The MeidasTouch Podcast - Fox News Crashes on Air as Trump Faces Fatal Backlash

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Starting point is 00:00:25 We'd love to talk. Business. State regime media, which calls itself Fox News, collapsing live on air, they have no clue how to save Donald Trump, who continues to plummet. Even in the Fox polls, Donald Trump is the least popular president in modern presidential history. Fox poll shows that Donald Trump is in full death spiral mode right now. Let me show you what they're trying to do. On the one hand, they had people like Larry Kudlaw, a host on Fox business.

Starting point is 00:00:58 And I put business in quotes saying, I think affordability is just like such an overrated issue. It's like so overrated. Here, play this clip. There are issues on some of these prices, although I think affordability is greatly overrated. But on the other hand, they have hosts who talk about how the unemployment rate going up to 4.44% based on the September unemployment figures is really bad, like bad, bad. And it's going to get much worse when we get. yet October's numbers. Here play this clip. The unemployment rate going up to what is a cycle high of 4.44% if you look at the full number. And it's not good news. Because if you look at

Starting point is 00:01:42 these are people entering the workforce. Yeah, not so much. The way that the Bureau of Labor Statistics calculates this, they interpret the numbers as follows. They use a Census Bureau population estimate to inflate the survey sample size to the U.S. population size. So the number that they're using, the census number they're using for population growth is based on a comprehensive population update that was done at the end of last year. Chris Lowe, the economist, adjusted for known border crossings and deportations. Now, under President under President Trump, the actual numbers likely showed that half that number that was used in this calculation is reflected half that much labor force growth.

Starting point is 00:02:42 So cut that labor force growth number in half that is near zero employment growth in the household survey used to calculate the unemployment rate. So the unemployment rate based, and so an unemployment rate that is still 4.44 percent. That is the ratio in the sample. That so it's like if you adjust the calculation, it's not because of good news. So you see they're not really sure how to position Donald Trump's crashed right now. So they go back and forth. So then they got to bring on Treasury Secretary Scott Besant and this arrogant guy who lived in like a pink replica of Barbie's Malibu Mansion. I kid you not in Charleston, South Carolina. It was like literally the replica.

Starting point is 00:03:27 like $22 million. This guy's like basically a billionaire. And here's what he had to say. He's like, you know what? The real issue here was the Schumer shut down. The Schumer shut down made things worse. And now we're going to see the GDP for the fourth quarter be really bad. Here, play this clip.

Starting point is 00:03:46 And is this why the Fed is sending signals to the market that they may not be lowering interest rates, which seemed to be what took the market. in part down at the latter part of the day? Laura, I think there are a lot of signals coming from the Fed, and some of them are very confusing. They said that they don't have data, and traditionally, if you don't have data, if you're flying blind, they've cut twice, and they said that their insurance cuts, so I would have thought that they would want to take out a third cut, more insurance, and also, we know that under the Schumer shutdown that the economy got worse.

Starting point is 00:04:33 So, you know, I would believe that the Fed should be looking at the data and thinking things could, we don't know where things are. We've been cutting and we should finish the cutting cycle or keep going with the cutting cycle because, again, the fourth quarter of GDP will take on a definite hit from the shutdown. No one buys it. No one buys what you're selling, that it's the, no one called it to Schumer shutdown. Everybody knows that Trump controls all of the branches of government.

Starting point is 00:05:12 He has ruled as an authoritarian and y'all are accountable. And the Republicans in the House took a vacation. We all know, as you covered up the Epstein files, we all know what you were doing. Then Treasury Secretary Scott Bessent over here. says, but the one thing we're not going to do is tell the American people they don't know what they're feeling. Donald Trump's out there saying golden age. They literally lie about everything in the worst ways here. Watch what Besson says. Here, play this clip. And I think what we are going to see, just as we saw in the Boeing plant, in this rare earth magnets plant, we are going to

Starting point is 00:05:53 see these trade deals turn into jobs and look i i the one thing we're not going to do is tell the american people we they don't know what they're feeling like the biden people did you know they said it was a vibe session you don't realize how good you are shut up move along and we believe that the policies are right for the country and that we will see a substantial non-inflationary acceleration. So after Treasury Secretary Scott Besson says, the one thing we're not going to do is tell the American people that they don't know how they're feeling. Then they bring on national economic advisor, national economic advisor. And this guy goes, Kevin Hassett, he goes, factory jobs are picking up. Like factory jobs are doing good, construction, manufacturing. No,

Starting point is 00:06:44 the jobs report was bad. Construction, manufacturing, transportation, all. All of the sectors, bad right now. Here, play this clip. One area that we can look at is manufacturing jobs. And you just made an argument for why we may not have seen strength there so far since President Trump took office, but that you expect, when you expect those jobs to actually kick in, if they're building those factories and facilities now, when does that really kick in, Kevin? Right.

