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- [00:00]
Ben Meiselas
Oof.
- [00:00]
Michael Popok
A devastating morning for Donald Trump as the disastrous budget bill is in limbo with MAGA Republicans not supportive of it. At least 12 holdouts so far. We'll see what happens. Also, jobs are plummeting here in the United States. The US private sector lost 33,000 jobs in June, badly missing expectations for a 100,000 job increase. Um, this is according to the latest payroll ADP data. This was the moment on FOX where Maria Bartiromo was ready to spike the football. She knew that Donald Trump would be watching this and she was ready to announce that there were 95,000 to 100,000 jobs that were going to be created. She was going to say, look, all of Donald Trump's plans have been working. And then she had to announce what we've been telling you here on the Midas Touch Network is happening, that jobs are plummeting. Watch this moment and you see how upset she gets. Let's play this clip.
- [01:05]
John
Course, President Trump is talking about this bill leading to growth in the economy. We are waiting any moment now to get the jobs numbers for the month of May. The expectations call for the ADP numbers to be up 95,000 for the month of June. Rather, it's the June jobs data and will of course right now seeing, seeing the number actually show a decline in jobs down 33,000 on, on ADP. The bill includes $25 billion for the golden Dome, the missile defense system. Senator, you introduced a bill supporting the construction of that system. I want to get your take on, on defense and whether or not now.
- [01:45]
Michael Popok
About an hour before that, Donald Trump posted on his social media platform, nobody wants to talk about growth. Which will be the primary reason that the big beautiful bill will be one of the successful pieces of legislation ever passed. The growth has already begun at levels never seen before. Trillions of dollars are now being invested into the USA more than ever before. Likewise, hundreds of billions of dollars in tariffs are filling up the coffers of treasury, dot, dot, dot. He goes on to say more. It's all lies, though. What we're trying to explain to you here on the Midas Touch Network is that the fundamentals of the United States economy is not strong anymore. Do not believe anybody who you otherwise and I'll give you the data points right now. Shipping, we continue to cover here on the Midas Touch Network that these ships are not coming into our ports in Los Angeles and throughout California for that matter. That's a problem. If the ships aren't coming in with products and goods, then that also means that it impacts trucking. It means that American is America is not trading the way it used to. That is a big problem. We also know that the dollar is off to its weakest start since 1973. What does that tell us? It tells us that money is being moved out of the United States and the world is seeing the United States less as the world reserve currency. That is a big problem. We're also seeing boycotts of the United States from Canada and elsewhere. We're seeing tourism boycotts and setting aside boycotts. Who wants to come to the United States when you can end up in Alligator Alcatraz or some concentration camp and have the Trump regime say we don't even know where you are anymore once they send you to who knows where? That is a major issue. All those factors, it shouldn't come as a surprise. I know that the business networks are like an unexpected drop. We expect. There's nothing unexpected about this. We know the impact of tariffs. We know it's devastating. We know it's inflationary. That's why core inflation was unexpectedly up last month. 2.7% core inflation. That's expected to me because we know what tariffs do. We know what the impact of these policies. We know when China is not providing rare earth minerals to the United States at the levels it did before. That's a problem for our manufacturing. So you can try to Ponzi scheme this economy, but it's all BS because I'm telling you what the fundamentals are right now. And also we're doing home, new home sales are down significantly. Construction is down significantly. Anyway, so then Fox had to pivot because their day was going to be look, celebration, growth, everything's going great, which was all Ponzi scheme economy stuff anyway. So then watch what happens on Fox. Here, play this clip.
- [04:49]
John
Trump would like to sign this right before the July 4th holiday to celebrate freedom and independence. John, we are 30 minutes away from the opening bell for Wednesday in a holiday shortened week. Your your thoughts?
- [05:02]
Ashley
Well, our big surprise today had to be that ADP report on private sector employment that was down by 33,000 jobs. The labor market is softening. It's flattening out and that tells me that companies can go ahead and increase prices in response to higher tariffs. But I don't think that consumers are going to respond positive. They'll pull back on spending. So any increase by inflation because of tariffs will be quite limited. Ultimately, tariffs may do more to increase federal revenues, reduce the federal deficit than to add to price inflation. And of course, all this adds up to Lower than expected interest rates by the end of this year.
- [05:46]
John
Yeah, great point. Markets have turned negative. Now, 30 minutes before the open, on the heels of that weaker than expected June ADP report. That's why President Trump keeps talking about growth, Ashley. John, you just mentioned, you know, people will have to raise prices. Not in Mamdani's New York, Ashley. No, no, no, no. Not if the government is running the grocery stores.
