Secretary 92,000 jobs out in in in in February. Fewer jobs in healthcare, fewer jobs for information services because of AI. The weather hurt things. Government employment down. If you add it all up, it doesn't look good for the Trump economy. [00:00:19] Yeah, I couldn't agree with you. I think we have to address the fact that this is not a good report in its raw numbers, but we have to also talk about why this possibly has happened, this snapshot in time. It was mentioned the weather. Yeah, it was probably the weather that did it. [00:00:35] We've never had bad weather in February before here in America. And now look, she went on to explain other stuff, some strikes and stuff like that. And okay, those are excuses. And maybe, by the way, they might be persuasive ones. Maybe they placate people that the economy losing, losing 92,000 jobs [00:00:52] in the month of February is okay. But the bigger issue is that this keeps happening. If you look at this chart of job growth, going back to basically the beginning of the Biden administration. By the way, can you guess when Trump was inaugurated on that particular chart? [00:01:09] Roughly every other month, the economy loses jobs, which means that on the months where we gain jobs, it's basically net zero, but not the type that leftists have been asking for. And not only did we lose the 92,000 jobs in February, but they also revised some previous months, subtracting 69,000 more jobs too. [00:01:29] So overall, regardless of the weather, this is not good economic news. Yeah, it has begun, guys. So the, the AI apocalypse has begun. So we're at the very, very beginning of it, the first jobs report where it's beginning to show up. So you saw Jack Dorsey's company fired 40% of their staff, 4000 people gone. [00:01:51] And I've now seen a number of different reports. Amazon beginning to fire people. Coders are getting fired, in big numbers. AI can easily do the entry level coding jobs now, the mid-level coding jobs. So it's only going to get worse. It's going to pick up steam. [00:02:09] And as it continues to happen, all these people will tell you, oh no, it was the weather. The dog ate our jobs. All these excuses. No. And part of the reason they don't want to talk about the AI apocalypse is because the stock market loves the AI companies. Yeah. [00:02:24] So like, and everyone in the government is invested into AI and Silicon Valley, etc. So they're all like, what do you mean Nvidia's up? The Dow is at 50,000. It isn't any more, by the way. And, but but for the rest of us, like an economic slaughterhouse is about to begin. [00:02:42] That's those are strong words, right? But you're going to see terrible times ahead. And now, normally I don't say that. And I'm saying that now it's going to get bad. Yeah. It should really be inspiring some platforms going into 2028 dealing with this. And you're right. [00:02:57] None of them want to admit that the stock market's built on a house of cards, that these job losses are coming. And like, that's the downside for AI. But, but the upside is think about like all that AI can do, like you said, coding like. Grok produces some high quality child sexual abuse material, I suppose, [00:03:15] so it can do a few different things. But anyway, yeah, I think we should lose our economy. Our future should fall apart so that we can produce really high quality videos of Will Smith eating spaghetti. I don't know, but anyway, that's what our economy is now. Overall job numbers are bad. [00:03:32] Let's jump into what's being affected right now by Donald Trump's foreign policy. That would be oil. Oil has surged 35% this week for the biggest gain in futures trading history, dating back to 1983. [00:03:48] That is a big jump, and it could get even worse. Qatar's energy minister told the Financial Times that Gulf exporters would halt production in days if tankers cannot pass the Strait of Hormuz. This could spike oil prices to $150 a barrel in the coming weeks [00:04:03] and bring down the economies of the world. Now, we're not there yet, but already the rising oil prices are having an effect on gasoline. I don't entirely understand exactly why, considering that one would have to imagine the gasoline that's at your local gas station. [00:04:18] That oil or gas was bought before this, but for some reason they jack up the price anyway. But regardless, prices are going up. Gas prices. The oil prices have topped $90 for the first time in years. And then you can see in the chart down below the yellow line [00:04:33] of when the fighting in Iran began is kind of right there at the bottom of the spike in oil prices, but the spike is there. And so Donald Trump has been lying for a full year about the price of gas, continually saying that it's $1.99 when it has never been so. But it did go down at least a little bit over the last year. [00:04:51] That's gone. We're now higher than we were when Donald Trump was inaugurated. And like with the inflation caused by the tariffs, this is not an act of God. Donald Trump caused this because of his stupid choices. Gas prices have gone up 9 to 11%, depending on your stay on average [00:05:07] in just the last couple of days. And so that's potentially a big issue. We know that people are super sensitive to the price of gas. That's like the big thing people say will affect midterms. So he's going to have to be very careful and sensitive about the way he talks about this issue. [00:05:23] Here is how he's been talking to reporters about it. I asked about rising gas prices and he said, that's all right. It will be short term. It will go way down very quickly. And I said, well, they're pretty high now. And he said, no, they're not. They're up a little bit, not much, but it will drop to record lows. [00:05:41] And so I asked, well, does this mean that you're going to figure out the Strait of Hormuz soon again, something you were just talking about. He said, quote, it's already figured out we've knocked their Navy because, you know, when you knock out the Navy, they can't do what they wanted to be able to do. [00:05:57] The Navy is almost. He said, we just hit the 25 mark. Can you imagine that? Big ones, 25 ships are down. We're doing very well. And I am pretty sure that that is a word for word accounting of what he said. [00:06:13] So whatever, it will be temporary. And that wasn't just like an off the cuff thing, but he's gotten his messaging under control. His messaging about this sucks. Over and over again he was asked about higher prices at the pump and he said, I don't have any concern about it. And please don't tell me