Google Speech-to-Text API Automatic Transcription (Chirp). Treat it as a searchable index of what was broadcast, not a quotation record.
00:00:00life for the middle class as yet to
00:00:03in materialize. with the midterm elections a little more
00:00:05of than three months away, the economy has also stalled in many
00:00:08of of the areas where Donald Trump said that mass deportations of
00:00:12undocumented people and higher import taxes would trigger
00:00:16a boom with the US in Israelity war against Iran
00:00:19intensifying some key
00:00:24of rest.
00:00:29of
00:00:57of
00:01:04The first 18 months of President Donald Trump's second term and the
00:01:08White House have seen a series of policy driven economic
00:01:12shocks, highlighted by higher tariffs that he promised during
00:01:16his 2024 presidential campaign an
00:01:19unanticipated war with Iran that has boosted the price of
00:01:23oil and threaten global supply
00:01:30of of chains. of Coming up in today's program, Donald Trump's economics,
00:01:3418 months point. Trump's economic policies have been a
00:01:37whirlwind of ups and downs from inflation which has been
00:01:41increasing to factory jobs, which has been decreasing. Our
00:01:45second headline: tariffs, war and economic shocks.
00:01:49What has Donald Trump
00:01:50of done to the economy? The question should be, what hasn't he done?
00:01:54From tariffs economic shocks to the Iran war, he has pretty much
00:01:58covered the entire gamet. unpopular war
00:02:01and economic
00:02:02of downturn, but the illegal aggression on Iran has caused the
00:02:06of US economy lot, leading to economic downturn, which
00:02:10is evident in the lower than expected economic
00:02:14output or the GDP. We're going to be
00:02:16of discussing of those points
00:02:17of and a whole lot more with our guests right here, Nick Cruz, writer,
00:02:21activist and co-founder of Revolutionary blackout
00:02:25network, and Dr. Mattias Vernengo,
00:02:28full professor of Bucknel
00:02:34of of University,
00:02:51hey, thank you for inviting me on the
00:02:52show.
00:03:06of
00:03:23of
00:03:42Donald Trump, he couldn't give, he couldn't care about the American people any
00:03:46less than he does, he promised that he was going to address
00:03:50uh the problems of inflation in the
00:03:53of economy, meanwhile he's bragging about how he's been the best
00:03:56president that Idroa has ever had. even
00:04:00mocked the pain that the American people
00:04:03of was
00:04:03of feeling during the inflation crisis by saying it was
00:04:07inflation crisis
00:04:08out,
00:04:14so he don't care about the American people, the only thing he cares about is
00:04:18dividing the American people by pushing culture wars and
00:04:21division and doing the
00:04:23of agenda
00:04:25in of the zionist regime and promoting endless wars, as the American people are
00:04:28suffering, there are... expanding the United States military, cannot
00:04:33of pass a audit, by the way, they are spanding their budget to
00:04:36$1.5 trillion dollars as the American people
00:04:39struggle eat, as their part, their life continues to drop. This
00:04:43is what we seen throughout the ruling 2004 them promising to take care
00:04:47of the American people, but abandon them the second day take
00:04:50power.
00:04:56It has been exactly one year since President Donald Trump's... the
00:05:00one big beautiful bill act. when it comes to income, the trend has
00:05:04continued in the U.S. and Donald Trump's policies are no
00:05:07exceptions, incomes for the wealthy and highest earners
00:05:11prosper. while lower and middle income households
00:05:15far less well, the net worth the top 1%
00:05:19grew 30% over the past three years, the middle
00:05:2240% grew by less than 10% over that
00:05:26same
00:05:27period.
00:06:02people been predicting a massive economic downturn for very long
00:06:06time and donald trump's mismanagement is making things even
00:06:10worse, but to be clear, this is a by... partisan
00:06:13failure of neoliberalism in the west,
00:06:17that has been a problem even before Donald Trump took office,
00:06:21the result of failed neoliberal policies that promotes
00:06:24giant police states, giant authoritarian military
00:06:28budgets has led to the top 1% in the United
00:06:31States owning more wealth than the bottom
00:06:3490%.
