Trump BLASTS His Own Voters Who Say Economy Is Worse

Let's turn over now to the economy, and here you have Trump being confronted with his infamous, I don't think about Americans' financial stability at all.And Trump says it's a perfect statement, and he would make it again.Let's take a listen.

You can imagine Democrats and political pundits jumped all over this statement that you made the other day.You were asked on the, when you were leaving.

The only thing that matters is that I'm talking about Iran.They can't have a nuclear weapon.I don't think about America's financial situation.I don't think about anybody.I think about one thing.You cannot let Iran have a nuclear weapon.

That's all.

That's right.That's a perfect statement.

I'd make it again.You can imagine how many people stopped the soundbite at, I don't think about America's financial situation.

So what's your response to that framework?It's very simple.When people hear me say it, everybody agrees.Short -term pain.It's going to be short -term pain.But the pain is much less than people thought.

It's much less than people thought.I'm sure that's very comforting at the pump whenever you're paying $3, or sorry, $4 .50 a gallon.You also have this Trump being confronted with a three -time of his voter saying that he's struggling financially.Trump says, I'm disappointed in the voter.Let's take a listen.

When you hear Trump voters, Alex says, I voted for you three times.He just, he can't handle the costs.And he's not for this foreign conflict.I hate it.He's not for the foreign conflict.But Roy in Pennsylvania, he's a retired farmer.

He can't handle the fuel going up.And he just, he says he's disappointed.

It's going to come down very fast.

Look, I'm disappointed.

I'm just talking about what they said.When you say to him, Roy, Alex, we got a problem.We just hit the highest stock market price ever, by the way, then, when I went in.Now, again.It's a problem.the war, it's higher than it was when I went in.

Think of that.The 401ks are at their all -time high.There are more people working right now in the United States of America than at any point ever in the history of our country.

AKA the Dow just hit 50 ,000.Quit your bitchin', Roy and Alex.So look, is it technically true?Yeah, it definitely is.So one year, literally a year, it's been a rip -roaring year for the S &P.It's up by 25%.

Now what percent of people even have a 401k?Only about 50 or 60, actually.

And then - Your farmer is self -employed, unlikely to be - Yes, I was about to say.

So if you are a self -employed farmer, the likelihood, statistically, that you are being responsible and saving for retirement, I wouldn't say zero, but it's pretty low.And if you are a contract worker and some of the younger, ironically, actually, because this was the first election, if I recall, where there was like a flippening, right, where people making over $100 ,000 a year voted for Kamala and people under 100 voted for Trump.Well, people who are making over 100 are vastly more likely not only to own stocks, but to have 401ks or traditional W -2 style job with matching percent while people making under 100 100 are much more likely to be either in the self -employed category or, you know, somebody who's like, you know, picking up a gig worker or shifts people, waiters, et cetera, the least likely demographic to actually have a 401k and have any exposure to the stock market.For them, they don't care about the stock market.So half of the nation of U .S.

workers don't even have a 401k and probably don't own any stock at all.And so when you tell them that the stock market is higher, they're like, yeah, we know because it's being built.off the backs of our labor, right?And so it's not really the point I think that Trump wants to make.And I mean, every single president falls victim to the Dow trap.I remember Obama saying it in 12.

Biden said it, his whole presidency.And it's like, how can you have lived through the 2020 to 2024 elections where, yes, the market was up dramatically, and you had a record number of people say, this economy is not working.Like, when are people gonna learn?I just don't get it.

Yeah.Also, he says this thing, oh, it's gonna be short -term pain for long -term gain.And how long has this war been going on for a while now?And if you're someone, if you're a farmer, for example, and you've got to pay for fertilizer and you've got to pay for diesel and you've got all these costs that are that are massive at the critical time in your year, you know, the short term has become very significant for you.You know, the I think the time horizon for a billionaire who can wait out, you know, some sort of economic crash and then swoop in and buy up distressed assets and profit off of it over on the on the bank.back end, which is what all these people do, very different from an ordinary person, certainly a farmer, again, who's in planting season and trying to make this whole thing work, very different time horizons.

So, for people who are struggling, and were already struggling, by the way, because Trump's economy has sucked because of his own decision -making, this has been already a long -term, this does not feel like short -term pain, and there's no end in sight.So the whole framing of this is, I don't think it's going to land, let's just say.Let me go ahead and play for you another disappointed Trump voter who called into C -SPAN and explained, you know, explained his whole thought process and how he feels like a fool for having bought into the rhetoric to begin with.This is fairly powerful.Let's take a listen to B -5.

