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David Pakman
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fortunately, Donald Trump's diplomatic trip to China is over. Very little diplomacy. Donald Trump publicly played like a fiddle by the Chinese President Xi. Trump publicly agreeing with Xi's description of America as a country in decline. And then made it even worse on Truth Social after talking about Chinese food and visibly struggling to get up the steps to Air Force One. The most globally embarrassing foreign trip for an American president in history, certainly in decades, that's for sure. Now meanwhile, here at home, Americans are getting crushed at the grocery store. And we're going to take a closer look today at the very manly beef beef as the guidepost of food affordability and Americana. And it doesn't look good. We're also going to look at a three time Trump voter who does a real mea culpa. This is not a I apologize if people were offended. It's I screwed up. This has been terrible for so many people. I regret it. I'm sorry. This is how you apologize. You know, we teach four year olds how to apologize and a lot of adults in MAGA don't know how to do it. And finally, one of Donald Trump's own economic allies accidentally destroys years of anti immigration rhetoric on live tv. We're going to look at all of it today, My friends. It is now more expensive than ever. Ever. It is the most expensive in history. Another record price for beef, the manly meal of the carnivores and so on and so forth. We were told that this was going to be a guidepost of proof as to the declining food prices under Donald Trump. And instead, beef prices have never been higher than they are today. You might say, oh well, how do they compare to last week? How do they compare to last year? How do they compare to when I was a kid? How do they compare to when after my swim meet I went out and got a burger? It is more expensive today than ever. The Kobe Letter, which tracks capital markets with a very detailed and interesting post on Twitter which says, quote, the average price of ground beef in the US is now up to a record 690 per pound. On a non seasonally adjusted basis, ground beef prices have exceeded $7 per pound for the first time in history. Prices have surged 77% since January of 2020, when they were 389 a pound. Furthermore, the average price of uncooked beef beef steaks is up to a record 1302 per pound, surging 70% since January of 2020. Ground beef prices have now doubled since 2013. Food inflation is running hotter than ever. Now, this is not a segment about carnivore versus vegan. It's just. That's just not what this is about. This isn't about whether the impossible burger is so good, whether or so bad. It's about the promises that were made and whether they were kept. You might like ketchup on your burger, maybe I don't. You might like aioli and maybe I don't. Or maybe you're a mustard gal or a sauerkraut kid. That's not the issue here. Let's not make this about burgers. This is about the promises. And, and why I believe this is so emotionally salient and relevant to the election that is forthcoming, is that when you think about people voting, and we learned this during the Biden administration, people can be shown abstract inflation charts or told inflation has popped from 2.8 to 3.8, which, by the way, it did. We just learned about that. When you go and you say, we're making burgers tonight, it's Taco Tuesday tonight we want meatballs. The family dinner is more expensive. You know it because you paid for it. Now, also relevant when we think about ground beef is we're not talking about filet mignon. We're not talking about a T bone or luxury steakhouse cuts. The there's this idea of ground beef as this cheap everyday protein and it's supposed to be affordable. If you're making the case that you're the affordability president and ground beef isn't affordable. And people remember, wait a second, you said inflation was coming down, doesn't that mean meat prices should also be down? People understand this. There's so much in American politics that is abstract. We promise to pay down the debt, but it went up instead. Okay, well, I don't really see that day to day in a way that confronts my checkbook every single time I go grocery shopping. If you go and buy a few things at the grocery store and you go, how is this $140? People really notice that. Now, on top of this, I told you earlier this week that we have a number of other concerning data points. If you look at credit card delinquency, people that are just late on credit card payments more than 90 days that's higher and higher and higher. You look at student loan delinquencies, those are up. And maybe most critically and importantly, you look at car loan delinquency people more than 90 days late on car loans, and you see that it is higher than ever. So this is very dangerous politically, because unlike the price of housing, which you might not really can listen, if you don't own a place, you might not confront the price of housing in a direct way when it comes to buying and selling properties, although you do indirectly pay for it through rent. Or if the stock market is up or down, you might not be directly confronting that if you don't own stocks or if you own only a little in a retirement account, that's far off in the distance. Groceries are unavoidable. And the promise which I believe we should hold them to is immediate relief. Voters were told the price of groceries will fall quickly, and instead we have many staples at a record high. And when you look at the history of sustained food inflation, it is not only destabilized economies. In the past, sustained food inflation has destabilized governments where it was not recoverable from an approval standpoint because of how directly it impacts daily life. If ground beef becomes too expensive psychologically, that becomes a sort of cultural tipping point that can really affect how people are ultimately going to vote in November. Now we have about, you know, three months, I guess, is where I would put it for the administration to try to fix some element of this. The idea is that the economic circumstances sort of at the middle of August is when it starts to directly affect voting, because people start getting close to those early ballots. And any relief that you see between August and Election Day might be too small to change people's minds. So we could look at beef prices. That would be one way to look at this. We could look at gas prices, we could look at electricity and oil prices. But there is basically, it's May 15th that we've got three months until August 15th, at which it is considered conventional wisdom that if the economy doesn't appear to be good, if people don't feel the economy is good, they're going to vote that way in November. Very dangerous for Republicans, very dangerous for Trump. But most importantly, it's almost quaint. But let's just hold people accountable for the promises that they made. And so far, the Trump administration is failing on those promises. Donald Trump is being accused of treason by some after he sided with President Xi against the United States of America. President Xi attacked the United States during what was supposedly A very friendly diplomatic meeting in China and said, the United States is a country in decline. It is an empire in decline. And Donald Trump agreed with him. And then realizing how politically radioactive it was to do that. Think of the imagery of Trump going to China and getting slapped around metaphorically. I don't think he slapped him around physically, metaphorically. By a foreign authoritarian. And then when the foreign authoritarian goes, america is in decline. You, as the President of the United States, like a dog, go, yes, yes, yes, yes. Trump realized how insane it is to side with a foreign authoritarian on foreign land, that the US Is in decline. That he then went on to Truth Social and tried to clean it up. And I've got to tell you, his cleanup attempt fails completely. Donald Trump posting. Now, understand this is a panic post. Quote, when