November 6, 2025 • 8 mins
Despite Trump's constant remarks about the great state of America's economy, the reality of the situation is dire. Steve Schmidt looks at the state of the American economy and why Trump's lies will have a terrible impact on our country.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
It is Thursday, November sixth This is the warning, and
the American economy is melting down. But the good news
is Trump has learned a new word. It's a big one.
It's affordability.
Speaker 2 (00:13):
And the country is doing work very well. But as Republicans,
you have to talk about it because if you don't
talk about it. You know, I saw that they kept
talking about affordability. Well, Biden was a disaster with affordability.
He had the highest inflation rate in the history of
our country. But you have to talk about it. It's
no good if we do a great job and you
don't talk about it. And I don't think they talk
about it enough. You know, they have this new word
(00:34):
called affordability, and they don't talk about it enough. The
Democrats did, and the Democrats make it up because we
took over a mess.
Speaker 1 (00:44):
Now it's not something that Donald thinks about very often,
at least not in the context of the way that
normal Americans do. Donald thinks about affordability and increments of
hundreds of millions of dollars in cash and billions and bigcoin.
But at any rate, let's watch Donald connect to the
concerns of the average Americans who just repudiated him and
(01:09):
his sick Maga party from coast to coast by mentioning
the presence of a beautiful you guessed that Saudi princess
in the audience.
Speaker 3 (01:19):
What's happening?
Speaker 2 (01:20):
Grocery prices are way down and Walmart? Walmart just announced
at the cost of their standard Thanksgiving meal, this is
the greatest, their greatest, They're wonderful. They come out every
year with how much does the thanks Giving meal costs
compared to last year?
Speaker 3 (01:37):
Right?
Speaker 2 (01:38):
And it always goes up up up. It's forty percent,
thirty percent more. Is twenty five percent lower than one
year ago. Isn't that great? That's a big deal, Rema,
that's our big deal. I don't know if they care
about that in Saudi Arabia, but here it means a loss.
We got the princess here from Saudi Arabia. It's got
a lot of cash, yeah, serious cash. And she's a
(02:02):
great person, So shere's a care about the price of
a turkey is down a little bit.
Speaker 3 (02:07):
You know, she just have to worry now.
Speaker 1 (02:10):
Ted Cruz understands what's happening. Sean Hannity does not. Sean
Hannity believes sometime in the next year, the economy, well,
it'll start to turn around, perhaps on the back of
all that investment that Howard Lutnik talks about.
Speaker 3 (02:28):
Let's watch, this is the super Bowl.
Speaker 4 (02:32):
This was the super Bowl of trade, right trade? And
this was it, you know, even missing was walk on
and walk off music and a halftime show. I mean,
this was it and there were fireworks all the time.
But think of some of these questions, like Justice Kavanaugh says,
imagine a meeting in the Oval Office with the president
(02:52):
where and this was his cross examination of their lawyer,
and he says, you've said he could embargo, he could
cut off raid with any country, and their lawyers said,
I agree. He goes, imagine telling the president in the
Oval Office, sir, you can blow up trade with this country.
And he goes, that seems too much. Can I put
a terrify on him and do a little less? And
(03:13):
they say, no, sir, you can. And Justice Kavanaugh says,
that seems like a very odd donut to me. I mean,
how could you let that happen? It just didn't make
sense that justices were on the president's side. You're hearing
it here from me. President Trump is going to win
this case.
Speaker 1 (03:31):
The important thing to comprehend about this is it could
be fifteen trillion or twenty trillion, or twenty five or
thirty or forty or fifty trillion, zillion, jillion, gazillion. None
of the numbers are real. It's all lies. But what
is real are the layoffs the contracting job market, the
(03:52):
fevered speculation on Wall Street as the crypto hustlers in
the Bitcoin Bros get their last takings in before it
all falls apart. The man who was made famous by
his bet against the housing market, you guessed it, He's
placed another billion dollar bet, this time against the AI bubble.
(04:16):
The economy that Trump said he was going to make
great is imploding everywhere. Prices are skyrocketing, and Donald Trump
is throwing great Gatsby bashes, gutting the White House bathrooms,
and demolishing the East Wing to build his Versailles on
(04:37):
the Potomac, a gaudy, glitzy ballroom.
Speaker 3 (04:41):
Everywhere.
Speaker 1 (04:43):
There is massive corruption, everywhere, there is a license to
steal if you're a Trump crony. And yet the American people,
despite the complicity of the media, the looking away of
it from Democratic elected officials, from the Republican Congress. The
(05:03):
American people see it all perfectly clearly. Young people can't
afford a beer and a burger, let alone find a job. People,
whether they live in a city or whether they farm
the land, who trusted Donald Trump to know what he's
doing with the economy have had.
Speaker 3 (05:24):
The rug pulled out from under them.
Speaker 1 (05:26):
The truth is Donald Trump is a hustler and a
con man, a failed and bankrupt ceo, a reality television
star who has surrounded himself with yes men, weirdos, sickophants,
and guys.
