Trump Panics on Thursday AM as He Collapses It All

Summary

Summary of "Trump Panics on Thursday AM as He Collapses It All" – The MeidasTouch Podcast

Podcast Information:

• Title: The MeidasTouch Podcast
• Host/Author: MeidasTouch Network (Ben, Brett, and Jordy Meiselas)
• Episode Title: Trump Panics on Thursday AM as He Collapses It All
• Release Date: March 13, 2025

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Introduction

In the episode titled "Trump Panics on Thursday AM as He Collapses It All," the Meiselas brothers—Ben, Brett, and Jordy—delve into the latest political turmoil surrounding former President Donald Trump. The discussion covers Trump's recent economic maneuvers, market reactions, consumer behavior amidst recession fears, and contentious foreign policy actions. The brothers blend insightful analysis with their characteristic humor and brotherly banter, providing listeners with a comprehensive overview of the current political and economic landscape.

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Trump's Economic Policies and Market Reactions

Tariff Threats and Market Uncertainty

The episode kicks off with a discussion about Trump's aggressive stance on international trade, particularly his threats to impose a 200% tariff on European wines and champagnes in retaliation for the EU's 50% tariff on U.S. whiskey. The hosts highlight the market's negative reaction to these threats, noting that such unpredictable policies further destabilize an already volatile market environment.

• Host: "Donald Trump took to his social media platform and threatened that if EU does not remove the tariff on whiskey... the US is going to put a 200% tariff on all wines and champagne. [02:38]"

Comments from Scott Besant and Host's Rebuttal

Scott Besant, Trump’s Treasury Secretary, attempts to downplay the impact of these tariffs. When asked about the market's significant downturn, Besant responds dismissively.

• Scott Besant: "Let's play it and one or two items with one trading block. I'm not sure why that's a big deal for the market. [04:20]"

The hosts, however, express skepticism and frustration with Besant's remarks, suggesting a disconnect between the administration's statements and the reality of the economic situation.

• Host: "Very reassuring. I'm being sarcastic of course. [04:30]"

Consumer Spending and Recession Fears

The conversation shifts to broader economic concerns, particularly the decline in consumer spending across various sectors. The Wall Street Journal reports indicate fears of a Great Recession or even a "Trump depression," with major retailers like Walmart and McDonald's noting reduced consumer spending and increased financial anxiety among customers.

• Host: "The Wall Street Journal just did a piece tallying some of the recent warnings about consumers not spending money anymore as America heads into a Great Recession and potentially even a Trump depression. [05:00]"

Additionally, the podcast touches on rising corporate bond spreads and increasing calls for a boycott of American products in countries like Canada and several EU nations, exacerbating economic tensions.

• Host: "Boycott USA has spiked on Google in the past seven days with four EU countries and Canada topping the search list. [08:00]"

Critique of Scott Besant's Defense of Economic Policies

Scott Besant continues to defend the administration's economic policies, arguing that they are designed for long-term gains despite short-term pain. The host counters this by highlighting discrepancies between the administration's claims and actual economic performance under President Biden.

• Scott Besant: "We have to remember... we've been ripping us off for decades. [09:42]"

• Host: "When you show the SEC filings, you see a history of bankruptcies and failed businesses. [16:00]"

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Foreign Policy Implications

US Relations with the European Union and Canada

The podcast explores Trump's adversarial relationship with the EU and Canada, emphasizing the negative impact of tariffs on international trade and diplomatic relations.

• Host: "Donald Trump posts again this morning. Canada needs America. America doesn't need Canada. [10:21]"

Stance on Russia and Ukraine

Trump's foreign policy stance is scrutinized, particularly his approach to the Russia-Ukraine conflict. Despite claims from Trump and some allies that Putin seeks peace, the podcast underscores Russia's disinterest in a ceasefire and supports Ukraine's sovereignty.

• Host: "Russia says it does not want a temporary cease fire in Ukraine. [12:21]"

• Senator John Corden: "Putin doesn't want peace, he wants conquest. [12:21]"

Panama Canal Military Plans

A controversial topic discussed is the Trump White House's directive for the US Military to develop options for reclaiming the Panama Canal, including the unlikely scenario of seizing it by force.

• Host: "Trump White House has asked the US Military to develop options for the Panama Canal... reclaiming the Panama Canal through military force. [12:21]"

This revelation raises concerns about escalating tensions and militaristic approaches to international infrastructure disputes.

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Critique of Trump’s Business Acumen

The host provides a scathing critique of Trump's business practices, highlighting a history of bankruptcies and failed ventures. By referencing Trump's SEC filings and past business ventures, the podcast underscores a pattern of financial mismanagement.

