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- [00:01]
Host
From unsolved mysteries to unexplained phenomena, from comedy gold to relationship fails, Amazon Music's got the most ad free top podcasts included with prime because the only thing that should interrupt your listening is. Well, nothing. Download the Amazon Music app today. This podcast is sponsored by Talkspace. Last year I went through many different life changes. I needed to take a pause and examine how I was feeling in the inside to better show up for the ones who need me to be my best version of myself. When you're navigating life's changes, Talkspace can help. Talkspace is the number one rated online therapy, bringing you professional support from licensed therapists and psychiatry providers that you can access anytime, anywhere. Living a busy life, navigating a long distance relationship, becoming a first stepfather, Talkspace made all of those journeys possible. I could speak with my therapist in the office. I could speak of my therapist in the comfort of my home. I was never alone. Talkspace works with most major insurers and most insured members have a $0 copay. No insurance, no problem. Now get $80 off your first month with promo code space80 when you go to talkspace.com match with a licensed therapist today at talkspace.com send save $80 with code space80@talkspace.com Weight Watchers now offers access
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- [01:51]
Host
$25@we watchers.com Donald Trump is having a disastrous Saturday morning. He is having a horrific meltdown before our eyes after losing the case in front of the Supreme Court where they struck down his tariffs against the world. As you may recall, yesterday Donald Trump posted that he would be imposing a new tariff regime of 10% tariffs against the entire world. He's invoking something called Section 122 of the 1974 Trade act, which I'll describe later in this video actually doesn't apply. It's another unlawful invocation of a law which is not being invoked properly to impose tariffs against the world. But this morning he now raised that to 15%. So within about a 12 hour period he went from having his meltdown over the Supreme Court ruling and saying, well Now I'm doing 10% tariffs against the world to now he says he's doing 15% tariffs against the world. Here's what he posted early this morning. He goes Based on a thorough, detailed and complete review of the ridiculous, poorly written and extraordinarily anti American decision on tariffs issued yesterday after many months of contemplation by the United States Supreme Court. Please let this statement serve to represent that I, as President of the United States of America, will be effectively immediately raising the 10% worldwide tariff on countries, many of which have been ripping the US off for decades without retribution until I came along to the fully allowed and legally tested 15% level. During the next short number of months, the Trump administration will determine and issue the new legally permissible tariffs which will continue our extraordinarily successful process of making America great again. Extraordinarily successful. Inflation is surging again. We got the new PCE report on Friday. Core PCE around 3%. We got the GDP numbers on Friday. GDP was a lousy 1.4%. Very bad GDP growth during Donald Trump's first year in office and you were promising 5, 10, 15% growth. Far worse. The economy is far worse right now and under former President Biden. And now you're putting 15% tariffs against the world, as this one account explains. It's really infuriating also that every journalist Since Trump's 2024 campaign has been incorrectly disgusting Trump's tariffs as though there's some economic policy. They're not. They're a primitive coping mechanism employed by a psychopathic toddler to soothe his pain when he feels fragile and wounded. There has never been a clearer example. The Supreme Court humiliated Trump by saying publicly that he doesn't have absolute power to do anything he wants. He felt wounded so he lashed out at SCOTUS to hurt them back by imposing a 10% tax on Americans. What the f are we talking about? Budget impacts? This or that? Donald Trump is just making this stuff up to soothe his ego and then he just raised those tariffs against the world to 15%. And again, I'll go, I'll explain to you shortly again why it's illegal. I just want to cover some other things with you as well, because now the United States Ambassador to the European Union is also threatening the EU if the European Union adds in its defense procurement directive a preference to buy and build European weapons over US Weapons. So after the Trump regime, JD Vance Marco Rubio has been attacking Europe. I mean quite physically attacking, quite literally attacking Europe, but saying you need to stop being dependent on the United States, you need to be more self reliant and Then Europe and the rest of the world goes bet. Okay, we'll do that. We will prefer European weapons over American weapons. We will prefer our own defense over the former kind of global security alliances, which, by the way, benefited the US Monetarily. Now this just happened. The European Union ambassador from the United States attacks the EU for preferring EU equipment over the United States in its defense directive. This was a statement that was just issued by the U.S. ambassador to the EU. The United States opposes any efforts to incorporate European preference in EU defense procurement directives. We fully support European rearmament and a