President Xi very elegantly. What the f. When President Xi very elegantly referred to the United States as perhaps being a declining nation, he was referring to the tremendous damage we suffered during the four years of sleepy Joe Biden and under the administrative Biden administration. And on that score, he was 100% correct. Guys, that's not what she meant. Trump continues, Remember, this is under Biden, our country suffered immeasurably with open borders, high taxes, transgender for everybody, men and women's sports, dei, horrible trade deals, rampant crime, and much more. President Xi was not referring to the incredible rise that the United States has displayed to the world during the 16 spectacular months of the Trump administration, which includes all time high stock markets and 401ks, military victory and thriving relationship with Venezuela. The military decimation of Iran, to be continued, strongest military on earth by far, economic powerhouse again with a record $18 trillion being invested into the US by others. Best US job market in history, blah, blah, blah. In fact, Trump says, xi congratulated me on so many tremendous successes in such a short period of time. Two years ago, we were in fact a nation in decline. On that I fully agree with President Xi. But now the US Is the hottest nation anywhere in the world, and hopefully our relationship with China will be stronger and better than ever before. Guys, that's not what she meant, okay? A Chinese authoritarian leader insults the United States to Trump's face. Trump is too meek, feckless and timid to say anything about it. And then he runs to Truth Social and starts explaining why she is correct. It's true, we're declining, but not under me. It was under sleepy Joe Biden that we were declining. That is not what President Xi meant. And imagine for a second, close your eyes, take a deep Breath and envision Reagan agreeing with a Chinese president that the US Is in decline. Obama agreeing with a Chinese leader that the United States is in decline. Bush one, Bush two, Nixon, Biden. They would never publicly validate a Chinese leader that the United States is in decline. And Donald Trump does it because, number one, he probably doesn't really know how to contradict it other than going, no, no. And number two, Trump thinks he can spin it in his favor. She calls the United States a declining empire, to Trump's face. And Trump's response is, yes, but don't blame me. It's Biden's fault. He met a few years ago. And Trump desperately tries to reinterpret the whole thing after he and his staff realize that this is a disaster. This was not a compliment of Trump's leadership. This is an attack on Trump's leadership. And she is speaking in, you know, geopolitical terms, in historic terms. And Trump responds with DEI and other campaign slogans about men and women's sports and the stock market. It is so pathetically emasculating. And these are the people that tell us there are no stronger men than them. And it's embarrassing. As I watch this happen, it is truly a humiliation for the United States. Previous presidents, and I'm not talking about only Democrats, many previous presidents would have projected strength internationally, even during domestic problems. Trump personalizes everything. Do I look successful or not? He must have meant Biden, or at least that's what I'm going to try to say. And so when you read that Truth Social post that Trump wrote, it's like when you got kicked around at the playground, and then later you go, but they were actually really scared of me. Yeah, you couldn't tell, but they were really scared of me. That's what. That's what happened. And I hate to acknowledge it, but I'm not going to lie. She's got Trump over a barrel. She convinced Trump to allow Chinese nationals to buy American farmland, which would be terrible for farmers, but she convinced Trump. She insulted the United States to Trump's face, and Trump did nothing about it. And Trump praised an authoritarian and said, we're such good friends, and he's so cool and he's so dreamy. Trump is harsher towards our democratic allies, Canada, France, the UK than he is towards Putin and Xi and Kim Jong Un and Orban and the whole lot of them. It's embarrassing. And so the world has seen this trip, and they see Xi is walking away stronger, disciplined, strategic. And Trump sounds like someone trying to explain you know, the scoreboard said we lost, but we really didn't because it was backwards day. And when it said that we only had 24 points, we actually had 42 points. We really won, even though the scoreboard didn't say it. That's the pathetic and embarrassing position Trump ended up in. And the most important part is to now zoom out and to really evaluate the trip in its totality. And in its totality, it was really bad. Donald Trump got played like a fiddle by Chinese President Xi. And to add insult to injury, as he was finally leaving, this trip couldn't have ended a minute too soon. Donald Trump visibly struggling to get up the stairs to Air Force One. Sort of a emblematic representation of the entire trip. Trump's bizarre gait, gripping the handrail like his life depends on it, and finally making it up to the door of Air Force One. I believe Trump knows it was completely humiliating. I think there is even Trump, as self centered and egomaniacal as he is, I believe knows that this trip was a complete and total humiliation. Donald Trump was desperate for Xi's approval, and this is one of the most submissive and embarrassing ways a president can behave when they were walking through some gardens. The audio isn't great on this, but we're going to do what we can. Donald Trump asks the translator to ask Xi, does he bring other people here? Does he bring other prime ministers and presidents here? Or is it just me? Am I special to Xi or am I just like everybody else? Now understand that by this point of the trip, it had already gone completely bonkers. Trump globally laughed at for talking about Chinese food in the United States to President Xi. Xi convincing Donald Trump to open up farmland sales in the US To Chinese nationals screwing farmers again. It almost is beyond belief. And then Trump, in his infinite, infinite wisdom and strength, says, does he bring other people? And it looks like she sort of shakes his head, saying no. Who knows if it's true or not, but she knows how to manage Trump. I hate to admit it, but she knows how to manage Trump. So Trump just asked, does he bring other presidents and prime ministers here? The translator now asks. She and you'll see, she shake his head. Now she shakes his head and goes, no, no, no, no, no. I bet you say this to all the girls, don't you? I bet you tell all of them that this is globally embarrassing. And I really hope that you know, for me, I see strength differently than some of these maggots I do. For me, I see strength when I look at Barack Obama meet with Putin and speak directly, hold the line and be willing to publicly say, that's not something that we can do right now. We're not going to agree to that. That's a no, no, no, no, no. I'm not going to let you push me around. That, to me, is strength. Trump's bluster and then showing up all feckless and timid and subservient to these authoritarians. Putin said they didn't hack. I don't know. He was very strong when he said it. That's not strength. And when you see Trump desperate for approval, tell me I'm special. Tell me I'm not like all the other girls. That. That's. It's the movie trope that Trump is turning into his relationship dynamic with Xi. America's in decline, said Xi. But I'm so special because he brought me to his garden with the beautiful plants and trees, and he doesn't do that. You think he brings Mark Carney to the special garden? Oh, no. And the subservience is just incredible. Trump sitting with Xi. This was close to the end of this disastrous trip, and Trump just making no sense. You can tell Trump is just shell shocked by how he's been outmaneuvered and he just started glitching like he was. He was using words, but they weren't combining in any way. That makes sense.
