🚨Trump Falls RIGHT INTO IT…

Checking in on the Trump regime's. so-called Operation Economic Outcast. Oh, wait. It is backfiring in their. face. Treasury Secretary Bessant. continues to post how strong Operation. Economic Outcast is. How Iran is on. their knees and they're basically. begging for a deal. And he posted the. other day on the Treasury Department. account which he reposted today as part. of Operation Economic Outcast. Treasury. is targeting the remnants of Iran's.

shadow fleet. He says, "Okay, economic. outcast." On the same day you're posting. about that, you have Iran's President. Pzeski and over in Turk Menistan meeting. with Vladimir Putin and Putin invited. Iran as the honorary guest to this. summit in Turk Menistan. So Iran is. being embraced over there at the BRICS. meeting, at the Shanghai Cooperation.

Organization meeting. And then Donald. Trump announced on Friday a major deal. that he was doing the major diesel deal. with Russia. And he talks about 300,000. tons of diesel immediately, then 500,000. tons during the month of November, and. perhaps 1 million tons immediately. thereafter. Interesting that he puts. this in tons when you break that down in. terms of barrels, how we usually speak.

about it here. I mean, you're talking. about in some cases less than two and a. half million barrels and you're talking. about overall if you added all of this. together, you know, I don't know if you. added the most optimistic scenario of. all of this diesel, I don't think it. would even cover a single day, um, and. if you look at just 300,000 tons, that's. like less than the amount that goes on. one tanker. you know, one of those. VLCC's, those very large crude carriers.

That's what they're basically talking. about. This is the big deal. If you. actually read into what Donald Trump was. saying though over here, he was saying, and we'll keep on doing more of this. deal with Russia based on the condition. of their diesel refineries, which is. basically a message to Zalinski to try. to shake Zalinsky down to stop striking. the Russian refineries over there. And. so we all also know that Russia when. they met with President Pzeski of Iran.

and before that have talked about being. strong allies how they provide weapons. to Iran, Iran provides weapons to. Russia. And so Donald Trump's plan in. based on the catastrophic war in Iran. was to sanction Iran but then remove the. sanctions against Russia while Russia is. allied with Iran. And then Donald Trump. wants to promote more deals with China. while China's doing more deals with.

Iran. I I want to bring in Justin. Wolfers over here from Platypus. Economics. Go subscribe to his YouTube. channel at Platypus. also uh he's the. chief economist at the Midas Touch. Network, also an economics professor at. University of Michigan. Justin, good to. see you. What kind of economic outcast. is is this where you now are doing deals. with the main ally of the person you're. economically outcasting while that same. person was meeting with the Iranian.

president the other day? >> It's wild. Um let's start on principle. and then we'll go to economics. The. economics, by the way, here is. fascinating. But let's just start on. principle. Why is it that the US wasn't. buying diesel from Russia? It's because. when we buy diesel from Russia, that. gives them money for arms to. uh to to go to war with Ukraine. And the. United States in its wisdom, as did. other leading industrialized countries, thought it best to starve that regime,

the Putin regime, of the of the income. it needs to to fight a war. And in fact, we strongarmed other countries into. joining us on this. We now find. ourselves in the most perilous of all. situations according to the president at. least as far as I can tell that he's. willing to sell out that principle and. what he's going to get in return is some. diesel before the next election. But. first, you know, step one, let's just. notice there was actually a principle.

behind not buying Russian diesel. There's economics behind it and there's. a sense that it weakens Russia and. therefore their their ability to wage. successful war. Second, the other. country we're trying to uh cut off from. the rest of the world is Iran. Uh but. Iran's trading happily with Russia, which therefore means if the US is. trading with Russia, it's kind of sort. of as if the US is trading with Iran. Uh. US dollars are going to end up in Iran.

