Trump announced a brilliant move to pause the higher tariffs on countries negotiating with us. But meanwhile to raise China's tariffs to 125%. So wall off China by boxing him out, further weakening their economic power. [00:00:18] It's genius. All right. Well, as you all know by now, Trump announced yesterday that his tariffs were not going into effect except for the ones against for against China. And very predictably, the hosts over on Fox News and other Trump fans are spinning [00:00:35] this move not as market manipulation, not as insider trading, not as an irresponsible level of disregard for the global markets, but as a genius move. That's a, quote, genius move on Trump's part. Jake, this is truly the art of the deal, isn't it? [00:00:52] Trump puts out the fire that he started and Fox News is overjoyed. Yeah. So we're going to show you some more clips of people who are. Absolutely asinine, pretending that Trump meant all of this. Come on. [00:01:07] Is what I have to say about that. We've got a poll on it in the live chat. Of course. Shows live at 6:00 eastern every day. And, but in a little bit I'm going to talk about why it's exceedingly obvious that he didn't mean it, including some of the important details that prove it beyond a shadow of a doubt. [00:01:24] All right. Well, I mean, according to Fox News, this was the plan all along. I can't wait to hear you rebut that, Jake. But at least you know that's what they're saying now, after nearly melting down over the past few days and with these tariffs, many people who voted for Trump never believed he would [00:01:41] actually go through with them. Right. That was the thing that they always said that the threat of these tariffs were the actual move. Trump was just negotiating with world leaders through very abusive and volatile means, which is, I guess, the way he does things. This was after Trump spent a week, also up until the very last moment [00:01:59] when he finally reversed the tariffs, telling everyone that he definitely was not going to change his mind on them. Of course, many of us did suspect that something like this would happen, though we maybe had different ideas as to why something like this was going to happen. So here is Sean Hannity patting himself on the back [00:02:16] for calling it all along, but again, not because he was privy to any kind of like market manipulation or insider trading or anything like that, because he knows the art of the deal when he sees it. Take a look. The Art of the deal told you this was going to happen. [00:02:32] It was inevitable. Donald Trump is in a perpetual state of negotiation, a huge win for the president, a huge win for the country, his biggest accomplishment of the second term. And there have been many. Take a look at all the progress from this president just over the last few months in office. [00:02:48] And now, once again, the haters, the doubters, the legacy media mob, the Chicken Littles, the Democrats, all the people on the left wing, they were all proven wrong. Screaming and yelling and ranting and raving. They all, as usual, end up with egg on their face. Exactly one week after Liberation Day, the stock market closed with its third [00:03:08] biggest overall gain since World War two. S&P up nearly 10%. The Dow Jones up nearly 8%, with the biggest point increase in American history in a single day. The Nasdaq. Well, that jumped by more than 12%. Markets rallied after President Trump announced an immediate 90 day pause [00:03:27] on his stated reciprocal tariffs. Are we the ones with egg on our faces? I can't tell if he's if we're the ones that he's referring to. But Jake, I am curious what you think here. Even though the markets have rebounded, they aren't better than where they were [00:03:43] before Trump did any of this. So do you think there's an argument somewhere that what Trump gained politically is maybe worth what we lost in the markets? Yeah, there's no argument at all. At all? At all. Not 1%. So let's break it down. [00:03:59] So first off, Of, This idea that, that. Hey, we're the third biggest day of stock market rise ever. Congratulations. Donald Trump. Yeah, that's because he created the markets by 12%, which is shocking. [00:04:15] It's a shocking number. So then he regained some of that when he reversed his clownish tariffs. You don't get to brag. Well you know I just got I had the third largest day of pulling a car out of the ditch. [00:04:31] Oh. Who drove it into the ditch? I mean, I did. I drove it way into the ditch and I haven't gotten it out. Really? It's halfway out, but I had my one of my biggest days of taking a car out of a ditch. I mean, come on. Really? Really. If you're on the right. Can anyone really believe that? [00:04:47] I mean, you saw the markets plummet, and then you saw them rise back up, but not to their previous level. And you're going to give Trump credit for that. Well, who who else caused the market crash? Is there any like this is a literal question. [00:05:03] Is there anyone not in a mental institution who thought that something other than Donald Trump's mega tariffs caused the stock market crash? So if he got halfway out of it by reversing his clownish moves, are you [00:05:18] really going to give him credit for that? Oh come on. And then let's continue with the Laura Ingraham genius. Wait, wait, how do I get to be a genius? Well, here I give away $100, get $50 back. I lost $50, genius. [00:05:34] I'm such a genius. Okay, wait