Trump Loses Control in AM After Terrible News

Summary

The MeidasTouch Podcast Summary: "Trump Loses Control in AM After Terrible News"

Release Date: June 11, 2025

In this episode of The MeidasTouch Podcast, hosts Ben, Brett, and Jordy Meiselas delve into the chaotic morning of former President Donald Trump following a series of unfavorable news developments. Balancing sharp political analysis with their signature brotherly banter, the trio unpack the implications of Trump's latest actions on U.S. domestic and international fronts.

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1. Trump's Tariff Policies and Trade Negotiations

The episode kicks off with an in-depth critique of Trump's recent trade policies, particularly focusing on the imposition of tariffs on China. The commentators express frustration over Trump's inconsistent tariff rates and the purported impact on American consumers and businesses.

Critical Analysis of Tariff Discrepancies

"Donald Trump acts like that's a victory. Yay. We're taxing the American people 55%, basically making Chinese goods unaffordable to bring into the United States while China is smartly not taxing its own people." (01:05)

The hosts highlight the disparity between the 55% tariffs imposed on Chinese goods and the mere 10% tariffs levied against U.S. goods in China, questioning the efficacy and honesty of Trump's declarations of success in trade negotiations.

Unfulfilled Trade Deal Promises

The podcast references President Trump's declarations about reaching trade deals, only to juxtapose them with Reality:

"The deal was reached in London was that our consumers and businesses now get to pay 55% taxes instead of 30%. Then Donald Trump goes..." (06:42)

A clip featuring Howard Lutnick, CEO of Cantor Fitzgerald, is criticized for overpromising on the number of trade deals intended to be finalized within a specified timeframe, which ultimately went unfulfilled.

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2. Economic Indicators and Inflation Concerns

Shifting focus to economic data, the hosts discuss the Consumer Price Index (CPI) report released by the Labor Department, which indicated a 2.4% annual rise in inflation for May.

Scrutiny of Inflation Data Quality

"Economists raised questions about the quality of U.S. inflation data. The Labor Department says staffing shortages reduced its ability to conduct its massive monthly survey." (03:15)

The commentators reference a Wall Street Journal article questioning the accuracy of the CPI figures, suggesting that the data might not fully capture the economic realities due to reduced survey capabilities.

Banking Sector's Response to Economic Health

The discussion extends to the banking sector's anticipatory measures in response to potential economic downturns:

"Citigroup is set to put aside hundred millions of dollars more than it did last quarter to account for potential losses on loans. An early sign that the biggest US Banks may be bracing for deteriorating economic health." (04:20)

This move by major banks signals a cautious outlook on future economic conditions, further fueling concerns about the nation's financial stability.

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3. National Security and Law Enforcement Issues

The episode transitions into the realm of national security, examining the deployment of federal agents at public events and the implications for civil liberties.

Federal Agents at Sporting Events

"ICE and Customs and Border Protection personnel would be at the game providing security, which raised questions among some who are wondering if the federal agents are just going to be part of the overall security team." (10:10)

The hosts question the necessity and appropriateness of having Immigration and Customs Enforcement (ICE) and Customs and Border Protection (CBP) agents integrated into the security teams of major sporting events, expressing concerns over privacy and potential overreach.

Governor Gavin Newsom's Stance Against Trump

Highlighting political tensions, the podcast references Governor Gavin Newsom's resistance against Trump's directives:

"Shout out to California Governor Gavin Newsom, who's been standing up to Donald Trump." (10:38)

This segment underscores the ongoing power struggle and legal battles between state governors and the former president, emphasizing the broader implications for state and federal authority.

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4. National Guard Deployment Controversies

A significant portion of the discussion centers around the controversial deployment of the National Guard, perceived by the hosts as a politically motivated maneuver.

Unprepared National Guard Troops

"They were deployed troops, unprepared soldiers sent to lack the basic necessities. They were only able to operationalize a few hundred of these National Guard troops and they basically put him to guard buildings." (11:15)

The commentators criticize the handling of National Guard deployments, suggesting inefficiency and mismanagement that undermine public trust in military operations.

Federalization of the National Guard

The podcast delves into the legal and ethical ramifications of federalizing the National Guard, questioning the legality and necessity of such actions:

"When you federalize the National Guard, in my view, very unlawfully." (12:00)

This assertion raises alarm about potential abuses of power and the erosion of checks and balances within the U.S. military framework.

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5. Upcoming Trump Parade and Public Perception

Concluding the episode, the hosts address the planned parade intended to celebrate the 250th anniversary of the U.S. Army, which has been co-opted into a personalized event for Trump.

Manipulation of Patriotic Events

"Everyone come out and be there. It's gonna be the most patriotic event. Donald Trump the dictator is gonna look like Kim Jong Un or Vladimir Putin as tanks roll through Washington, D.C." (12:50)

The portrayal of Trump as a "dictator" drawing unfavorable comparisons to international autocrats serves to critique the exploitation of nationalistic sentiments for personal aggrandizement.

