2469 - Trump's Tariffs Melt The Stock Market w/ David Dayen

Happy Friday! Sam welcome David Dayen from The American Prospect and Organized Money podcast about Trump's tariff-pocalypse.

https://prospect.org/ 

https://www.organizedmoney.fm/

First, Sam runs through updates on Trump’s global trade war, Congress’ attempt to regain authority over tariffs, South Korea’s impeachment of now-former President Yoon, Trump’s firing of national security officials, the Trump Administration’s public health whoopsie, the Senate’s budget reconciliation, the confirmation of Dr. Oz, Schumer’s polling, Trump’s attack on Brown University, DOGE vs. Social Security, and US aid to Israel, before watching Scott Bessent explain why good markets are bad and bad markets are good. David Dayen then joins to tackle the myriad insanities that led to Trump’s imposition of these tumultuous tariffs, walking through the nonsensical (and potentially AI-generated) formula Trump used to calculate them and the utter dearth of any complementary incentive structure or strategic targeting to go the tariffs, all suggesting that they’re perhaps more grounded in an attempt to bully and punish the rest of the world economically while working-class Americans pay the cost. After expanding on the Bessent “box” theory of Trump’s tariff agenda, Sam and David get in some solid digs at Schumer as they touch on Congress’ ongoing attempt to take back tariff power and ponder the future of a GOP turn on Trump’s economic sabotage, before unpacking what to expect from to the GOP’s ongoing budget reconciliation push. Wrapping up Dayen posits a strong theory on a Conservative push to use rising prices amid tariffs to justify tax cuts, before watching some open criticisms of Trump from Ron Johson and Ted Cruz.

And in the Fun Half: Sam tackles the return of Laura Loomer to Trump’s inner circle, now in the capacity as some form of National Security advisor, parses through some highlights from his appearance on PBD, including an attempt to address some Social Security misinformation, and watches Judge Jeanine make some blatantly incorrect statements about the future of the US economy. Plus, your IMs!

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