a minute. To be fair, let's talk about what we got in return. Because there's a lot of pain in the market. And by the way, guess what? The markets went back down today. Another 100 points. Why? Because the maniacal tariffs that remain on China that are at 145%. [00:05:51] We'll get to that later in the show. So but to be fair, what did we get in return. Because they said 70 countries are in negotiations with us. South Korea Japan might make a deal Any minute they're all panicking. They're all coming to us. The European Union might bring their tariffs down to zero. We got this, we got this. [00:06:07] In return for reversing his tariff policy, Donald Trump got exactly zero concessions. None. None. None. In a panicked retreat, by the way, he should have panicked. It's about the bond markets and come back to that. [00:06:24] And that was huge because it was just stock market crashing was one thing when the stock market and the bond markets were crashing at the same time, which was previously thought unimaginable, undoable because usually when the stock market goes down, the bonds go up and vice versa. [00:06:40] In this case, Donald Trump did something miraculous. He managed to crash both of them at the same time. I'm not sure anyone's ever pulled that off before. Genius. The Art of the deal. My favorite, though, was Sean Hannity talking about told you. [00:06:55] Hey, Sean, you told us that these tariffs were going to last forever and it was going to rebuild our manufacturing base. Now they're gone. And you're saying told you. So what is happening to our manufacturing base? Wait, were they short term negotiation ploy or were they long term [00:07:14] to build a manufacturing base. So well, obviously it couldn't be long term to build a manufacturing base. They're gone. They're gone. Are they going to lose the manufacturing base, going to magically be rebuilt by four days of tariffs that were then withdrawn? Okay. Who could be maniacal enough to believe that? [00:07:32] And then, well, to be fair, look, maybe some of you. And by the way, some of the people did they didn't like the long term plan or they didn't believe in the long term plan, but there were people who thought, no, he's just negotiating. It's art of the deal, etc. But when you negotiate and you get literally nothing back and you flip flop [00:07:50] like a panicked clown, well, then it wasn't short term gain either. So it was no gain at all because I. This what I got news for you. What I've been telling you for a decade straight. The one thing that people just cannot get through their heads about Donald Trump. Maniacally stupid, has no idea what he's doing and never has. [00:08:10] His one talent marketing me me me me me. Chomp chomp chomp chomp chomp chomp chomp chomp. I'm the best, best best best best best best. And by the way, it's. And you've heard me say this a billion times. The fact that that one talent which to me is like just the bare minimum, [00:08:26] bare minimum has destroyed the Democratic Party. That shows you how pathetic the Democratic Party is. Okay, but but back to Trump. What if we got no, tariffs reduced in return and we have rebuilt absolutely nothing in our industries? [00:08:44] How could it possibly have been a grand strategy, unless the grand strategy was to shave off all this money from the stock market and risk a recession for absolutely no gain? And if that was his strategy, well, then you have to admit that's the worst strategy in the history of the world. [00:09:00] Yeah, absolutely. I think what you were saying about the stock and bond markets really just remarkable, just a remarkable failure on Trump's part. When the bond markets dropped, recession wasn't even a consideration anymore. We were about to plunge ourselves into a depression. [00:09:15] And allegedly reportedly Trump was worried about a depression. All of a sudden he said, oh, this is really bad. Let me pull back again after for an entire week saying nothing is going to change my mind. Everyone be cool. Everybody relax. I know what I'm doing. [00:09:31] Right. That's what he told us. And that's kind of been his line for as long as we've known him as a presidential candidate and as a president. He keeps telling his his supporters that he is the only one who can fix all of their problems. And so just let them cook, just just sit back and let him do what he's got to do. [00:09:47] And they do like they really put a lot of faith in him. And we'll get to more on how disastrous this actually is. But of course, everybody over on Fox is, is not really thrilled about this 90 day tariff Tarif. Pause. Nor do they think it was a brilliant or genius move. [00:10:04] Some people are naysaying a little bit over on Fox. Take a look. Let's be clear. What happened? You know who capitulated here and why? And, you know, I don't want to say this because I'm a patriot. I'm an American, but it is the white House who capitulated based on everything I hear [00:10:24] and all my sources. And the reason why is because of the bond market and what happened last night. You know, Besson knows this better than anybody. When you have yields on the ten year rising to 5%, stuff starts shutting down when you have the lending markets screwed up. [00:10:40] By the way, who was dumping the bonds? Somebody asked him if it was China, right. It wasn't. It was Japan. While he was negotiating with Japan. Japan, according to my sources, who are running major money management