The MeidasTouch Podcast - Trump Gets SLAPPED IN HIS FACE by PISSED OFF Market

Episode Date: December 29, 2024

MeidasTouch host Ben Meiselas reports on Donald Trump causing serious unease in the markets by his horrible plans. Get you FREE Quote today at https://SelectQuote.com today! Visit https://meidastouch.com for more! 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

What's better than a well-marbled ribeye sizzling on the barbecue? A well-marbled ribeye sizzling on the barbecue that was carefully selected by an Instacart shopper and delivered to your door. A well-marbled ribeye you ordered without even leaving the kiddie pool. Whatever groceries your summer calls for, Instacart has you covered. Download the Instacart app and enjoy $0 delivery fees on your first three orders. Service fees, exclusions, and terms apply. Instacart. Grocer $0 delivery fees on your first three orders. Service fees, exclusions, and terms apply. Instacart, groceries that over-deliver. Whether you own a bustling hair salon or a hot new bakery, you need business insurance that can keep up with your evolving needs. With flexible coverage options from TD Insurance, you only pay

for what you need. TD, ready for you. Discover the magic of Bad MGM Casino, where the excitement is always on deck. Pull up a seat and check out a wide variety of table games with a live dealer. From roulette to blackjack, watch as a dealer hosts your table game and live chat with them throughout your experience to feel like you're actually at the casino. The excitement doesn't stop there. With over 3,000 games to choose from, including fan favorites like Cash Eruption, We'll be right back. to miss out. Visit BetMGM.com for terms and conditions. 19 plus to wager Ontario only. Please gamble responsibly. If you have questions or concerns about your gambling or someone close

to you, please contact Connex Ontario at 1-866-531-2600 to speak to an advisor free of charge. BetMGM operates pursuant to an operating agreement with iGaming Ontario. You know, to all the big tech out there, you're going to F around and find out. I mean, Donald Trump was sending a message to Elon Musk publicly on Trump's social media platform that Bill Gates asked to go and meet at Mar-a-Lago. And Donald Trump's like, Elon, when are you coming back to Mar-a-Lago? And we've seen big tech show up at Mar-a-Lago and kiss the ring. Well, here's the headline. Markets stumble as Wall Street sells off big tech. Perhaps big tech's realized with all of its stock buybacks and

all of its kind of gimmicks that it is going to be exposed. So perhaps it's cozying up to Donald Trump because it wants itself to have a bailout. Perhaps that's one of the things that's going on. I mean, look, take a look at the stock market again on Friday. The Dow Jones was down almost a percent. It was down 333 points. The Nasdaq was down almost 1.5 percent. It was down nearly 300 points. The NASDAQ was down almost 1.5%. It was down nearly 300 points. The S&P 500 was down

1.11%, down 66.75 points. And as CNN reports, markets stumble as Wall Street sells off big tech. I did a report earlier this week about how all of these companies have valuations that far exceed what they actually should be based upon their earnings, based upon their revenue, and based upon their EBITDA or profits. Here's the headline from CNN. Markets stumble as Wall Street sells off big tech. U.S. stocks ended Friday in the red, closing out a lackluster week despite a year of historic highs. Hmm. I wonder what was happening earlier in the year with those historic highs. Who was in power at that point when we would be doing these reports and we would be hearing another record closed,

the Dow, the Nasdaq, the S&P is setting another record. By the way, y'all remember, what was it, two weeks ago or three weeks ago at this point when Donald Trump went to the New York Stock Exchange and all three of the indexes, the Dow, the S&P, and the NASDAQ went down when Donald Trump was there and brought out all of his propaganda stuff. And then Donald Trump was asked by Jim Cramer, the CNBC business host, or he's masquerading as that. So, Donald, should American workers invest in the stock market? Y'all remember what Trump said? Trump said, I don't know. It was a softball question. Should American workers invest in the stock market. Y'all remember what Trump said? Trump said, I don't know. It was a softball question. Should American workers invest in the stock market? You are Mr. Accordion hands. You've

made all of these promises. Trump goes, I don't know. I'd be worried. If there's a dip, they're going to get hurt. If there's a dip, they're going to be hurt. That's the message you're sending to the markets? Seriously? Donald Trump had also said he can't control the prices. It's going to be too hard to bring down the price of goods. And look, since the election, egg prices are up, up, up. Mortgage rates are up, up, up. That's not a good thing. You want that to be down.

Donald Trump already lying about his promises and we got to hold him accountable. Let's just take a look at this article. The Dow was lower by 333 points. Shares of Tesla closed lower by around 5% while Amazon, Alphabet, which is Google, Microsoft, and NVIDIA lost about 2%. Most of those people have their CEOs kiss the ring at Mar-a-Lago. The magnificent seven group of high-performing tech stocks, Alphabet, Amazon, Apple, Meta, Microsoft, NVIDIA, and Tesla, has accounted for more than half of the gains so far this year as they benefit from intense investor focus on ways to play the artificial intelligence boom, according to S&P Dow Jones indices. Analysts have long cautioned that the market's reliance

on a handful of names exposes the stock market to potential trouble should the group stumble. If few of these companies fail to beat an elevated bar for positive surprises, there is a risk they would also fall together, said Keith Lerner, chief market strategist for Truist Wealth. I would prefer a broader market where mega cap growth stocks do well and other segments are doing well. So if one area falters, another segment picks up the baton. Bitcoin's tremendous late year rally also fizzled as traders look to profit taking. The

cryptocurrency had dropped to around $94,000 by late afternoon on Friday after topping $106,000 earlier this month in hopes that Trump would usher in a crypto-friendly administration. place right now. So look, I'm focused on life insurance. So I don't just protect my family now, but I protect them in the future. And so for me, when I go think about life insurance, I want to make sure that I'm getting the best. That's why I go to Select Quote. Select Quote is one of America's leading insurance brokers with nearly 40 years of experience, helping over 2 million customers find over several hundred billions of dollars in coverage since 1985 which is the year i was born other life insurance brokers offer impersonal one-size-fits-all policies that may cost you more and cover you less but with select quotes licensed

insurance agents they work for you and they'll tailor a life insurance policy for your individual needs in as little as 15 minutes. And that's what they did for me. So another thing, too, if you're worried about pre-existing health conditions, if you're worried about high blood pressure or diabetes, that's fine, too. Just give SelectQuote a call. They'll walk you through it and they'll make this a very easy and seamless process. And they'll ease your mind the way they did for me. So get the right life insurance for you for less at selectquote.com slash Midas. Go to selectquote.com slash Midas today to get started.

