Trump Goes Silent After Market Tanks

Summary

The MeidasTouch Podcast: "Trump Goes Silent After Market Tanks" – Detailed Summary

Release Date: March 10, 2025

In this episode of The MeidasTouch Podcast, hosted by the Meiselas brothers—Ben, Brett, and Jordy—the conversation centers around former President Donald Trump's latest maneuvers in the wake of a significant market downturn. The episode delves into Trump's attempts to maintain influence, his economic strategies, international relations, and the broader implications for American democracy and the global economy.

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1. Trump's Economic Impact and Market Downturn

Ron Filipkowski kicks off the discussion by addressing the immediate economic fallout attributed to Donald Trump's actions. He highlights Trump's messaging to his base amidst the market turbulence, emphasizing the deteriorating perception of Trump's economic stewardship.

• Ron Filipkowski [03:00]:

  "Donald Trump is tanking the markets. Yes, he's starting the week again by crashing our economy once again."

Filipkowski criticizes Trump's approach, labeling him a "con artist" whose policies are detrimental to American financial stability. He references Kevin Hassett, Trump's top national economic advisor, to underscore Trump's attempts to deflect blame onto President Biden.

• Ron Filipkowski [03:30]:

  "Donald Trump is an idiot and he's bankrupted every freaking thing essentially in his life."

2. Critique of Trump's Recession Timeline and Economic Policies

The podcast delves into a detailed analysis of Trump's predicted economic timelines and the reality of their outcomes. Filipkowski outlines the four-phase "Trump Recession Timeline," illustrating the disconnect between Trump's optimistic projections and the tangible negative effects experienced by the economy.

• Ron Filipkowski [04:00]:

  "My 401k, your 401k, our pensions, our life savings is getting destroyed like we told you it was going to because Donald Trump is an idiot..."

He also discusses the broader market trends, noting that while global stocks are performing relatively well, U.S. stocks are plummeting, exacerbating concerns about the domestic economic climate.

• Ron Filipkowski [04:30]:

  "The market's actually doing well outside of the U.S. but the U.S. has become a toxic cesspool because the White House is a toxic cesspool."

3. Canadian Trade Backlash and Its Ramifications

A significant portion of the discussion focuses on the retaliatory tariffs imposed by Canada and the subsequent boycott of American products. Filipkowski had previously predicted severe repercussions of this trade conflict, which are now manifesting beyond initial expectations.

• Ron Filipkowski [05:30]:

  "We knew that the tourism boycott was going to be more than 10%. I said it would be closer to 50 to 100%."

The impact on U.S.-Canada relations is highlighted, with Canadian consumers reducing their purchases of American goods, leading to a substantial decline in one of the U.S.'s largest trading partnerships.

4. Trump's Greenland Proposal and Policy Reversals

Filipkowski critiques Trump's recent proposal regarding Greenland, positioning it against President Biden's investments in national infrastructure and economic initiatives.

• Ron Filipkowski [07:00]:

  "Former President Biden invested billions of dollars in the United States with things like the Infrastructure Act, the Inflation Reduction Act, the CHIPS Act. And what are you doing? You're reversing all of those policies that invest in America so you can invest in Greenland..."

Trump's proposition to "make Greenland rich" is portrayed as a misguided and irrelevant policy move that undermines existing domestic investments.

5. Trump's Relationship with Vladimir Putin and Democratic Values

Michael Burnbaugh provides insights into Trump's interactions with Russian President Vladimir Putin, drawing parallels to unhealthy power dynamics and authoritarian tendencies.

• Michael Burnbaugh [13:16]:

  "When you see Trump with Putin... it's like the 12-year-old boy that goes to high school and meets the captain of the football team. My hero. It is really creepy."

Filipkowski expands on this by discussing the dangers of authoritarianism within democratic frameworks, emphasizing the importance of the rule of law in safeguarding against tyranny.

• Ron Filipkowski [14:00]:

  "A democracy... is one where the rule of law protects all citizens, and the rule of law applies to all citizens, whether they're the president or the prime minister or an ordinary, you know, elector."

