Trump Panics on Monday AM as He Can't Stop His Crash

Summary

The MeidasTouch Podcast Summary Episode: Trump Panics on Monday AM as He Can't Stop His Crash
Release Date: March 10, 2025

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Overview

In this episode of The MeidasTouch Podcast, hosts Ben, Brett, and Jordy Meiselas delve deep into the tumultuous state of the U.S. economy under former President Donald Trump's influence. Through incisive analysis, spirited discussions, and sharp commentary, the brothers explore how Trump's policies and rhetoric are affecting American markets, international relations, and the general economic landscape. The episode features expert opinions, critical assessments of Trump's strategies, and interviews that shed light on the broader implications for democracy and global standing.

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Trump's Economic Impact

The discussion kicks off around the 02:45 mark, focusing on Donald Trump's role in the recent economic downturn. The hosts express strong skepticism about Trump's claims regarding economic prosperity, arguing that his policies are the primary drivers behind market instability.

Political Commentator (02:45): "Another day and Donald Trump is tanking the markets. Yes, he's starting the week again by crashing our economy once again."

The hosts highlight Trump's attempts to manipulate public perception by offering unconventional incentives, such as "Doge dividend checks," aimed at garnering support despite the evident economic decline.

Political Commentator (02:45): "Donald Trump sends the following message... would you accept a Doge dividend check signed by Trump?"

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Analysts' Perspective

At 03:54, an economic analyst provides a counter-narrative, attributing the current GDP contraction and potential recession to President Joe Biden's policies rather than Trump's actions. This segment underscores the complexity of attributing economic outcomes to a single administration's decisions.

Economic Analyst (03:54): "Near term, we've got a Biden economy... A lot of that is also from a big increase in the trade deficit."

Despite the analyst's stance, the hosts maintain their critical view of Trump, emphasizing his accountability for economic mismanagement.

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Canadian Backlash and Trade Wars

By 04:23, the conversation shifts to the repercussions of Trump's tariffs, particularly the Canadian backlash. The hosts discuss how Canada's retaliatory measures—such as boycotting American products like wine and whiskey—are significantly impacting the U.S. economy.

Political Commentator (04:23): "Canadian backlash Stores pull wine whiskey from shelves over tariffs... our tourism boycott is going to sting and hurt the United States far more than anyone has predicted."

The episode elaborates on the strategic miscalculations of imposing tariffs, illustrating how interconnected global trade dynamics can swiftly turn against the imposing nation.

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Trump's Policies and Actions

The hosts critically examine Trump's domestic policies, including his moves to gut Medicaid and reduce support for the National Park Service. These actions are portrayed as detrimental to vital American programs and services.

Political Commentator (04:23): "While he guts Medicaid, while he guts all of these programs that actually are vital to Americans... he's... shutting down National Park Service rangers."

Such policies are argued to exacerbate economic woes and undermine essential infrastructure and social safety nets.

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Trump's Greenland Investment Comments

A significant portion of the episode, around 08:46, focuses on Trump's controversial proposal to invest in Greenland, which the hosts dismiss as another ill-conceived ploy to distract from domestic failures.

Political Commentator (08:46): "He's now trying to defraud the people of Greenland... 'We are ready to invest billions of dollars to create new jobs and make you rich.' What the hell are you talking about?"

The hosts contrast this with Biden's substantial investments in the U.S., questioning the rationale and feasibility behind Trump's Greenland proposition.

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Trump and Malcolm Turnbull’s Relationship

Moving into the 10:37 mark, the episode features an interview with former Australian Prime Minister Malcolm Turnbull, offering a critical perspective on Trump's international relations, particularly his rapport with Vladimir Putin.

Malcolm Turnbull (13:57): "When you see Trump with Putin... 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."

Turnbull's observations highlight concerns about Trump's foreign alliances and their implications for global democracy and U.S. foreign policy integrity.

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Conclusion

The episode culminates with a strong denunciation of Trump's strategies and their long-term negative effects on the American economy and democratic institutions. The hosts advocate for policies that prioritize sustainable economic growth and uphold the rule of law to prevent the slide towards autocracy.

Political Commentator (15:20): "The key to democracy, liberal democracy, is that it empowers the majority, but it also, through the rule of law, constrains the majority... that's not a democracy. That is a tyranny."

The MeidasTouch Podcast not only critiques current economic and political maneuvers but also underscores the importance of informed civic engagement to safeguard democratic values.

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Notable Quotes with Timestamps

1. Political Commentator (02:45):

   "Donald Trump sends the following message... would you accept a Doge dividend check signed by Trump?"

2. Economic Analyst (03:54):

   "A lot of that is also from a big increase in the trade deficit."

3. Political Commentator (04:23):

   "Canadian backlash Stores pull wine whiskey from shelves over tariffs."

4. Political Commentator (08:46):

   "He's now trying to defraud the people of Greenland."

5. Malcolm Turnbull (13:57):

   "When you see Trump with Putin... it is really creepy."

6. Political Commentator (15:20):

   "That is not a democracy. That is a tyranny."

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Insights and Conclusions

Throughout the episode, The MeidasTouch Podcast emphasizes the detrimental impact of Donald Trump's policies on both the U.S. economy and its international standing. By presenting a combination of expert analysis, firsthand accounts, and critical commentary, the hosts argue that Trump's actions are steering the nation towards economic instability and undermining democratic institutions. The episode serves as a cautionary analysis of leadership that prioritizes personal gain and populist rhetoric over sustainable economic policies and democratic principles.

Listeners are encouraged to critically assess political narratives and advocate for policies that ensure economic resilience and uphold the integrity of democratic governance.

Transcript

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[Political Commentator]

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 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 economy. National ECONOMIC ADVISER Play this clip.

[Economic Analyst]

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.

[Political Commentator]

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 to. 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 Kaua 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 a toxic success pool. 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 Is 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. 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 crash, 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 repost. 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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[Political Commentator]

Oh, and then, by the way, it now turns out also that the guy who's serving as the Acting Under Secretary 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 artistic. 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.

[Donald Trump]

All I know is this. 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.

[Political Commentator]

I mean, 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, yeah, 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.

[Malcolm Turnbull]

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. Now, I don't.

[Political Commentator]

And that struck you at the time?

[Malcolm Turnbull]

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

[Political Commentator]

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

[Malcolm Turnbull]

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.

[Political Commentator]

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.

[Donald Trump]

What did he do?

[Malcolm Turnbull]

Well, he's attacked Ukraine.

[Donald Trump]

Is he disrespecting me? Who are you with?

[Malcolm Turnbull]

I'm Michael Burnbaugh.

[Donald Trump]

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

[Political Commentator]

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

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