- [06:07]
Michael Popok
So then in the usual humiliation ritual routine, the MAGA Republicans who consider themselves moderates and other MAGA Republicans who are not, who don't consider themselves as such, the 12 holdouts or so, you start to see them walk into the White House. You have people like Congressmember David Valadao from, I think he's California's 22nd. You have new York Congressmember Lawler who said that he wouldn't vote for this things. But then remember the video I made this morning? In addition to those people who were entering the White House, I mean, you had Andy Harris, who leads the Freedom Caucus. No, Moderate, Ralph Norman, Andy Ogles, Chip Roy. Again, none of these people are moderates. Um, I mentioned Valadao, Thomas Massie, Warren Davidson, Andy Biggs, Spars. Mean all these Congress members have said that they're not going to vote for this thing in its current form. So Donald Trump's trying to force them to vote for it via social media. The one big beautiful deal is all about growth. They've passed. America will have an economic renaissance. This is what you've said about all of your companies, which you've bankrupted before. Let's be clear who Donald Trump is. He is a felon, he is a sexual abuser, he is a fraud. He was found liable on 34 felony counts of fraud. Right. He was. He's bankrupted business after business after business. This is his same shtick. We're gonna make Atlantic City so big, people are gonna get so rich. And then the casinos go out of business. Well, you make everybody. So this goes out of business. This is his whole life is a life of failure. And we have to be like, dude, you're the worst business person ever. You destroy everything. And then what he does is he blames it on people. So now who's his target? The chairman of the Federal Reserve, Jerome Powell, who he calls too late. Jerome Powell. And so when he says too late, what's he setting up for exactly what he did to Dr. Fauci. He's trying to. Dr. Fauci, Jerome Powell, who Trump appointed Jerome Powell. And he's going to go, oh, it Would have been magnificent. Everything would have been so great. I told you. But he was too late. Powell, he did it. It was his fault. That's what they're doing. So now Donald Trump has his stooges. MAGA Republicans like sexual abuse cover upper Jim Jordan. You get a trend here with these MAGA Republicans. Jim Jordan, who covered up sexual abuse at his prior job before going to Congress, who now leads the, the House Judiciary Committee. But he's never passed the bar exam and he's not a licensed lawyer. Go figure. That's who they have as the head of the judiciary. Here's what he has to say. It's as good as it's going to get, so just, just pass it. It's as good as it's going to get, so just pass it. Here, play it.
- [08:52]
Jim Jordan
I think we probably got as good a product as we're going to get. And again, I think it's, I think it's good legislation. The other thing I would point out is politics is like sport. Momentum matters. And right now all the momentum is on our side. I mean the President has secured the border. We had this amazing operation in Iran. We have, you know, all the other things that happened in NATO where the countries are now going to ending up 5%. So we're on a roll. And now we're going to stop this legislation which again lets families keep more of their money. I think we got to be careful about that. I think it's best if we just pass this and get moving and keep moving on the things we told the voters we were going to do.
- [09:32]
Ben Meiselas
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- [10:44]
Michael Popok
Then they have. It's like the worst. It's like the dumbest crew of people. Then you've got Donald Trump, Secretary of Agriculture Brooke Rollins, and her thesis is that that in the farming industry, she goes, only 1% of people who work at, who work in our agriculture industry, on Farms, only 1% are undocumented. That's what you really think? Those are the numbers you're going with? You think only 1% of farm workers are undocumented, you idiot. Play this clip.
- [11:15]
Brooke Rollins
So I believe sincerely we will get to a 100% legal workforce sooner rather than later. There will be zero amnesty. We will ensure all laws are followed. But President Trump is the architect of the America first vision. That's going to hurt. And we're working. 42% of farm workers are undocumented, according to your department. Well, it is important to realize that of the millions, perhaps tens of millions, that illegal aliens that are here In America, only 1% of those are in the farm industry. So I think a lot of this gets topsy turvy. And that's why the President has said we need to focus on, on the big cities, on la, on New York, on the sanctuary cities where a lot of these illegal aliens, the criminal pieces, all of them are being housed and really working to move that out. But never forget or take our eye off the ball, that we really have to have a system with 100% legal workforce, but doing it in a cadence where you're not imploding the food supply. Listen, we lose our abundant food supply. We have real national security implant implications in this country. So it's supporting the farmers and ranchers. It's effectuating his vision of 100% legal workforce, but also ensuring that our food supplies stay safe and abundant.
