The MeidasTouch Podcast

Episode: Rep. Boyle Exposes Trump’s Economic Disaster
Date: December 14, 2025
Host: MeidasTouch Network (Ben, Brett & Jordy Meiselas)
Guest: Rep. Brendan Boyle (Ranking Democrat, House Budget Committee)

Episode Overview

In this episode, the MeidasTouch brothers sit down with Rep. Brendan Boyle to dissect the current economic challenges facing the United States under Donald Trump's renewed presidency. The discussion centers on Federal Reserve Chair Jerome Powell's frank economic assessment, the realities of "stagflation," misinformation about economic indicators, and the consequences of Trump's economic policies. Boyle brings an insider’s clarity on why average Americans feel the squeeze despite political rhetoric and exposes the con at the heart of Trump’s economic claims.

Key Discussion Points & Insights

1. Chairman Powell’s Candid Economic Assessment

• Jay Powell’s Refreshing Honesty:
  The episode opens with the brothers reacting to Federal Reserve Chair Jerome Powell’s clear-eyed statement on the economy, an antidote to political spin often heard from Trump administration officials.

  • Quote (Rep. Boyle, 08:53):

    "It's just so nice to finally hear someone from this federal government speaking openly and honestly and just telling you when two plus two equals four, that it equals four and not 400,000."

• Powell’s Key Insights:

  • Labor Market & Inflation: Powell underscores that having a strong labor market for a sustained period historically uplifts lower-income Americans, but warns about the current risk of stagflation.
    • Powell (03:07):

      “…Having a strong labor market for a long period of time is really, really good. From a social standpoint, it's helping lower income levels and that's what we all want to get back to. But we got to, we got to have price stability and we got to have, you know, full employment, maximum employment.”

  • Housing Market Realities: Declining interest rates alone won’t fix affordability due to structural supply shortages.
    • Powell (04:25):

      “…I don't know that a 25 basis point decline in the federal funds rate is going to make much of a difference for people. Housing supply is low. Many people have very, very low rate mortgages... So housing is going to be, you know, a problem. And… we don't really have the tools to address… a structural housing shortage.”

  • Inflation ‘Tilted to the Upside’, Employment Risks:
    • Powell (05:31):

      “In the near term, risks to inflation are tilted to the upside and risks to employment to the downside. A challenging situation. There is no risk free path...”

2. Stagflation: The Economic Crisis of Today

• Powell’s Stark Facts:
  Rising inflation coincides with declining job growth—classic stagflation, not seen since the late 1970s.

  • Powell (06:20):

    “Gradual cooling in the labor market has continued. Unemployment is now up... Payroll jobs averaging 40,000 per month since April. We think there's an overstatement… so that would be negative 20,000 per month.”

• Rep. Boyle’s Perspective:
  Boyle, on the Budget Committee, echoes that these trends are a real crisis for working Americans.

  • Boyle (09:22):

    “We have an environment in which we are suffering job losses as well as high inflation. That is the textbook definition of stagflation. Something we haven't seen since the Jimmy Carter era... People are suffering. And no matter how much Donald Trump and his minions want to lie about it, he's not going to be able to convince them of something that is contrary to their lived experience.”

3. Debunking Trump’s Economic Claims

• Manipulating the Narrative:
  The podcast highlights Trump’s misleading statements about economic performance, including his supposed “A++” handling of the economy and exaggeration of tariff revenues.

  • Trump (07:34):

    “We had the greatest economy in history in my first term... prices were the highest they ever were inflation was the highest in 48 years, or I think ever… but I think it was the highest inflation we've ever had.”

  • Host Ben (14:04):

    “He’s always talking about, I brought in 17 trillion and just 22 trillions coming. And so I'm going to make you rich. Just you wait. It's right around the corner.”

• Boyle Calls Out the Fraud:

  • Boyle (14:58):

    “He was able to con people into thinking he was a successful businessman. He wasn’t… his whole persona was a con. It was all built around that dopey TV show for so many years. And then he was able to run around the country last year and said, you vote for me, I will lower prices on day one. Bullshit. Here he is now, he's been president for almost a year. Prices are higher today than they were a year ago.”