Starting point is 00:07:15 Well, it's, first, the factory jobs are, you know, are picking up. So they're quite literally telling people what they want to hear, but it's a lie, and people know it's a lie, and they know when they hear it that it's a lie. You ever have that moment where you think you know your budget, like your spreadsheet says you should have more money left over, but your bank account is telling a very different story? That was me, and that's exactly why I started using Rocket Money. Rocket Money is a personal finance app that helps find and cancel your unwanted

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Starting point is 00:09:06 Lutnik, Howard Lutnik. And Howard Lutnik goes, okay, here's how we're doing with, here's how we're doing with affordability. Like, you know, that's a Lutnik. Here's a Lutnik. Here's how we're doing it. What you see, what we're about to do, it's going to be major. We're going to deal with, we're going to deal with coffee. We're going to deal with bananas. We're going to deal with all of this stuff. And so what he's talking about is they're going to remove their own tariffs on these products because their tariffs made things more expensive. And now they want us to applaud them for removing the tariffs on the things we warn them would make things more expensive. Here, play this clip. Howard Ludley, let me ask him, are you changing, or changing at the margins of trade policy?

Starting point is 00:09:49 Because a lot of people were very, very happy. You pulled the tariffs on coffee and meats and fruits and bananas and whatnot. Those struck some people, and I was skeptical myself, a little bit punitive tariffs, not really, not really reciprocal tariffs. So now you pull them, prices are going to come down. Is this a significant change in trade policy? No, if you understand where Donald Trump comes from, so when we started this process on April 2nd, he wanted, as you know, trade deals. Let's just go make trade deals. If a country makes a trade deal, we'll give them coffee, we'll give them cocoa, we'll give them bananas, we'll give them papayas, we'll give them generic drugs, we'll give them all these different things if they do a trade deal with us to make sure our exporters, if you produce in America, you can export your goods. finally the president has got your back and let you manufacture in America and sell it, all right?

Starting point is 00:10:46 And what happened is the president said, look, it's been six months. It's time. Let's just wipe the slate clean. If people haven't made deals with these smaller countries, it's okay. Let's cut the price on all these unavailable natural resources. And let's focus on affordability. So what you're going to watch is the president's going to focus on the small things that touch the American's pocketbook and he's going to bring them all down. He's going to use the power of what he is created to bring these prices down. I just want you to think about this even like from the perspective of like Brazil, right? Brazil did nothing.

Starting point is 00:11:25 Like in like they like Brazil was had a trading deficit. The United States had a trade surplus with Brazil, a good trading relationship with them. They're big democracy that doesn't mean they're perfect by any stretch. We had a good trading relationship with them. Trump was pissed that their insurrectionist former president, Jair Bolsonaro, who's a MAGA guy, a MAGA puppet, was prosecuted and he's thrown in jail for like 21 years. So Trump hits Brazil with like 50% tariffs. He's like, look what I'm going to do. And Brazil's like, well, that's disrespectful.

Starting point is 00:11:57 Why would you do that? And then Donald Trump just this past week removes the tariffs against Brazil on coffee and things like that because Trump realizes that he's just, you know, that affordability is a real. thing and he's screwing over the american people so then you have uh more treasurer more commerce secretary howard lutnik right here says what you really got to focus on is that the job numbers the second half of next year is what we're focused on the second half of next year here play this clip the factories are going to come online you are going to see job numbers in the second half of next year that are going to blow you away and these are just the right kind of jobs we've got to train these people we've got to get those people in America into the workforce for these great paying jobs and I think really America

Starting point is 00:12:46 the golden age which Donald Trump talks about he is literally saying we are going to build manufacturing in America and these jobs are going to blow the numbers away then he's like yeah next year the second half is great and next year we'll see six percent GDP so we went from treasury secretary Scott Bessid saying the GDP in the fourth quarter is going to to collapse because he's like the Schumer shut down. And then you have Commerce Secretary Howard Lutnik saying 6% GDP next year. You're playing this clip. But the construction jobs alone, you can't invest $3 trillion a year without driving our GDP off the charts. You're going to see fours, you're going to see fives, and you're going to see 6% GDP growth under this president

