Trump advisor ACCIDENTALLY admits EVERYTHING

Every once in a while, someone in the Trump administration accidentally tells the truth.And when they do, it's usually pretty revealing.I've got a great clip for you.Here is Kevin Hassett, one of Donald Trump's top economic advisers.He was asked, why are prices going up after the conflict with Iran?Not just gas prices, but like other prices.

And Kevin Hassett's explanation is, listen, you've got gas in a truck moving stuff to Walmart.If the gas costs more, stuff at Walmart is also going to cost more.Yes, that's right, Kevin.But that is not the great defense that he believes it to be.The stupid grin on his face suggests he thinks he's being clever.But let's watch the clip and I'll explain to you why this guy is just totally off his rocker.

What do you think the actual underlying rate of inflation is right now?And how do you bring that down?

Yeah, we the thing is that we've just had an oil shock.And when you have an oil shock, one thing we know is that top line inflation moves way more than core.But the core does move a little bit.And one of the ways you could think about it is that, you know, you've got gas in a truck moving stuff to Wal -Mart and the gas is more expensive.So the stuff at Wal -Mart has to be more expensive to genius analysis, Kevin.

Yeah.You know, we understand that.In fact, we've been talking about that for months.That's the point.That is the criticism.He's now conceding the criticism.

For years, Trump and Republicans told Americans inflation was Joe Biden's fault.If there was an increase at the grocery store, an increase at the gas pump, a shopping trip, that's a little more expensive.They blamed Biden personally.The president is sitting behind his desk.He's got a price dial.And he's just he can turn it up or he can turn it down whenever he wants.

And remember all of those.I did that stickers that people put on gas pumps with Joe Biden's face when gas was higher than one eighty seven a gallon, but well lower than it is right now.And Trump wasgiving speeches about inflation under Biden and every carton of eggs somehow was proof that Biden destroyed America.Now, Kevin Hassett comes along and he goes, look, if gas gets more expensive, transporting goods is going to get more expensive and therefore prices at Wal -Mart are going to go up.That's right.

That is how economists have been explaining inflation for years.Welcome to the conversation.What he's describing is called higher input costs.If it costs more to move stuff around the country, businesses generally pass at least some of those higher costs onto consumers.That is not like this shocking economics revelation.It's econ one to one.

If flour gets more expensive, bread and cookies, soft baked chocolate chip cookies with mountains of chocolate chips.They're going to get more expensive as well.If your electric bill doubles, the pizza shop is probably going to have to charge a little more for the pizza.It's not complicated.The question here is who made gasoline more expensive this time?Was it a global price shock due to a pandemic that had nothing to do with Biden?

Or is it because Trump said, you know what, even though I ran on no new wars, I think I'm going to start a new war.immediately affect 20 percent of the global oil supply, which goes through the Strait of Vermouth.And it's going to trickle down and make everything more expensive.He has the explanation, right?But it's that this time it wasn't some global situation.It was a choice that Donald Trump made.

you'll also help us reach our goal of four billion.If they contribute to higher oil prices, then, according to Kevin Hassett's own explanation, the higher fuel costs work their way down into the prices consumers pay.That's his argument.The same people who spent years insisting that every price increase was personally Joe Biden's fault are now saying you've got to appreciate the complexity of the global markets.Oh, we do.But the trigger, which is higher oil and gas, was Donald Trump.

And it's fascinating how all of a sudden they discover nuance when prices went up under Biden.It's the president has failed.Now, it's well, you've got to consider that global energy markets affect transportation costs.And then that's going to have an influence on retail pricing.Great.I that's it's great that you now are acknowledging that Trump chose to go to war with Iran.

And it's this almost perfect irony.Kevin Hassett is trying to defend the administration with this nuanced explanation.And instead, he ends up explaining why simplistic political attacks over inflation never really made a lot of sense in the first place.And he accidentally gives the most persuasive rebuttal to years of Republican talking points and squarely puts the blame now on Donald Trump.So it's kind of like, I mean, gee, thanks, Kevin.We already knew how this all worked.

The question is, when was his own party going to stop pretending that they don't understand how it works.And he finally is acknowledging it.Now, what I think is is logical as a follow through here is to apply the exact same standard to tariffs, because the same logic applies to tariffs.If you make gaskets more expensive input cost, then your final price for stuff is going to go up.Well, if now the importer, in addition to buying the product, has to pay a tariff on it, whatever they are manufacturing with that product is also going to have to get more expensive.And so I think we need to go further.

It's great that Kevin is acknowledging that this is how it works with gas prices to retail prices, but it's also the way it works with blanket foreign tariffs.to retail prices.If the steel you need to build the building now has a tariff on it, then it's going to make the building or the apartments or the office space rent or whatever costs more.He does understand it.They only pretend not to when they think it's inconvenient.But then all of a sudden they turn around very, very quickly.

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