  • On Tariff Revenue Lies:

    • Boyle (15:56):

      “The entire federal budget for this year is just over $6 trillion. So the idea that in a few months... his tariffs have collected 17, $18 trillion is such a crazy, crazy lie. It's like, what if I told you with a straight face, you know, my height, I'm 11 foot 6.”

4. Trump’s Crony Capitalism & the Billionaire Class

• Stock Market Disconnect:
  The brothers and Boyle discuss how stock market gains benefit only a wealthy minority, with recent increases primarily driven by AI and tech—further bolstered by Trump policies like easing chip exports to China, possibly risking national security for billionaire profits.

  • Ben (11:51):

    “…the only indicator that you could say is doing well is the stock market, which has gone up, although most Americans aren’t invested in the market. What’s propping up the stock market? Mostly AI…”

  • Boyle (12:18):

    “He's not a true capitalist, he's a crony capitalist. As long as he does well, as long as he gets his payoffs, as long as his buddies get their payoffs, then he's perfectly fine with it.”

  • Billionaire Tax Cuts at the Expense of Working Americans:

    • Boyle (13:09):

      “…the biggest tax breaks for billionaires in American history, paid for by the biggest cuts to health care in American history. Why again, did he do this? Because… it's the billionaire class that benefits.”

5. Trump’s Business Failure Pattern and Personal Mythmaking

• Casino Anecdote and Economic Policy Parallels:
  Trump’s economic approach is likened to his failed casino ventures—over-leveraged, cannibalizing competition, and ultimately self-destructive.

  • Boyle (17:54):

    “I remember… he would come on the local news doing his whole shtick, the biggest, the greatest, the most gold ever, yada, yada. And then so many of those casinos went belly up... None of that existed when he owned those casinos in Atlantic City in the 1980s. That's how bad he is at business.”

  • Ben (18:42):

    “…he built three casinos right next to each other, over leveraged the crap out of it, had them all compete with each other. Then he couldn't pay back the lenders. And everybody was saying, why are you building three casinos? They're all going to cannibalize each other. ...If you ever wanted to have a hypothetical, what would happen if you have like a felon who bankrupted all these businesses in the Oval? What would that look like? Like, like, like this?”

Notable Quotes & Memorable Moments

• On Trump’s Economic Lies:

  • Host Ben (16:41):

    "Well, he's basically giving a version of I'm 11 foot 6. He's saying, I'm perfectly healthy. Never have my health results been better. I win every golf tournament. He is doing. He's doing all of the above."

  • Boyle (14:58):

    "I have to give Donald Trump credit. He's actually the greatest con man in American history."

• Refuting Trump-Era Statistics:

  • Boyle (09:22):

    "No matter how much Donald Trump and his minions want to lie about it, he's not going to be able to convince them of something that is contrary to their lived experience."

• On Billionaire-First Policy:

  • Boyle (13:09):

    "…it was the biggest tax breaks for billionaires in American history, paid for by the biggest cuts to health care in American history."

Timestamps for Important Segments

• [03:07] – Chair Powell explains importance of a sustained strong labor market
• [04:25] – Powell on the deep housing shortage and limits of interest rate policy
• [05:31] – Powell warns of upside inflation risk, downside employment risk
• [06:20] – Powell reveals the real (negative) job growth numbers
• [08:53] – Rep. Boyle begins his assessment, praises Powell’s honesty
• [09:22] – Boyle: “Textbook definition of stagflation... this is a real and growing problem”
• [12:18] – Boyle: Trump as crony capitalist, billionaire tax cuts
• [14:58] – Boyle: “Greatest con man in American history…”
• [17:54] – Boyle on Trump’s Atlantic City casino failures and their lessons for economic policy

Conclusion

This episode lays bare the contrast between official economic data, the lived experience of Americans, and Donald Trump’s narrative of economic strength. Federal Reserve Chair Powell’s sobering assessment provides the factual backdrop, while Rep. Boyle dissects the economic myths perpetuated by Trump and the real winners of his policies: the billionaire class. The MeidasTouch brothers’ signature humor and sharp commentary highlight the absurdity and danger of economic denialism in the nation’s highest office, making this a must-listen for those seeking both substance and style in political commentary.