Legal AF by MeidasTouch - Trump Tanks as Market Spirals Down the Drain

Episode Date: March 31, 2025

Americans are waking up to the fact that Trump’s economic policies are not for them; and polling numbers show that they they understand that Trump is making their lives worse off, as the world economies and what used to be the US trading partners brace for “Liberation Day” on Wednesday, when Trump callously imposes tariffs around the world, pushing the US ever closer to a recession. Michael Popok puts on his Wall Street hat, and takes a close look at new polling numbers and economic data from around the world, as the Trump Economy is rejected. Dose: Save 30% on your first month of subscription by going to https://dosedaily.co/LEGALAF or entering LEGALAF at checkout. Remember to subscribe to ALL the MeidasTouch Network Podcasts: MeidasTouch: https://www.meidastouch.com/tag/meidastouch-podcast Legal AF: https://www.meidastouch.com/tag/legal-af MissTrial: https://meidasnews.com/tag/miss-trial The PoliticsGirl Podcast: https://www.meidastouch.com/tag/the-politicsgirl-podcast The Influence Continuum: https://www.meidastouch.com/tag/the-influence-continuum-with-dr-steven-hassan Mea Culpa with Michael Cohen: https://www.meidastouch.com/tag/mea-culpa-with-michael-cohen The Weekend Show: https://www.meidastouch.com/tag/the-weekend-show Burn the Boats: https://www.meidastouch.com/tag/burn-the-boats Majority 54: https://www.meidastouch.com/tag/majority-54 Political Beatdown: https://www.meidastouch.com/tag/political-beatdown On Democracy with FP Wellman: https://www.meidastouch.com/tag/on-democracy-with-fpwellman Uncovered: https://www.meidastouch.com/tag/maga-uncovered Coalition of the Sane: https://meidasnews.com/tag/coalition-of-the-sane Learn more about your ad choices. Visit megaphone.fm/adchoices

Okay, Martin, let's try one. Remember, big. You got it. The Ford It's a Big Deal event is on. How's that? A little bigger. The Ford It's a Big Deal event. Nice. Now the offer? Lease a 2025 Escape Active all-wheel drive from 198 bi-weekly at 1.99% APR for 36 months with $27.55 down. Wow, that's like $99 a week.

Yeah, it's a big deal. The Ford it's a big deal event. Visit your Toronto area Ford store for dot ca today. Good news, everybody. Wednesday is Liberation Day. It's like an Amazon sale day except the thing you're being liberated from is your paycheck, your wallet, and apparently the economy. Donald Trump threatening another tariff war, a reciprocal tariff war against every country more than a hundred or so that have tariffs with the

American people and his callousness extends to I don't care about you and your personal wallet. I don't care if prices go up, if inflation results for my tariff war because I'm gonna do a tariff war for tariff war sake, even if I as the president don't understand the ramifications of the tariff war. I do. I'm putting on my Wall Street hat. I'm here on Midas Touch Network and on Legal AF. Let's dive in. Monday, Finance Day. Let me explain markets. Markets like traders and brokers, investment bankers, they react in advance of things.

They bake into their decision making and calculus before the big event. Wednesday, liberation day according to Donald Trump. I don't know what we're being liberated from. He's already destroyed the tax base of the Internal Revenue Service. Let me just do the math for everybody. To run our government, I don't care what size it is, to pay on social security, unemployment, veterans benefits, Medicare, Medicaid, student loans, and all the things that go into dignity of

life, because we're not a purely capitalist country, no matter how much Donald Trump wants to make us so. We have regulations, we have protections for consumers, you know, for the little guy, the little person. Okay. In order for us to have enough money, we have to take in $5 trillion to lay out about $5 trillion. Even if you cut $1 trillion off by cutting off every social service program that people rely on. You're still short because you can't tariff your way out of wrecking the economic base and the tax base of the American economy.

You can't tariff to the tune of four billion dollars, four trillion dollars. The most you could possibly get in tariffs. The most is a trillion dollars. And that's probably double what it really is. It's really more like 500 billion dollars. Well, 500 billion dollars last I looked, and I'm not a math major, is not five trillion dollars. That sounds like we got a multiple of 10 delta there,

difference. But Donald Trump doesn't seem to understand it, doesn't care about it. The callousness of his interview with Christine Welker, where he said, well, she said, what are you gonna do about the tariffs and the import tariffs on foreign cars at 25%, which is the threat?