Army's Role in Suggesting the Parade

The podcast clarifies that the idea for the parade originated from the Army, not Trump, aiming to spotlight the militaristic aspect rather than a political statement:

"The army was the one that suggested having this parade. They're trying to say because his birthday's on Saturday and the parade's on Saturday, he's doing this for his birthday." (14:05)

This distinction is made to emphasize the misuse of institutional initiatives for political gain, furthering the narrative of Trump’s deteriorating control and public image.

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Conclusion

Throughout this episode, The MeidasTouch Podcast provides a scathing examination of Donald Trump's latest political maneuvers, economic policies, and their broader implications on both national and international stages. Through incisive commentary, the hosts dissect the inconsistencies and purported failures in Trump's administration, painting a picture of a leader losing grip amidst growing opposition and systemic challenges. The discussion is enriched with pertinent quotes and timestamped references, offering listeners a comprehensive understanding of the current political climate as shaped by Trump's actions and the ensuing consequences.

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For those interested in more in-depth analyses and updates on U.S. politics and democracy, tune into the next episode of The MeidasTouch Podcast, released every Tuesday and Friday morning.

Transcript

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[Commentator]

Trump continues to look like a complete and utter fool. It's yet another morning of ranting and raving like a lunatic in all caps posts and he's now saying that this consensus framework, whatever the heck you want to call it with China. Actually, the United states is imposing 55% tariffs against China and they are imposing only 10% tariffs against the U.S. donald Trump acts like that's a victory. Yay. We're taxing the American people 55%, basically making Chinese goods unaffordable to bring into the United States while China is smartly not taxing its own people. And didn't they say yesterday that it was going to be the same 30%? Who even knows what the hell Trump is doing with these tariffs? Here's Trump's post. All all caps. Our deal with China is done subject to final approval with President G and me. Pause there. Actually should be subject to final approval of Congress, who has the tariff power. But let's be clear. Donald Trump is an idiotic dictator. And so this is what you'd expect him to say. Full magnets and any necessary rare earths will be supplied up front by China. Pause there. That's what was taking place before you tariff the world. I like that. He goes, this is a victory. We're going to get what we were getting before the trade war against the world. And then I caved because China withheld rare earth minerals. And then all of our technology companies were about to go bankrupt. So we immediately had Treasury Secretary Scott Bessant Bessant and Trade Representative Jameson Greer cave because Trump always chickens out. Dude, you're claiming a victory for the status quo before your trade war. I mean, again the international community is laughing in this idiot's face right now. He goes on to say, likewise, we will provide to China what was agreed to, including Chinese students, using our colleges and universities, which has always been good with me. Exclamation point. Always been good with you. You were the one who tried to put an end to that. So again, the status quo. Exactly what existed before the arson lit the world on fire and created chaos that is lingering and has jeopardized, even jeopardized, crushed the United States power in the world. Then Trump goes we are getting a total of 55% tariffs. China is getting 10%. Relationship is excellent. Exclamation point. Thank you for your attention to this matter. Thank you for your attention to this matter. A Spencer Akimian says so the deal was reached in London was that our consumers and businesses now get to pay 55% taxes instead of 30%. Then Donald Trump goes. Adding to the China readout, President Xi and I are going to work closely together to open up China to American trade. This would be a great win for both countries. To China is open to American trade. What frickin world is this idiot living in? China's open to American trade. Europe is open to American trade. We have free trade with the world. I don't even know what era you are living in in your cognitively addled, malignant, narcissistic, idiotic lack of a brain of your. Then he posts this CPI talking about inflation. CPI just out great numbers. Fed should lower one full point. Would pay much less interest on debt coming due. So important. Exclamation point. I like how he's celebrating the fact that inflation rose 2.4% in May on an annual basis. So it rose less than expected. The report was not as bad as people expected. So I guess baby Trump deserves a round of applause. Yay. It's not quite as bad as it expected. As we expected it was gonna be a big win for Donald. Not as bad as expected. Let's take a look at what the Wall Street Journal previously said about this data. So just so you know, this is what the Wall Street Journal said. Economists raised questions about the quality of U.S. inflation data. Article June 4. Labor Department says staffing shortages reduced its ability to conduct its massive monthly. Okay, well that's a data point. How about what JP Morgan says right here? We still think it may be early to see signs of sizable pass through of tariffs into consumer prices and look for firmer readings by the summer months. In other words, even though inflation is still rising, it's not Rising as much as people expected. We're gonna be waiting for the summer months to really get a handle on what's going on. And if you wanna take a look at what another bank, Citigroup, is doing, Citigroup is set to put aside hundred millions of dollars more than it did last quarter to account for potential losses on loans. An early sign that the biggest US Banks may be bracing for deteriorating economic health. Given the macro environment, et cetera, cost of credit compared to last quarter, we expect to be up a few hundred million, says Citigroup's Citigroup's head of banking. Now what is Howard Lutnick? Donald Trump's scammy? They're all scammy. Commerce Secretary have to say so when are you going to do these deals? Lutnick, you said there were going to be 90 deals in 90 days. We're almost in July. The 90 days is up. You've done zero deals in 90 days. So Nutlik, tell us Nutlik, what's the update? Play the clip.