I wanted to believe Trump was the real deal for a long time, even though I had doubts, because I knew enough about his business history to think otherwise.But now I regret my support for him, and I should have known better.He's a con man, doesn't keep his promise for himself, and he doesn't even try to hide his corruption anymore.So unless you all your information from what I call the right wing propaganda for profit, disinformation, media, industrial complex, He's the worst president we've ever had, and he's the most corrupt president we've ever had.I know it's hard.It took me a while to be able to say that.

Very difficult when you commit yourself to believing in somebody.I don't think it's one thing.It's been a cumulative process, and it's gotten so blatant now, and he's just literally, the things he's, you know, he's gonna lower prices on day one.He was gonna do this on day one.Only he could fix all this stuff.Now I understand how somebody like Adolf Hitler was able to brainwash millions of people.

I never thought I'd see that again in my lifetime, but it's happened, right?I thought we got past that, but we don't learn from history.But I just hope the best we got to slow him down, make him accountable any way we can.Right now, the only weapon is to vote for as many Democrats, whether you like them or not.Just get some balance back into our system of checks and balance.

And he did say at another point during that, that he was a three -time Trump voter.Like, this is someone who voted for Trump every single time.Now, it seems like he had some questions going into it.He wasn't 100 % sure, but he wanted to believe in Trump.He wanted to believe in the promises, and now he's like, he's making some pretty...

You know, not to shame or anything, but it is one of those things where some of these people, I mean, we talked about IVF now, for example, right?Remember those hundreds of thousands of people?Statistically, 100 ,000 people at the very minimum who voted for Trump because of IVF.Yeah.

like, dude, like, what were you doing?

Like, come on, there are, to me, there's a difference between broken promises, which had a realistic chance of actually happening.And then people who fall straight up for campaign rhetoric.I would put the Iran category in the most extreme, in terms of the opposite of what they ran on.Probably, you know, the single biggest reversal, genuinely, of everything, because it's really, it's not just about Trump, it's actually about all of the people who work for him, many of whom were even on this show.

Stephen Miller said, Kamala will send your sons and daughters to die in Iran.It was unambiguous.And now he's one of the biggest cheerleaders I know.Internally, he's pushing this thing, one of the biggest hawks.So, no, I mean, the guy now is a total con man.It's like obvious to see if you open your eyes up.

There was an element of Trump's, his like, you know, the con man behavior and all of that, where the honesty about his unscrupulousness was very attractive, I think, for a lot of his original supporters.Like, remember when they would call him out, like Jeb would call him out and be like, you donated to Hillary.And he's like, I donated to you too.I donate to all of you because you're all cool.Like, there was something about that that people were like, wow, you've got this straight talker, like somebody who calls it like it is.And that was like a shock to the system because it was.

It actually exposed like a lot of their bipartisan corruption.But I think this time around, the sole focus of this debate.campaign was this never would have happened if I were president.And I actually think it's an extremely compelling argument.He was like, look, the Ukraine war and the Gaza war never would have happened if I were president.Obviously, it's not really true, like in a sense, but it's very attractive.

And the sole focus of the campaign was I'm going to focus on inflation and we're not going to have any of these stupid foreign conflicts because I'm in power and I have better judgment.And that was another big contrast, I think, of the 24 campaign was you had the eggheads like the Jake Sullivans and supposedly these great neoliberal thinkers who were supposed to restore a sense of normalcy to our country.And they didn't.It was a total failure.Like we should not obfuscate their failure of leadership of this country from covid all the way through the international situation, et cetera.And so that actually made it the reason why people were willing to go with a Trump and RFK Jr. or Kash Patel and any of these people was it was a complete shock to the system.

They're like, look, we do need to have some sort of revolutionary destruction, I think, of these institutions, which again, I think is very attractive.Remember Doge, how many guys were obsessed with Doge?It was a cultural phenomenon, you can't deny.I think, though, what became clear was, very soon, is that the revolutionary destruction, and I've talked with Richard Hineni about this, because this is his theory of populism.He believes all populism eventually denigrates to Kazakhstan.which is basically like stealing.