• Host: "Here are the businesses that Trump failed at: Trump Steaks, Trump Vodka, Trump Mortgage... [16:00]"

• Host: "He's been the worst business person in life. There's a reason this idiot has bankrupted everything he touched. [16:00]"

This segment aims to dismantle Trump's image as a successful businessman, contrasting it with his political rhetoric.

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Conclusion

Throughout the episode, the MeidasTouch brothers present a critical view of Donald Trump's recent actions and their implications for the U.S. economy and foreign policy. By juxtaposing Trump's proclamations with tangible economic data and policy outcomes, the hosts paint a picture of a leadership style that prioritizes aggressive posturing over pragmatic solutions. The episode concludes with a strong admonition against following Trump's policies, emphasizing the potential for long-term economic and diplomatic repercussions.

• Host: "Do not let these MAGA sociopath abusers gaslight you. We know what we're experiencing. [12:21]"

• Host: "He's not smart, he's dumb, he's psychotic. [16:00]"

The podcast effectively combines detailed analysis with passionate commentary, making it a valuable resource for listeners seeking to understand the complexities of current political and economic challenges.

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Notable Quotes with Timestamps

• Host: "Donald Trump doesn't realize that you don't make champagne in the United States. [02:38]"

• Scott Besant: "We're focused on the real economy, not what you're seeing. [04:30]"

• Senator John Corden: "Putin doesn't want peace, he wants conquest. [12:21]"

• Host: "He's been the worst business person in life. [16:00]"

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Final Thoughts

"Trump Panics on Thursday AM as He Collapses It All" offers a critical examination of Donald Trump's impact on the American economy and international relations. The MeidasTouch brothers leverage their unique perspectives and extensive knowledge to dissect complex issues, providing listeners with a thorough understanding of the challenges facing the United States under Trump's influence. The episode serves as a compelling narrative on the intersection of politics, economics, and personal accountability in leadership.

Transcript

[Host/Presenter]

I'm ready for my life to change. ABC Sundays American Idol is all new.

[Donald Trump]

Give it your all. Good luck. Come out with a golden ticket.

[Scott Besant]

Let's hear it. This is immense world.

[News Anchor]

I've never seen anything like it.

[Host/Presenter]

And a new chapter begins. You're going to Hollywood. 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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[Host/Presenter]

World stands up to Donald Trump Donald Trump panics causing more market uncertainty, causing the markets to continue to tank. Donald Trump took to his social media platform and threatened that if EU does not remove the tariff on whiskey in retaliation to the United states putting a 25% steel and aluminum tariff on Europe, the US is going to put a 200% tariff on all wines and champagne. Donald Trump says this is going to help all of the champagne suppliers in the United States. Donald Trump doesn't realize that you don't make champagne in the United States. Here's what Donald Trump posted. The European Union, one of the most hostile and abusive taxing and tariffing authorities in the world, which was formed for the sole purpose of taking advantage of the United States, has just put a nasty 50% tariff on whiskey. If this tariff is not removed immediately, the US will shortly place a 200% tariff on all wines, champagnes and alcoholic products coming out of France and other EU represented countries. This will be great for the wine and champagne businesses in the U.S. it should be noted Donald Trump has a failing wine company in the United States. And then when it comes to the champagne industry, there is no champagne industry in the United States. On that news, the markets further tanked. So CNBC then interviewed Scott Besant, Donald Trump's treasury secretary, about these 200% tariffs. Here's what Bessant had to say.

[Market Analyst]

Let's play it and one or two items with one trading block. I'm not sure why that's a big deal for the market.

[Host/Presenter]

