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The Bulwark Podcast

S2 Ep1041: Justin Wolfers: Trump's Centrally Planned Economy

13 May 2025

Description

China sounds downright Reaganesque and is acting like a more stable, attractive trading partner than the country that launched a trade war. And even though Trump loves play-acting businessman, and calling CEOs by their first name, no one on Wall Street and no one who studies economics likes his continuing tariffs—they know they hurt American companies and American consumers. And the uncertainty is paralyzing. Meanwhile, the GOP will use fancy terms to try to paper over their budget, which would hurt the working class and dramatically increase the deficit—all for tax cuts. University of Michigan's Justin Wolfers joins Tim Miller. show notes Justin's pod, "Think Like An Economist" Tim on the "Raging Moderates" podcast Tim on the podcast, "Breaking Points" The New Orleans antique store Tim referenced

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Full Episode

0.898 - 19.694 Advertisement voice

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33.848 - 54.209 Tim Miller

Hallo und willkommen zum Buller-Podcast. Ich bin euer Host Tim Miller. Wir gehen tief auf Tariffs und die Wirtschaft heute. Wenn ihr meine Gedanken über einige der anderen Themen des Momentes möchtet, ich bin lately ein Podcast-Slut. Ich war heute auf Breaking Points. Breaking Points ist der Horseshoe-Podcast zwischen Bernie und Maga-Typen. Und also... That's interesting.

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54.249 - 95.875 Tim Miller

We got to talk about the New York airport, David Hogg, the DNC drama, the Biden book, my political journey. So that could be interesting. If that's not your cup of tea, I was also on with Scott Galloway. I was guest hosting Raging Moderates. Hey, man. Hey. Ja, sicher.

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115.365 - 133.558 Justin Wolfers

One of my very dearest friends is part of the Labor Party government that was just reelected. Very interesting election for Americans to hear about, partly because I suspect there's not been a lot of reporting. So you go back four months ago and the opposition conservative party was in the lead in all the polls.

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133.598 - 146.887 Justin Wolfers

The leader of that conservative party, bloke by the name of Peter Dutton, decided he'd sort of run as a bit of Trump-lite. He, in particular, sort of anti-woke. Und dann hat er angefangen, sich darin zu lehnen. Woke hat Australien gewählt?

146.947 - 151.752 Tim Miller

Ich wusste nicht, dass Woke untergegangen ist.

151.852 - 176.449 Justin Wolfers

Oh Mann, es ist überall. Die Leute haben es als elektronische Strategie gesehen. Er hat die Medien getötet, die in Amerika aus der Bühne waren und immer noch sind in den stärksten Demokratien. And Australians didn't react very well to that. He decided that he'd include a Doge-like element in his election platform. And he still was in the lead. And then Trump got elected.

176.469 - 201.096 Justin Wolfers

Not only Trump got elected, Trump started his term. And the utter chaos that MAGA... was enough the Aussies looked at it and all of a sudden said they didn't want this. So they nicknamed this bloke Timur Trump. And he really only went 10% of the way down the Trump agenda, but it was enough that the Australian electorate was like, we're not having any of this.

202.565 - 216.114 Justin Wolfers

So the left-wing party, the Labour Party, ended up not only getting re-elected, which, by the way, remember, we're on a run of incumbents getting booted out of office all around the world, but also an enormous swing towards them.

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