And that's really what became clear.in the next one.fails and the level of incompetence and then the sole focus on Trump himself on either selling pardons out of the oval or total allegiance, which we're going to get to with Thomas Massey.It becomes clearer by the day that it's only just about Trump and has nothing to do with any of the milieu which he even ran on, right?Like, Maha is willing to debase themselves with glyphosate and they just have to sit there and eat a bowl of shit and go against a lot of the things that they ran.Many of the anti -war people who I knew personally in the administration are now shilling for the war.

You're like, I mean, my God, but As they put it, they're like, well, what are we supposed to do?There's, well, he's the president, like he made this.And you're like, yeah, I mean, that's technically true.Only Joe Kent had the courage to say, I'm out.Like, I can't do this anymore.But I think that on so many different fronts, you have watched You know, issues where even many of us agreed it was a total, complete, incompetent shitshow, turned the whole country against immigration is probably the prime example.

And then you also had tariffs actually, another one.I don't think Americans will support tariffs for like 50 years after this.There's going to be an inflation scarring as a result of tariffs.By the way, I think it's a disaster, because I think we need tariffs.But instead, everyone's going to be against tariffs.Everyone's going to be for basically unlimited immigration for the next 10 years at the very minimum.

And there's a lot of issues like that, which he poisoned the well on.And then on war, especially, going against that and getting our country into this quagmire, I think he put all that stuff together.And it breaks.It really breaks a lot of people.And I've seen it.I've seen it with a lot of voters and other people who are really enthused and excited to vote for Trump.

certain pointhe was going to reveal all of the wrongdoers, blah, blah, blah, and all this mythology around Trump and all the QAnon bullshit about how he was going to be the one that came up, rounded up the pedophile cabal and all the wrongdoers would be brought to justice, blah, blah, blah.And then it's like, yeah, we're going to do a massive cover up of this, actually, because my name is all over the Epstein files, personally, my name.And I'm going to call Marjorie Taylor Greene and tell her that she needs to not do anything to help in revealing any of this information because, quote, my friends will be hurt.I think that was a bit of an eye -opening moment for people who were paying attention, too.But, you know, to get back to where we are economically, some extraordinary comments made here from Speaker of the House Mike Johnson, who you described, you know, the Republican Congress is just slaves to Trump.

He is the chief slave to Trump and just goes along with literally whatever he wants.That's how he sees his entire job.And so he's tried to sell this idea that like, oh, we're going to get back to the kitchen table issues as soon as we deal with that straight -up hormones issue.When is that gonna be dealt with?What is your plan to deal with that?You mean the Strait of Hormuz issue that you guys yourselves caused by starting this war, that you are complicit in, Mike Johnson, because you guys in Congress want nothing to do with stopping this or having any say or control or power over putting our nation and our troops at risk?

Let's go ahead and play B3.

CBS News had some polling out this morning showing 76 % of people are concerned.67 % say they are stressed about their own personal financial situation.You know that generally the incumbent is punished in the midterms and people are feeling very uncertain about how they're doing personally.How do you campaign against that?

Well, this relates to the last segment.We were talking about the Strait of Hormuz.Really, all points lead back to that.Gas prices are too high because of that and then that has an effect on how goods are transported to the grocery store and all the rest.So as soon as we get that straightened out, We will get back to the kitchen table issues, the economic issues that we put in place to make the economy grow.The working families tax cut, the big beautiful bill, all the legislation we passed, put in pro -growth policies that will lead to bigger paychecks.

We already had the largest tax refunds we've had in a long, long time because of our policies.And so we're really excited, anxious for that to be resolved so that people will feel that.And I think they will before they go vote in the midterm.

So as soon as we get the straight arm ministry now, we will get back to the kitchen table issues.But to your point, Zuckerberg, what does that even mean?Because they already did their one big beautiful bill.I don't think people are feeling like that was all it was cracked up to be.A bunch of rich people got tax cuts that I'm sure they're happy about.But even the boomers are stressed about the gas prices and not happy with how this is going.

But we haven't heard a single additional like, this is what we'll do if we keep control of Congress.There is no real positive.no affirmative messaging here whatsoever.

Give money to Israel.if you want to give more money to Israel and extend more tax cuts for boomers, and what else?I don't know, the Save America Act, like, OK, sure, fine, great.

And protect a bunch of, like, criminal oligarchs from having to come and testify before Congress about their crimes.That's the other part of the pitch.

