Donald Trump thought he pulled a fast one on us this morning. He announced once again that the Iran war is almost over and he did it exactly one minute before the stock market opened at 930 AM Eastern time. We're going to show you the post, the consequences. But first [00:00:18] Cenk, what do you make of Trump's good morning post about the war? Okay, there's two different problems going on here guys. One is Trump and his insiders robbing us blind through insider trading. But the second bigger one is now even the top business experts in the world [00:00:35] are saying, yeah, the people on Wall Street have lost their minds. Why are they believing Donald Trump? We're about to hit a giant iceberg. That's going to affect all of us. So I need you to hear all the facts and then we'll analyze. So here's what Trump wrote this morning. Iran [00:00:52] has just informed us that they are in a state of collapse. They want us to open the Hormuz straight as soon as possible as they try to figure out their leadership situation, which I believe they will be able to do. Thank you for your attention to this matter. Yeah, of course, definitely a war time scenario where the other opposing side says, hey, we're struggling, [00:01:13] please help, we give up. But Trump's truth social posts are no doubt influencing the price of oil. Energy experts say that the president's inconsistent and unreliable posts about the Iran war on the cusp of causing another oil price spike. They claim that right now prices [00:01:31] are quote artificially low due to the president's job owning, but they won't stay that way forever. Even as the global price of oil has crept up over $100 per barrel on the futures market, it is significantly less than the $140 per barrel spot price, or what it would take to buy a [00:01:50] barrel today. The president's promises can only work for so long. supply of oil, especially in Europe and Asia, is dwindling and a price shock is coming, said Dan Pickering, Chief Investment Officer at Pickering Energy Partners. He said that when the summer driving season [00:02:07] begins, there will be another gas price shock that hits people in the face. Pickering stated there's a day of reckoning coming. It'll be painful because I can tell you that the stock market's ignoring this. The big problem with the administration's strategy was pointed out [00:02:25] by Rosemary Kalanick, who works at a libertarian think tank called Defense Priorities. She explained that Trump keeps signaling the war is about to end, but that means oil companies aren't producing any more than necessary. By talking about the market so effectively, when the price [00:02:42] spike becomes inevitable, it's going to hurt way worse because we will have lost weeks or even months of time. producers could have been ramping up output. Even some US oil and gas industry executives are frustrated with Trump's rhetoric. With one respondent to a recent Dallas [00:03:01] Fed survey saying the president sends conflicting signals to operators who cannot plan rigs and capital budgets when prices swing wild based on tweets. That respondent continued, our hypothesis is that the paper market is being manipulated. This will likely lead to an even worse supply [00:03:20] and demand imbalance and higher prices in the medium term in the next 12 months. And there's more but Jenk want to bring you in here. It seems like the market, the financiers should understand what's happening here, but it still seems like there's just a collective confusion [00:03:39] among the wealthy and the money elite. Yeah, there's two different things like I said earlier. First on the oh inside of trading, The markets open at 930 when you put out a statement at 929, Donald Trump, we see you. So he's done this now many times right before the markets [00:03:58] open. He says something that's going to usually bring the price of oil down. And then coincidentally, there happens to be a person or an account that is making massive bets on the price of oil going down right before he does that. That account made $58 million on one bet alone in [00:04:15] one of these statements. So there are a lot of theories on uh who is handling that account. There are even rumors that it's Barron Trump. uh And so I don't know. But I do know that it is awfully convenient that there's an insider that it seems to know exactly when he's going [00:04:30] to make these announcements. Now you actually could crush that bet and if they're working on margin make them lose a lot of money if everybody piles onto the opposite side of it. Once they realize that every statement from Donald Trump is fake, but that's complicated. But and so [00:04:45] that's about one particular scam and that sucks and we should catch that person and we should put him in prison for a long time. She'd get at least 20 times what Martha Stewart got in terms of punishment. But more importantly to Jordan's question, what are the markets doing? Jordan, I don't have an answer. It is amazing to me because every day I wake up [00:05:07] thinking, well, I mean, they're gonna figure out at some point that Donald Trump is a comical liar, right? No. Every time he says something, they believe it. That's why this story is kind of cathartic for me, because it's some of the top uh business and energy experts in the world [00:05:23] going, Jesus Christ, how dumb are these Wall Street guys? You believe Trump? No, he's obviously lying to manipulate the markets and to keep the price of oil artificially low. But supply and demand is a bitch. There's no way around supply and demand. Every capitalist knows that. [00:05:41] So you could fake it for all this time, at the end of the day, once you know what's happening guys, the tankers that went through the Strait of Hormuz earlier were filled with oil. They're docking and being sold at these artificially suppressed prices. What they mean by the spot [00:05:57] price of oil is if you go to buy oil now because the tankers can't make it through the Strait of Hormuz going forward, it costs about $140 per barrel. And that's just a matter of time before it catches up with us. And even if they open up the strait now, Jordan, it would still [00:06:13] take forever for those tankers to go all the way around. And some of the drilling has stopped. That's gonna make it much longer. Some of the facilities have been bombed. That's gonna make it years later. So it was just kind of refreshing to see, especially political reporting. Yeah, [00:06:29] your eyes are not deceiving you. We have an economic disaster ahead of us. And it's shocking that Wall Street is believing Donald Trump's puffery. mean, people are going to feel