Whoa: Fox host turns on Trump live on air - Brian Tyler Cohen

[TexasTowelie]

It's Kudlow.

Transcript:

i got to say I did not expect that Fox
hosts would be the ones schooling Trump
administration officials but I guess
that's just how disastrous Trump's
economic policies have become art
doesn't believe that the trade deficit
should be a metric uh I don't really
either i mean Mr secretary if if you get
your tax cuts and I guess you're well on
the way you get your deregulation these
are all huge progrowth items okay we
will grow we the United States will grow
faster than Japan we will grow faster
than almost anybody therefore almost by
definition by growing faster than the
rest of the world we're always going to
have a trade deficit so I don't know why
you'd want to use the trade deficit in a
calculation for a reciprocal charge i
understand your point about non-tariff
barriers i get that that's why I would
have chosen a handful of countries I
don't know maybe 10 or a dozen countries
and really carefully pinpointed it but
to apply this to the whole world on the
basis of trade deficits is that really
the best in your judgment you've been
around a long time you've looked at
these you've done analysis is that
really where we should be at well look
Lar Larry the trade deficit as you and
Art know is a result of three things the
uh it it's a result of the terms of
trade it's a result of our budget
deficit and it's the result of the level
of the dollar now I know this topic
seems a bit dense but it's actually
quite simple so I want to make sure that
everybody understands here the reason
that our economy is crashing right now
and the stock market is tanking right
now is because Trump decided that our
trade imbalances with other countries is
a sign of America being ripped off now
in reality a trade deficit means that we
are importing more than we export not
necessarily a bad thing it just means
that Americans want more of those
imports than foreign countries need of
what we're selling i'll use an example
that I've used before because I think
it's a helpful one madagascar produces
80% of the world's vanilla we don't
produce vanilla here in the United
States and so we need it now Madagascar
is also one of the poorest countries in
the world which means that Madagascar
probably isn't going to import much from
the wealthiest country on Earth because
our goods are probably going to be too
expensive i mean hell many of our goods
are too expensive for Americans which is
why we import cheaper goods from other
countries anyway of course Madagascar
isn't going to reach trade parody with
the wealthiest country on Earth but so
what we need vanilla they produce
vanilla we buy it there's no problem but
in his infinite wisdom Trump has now
imposed a 47% tariff on Madagascar
because they don't import as much from
America as we import from them so here's
the result we still don't produce
vanilla here in the United States which
means that we're still going to import
vanilla from Madagascar only now it'll
be 47% more expensive because remember a
tariff is a tax paid not by the foreign
country but by the importing company and
is then passed on to the consumer that
means us we are the consumer we pay more
for vanilla now thanks to Trump's tariff
and guess what madagascar still isn't
going to import as much because it's
still one of the poorest countries on
Earth so the literal only difference
here is that we Americans will pay more
money for something that was cheaper
just last week but hey art of the deal
and beyond that who cares if there's a
trade imbalance that's not a bad thing
it just means again that we need more of
other count's goods than they need of
ours why are we punishing foreign
countries for selling us what we need is
the United States suddenly going to
become a vanilla producing country
donald Trump is an idiot who thinks that
trade imbalances are bad when they're
not it's just a trade imbalance we
import what we need they import what
they need the notion that one of the
poorest countries in the world with by
the way a population of 30 million
people needs to import as much as the
richest country in the world with 350
million people makes zero sense on its
face and certainly makes zero sense as a
basis to plunge us into a voluntary
recession and I can't believe that I'm
going to cite Larry Cuddlo here but he's
right when he explains that the US as a
strong growing economy will run trade
deficits because we're growing faster
than other countries which means that we
consume more than other countries the
reality is that we can't produce
everything here in the US so we have to
look elsewhere it's not a sign of
weakness it is inherently a sign of
strength and yet now Trump has
squandered that advantage and instead
unilaterally and voluntarily plunged us
into an economic downturn in other words
he took a healthy hot economy decided
based on some arbitrary backwards
ideology that we were getting ripped off
when we weren't he stopped that hot
economy in its tracks punished us and
