Chapter 1: What triggered Donald Trump's psychotic meltdown?
Donald Trump was having the worst meltdown of his entire life. Last night and throughout the day, he was posting messages like this, keep calm and tariff on. Then he posted an image of himself looking like the penguin holding an umbrella, saying President Trump will always put America first, American prosperity first. Then he posted whatever the hell this is right here.
I'm not even going to read it. But it's something about our country is the hottest and he loves tariffs and everything's so unfair and he just wants to whine all day. And then Donald Trump announced yesterday that he was going to impose new tariffs after the Supreme Court struck down his tariffs against the world. He's invoking Section 122 of the Trade Act of 1974.
He's invoking it unlawfully to now impose 10% tariffs on every single country in the world. After the Supreme Court struck down the tariffs he imposed under AIPA, he says, well, I'm going to do another section. Well, Section 122 would also be invoked unlawfully, as Brian Reilly explained. It only authorizes tariffs in the presence of a fundamental international payments problem.
And because the United States doesn't face such a payments problems, it cannot be legally used to impose new tariffs. Yet another unlawful mechanism by Donald Trump. Also, Donald Trump tried to impose or he did impose a revocation of the de minimis tariff exemption. So any of the products that you buy that are $800 or less are not subject to tariffs.
Not anymore, because Donald Trump wants to impose a tariff regime on that. So this is the way Donald Trump is trying to get back at the Supreme Court for striking down his tariffs against the world by invoking Section 122 and removing the exemption for de minimis tariffs. Really? This is your response to everything?
Oh, and by the way, that Section 122 10% tariffs, even though it's also unlawful, it expires by law after 150 days as well. And so while Donald Trump's doing all of that,
while he was humiliated by the supreme court for violating the law he also directs his fcc chair brendan carr to demand that network television institute a pledge america campaign the fcc has launched a pledge america campaign as we celebrate the country its 250th birthday Broadcasters are well suited to air patriotic pro-America programming in honor of the nation's historic milestone.
The effort can emphasize programming that promotes civic education, national pride, and our shared history. And he wants broadcasters to start each broadcast with the Star Spangled Banner or the Pledge of Allegiance. He wants them to run segments
that promotes civic education, inspiring local stories in American history, and to air music by some of America's most celebrated composers and provide daily Today in America History. Can y'all just be freaking normal here for a moment? What are you doing? You realize that Americans are psychologically tortured, living paycheck to paycheck if they're lucky enough to get a paycheck.
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Chapter 2: How are Trump's new tariffs being implemented unlawfully?
After the Supreme Court strikes down Donald Trump's tariffs against the world, he makes a social media post saying, as he posts photos of himself looking like the penguin from the Batman movie, he goes, it's my great honor to have just signed from the Oval Office a global 10% tariff on all countries, which will be effective almost immediately. Why would you do that?
other than cruel and unusually trying to punish the people. No wonder the Midas Touch Network boycott of Donald Trump's State of the Union continues to grow. We now have over 20 senators and members of Congress who are joining. By the way, Aaron Parnas will be joining Katie Fang and Joy Reed as our hosts. Just take a look at the list here. This list is going to be growing as well.
This boycott against the State of the Union will be massive. And it is such an honor at the Midas Touch Network that we are the ones who will be hosting it with MoveOn with all of you, the Midas Mighty. Do you see how close we are to 6 million subscribers here? Help us get to 6 million subscribers this weekend. You may think you're subscribed, but you may not actually be subscribed.
So please subscribe now. Now, I don't even want to play a lot of these clips from that disastrous press conference that Donald Trump held yesterday. after the Supreme Court struck down his tariffs under IEPA against the world. But he did say, even though the economy is really bad right now, don't you worry, next year is going to be our year.
Chapter 3: What is Section 122 of the Trade Act of 1974?
Just wait until next year. This is what a Ponzi schemer says. This is Ponzi scheme 101. Remember last year, he said, wait this year. This year, he's going to say, wait next year. The next year, he's going to say, wait next year. And then next year, he's going to go blame the Democrats or blame Biden or blame this one or blame that one.
Yesterday, we had, in addition to Donald Trump saying he was now going to impose 10% tariffs against the world, we had horrible economic data. The PCE, the core PCE and PCE inflation data, which really deals with the key inflation metrics impacting consumers, that rose to about 3% month over month. We're seeing the PCE climb. I think it's heading towards 4%, unfortunately.
because the effect of donald trump's tariffs against the world are now being felt and donald trump's disastrous economic policies are now being felt the pca came in hotter than expected in addition the gdp was significantly lower than expected Remember how all the Trump regime officials were like, we think we'll be 5% GDP by fourth quarter.
Remember Howard Lutnick's like, we own fourth quarter GDP. That's going to be our thing. And they were all like, yeah, it'll be 3.5%, 5%. What did Trump say recently? It may be 15% or something stupid like that. Well, it came in at about what, 1.4, 1.5, 1.4%, about half of what it was expected to do. And they want to blame it. Oh, well, that's just because the government shut down.
That's really what happened. No, it's because y'all have slowed down the economy with Donald Trump's disastrous economic plans. And the rest of the world is actually seeing significant more growth than the United States is. So what was Donald Trump doing yesterday? You know, again, at that disastrous press conference, as I said, he said, you'll see the results a year from now, right?
Play that clip again.
That's because of tariffs. And we're going to keep it going the same way. And you're going to start to see the results in a year from now when all those factories that are under construction right now, you see all the construction numbers are so good.
And then he said, I read paragraphs. I can read paragraphs very well. I'm a good reader. Here, play this clip right here.
I mean, I read the paragraphs. I read very well. Great comprehension. I read everything there is to read. And I said, we can't lose this case.
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Chapter 4: How does Trump's response to the Supreme Court ruling reflect his strategy?
And you got people over here like Kevin O'Leary, who was trying to sell out Canada in the early days of the Trump regime and probably still is. Here he is talking about how for the oligarchs, It's a bad day for them because now people want tariff refunds, he says. I'm getting squeezed, he says. They're squeezing me. Stop squeezing me, he says. Stop squeezing you. Play the clip right there.
Great to see you. So this has gotta be a pretty big day in your world. What has the reaction been?
It's not a great day for me. We were humming along nicely until this morning. Here's what's happening on the ground. I know you've been talking about the politics and the policy, but let's talk about a business making $100 million in sales. It might have paid out $5 million in the last 14 months on these tariffs.
and they're in my portfolio I got phone calls from our customers from our lenders because we board against our line of credit and from our shareholders that we reduce distributions on during this period waiting to settle on the tariffs they all want their money back now to be compliant what am I supposed to do I I don't even know what how this is going to get filed.
It's going to be with Treasury, not the IRS, I assume. So I'm going to try and get a meeting with staffers, best of staffers, when I get to the State of the Union next week to see if they can give me some guidance because my head's getting squeezed from the top and the bottom.
to be compliant and every business in america is going to this right now there are people that want their money back within the distribution shareholder and lender system and for me and i'll tell you right now the first to hear it i'm setting up a resource called wonder trust dot com hiring if not hundreds thousands of accountants and lawyers because i don't know how else to be compliant and i'm gonna use them with my companies were just
What else are we supposed to do? Because everybody wants their money back. And I wish, I don't know what the policy is going to be on that.
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Chapter 5: What is the significance of the 'Pledge America' campaign by the FCC?
It's not a great afternoon for me, to be honest with you.
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