Donald Trump
We settle, and the relationship is a very strong one. We've really done some wonderful things. I believe we did discuss Iran. We feel very similar. We want that to end. We don't want them to have a nuclear weapon. We want the Straits open. We're closing it down. They closed it and we closed it
David Pakman
on top of them. We want it open. We're closing it now. They closed it and we closed it on top of them. What?
Donald Trump
But we want the streets open and we want them to get it ended because it's a crazy thing. They're a little bit crazy, and it's no good. Can't happen. They cannot have a nuclear weapon.
David Pakman
But we, you know, I am, as a generic principle. I consider myself antiwar, and I see myself as some. As someone who prefers to get along with other countries. I think humanity benefits as a general principle when we get along with other countries. I do. But I also am realistic. And one of the things that I understand, and I know many of you understand, but Donald Trump and a lot of the people around him don't seem to understand is that just because a meeting looks friendly and Trump gets there and they lay out the red carpet, literally, and Figuratively for Donald Trump. And they've got kids jumping and clapping for Trump and they serve him, you know, I guess there was lobster soup served and tiramisu and they a nice dinner for Trump and all of it. That doesn't mean that it's a friendly meeting. And she and other authoritarians understand this. She now has a decade of watching Trump get played like a fiddle by Putin and even by Kim Jong Un and others. And it's lovely to say, let's all get along. Do you what, David? Do you want to be fighting with China? Do you want to be fighting with Russia? No, I don't. But Trump isn't even remotely equipped to deal with the skill of people like Xi and Putin. Now, I'm not praising them in the sense that I don't respect authoritarianism, I don't respect theocracy when it comes to Iran. These are not the systems of government that I respect and I think are good. But I have to also be honest that Putin and Xi are much smarter than Trump, much more skilled than Trump at this sort of thing. And she made it very clear, we will go to war with the United States. If you try anything with Taiwan that we don't like, we are going to start buying farmland in the United States. And in fact, they already have. But then Trump supposedly wasn't going to allow it. Now he says he is. We'll get to that later. And he reduced Trump to a subservient, sputtering mess. It is embarrassing as an American citizen to see that this is how the President is conducting diplomacy, even though it's not really diplomatic around the world. And hopefully at some point soon we can go in a different direction. The right is doing everything, everything it can to save Trump. The right wing podcasters are dumping insane amounts of money to try to artificially grow their podcast so that they can come in and go, no, but don't believe your eyes and ears. What you saw is great. So today and over the weekend, we are really focused in on Apple Podcasts. If you have Apple music, Apple podcasts on your phone, on your computer, I have a really simple ask. Just follow the David Pakman show on Apple Podcasts and leave us a rating. That's the ask. That's it. It's 15 seconds. It costs nothing. And it helps us to displace these artificially propped up right wing shows. I'll tell you Monday where we are on the charts. I appreciate everybody who's been helping there. 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The link is in the description if you want to see what it looks like to see a full grown man completely debase himself, surrender and give everything up to foreign powers, look no further than Donald Trump's thankfully now completed trip to China. Donald Trump was interviewed by Sean Hannity. I guess Hannity flew with Trump on Air Force One and Hannity was doing some sort of a propaganda interview with Trump. And as we know, propaganda interviews with Trump that are total softballs often go wrong and Donald Trump makes horrible admissions and one of the issues is that Donald Trump indicates he's okay selling American farmland to Chinese nationals. Now you might Be saying, well, like, what's the big deal with that? Well, one of the elements of this, that's a big deal is that Donald Trump previously said, oh, no, no, no, we've got to stop Chinese nationals from buying farmland. We're not going to do that. That was years ago. But then Donald Trump goes to China for a few days, she just like, leads him around like a dog on a leash. And all of a sudden Trump goes, no, no, no. We, we've got to do, we've got to allow that. And I think Hannity realizes that Trump has no idea what he's doing. Take a listen to this.
Donald Trump
I would assume I'm in Beijing if I wanted to buy property near one of their military installations. I don't think President Xi wouldn't lie. I don't. Look, it's not that I love it. You want to see farm prices drop, you want to see farmers lose a lot of money, just take that out of the market. But they've had a lot of land for a long time. Obama did nothing about it. They bought a lot of it during the Obama administration. He did nothing about it.
David Pakman
As Trump is open to selling farmland to China, he continues to insist, someone's got to do something about this. Someone must do something about this. But the whole idea of Trump's economic nationalist policies like tariffs as he presented them, was to bring everything back to the United States. That's it. And, and one of the important distinctions here, because there's debate like, is Trump saying they can or they can't? The important thing is Trump previously said, we are banning them from buying farmland. And now Trump is immediately softening and going, listen, it's a controversial thing. We got to see. Maybe it's not ideal. We got some problems, but we might allow them to do it. That's a softening of his position. And it softened after he was pushed around dog walked by President Xi. Another example, Trump defending 50000 Chinese students in American universities, saying it would be insulting to China if we banned them. Now, I am, I. If you want to have a serious conversation about the influence of foreign investment and foreign nationals on the American university system, we can have that conversation. It's a complicated conversation. It involves a lot of different players, a lot of different countries. But this is a reversal from the previous. We've got all of these foreign students coming in and taking over the universities. And now, and remember, they love going, oh, you know, Asian students at Ivy Leagues and all of this different stuff. And now all of a sudden it's a meek Trump.
Donald Trump
It's 500,000 students. They come, good students. I could tell them I don't want any students. Is a very insulting thing to say to a country.
David Pakman
She would be very insulted.
