Justin Wolfers on the Market Fallout From Trump's War Strategy
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What is the main topic discussed in this episode?
I am Shannon Maldonado, the founder of the Jaui gift shop, which sells handmade artisanal products. I chose Shopify because when I tested the devices, I found them to be one of the easiest to use devices. It was important for me to consider our development in the future. All the tools needed for sales, such as storage design, are in the dashboard. Start the free trial at shopify.com.
I founded Ornot in 2013. I think the best thing about Shopify is that we can practice business without technical skills. We can manage the company's background and front-end and sell online. If Shopify was a bicycle equipment, it would be a bicycle itself. That way things are handled and our business is handled in Shopify. Start a free trial at shopify.com website. I founded Ornot in 2013. I think the best thing about Shopify is that we can practice business without technical skills. We can manage the company's background and front-end and sell online. If Shopify was a bicycle equipment, it would be a bicycle itself. That way things are handled and our business is handled in Shopify. Start a free trial at shopify.com website.
I founded Ornot in 2013. I think the best thing about Shopify is that we can practice business without technical skills. We can manage the company's background and front-end and sell online. If Shopify was a bicycle equipment, it would be a bicycle itself. That way things are handled and our business is handled in Shopify. Start a free trial at shopify.com website. I founded Ornot in 2013. I think the best thing about Shopify is that we can practice business without technical skills. We can manage the company's background and front-end and sell online. If Shopify was a bicycle equipment, it would be a bicycle itself. That way things are handled and our business is handled in Shopify. Start a free trial at shopify.com website.
Donald Trump's catastrophic escalation of this already disastrous war in Iran is tanking our economy. Let me show you some of the most recent metrics. Oil is back over $100, as Steve Rotner explains. Gas is above $4. I think the price of crude will be $150 a barrel at this rate, and gas will be, on average, $5, $6 a gallon. Brutal numbers for inflation. Under Donald Trump, the debt held by the federal government has now officially surpassed 100% of GDP. By 2030, it'll shoot past its all-time record of World War II. Great work there, Donald. Trump's draconian cuts to healthcare, education, and foreign aid, the chainsaw that was Doge destroying the federal government and destroying critical programs. It was rationalized that it would balance the budget, as Steve Ratner explains.
Take a look at charts like Ratner, where chart geeks here at the Midas Touch, thanks to his tax cuts for the rich, The deficit is on track to hit almost 7% of GDP by 2036. Trump claimed his tariffs would bring about a golden age of American manufacturing. Yet since his reelection, we've lost 75,000 manufacturing jobs. Over the same period of time, former President Biden created 625,000 jobs. Donald Trump losing jobs, Biden massively creating manufacturing jobs. Now, the Trump regime clearly has its short traders out there. They seem to be working with Treasury Secretary Besant in order to try to short and manipulate the market for crude. That's why we've been talking a lot about crack spreads, the delta or difference between the price of crude and the refinery price.
But the crack spreads are increasing. The price of crude is increasing. The price of the pump is dramatically increasing. And the attempts to short ain't working like they used to. You take a look at the 30-year fixed rate mortgage, 6.85%. That'll be over 7% in no time. But Donald Trump made a lot of money. Compare the amount of money Donald Trump's made in the past year and a half personally made $4.2 billion. It's not even close to any former president. No one even is in the realm. It won't even register on a graph what other president. No one did what he did. He's a crook. He's corrupt. He's a criminal. Literally, he's actually a felon.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:00–10:02
2
How is Trump's Iran escalation driving oil prices and gas costs higher?
10:02–10:37
3
What recent economic metrics show the market fallout from war and tariffs?
10:37–12:42
4
How are Trump's tax cuts and debt trajectory affecting the federal deficit?
12:42–23:45
Speakers
7 identifiedMore from The MeidasTouch Podcast
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Iran Strikes Again as War Escalates and BRICS Pushes Back