All Hell Breaks Loose as Trump Has Awful Friday
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Why is Trump reacting so aggressively to the latest economic data?
Seems like all hell is breaking loose today as Donald Trump got very bad news. Bad economic data. Disastrous, one might say. Inflation is now spiking to 2.7% in May. That's worse than expected. Income is falling 0.4%. GDP is shrinking 0.5% in Q1. It was revised downward and consumer spending is dropping 0.1%. Donald Trump is freaking out. He held a whole press conference and I'll cover the press conference in a little bit, but he's been attacking Canada, lashing out at Canada this morning and saying all discussions with Canada are off. We are going to tariff the hell out of Canada. I'll show you that in a moment as well. And he's also telling the Ayatollah of Iran, I saved you from a very ugly and ignominious death.
You owe me. Stop saying that you beat us. That is a very mean thing. I'll go and show you his post. Meanwhile, Iran has fully pulled out of the IAEA. cooperation deals and inspections as a result of the strikes against Iran, which we now know from U.S. intelligence, European intelligence and others were not as effective as the Trump regime had claimed. Economist Justin Wolfers over at the University of Michigan, though, says the following. It's quite rare for consumer spending to fall in inflation-adjusted terms. It happened during COVID and during the financial crisis, and it is happening now. Wolfers also points out that it seems, he puts it as a question, but it seems that we're starting to see the first signs in official data of tariff-fueled inflation.
And you can see the inflation rising again with that bad report in May 2020. Meanwhile, as you go to Donald Trump's social media platform, you see things like this. This is, I guess, how the social media platform tries to earn revenue. But as you know, Truth Social and Trump Media has been losing massive amounts of money. I think like last year, lost like hundreds of millions of dollars, huge, huge losses on like $4 million in revenue.
What did Trump say about Canada and how will the new tariffs affect trade?
Trump's $150 trillion gift to America. As I look at this photo, I still don't know what this thing is by his ears right there, but it's just grift after grift, it seems in my opinion. Now, Donald Trump posts the following about Ayatollah Khomeini, the leader of Iran. He goes, why would the so-called supreme leader, he puts that in quotes, Ayatollah Ali Khamenei of the war-torn country of Iran say so blatantly and foolishly that he won the war with Israel when he knows his statement is a lie? It is not so. As a man of great faith, he is not supposed to lie. His country was decimated. His three evil nuclear sites were obliterated. He puts that in caps. And I knew exactly where he was sheltered and would not let Israel or the US armed forces, by far the greatest, most powerful in the world, terminate his life.
I saved him from a very ugly and ignominious death. And he does not have to say thank you, President Trump. In fact, in the final act of war, I demanded that Israel bring back a very large group of planes which were heading directly to Tehran. looking for a big day, perhaps the final knockout, exclamation point. Tremendous damage would have ensued and many Iranians would have been killed. It was going to be the biggest attack of the war by far. During the last few days, I was working on the possible removal of sanctions and other things, which would have given a much better chance to Iran at a full, fast and complete victory. The sanctions are biting. But no, instead, I get hit with a statement of anger, hatred, and disgust and immediately dropped all work on sanction relief and more.
Iran has to get back into the world order flow. What the hell in the world is he even talking about there? Then he says that he's ending all trade discussions with Canada and will be levying more tariffs against them in the next seven days. We have just been informed that Canada, a very difficult country to trade with, including the fact that they have charged our farmers as much as 400% tariffs for years on dairy products, has just announced that they are putting on digital services tax on our American technology companies, which is a direct and blatant attack on our country.
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Chapters
8 chapters
1
Why is Trump reacting so aggressively to the latest economic data?
0:00–2:19
2
What did Trump say about Canada and how will the new tariffs affect trade?
2:19–5:12
3
How is Trump framing his relationship with Iran’s Ayatollah in his recent posts?
5:12–7:26
4
What does economist Justin Wolfers say about the current inflation and consumer spending trends?
7:26–9:47
5
Why is Trump’s Truth Social losing money and what does that mean for his media empire?
9:47–12:15
6
What are the latest developments in U.S. trade negotiations and the August deadline?
12:15–14:25
7
How does the Supreme Court ruling on nationwide injunctions impact Trump’s policy agenda?
14:25–16:50
8
What are the implications of the recent debate over women’s health care and ectopic pregnancies?
16:50–17:26
Speakers
5 identifiedMore from The MeidasTouch Podcast
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