Chapter 1: What is the main topic discussed in this episode?
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Donald Trump is having a meltdown after the Supreme Court struck down his tariffs against the world. Also, a horrible GDP readout for the fourth quarter and inflation is coming in hotter than expected. Donald Trump was holding a presser earlier this morning with governors who were at the White House. Donald Trump then sent the press out.
He kicked the press out during this press conference and said, you know, Bye-bye. Time to get out. As he continued to have this meltdown, let me show you what took place moments ago. Let's play this clip.
Well, thank you very much, everybody. Thank you very much. And I guess we're going to be asking the press to leave. That way we're going to talk very candidly, and take questions, I think, at the end. It wasn't supposed to be. I just said to Susie, what about questions? Sir, you can do whatever you want.
I don't know if she says that to other people that she's represented over the years, but thank you very much for being here. It's a great honor. And the media, thank you. You can leave now.
Are you considering a limited military strike to crash in one of the schools?
President Trump at breakfast with the governors.
You heard him there saying that he's going to deliver some remarks and then take questions from the room, not from the media, and then asking the media to leave.
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Chapter 2: What triggered Donald Trump's press conference meltdown?
Now, we know from people who were inside the room, Donald Trump then started cursing after kicking the press out. He said, these fucking courts. You know, I don't like to curse. I'm just giving you the receipts of what actually happened. These effing courts, these effing courts is what he said over and over again. CNN got the scoop there of what went down.
Let's just play this clip of what happened inside this governor's meeting in the White House after Donald Trump learned that the Supreme Court struck down his tariffs against the world. He was melting down. Apparently he was sweating. His face was red and he just started like cursing, almost like he was going to cry. I heard it was incredibly weird. CNN has the scoop as well.
Let's play this clip about this.
Yeah, Pamela, we still have no official reaction from the White House or President Trump. We are waiting. I am told that they are meeting, discussing how they are going to respond. But we have learned more about what happened in the room when President Trump was with those governors, and he learned of the Supreme Court decision. Apparently, the breakfast had been going well.
They were working together. And then President Trump became enraged. He started ranting about the decision, not only calling it a disgrace, but started attacking the courts, at one point saying, these effing courts, but using the actual language there. We know that President Trump does use expletives quite often when he is enraged in particular.
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Chapter 3: What did Trump say about the media during the press conference?
Now this of course comes as this tariff policy, this could not be a bigger decision for President Trump. This could not be a bigger loss for President Trump. Not only is so much of his economic agenda based on these tariffs, so much of his foreign policy is based on these tariffs. He has used these tariffs as leverage in almost every meeting that he has had around the world.
He has touted them as the most important part of the economic agenda. So clearly a huge loss, and he recognizes that today. Pamela? All right, Kristen Holm.
Now, earlier this morning, Donald Trump released the GDP data before it was officially released. It's, again, unlawful to leak that out. But Donald Trump posted this before the Supreme Court made the ruling, striking down his tariffs against the world. Trump posted, the Democrat shutdown cost the USA at least two points in GDP. That's why they are doing it. In many form, again, no shutdowns.
Also, lower interest rates. Too late, Powell is the worst. President D.J.T., again, ranting and raving like a lunatic this morning. And the Supreme Court said... You don't have the power under this 1977 law, IEPA, to impose tariffs against the world. That belongs to Congress. Article 1, Section 8, the power of taxation. It's the power of Congress.
And they did not in this statute called IEPA, which talks about emergency powers to regulate imports and exports. It doesn't even mention the word tariffs in IEPA.
They didn't give you this power to tariff the world by you declaring unilaterally that there's a drug war emergency against Canada and Mexico or that trade deficits, by the way, which are increasing right now since Donald Trump imposed tariffs against the world. Not decreasing, they're increasing, but saying that that constitutes an emergency and then you're going to say you can tariff the world.
The Supreme Court in a six to three decision said absolutely no way. Go and you could watch the full analysis that Michael Popock and I did the video we dropped on our YouTube channel before this. Oh, by the way, while I got you here, we are so close to six million subscribers. Can we hit six million subscribers today?
You may think you're subscribed to this YouTube channel, but you may not actually be subscribed. Double check. and hit subscribe right now. Also, let's talk about that GDP falling below expectations. Fourth quarter GDP below expectations came in at 1.4% versus the 3% expected, and Trump regime officials were telling us that it may even come in as high as 5%, but it came in at 1.4%.
Very, very disappointing indeed. Also, Inflation as measured by PCE, which is really a consumer index, consumer goods, and how inflation is affecting consumers came in hotter than expected, 2.9% versus 2.8%. And core PCE came in at 3% versus 2.9%, which was the expected. So now after this Supreme Court ruling,
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Chapter 4: What were the implications of the Supreme Court ruling on Trump's tariffs?
That's not what President Trump wants to see, is it?
Well, you know, the Democrat shutdown took about two percent off the number, according to the Council of Economic Advisers. So if you're really thinking about like what trajectory is the economy on right now, it's way north of three. And if you look at the average of the three quarters since President Trump took office,
you know, abstracting from the first quarter when it was, you know, mostly Joe Biden's quarter, then we're looking at growth of 3.2% on average over the year. And so I think if you add back in the government shutdown number, which will bounce back in the first quarter, I think you could say that Trump's economy is running pretty close at 3%.
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And Hassett tries to spin the hotter than expected inflation as saying, yeah, something about Joe Biden. Joe Biden's fault. Here, play this clip. Just I want to talk about inflation.
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