David Pakman (31:35)
Well, I don't know why he's bringing up Joe Biden, but it is another day and another promise that is going to fall flat. This is not a small pivot. They are acting like, well, no, no, it's all still the same as we said, but it might just not be possible. Well, that's what we were saying all along. This is the collapse in real time of one of Donald Trump's most high profile promises. He would end the Russia, Ukraine war within 24 hours of winning in November. It was then pushed back. He would end the Russia, Ukraine war within 24 hours of being sworn in in January. And then it was, we would end it within 100 days of being sworn in, which is roughly where we're about to be. And now it's, we might give up. We might just not be able to do it. Now you might hear Marco Rubio and say, Marco Rubio is at least being a little more humble and honest, which is, it's possible that the two sides are so far apart we may not be able to solve it. To which I would say that's right. That's why Trump's bluster all along and criticisms of Joe Biden's handling and promises that within 24 hours of this or 24 hours of that, he was going to deal with it. That's why that should have been more criticized. At the time we were criticizing it. But the right, which now is going, no, listen, Rubio is being honest. It might just not be possible. Where were they then? Now, of course, this is the same Marco Rubio who Trump humiliated in 2016. He is now the guy put in the position of making the failure sound like a policy shift, but it's just a failure. It's a promise Trump made, which they are going to break. This administration isn't bringing peace, it is bringing abandonment. They're not going to stop the war. They're going to stop caring about it. They're going to say, we gave it the old college try. We simply can't do it. Now, the right is framing this as a great acknowledgment of the complexity of the world. Well, why did it take Trump nearly 80 years to learn that? And couldn't he have acknowledged that six months ago when he was making these outrageous promises? Now we simply have to accept it's a totally pragmatic shift. They may just not be ready to end the war. There's nothing we can do to force them to end it. That's right. That's exactly what we've been saying for a very long time. Elon Musk is facing serious allegations while he is Busy promoting meme coins and cutting federal jobs. His company, Tesla, is accused of manipulating odometers to prematurely end vehicle warranties. You know, when I see this stuff, I realize I got off that Tesla train not a second too soon. There's a new class action lawsuit and it says that Tesla vehicles are logging miles faster than they're driven. You might drive 100 miles and the odometer, which is completely digital, says, oh, you drove 110 miles, for example. The plaintiff, Nari Hinton, alleges that his Model Y is odometer is overestimating mileage by at least 15%. Why? The goal, he believes, is for the warranty to expire sooner, which in his case left him with a $10,000 repair bill. This is not a minor glitch. The lawsuit is suggesting that Tesla's odometers are factoring in energy consumption driving behavior instead of just measuring miles traveled. And if it detects certain behaviors, it will put more miles on the odometer. This is the allegation of the lawsuit. Now, if this is true, what Tesla might be doing is inflating mileage readings to avoid having to cover repairs by saying, oh, you've driven just a little bit too much here. Let's not forget that this comes on the heels of other controversies surrounding Elon Musk. Of course, the involvement with Doge, criticized for its lack of transparency and conflicts of interest and destructive actions. His promotion of cryptocurrencies like dogecoin, which some see as very sketchy speculative ventures. But if this is true, this is not just shady, this is textbook fraud. Misrepresenting mileage to dodge warranty obligations is not a loophole. It is deceiving customers for financial gain. And if a smaller auto shop did that, they would be raided and shut down like a diameter. Fraud is a serious thing. When it's Elon Musk, I don't know. We're going to have to wait and see. It may be flat out illegal if Tesla is using predictive software to manipulate odometer readings and then using those inflated numbers to avoid warranty claims that could violate consumer protection laws as well as automotive fraud statutes. So we're talking here about potential investigations from state attorneys general, the ftc, and even the class action liability that we're talking about. This doesn't seem to be a one off. Tesla has already been hit with lawsuits for faking driving ranges. Misleading on autopilot. And now possibly cooking the odometer raises a very obvious question. How many parts of the Tesla experience are real and how many are software illusions meant to protect the bottom line? Because Musk has built an empire on dodging accountability, labor