It's basically going to be a negative polarization pitch.One of the main reasons why a lot of Democrats or a lot of Republicans are not going to come out to vote is they're going to be like, what did you, what did you give me in two years?Like, seriously, what did you give me?And I don't think that, think about it, the timing of November couldn't be worse because of all of the retail hits that's going to happen, ripple through the economy all the way to November, which is inevitable.It's baked in at this point, on top of a miserable summer of costs.Like even if the war ended now, gas is not going below $3 .50 a gallon, period, at least for, I don't know, maybe a year, honestly.

I mean, JP Morgan and others said that the base case is that oil remains over $100 a barrel for at least another year in the markets.because of what's happened.I haven't talked about natural gas.We have thislatest news about AutoZone.Can we put B4 up here?

These are those little things, like with COVID, which you just never forget.And this is from an internal AutoZone memo.where they say, we are facing the largest supply shortage of lubricating fluids in modern history of America.Realistic middle -of -the -road estimates are for our average available supply in this product category to drop by 40%.So I'm assuming that this is like, you know, motor oil and changing or is it, I have an electric vehicle, so it's not really something I've thought about in a long time.But I mean, I am generally aware people need their oil changed and when they do, And there's always that one guy who changes it himself and is very, very proud of it.

And I feel like that guy in particular is gonna be the most hit because they go to go and buy it themselves and change it at home.But then also the dealers, the service costs probably.

Yeah, you're gonna show up at Jiffy Lube and be like, what the hell, why does this cost so much?

And I think that's where the stickers, or you may just not have any, right?That's the real nightmare scenario is that they're like, hey, sorry, we're rationing oil change.And so everyone will start stretching it for, you know.fast further when they're supposed to.And then you have more breakdowns, more car maintenance, more problems.And already I was reading about car costs.

A lot of people bought cars during the pandemic period.Remember when they were very, very high, the price.And so they're instantly upside down on their loans because the market has normalized.And so a record number of people are actually upside down on their car loan right now.And so when you add in increased cost of maintenance, you can't even get rid of the damn thing without paying.It's really bad.

put that up there, grocery prices in the U .S.surged more aggressively in April than any prior month in the nearly five years, which makes it so thatgrocery prices that would mean that have had a cumulative level of inflation of I mean, it's gotta be over 20 % in just the last five years.And that's where, again, you just start to see people radically shift their consumption habits at that point.You stop buying beef, you stop buying luxury products, you will go to Costco.

We've seen a flip, I think, in the amount of chicken consumed versus beef or stable proteins.More people buying name brand goods, or sorry, store branded goods as opposed to name brand goods.and McDonald's, remember, I think you guys, what was the segment you did about the Heinz?

No, it was the Heinz.Yeah, they're seeing, they said just like people don't have money.That was the quote from that CEO.And then Costco said, we've already seen the shift from beef to chicken.Now we're seeing the shift to like canned tuna, canned chicken.So those signs are rippling throughout the economy.

But don't worry, the stock market is really high.

I mean, it is high.It's great.If you've got money in the stock market, I can read a chart and I know that the vast majority of people, especially at the struggling end of the spectrum, are not going to have any benefit from it.Tucker had a good point where he's like, look, once gas goes to $7 a gallon, that means that you are affected by that, even when you make like half a million dollars a year.Because at that point, it's, look, it's not that you can't afford the gas price, it's just that that means that the level of input inflation from air travel to grocery price and all that becomes so high that even the richest 1 % of W -2 earners will be hit.He's like, if you don't make less than a million dollars a year, if you make less than a million dollars a year, you will feel it.

And I think that's true.

Think about, so a public transit in this country is complete shit outside of New York City.Every other place, you're basically like completely car -reliant.The minimum wage in this country is still federally $7 .25.If a gallon of gas is $7, like you're working an entire hour to afford one gallon of gas.The math does not math.That's already the case for a lot of people.

And so, you know, I don't think it penetrates.Here in D .C., it certainly doesn't penetrate for Trump, who's completely encircled by a bunch of, you know, literally the richest people on the planet is who he's talking to and who he's thinking about, whether it's he's here in D .C.or more, even more to the point, all the time that he spends down in Mar -a -Lago.

That's who he's surrounded by.He has no awareness or understanding of the way this has already hurt people.But it is showing up in the polls big time.We're going to do probably some dive into some of the polling tomorrow.I just thought there's a New York Times poll.I mean, the numbers on how people feel about inflation, whether their wages are keeping up with inflation, they are extremely dire.

