Tariff Rebuke Fails!

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Chris supports Senator Rand Paul’s failed Senate push to block Donald Trump’s tariffs, despite absences from Mitch McConnell and Sheldon Whitehouse and a promised presidential veto. He praises Paul’s constitutional stance, arguing tariffs via “fentanyl emergency” powers violate the Constitution’s requirement for Congress to originate revenue measures. Markowski criticizes Trump’s executive overreach, likening it to Biden’s blocked $1.7 trillion student loan forgiveness, and rebukes MAGA attacks on Paul, emphasizing the need to restrain presidential power and follow proper legislative processes. www.watchdogonwallstreet.com

Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.

Speaker 2 (00:16):
So, Rand Paul's tariff rebuke failed. Mitch McConnell wasn't there,
Sheldon Whitehouse wasn't there, so it wouldn't have gone through.
And again it would have been vetoed anyway by the President.
But I'm watching everybody on the right, yeah, sticking Rand Paul.
Oh my god, they're traders. He's against trump agenda. All right.

(00:38):
I want to be to pay very close attention if
you can. Okay, turn out to get distracted here, Rand
Paul is following the Constitution of the United States. Now,
not a patriot, You're not a patriot, okay, my friend.
We have a rule book that we're supposed to follow

(01:02):
for a reason. For a reason, there'll be a time
when you get a president that you don't like and
you want to make sure that their power is restrained
because again you hear this nonsense. Well, he won all
the swing station and that's what we voted for. Us
who want to get him at.

Speaker 3 (01:21):
New We'll do it the right way. Do it the
right way, you go through the proper channels. We're watching
all of these various different courts rebuke Trump and his
various different executive orders. Okay, I haven't read the decision. Okay,
I read one of them, and it seemed pretty solid.

Speaker 2 (01:43):
And it's the funny thing. It wasn't even a rebuke
of what Trump wanted to do. It was the process.
We have rules for a reason. We want to restrict,
we want to constrain power. That's what the founders wanted.
I remember Thomas Friedman is doing an interview and it

(02:05):
was about it when Obama was president, and he was like, oh,
I wish Obama had the power of the Pollit Bureau
and be able to get things done. He had just
gotten back from China at the time. Is that what
you want? Let me put do a different here. How
many of you out there were upset when the Supreme Court, well,

(02:26):
the court system basically told Biden, no, no, sorry, Joe,
you can't. You can't do one point seven trillion dollars
in student loans and just forgive that you can't do it, Sorry, Joe.
It can't happen. It's got to go through Congress. That's
what we need to get back to. Okay, we have
been eroding the power of Congress, which is again that's

(02:50):
for us, for the people. For a very long period
of time. The presidency has gotten way too strong. Okay,
First and foremost, a Patriot Act is quite frankly constitution,
a nonsensical needs to be done away with. President can
just basically wage war at will. Got that? Oh? How
about all of the acronim agencies that I rail against

(03:11):
all the time? The you know, all those three letter
agencies that can act as judge, jury, and executioner. You
want that too? No, I don't want any president to
have absolute power. Listen, many people railing against judges, and
I get it. Okay, if a judge is conflicted and
they should have recused themselves, they should have done that

(03:34):
and needs to be dealt with. But sometimes it's not
about the merits of what you want to do. For example, example,
what was it again yesterday? One of the courts said, no, Trump, No,
you can't take the money away. Can't take the money
away from Radio Free Europe. Can't do it again? Oh,

(03:55):
my guys, the judges are doing all these things. No,
these judges. If you look at the decision, the judge
basically didn't say anything about the twelve million dollars. The
judge said, well, Congress appropriated that money, and that's what
Congress is supposed to do. That's their job. The president
can't do this. Presidents don't have a line on a veto.

(04:15):
We don't have a line item veto. We just had
people again, Republicans punted and the President told them to
punt on the continuing Resolution. They could a defunded sanctuary cities,
they could have defunded Radio Radio Free Europe. They could
have done whatever they wanted. But they didn't. They didn't

(04:37):
do their job. So I'm sorry. Ran Paul was right
on every point that he made. This country shouldn't run
on an emergency basis. And you know, quite frankly, you know,
let's be honest here. You know, and I've said this before,

(04:59):
these country is that have tariffs on him. Switzerland sending
US fentanyl. Nah, I don't think Switzerland's sending US. I
don't think Greece is sending US ventanel. I don't think
Monaco is sending US fentanyl either, watchdog on Wall street
dot Com