Speaker 3 (05:44):
Like Howard Lutnik.
Speaker 1 (05:45):
The Trump economy will always be ready to explode for
you tomorrow. And when the economy doesn't come for you,
doesn't lift you up, well, Sean Hannity will be there
to tell you it'll happen soon. The truth is when
the economy contracts, when jobs disappear, when opportunity vanishes, people can.
Speaker 3 (06:11):
See things clearly.
Speaker 1 (06:13):
They can see and not for the first time that
they've been conned, that they've been conned by people in
a system who excel at taking things.
Speaker 3 (06:24):
That don't belong to them.
Speaker 1 (06:27):
During the months ahead, we're going to see some things
that haven't been seen in this country in a very
very long time. We're going to see breadlines, food lines,
and they're going to be long, and a lot of
people on those lines are going to be people that
(06:47):
in a billion years never conceived.
Speaker 3 (06:51):
That it could be them on the line. But it
will be the fruit of the Trump conomy.
Speaker 1 (06:59):
And everybody who stands against Trump has to in this
moment put down their judgments about the choices those people
made politically or otherwise to wind up in the line,
because compassion is a quality that must be called into
service to defeat MAGA, to defeat Trumpism. So many people
(07:23):
who trusted Donald Trump are about to have their lives
obliterated as a price of that trust.
Speaker 3 (07:31):
Watch Donald's here, and.
Speaker 2 (07:32):
I'm pleased to report that today the United States has
the strongest economy, the strongest borders, the strongest military, the
strongest friendships, and the strongest spirit of any nation anywhere.
We have the greatest economy right now. A lot of
people don't see that, but if you look at what's
happening with all the factories AI auto plans all over
the country being built, that if you would have thought
(07:55):
about that two or three years ago, it was the opposite.
They were all leaving now they're all come in, they're.
Speaker 3 (08:01):
All coming back, and then some.
Speaker 2 (08:03):
And I think that we can honestly say, and I
think you're going to see it even more so over
the next twelve months, that this is the golden age
of America. This is the golden age.
Speaker 1 (08:17):
It is perfectly clear the economy is crashing. Trump doesn't care.
People are going to suffer this winter, and there's one
year to go until we can repudiate this lock stock
and barrel, and we will. This is the warning. I'm
Steve Schmidt. This is the warning. I invite you to
(08:37):
join this community where I promise to be honest, blunt
and direct about what is happening in this country. America
is in crisis. Follow and subscribe to this channel and
on substack.
Speaker 3 (08:50):
Thank you.
It is Thursday, November sixth This is the warning, and
the American economy is melting down. But the good news
is Trump has learned a new word. It's a big one.
It's affordability.
Speaker 2 (00:13):
And the country is doing work very well. But as Republicans,
you have to talk about it because if you don't
talk about it. You know, I saw that they kept
talking about affordability. Well, Biden was a disaster with affordability.
He had the highest inflation rate in the history of
our country. But you have to talk about it. It's
no good if we do a great job and you
don't talk about it. And I don't think they talk
about it enough. You know, they have this new word
(00:34):
called affordability, and they don't talk about it enough. The
Democrats did, and the Democrats make it up because we
took over a mess.
Speaker 1 (00:44):
Now it's not something that Donald thinks about very often,
at least not in the context of the way that
normal Americans do. Donald thinks about affordability and increments of
hundreds of millions of dollars in cash and billions and bigcoin.
But at any rate, let's watch Donald connect to the
concerns of the average Americans who just repudiated him and
(01:09):
his sick Maga party from coast to coast by mentioning
the presence of a beautiful you guessed that Saudi princess
in the audience.
Speaker 3 (01:19):
What's happening?
Speaker 2 (01:20):
Grocery prices are way down and Walmart? Walmart just announced
at the cost of their standard Thanksgiving meal, this is
the greatest, their greatest, They're wonderful. They come out every
year with how much does the thanks Giving meal costs
compared to last year?
Speaker 3 (01:37):
Right?
Speaker 2 (01:38):
And it always goes up up up. It's forty percent,
thirty percent more. Is twenty five percent lower than one
year ago. Isn't that great? That's a big deal, Rema,
that's our big deal. I don't know if they care
about that in Saudi Arabia, but here it means a loss.
We got the princess here from Saudi Arabia. It's got
a lot of cash, yeah, serious cash. And she's a
(02:02):
great person, So shere's a care about the price of
a turkey is down a little bit.
Speaker 3 (02:07):
You know, she just have to worry now.
Speaker 1 (02:10):
Ted Cruz understands what's happening. Sean Hannity does not. Sean
Hannity believes sometime in the next year, the economy, well,
it'll start to turn around, perhaps on the back of
all that investment that Howard Lutnik talks about.
Speaker 3 (02:28):
Let's watch, this is the super Bowl.