- [12:25]
Michael Popok
You know, and that's the thing. I mean, you could be like, oh, Ben, don't call people idiots. No, I mean, what? Snap out of it. Right? Like, what are they talking about? Every word out of their mouth all day are lies. And they're lies that hurt us. Just recognize that a massive portion of our farming industry is undocumented migrants. It is what it is. Then let's come up with a comprehensive policy to address that, to not treat them as criminals to realize that they're being productive people to our country. Let them live a life with dignity, and let's just figure this thing out. Let's get the criminals out. Let's have strong borders. Stop with this freaking bs. Americans are sick of this crap. And you said. You all said you were going to make things more affordable. Y' all said you were going to make housing more affordable. Things would be cheaper. There would be no war In Ukraine in 24 hours, no war in Gaza. But talk is cheap. And all Donald Trump is doing is making deals for himself. Look what he announces. He just announced this. I just made a trade deal with Vietnam. Details to follow. Okay, is this a comprehensive trade deal that is hundreds of pages long that addresses comprehensive systemic trade issues? Because that's what a freaking trade deal is, not some propaganda statement. Oh, wait, in Ho Chi Minh City, the Trump Organization is going to do a $1.5 billion golf in northern Vietnam upon completion. Oh, and the Trump Organization is going to manage it? What does it really mean? It means that they're not really going to be making any capital investments themselves. They're going to attach their name to it. They'll probably just attach their name to some management company and make a massive amount of money in licensing fees and other fees for doing minimum minimal work in order to do some quid pro quo deal with Vietnam. But is this really a deal? Let's take a look at the deal. Because first off, trade deals have to be passed by Congress. It's not by fiat, by a dictator, but here's. But it's via social media. So here's what Trump says. It is my great honor to announce that I just made a trade deal with the Socialist Republic of Vietnam after speaking with Tolam, the highly respected General Secretary of the Communist Party of Vietnam. Okay. It will be a great deal of cooperation between our two countries. The terms are that Vietnam will pay the United States a 20% tariff on any and all goods sent into our territory and a 40% tariff on any trans shipping. In return, Vietnam will do something that they have never done before. Give the United States of America total access to their markets for trade. In other words, they will open their market to the United States, meaning we will be able to sell our product to Vietnam at zero tariff. Oh, because there's such a massive demand in Vietnam for. For what? What American products are we making here that there's this massive demand in Vietnam? Relatively. Vietnam is not a wealthy nation. The reason that there's a trade deficit is because the United States is wealthy, Vietnam is developing, so naturally their products are cheaper. We're bringing in more here than they can afford to buy from us here in the United States. It's the most basic economics. You don't even have to go to school for economics to realize that a trade deficit is not a tariff. It is a reflection often on the disparity of wealth between nations. And they're not paying us 40%. You are 20%. You're taxing Americans 20% on products from Vietnam. And so now if a good comes from China to Vietnam to the United States, now 40% of attacks from China. So now those goods that were being using Vietnam as a go around will now tax The American consumer 40%. The American company pays the tariff. This is just the stupidest stuff that we're seeing. When they keep on claiming, one, that these are trade deals, and two, they act like Vietnam's paying. Vietnam's not paying us anything. The hell are you talking about? Oh, and then finally, Donald Trump posts the following. A photo of an alligator bragging about the alligators eating migrants at Alligator Alcatraz, a concentration camp in Florida. So that's what's going on in the Trump regime today. Oh, I might as well show you this. This was going on on the floor right now. Democrats fighting back. Here's Democratic Congressmember Jim McGovern. Here's what he's got to say. Let's just watch this clip. Let's play it.
- [16:49]
Jim McGovern
So I said to my Republican colleagues, what's wrong with you people? In this bill, you provide a $2 billion tax break for gun silencers. But you. But you cut SNAP benefits for vulnerable, vulnerable families, which, by the way, is, on average, $2 per person per meal. Jesus Christ. What are you people thinking? I reserve my time, gentlemen. Reserves.
- [17:13]
Michael Popok
And finally, here's one more clip of Congressmember McGovern. Let's play.
- [17:17]
Jim McGovern
And an attack on this most basic, effective program that is about food. You can live without a lot of things, but you can't live without food. So, Mr. Speaker, for those Republicans who think that it's okay to give Jeff Bezos a tax cut and at the same time cut food benefits for struggling families, let me say clearly, we don't share the same values. We don't share the same values. Unloading billions of dollars in new costs on states, money they do not have, will force them to cut benefits and throw needy people off of snap. It is a rotten thing to do. And I believe there's a special place in hell for people who take food away from veterans, from seniors, from children, from former foster youth and from hungry families. This is sick. This is disgusting. I yield back.
- [18:07]
Michael Popok
There you have it folks. Let me know what you think. Hit subscribe. Let's get to 6 million subscribers. The truth is more important than ever. Check out our new Truth Over Lies collection atstore Midas Touch.com All 100% USA Union made.
- [18:30]
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- [18:57]
Michael Popok
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