Very reassuring. I'm being sarcastic of course. To hear the Treasury Secretary says it's just one tariff against just a small little trading bloc, the eu. I mean these people are just absolutely idiots. The Wall Street Journal just did a piece tallying some of the recent warnings about consumers not spending money anymore as America heads into a Great Recession and potentially even a Trump depression. Walmart, McDonald's, Costco, Delta, Target, Foot Locker, Lowe's, Kohl's, Macy's and others have been quoted as saying consumers are just not spending money anymore. Consumer angst is striking all income levels. Signs of weaknesses are now showing up in spending on everything from basics to luxuries. Dollar General says our customers continue to report that their financial situation situation has worsened over the last year. Many of our customers report that they only have enough money for basic essentials, with some noting they've to sacrifice even on the necessities, even on the basic essentials American Eagle CEO says they have the fear of the unknown. Not just tariffs, not just inflation. We see the government cutting people off. They see programs being cut. They don't know how that's going to affect them. And when people don't know what they don't know, they get very conservative. Reuters reports that the US Corporate bond spreads hit its widest in about six months on recession fears. Also, one of the main things that we're seeing reach a spike on Google is Boycott usa. Boycott USA has spiked on Google in the past seven days with four EU countries and Canada topping the search list. We know that Canada has a very strong boycott against all things American and against American tourism. Unless Canadians absolutely have to be in the U.S. they're not traveling to the U.S. and they're not buying U.S. products. That's in addition to the retaliatory tariffs by Canada in response to the US Tariffs, we're now seeing those same boycotts spread to the European Union and spread elsewhere. One of the things we also learned is that Elon Musk's hyperactive efficiency drive failed to prevent US Federal spending actually rising. You got that right. Federal spending was rising last month when Elon Musk was destroying the lives of all of those government workers and shutting down those buildings. A record $603 billion last month. I wonder if all of those trips that Donald Trump was taking with Air Force One and driving around the NASCAR track and spending all that money at Mar a Lago, I wonder if that was adding up to this total. A record $603 billion in federal government spending last month, according to new treasury data has revealed, highlighting the Trump administration's difficulty and drastically cutting the size of government. In other words, nothing. While they cut the jobs, they actually didn't cut any spending at all. Completely inefficient. Oh, and by the way, you saw the story I did earlier this morning where they shut down their Guantanamo Bay facilities, where they said we're going to have 30,000 people here. They had like 180 nonviolent people and they just shut it down because they couldn't operate it. So what's Trump doing with all of this news? You saw the headlines that I read from you. A lot of those headlines you saw from the Wall Street Journal, right leaning, more conservative paper. Here's what Trump says. The globalist Wall Street Journal has no idea what they are doing or saying. They are owned by the polluted thinking of the European Union, which was formed for the primary purpose of screwing the United States of America. Their Wall Street Journal thinking is antiquated and weak and very bad for the usa. But have no fear. We will win on everything. Egg prices are down, oil is down, interest rate and tariff related money is pouring into the United States. The only thing you have to fear is fear itself. And Donald Trump posted that at 5:56am in the morning. We all know how we are feeling. Do not let these MAGA sociopath abusers gaslight you. We know what we're experiencing. We know we're heading into a recession and potentially a Trump Great Depression right now. Um, despite Donald Trump saying things are great, they are not. And here's how they're trying to spin it on Capitol Hill. Here's MAGA Republican Senator Bernie Marino. Here's what he had to say. He goes, look, things are good now. Just think about it. Yeah, things may be down 10%, 20%. People may have lost a lot of their life savings. He goes, but if Kamala Harris won, you'd be down 50%. That's their line now. If Kamala won, you'd be down 50%. So what you're down now is pretty good, all things considered. Play this clip. What do you want to say about the tariff fight?

[Scott Besant]

Look, we have to remember. Step back for just one second. We have to remember that if Kamala Harris had won on November 5, the stock market would be down 50%, business climate would be a total disaster, and his country would have been on a path to ruin. What President Trump inherited was a disaster from Biden. We're going to fix it. The other countries need our economy more than we need their economy. They've been ripping us off for decades, decades. And we want fair and reciprocal trade. And Canada and Mexico have, have to stop allowing fentanyl to come into this country and kill over 100,000Americans. When they actually do what's necessary to stop that, we're going to stop the tariff. Penalties will end.

[Host/Presenter]

You know when I see that it's an obvious fact check, right, that former President Biden handed Donald Trump an economy that was the envy of the world. GDP growth over 3%. Unemployment at record lows. Job growth hitting record highs. Former President Biden created over 16.4 million jobs. America's economy was the envy of the world. Former President Biden was reducing prescription drug prices. We had 40 to 50,000 infrastructure projects going up across the country. We had the CHIPS act, which brought the semiconductor industry back here to the United States of America. I mean, things were going well. Well, now you have Scott Besant going on cnbc and he's asked by cnbc. So, you know, the markets are going down a lot. Like, what do you, what do you make of it? And in Scott Besson, the Treasury secretary is like, well, look, we're not really focused on that. We're focused on the real economy, not what you're seeing. What does that even mean? Because we're focused on the real economy. You mean you're trying to do tax cuts for what the billionaires? I mean, that's, that's your focus while everybody else suffers. Here, play this clip.

[News Anchor]

Markets it's another sort of turbulent day here. The volatility has really picked up. We're down another more than three and a half percent for the week, almost 10% from the recent highs. I know that you guys have brushed this off, but I do wonder if you're starting to get concerned now that these losses are picking up.