it. We saw what happened with the Biden administration trying [00:06:49] to tell people, no, there's no inflation. Everything's great. You're doing fine. It doesn't work because people can look at their bank accounts. They can look at their monthly statements. They can see their costs rising. It's their reality. And I think the Trump administration is going to try that same thing. No, it's just temporary pain. It's for your national security. Nobody's [00:07:08] life. has materially changed for the better or for the worse as a result of this war. Here in America, generally speaking, of course, people directly impacted. Yes, but I think you all know what I mean. But they're going to try this. Don't believe your lying eyes. And even before [00:07:24] all this future inflation as a result of this, when we see this shock, people are furious. In fact, the Gallup poll found that Americans feel worse off now financially than any other point. In 25 years, that includes Cenk, the financial collapse, the global meltdown. Significantly, [00:07:46] Gallup has been asking respondents whether they feel their finances are getting better or worse. 55 % now say worse. Few key takeaways from the data that was collected, people are more dissatisfied right now than they were during the 2008 and 2020 recessions. 2026 marked the fifth year [00:08:05] in a row that Americans their finances were getting worse, not better. And 31 % cited cost of living as their biggest financial problem. Cenk, it's only a matter of time. I think we just give it one or two more years. And finally, this late stage capitalism will finally turn [00:08:24] around and fix things, am I right? Hadn't yet, but so you call it late stage capitalism, I call it corporatism. And no, corporations and foreign governments being in charge of our government hasn't worked out uh overly well for us to say the least. uh So uh back [00:08:44] to the disasters that's coming and that have already arrived. We'll be back with the news. But first, I wanna tell you about something that's made my day a lot easier, and that's Cookunity. Cookunity has helped me stay balanced and nursed with my everyday meals. Especially when I run the company and I host a show, I have so little time to cook. They're the first [00:09:03] meal delivery service bringing you high quality locally sourced meals from award winning chefs right to your door. Lately, I've been looking for something to eat between the tons of meetings I have throughout the day. So I recently tried their mission style carnitos burrito with salsa verde and Mexican crema. 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In LA, gas is over $7 already. So we've already been impacted. Yesterday we did the calculation and costs about $60 to $80 per trip to the gas station. Extra [00:10:38] on top of what we used to pay and all that money that's getting drained out of our pockets is to serve Israel in this nonsensical war that is only for Israel and has nothing to do with us. It's only done massive damage to us already. So that's point one, but you're not seeing what's happening in the rest of the world. That's point two. So there's shortages now and I've [00:10:58] been telling you about South Korea and India, but now it's spreading. There was more in Europe, more in Asia, now in Southeast Asia as well. And since we produce more oil, we're a tiny bit more insulated because the oil's already here. Whereas their tankers, once they've [00:11:15] sailed and they've docked in South Korea, and you've gotten that oil, now after that, since the strait is closed, South Korea is not going to be able to get oil for a long time at least through that route, which then reduces the amount of oil they have overall. And because [00:11:32] of supply and demand, that means their prices skyrocket and they just literally don't have enough energy. a lot of these countries are going to blackouts, etc. By the way, side note here, Israel is so maniacal because that is making people throughout the planet furious [00:11:49] at Israel. And remember, they don't live under American media propaganda. So there isn't like constantly in South Korean cable news, there isn't propaganda going, Israel is your special ally. You need to suffer for Israel, you need to give money for Israel. You need [00:12:05] to run out of oil for Israel, you need to have blackouts for Israel. Since they don't have that and their media says to them, yeah, Israel causes more and now we're all screwed. That's why what seemed like out of nowhere, but it is not at all out of nowhere. South Korea, [00:12:21] their government, is berating the Israelis and yelling at the Israelis and are super mad at him. And of course, Man Yao who's like, you better not do anything to us, you'll be next. Okay, he said that to Spain, but I'm sure South Korea will be next. He thinks he can bully [00:12:37] the whole world, but the world is suffering because of this war. Now come back home, point number three. Guys, there are things in economics called leading indicators and lying indicators, okay? So oil is a leading indicator. When you have problems with oil, you're going to see [00:12:52] it in your gas prices first. But uh food prices, aluminum prices, and so many other things, transportation costs, planes, trucks, and hence the goods that the trucks uh transport, [00:13:09] all of those things are lagging indicators. Which means we haven't even hit the main part of the iceberg yet. What you're experiencing today, is us just grazing the iceberg. But we're about to hit the center of it when those landing indicators come home. And that's if [00:13:25] you end the war today, we're already going to get that disaster. If you do not end the war and you continue the war, and you bomb Iran's oil facilities and they bomb the Gulf oil facilities, and the Strait of Hormuz is indefinitely blocked, my God, you have no idea how bad it's going [00:13:43] to get. And Jordan, I just- I literally can't imagine it at $140 per barrel, which is gonna probably happen soon. It's already going to have so many reverberating consequences that are disastrous for our economy. People are going to be furious at what happens next. If they [00:14:03] continue the war, it's political suicide, let alone economic suicide. Yeah, it could get very ugly very quick. We're very short on time, but I mean, it's really scary to think about [00:14:20] what that looks like. You say the shock, the economic shockwaves we would see throughout almost every sector of our economy and the global economy, it very bad, very fast, and it's because of Trump and Netanyahu. Yeah, and we're all forced to pay that price and it's disgusting.