00:06:39We have over 60% of Americans who live. to paycheck,
00:06:43we have one out of five children in America who live in poverty and
00:06:47face food insecurity, that's why they spend lot of
00:06:51money promoting uh propaganda and hollywood and on tv
00:06:55shows to promote the image of Americans living of
00:06:58fancy um very well
00:07:02lavished life, but the reality of Americans is one of
00:07:05suffering due to capitalist mismanagement, our
00:07:09infrastructure is even falling apart, but instead of fixing that... Once
00:07:12again, the focus of Donald Trump and the entirety the United States
00:07:16Congress is just to provide money for never-ending wars,
00:07:19providing billions of dollars to Ukraine and billions of dollars to the state of
00:07:23vision.
00:07:45This is the social section the program. I can't believe this is
00:07:49a real video and not AI. Donald Trump says America can't afford
00:07:53to take care of Americans medicare and daycare, but he
00:07:57can find well over 3.1 billion dollars every year
00:08:00to send to Israel. Another 1776 is
00:08:04needed in America. Because the United States can't
00:08:08take care of daycare. That has to be up to a state.
00:08:12"we can't take care of daycare, we're a big country, we have 50 states, we have all
00:08:16these other people, we're fighting wars, we can't take care of
00:08:20daycare, you got to let a state take care of daycare, and they should pay for
00:08:24it too, they should pay, they have to raise their taxes, but
00:08:28they should pay for it, and we could lower our taxes a little bit to them to make
00:08:32up, but we it's not possible for us to take care of daycare,
00:08:36medicate, medicare, all these individual things, they
00:08:39can do it a state basis, you can't do it a federal." "We have to take care of
00:08:43one thing, military protect, because the United States
00:08:47can't take care of Dake. Donald Trump's administration is ending Medicare,
00:08:51part d subsidies, raising prescription drug
00:08:54costs for more than 11 million Americans. You
00:08:58can't afford rent, you can't afford groceries, you can't afford
00:09:02to get sick. They found a billion dollars a day to
00:09:06for bombs. The money exists, they just decided you don't
00:09:10deserve it. promises made,
00:09:14promises broken in the minds the American public,
00:09:1744%, 38% said they make them worse off back in
00:09:21October of 2024. Look at these numbers now, oh my
00:09:25goodness, John shaking his head off on the side, now
00:09:2858%, nearly three and five voters say that Trump
00:09:32is making them financially worse off, that's up like rocket, the
00:09:36better off down through the floor a lake, Michigan, these
00:09:40are absolutely devastating numbers. issue that got
00:09:43Trump reelected, now the voters absolutely turned against.
00:09:47Donald Trump says we have an amazing economy, really?
00:09:5060% of our people live paycheck to paycheck, 85
00:09:54million are uninsured or underinsured, more
00:09:58than 750,000 people are homeless. The
00:10:02price of groceries is through the roof. If this is amazing,
00:10:06then God help
00:10:07us.
00:10:16Thank you very much for having me in your
00:10:17show.
00:11:05first let me separate the perceptions and and the actual economic
00:11:09performance. i think uh the
00:11:12economy in some ways,
00:11:15structural things have not been doing well for a long while,
00:11:19preceeds trump, in fact it is the poor performance
00:11:22the economy that explains why
00:11:25Trump is in the presidency
00:11:28and and not just this time 2016 and what not? so for working class
00:11:32americans, it's been four decades
00:11:36since the economy sort of really
00:11:40show significant improvement
00:11:42for for
00:11:42them.
00:11:47in the very short term, the American economy was already slowing down
00:11:51coming out the pandemic because the stimulus the... damic was
00:11:55coming down, so the the economy has slowed down and and
00:11:59Trump has not helped that, so so the the
00:12:03economy is growing, which is not terrible at about
00:12:062%, uh, slightly more, I think the first quarter, but now
00:12:10that's the average, by by european standards is actually pretty decent, the
00:12:13unemployment rate in united states is low 4.2%.
00:12:17however, that doesn't mean that the situation in the labor market is good, so that
00:12:21camouflages the situation in the labor market that it's much worse.