That's selectquote.com slash Midas. For Trump, crypto friendly meant he did that deal with the Chinese crypto company, that guy who ate that banana for $6 million, who invested in Trump crypto, basically giving Donald Trump a profit of about $15 million while that dude was under investigation by the SEC. Remember this headline from a week ago or so? Trump now says bringing down grocery prices as he promised will be very, very hard. Really? Seriously? I mean, again, how MAGA people can look at this while Donald Trump is in Mar-a-Lago bragging about Bill Gates showing up and Elon Musk is calling the MAGA base the R-word over and over again. He's saying that they're dumb and they're stupid and they're the R-word and that they shouldn't have a voice and that they should just listen to him and his views,

that he needs immigrants from India to fill these jobs because Americans are not smart enough. Elon and Vivek Ramaswamy are saying all the while that Donald Trump is doing this. By the way, a bunch of you at The Mightiest Mighty shared your own personal experiences with me in one of the last videos I did. I thought I'd share it. Lee writes, milk a month ago at Walmart was $2.89 a gallon. I purchased milk last night and bread. The milk was $4.09 a gallon and the bread was $4 a loaf. My point is Trump hasn't even taken office yet, and they're already raising prices.

Make that make sense. Hashtag greed. It makes Trump sense because this is what happened during the first Trump administration. It was obvious what was happening. It was price gouging. It's corporations run wild right now, and they got the green light from donald trump that's why trump's saying he can't control the prices it's too hard his buddies his cabinet worth nearly a trillion dollars they're the price gougers they're the private equity that's buying up the homes and stopping the supply so that the prices go up. They're the problem. They're the CEOs and venture capitalists in private equity who are screwing the country. That's what's going on.

Another commenter said to me, Ben, I don't see eggs for any less than $4 a dozen. Grocery prices are only rising in my area. I will be making changes to my 401k this week into ultra-conservative, low-risk investments. Trump decimated my 401k his last term because I didn't act proactively, but reactively. It was too late. The damage was done and I lost 30% of my retirement savings. Thanks to Joe Biden for bringing it back, but since Trump got elected, one small little bump during the first couple of days following, but now it's back down and stagnating like the last time he was in office.

I like this one from Lars. This is so true. Remember just a few weeks ago, Trump didn't even know what the word groceries meant. And when he found out, he tried to implicate that he himself had come up with it. He tried to say he made up the word groceries. So do you think he's going to lower the price of something that he thinks he just invented if he doesn't know what the word groceries meant? Another commenter over here says the following. I came home with four bags of groceries last week, only one package of meat, ground turkey, and no sweets or cleaning products. The cost was $198. I did buy eggs and the price was $5 per dozen. So I bought four dozen since this was a lower price than normal. They were

free range and organic eggs. The same four bags of groceries back at the beginning of 2021 would have cost between $90 and $100. Judy goes, there was a man watching his grocery bill going up. He started complaining to me about Biden. I told him, you better do some research. Our prices were better than any nation until Trump won and started running his pie hole. Even showed him a Midas short. He didn't believe me. We are the resistance. We will not obey good trouble, times Slava Ukraine. Another commenter writes, you cannot easily wean the egg industry off higher prices. Once they get used to higher rates of return, it soon becomes incorporated into their balance sheet. When's the last time you got a rebate or a rate reduction from your auto insurance, your utility bills, or your

health care provider. Unregulated business practice follows the pirate code. Take all you can get, give nothing back. And Deborah writes to me, prices are going up right in front of our faces. They're laughing all the way to the bank. I showed a photo in one of the last videos I did of people in Argentina lined up the same way there were food lines when Trump was in office during the first Trump administration. The cars were lined up of people going from Argentina to Chile to buy cheaper goods in Chile.

And this person goes, and by the way, the leader of Argentina, Javier Millay, he's like the poster child for how MAGA wants to impose austerity measures on Americans. They want to do that chainsaw austerity measures that Javier Millay did. And this person makes a great point. You know, That pick of Argentinians flocking to Chile, that might be a glimpse of what Trump could do here in the near future. It might be Americans flooding into Mexican border towns to buy cheaper goods. So I thought it was important that I share that with you. Here are the lines right there. And just take a look. This is Christmas at Mar-a-Lago right here. And so to all the MAGAs out there in Grand Rapids, Michigan, or New Castle, Pennsylvania, or wherever, right? I mean, you think you're going to be invited to this party

right here? You think these are the people who are with you your, you think these are the people who are with you? Or you think these are the people who are laughing at you? What do you, what do you, what do you think about that? And then ask yourself, why is it that Donald Trump just appointed oligarch after oligarch to his cabinet? You think they're looking after you? Really? Really? Thanks? Hmm. Thanks for watching. Hit subscribe. Let's get to 4 million together. Love this video?

Make sure you stay up to date on the latest breaking news and all things Midas by signing up to the Midas Touch newsletter at MidasTouch.com slash newsletter.