Transcript
Ben Meiselas (0:01)
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Ben Meiselas (1:30)
All hell is breaking loose today as Donald Trump got very bad news. Bad economic data. Disastrous, one might say. Inflation is now spiking to 2.7% in May. That's worse than expected. Income is falling 0.4%, GDP is shrinking 0.5% in Q1, it was revised downward and consumer spending is dropping.1%. Donald Trump is freaking out. He held a whole press conference and I'll cover the press conference in a little bit. But he's been attacking Canada, lashing out at Canada this morning and saying all discussions with Canada are off. We are going to tariff the hell out of Canada. I'll show you that in a moment as well. And he's also telling the Ayatollah of Iran, I saved you from a very ugly and ignominious death you owe me. Stop saying that you beat us. That is a very mean thing. I'll go and show you his post. Meanwhile, Iran has fully pulled out of the IAEA cooperation deals and inspections as a result of these strikes against Iran, which we now know from US Intelligence, European intelligence and others were not as effective as the Trump regime had claim. Economist Justin Wolfers over at the University of Michigan, though says the following. It's quite rare for consumer spending to fall in inflation adjusted terms. It happened during COVID and during the financial crisis and it is happening now. Wolfers also points out that it seems he puts it as a question, but it seems that we're starting to see the first signs in official data of tariff fueled inflation and you can the inflation rising again with that bad report in May. Meanwhile, as you go to Donald Trump social media platform, you see things like this. This is I guess how the social media platform tries to earn revenue. But as you know, truth social and Trump media has been losing massive amounts of money. I think like last year lost like hundreds of millions of dollars, huge, huge losses on like $4 million in revenue. Trump's $150 trillion gift to America. As I look at this photo, I still don't know by his ears right there, but it's just grift after grift it seems in my opinion. Now Donald Trump posts the following about Ayatollah Ayatollah Khomeini, the leader of Iran. He goes, why would the so called supreme leader, he puts that in quotes, Ayatollah Ali Khamenei of the war torn country of Iran say so blatantly and foolishly that he won the war with Israel when he knows his statement is a lie? It is not so. As a man of great faith, he is not supposed to lie. His country was decimated. His three evil nuclear sites were obliterated. He puts that in caps. And I knew exactly where he was sheltered and would not let Israel or the US Armed forces, by far the greatest, most powerful in the world, terminate his life. I saved him from a very ugly and ignominious death. And he does not have to say thank you, President Trump. In fact, in the final act of war, I demanded that Israel bring back a very large group of planes which were heading directly to Tehran looking for a big day, perhaps the final knockout exclamation point. Tremendous damage would have ensued and many Iranians would have been killed. It was going to be the biggest attack of the war by far. During the last few days I was working on the possible removal of sanctions and other things which would have given a much better chance to Iran at a full, fast and complete victory. The sanctions are biting. But no, instead I get hit with a statement of anger, hatred and disgust and immediately dropped all work on sanction relief and more. Iran has to get back into the world order flow. What the hell in the world is he even talking about there? Then he says that he's ending all trade discussions with Canada and will be levying more tariffs against them in the next seven days. We have just been informed that Canada, a very difficult country to trade with, including the fact that they have changed our, they have charged our farmers as much as 400% tariffs for years on dairy products, has just announced that they are putting on digital services tax on our American technology companies, which is a direct and blatant attack on our country. They are obviously copying the European Union, which has done the same thing and is currently under discussion with us. Also based on this egregious tax, we are hereby terminating all discussions on trade with Canada effective immediately. We will let Canada know the tariff that they will be paying to do business with the United States of America within the next seven day period. Thank you for your attention to this matter. So it's not two weeks, it's a seven day period. All trade discussions are off with Canada. And do you see how he just treats Canada and the European Union like they are the enemies? And again, Donald Trump continues to make the US Less and less relevant with this taco routine. It's, it's a joke. It's a cloud. It's dangerous. And you see it's now impacting the economic data we have here. But you know from watching the Midas Touch network that the United States was basically sidelined during the NATO summit while Canada, while Canada entered into a very strong defense pact with the European Union, which also included very close economic coordination. So then you had this morning Treasury Secretary Scott Besson. We haven't seen him humiliate himself all that recently on Fox, but he's back. We see him humiliate himself every day. But here he goes back on Fox Fox. And Maria Bartirom asks, so what is the next country we should expect a trade deal with the United States? Who's going to do it? Are you going to get any deal done beyond just the UK before this August deadline? And by the way, note that she's now talking about an August deadline. Wasn't the deadline 90 days like July 9th? Okay, now it's an August deadline. It's Labor Day. These people are the most pathetic, worst negotiators and they just lie about everything. Remember, 90 deals in 90 days. Remember, everyone's going to get $5,000 doge checks because doge was going to be so great. Remember, you were promised a $5,000 doge check. Maybe we should file a class action against the Trump regime to give us those $5,000 doge checks that they promised. And then they said inflation would be down and there would be so many jobs you wouldn't know what to do with it. Anyway, here's Treasury Secretary Scott Besson. What is the next country we should expect a trade deal to do with the United States? Are you going to be able to get some deal announcements beyond just the UK before this August deadline, where we're going to hear from the Court of International Apparels?