violations, autopilot crashes, potentially odometer manipulation. And the strategy is the same. You deny everything. You post memes, fire people if you think it'll help, you cover it up and hope nobody notices. It's the tech bro playbook. We might call it. Rebrand fraud as innovation, slap a futuristic interface on it and then sell it to investors as disrupting an industry. Speeding up odometers to cheat warranties is not innovation. It's a 21st century lemon law scam. And this is the guy who's now helping Trump to streamline everything. If this is what Elon Musk's vision of efficiency is, rigging metrics and pretending it's innovative, God help us when he applies it to public services. Which of course he's doing right now. Hey, remember when Donald Trump promised economic greatness when he became president again? About that. Once again this week, the Dow had one of the worst single day drops of Trump's entire presidency. And the Dow Jones Industrial Average is now on track for the worst april performance since 1932. Not since 2008. Not since the dot com crash of the 90s. 1932 Great Depression. It's not just the Dow, the S&P 500 performance since Donald Trump's second inauguration. Also the worst of any president this far in going all the way back to 1928. No one has done it worse. Why is this happening? Because Trump took us. Forget about a hammer, not. Not a little mallet. Trump took a sledgehammer to trade policy, and now markets are calling it what it is, a complete failure. Wall street doesn't buy Trump's claim that the chaotic tariffs will bring everybody to the table. Corporate earnings are expected to tank because of the tariffs. Executives are openly warning that the economic damage is real and getting worse. And Trump is now floating the idea of firing Fed Chair Jerome Powell again. Because of course, that's what you want during a market panic. Fire the chair of the Federal Reserve. And even the usual safety nets are starting to collapse. When stocks tank normally, investors move into safe assets like government bonds, which brings up the price of the bonds. Bond prices are falling, too. The dollar is dropping. Gold is skyrocketing. The fear index VI is staying very high. And the kicker is that retail investor sentiment is the most negative it's been since that data started getting collected in 1987. I was only 30 years old back then. Eight straight weeks of the market is going to crash from. From regular investors. Now think back to 2016. In 2016, markets shot up after Trump's win. Wall street bet on tax cuts. Wall street bet on deregulation, which would help corporate profits, or so it was believed. Fast forward to today and it's very different. They got the cuts, but they got chaos. That's what that's. They got the cuts last time, and this time they're getting chaos. The trade wars and the political purges and the threats to the Fed and the uncertainty have wiped out the optimism. And investors are now seeing what I've been saying all along. Trump is an agent of chaos. Economies don't like chaos. One investment firm put it very succinctly. It's impossible to commit capital to an economy that is unstable and unknowable because of the policy structure. Translation. No one knows what the hell Trump is going to do. No one even knows what the next problem is going to be. So when Trump talks about a booming economy, remember that he's competing with Herbert Hoover for the worst April stock market history. And Hoover didn't even have troth Central. All right, Authoritarian regimes don't do well with markets. This is a historical reality. Markets like stability. They like the rule of law. They like independent institutions able to make the best decision with the data they have without political coercion. Trump has blown all of that up, especially the independence of the Federal Reserve. Markets aren't confused. They're saying, we don't trust this guy. And it's sort of, you know, that phrase, the beatings will continue until the morale improves. That seems to be Trump's approach here, and it's not working very well. Your mom wants you to call her and this Mother's Day, give her a call. But you can also consider giving her an Aura digital picture frame. Aura Frames was named the best digital photo frame by Wirecutter. I've gifted these to so many folks, including my mom. No matter where I am, if we're traveling, if my daughter does something absolutely brilliant on the playground, which happens all the time, I can take a picture or a video and upload it directly into my mom's Aura frame or whoever's. I can also share access. I shared it with my brother so he can upload pictures directly as well. Aura has a great deal for Mother's Day. My audience can save for a limited time on the perfect gift by going to aura frames.com and getting $35 off plus free shipping on their best selling Carver Mat frame. Go to Aura Frames Dotcom, use the code Packman that's a U R A frames.com use code PACMAN to get $35 off their bestselling Carver Mat