Episode 85
Wall Street Carnage: How Trump Tariffs Are Wiping Out the Middle Class
Summary:
Dr. Jim discusses the significant financial turmoil induced by Donald Trump's tariff policies, which have resulted in trillions of dollars in stock market losses. He contrasts this with the stability of Social Security, warning against its privatization. Highlighting insider trading concerns, Dr. Jim alleges that Trump's billionaire allies benefited significantly from stock fluctuations. This episode raises critical questions about economic strategies, the safety net's future, and power dynamics in fiscal policy. Explore how these issues directly impact average citizens' financial security and the broader implications for US economic policy.
Chapters:
0:00
Economic Turmoil Due to Trump's Tariff Policies
1:15
Republican Efforts to Privatize Social Security
1:46
Impact of Privatizing Social Security on Retirements
2:16
Insider Trading Allegations Against the Administration
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Music Credit: Good_B_Music
Mentioned in this episode:
Left in Exile Intro
Left in Exile Intro
Transcript
This flies in contrast with the advice of hundreds of economists around the world and typical of a malignant narcissist, Donald Trump ignores all of that. Depth of knowledge to chart his own course. And what have we seen? We've seen complete chaos in the stock market and we've seen massive losses that for the average citizen who is invested in the stock market, you're talking about tens of thousands of dollars that have been wiped out thanks to his backwards economic and trade policy.
know what hasn't lost value? [:So when you hear that, ask yourself this question.
If Social Security was privatized, if all of the money that was taken out of our taxes for decades. Was put into the stock market, what would that have meant for the average person's retirement that relied on that income to make ends meet when they could no longer work?
with the stock market using [:You have clearly seen in the last handful of days that the administration is doing some massive insider trading and coordinating resources so that they can actually make a mint.
In fact. There's video out there that shows Donald Trump after the tariffs were called off, talking with his billionaire buddies about how one person made $2.5 billion and another person made $990 million. Thanks to quote unquote. Shrewd investment moves in the stock market during the tariff saga.
What does that tell you? This is a rigged game and the reason why they want to take Social Security down is so that they can gamble with all of our money in the stock market and make themselves rich while wiping us out.