Donald Trump
They would then immediately go out and start building universities all over China. But if you don't have those students, good students, by the way, if you don't, and we do another thing, you know, if they're good, they want to stay in America, we won't give them a green card and things like that, you know, and that not only them, but other, other countries, but if you want to see a university system die, take a half a million people out of it.
David Pakman
You know, I don't disagree in general with the principle here. One of the things I've talked about for a long time is a lot of these birth rate truthers, you know, the Elon Musk's and others who go, the birth rate is declining in the United States. People aren't having enough babies. They need to all have 12 kids like Elon Musk or whatever number he has. One of the things I've said to them is, you know, it doesn't really make sense that you guys are so concerned about a declining population and a low birth rate and you don't want more immigration. We probably need to triple high skilled legal immigration to the United States. If you have these sort of default neoclassical beliefs about economics that growth comes from population and China is one place, but there's all sorts of countries from which we should be saying we actually need to bring in more people. And usually they say no. The problem I have with this is that now Trump is going all flaccid on China because she got to him and she bamboozled him the same way that when he meets with Putin, Putin runs him up and down the stairs a million times, puts him in a hamster wheel and says run until I say stop. And it is so pathetic how easily Trump is swayed when he meets a, an authoritarian who rolls out the red carpet and sort of manipulates Trump, which is what these guys do now. The cognitive decline was also in full effect during this interview with Hannity. Trump trying to play coy with wordplay. Any time Trump does wordplay, it doesn't go particularly well anyway, they're defective.
Donald Trump
I came up with a new name. I don't know if I should. I know which one it is. Democrats. It's D. Um, I got rid of the B. So you're only changing one letter, right? He goes and the U comes. It's A number, you know, you take up more space in people's heads.
David Pakman
These are. These are the Democrats. Right. You only. You only change one letter, he becomes you, and then that's it. And then finally, Donald Trump, so impressed with President Xi. And this is sort of like the climax of the entire trip where he goes, he's just unbelievable, this guy. He's tall. He's even tall. His physical stature. This is what it's like when you just love dictators and you want to be one yourself at the end of
Donald Trump
the day about him. That if you went to Hollywood and you looked for a leader of China to play a role in a movie. Central casting, central casting, you wouldn't. You couldn't find a guy like him. Even his. His physical features, you know, he's tall, very tall. And especially for this country, because they tend to be a little bit shorter. You look at the military. I mean, the military today was incredible. That military marching was incredible.
David Pakman
Trump loves authoritarian displays of military power. We know.
Donald Trump
But no, if you went to Hollywood, you wouldn't find that. You're not going to find a guy to play the role. He's good. And he said, you know, I mean, I'll get criticized. They always criticize me when I say good things about certain leaders. But. And this one. But he's a leader for China. He's led almost 1.5 billion people for
David Pakman
a long time, and he's just so
Donald Trump
dreamy and he's respected. It's sort of interesting when the fake news said, he said, they'll say, President Trump said that President Xi was a brilliant leader.
David Pakman
Yeah. You know, the reason Trump gets criticized is that he favors autocracy over democracy. He's never impressed with how democratic leaders build consensus in their countries and win democratically. He's impressed with how people rule with an iron fist. He's impressed with how Lukashenko stays in power since 1994. He goes, he's amazing. It's amazing what he's doing. Trump is impressed by authoritarianism. He goes, it's amazing how he keeps these people in line. Yes. When people are terrified, then they stay in line. Now, it bears mentioning that it's only some authoritarians that Trump is impressed by. When it's Maduro or Castro, these more sort of like left authoritarian regimes, Trump's not so impressed. But they are really all cut from the same cloth. So another failure for the United States. But at least we can say thank God or thank the Chinese Communist Party or whatever you believe in. Thankfully, it's over. I'm Going to show you what a real apology looks like. I'm going to show you what it looks like to realize that you screwed up big and you screwed other people because of how you voted. A three time Trump voter called into C Span and said, I was really wrong, really wrong. And people are suffering. And this three time Trump voter breaks down, it's really a MAGA cultist leaving the cult. And he, he doesn't do, I'm sorry if someone was offended. He goes, I apologize to all of America. There is a lot to learn from
this Cleveland, Ohio Republican. You're on Open Forum.
Robert (Three-time Trump voter caller)
Well, I like to first say, I apologize to all of America and all of, of Americans. I was a die hard Republican. I cannot believe I drank the Kool Aid. Okay, I am guilty. I drank the Kool Aid of Donald J. Trump. In fact, I don't even know why we keep saying Donald J. Trump. This man is ruining the Constitution of the United States. What's going on in these Southern states? Louisiana and Virginia, South Carolina, Georgia, Alabama, they're taking away the vote from the black man, the fight from the black people that are part of our country. They're stealing their vote. They're making it null and mean nothing. And we need to, we need to. I don't know what we need to do, but I'm not going to vote for Donald Trump. I know that this country, if you see all the corruption, the billions of dollars that the Trump family is grabbing, and he says it's not never about the money, it's all about the money. The lies, the lies, the lies that come out of this man's mouth. Everything he says is not true is exactly what is true. And he's just, it's just, I don't know what needs to be done. But the Democrats need to grab the helm and lead the people. What we need to do, they are overwhelming the system of democracy.
David Pakman
Robert, when you said you drank the
Kool Aid, what was it about President
Trump that appealed to you initially? And what was it that made you break with him?
Robert (Three-time Trump voter caller)
I mean, just seeing the lies just. He put us in a war. The street. All Donald Trump wants right now is for Clean Face. He wants the Strait of Hormuz open. Guess what? Before he went there, it was open. And the gas prices were beautiful. I mean, everything.