[Market Analyst]

Well, look, Sarah, what we're focused on is the, we're focused on the real economy. Can we create an environment where there are long term gains in the market and long term gains for the American people? I think having been in the markets for 35 years, I know the market is prone to big unwinds like this. I think we've seen a lot of position unwinding and I can't really speak to that.

[Host/Presenter]

As Ahmed Baba says, the Trump administration's fundamental stance is that America needs to go through economic pain in order to achieve long term growth. The problem is all their economic policies will only lead to long term economic pain. It's nonsensical and they're tanking an already strong economy. Let's talk about foreign policy. We learned earlier this morning that of course, Russia and Putin have no interest in doing a cease fire. Although I reported on that before, that should have been obvious. So while Donald Trump and J.D. vance and Marco Ruby were like, we got Ukraine to agree to a ceasefire, we were like, look, they're just doing those Trump fake deal stuff again. But here's what the Trump regime is focused on. Trump White House has asked the US Military to develop options for the Panama Canal. Potential military plans range from partnering more closely with the Panamanian military to a less likely option of US Troops seizing the canal by force. Military plans to invade the Panama Canal. U.S. officials told NBC News the White House has directed the US Military to draw up options, including reclaiming the Panama Canal through military force. Donald Trump posts, the US doesn't have a free trade. We have stupid trade. The entire world is ripping us up. Then Donald Trump posts again this morning. Canada needs America America doesn't need Canada. And he citing Grant Cardone of Cardone Capital on Stewart and Varney. I mean, that's who he's citing, a huckster here from the Financial Times. Russia says it does not want a temporary cease fire in Ukraine. Republican Senator John Corden of Texas goes, putin doesn't want peace, he wants conquest. Duh, we know that, we know that. But Donald Trump has Putin's back and not who Putin's invading's back. Who's our ally? Zelinsky's our ally. Putin's the enemy. Who's Donald Trump supporting? As our Editor in chief Ron Philip Koski goes, I'm shocked, shocked. I tell you. Trump, Vance and Musk have been telling us that Putin wants peace. What, what happened there? Donald Trump on his social media platform, they're running ads like this. Do you approve of Doge? Yes, it's my money. No waste is great. As you saw before, they are cruelly getting rid of jobs, attacking veterans, destroying your Social Security, taking away your Medicaid, and they're not even reducing government spending. Government spending is up. It's up to record levels. Last month, last month. Oh, and then Donald Trump posts this. This is, this is one of his last posts from this morning. Secretary of Energy Chris Wright. Trump is a great businessman. Thank God for him. This is what Donald Trump has, his cabinet officials, they have to go on TV and just Kim Jong un it here, play this clip.

[Donald Trump]

President Trump is a businessman. Thank God he became elected president. And what we're seeing right now is a master negotiator practicing his craft. He got elected to lower costs and grow opportunities for American Americans. And he is working feverishly, seven days a week at that, bringing in other businessmen, having dialogue, some of which you see in public, most of which are happening behind closed scenes. But I could not be more optimistic. 50 days into this administration, we have seen simply tremendous achievements. And wait till you see what, wait till you see what happens in the next 50 days.

[Host/Presenter]

How embarrassing can you get? This is when he says that Trump is a master negotiator. Just take a screenshot of this image right here. This comes from Donald Trump's own SEC filing. This is from his own stock filing for Trump Media, which made like $4 million, $4 million in total revenue off $400 million in losses last year. So this is what I'm reading from the 10K. And it just lists all of his businesses that went bankrupt over the years. 1991, the Trump Taj Mahal. 1992, Trump Castle, Trump Plaza, Trump Plaza Hotel Chapter 11 in 1995. THCR Trumpet Entertainment and Resorts bankrupt 20042009 bankruptcies. The guy went bankrupt over and over and over and over again. Here are the Here are the businesses that Trump failed at Trump Steaks and Trump Vodka and Trump Mortgage. And you know, just go through Trump University. Just go through that. Take a screenshot of that. Like, he's been the worst business person in life. There's a reason this idiot has bankrupted everything he touched. He's an idiot. He's an idiot. He's not smart, he's dumb, he's psychotic. And yet these spineless Republicans follow this psycho. Just look at. Look at the. Look at what I said to you. Screenshot it. Read it on your own time. Thanks for watching. Hit subscribe let's get to 5 million subscribers. Can't get enough Midas? Check out the Midas plus substack for ad. Free Free articles, reports, podcasts, daily recaps from Ron Philipowski and more. Sign up for free now at midasplus.

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