Speaker 4 (02:32):
This was the super Bowl of trade, right trade? And
this was it, you know, even missing was walk on
and walk off music and a halftime show. I mean,
this was it and there were fireworks all the time.
But think of some of these questions, like Justice Kavanaugh says,
imagine a meeting in the Oval Office with the president
(02:52):
where and this was his cross examination of their lawyer,
and he says, you've said he could embargo, he could
cut off raid with any country, and their lawyers said,
I agree. He goes, imagine telling the president in the
Oval Office, sir, you can blow up trade with this country.
And he goes, that seems too much. Can I put
a terrify on him and do a little less? And
(03:13):
they say, no, sir, you can. And Justice Kavanaugh says,
that seems like a very odd donut to me. I mean,
how could you let that happen? It just didn't make
sense that justices were on the president's side. You're hearing
it here from me. President Trump is going to win
this case.
Speaker 1 (03:31):
The important thing to comprehend about this is it could
be fifteen trillion or twenty trillion, or twenty five or
thirty or forty or fifty trillion, zillion, jillion, gazillion. None
of the numbers are real. It's all lies. But what
is real are the layoffs the contracting job market, the
(03:52):
fevered speculation on Wall Street as the crypto hustlers in
the Bitcoin Bros get their last takings in before it
all falls apart. The man who was made famous by
his bet against the housing market, you guessed it, He's
placed another billion dollar bet, this time against the AI bubble.
(04:16):
The economy that Trump said he was going to make
great is imploding everywhere. Prices are skyrocketing, and Donald Trump
is throwing great Gatsby bashes, gutting the White House bathrooms,
and demolishing the East Wing to build his Versailles on
(04:37):
the Potomac, a gaudy, glitzy ballroom.
Speaker 3 (04:41):
Everywhere.
Speaker 1 (04:43):
There is massive corruption, everywhere, there is a license to
steal if you're a Trump crony. And yet the American people,
despite the complicity of the media, the looking away of
it from Democratic elected officials, from the Republican Congress. The
(05:03):
American people see it all perfectly clearly. Young people can't
afford a beer and a burger, let alone find a job. People,
whether they live in a city or whether they farm
the land, who trusted Donald Trump to know what he's
doing with the economy have had.
Speaker 3 (05:24):
The rug pulled out from under them.
Speaker 1 (05:26):
The truth is Donald Trump is a hustler and a
con man, a failed and bankrupt ceo, a reality television
star who has surrounded himself with yes men, weirdos, sickophants,
and guys.
Speaker 3 (05:44):
Like Howard Lutnik.
Speaker 1 (05:45):
The Trump economy will always be ready to explode for
you tomorrow. And when the economy doesn't come for you,
doesn't lift you up, well, Sean Hannity will be there
to tell you it'll happen soon. The truth is when
the economy contracts, when jobs disappear, when opportunity vanishes, people can.
Speaker 3 (06:11):
See things clearly.
Speaker 1 (06:13):
They can see and not for the first time that
they've been conned, that they've been conned by people in
a system who excel at taking things.
Speaker 3 (06:24):
That don't belong to them.
Speaker 1 (06:27):
During the months ahead, we're going to see some things
that haven't been seen in this country in a very
very long time. We're going to see breadlines, food lines,
and they're going to be long, and a lot of
people on those lines are going to be people that
(06:47):
in a billion years never conceived.
Speaker 3 (06:51):
That it could be them on the line. But it
will be the fruit of the Trump conomy.
Speaker 1 (06:59):
And everybody who stands against Trump has to in this
moment put down their judgments about the choices those people
made politically or otherwise to wind up in the line,
because compassion is a quality that must be called into
service to defeat MAGA, to defeat Trumpism. So many people
(07:23):
who trusted Donald Trump are about to have their lives
obliterated as a price of that trust.
Speaker 3 (07:31):
Watch Donald's here, and.
Speaker 2 (07:32):
I'm pleased to report that today the United States has
the strongest economy, the strongest borders, the strongest military, the
strongest friendships, and the strongest spirit of any nation anywhere.
We have the greatest economy right now. A lot of
people don't see that, but if you look at what's
happening with all the factories AI auto plans all over
the country being built, that if you would have thought
(07:55):
about that two or three years ago, it was the opposite.
They were all leaving now they're all come in, they're.
Speaker 3 (08:01):
All coming back, and then some.
Speaker 2 (08:03):
And I think that we can honestly say, and I
think you're going to see it even more so over
the next twelve months, that this is the golden age
of America. This is the golden age.
Speaker 1 (08:17):
It is perfectly clear the economy is crashing. Trump doesn't care.
People are going to suffer this winter, and there's one
year to go until we can repudiate this lock stock
and barrel, and we will. This is the warning. I'm
Steve Schmidt. This is the warning. I invite you to
(08:37):
join this community where I promise to be honest, blunt
and direct about what is happening in this country. America
is in crisis. Follow and subscribe to this channel and
on substack.
Speaker 3 (08:50):
Thank you.
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