And as much as people hate the Iran war, they have even lower ratings for Trump on his handling of the economy, which has always been one of his key strengths, is the biggest reason I think he ended up back in the White House, because people thought, oh, well, in the first term, I was doing better.He's a businessman.He'll make these deals.He's going to deliver for the American people.I really think that was it more than anything else.I totally agree.

And obviously that has been a complete failure in all of his own making.

Gass was a big selling point for his, you know, last thing on this.For sure.Gass was a big, remember all, I remember reading all these testimonies because we were, election night, we were like, wow, like look at this South Texas swing.Yeah.And I was like, what is going on here?Like, what happened?

Because it's not that people in South Texas, you know, you don't do a 40 point swing from nowhere.Some, a lot of it was cultural, definitely on immigration, but then I would read and it'd be like, well, Gass was a buck 90 when Trump was president.And I was like, well, you know, It was a pandemic too, but okay.But I would, enough times that I read either some version of I Got a Stimulant,which had Trump's name on it, or gas prices were low, that I was like, I got it.I guess it's a thing.

People really think it was Trump that made gas prices so low.So, you know, you don't discount that.And Trump, once upon a time, was not Mr. Oh, I don't think about American financial situation.He was, I mean, he was obsessed with gas prices by all accounts in the first term of his presidency.And the second time, it's like, they just, they literally don't care anymore.They're just telling you to sit there and take it.

One more element here, put B7 up on the screen, because these are things that could be coming to your neighborhood.tipping point looms for global energy crisis.This is from the Financial Times.And they write that nearly 80 countries have already introduced emergency measures to protect their economies as the world approaches a new, more dangerous phase in the energy crisis driven by the Iran war.So because we're a wealthy country, we are a little bit protected.We see it, the gas pump, we see the grocery prices increasing, you know, and that being tied to the Iran war, but we really haven't felt the full brunt here.

And we will never feel the full brunt in the way that poor countries do.I mean, they're talking about potentially 45 million more people being pushed into famine effectively.because of the shipping crisis and the way this ripples throughout the entire economy.So for a lot of places around the globe, this will be utterly devastating in a way that we will be somewhat protected from.But you know, these are the types of things that will be headed our way in terms of Analysts are saying, oh, we're unlikely to have shortages here.But, you know, analysts also didn't anticipate all of the impacts of the COVID -slash -Ukraine supply shocks.

So things could get extremely, extremely bumpy.And I think it's, you know, should be a real eye -opener that Trump's talking about short -term pain, that you already have 80 countries around the world that have had to institute emergency economic measures to deal with this.And some of them, like India is one of them.India is going, you know, coming in and saying,we've got to preserve our our currency.So don't take foreign trips.

You know they're don't don't purchase precious metals because we need to keep our store of them etc.So there is already in countries globally a huge recognition of what this is what this already means for them and what it's going to mean for them in the future.

Prime Minister Modi gave a speech like last week asking locals to stop buying gold to shore up his FX defenses.He didn't go so far as to tell them to stop traveling abroad.But remember Air India has canceled a significant amounts of flights.And I mean look it's it's For those of you who are not aware, gold is the lifeblood of Indian society.It kind of always has been.It is literally a gold craze society.

So for the prime minister to be like, hey everybody, please stop buying gold, that's a big deal.

They're obsessed with gold.

The amount of gold that my relatives, I'm like, I don't need all this fucking gold.

But apparently it's a - No, maybe it was a good thing.I mean, I guess.

There's a safety deposit box.They're like, okay.But yeah, these people are obsessed with gold.So for their prime minister to come out and say, oh, well, you shouldn't buy gold anymore.That's honestly pretty shocking for them.He also, you know, added other things, telling them about some of the problems that they may face and cooking gas and others.

I mean, this is the world's most populous country, so it's definitely something you have to pay attention to.And they may seriously face problems as things continue.you know, with their gas prices and everything, where they're trying to keep them at a lower level, but it is inevitable, you know, if this continues, that they may have to increase that amount, even with the massive amount of government subsidy and Russia and all that oil that continues to come in.So yeah, that's just there.And then Africa, I saw they're already warning about famine as of this year, the World Food Program and their ability to buy new goods.So there you go.