revitalization revitalization of the European defense industrial base. However, European preference in the directive would undermine member member state flexibility to make national procurement purchases, hinder European rearmament efforts and create barriers for allies reaching NATO capability targets and run counter to European commitments in the 2025 US EU Joint Statement on Trade and Reciprocal Defense Procurement Agreements. Yeah, they don't want to buy from the US Anymore. Even if the US Weapons were technically better made based on the fact that Europe had not been really building out its industries the same way the US Was. Donald Trump's been talking about kill switches. He's been threatening to invade Greenland and NATO nations and saying Canada is the 51st state. Why would they want to prefer American weapons over eu? This is a natural consequence of Trump's attack on Europe and the rest of the world. This account puts it perfectly right here. So the country that checks notes threatened to invade European territory for a month, implied multiple times that it might not support militarily its NATO allies in case of invasion, launched a trade war specifically because it was unhappy Americans were buying European products rather than US Sabotage military contracts of European allies only to fail to deliver on its own promises. Has extensive legislation itself mandating US Administration by American is now complaining that Europe dares to prioritize its own industry to reduce its military reliance on a partner that has been less and less behaving like an ally and increasingly like a threat. Yeah, thanks for your input, United States, but we'll put it into our pocket reserve for the very important stuff. Or this account writes, the US Administration has spent the past year alternating between threatening to invade Denmark and bragging about selling us F35s with kill switches. Now finds itself shocked, shocked. I tell you that Europe no longer wants to spend tens of billions of dollars on US Weapons as the Trump regime threatens to retaliate against European countries. If the EU favors domestic weapons makers and a drive to rearm the continent, this is what you reap Trump regime. This is What I've been saying now on the Midas Touch network since the Trump regime started this, when they came into power, I've been saying, and this is what Justin Wolfers and I talk about all the time. You can't even look at a specific quarter gdp. Although it's bad when you look at a quarter GDP or when you look at some of the smaller data sets of quarterly information, the long term damage that Trump has done to the US the fact that US Treasuries are no longer even viewed as a safe haven, the fact that the dollar is so weak, I mean, the treasury yields are high. I mean, there is broader systemic change taking place. And the US Is being cut out of alliances across the world because we literally have a demented psychopath in the Oval covering up child sex trafficking and the biggest pedo ring in the history of the world. That's what's going on. Those are just what we like to call it. Midas Touch, the facts. And by the way, speaking about the facts, we're so close to 6 million subscribers, we may hit it this weekend. Hit, subscribe, help the Midas Touch Get 6 million subscribers. Make sure you subscribe right now. So while all of this is taking place, what was Donald Trump saying when we know that our economy is suffering? It's the oldest trick in the book from Ponzi schemers. Give me another year, give me another week, right? People who are victims of the Ponzi scheme eventually say, all right, I need to see the money it comes due, Let me have the money. And what does the Ponzi schemer say? I'm working on it, I'm working on it. I'm just gonna do this and this and this. I'm working on it. That's what Trump's doing because he's a Ponzi schemer. He's a fraud, he's a bankrupter, he's a sexual abuser, He's a demented, demented individual. Remember, here's what Donald Trump said yesterday when he was, he was speaking. Let's play this clip.
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Guest/Commentator
That's because of tariffs.
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Interviewee/Expert
And we're going to keep it going the same way. And you're going to start to see the results in a year from now when all those factories start that are under construction right now. You see all the construction numbers are so good.
- [11:21]
Host
But of course, he has his state, regime media, which tries to cover for him. So Jesse Waters says Trump's not a dictator. He's gonna follow what the court ordered. Have you been watching what he's been doing. Jesse, I know your state regime media here on the Midas touch. We talk about the facts, but I showed the facts, I shared the facts about what's actually happening. Donald Trump's not following the court order. He just did another unlawful tariff regime. That was his strategy. Let's play the clip.
- [11:51]
Guest/Commentator
I guess Trump's not a dictator anymore because the court ruled against him and he's gonna do what they say. Carney in Canada, he doesn't have this issue. Ursula at the EU can hit us with tariffs and nothing stops her. Mexico can hit back fast. China can. They dump and tariff all day long, but the United States has to just sit there and take it. The president can't hit back fast. He has to guess which law to use. And if he retaliates too hard against Vietnam or Switzerland, these countries can hold firm because the court might strike them down.