00:12:25uh with people that yeah don't get enough
00:12:29work and are discouraged and are out the labor force and so
00:12:33on and so forth so so those are significant problems
00:12:37uh but again those problems have been there for a
00:12:40while.
00:13:25first manufacturing for those that thought that just uh
00:13:28hiking tariffs and the tariffs have been problematic, part them have been
00:13:32sort of uh um repudiated by the supreme
00:13:36court um, although he has reimposed
00:13:39tariffs again, but the average tariffs did go
00:13:43up and and the tariffs many thought
00:13:46including the labor movement in the United States, people that were for tariffs
00:13:50in the among unions and and
00:13:54and what not? um, they did not bring back
00:13:58manufacturing jobs, so manufacturing jobs require more than just tariffs, they
00:14:02require uh industrial policy,
00:14:05incentives, national
00:14:08strategy, things that uh, if
00:14:11anything uh with the uh
00:14:15election of Trump and and the end the Biden government have
00:14:19become less organized, so so there was more of a
00:14:22preoccupation of bringing some manufacturing job. thinking a more coherent way
00:14:26with the Biden
00:14:27administration,
00:14:32the prospects for the future I think depend
00:14:34incredibly on what policy choices are
00:14:38you made and the war in Iran is a complicated sort of thing because on the one
00:14:42hand the war in Iran has as I said in the first question accelerated
00:14:46inflation and that implies that the Fed might keep interest
00:14:50rates if if not hike the interest rate at least maintain interest
00:14:53rate a level. It's relatively high and that creates problems because
00:14:57you lot the consumption depends on on credit
00:15:01and interest rates are high, the housing market, that's the most important
00:15:05mechanism, the housing market heavily depends on on on
00:15:09credit and mortgage rates and mortgage rates remain relatively
00:15:13high, so so that is something that points to a weakness in the American
00:15:17economy.
00:15:44This is the info new section the program, AI bubble
00:15:48burst. The AI bubble is bursting, don't get mald, the
00:15:52AI hardware and semiconductor sector has experienced
00:15:56a sharp correction. Despite recent volatility, the AI
00:15:59bubble has not peaked. Our special investigation revealed this one
00:16:03example, that's South Korea's stock market. It has...
00:16:07punched as AI driven boom fades. South Korean
00:16:11stocks have dropped for second consecutive session, but
00:16:14souls equity market losing about $2.18
00:16:18trillion dollars in value poverty in
00:16:22Italy. Council of Europe sounds the alarm, one
00:16:25in seven children in Italy lives in
00:16:29absolute poverty. The situation is particularly
00:16:33prevalent in the south in outlying areas and in the most
00:16:36disc vantage urban neighborhoods, affecting single parent
00:16:40families and those with more than three children in
00:16:44particular. Donald Trump's tariffs: they
00:16:48are sending some companies back to China for some
00:16:52US brands seeking a location for their factories, the economic
00:16:55logic is once again pointing to
00:16:58China. US LNG sales, Washington's
00:17:02tap war strategy constrains oil and gas
00:17:06rivals to elevate. American LNG, this indicates that
00:17:10Washington is pursuing the top war strategy, a calculated
00:17:13effort to limit competing oil and gas
00:17:16sources so that the higher cost US shall gas
00:17:20and LNG can meet global
00:17:22demand.
00:17:54This is the in-depth section the program. Donald Trump's economic performance
00:17:57during the past 18 months leaves lot to be
00:18:01desired. Mainstreet USA is saying that economists are saying
00:18:05it economic data for the most part. is saying it, and
00:18:08so are US politicians from both sides the
00:18:12aisle.