And in fact, Iranian oil is will likely. end up in the United States. And if not. Iranian oil, maybe some Russian. household's going to burn Iranian oil. and the Russian household gave Americans. Russian oil. But the moral implications. and the economic implications end up. being remarkably similar to if the US. was just turning up to Iran and saying, "You know what? Let's uh let's buy some. of your energy and you'll end up a. little richer um giving you more. economic might to fight the United. States." And if you feel very confused.

by this, you should. But Ben, that's. what I think sort of the how we got. here. But I think also, you know, I'd. like some at some point I definitely. want a chance to talk through what in. fact Trump got out of this because the. answer turns out to be not very much. Let's talk about that. But the question. that I have is one I mean does he know. that he didn't get a lot out of it and. is getting a lot out of it in terms of. actual things does he not even care.

about that? I mean, right, >> the intention when he says, "I brought. in $21 trillion." I mean, we can get. philosophical here. [clears throat] Does. Does he really think he br I mean, is he. really that demented and that psychotic. that he truly believes he got in $21. trillion? I That doesn't make it better, you know, or or is it 100% the fraud. because we didn't bring in a trillion? The whole thing is made up. It's so.

farcical and you see the debt increase. to over $40 trillion, the deficit's. increasing, uh, federal spending is up. You know, you go through each metric and. go, "Okay, we're not bringing it. anywhere. It's just a madeup number.". You know, is the point of this because. he knows in the past he manipulated the. markets when he would make these. announcements. I just do this. announcement with Putin. We just talk. about now it's Trump and Russia in his. own mind that'll move markets.

And then you look at the numbers and I'm. just going to say 300,000 tons and. 500,000 tons. The market looks at this. and you know like what are you talking. about? This is nothing. This is not any. amount of diesel that impacts anything. at its most optimistic. But is is this. part of just market manipulation? And. look, Putin does this with his. population, too. I mean, he engages in. this type of stuff. Trump does it here. Is this all just part of the farcical.

lies that they just tell? Because it. certainly isn't real. >> It's a good question. So, I don't like. to pretend I know what's going on in. someone else's head, but to answer your. question, I don't think I have to. So, is it possible that the president. doesn't know what I'm about to teach the. audience? Yes. So when I first read in. the newspaper that we're getting 300,000. tons of diesel, I didn't immediately. right there and then at that moment. know, you know what, that's not very.

much. I had to get my old pencil out and. I had to actually write down some. numbers. I had to convert the tons into. gallons and I had to remember this was. diesel, not oil. And I had to think. about over what time period and it took. me a little while to figure out. So it's. possible the president doesn't know. The. second thing here is 300,000 tons. It just sounds like a lot and it's. actually something this is a theme I. keep returning to. I know I've talked. with you about it before, Ben, but I'm. going to return to this my whole life.

Our minds are not well equipped to deal. with numbers on a global scale. Our. minds are not well equipped to know be. able to picture a million of something, a billion of something, and a trillion. of something. There's a lot of psychological research. on this, but I think also just a little. bit of introspection would tell you that. if I asked you to imagine 300,000 tons. of oil, well, boy, it just I mean, it's. would definitely do more than fill my. living room, but would it fill Michigan.

stadium? Would it flood my whole town? Is it enough for people to get by? These. are hard questions where you got to. actually get that pencil out and do the. work. So, that's the second answer, which is I think not knowing off top of. your head's okay. The third answer is. well the bloke's got advisers. Now the. thing is when you are a boss and you. have advisers. the most important thing you have to do. is make it easy indeed encourage your. staff to tell you the truth and.

certainly I you know Ben you're a boss. of at Midas and I am at Platypus and I. have students and so on and I at the. university and I always want to give. them every encouragement to tell me the. truth but not everyone's built that way. Some people hate bad news and whoever. brings them news they don't want to hear. is shown very quickly how unwelcome they. are. And so I I'm raising this because. this would be a theory of how the. president could even though he uses our.

