Paul Krugman is back by popular demand. Even though one prominent viewer with no influence over this program attacked Professor Krugman after his last appearance here, Donald Trump leveled an insult at Paul Krugman. Far worse than anything ever said about a Nobel Prizewinning economist, but not as bad as many of the things Donald Trump has said about me. Professor Krugwin will be given an opportunity here tonight to reply to Donald Trump's insult if he dares. But we begin our discussion with some of the eco ...

Economic Concerns & Impact - Tariffs are negatively impacting US economy and raising prices for everyday Americans, hurting small businesses operating on narrow margins [1][3] - Manipulation of economic data can lead to economic destabilization, similar to situations in Argentina, the Soviet Union, and Venezuela, potentially causing investors to leave [6] - Distrust of facts, science, research, and data is destabilizing and dangerous [11] Data & Statistics Manipulation - Concerns raised about a loyalist running the Bureau of Labor Statistics (BLS) potentially rigging statistics [1][4] - The nominee for a position at BLS has suggested eliminating the monthly jobs report [10] - Rigging statistics cannot change the reality of rising prices [5] Importance of BLS Data - BLS data, including the Consumer Price Index (CPI), is crucial for government agencies [7] - The Federal Reserve uses BLS data to guide monetary policy and rate setting [8] - The IRS uses BLS data to adjust federal tax brackets [8] - The Social Security Administration (SSA) and USDA use BLS data to determine eligibility for Social Security and SNAP benefits [8] - BLS data directly affects Americans' lives, benefits, and payments [9] - BLS data guides American economic policy and markets around the world [10] Political & Military Actions - Deployment of the National Guard in Washington DC is seen as contrary to typical Republican policy [13] - Concerns that the military is being used as a tool and weapon to distract Americans [15] - Potential for militarized force to be used against US citizens on US soil [16]

🇺🇸 JUST IN: Trump said tariffs have brought trillions into the U.S. without causing inflation. https://t.co/d4mE6HsxDk ...

Now that many of President Trump's so-called reciprocal tariffs are in place, the journalist Stacy Vanick Smith says the key question is who's paying for them. The White House has long maintained that foreign companies will foot the bill. But are they? I talked to economist Justin Wolfers from the University of Michigan and he said there are three and a half places where tariffs can the cost of tariffs can end up. One is foreign companies pay for them. Number two is US companies pay for them. Number three i ...

Consumer prices rose slower than expected last month as President Donald Trump’s tariffs gripped markets, according to federal data released Tuesday. https://t.co/SEwIZQ1CdI https://t.co/SEwIZQ1CdI ...

I wrote on February 3rd that the consensus view on tariffs were wrong.I explained why everyone was misunderstanding what was about to happen.Make sure you read the Pomp Letter daily...you will get accurate data and analysis before you read it anywhere else.https://t.co/E6GoKjvdJH ...

Political Commentary & Legal Analysis - The report suggests Donald Trump's Justice Department's request to unseal grand jury testimony in the Ghislaine Maxwell case was a diversion tactic [1][2] - A federal judge described the Justice Department's argument for releasing the grand jury transcripts as "demonstrably false" [1] - The judge stated the grand jury transcripts would not reveal new information of any consequence [1] - The Trump Justice Department previously stated they did not uncover evidence to predicate an investigation against uncharged third parties in the Epstein case [3] - The report highlights alleged irregularities in the Justice Department's motion to unseal the grand jury transcript, noting it was not joined by the trial team and appeared rushed [18][19] Tariffs & Economic Policy - The report claims Donald Trump's tariffs are a tax on American consumers, leading to increased costs and soaring inflation [34] - The report mentions Donald Trump delayed implementing tariffs on imports from China by another 90 days [28] - The report asserts that China has never paid tariffs to the United States [29][30] - The Congressional Budget Office certified that the bottom one-third of households will be poorer by $1200 per year as a result of a recent bill [37] Ghislaine Maxwell Case - The report suggests Ghislaine Maxwell's move to a minimum security facility in Texas occurred after a meeting with Donald Trump's former criminal defense lawyer [5] - The report highlights that Maxwell was charged with facilitating and participating in Epstein's sexual abuse of multiple minor girls [5]

Market Trends - Gold prices held losses after President Trump's statement [1] - The market awaits formal clarification on US tariffs policy regarding gold imports [1] Trade Policy - President Trump indicated that gold imports would not be subject to US tariffs [1]

On today’s Big Take podcast, Everybody’s Business host Stacey Vanek Smith takes us through Tariff 101: The nitty-gritty of how tariffs are calculated and collected, plus who’s really paying Trump’s tariffs so far. https://t.co/9FU5trfPRo ...

Economic Policy & Market Impact - The report suggests a shift towards "state capitalism" in America, resembling China's economic model, where the state influences private enterprise decisions [1] - AI chip manufacturers Nvidia and AMD are reportedly paying the US government 15% of their revenue from sales in China [2] - Concerns are raised that export controls are being used to raise revenue, potentially resembling "bribery or blackmail," rather than protecting national security [3][4] - The analysis indicates that tariffs are leading to an average effective tariff rate of 186% as of August 7th, the highest since 1933, impacting consumers and back-to-school shoppers [14] - Tariffs are expected to increase prices, and unlike pandemic-related inflation, wage increases may not offset the rising cost of living [17][18] Consumer Sentiment & Economic Anxiety - 86% of Americans find grocery shopping stressful, with 53% considering it a major source of stress [19] - Stagnant wages and soaring housing costs exacerbate the sensitivity to rising grocery prices [20][21] - Economic anxiety and insecurity could lead to political consequences [24][25][26] Political & Ideological Implications - The Trump administration is accused of pursuing policies that raise prices, suppress consumption, and lower productivity, described as "financial nihilism" [6] - The centralization of power in the White House is seen as a move away from market-based economics towards a command and control economy, potentially slowing long-term economic growth [11][12][13] - Concerns are raised that the administration's actions dismantle democratic norms and principles, assuming capitalism can function without liberal commitments [27]