Frames Frame. All right, it is time for Friday Feedback. The official audience email is info@david pakman.com but as you'll see, sometimes we will grab comments from substack or YouTube or Tik Tok or wherever it may be. We will start today with what are we starting with? We were starting with Facebook where Frank says the clown Pac man is arguing that they will be cutting Social Security benefits and at the same time arguing not to cut the cut the waste and fraud and abuse in the federal budget. News flash. If we don't eliminate the waste, fraud and abuse, there will be no money for Social Security. While Frank is very confused about how government works, of course, if you're talking about eliminating waste, fraud and abuse from within Social Security, I'm with you. They haven't yet demonstrated that when Trump says there's a 250-year-old on the list of Social Security recipients, they've not demonstrated that a supposed 250 year old is receiving any money. Social Security is based on its own trust fund. The money for the benefits comes from the trust fund. It is based on monies collected from the Social Security payroll deduction. Generically getting rid of waste, fraud and abuse which they remain unable to identify. Specifically, they found programs they don't like. They found claims like there's a ton of people 150 years old getting benefits but they've not proven it. Generically getting rid of waste, fraud and abuse if you could find it, wouldn't actually do anything because Social Security is a relatively closed system with its own trust fund. And Frank, not surprisingly, doesn't seem to understand how government works. Zahn wrote in on Facebook and said more gaslighting and lies. Please put a Republican on your show. Number one, I regularly do live streams on TikTok where all of the Republicans who want to come confront me can do it. They can tell me how I'm wrong about everything. They can question me. They can give me their views as to why what Trump is doing is awesome. So we do that. And then as far as Republican officials, they don't want to be on. We invite Republican officials to be on the show. They don't come on the show. So you should go and talk to them about appearing rather than me because we're we're ready, Sr. Snugs wrote on the subreddit. Has David done any interviews on other shows recently? I remember him promoting some for his book. Did he end up appearing? Yes. If you go to David pakman.com/press, you will find everything from my MSNBC editorial to my appearances with Don Lemon, Politics Girl, Chris Cuomo, Impact Theory, the Young Turks, Midas Touch, Brian Tyler Cohen, Tom Hartman, and on and on and on. OK so many, many of those interviews at David pakman.com/press for those who are interested. Candace wrote in on Spotify. You can leave comments on Spotify. Love the show, but isn't it factual that the Garcia case is that he did enter the country illegally and was granted a stay? I'm not sure if when you are referring to Trump as deporting US Citizens you're referring to Garcia and then wouldn't it be beneficial to explain how you are viewing him as a US Citizen? It sounds misleading. I love the show but but I'm seeking truth in reporting. I'm a firm believer in due process, feel it is being violated. But I want to call a spade a spade. Yeah, I've never once said that, that Garcia is a US Citizen. What I did say is that due process applies to people who are in the United States with a temporary protected status. It is not I who have been gaslighting. It is the right when they like to say things like these people aren't here legally. Well, actually they are here legally. They're just not here permanently. If you have a student visa, you're here legally, but it is not permanent status when the visa ends, when your schooling ends, you've got to go back or get a new a new type of visa or apply for different legal status. Similarly, if you're in the United States and you're seeking asylum or you have a stay or you have a court date, you are here legally. You don't have permanent legal status to stay indefinitely, but you are here legally. And that's the point. It doesn't matter whether Garcia is sympathetic. It doesn't matter whether he's a Maryland father or a Maryland mother or not. Not a parent at all. All that matters is is he entitled to due process under the Constitution? Did he get it? And the answer of course, is that he did not. Duty said on YouTube why do Americans have so much trouble understanding what a tariff is and who pays it? Because the party in power is gaslighting them about it. When Trump says we've taken in billions from China in tariffs, you've taken in none of it. The tariffs are paid by American companies and by American importers. The the reason Americans have trouble understanding it is many Americans have no clue how to think critically or look things up for themselves when they hear the dreaded I've done my own research. Yikes. You. I'd love to sit in front of a computer and