David Pakman
Listen, I think you get it. I think this is a lot more than just one guy apologizing. It of course matters that this guy regrets voting for Trump. Cool. Step one. Step two. He's publicly admitting it. That's good. Number Three, he's actually apologizing. And not one of these, I apologize. If anyone was offended, I apologize. That alone is a level of self awareness and humility that is pretty rare in American politics. And especially when things are as polarized as they are today. You've got cults of personality around people like Donald Trump. He says, you know, the rally, the MAGA hat, all that stuff, drinking the Kool Aid. It's huge that he is delivering an unequivocal apology period. Great. Recognition is the first step. Most people never change politically. You first got to admit I was wrong about something and something important. Thank you for every. This is the important part. For every Republican voter willing to say stuff like this publicly, there are hundreds or thousands quietly thinking the exact same thing privately. But a lot of them are embarrassed. And they defended Trump to friends, to family, to coworkers. They might have cut people out of their lives over politics. And admitting that you've been conned is very painful to the psyche, especially if you've been in it 10 years. It's your identity, it's your personality. And so a lot of people stay trapped in these movements, cults or political movements, because they don't want to admit they were wrong. And that is the most humiliating thing they can imagine. Now, the next layer is okay. For every one of these guys, there's probably 100 or a thousand voters. There are also Republican elected officials having the same thoughts privately and publicly. They keep defending Donald Trump because they are afraid and because they're cowards. And there are Republican politicians out there that know Trump's dangerous. They know what he's doing is unconstitutional. They know that he's generating economic and political instability. He's destructive. But they know there could be consequences to saying it out loud, so they don't. And one of the reasons that authoritarian movements can seem resilient, at least for a period of time, is that fear does keep people aligned. And you go back to, you know, East Germany, you go back to the former Soviet Union, you look at North Korea now. Fear keeps people in line. One other important point, people changing their minds should be encouraged, and it should be welcomed. It shouldn't be mocked. I don't mock this guy. Otherwise nobody will admit that they got it wrong publicly. In addition to that, as I've said before, we don't forget everything that happened, and we don't ignore that it was possible to have predicted this, and tens of millions of people did predict it. I recently taped an episode of the Maury Povich podcast, and we talk about it. And Maury sort of asked me, isn't this like, we told you so stuff that's like patting yourself on the back. And it's not that. It's. Let's recognize that this was preventable so that we can try to prevent it the next time. If we insist they're sorry, but there's no way they could have known then it's just going to happen again. We need to remind them, hey, listen, you were convinced that you were right and eventually you realized you were wrong. A lot of us knew you were wrong. It's knowable.
James Comey
So.
David Pakman
So let's not fall for it again. This guy had the courage to say it. That should be admired, that should be encouraged. And let's remember that so many of these people were bamboozled so that we can prevent it from happening again. Think of how much personal information you put into your favorite AI chat bot. They track everything you say on the app, many of them sell the data to ad companies and they use your personal info to train the AI. So your personal life lives inside the chat bot forever. Creepy stuff. Which is why I recommend Venice. It's sort of like a VPN for AI. Our sponsor Venice gives you access to all the best and latest language models, Chat GPT, Claude, Gemini, Grok, Deep Seek, as well as leading image, video and music generation models all in one place. But you can use them privately and anonymously. And it's completely uncensored. On Venice, you can ask the AI for anything and it won't say no. Nothing is tied to your identity because your prompts are encrypted. They never even leave your device, so no corporation or government can spy on you. And those conversations access the world's leading AI models privately. You'll get 20% off any plan when you go to Venice. AI/Pacman and use the code Pacman. The link is in the description. There are a lot of VPN companies out there and almost all of them make the exact same promise. Trust us. Your data safe. Our sponsor, Private Internet access. You don't have to take their word for it because they've proven multiple times in court when authorities have asked for user logs. They don't have them. They don't have anything to hand over. Their software is open source. You do not have to trust anybody. You can verify for yourself. They have a no log policy, which really matters because the whole point of a VPN is to protect your privacy. Private Internet access hides your IP address, encrypts your connection, helps to protect your data when you're at home on on public wi fi traveling and it also lets you access content that might not be available in your region. Just a single private Internet access account you can use on unlimited devices with servers in 91 countries and all 50 states optimized for fast streaming and downloads. So you are not sacrificing performance for security or privacy. It's one of those things you turn on once and just forget about it. Get an exclusive 83% off that is just 203amonth plus 4 months free at PIA vpn.com/pacman the link is in the description A top Trumpian argument just collapsed in real time on CNBC when Donald Trump's economic adviser Kevin Hassett showed up and kind of admitted to the entire thing. This is one of my favorite clips clips of the week. The argument it's such a muddled argument that I'm going to give you like a one line explainer. We'll watch it and then I'll talk about it. The argument Kevin has it makes is that even if it seems like the job numbers suck, they don't really suck because since there are fewer undocumented immigrants coming in and getting jobs, the number of jobs the economy needs to create for unemployment not to go up is much smaller. Now you might be saying, huh? I know, I know. Let's listen to Kevin Hassett try to make the argument and then we'll talk about it.
Kevin Hassett
But the job summers right now have been blockbuster, you know, more than double expectation. And the break even job number is a lot lower than it used to be because we've tightened the border. And so 120, 130 this year here is sort of like two or three years ago, a 200 number because of the, you know, we don't have this massive inflow of immigrants that are working. And so these are really great job numbers. There's no sign in the data that is costing anybody a job right now. But we are studying the future of AI and what it means for the workforce. So we've got a big task force on that.