00:18:19In our presentation for this part, we will look at some
00:18:23senior US politicians like Senator Brian Shatz, Chuck Schumer
00:18:26and Bernie Sanders. We will also look at an example of
00:18:30US economic data that is hurting millions of Americans and
00:18:34that is the mortgage rates. First let's see. Brian
00:18:38shats has to say about the US
00:18:40economy, there's a lot going on in the
00:18:44world, gas is about $4 nationally,
00:18:48Hawaii, it's about
00:18:49550, um, people can't afford
00:18:53their healthcare, people can't afford their groceries, and senator
00:18:57Closar said it exactly right, this is about priorities, this is about
00:19:01giving $70 billion dollars more money ice
00:19:05than the United States Marine Core. what the senator
00:19:08there is saying is that regular people can't
00:19:12afford their lives anymore, they can't afford to put
00:19:16food on the table, they can't afford their
00:19:19electricity bells, they can't afford to put gas in the tank,
00:19:23they can't afford their health insurance. the numbers are
00:19:27here for you to see, check out the price of beef as an
00:19:30example, to have increased almost 20% right here, more in
00:19:34major cities across the US as well, electric. bills, another
00:19:38example of 30%. all these price
00:19:42increases subtract from the ability
00:19:45of US consumers purchasing power.
00:19:48now let's uh look at what's US senator Chuck
00:19:52Schumer has to say about the most recent
00:19:55GDP numbers, which was quite disappointing, to say the
00:19:59least. well, Mr. President, today, the
00:20:03disastrous Trump economy delivered another one two
00:20:07gut.
00:20:37absolutely torches Donald Trump after 1.5%
00:20:41GDP growth. 2022 to 2023, there was
00:20:44a steady economic growth, but 2025, there was a dip, as
00:20:48you can see right here. And then comes the point where the US finds
00:20:52itself after all the promises made by Donald Trump,
00:20:561.5% economic growth. Now it's time to
00:21:00listen to Senator Bernie Sanders.
00:21:03Every morning in America, tens of millions
00:21:07of people are waking up and they're saying, how am I going to put
00:21:11food on the table for my kid? How
00:21:14am I going to fill up the gas tank when gas is 450 a
00:21:17gallon? What happens if my? car breaks
00:21:21down and I can't get to work, and if I can't get to work, I lose
00:21:25my job, if I lose my job, how's my family going to
00:21:28survive? what happens when my dad gets sick and he can't
00:21:32afford prescription drugs when my kid gets
00:21:35sick? how am I going to put away a few bucks so maybe
00:21:39I can retire with dignity? half of older
00:21:43workers in America have nothing in savings.
00:21:46Bernie's message to the ruling class, pretty dire.
00:21:50situation: one and four Americans, that's
00:21:5226% of all Americans say they cannot pay
00:21:56for a $500 repaired job. imagine that, maybe it's
00:22:00because they don't even have $400 in their
00:22:04bank account or their credit has run dry. pretty dismal
00:22:08situation for many Americans. now on that point,
00:22:11let me bring in our guest, neck cruz, a writer, activist and co-founder
00:22:15of revolutionary blackout network into this conversation,
00:22:19mr. was in one the starkest pulls.
00:22:2295% of Americans believe the US is suffering an
00:22:26affordability crisis. That's according to a survey
00:22:29conducted by Harris Pull, which paints
00:22:33this bleak picture of uh, how people feel about the
00:22:37US economy, made the war on Iran and ahead the mid-term
00:22:41elections coming up in November. What do you think, and
00:22:44how do you think that is going to affect Donald Trump's presidency
00:22:48and the midterm elections? results: oh, Donald Trump is
00:22:52going to face a historic defeat uh, in the
00:22:56mid-terms, but this is how the system is designed for
00:23:00one oligarch to take charge, do the bidding the
00:23:03empire, and then pass the baton to the next puppet the
00:23:06empire. this is the same thing we seen happen under Joe Biden
00:23:10when the inflation crisis became became even
00:23:14worse as he committed a genocide and funded nazis in
00:23:17Ukraine. uh, Donald Trump is most corrupt
00:23:20politicians of all time and that's that's going to lead to his
00:23:24massive defeat in the mid-terms. Donald Trump has
00:23:28made over two billion dollars. Jerry
00:23:31Kuschner and his family have made hundreds of
00:23:35millions of dollars billions of dollars on shady
00:23:37deals. So yeah, this is how the system goes, you have the