see what that looks like. A lot of people don't know how to do their own research. And there is a party that is pushing tariff policy that no one in their right mind would favor if they understood how tariffs actually worked. So there's an incentive. There's motivated reasoning for a lot of these folks to say, it must be good because Trump's doing it. Well, Trump's doing it and he's lying to you about how it works. Ariadne Do Castello wrote in on YouTube and said, European here with advice. American citizens need to revolt right now. We've seen all this before and you guys are still hesitating. You know what's interesting about this is I've gotten emails over the last three months from some people who say, david, you're being too hyperbolic. Democracy is not at risk. Trump's not trying to be authoritarian. You're being hyperbolic. And then there's another group that writes in and says, david, why aren't you screaming on your show about the existential threat that what's going on right now presents? My goal is to thread the needle and find the truth. There are major reasons to be concerned, and we need to activate around them. Screaming and being hyperbolic isn't useful. Pretending it's going on, it also isn't useful. But I'm doing everything I can to. To as accurately as possible convey the scope of the threat as I see it. And I do think that the threat is such that Americans should be protesting in the streets. And many Americans have been protesting in the streets. Domenica says, as a Canadian, I fully support my government developing a strategy to significantly diversify our trading partners to the debtor, to the detriment of the US we can no longer count on them as a stable democratic ally. How could I tell her that she's wrong? It is to the detriment of the United States. But of course, the tariffs are on. The tariffs are off. The tariffs are because of fentanyl. The tariffs are because of fentanyl. The tariffs are because of the border situation. The tariffs are because they don't like Justin Trudeau's suits. It is outrageous to be operating in this way as a supposedly developed, wealthy Western nation. And even if all the tariffs went away permanently today, the damage of Trump making the US look like an unstable partner to any kind of agreement. It's going to take much longer to undo. It will probably take some other president to be perfectly frank. Rain Owens saying that like me, she is also naturalized. I'm also a Delta medallion level flier. She writes, I wrote to Delta to explain that I won't be flying this year for the reasons you stated. This is a reference to me saying I've been warned not to leave the country because I might have trouble when I come back as a naturalized citizen. Anyone out there who has similar airline status or an airline card needs to write to the airline and remind them that this is bad for business. The airlines have some influence. An interesting idea. And then Pamela on Substack on the same topic says we will not be traveling either. My husband is also a naturalized citizen for 60 years. But I am terrified, I'm even terrified to cross state borders. Yeah. So listen, I'll just be up front. I think the crossing of state borders for 99% of people is not an issue. Certainly if there is an issue with documentation, which is not the situation Pamela is talking about about there are states that are show us your paper states and that that could be a problem. But I'm hearing we got dozens of messages like this. I'm a naturalized citizen. I'm not leaving the country because I don't know what's going to happen when I come back in. I will admit I am, I am tentative. I am tentatively scheduled to leave the country briefly soon and I'm a little bit, as Trump would say, a little bit scared of what's going to happen on the way back in. But I will be making contact with an immigration attorney who will know exactly where I will be entering and will be available should anything happen, I guess is the way that I would say it. Info@david pakman.com if you have anything you would like to communicate with us, please remember to keep those reviews going for the book. The book was back on the bestseller list, which is very exciting. The book, of course, is the echo machine, available everywhere books are sold. We're approaching a thousand reviews on Amazon that would be beautiful to get to. You can also review on Barnes and Noble and Goodreads. And remember that if the clampdown comes, if for any reason they shut us down on YouTube or Facebook. It's happened before. The only place I own my data is our mailing list, which is on Substack. The only way I'll be able to get a hold of you and tell you what's going on. If the clampdown happens is to our newsletter subscribers. It's completely free. Go to david pakman.substack.com and sign up or email info@david pakman.com say, David, get me that newsletter and I will put you on there, sir or ma'am. All right, we'll see you on the bonus show and be back here Monday.