David Pakman
What he's arguing is that there's this concept of the break even jobs number. And what that means is you need some number of new jobs to, to prevent unemployment from rising because the population of the United States is going up. So if the population goes up in order to keep the unemployment rate steady, you've got to create some new jobs simply to maintain balance. And then beyond that you're actually creating net new jobs. There is the tiniest kernel of truth to what has said is saying, but it's very deceptive. The number of break even jobs probably has fallen a little bit compared to years past because it's true that immigration has slowed and the labor force is growing more slowly. So it is true that a lower payroll number today can represent a similarly tight labor market compared to a higher payroll number at some point in the past when the labor force was growing quickly. The thing is, this is not the flex, this is not the gotcha that Kevin Hassett believes it to be. Now, the general idea is plausible. Right in 2020-2023, we had more immigration and we had more labor force growth, which they normally say is a good thing, but in retrospect they have to say it was bad. And so you might believe, well, at that point in time, just to keep up with population growth, you needed somewhere between 150,000 and 200,000 jobs a month to avoid rising unemployment. Because more people are entering the labor force through a number of means now there's less immigration, the population is aging, people are leaving the labor force. So it's conceptually true, the number of break even jobs you need is probably lower. But he is wanting you to believe that that is objectively a good thing. And Kevin Hassett is arguing that therefore the jobs that are being created must be really good jobs. But that is not the case. A lower break even number might just mean there's fewer people entering the workforce, there's slower population growth for a variety of reasons which could be good or bad. And so the labor supply is tighter. But the big problem, and this is what he won't say, but he probably knows because he's not stupid, is that now that we have fewer immigrants, we have fewer jobs. I know that that contradicts what they've spent a really long time telling you because they were like, immigrants are taking your jobs. A lot of anti immigrant rhetoric relies on what's called the lump of labor fallacy, which is the false idea that an economy has a fixed number of jobs. There's only X jobs in this economy. If someone comes in from outside the country, they've simply taken a job from someone who was born in the United States. It's one to one, but that's not true because we are a little more sophisticated. Not a lot, but we're a little more sophisticated. We understand that immigrants aren't just workers. Yes, they work, but they also then consume with their wages. They rent or buy apartments, houses, they might start a business, they pay taxes, they are customers of other businesses. And so, yes, immigrants increase the labor supply by working, but they also increase demand for goods and services, which means that other companies need to hire more people. If I come in as an immigrant, I now have a job in the United States. But when I go and spend my wages at the supermarket in the aggregate now the supermarket goes, well, we can hire more people because we have more customers. It's called demand side stimulus. And so the more economically coherent position for someone like Kevin Hassett to take would be, hey, you know, when we have more immigration, it leads to more workers in the country, but it also creates more jobs. That's a good thing. And the problem that they're running up against is that when you have lower immigration, you have fewer workers, which they argue that's good because that leaves the jobs for the Americans, but there is less demand for those jobs because there are fewer consumers. And so he almost gets it here, here. But he leaves out the critical part, which is actually more immigrants would be better for the economy within a system that can handle more productivity, more production and more consumption, which right now the United States can. He almost gets it, but just not quite. Former FBI Director James Comey showed up on Ms. Now and wildly triggered Donald Trump in into another one of these demented spirals. And I think Comey is really interesting to listen to with the reminder that this is a lifelong Republican. This is not some far left bomb thrower who has picked a fight with Trump because he's far left. This is a guy who has been sort of mainstream, center right, totally basic, obvious Republican for his entire life. And he is accurately describing Donald Trump as something that infuriates Trump, which is an 80 year old man who is obsessed with him, which doesn't sound very alpha, does it?
James Comey
Well, now we're going to have to live with it. I'm going to have to live with it.
David Pakman
When he calls you a dirty cop, what is he talking about and how does that make you feel?
Robert (Three-time Trump voter caller)
I don't.
James Comey
Honestly, it's crazy that I'm in a place where I'm 65 years old and I actually find a little bit humorous to have this obsession by this 80 year old man with me. I don't know. And I am an honest person. I am a person who was raised to stand up and speak out. I can't do any other.
David Pakman
It is absolutely the case that what is, you know, what's interesting is it's sort of an offhanded comment. There's this 80 year old, I'm a 65 year old guy there's this 80 year old man obsessed with me. It's a very, it's almost a throwaway comment, but it does actually represent and embody so much of what is happening in terms of the indictments. And he's indicted again. And he's indicted again. It is that Trump is obsessed with him. Trump believes, or has come to believe, that the entire investigation into Trump's overlaps with Russia during the 2016 presidential campaign are bogus. And that James Comey is the villain, he's the perpetrator. And now he wants to make him the scapegoat. Now he wants to make him the person who is going to face consequences and he has become personally obsessed with doing that. And in fact, I think Comey gets it because when Nicole Wallace asks him, do you think that you're going to be indicted again? Comey goes, they'll probably find something else if this one falls apart. Yes. And I think Comey is absolutely spot on here that way.
You said this won't be the last. Do you think they're going to indict you again?
James Comey
Oh, I don't. Maybe, yeah. I mean, I think Donald Trump wakes up at three in the morning thinking about me. I do not. The vice reverse does not happen. But I'm sure that if this case falls apart, they'll come with something else. I'm going to have to deal with this. As I've told my family, they're going to have to deal with this as long as Donald Trump is in the White House thinking about me in the middle of the night.
David Pakman
Have you heard of other jurisdictions looking at trying to bring cases against you?
James Comey
I've read stuff in the media about it. I don't know where, whether it's accurate or not.
David Pakman
Notice the precision with which he says yes in the media, making it clear he doesn't know anything that isn't public here. I think it's very obvious that if this next case falls apart, if it, if it falls apart soon, that there's going to be another attempt. They are determined in the Trump administration, they, Trump has sicced his attack dogs on James Comey and he wants Comey to suffer. And unfortunately, and this is what kind of is a shame about our system, there's pros and cons to the system we have, simply having to defend yourself against high profile federal charges, even if you are completely innocent, can ruin your life and it can ruin you reputationally and it can ruin you financially. And the Trump administration knows that. The Justice Department knows that. They know. They don't need to get a conviction. They don't need to put him in jail. They don't even need to have a good case to really screw James Comey. And to be frank, I don't even know what sorts of financial resources James Comey has. If you Google, his net worth is supposedly like 14 million. That may be true, that may not be true, but you can run through millions of dollars in legal fees if you have the full force of the federal government against you. And they know that. And that's the tool that they use to ruin a lot of these people. Sort of a funny moment, Wallace was asked, do you know Todd Blanche? Todd Blanch is Trump's former lawyer who is now the acting attorney general who is leading this latest indictment. And Comey. So he says this in a funny way. He goes, he might have been a paralegal. And he realizes that Nicole Wallace thinks he's. He's sort of like, saying it as an insulting. In an insulting way. He's like, no, he was quite literally a paralegal. That's a perfectly fine thing to be
James Comey
with Donald Trump at the top.