Starting point is 00:13:35 because the factory is coming home. The tariffs are bringing them home. you have never seen construction the way you're going to see it and then when these factories come online wow are you going to see numbers nobody's ever thought possible right this is the common tactic of a scammer and a con artist right your wealth is right around the corner it's right around the corner just wait we have 22 trillion dollars 23 trillion you're gonna get so rich you're not gonna even know what to do with it just wait just wait next year's your year just a bunch of con artists back to treasury secretary scott besant he's like and you know if something

Starting point is 00:14:13 happens with venezuela wink wink wink like if we invade them and take their oil then maybe oil prices will go down this is what they're saying here play this clip the the peace deals we are seeing a peace dividend from that and i think there's a very very good chance that if something happens with russia ukraine if something happens down in venezuela that we could really see oil prices go down even more and oil and gasoline prices are down substantially under president trump and that is really the key to affordability is lower energy so energy goes into food prices then fox brings on rick scott rick scott who was in senator from florida who made his money being involved in the biggest Medicaid and Medicare fraud criminal case against his company in history.

Starting point is 00:15:09 He invoked the Fifth Amendment like 75 or 100 times. I mean, the guys literally waste, fraud, and abuse and criminality based on what his company did all in one. And he invoked the Fifth Amendment. And so he's the Republican guy who's running their health. Like he's like, he's our health care guy, the Medicaid, Medicare fraud guy. Go look up Rick Scott's background. Google.

Starting point is 00:15:32 Rick Scott, fraud, Medicare, Medicaid. This is the main Republican guy on this. And he goes, and this is with respect to the Republicans creating a law that pays the Republican senators half a million dollars. And Rick Scott's like, I don't need that money. Because you made hundreds of millions of dollars on the Medicaid and Medicare fraud company.

Starting point is 00:15:54 Here, play this clip. Walk us through what we're talking about here because here's the headline on the journal. Outranged House lawmakers vote to strike. $500,000 payouts for senators. They say that the House voted Wednesday night to repeal this Senate-crafted provision that could grant GOP senators at least half a million dollars each in taxpayer-funded damages. How do we know it's half a million dollars? Well, I mean, first off, the provision was put in there. Unfortunately, most of us didn't know that it was in there.

Starting point is 00:16:27 And most of us are, you know, like, I don't need to make money off of government at all. What's frustrated to me is we, what we should have is how do we do something to hold Jack Smith accountable, Judge Bozberg accountable, the people that made these decisions, if Christopher Ray was involved, American Garland, how are they going to get held accountable? That's what I'm after. Then they bring on Tom Cotton about the war crimes being committed, and they don't call it that. And Tom Cotton's like, you know how we know they're not war crimes? Because CNN isn't interviewing the people who were killed? or were they CNN should interview the family?

Starting point is 00:17:04 You don't think the family members of these people who are killed in the boats fear for their life? Anyway, here's what Cotton says. Are you comfortable with our military buildup in the Caribbean and around the Venezuelan coast? Some Democrats and maybe even some Republicans like Rand Paul are not. Certainly, Brian.

Starting point is 00:17:23 We've done a great job of destroying these drug traffickers boats which is stopping deadly poison from coming into our country. Secretary Rubio has said that all of these strikes are supported by multiple sources of intelligence. That's correct. You can also use your common sense. If any of these have been boats full of fishermen or refugees, CNN International would have already been on the ground and interviewed all their families and told their stories. I think we can be confident that all of these strikes have been against cartel-based drug traffickers who are destined for the United States.

Starting point is 00:17:55 And then finally, even though this is not technically on Fox, it's on its sister company's podcast, New York, the New York Post. And here is Caroline Levitt on the show, and she says that what Donald Trump does when world leaders show up in the Oval Office is he sprays them with cologne and perfume and he sniffs them. And he sniffs everyone in the Oval Office that shows up. If he likes you, he sniffs you, and you just have to let him do it. Here, play this clue. The president went, the Syrian president came in and President Trump sprayed perfume all over And I just wondered, like, did he smell? No, let me tell you, that happens all the time,

Starting point is 00:18:38 not just the Syrian president, but I've seen it with other foreign leaders. I've seen it with members of our cabinet, myself. He has a cologne and a perfume, yes. He's just showing off his wonderful sense. He's very generous. Wow, wow, wow, wow, what do you even make of that? That's what's going on on Fox and New York Post. Let me know what you're thinking.

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The MeidasTouch Podcast - Fox News Crashes on Air as Trump Faces Fatal Backlash

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