firms that are involved in the bond market without giving up names, [00:10:58] Japan was dumping bonds because they believed this was not a great place to do business. What a strange statement, by the way, that he doesn't want to admit that Trump was wrong because he's a patriot. Patriotism isn't supposed to make you stupid. [00:11:14] Sometimes it does. I guess if it makes you just stop thinking. But you can be a patriot and still criticize your government. In fact, I think it makes you more of a patriot if you are willing to criticize your government, especially in a democratic government. But according to Trump, here is the real reason [00:11:30] why he reversed course at the last minute. Well, I thought that people were jumping a little bit out of line. They were getting yippee! You know, they were getting a little bit yippee. A little bit afraid. Unlike these champions, because we have a big job to do. [00:11:47] No other president would have done what I did. No other president. I know the president. They wouldn't have done it. So the reason was that people are getting yippee! And so he was like, oh, don't like that. So. However, according to the to the New York Times, it was more than just [00:12:04] this Yippie ness that ultimately swayed the president away from his tariff plan. According to the New York Times, they said behind the scenes, senior members of Mr. Trump's team had feared a financial panic that could spiral out of control and potentially devastate the economy. [00:12:20] Treasury Secretary Scott Bessent and others on the president's team, including Vice President J.D. Vance, had been pushing for a more structured approach to the trade conflict that would focus on isolating China as the worst actor, while still sending a broader message that Mr. Trump was serious [00:12:37] about cracking down on trade imbalances. Okay, Trump fans seems to believe that because something needs work, it needs to be completely just burned to the ground and rebuilt by, I guess, incompetent people. I'm usually not bad about a burn it all down strategy. [00:12:54] Just speaking generally in life, which I admit is very volatile. But when you're dealing with global markets, right, when you're dealing with people's money and their livelihoods. When you're dealing with government, you're supposed to be a little bit more responsible than what we've seen demonstrated by this administration so far. [00:13:09] Maybe when you're running your own business, you can be as reckless as you want to be. But I keep saying government is not a business and it's not supposed to be run like a business, right? Government job. The job of the government is to take care of the people it governs. And right now, Trump and his administration, they are not doing that. [00:13:27] - What do you think, Jake? - Yeah. So first of all, I do agree with Trump on one thing. No other president would have done this. Well that's true. That's totally true. No other president would have put in global maniacal, enormous tariffs, crashed the markets, got nothing in return. [00:13:44] And then in a panic reversed himself. But to be fair, Sean Hannity said this was one of his biggest accomplishments, which in an ironic kind of way, might be true because the bar for Trump is so low he's accomplished nearly nothing other than giant corporate tax cuts in his first term. And while we're all looking at this, the House today passed $5 trillion [00:14:02] in tax cuts, and that's going to be his second largest accomplishment. He is the world's most ironic populist. Okay, so but if Hannity is right, and if this was all a secret genius plan to get nothing but, like, reverse yourself, but it was planned all along. [00:14:20] Trump meant this. That is why it is the art of the deal. Then why did he say people got the Yippies and panicked? And that's why I had to reverse myself. If you planned it all along, didn't you know the Yippie was coming? Like, what's hilarious about Trump is that he can't help but say [00:14:37] what's at the top of his mind, right? So he just jumps in and he's like, yeah, we were panicking. People got the Yippies. I didn't know what to do. I panicked and I went through them. And then Hannity and Ingraham look at it and go, genius! Art of the deal. Okay. All right. Look at this. [00:14:54] The amount of lying that happens in American media is unbelievable. It's just really it's it's astounding. They're not doing new shows. Obviously, they're doing propaganda shows. Okay. But I want to go to the bond markets because that part's super important. It's complicated as to why the bond market went down here. [00:15:11] There's a lot of factors. I'm going to summarize it and kind of get to the point here because as I said earlier, if the markets go, stock markets go goes down. Bond markets are supposed to go up. It's a safe haven for money. They move it from the markets to to the bonds. But in this case, something really weird started to happen last night. [00:15:27] And that's why there was another layer of panic, which is that the bond markets were going down. Why? Partly for because of what Gasparino was saying. And that might be a huge part of it. So while the Trump administration was pretending that Japan is on its knees and ready to negotiate, in reality Japan started selling off bonds in a way that created [00:15:46] a massive problem for us because two of the largest bond holders for US treasuries are Japan and China. And so there was