The MeidasTouch Podcast
Dem Leader Hakeem Jeffries Reacts to Trump Crashing Markets
Thu, 03 Apr 2025
MeidasTouch host Ben Meiselas reports on Donald Trump crashing the markets and Meiselas interviews Democratic leader Hakeem Jeffries on Trump’s disastrous economic policy. Remember to subscribe to ALL the MeidasTouch Network Podcasts: MeidasTouch: https://www.meidastouch.com/tag/meidastouch-podcast Legal AF: https://www.meidastouch.com/tag/legal-af MissTrial: https://meidasnews.com/tag/miss-trial The PoliticsGirl Podcast: https://www.meidastouch.com/tag/the-politicsgirl-podcast The Influence Continuum: https://www.meidastouch.com/tag/the-influence-continuum-with-dr-steven-hassan Mea Culpa with Michael Cohen: https://www.meidastouch.com/tag/mea-culpa-with-michael-cohen The Weekend Show: https://www.meidastouch.com/tag/the-weekend-show Burn the Boats: https://www.meidastouch.com/tag/burn-the-boats Majority 54: https://www.meidastouch.com/tag/majority-54 Political Beatdown: https://www.meidastouch.com/tag/political-beatdown On Democracy with FP Wellman: https://www.meidastouch.com/tag/on-democracy-with-fpwellman Uncovered: https://www.meidastouch.com/tag/maga-uncovered Coalition of the Sane: https://meidasnews.com/tag/coalition-of-the-sane Learn more about your ad choices. Visit megaphone.fm/adchoices
Chapter 1: How did Trump's tariffs crash the markets?
The markets are tanking right now after Donald Trump announced across the board tariffs on the world, something he called Liberation Day. The Dow futures as of this recording are down more than 1000 points. The S&P is down about 3.7%. The Nasdaq is down almost 5%. This is
unprecedented market crashes right now and the white house doubling tripling down their official rapid response account saying liberation day and they're posting all the countries that are being tariffed worse which is every country basically we're seeing headlines like this from barons the stock market pain is just getting started this is how you sabotage the world's economic engine
And Treasury Secretary Scott Besson does the following, advising countries not to panic, not to retaliate right there. And then from Fitch, we have this is a game changer, not only for the US economy, but for the global economy. Many countries will likely end up In a recession, you can throw most forecasts out the door if this tariff rate stays on for an extended period of time.
From CNBC, the market reaction after hours. I've never seen anything like this. Worse than anybody expected. This is what Donald Trump said moments ago in this horrific press conference. Let's play it.
At the same time, we will establish a minimum baseline tariff of 10%. You notice that on the chart? And that'll be on other countries to help rebuild our economy and to prevent cheating.
So we're going to have a minimum of cheating and we're going to be very severe on the people at the gate that watch the tariffs and watch the product coming in because there's been a lot of bad things happening at the gate.
Let's bring in democratic leader, Hakeem Jeffries. Leader Jeffries, what do you make of all of this?
To be with you, man, you know, Donald Trump is a complete and total disaster on all the things. But at this moment, as it relates to the economy, this is someone who spent all of last year promising to address the high cost of living in the United States of America. In fact, he said that costs are going to go down on day one of his presidency. That's not happening.
In fact, costs aren't going down. They're going up. Inflation is going up. As you pointed out, what's happening is that the stock market is collapsing. And what that means is that the retirement savings of everyday Americans are disappearing by the hour. And this is all because of Trump's reckless mismanagement of the economy. And now these tariffs are
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Chapter 2: What is the White House's response to the market crash?
That's absolutely right. And the notion that everyday Americans need to absorb pain brought to us by Donald Trump and his group of mega billionaires is ridiculous. It's outrageous.
Every single one of the House Republicans and Senate Republicans supporting this kind of reckless approach, this unnecessary trade war, need to be thrown out of office and held accountable for the pain that they are intentionally inflicting on the American people. We have to ask the question. This is probably the first time in our history that an American president
is intentionally crashing the economy and driving us toward a recession. He didn't tell us about this when he was on the campaign trail last year. They have no mandate for any of this, no mandate to cut Medicaid, no mandate to try to take away Social Security.
Certainly, they don't have any mandate to drive this country into a recession, which is going to hurt hardworking American taxpayers and families all across the land.
Why do you think he's doing it? Do you think it's part of the authoritarian playbook? Is he someone who just has bankrupted a lot of the companies that he's created before, and this is just what he does? What's your take on it?
It does appear to me that this is what Donald Trump does. He somehow sold himself to significant numbers of Americans as a businessman, but he's a failed businessman, bankrupted multiple companies, and now Donald Trump is trying to literally Bankrupt America. And we do have to ask the question, is there some financial gain involved here?
Because we've seen significant corruption coming out of this administration. I mean, they're peddling Teslas on the White House lawn. You've got the cryptocurrency schemes that are underway. He's even trying to sell Easter. And so all of these things are happening. This is the most corrupt administration already in American history. They are going to be held accountable.
I can promise that to the American people. And we are gonna get to the bottom of why these reckless tariffs have been put into place, which are spiraling us toward economic collapse.
I've been hearing from a lot of our viewers see Democrats now going out. I mean, you told us this is what was going to happen. Democrats going out, not just in their home districts, but in red districts across the country, leading rallies. You've been leading events as well, focused on Social Security and Medicaid. We've been seeing this across. So you're up in the fight right now, right?
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