting. We'll talk about it in a second. First, if you have not heard, our best deal of the year is happening. Right now. Get 50% off. New annual memberships. No code needed. Go to dailywire.com/slash Black Friday and join right now. So President Trump is currently riding high. His approval ratings are in the high 50s, low 60s. People generally approve of his transition team's plans. They like what they are seeing. And so that means it is now indicative that the media are trying to crush his sort of economic dreams.
The idea is being promulgated by the media is that. Inflation, which ate up the Biden administration, is now going to plague Donald Trump. Now, this is kind of funny because we were told by this exact same media that inflation was not going to be a factor for Joe Biden when he took office. We were told that modern monetary theory, Elizabeth Warren's bizarre and strange theory about economics.
How does the host explain Milton Friedman’s view of inflation versus the media’s “Trumpflation” narrative?
That you could endlessly spend money without ever inflating prices, without ever inflating away people's savings, that that was possibly true, that we could just keep spending money until the end of time and inflation would not result. And then of course inflation did result. Well now the claim is that Donald Trump's economic policies are going to produce Trumpflation, that Trumpflation is coming. Now the pitch on this is basically That Donald Trump is pursuing a series of policies that are going to lead to price increases. Those policies would be, in order, tariffs, tax cuts, and deportations. This is a case made by Alan Blinder over at the Wall Street Journal. He's a professor of economics and public affairs over at Princeton.
He was also a member of the Federal Reserve from 94 to 96. He says three such policies received the most attention during the campaign tariffs, tax cuts, and mass deportation of illegal immigrants. He says, no matter how many times Mr. Trump denies it, tariffs are discriminatory sales taxes. Discriminating against imported goods is their purpose. Sales taxes raise prices for consumers. Now, this is true. It is true that tariffs raise prices to consumers. That's literally what they are designed to do. Tariffs protect particular domestic industries against foreign competition. And what that really does, that's nice speak for, it raises prices on consumers in order to benefit. one particular class of producers.
So let's say that you are a steel producer in the United States. And let's say that China is importing steel at a rate that is much lower. You put tariffs on the Chinese steel. And now it is cheaper for Americans to buy the American steel than the Chinese steel, but that's at a price that is higher than they otherwise would have paid. So The domestic steel manufacturers are very happy, but the consumers of steel are very unhappy. The thing about tariffs is that, like most government policies, they have a set of very specific beneficiaries and a very and a set of extremely diffuse victims. And there's a lot of government policy, is that the damage done to the broader public. Is mild to moderate, and the benefit to a very, very selective class is very high.
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Chapters
4 chapters
1
What is the opening promo and why is “Run Hide Fight Infidels” being highlighted?
0:00–1:31
2
How does the host explain Milton Friedman’s view of inflation versus the media’s “Trumpflation” narrative?
1:31–8:17
3
What are the specific tariff, tax‑cut, and deportation policies that could cause “Trumpflation” according to Alan Blinder?
8:17–19:50
4
How does the host argue that Trump’s tariff strategy is a leverage tool rather than a pure price‑raising measure?
19:50–50:55
Speakers
4 identifiedMore from The Ben Shapiro Show
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