you're going to put that in ads. [00:06:31] They'll drop very rapidly when this is over. And if they rise, they rise. But this is far more important than having gasoline prices go up a little bit. Yeah. Don't even worry about it. Stop whining. And so that's the president. Nobody expects him to have message discipline. But weirdly enough, this now seems to be spreading to other Republicans. [00:06:50] And I want to give you just a little bit of representative Mark Alford and what he had to say about gas prices rising. I think we all know that when you have a kinetic conflict like this, whether you want to call it a war or not, we are putting energy resources, money into this. It is going to take a little bit of a sacrifice on the part of Americans. [00:07:09] Yeah, sacrifice. That makes sense. That's the sort of thing that politicians do talk about. But but I have a couple of questions about that. So why exactly should we sacrifice for it? I mean, we don't support this war. And we made that very clear before you launched it. America didn't elect a president that was saying we'd get into this war. [00:07:26] In fact, he said the exact opposite. We have no interest in this war, and it hasn't been even vaguely described what it is that we stand to gain in exchange for our sacrifice. And why exactly is it us doing the sacrificing? I mean, Donald Trump wants the war and Benjamin Netanyahu wants the war. [00:07:42] How about they do a little bit of sacrificing? Does anybody think that Donald Trump is losing a buck over this? Seems strange. Maybe he could like, I don't know, cut into your ballroom funding a little bit. If you want to pay for this war that you want so bad and I'll throw to you, [00:07:57] but it's likely to get even worse. Even in the short term, because Kuwait is now cutting its oil production because of fallout from Iran. Their reasoning, they say, is that they're running out of storage space for oil because they can't ship it out because of the danger to the oil tankers. [00:08:16] And so they need to cut it, and they're going to. They might have to ramp that up even more of cutting it down. And when they cut it down, they can't just spool it up again in a day. That's not how it works. And so this could get really bad. Yeah. So, a couple of things to add to that. [00:08:33] First yesterday we showed you Financial Times reporting that the Gulf countries are now saying we're done with overseas investments. We've got to spend our money to take care of our own defense. And America, we thought was going to protect us. But it looks like we're not getting much protection. Most of the protection in the defense is, of course, you're never going to guess [00:08:50] which country it's going to. Ireland. Oh, that's so close. Scotland? No of course. Yeah, it's of course it's all going to Israel. So they're irate. So now they're not going to be investing into our country anymore. Among other things that are a consequence of this war. [00:09:07] And then, right now, gas prices are $0.13 higher than when Biden was in office. Trump told us when Biden was in office, the gas prices are the worst we've ever seen. Disgustingly high. It's the worst. Well, it's $0.13 higher now. It's not a big deal. It's it's only a tiny raise. [00:09:24] It's no big deal. Just suck it up, okay? America. Who cares? Israel's got to have its war. So now, guys, in terms of the economy, the AI, situation is not his fault. AI would, scenario would have happened to any president. That is an inevitable course of history that's happening right now. [00:09:43] On the other hand, wouldn't it be amazing if we had a president who was preparing for it and who was going to be ready when it hits? It doesn't seem like Trump is even 1% aware that AI is going to cost us an enormous amount of jobs. I've never heard him talk about it once. [00:09:58] I've never heard anybody in his administration talk about it. And let me guess, once it hits, they'll say, we're working on a concepts of a plan. No, no, you need to be making a plan now. We're going to go to at least 10% unemployment. I would be thrilled if it was just 10% unemployment. [00:10:16] And we haven't had 10% unemployment in my lifetime. This is going to be epic disaster. And they're not 1% ready. Okay. Yeah, so really, I, I kind of think that they like it. I think they love the idea that millions of young men might be out of work, [00:10:31] and then they'll be sitting at home, and they'll be consuming online content and being radicalized and angry about their economic future. And what do those men tend to turn into when propagandized to by the right? - But what. - Are they? Be soldiers? Yeah, but even if that's true, what are they going to inherit? [00:10:48] A hollowed out country in decline. Like, no, this isn't for the men. This is for the elites that want to have. I would also say I do think they're preparing for it at least a little bit, because they have been repeatedly trying to pass laws stopping states from regulating AI. Yeah. [00:11:04] There's, there's another way that this could go. Millions of angry young men with no hope for the future can decide that their politicians were full of crap and sold them out and then be super angry at those politicians. Yeah, that's the other way it could go. [00:11:20] But hey, keep playing with fire and see how it turns out. Okay, so lastly, the gas prices are 100% on him. Normally gas prices fluctuate. Are not on a president, Republican or Democrat. You've heard us say that many times, right? But unless you're Bush or Trump and you start a giant war in the Middle East, [00:11:39] which is guaranteed to raise gas prices. Yeah. So that one's on you, brother. And there's no disputing that. Finally, to your point earlier, John, one of our viewers on super chat user error five wrote in, we need to go back to the days when the king needed to personally lead the army, [00:11:56] or at least send their kids to fight. If they have something to lose, they'd never start this garbage. Yeah, but of course, since we don't have that Bush, Cheney, Trump, etc. Like, yeah, bomb away and send in the pores. Send in middle class Americans to die for me and Israel and the oil [00:12:14] companies and the defense contractors. None of our kids will go, but you're fodder for our war machine. Yeah, this is not going to end well, both in terms of politics in this country, because there's going to be rage. And definitely in terms of the economy. Every time you ring the bell below, an angel gets its wings. [00:12:31] Totally not true, but it does keep you updated on our live shows.