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Unknown A
All right, guys, I got some big breaking news here for you. So the markets absolutely tanked because Trump came out during a press conference, was asked about the tariffs on Canada and mexicoember about a month ago. He said, we're gonna put the tariffs on them. And then he had a meeting at the last minute with the President of Mexico, Claudia Schinebaum, and Trudeau from Canada. And basically, he found a way to sort of weasel out of doing the tariffs by saying, oh, we made a beautiful agreement. Mexico is going Toa send 10,000 troops to the border to make sure the fentanyl stops coming in. And he used that to be able to get out of doing the tariffs, because as every economic expert will tell you, this would be cataclysmic for the U.S. economy. I mean, to be cataclysmic for the Mexican and the Canadian economy as well.
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Unknown A
But. Well, he was just asked, hey, how about those tariffs? Like, are they going to go into effect? And he says, yep, they're going into effect tomorrow. And then he was asked if there's any wiggle room in that. And he was like, nope, there's no wiggle room. The tariffs are going into effect tomorrow. And these are steep tariffs. Man, this is crystal. Was it 15% or 25%? 25%. Tariffs on Canada and Mexico are top allies. And so the market reacted in real time and absolutely imploded. And look, I don't want to overstate it, but if he were to go through with these tariffs, it would be just an economic disaster. You're basically looking at, like, a guaranteed recession, potentially a depression. In fact, the Atlanta Fed came out earlier today and predicted 2.8% decrease for our GDP. Okay, that now we're getting into, like, just horrific territory here where we're talking about widespread pain.
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Unknown A
And if you put together what Trump's going to do with the tariffs, mix with all of Elon Musk's austerity, again, we're looking at a catastrophe here, the likes of which we haven't seen since probably 2008. But in all seriousness, it might surpass 2008. So I wanted to share this with you because this is very prescient. This is a tweet from a guy named Jake. He says, if I wanted to crash the economy, I think I'd put on indiscriminate tariffs, push cheap labor out of our country. That's all the mass deportations, slash public jobs. That's what Elon's doing. Cut public spending. That's what the Republicans in the House and Senator doing promote an alternative to the dollar. That's all the crypto bullshit. And incentivize every global ally to partner with China. And that is effectively what Trump is doing with how unstable he is on the global stage.
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Unknown A
Pushing everybody into the arms of China and bricks making, you know, the dollar become less and less relevant and less and less likely to be the global currency of the future. I mean, geez, man, this is, this is really, really not looking good. And this could only be the beginning if he really goes through with these tariffs. This is only the beginning here of the pain and the economic calamity. Like, like I said, the stock market crashed, countless people will lose their jobs. It'll be a massive contraction if you really go through with these tariffs. By the way, this is an article that just came out. Daily Beast. Trump tariffs set to send car prices soaring up to $12,000 higher. That's just one thing too. We're just cars we're talking about here. $12,000 higher. Go. Don't take my word for you. Go read the list of all the stuff that we import from Canada and Mexico, bro.
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Unknown A
So Trump also came out and said to the great farmers of the United States, get ready to start making a lot of agricultural product to be sold inside of the United States. Tariffs will go on external product on April 2nd. And then he finishes the tweet with, have fun, man. That is a cutesy ass way of basically telling farmers, you are Fosville like you, you're screwed. My policies are actively going to destroy you. And so look, then now this gets to a broader conversation of like, why on earth would you do something that you know is going to be so disastrous for the economy? And I mean, there are some ugly answers to it, right? I mean, one thing is if you really have a giant recession or economic depression that does allow Trump and his fellow robber barons, a group of 20 or 30 or maybe up to 100 people to swoop in and buy everything up cheap, right?
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Unknown A
To really get us back truly to a Gilded Age type system where there's just a handful of people own everything and everybody else is effectively a peasant. And so it, I mean, I really don't know how to impress upon you guys just how colossally disastrous this, this can be here. And I'll wrap on this. Remember when Elon Musk said that there's going to be some necessary, quote, necessary economic hardship, necessary economic pain if Trump is elected. And he said, hey, embrace the pain. Remember, their favorite world leader is Javier Malay, who's an anti government fundamentalist and anarcho capitalist. And what Javier Malay delivered to Argentina is a 53% poverty rate. And I'm not kidding when I say we are on track to move closer to that number in this country. If he actually follows through with these tariffs, if they keep doing austerity and cutting government spending and cutting government jobs, if they actually follow through with basically destroying Medicaid and cutting Social Security.
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Unknown A
I really don't have the words to put into context for you what this country looks like if all of that goes through. I mean, we're talking about legit pitchforks in the street type moment flooding the street, total political instability, probably political violence on a regular basis. I really, I said this earlier. I don't think this country can can survive another round of neoliberalism. And not only is there another round coming, it looks like it might be the worst round coming.