also speculation and most importantly, guys, people started to lose faith in the credit of the United States that maybe we [00:16:03] couldn't pay back the Treasury bonds. And if that happens, that is catastrophic, because interest rates would go through the roof. The interest we pay on our debt is already at over $900 billion a year, [00:16:18] and that would skyrocket. But more important than even that is that if the world loses the faith in the US dollar, they will shift to another currency, and that will be catastrophic for America. Catastrophic. [00:16:34] That's actually one of the theories as to why Dick Cheney wanted to go into Iraq so bad, because Saddam Hussein wanted to move oil off of the dollar. So that's how important that is. So and when you piss off the two countries that hold the largest US treasuries, [00:16:50] even if they were doing it on their own, which I don't think it was just them, based on all the reporting that I've seen, that would already be a massive danger to America. So the These enormous tariffs were as big an economic blunder as I have ever seen in my life. [00:17:06] And I really I can't believe the bond markets and the stock market went down at the same time. And I'm not the only one. That's why Trump changed his mind after, officials came in and started telling him, Mr. President, you're not understanding what's happening. [00:17:22] We're about to blow up our entire economy. And so he didn't want to back off, but but he didn't have a choice. And by the way, Navarro, who is pushing oh, we're going to rebuild manufacturing. These tariffs are going to last forever sidelined Navarro not to be seen anymore. [00:17:37] Now Bessent who was against the tariffs in the first place. The Treasury secretary is back in charge in that regard. And I appreciate you guys writing in. Muffin man wrote in on super on YouTube member section. Jake predicted this long ago that Trump would act like he got something when he didn't. And and of course, in this case, to be fair to Trump, he's not even saying it. [00:17:54] He's saying, I don't know, I panicked. We got the hippies. So no, the right wing media like Fox News is lying on his behalf. But I appreciate you pointing out that I said that's exactly what would happen. And it is what happened. And then Naveen and Titcomb member section with a less sophisticated point. [00:18:11] But I enjoyed it nonetheless, he said. Not art of the deal, the art of the deal. Okay, let's look at the poll, see who's watching. Who says no, no, Trump nailed it. This was actually the art of the deal and not a giant L. It's in the live chat shows. Obviously live at 6:00 eastern on YouTube. [00:18:28] Are the deals at 8%? 8%? Hang in there guys. This will be proven to be a genius move at a later date. But hey, by the way, I love that you're watching. Keep an open mind. All right? Yeah. When you were talking about, you said the word a safe haven, right? [00:18:46] Regarding the money markets. And I asked you at the top of the show a little bit facetiously, if you thought there was possibly some political win that Trump was able to eke out with all of this? The answer is, he said, was no. But it's not just no. Things are so much worse now than they were a week ago. [00:19:02] I think you also mentioned, but I'll remind the audience that ever since we had that rebound effect, I mean, this all happened within like 24 hours, right? So we had that rebound effect, still didn't get us back up to where we were. But things have dropped again right as of a few hours ago. So things are still very volatile. [00:19:18] All this is happening within a very, very short windows of time. But people around the world are now losing faith in our entire nation and our entire monetary system. The United States is known, and really has been known for decades, as being a very stable and reliable market. [00:19:35] We simply are not that anymore. Our international reputation, especially on our financial reputation internationally, is shattered. And that is not something that can be easily regained, easily rebuilt. Maybe if we do something drastic, like get rid of Trump [00:19:51] and get rid of all of his people and just have somebody come back in and say, we're sorry, we won't do that anymore. Maybe there's a chance of something like that happening. But as of right now, as far as the world is concerned, we we as the American people are still backing this guy. [00:20:07] This is still what we want. This is the man that we elected knowing that he was going to do these tariffs, or at least knowing that he was going to threaten tariffs and manipulate the markets the way that he has. So either way, it's not good for us. And the fact that Fox News is still even trying to pretend that Trump knew [00:20:24] what he was doing all along and that all of this is a good outcome and that we're the ones over here freaking out because it was like, you know, we were being so sensationalist about how bad this was. It's unconscionable. And it really like they're doing a disservice to their audience members. [00:20:41] They should not be lying to these people because these these actions of our current administration are going to have real world implications for average Americans, including people who voted for Trump. And I hope they remember that come November. Every time you ring the bell below, an angel gets his wings. [00:20:58] Totally not true. But it does keep you updated on our live shows.