David Pakman
Do you know Todd Blanche? Did you ever run in the same SDMY circles?
James Comey
I don't. I think he might have been a paralegal when I was the U.S. attorney there, but I don't. I don't know. Not saying not to be facetious.
David Pakman
No, no.
James Comey
Started out as a paralegal, which is an important role, but you don't have much to do with the U.S. attorney.
David Pakman
All right, so he's being serious. He was quite literally a paralegal when Comey was there. And then finally, James Comey's daughter was fired. She was a prosecutor in the Southern District of New York, and she was fired because her last name is Comey and for political reasons. And James Comey actually says that was a crime.
He believes you had other family members that are serving in the department. Your daughter and your son in law, right?
James Comey
My daughter was a superstar prosecutor in the Southern District of New York and was fired only because she has my last name.
Kevin Hassett
Name.
James Comey
That's stupid. That's immoral. That's illegal in my view, and painful. She'll be okay. I mean, she got a job at a law firm, and someday I hope she'll go back to the Department of Justice. My son in law, who was the deputy Chief of National security at that Virginia U.S. attorney's office, quit the day they first indicted me also. Just a tragedy to have that apolitical talent leave the department. God willing, he'll be back someday. But it both tells you the quality of the people who that this organization typically has and the cost with Donald Trump at the top.
David Pakman
You know, I for the most part, everybody I've met and I've never met James Comey, but everybody I've met, whether it's consultants, mayors, members of the House, members of the Senate, presidential candidates for current VPs and presidents, former VP Kamala Harris, for the most part I just see everybody as flawed people, as is everyone. There are areas where I agree with them, areas where I disagree with them. They mostly are trying to do the best. Although sometimes you meet people where you go, I don't know if that was the nicest person. That person seems sort of self serving. But there's sort of like this normal range. I've never met James Comey, but from every indication politically he's a Republican. I'm sure there would be a variety of issues on which we disagree, but he seems like a decent and honest individual. And to see Donald Trump now do what he is doing to Comey is not only sickening, but it's a reminder that Trump truly seems to be a horrible and disgusting individual. The David Pakman show is an audience supported program and the best, most direct way to support the show is by becoming a member. @join pacman.com you'll get the daily bonus show, the the daily commercial free show and plenty of other great membership perks. Get the full experience by signing up@join pacman.com what exactly are my political views? You know, AJ wrote in and said hi David, I'm fairly new to the show so I don't know if you've touched on this before, but I was wondering where on the left spectrum you fall. I know you've mentioned far left and center left, but where would you say you are on that spectrum? You know I'm going to answer this, but there's this funny thing related to this which is that for as long as I've been doing this show, every single day I either get a comment or an email that says, David, you've moved so far to the right. You used to be much further to the left and you've moved to the right. And every few years I'll take a couple of these political tests, the political compass test and the like seven scales, one that ranks your politics and they all indicate I have not moved to the right and usually have moved to the left. Now I'll tell you what I think is actually underlying those claims in a moment. But the way I if depending on who I'm talking to, I would say, listen, I'm. I'm a progressive in the broad general sense. And if people were to say, where are you between center left and far left? I think I would say I'm between the two. As a sort of Northern European social democrat, I'm not a socialist, I'm not a communist. I don't consider myself part of the far left. I consider my views just pretty mainstream. It's what you would expect in Denmark and Sweden and. And these sorts of places. Now. Why do I suspect that people go, you've moved to the right. I think that what that's about is that over the last decade or 12 years that I've been doing this, there have been more and more accelerationists, people who exist really only to argue that the left is not really left. And they often will say things like, we don't have a true left in this country until we really do away with capitalism, we will never really be on the left and all this sort of stuff. And I think that the fact that those people have gotten more attention, maybe as exposed or maybe illuminated is the right word. The fact that I'm not a socialist, I don't consider myself on the fringe left, where I want to destroy institutions and destroy the economy and like, rebuild it in some way. And I want to fix the problems we have with the models of Northern Europe, which makes me a social democrat. Kind of puts me between the center left and the furthest left. Those are my views, and those are my views. I don't know what else I would say about it. All right? Patrick wrote in and says, hey, David, or whoever else is reading this, I just want to let you know, on YouTube there is someone pretending to be you responding to comments and telling me to text them. All right? This happens all the time. People make YouTube accounts, and they do it on Spotify, they do it on Reddit. They put my face in the profile picture, and then they will write stuff like, hey, really interested in your insights on this. Can you contact me on WhatsApp? Can you contact me on Signal? Can you contact me on Telegram so we can chat more? And then it's a financial scam, okay? I love the audience. I do not have the time or wherewithal to be texting with individual audience members. So if you ever see someone saying, hey, love your comments, hit me up on WhatsApp and we can talk more. It's not me. It's not me. And when people learn that, they go, why aren't you doing more to stop it. We report every single one of the accounts that we see. We just have nothing to do with them and we can't. It's like whack a mole. We're like just bagging. Whack, whack. And then they just pop back up. Okay, I'm not trying to contact anybody. If you email info@david pakman.com that is the only official means of communication Aiden wrote in and said about new factory construction jobs Good evening David. Just want to put in my 2 cents regarding the claim Kevin Hassett made about new construction jobs for factories. If I add an anecdote I would mention my company is looking for 25 new drivers to work on the Micron factory construction in Syracuse hauling dirt and concrete to and fro. According to the has two Hassets worldview. These would be attributed to Donny Boy when in reality the only reason Micron is being built is because of the Chips and Science act passed into law by Sleepy Joe Brandon Insert Trump grunting
Donald Trump
Ah,
David Pakman
ladies and gentlemen, yes, last week when I addressed this issue of all of the construction jobs which don't exist, I should have also mentioned that many of the few new factories that are being built are actually thanks to the Chips and Science act and the infrastructure bill of the Biden administration. The few factories being built that Trump is taking credit for. Mostly we should be thanking Joe Biden for think about that. Bambino 714 all this guy does is post Obama or versions of it on Spotify, oh Nomna, etc.