- [12:25]
Host
More from Jesse Waters right here. And he's like, look, the Democrats, they just fell into a massive trap because now Trump will issue refund checks and he'll put his name on it before the midterms, and everyone's gonna get Trump tariff refund checks. Play this clip of Jesse Waters.
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Guest/Commentator
Democrats don't even know it yet, but they just walked into a pretty big trap. Newsom saying Americans should get a tariff ref refund.
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Interviewee/Expert
Donald Trump should return that money immediately. He has an obligation, $1751 per family that were taxed by Donald Trump. He took hundreds of billions of dollars from working folks, from the ag community, from small businesses for this vanity play, this illegal action, and he finally was held to account. The rule of law won out.
- [13:16]
Guest/Commentator
Tariff stimmy checks with Trump's name on it right before the midterms. I'm into it.
- [13:20]
Host
Yeah. They're not giving refund checks, Jesse. Quite the contrary. They're going to take more because y' all are the Epstein class. Y' all are predators. And that's what predators do. I had the opportunity to speak to California Governor Gavin Newsom about the Trump's response in reaction to their massive loss before the Supreme Court. Go back and watch that full interview. We talk about his book as well. Young Men in a Hurry. And we get into real personal stuff about Newsom's life. You know, that I thought was very fascinating to me. But here's what he told me. Here, play this clip. Right? And you immediately demanded those refunds be issued right away. Donald Trump, Treasury Secretary Scott Bessant. They said, we're going to try to hold up American businesses and the people in litigation. We're going to be fighting. This is what they, they said this Supreme Court ruling is ambiguous and confusing and they said years of litigation. What's your response to that again?
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Interviewee/Expert
I mean it's the last stop. Sorry guys. I mean we've all, I've suffered many times on the other side of Supreme Court ruling. So there is no higher ruling. There's no board of peace here. You can't re establish with a billion dollar tithing with 27 of your friends from overseas and create a new Supreme Court. So it's time this guy start to understand that he cannot operate as an imperial president, that he is subject to to the rule of law co equal branches of government. The only branch of government that seems to be marginally operating Supreme Court, I say with an asterisk but today they seem to operate are the courts.
- [14:53]
Host
Now as I said at the outset of this video, I was going to share with you what Trump is claiming that he's invoking in order to do his new tariffs against the world. It's called the Trade act of 1974, Section 122. When you look at it, you can only impose these tariffs against the world up to 15% for 150 days. But here's what it specifically says. It says there are authorized to be appropriate annually such sums as may be necessary, blah blah, blah, blah blah. Balance of payments Whenever fundamental international payment problems require special import measures to restrict imports. One, to deal with large and serious United States balance of payment deficits to prevent an imminent and significant depreciation of the dollar. Three, cooperate with other countries in correcting an international balance of payments disequilibrium. The president shall proclaim for a period not exceeding 150 days a temporary import surcharge not to exceed 15%. But the thing is we're not facing fundamental international payment problems. That's fundamental international payment problems I guess would be if there's currency issues or currency swaps and current, you know, we're not facing international payment problems. People can make payments, currency can be converted. Right now the dollar's weak but we're not having international payment problems. So the predicate to this whole statute has not been met at all. Then when it says to deal with large and serious United States balance of payment deficits, not trade deficit, balance of payment deficits. If another country may say be manipulating their currency. And that's declared. But first, if there's an international payment problem generally. So the main, I'm just reading the statute so you could be saying, well how does he do another unlawful thing. Well, because his lesson from the Supreme Court is it took 16 months before the Supreme Court declared the last one unlawful. So he's going to do another unlawful thing and hope it lasts another 16 months. That's what. That's the plan. And I read for you why this doesn't apply at all. But also, shouldn't the lesson that we all have from this past year, almost a year and a half now, be the tariffs are bad? Isn't that so freaking obvious? Anyway, there you have it folks. Hit subscribe. Let's get to 6 million. Thanks for watching New Midas Merch Drop Check out the latest Pro Democracy sticker packs, T shirts, hats, sweatshirts and more all@store.midas touch.com
- [17:50]
Advertiser/Promoter
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- [19:23]
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- [19:25]
Host
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We're getting the same great signal as
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