[News Anchor]

You guys have set the deadline for early July to have more trade deals. We're expecting more to come. What can you tell us about the progress of, of any of the ones you're working on? We thought Japan, India were close. We got this framework from the uk but what else is in, what else is coming there?

[Howard Lutnick]

Oh, there are so many coming. But when you've got Scott Jameson and I spending, you know, 25 hours locked in a room with the Chinese, we're not really doing the other deals. Yes, our teams are moving them forward, but, you know, now we're going to be focused. Starting today, we're going to be focused on other deals. We're gonna get them done. We're in good shape with lots of countries, but good shape isn't good enough for the United States of America. We want great deals that are fundamental for America. We can get them. We can get them done.

[Commentator]

Dude, looks like the if I asked Chatgpt draw me a snake oil salesman and animate it. It would be what I literally just showed you. We're doing so much deals. The biggest beautiful deals you ever seen. The biggest beautiful deals ever. There's gonna be a deal today, a deal yesterday. You know how I was negotiating with China? What did you negotiate with China? Somewhat of the status quo regarding rare earth minerals before your trade war against the world. What a victory by Howard Lutnick. Yay for Donald Trump. 55% tax on Americans importing Chinese. What in the world are you even talking about? By the way, Donald Trump was asked by this interviewer, this dropped earlier, are you going to arrest Gavin Newsom? Play this clip.

[Interviewer]

Are you going to arrest Gavin Newsom?

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Well, he's not doing a good job, you know.

[Commentator]

Arrest.

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What does that mean, he's not doing a good job? Well, in theory you could, I guess.

[Commentator]

You know, it's almost like a dissipation of duty.

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[Commentator]

And by the way, shout out to California Governor Gavin Newsom, who's been standing up to Donald Trump. Midas Touch Network had The exclusive on YouTube of Governor Newsom's incredible address to the state. And the nation looked incredibly presidential last night. But hey, Donald, before you start all of your bloviating blabbering, I'm going to arrest you. I'm going to arrest you. You may want to, I don't know, get the National Guards a pillow and a bed when you send them to basically be at war with Americans when you federalize the National Guard, in my view, very unlawfully, as the San Francisco Chronicle page one reports. We talked about this yesterday as well. When they broke the news. Deployed troops, unprepared soldiers sent to lack the basic necessities. They were only able to operationalize. Also a few hundred of these National Guard troops and they basically put him to guard buildings and the LAPD basically had to guard them. The whole thing was so bizarre. Oh, have you, have you heard this as well? This is Trump's America. So ICE and Customs and Border Protection, they're now hired as the security for the Club World cup games. The FIFA Club World cup kicks off Saturday at the Hard Rock Stadium with Inter Miami playing a team from Egypt. The Department of Homeland Security announced that ICE and CBP personnel would be at the game providing security, which raised questions among some who are wondering if the federal agents are just going to be part of the overall security team, which is normal for a big event. I don't actually think that's normal at all. Or will they be checking papers and detaining fans arriving for the game? I just want to fact check this article by six South Florida right there, because I think it's helpful that they're shining a light on this. I've never gone to a sporting event and had the security be ice agents and custom and border protection. Okay, you know what the security is usually like at a sporting event? Private security that works at the stadium. And that's about it. I understand in sometimes higher profile games you may have additional enhancements, but I've never seen ICE agents running security. The Department of Homeland Security, though, wants you to know that Kristi Noem, the Dog Killer cosplayer, she's very, very busy. Here she is. This is a video they released today. And it's just like minutes of her signing papers. Like that's, that's what the video is. Play this clip. And finally, we take you to state regime media Fox. And this is what they're telling their viewers today. They're promoting the Trump dictator parade. It's gonna be so patriotic. Everybody come out and be there. It's gonna be the most patriotic event. Donald Trump the dictator is gonna look like Kim Jong un or Vladimir Putin as tanks roll through Washington, D.C. and we lie that it's only gonna cost $45 million. It's gonna be quite the spectacle here in the United States.

[News Anchor]

President Trump will host a parade this weekend to mark the 250th anniversary of the army. And those are your headlines. Guys. Back over to you.

[Commentator]

Also, it was not President Trump's idea.

[News Anchor]

With the par day.

[Commentator]

It was put up last time by Gen. I'm so glad you brought that up today.

[News Anchor]

And the army was the one that suggested having this parade. They're trying to say because his birthday's on Saturday and the parade's on Saturday, he's doing this for his birthday. It's going to be patriotic and wonderful. Who doesn't like a military period?

[Zoe Saldana]

It's also flag day.

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Yes. Yep.

[Commentator]

Great.

[News Anchor]

For the country. 17 minutes after. It's now 18 minutes after the top of the hour.

[Commentator]

Anyway, hit subscribe. Let's let's get to 5 million subscribers. Thanks for watching.

[Interviewer]

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