Armstrong & Getty On Demand – Episode Summary

Title: I Went To The Vending Machine To Get My Avocado & It Was $47
Release Date: March 4, 2025
Host/Authors: Jack Armstrong & Joe Getty
Produced By: iHeartPodcasts

1. Introduction

In this episode of Armstrong & Getty On Demand, hosts Jack Armstrong and Joe Getty delve deep into the economic and political ramifications of recent tariffs announced by President Trump. Titled "I Went To The Vending Machine To Get My Avocado & It Was $47," the episode intertwines serious economic discourse with lighter personal anecdotes, providing listeners with a comprehensive analysis of current events.

2. The Tariff Announcement and Immediate Reactions

The episode kicks off shortly after President Trump's announcement of imposing new tariffs on imports from Canada, Mexico, and China. Joe Getty immediately personalizes the impact by sharing a relatable anecdote:

Joe Getty [03:32]: "First of all, I just went to the vending machine to get an avocado like I do every day on the show. $47 for an avocado because of the tariffs they did last night."

This startling price hike serves as a springboard for a broader discussion on how tariffs are expected to inflate consumer prices across various sectors.

3. Economic Implications of the Tariffs

The hosts explore the multifaceted impacts of these tariffs on the American economy. They discuss how tariffs can lead to increased costs for consumers, as manufacturers pass these expenses down the supply chain. Joe Getty emphasizes the uncertainty tariffs introduce into the economy:

Joe Getty [04:12]: "You can't draw any conclusions in one day or one hour of stock market reactions. You just can't."

Ryan Seacrest adds to this by highlighting the historical volatility associated with such economic policies:

Ryan Seacrest [04:21]: "The Trump stock plunge... had completely turned around by noon the next day."

This underscores the volatility and unpredictability tariffs inject into the market, making it challenging for both consumers and investors to navigate.

4. Detailed Analysis of Tariff Effects

Ryan Seacrest provides an in-depth analysis, referencing studies from the Wall Street Journal and Moody's, to explain how tariffs affect different products variably:

Ryan Seacrest [16:09]: "A 10% tariff on shoes from China would raise their sticker price 4%, probably wine or olive from Italy would raise it about 10%."

He elaborates on factors like currency fluctuations, availability of alternatives, and pricing strategies that influence the "pass-through" rate—how much of the tariff cost is transferred to consumers.

For example, a 10% tariff on Italian wine might result in only a 0.3% overall increase in U.S. wine prices, while game consoles from China could see significant price hikes due to their limited market competition.

5. Political Ramifications and Global Reactions

The discussion shifts to the political landscape, particularly focusing on the reactions from international leaders. Joe Getty comments on the potential backlash from Canada and Mexico:

Joe Getty [08:58]: "The president of Mexico has said that there will be retaliation from Mexico... Justin Trudeau is probably... handling it."

Ryan Seacrest critiques Trump's diplomatic approach, suggesting that his rhetoric may be backfiring and fueling Canadian patriotism:

Ryan Seacrest [09:14]: "Trump is undermining ... Canadian patriotism and really, really hurt the conservative guy Poliev..."

This segment highlights the delicate balance between enforcing tariffs and maintaining positive international relations, suggesting that aggressive stances may provoke unintended consequences.

6. Broader Economic Concerns

The hosts express concerns about the broader economic strategy, questioning the sustainability and effectiveness of Trump's tariff policies:

Ryan Seacrest [22:42]: "Tariffs can bring good-paying jobs back... They protect critical industries here at home."

However, Joe Getty remains skeptical about the long-term success of these measures:

Joe Getty [22:49]: "This is an enormous gamble by Republicans in the Trump administration. I just don't see it working out well. I hope I'm wrong."

They discuss potential retaliatory tariffs, especially concerning American exports, and the cascading effects these could have on various industries, including automotive and agriculture.

7. Market Reactions and Investor Sentiment

The episode delves into the immediate stock market reactions following the tariff announcements. Despite an initial drop:

Ryan Seacrest [28:48]: "The markets appear to have found a firm bottom."

Both hosts acknowledge the potential for recovery but emphasize the ongoing uncertainty:

Joe Getty [29:04]: "Markets and businesses are very rattled. I think this is an enormous gamble by Trump and I'm not sure he's gonna win at it, but we'll all find out together."

8. Personal Anecdotes and Lighter Topics

Interspersed with economic discussions, Armstrong and Getty engage in lighter conversations to balance the episode's tone. A notable segment honors Dolly Parton's late husband, highlighting her enduring legacy and the strength of their 60-year marriage:

Joe Getty [29:04]: "They met at the Wishy Washy Laundromat in Tennessee when she was 18... he said, 'I'm going to marry that girl. That's the day my life began.'"

They also touch upon philosophical reflections inspired by St. Teresa of Avila, emphasizing resilience and adaptability in the face of change:

Joe Getty [32:07]: "Don't ever be frightened. Don't ever be disturbed. Everything is changing."

9. Current Events and Polling Insights

The hosts briefly discuss the shutdown of Skype after two decades, lamenting its absence in the tech landscape. Additionally, they analyze recent polling data on the Russia-Ukraine conflict, revealing American public sentiment:

Joe Getty [35:25]: "52% support Ukraine, 4% support Russia, and 44% prefer neither."

They critique the disparity between mainstream polling and social media sentiments, where a significant portion inaccurately supports Russia:

Ryan Seacrest [45:03]: "37% of social media says up with Russia."

10. Concluding Thoughts

As the episode draws to a close, Armstrong and Getty reflect on the inherent uncertainties introduced by the tariffs and the broader economic policies. They stress the importance of understanding the nuanced effects of such policies and remaining vigilant about their long-term implications.

Key Quotes with Timestamps

• Joe Getty [03:32]: "First of all, I just went to the vending machine to get an avocado like I do every day on the show. $47 for an avocado because of the tariffs they did last night."

• Joe Getty [04:12]: "You can't draw any conclusions in one day or one hour of stock market reactions. You just can't."

• Ryan Seacrest [16:09]: "A 10% tariff on shoes from China would raise their sticker price 4%, probably wine or olive from Italy would raise it about 10%."

• Ryan Seacrest [28:48]: "The markets appear to have found a firm bottom."

• Joe Getty [35:25]: "52% support Ukraine, 4% support Russia, and 44% prefer neither."

Conclusion

This episode of Armstrong & Getty On Demand offers a thorough examination of the immediate and potential long-term effects of President Trump's tariff policies. Through a blend of economic analysis, political commentary, and personal storytelling, Jack Armstrong and Joe Getty provide listeners with a nuanced understanding of how these developments might shape the American economy and its global standing. Whether you're an avid follower of economic policies or seeking balanced perspectives on current events, this episode delivers insightful content that resonates with a wide audience.