6. Trump's Interactions with Former Leaders and Ongoing Rhetoric

The episode also touches upon Trump's strained relationships with international figures, such as former Australian Prime Minister Malcolm Turnbull. Filipkowski highlights Trump's tendency to undermine and disparage former allies, further isolating his political stance.

• Ron Filipkowski [11:30]:

  "Donald Trump attacking the former Prime Minister of Australia, Malcolm Turnbull... he's a weak and ineffective leader."

This behavior is contrasted with Biden's cooperative international efforts, positioning Trump as a divisive figure on the global stage.

7. Final Remarks and Implications for American Democracy

As the episode concludes, the hosts reflect on the long-term consequences of Trump's policies and rhetoric on American democracy and economic health. They caution listeners about the enduring negative effects of Trump's actions, irrespective of his political future.

• Ron Filipkowski [13:16]:

  "Ron Philipkowski and more. We knew that the tourism boycott was going to sting and hurt the United States far more than anyone has predicted."

The discussion underscores the podcast's commitment to analyzing political dynamics with a focus on preserving democratic values and economic stability.

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Conclusion

This episode of The MeidasTouch Podcast offers a critical examination of Donald Trump's recent activities and their impact on the U.S. economy and democratic institutions. Through incisive commentary and strategic analysis, the Meiselas brothers articulate the challenges posed by Trump's leadership style and policy decisions, urging listeners to remain vigilant in supporting democratic principles and economic resilience.

Notable Quotes with Timestamps:

• Ron Filipkowski [03:00]:

  "Donald Trump is tanking the markets. Yes, he's starting the week again by crashing our economy once again."

• Ron Filipkowski [04:00]:

  "My 401k, your 401k, our pensions, our life savings is getting destroyed like we told you it was going to because Donald Trump is an idiot..."

• Michael Burnbaugh [13:16]:

  "When you see Trump with Putin... it's like the 12-year-old boy that goes to high school and meets the captain of the football team. My hero. It is really creepy."

• Ron Filipkowski [14:00]:

  "A democracy... is one where the rule of law protects all citizens, and the rule of law applies to all citizens, whether they're the president or the prime minister or an ordinary, you know, elector."

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Stay Connected: For more in-depth analyses and discussions, subscribe to The MeidasTouch Podcast and join the MeidasMighty community. New episodes are released every Tuesday and Friday morning, with live video sessions every Monday and Thursday night on the MeidasTouch YouTube channel.

Transcript

[Michael Burnbaugh]

I'm ready for my life to change.

[Ryan Seacrest]

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[Carrie Underwood]

Come out with a golden ticket.

[Ron Filipkowski]

Let's hear it.

[Ryan Seacrest]

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[Carrie Underwood]

I've never seen anything like it.

[Ryan Seacrest]

And a new chapter begins.

[Ron Filipkowski]

You're going to Hollywood.

[Ryan Seacrest]

Carrie Underwood joins Lionel Richie, Luke Bryant and Ryan Seacrest on American Idol News Sundays 8, 7 Central on ABC and stream on Hulu.

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[Michael Burnbaugh]

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[Ron Filipkowski]

This episode is brought to you by Progressive Insurance. Fiscally responsible financial geniuses, monetary magicians. These are things people say about drivers who switch their car insurance to Progressive and save hundreds. Visit progressive.com to see if you could save Progressive Casualty Insurance Company and affiliates. Potential savings will vary. Not available in all states or situations. Another day and Donald Trump is tanking the markets. Yes, he's starting the week again by crashing our economy once again. And here's what he's sending to his supporters to try to con them even more as most Americans realize what a con artist he is. Donald Trump sends the following message. Please answer. Before this poll closes tonight, would you accept a Doge dividend check signed by Trump? Should Trump give Doge savings back to American citizens via check? Then Donald Trump puts his top national economic advisor, Kevin Hassett on cnbc. And here he says that the reason that we're seeing GDP contraction and likely a recession is, is it is Biden's fault. He says this is Biden's economy. Biden's doing everything wrong. The Trump administration, the Trump regime is absolutely panicking today. Let me share with you this clip of Trump's national economic advisor. Play this clip.