Donald Trump
Obama.
David Pakman
There's really nothing to respond to here other than this is a lot. This is a lot. And I would love to know more about what's going on in Bambino's life that he just posts Obama on all my shows. All right. S Daga wrote on Reddit about the Michael Wolf interview, calling it David interrupted. Yes, Michael Wolf did interrupt me a lot. And he writes the Michael Wolff interview was ridiculous. Wolf is a blowhard in love with the sound of his own voice. Regardless of his personal politics, his present journalism is motivated by the same transactional self interest as Trump. He's got a bunch more Trump books in the wings before he's done the final days of King Trump, the end of Trumpism, America after Trump, the Trump Legacy, How I met Trump's mother, etc. Yet a lot of people did not like the Michael Wolf interview. I found him interesting, albeit a little bit unruly, but a lot of people wrote to me and said, david, he didn't treat you well. He treated you almost as poorly as Rahm Emanuel. Some people wrote in. Yikes. G.A. vANOS wrote on Facebook. If enough Democrats in red states would strategically register as Republicans, this could neutralize gerrymandering efforts. I don't think it would, but I don't totally understand what she means. But here's my take on this, and I've said this for a really long time. I believe that the way to win is, is to win appropriately, is offer policies that would be good for people, communicate those policies to people and motivate them to go and vote. These sort of like messing with I'm really on the left, but I'm going to register as a Republican and then vote in the primary. I don't believe that that's the way to win. Maybe obscurely in some instance, it could help, but I kind of don't think so. And I don't believe in winning in that way. If, you know, I'm, I'm an Independent and thus I'm not registered as a Democrat or as a Republican and I vote for the best candidate. And I it's just not my thing to go and say, here's how we're going to trick the system by all of us going and registering as Republicans. Greg wrote in on Spotify about the ballroom and said, my guess is the donors donated $150 million as forecast ball by Trump, but when the budget blew up, they withdrew their support. Now he's sitting on a pile of rubble with no funding to build his ballroom, which is why he is now demanding the taxpayers cover the bill. That's certainly a possibility. You know, it's, I think it's worse than that, though, because the budget went from 150 to 202 53, 400. And then now Trump's going, well, we need a billion in taxpayer money, but it's for security. It's not for the ballroom itself. And it'll also cover some other stuff. And I don't think it's as clean as he got the 150. But now he's got a problem because he knocked it down. That as little forethought as that implies, I think it still implies more forethought from Trump. I think they are panicked and scrambling and that's that. Ryder Kurtz wrote in and said, david, how can you talk about the Trump administration lying to you about his health when the Biden administration lied to us to a much greater extent? So two things. Number one, Biden is no longer the president. And I pointed out as soon as the truth about Biden's decline became clear that Biden should drop out of the race for reelection. And he did. And that, in a sense is a closed chapter. Yes, there was an effort to cover up the extent of Biden's decline. I don't believe that there were specific medical conditions that were being covered up. I mean, we still haven't learned of any. I know some say, well, the prostate cancer was covered. I have no reason to believe the prostate cancer was covered up. There was an effort to hide the decline. That was wrong. I believed Biden shouldn't have ever run again. Once it became clear he couldn't do it, I immediately said, he's going to have to get out. And he did. But Trump is president right now, so why would I still be talking about Biden now? Like it doesn't really make sense. I think that emails like this are coming from people who quite frankly just don't want anybody talking about Trump's obvious decline. So they go, hey, talk about Biden's decline instead. Well, Biden's gone now, so I don't know why I would keep talking about it. Trump's currently the president. Finally, friendly drummers said, what is the ballroom have to do with the assassination attempt? This makes zero sense to me. What is the angle? I know the bar is low for stupidity in their excuses, but. But there is no correlation. Let me explain to you the correlation. As soon as the White House Correspondents Dinner assassination attempt took place, they opportunistically said if we had the ballroom, we could have the Correspondents Dinner there and it would be much safer that it's opportunistic. It's also wrong because the ballroom is designed would only seat a thousand people and the White House Correspondents Dinner needs space for 2000 to 2500 people. So it is stupid. It makes no sense. But that's how they're trying to connect it. We've got a phenomenal bonus show for you today. Sign up, don't miss it@join pacman.com.
Title: The China trip did not go well, and it’s embarrassing
Date: May 15, 2026
Host: David Pakman
In this episode, David Pakman delivers a sharp critique of former President Donald Trump’s recent diplomatic trip to China, labeling it as a national embarrassment. The show covers Trump’s perceived subservience to President Xi Jinping, key economic indicators exposing broken campaign promises (especially soaring beef prices), the political impact of rising living costs, and a notable public apology from a former Trump supporter. The episode also features David’s commentary on anti-immigration rhetoric, Trump’s shifting stance under Xi’s influence, and the ongoing political persecution involving former FBI director James Comey.
Opening Critique:
[00:27] "Trump publicly agreeing with Xi's description of America as a country in decline. And then made it even worse on Truth Social after talking about Chinese food and visibly struggling to get up the steps to Air Force One. The most globally embarrassing foreign trip for an American president in history, certainly in decades." — David Pakman
Submissive Behavior & Symbolism:
Direct Quotes & Memorable Moments:
Xi’s Manipulation:
Impact:
Rising Food Prices:
Political Relevance:
Chinese Farmland Purchases:
On Chinese Students in the US:
David’s Response:
Comey’s Perspective:
Pakman’s Conclusion:
David Pakman’s tone throughout is sharply critical, direct, and often mocking of Trump's behavior. He employs vivid metaphors ("dog-walked," "bamboozled," "run up and down the stairs") and blends analytical breakdowns with biting humor. Callers and guests are treated with respect, especially those expressing regret and humility.
This episode positions Trump’s China trip as a national embarrassment, connecting it to broader failures on economic promises and exposing contradictions in anti-immigrant rhetoric. By weaving in real-world impacts, emotional voter regrets, and ongoing abuses of political power, Pakman crafts an episode highly critical of Trump, rooting his arguments in recent events, data, and listener testimonials.