00:23:41revolving door corruption, the republicans will
00:23:44lose, and then the democrats will take charge and they will rule
00:23:48for a while, and then they will. sell out the American people and
00:23:51then uh Marco Rubio or JD Vance
00:23:55may be elected in the next election cycle uh the system it designed
00:23:59to fail but to to keep itself in power at the same time is fail
00:24:03democracy now it's time to take a look at the mortgage
00:24:06rates the rate for a 30-year fixed mortgage rate now stands
00:24:10at 6.66% that is one the highest in
00:24:14one year again that bites into the consumer purchasing power since it
00:24:18is a constant that they... have to doll out
00:24:21every month. now on that final point, let me bring in our other guest,
00:24:25Dr. Matthias Vernango, full professor at Bucknel
00:24:29University. Professor, inflation on many goods especially food and
00:24:33energy is up, manufacturing output is down
00:24:3775,000 fewer Americans work in factories than
00:24:4118 months ago, then the Iran ward uh has
00:24:44hurt the US consumers big time as well. How will
00:24:48this hurt the? chances of Donald Trump's Republican
00:24:52party winning the midterms in
00:24:55November. Well, I'm not a political analyst. What I can tell you is that
00:24:59there is an affordability crisis, there is no doubt people, I mean inflation has
00:25:02accelerated, as I said,
00:25:04some people at the bottom actually until very re from 2023, for
00:25:08a while during the pandemic they were losing, but for the most part since
00:25:112023, the wages the of non-skilled workers
00:25:15have sort of recovered, but but again
00:25:19from a low. so so so I think that there is an affordability crisis,
00:25:23there is anger uh particularly I think that the price of gas
00:25:27and oil your oil and and then gas and you
00:25:30people can drive in this country is sort of a
00:25:34serious issue, people take very seriously the
00:25:38fact that gas is more expensive and so I think that
00:25:42that is a problem that you will have electorally, I think that yes all
00:25:46indicates that
00:25:47you know the the situation and
00:25:49that there is dis'. tent and that he may lose the the
00:25:52midterms, um, it wouldn't be a
00:25:56surprise, it's the, norm in American elections that the midterm
00:25:59elections go against the incumbent, so... that would
00:26:02be um not necessarily a
00:26:06surprise if that happens, the the more important thing from my
00:26:10perspective is what happens in in not the mid terms, what
00:26:14happens in two years, and I think in order
00:26:17for um an alternative to the economic policies of
00:26:21Trump to emerge, there would be need for the Democratic
00:26:25Party embrace some the more populist sort of
00:26:28proposals on the left the democratic.
00:26:32party that address exactly those issues, the issues of
00:26:36affordability of affordability, not just of gas, but affordability
00:26:40of of healthcare, affordability of
00:26:43of education, you work
00:26:45which
00:26:46a is university you, is I very expensive,
00:26:48and and
00:26:49I think that those issues uh will certainly affect not
00:26:53only just the midterm, but the future presidential elections in in
00:26:57two years and a
00:26:57half.
00:27:22Don't let the news fool you, many items are cherry picked to
00:27:26present vibrant US economy, that is not the case, there
00:27:30are many outlets that also revealed. the true numbers and
00:27:34facts, but not enough of it. the economic situation in the US
00:27:38is pretty bad and the US president knows it, but oddly
00:27:41enough he conducts policies that appear to want to
00:27:45hurt the US consumers. this is the website page of
00:27:48economic divide. feel free to browse through all of our previous programs and tell
00:27:52us how you're doing. i'm Kyoraj and I'll see you next
00:27:55week.
00:30:07The headlines: Yemani armed forces say they have conducted major
00:30:11military operation against Saudi-backed mercenaries in Yemen who
00:30:15were planning to attack the capital Sana.
00:30:19Iran dismantles a network spying for Musad in Kerman and a
00:30:23terrorist cell planning attacks in insistan and baluchastan
00:30:27province. And also
00:30:31coming up there's really troops. raid the golandia refugee camp in the west bank
00:30:35for the second day, they have also injured at least eight people in
00:30:39southern
00:30:39Lebanon.
00:30:54It's half past midnight in the Iranian capital to everyone,
00:30:57welcome. Germany armed forces say they have carried
00:31:01out a larger scale. military operation against some