[Carrie Underwood]

Near term, we've got a Biden economy that, you know, still most of Biden policies are in place. If you look at the Atlanta Fed GDP now number, it's showing negative first quarter, which is kind of, if you like a metric of the inheritance of President Biden. A lot of that is also from a big increase in the trade deficit, which as you know and you've been covering, Joe, is happening in part because people are anxious about future tariffs. And so they're stockpiling. And so that's a very, very temporary.

[Ron Filipkowski]

As our editor in chief Ron Philipkowski writes, here's the Trump recession timeline. One, this will be a golden age. On day one, prices will come down and the economy will boom. Two, these policies won't cause a recession. We know what we're doing. Three, okay, it will cause short term pain, but it will be good in the long term. Four, this is Biden's recession. That's the pattern that we've seen. One of the things we're seeing as well as Luke Kawa writes, last week was the first time since 1988 that U.S. stocks fell 3% while global stocks that are not the U.S. related stocks rose 2.5%. So the market's actually doing well outside of the U.S. but the U.S. has become a toxic cesspool because the White House is atoxic cesspool. I mean, just take a look at this right here. A whole bunch of themes are getting absolutely destroyed today, as George Perks writes. And it's not just AI adjacent stuff. Banks are down even more. Private equity is getting crushed. You name it. American companies are getting destroyed right now. And that means my 401k, your 401k, our pensions, our life savings is getting destroyed like we told you it was going to because Donald Trump is an idiot and he's bankrupted every freaking thing essentially in his life. So yes, he was going to bankrupt. It Again, the guy who has bankruptcy after bankruptcy, who's the worst business person, who's a destroyer, who somehow convinces people that he's a good businessman even though he's bankrupted all of his companies. Yes. Guess what? He's bankrupting the United States again. And now he's panicking and lying and saying, oh, here's what's really going on. Here's what's really going on. Just front page today from the USA Today, a theme, though, that we've been talking about as you know, front page on the Midas Touch Network now for what, several months. Canadian backlash stores pull wine whiskey from shelves over tariffs. Now, we told you, we said this Canadian boycott is going to sting and hurt the United States far more than anyone has predicted. And how do we know that? Well, there's a reason why the Midas Touch podcast is the number one podcast of all podcasts in Canada. We speak to Canadians. We speak to the Canadian leaders. We speak to the Canadian people all of the time. We knew that the tourism boycott was going to be more than 10%. I said it would be closer to 50 to 100%. People in Canada ain't traveling to the US anymore. People in Canada ain't buying us anymore. And they were our biggest trading partner. So of course it's going to impact us beyond even the retaliatory tariffs from them. And so as the markets keep on crashing, what's Donald Trump saying? Well, Donald Trump saying that while he guts Medicaid, while he guts all of these programs that actually are vital to Americans, as he, like, shuts down National Park Service rangers, as, as, as he screws Americans, he does say, though, he's moved on to his next target. He's now. He's now trying to defraud the people of Greenland. Greenland. I mean, we know he said this before, but this was the post that he's made and Elon Musk is reposting because Donald Trump has, like, just one or two tricks, right? He's got to go on and say, okay, maybe I'm taking the United States. Greenland. You want me to make you rich? You want me to make you rich again? I mean, this. These posts are just ridiculous. As I made clear during my joint address to Congress, the United States strongly supports the people of Greenland's right to determine their own future. We are ready to invest billions of dollars to create new jobs and make you rich. What the hell are you talking about? Former President Biden invested billions of dollars in the United States with things like the Infrastructure act, the inflation Reduction act, the CHIPS Act. And what are you doing? You're reversing all of those policies that invest in America so you can invest in Greenland or tell Greenland you're going to make them rich. I mean, what the hell is even going on here?

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[Ron Filipkowski]

Oh, and then by the way, it now turns out also that the guy who's serving as the acting Undersecretary of State for Public diplomacy, one of Trump's most senior State Department officials, as Andy Kaczynski points out, has now been deleting all of his tweets, spreading the unfounded rumors that his boss, Marco Rubio, Secretary of State, attended gay foam parties and called Marco Rubio Low IQ. But folks, as Donald Trump was heading into D.C. today, he did his usual kind of con artist dick. We're going to be so rich, you're not going to get to know or you're going to be so rich you're not going to know. Do it all your money, you're going to be so rich. Here, play this clip All I know is this.