I don't care, I really don't care. They'll just buy American. Then you don't understand your own impact of your own economic policies because Ford and GM Make their cars in Mexico Parts you can't build an American car using American made parts You can't build an American car making American made parts You can't build an American car making American made parts. There are a high percentage of foreign import,

including from Japan and other Asian countries, in American cars subject to the tariff. So Ford and GM cars coming across the border are going to be subject to the tariff. So buy American doesn't work, Trump. Now, there's a fair amount of people who don't think that Wednesday is going to be tariff day but the brokers and traders do and look at when we woke up this week look at the world economies of the stock markets and how they're

reacting. The Nikkei index which measures Japanese stock market value down 4% the South Korean index down 3% the French index down 2%, the FTSE for the United Kingdom down one and a third, US economy, sorry, US stock market down one and a half to two and a half percent at the opening bell, which matches consumer confidence. Consumer confidence down its lowest in more than three years. Manufacturing confidence down to its lowest

in more than 10 years. Most major investment banks have increased considerably their prediction of a recession under Trump. Let's just call it what it is, a Trump recession and putting it now at a high of about 40%. Those are odds I don't want to take. Now, let me make it clear. I'm not wishing to have the economy in the tank in order to help the Democrats at midterm, but that's what's happening. I'm just observing and making commentary. Did you know the liver is the second largest organ in your body? It's responsible for over 500 functions, but for some reason liver health doesn't always get the attention it deserves. doesn't always get the attention it deserves. Over 30% of Americans have a sluggish liver,

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by going to dosedaly.co slash Legal AF or entering Legal AF at checkout. That's D-O-S-E-D-A-I-L-Y dot C-O slash legal AF for 30% off your first month subscription. So you have most major banks think we're going to go into the tank. We're going to go into a recession, a recession assiduously avoided by Joe Biden. Inflation is not going in the right direction and will boomerang up off the tariff war. Tariffs are just another way to get passed on to consumers and end up in there hitting their wallet and their purse. In fact,

most people in new polling, which is terrible for Donald Trump and great for the Democrats, most people think that he's a terrible steward for the economy. More than 60% believe that his economic policies are hurting them, which is a reversal from what the polling was on the day of the inauguration. Remember those days, that golden era when people thought Trump was actually going to help them? Well, the roles have reversed now. Only less than one quarter of American voters believe that they are better off today economically with Donald Trump than what they were hopeful about on the day of the election. Day of the election, sorry, day of the inauguration, more than

almost 50% said we're gonna do better with our purse and our wallets. You're not and you haven't at all. So Donald, because Donald Trump doesn't care about your kitchen table economics, your purse in your wallet. He cares about the oligarchs and the and the and the billionaires in his cabinet and their businesses. He wants to remove all regulation, he wants to stop the protection of the consumer stop the protection of workers, federal workers and labor unions. He's already done that before our very eyes. Gold, gold prices, that's where you go

when you're about to go into the bunker. That's when you when you grab all your canned goods from the COVID, COVID times and all your toilet paper and you head down to the bunker in your in your backyard, don't you have a bunker in your backyard, you invest in gold, because you think when you come up from the apocalypse, that's all it's gonna be worth anything. Gold prices are at $3,100 an ounce. 31, if you need a little extra cash,

I'm not doing an ad, go look for those old gold trinkets in your jewelry box and head down to a gold buyer. You'll do well in the Trump administration. Don't have gold because you don't have an economy because of Donald Trump? Well then you're SOL. US dollar down 3.7% against a basket of other currencies. Consumer sentiment, as I said, terrible. Now, let's talk about the contempt that Donald Trump has, the callousness that he has. See he wants to shrink the federal government down so small that you can drown it in a bathtub. But that doesn't reflect what you and I care about, Medicare, Medicaid, Social Security,

veterans benefits, healthcare and the like. He doesn't care about that. So will he actually not blink on Wednesday and impose those tariffs? He's going to blink. He's so erratic, which is not helping the world economy or the US economy either. He's so erratic that we don't know what he's going to do. And that's not a policy. That's just being erratic.

We're back on that roller coaster of lurching from one crisis economic or constitutional to the next with Donald Trump, exactly what we didn't want. That's how Biden got elected, by the way, wait till the calm, cool, collected Democrat runs for president. You don't think they're going to beat this chaos that Donald Trump is creating. The only thing people seem to like, and just barely, and it's not the Democrats or the independents, it's MAGA by large numbers, is immigration policy.

Apparently kidnapping people and sending them to El Salvador in the middle of the night without due process is okay with a majority of people, according to polling, although I don't really believe that. But that's the only one that he's winning on. But he didn't win the presidency on his immigration policy. He likes to say that he did, but that's not what happened. What he won the presidency on was his policy related to economics,

and that's the part that's failing him now. So look, where are we at the beginning of the week? My prediction is he's not going to, he is not going to do the tariffs on Wednesday. He's gonna pull back from that precipice, but he's gonna send the stock market tumbling. The consumer confidence is gonna continue to be in the crapper, and the recession,

we inch even closer to, is gonna be his ultimate undoing, based on the poll numbers. I'll continue to follow it through the lens of my experience on Wall Street right here on the Midas Touch Network. So until my next reporting, I'm Michael Popak. AF YouTube channel. Help us build this pro-democracy channel where I'll be curating the top stories, the intersection of law and politics. Go to YouTube now and free subscribe at LegalAFMTN. That's at LegalAFMTN.