our trading partners and plunged us into
an economic slowdown where I guess we
don't have to worry about being ripped
off anymore because now no one is making
any money anywhere all thanks to one
person in fact it's not just Kudlo who's
losing his patience with this
economically illiterate manchild here's
Dave Portoi i almost tweeted out Dave
how much you down right now in today 7
million i'm down seven million bucks in
stocks and crypto and it's tariff city
trump has put his tariffs all over the
place i've been trying to understand
them i don't like it's more a trade
deficit tar tariff to me like hey we get
this much from you and you get this
much from us let's even that up let's
get some wacky formula and do
tariffs and everything's in the
because of it and here's Ben Shapiro
yesterday President Trump declared that
it was in fact Liberation Day his giant
tariff policy that he just dropped on
the market unilaterally probably
unconstitutionally trump's reciprocal
tariffs impose hundreds of billions of
dollars in new taxes on Americans be the
largest tax increase since the Revenue
Act of 1968 one of the biggest tax
increases on American consumers in the
history of America and it's going to
cost American consumers it will cost
American producers who use inputs from
other countries the Dow Jones Industrial
Average plummeted immediately more than
a thousand points the S&P 500 plummeted
more than 3% the Nasdaq plummeted almost
4.5% there are real world implications
for this sort of stuff trade wars are in
fact not good and not easy to win
particularly if you don't actually have
a plan it is predicated on a bad idea of
how international trade works a
fundamental misunderstanding of trade
deficits trade deficits are a they're an
accounting procedure trade deficits have
pretty much nothing to do with the
health of an economy i can name you a
period in American history where there
was a fairly large surplus in America's
balance of trade the entire Great
Depression in fact we might even see
some Republican senators acknowledge
their own autonomy and use the power
that they've already contracted out to
the God King to instead reign him in
according to reporting from the Hill
seven Republican senators including
Senator Chuck Grassley the Senate's
President Prompor Senator Mitch
McConnell the former Senate Republican
leader have signed on to a bipartisan
bill that would require Congress to
approve President Trump's steep tariffs
on trading partners grassly and
McConnell have joined five other
Republicans Senators Jerry Moran Lisa
Marowski Tom Tillis Todd Young and Susan
Collins in supporting the Trade Review
Act of 2025 the legislation would limit
Trump's ability to impose unilateral
tariffs without the approval of Congress
it would require the president to notify
Congress of the imposition of new
tariffs and increase tariffs within 48
hours and provide an explanation of the
reasoning for the action and I got to
say it sure is funny watching these
Republicans scramble to figure out how
to clean up the gunshot wound when it
was them who handed Trump the gun in the
first place these bulls of human jello
have contracted every single ounce of
their power to Trump knowing full well
that he is an idiot who has been
threatening to sink the economy because
of his backwards idea of tariffs since
the day he entered office this is like
if a 5-year-old spent every day for
months telling you that paint looks
yummy and then you leave him in a room
with a bucket of paint you don't get to
be surprised when he eats it you
left Trump in a room with a
bucket of paint and only now when the
kid needs to go to the hospital are you
recognizing that maybe paint should be
locked up out of reach of children all
of which is to say this was predictable
and yet none of the Republicans gave a
these people were so worried about
showing loyalty showing feelalty to
daddy Trump that they allowed their
supporters like Larry Cuddlo like Dave
Portoi like Ben Shapiro like millions of
other Americans to get screwed over by
policies that we all warned would usher
in economic disaster this is what
happens when you reward Republicans with
power and look I'm not here to reitigate
the 2024 election but I am here to ask
that you not support a political party
moving forward that felt that this was
an appropriate thing to do knowing the
risks because ushering in economic
catastrophe is anything but
appropriate before you go first if you
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[Uncle Joe]

1. After the Madagascar example Cohen states beginning at about the 3:30 mark about how a trade imbalance

is a sign of a country's strength not a weakness, because it reflects growth and ability to buy other nation's products.

So I thought if *rump's people are deliberately undermining the United States, and believe in Karl Roves generally acknowledged strategy of "attacking your opponent's strength."

This makes sense.

https://www.quora.com/Why-does-Karl-Roves-strategy-to-attack-your-opponents-strengths-work

Thanks for the thread Texas Towelie