[Donald Trump]

We're going to take in hundreds of billions of dollars in tariffs and we're going to become so rich you're not going to know where to spend all that money. I'm telling you, you just watch. We're going to have jobs, we're going to have open factories. It's going to be great.

[Ron Filipkowski]

So ridiculous. Oh, by the way, that Jeff Bezos relationship with Trump, the Bezos Trump connection, you know, we know that Bezos what bought Melania's documentary for $40 million or $41 million? Now guess what everybody, the Apprentice is coming to Amazon Prime Video. Yes, Bezos did a deal with Donald Trump to bring Apprentice seasons one through seven to stream on Amazon Prime. So all your 401ks and your pensions and your life savings is going absolutely down the drain right now as America's economy is in the toilet bowl. It's okay, cuz Donald Trump selling Trump meme coins. And Trump did a deal. Yeah, not the deal to create peace in Ukraine in 24 hours. Not yet. Not, not that deal. The deal he did though was to get the Apprentice seasons one to seven on Amazon Prime. Good job, Donald. Good job. I'm sure all the Republicans are so proud. They think you're so strong for doing that. Here's the Wall Street Journal headline from today. Tariff wars are often short. Their legacies aren't. Economists fear that Trump's tariffs, once they take hold, could have unexpected effects long after he leaves office. Meaning even when he's gone, he's going to screw us for the foreseeable future. Oh, and then Donald Trump spends his time as well attacking the former Prime Minister of Australia, Malcolm Turnbull. That's how Donald Trump spending his time when not attacking Trudeau anymore. Now, now Turnbull, the former Prime Minister of Australia, Trump goes. Malcolm Turnbull, the former Prime Minister of Australia, who was always leading that wonderful country from behind, never understood what was going on in China, nor did he have the capacity to do so. I always thought he was a weak and ineffective leader and obviously Australians agreed with me. By the way, this is what former Prime Minister of Australia Macim Turnbull said about Donald Trump. Play this clip.

[Michael Burnbaugh]

When you see Trump with Putin, as I have on a few occasions, he's like the 12 year old boy that goes to high school and meets the captain of the football team. My hero. It is really creepy. It's really creepy.

[Unknown Advertiser]

And that struck you at the time?

[Michael Burnbaugh]

Oh, absolutely. It struck everybody. It was, it was like you could touch it. It was creepy. The creepiness was palpable.

[Unknown Advertiser]

Are you trying to say they're having a bromance?

[Michael Burnbaugh]

No, I'm not saying. I'm not saying. I'm just telling you what I saw. Regrettably, the Republican Party under Donald Trump, and particularly the right wing of the Republican Party, are very sympathetic to Vladimir Putin. I mean, I've been with Trump and Putin. Trump is in awe of Putin. Tyrants are often popular. You see, the key to democracy, liberal democracy, is that it empowers the majority, but it also, through the rule of law, constrains the majority. And if you get to the point where anybody who can muster a majority, and I don't think Trump can do that, by the way, but anyone who can muster a majority is given absolute power and then can do whatever they like to the minority, that's not a democracy. That is a tyranny. That is an autocracy. Even if it's got the support of 50, 51% of the population, that is not what makes a democracy. A democracy, as we understand it is one where the rule of law protects all citizens, and the rule of law applies to all citizens, whether they're the president or the prime minister or an ordinary, you know, elector.

[Ron Filipkowski]

And you want me to show you how Turnbull was right. This was Donald Trump last night being asked if you believe Putin is disrespecting you by attacking Ukraine. Let's play it this week.

[Carrie Underwood]

Disrespecting you by attacking Ukraine when you're trying to. Putin disrespecting you by attacking Ukraine.

[Donald Trump]

What did he do?

[Michael Burnbaugh]

Well, he's attacked Ukraine.

[Donald Trump]

Is he disrespecting me?

[Carrie Underwood]

Yeah.

[Donald Trump]

Who are you with?

[Michael Burnbaugh]

I'm Michael Burnbaugh from the Washington Post.

[Donald Trump]

You lost a lot of credibility. Go ahead, what else?

[Ron Filipkowski]

Yeah, there you have it, folks. Hit subscribe. Let's get to 5 million subscribers. Thanks for watching.

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[Ron Filipkowski]

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