tax dollars to spend millions of dollars. on economic advisers. It could be. they're not giving him good advice. essentially because he's not asking for. good advice. So, I still want to come. back and I want to make the case to your. audience that you and I can be empowered. to do the analysis ourselves and figure. out what, as far as I can tell, the. White House either doesn't want you to. figure out or hasn't figured out itself, which is this is tiny. Let's take. 300,000 tons of of diesel. Uh, that. turns out to be, you did the math right, Ben, about 2 and a/4 million barrels of.

diesel across the whole. So that sounds. like a lot, doesn't it? Across the whole. world. And remember, this is a global. market. So even though this diesel will. be sent to the US, that's going to free. up more US diesel to get sent elsewhere. Across the whole world, we use up about. 28 million barrels of diesel a day. So. if Russia had been an island cut off. from the rest of the globe and now we're.

integrating it and bringing in this 2. and a4 million, it's adding 2 and a4. million over a period of weeks or months. to a world that drinks this stuff at a. rate of 28 million barrels per day. Which is to say this whole deal on which. we're selling our principles down the. river. is going to be enough to add roughly 2. hours worth of diesel use to global. supply. Once you understand that, you understand. that there's no there there 300,000. tons, 2 and a4 million barrels. It's.

just not very interesting. What this is. is a headline that I think they're. hoping no one bothers to interpret. So, the president is breaking bread with. Putin, which many of us think is just a. moral wrong, and he's getting two hours extra diesel. supply added to the global global. economy. You use the example of my. leadership at the Midas Touch Network or. you running a business as well. The.

great example is what people are. watching right here. We're doing a video. on economics. There's things that I'm not an expert in. that you are. You know, even in areas. involving the law and I'm a lawyer. I'm. a litigator. But I'll do videos with. Harry Litman because he clerked for two. Supreme Court justices. I didn't. He was. the top guy. He was a United States. attorney in Pennsylvania. I wasn't, you. know, and so even in this example,

pulling in expertise and then learning. and knowing what your blind spots are, to me, that's just a quality of of. leadership. And you know, also when we. talk about these things, too. >> Ben, could I pick up on that because I. want people to know something about you. So when when we first started talking. together, you said to me, Justin, your. job is to tell me the truth. I could be. more entertaining. I could tell you. outrageous things and I could maybe that. would even bump up, you know, your.

audience size, but you said Justin, tell. me the truth. And by the way, that was. the moment I knew that you and I would. get on because my threshold is I will. only ever tell the truth. But um you. know that is a form of leadership and I. just the folks at home don't get to see. you in that role but I do and that truth. thing you're committed to deeply and. that's why people around you are. truthful. I appreciate it and because. look if we brought in $21 trillion and. our debt decreased from 39 trillion to.

12 trillion and real wage growth was. increasing 10 12%. and GDP was four and. a half 5% exactly what Lutnik said. It'll have a four in front of it. It'll. have a five in front of it. You know, all the BS that they said if all of a. sudden their tariff plan went against. everything Nobel laurate economist said. and all of a sudden inflation went down. and somehow they got the countries of. origin to pay for it, not here. And all. of these things happened over the course.

of now basically two years. And we look. back at it. I wouldn't be like, I don't. like Trump and because I don't like him, I don't like him. I would be like, here's what worked, here's what didn't. work. And these, it's just the reality. of the situation. But when you know from. the outset these things are so phony and. fraudulent and you know when you speak. to experts who are also saying, "Yeah, this is what it is." And then everything. that you and others warned about are.

happening. That's it. It's not a. personal thing. I think because politics. and all this stuff becomes so gy and. gified that it's often viewed as, oh, you're anti-Trump or you're anti- this. or you're anti- that. No, I'm I'm anti. the people that are causing my people, the broader population of people the. pain and that's and that's it. You know, that that's my closing statement on this. video, but that's why I do this. And so, you know, just just talk about this. journey. maybe not with me, but like as.

we're here approaching, you know, the. end of, you know, we're heading into. October, what how do how do you contextualize. this because this house of cards has. fallen apart and it was so predictable. Um, so I'm here because I am deeply. committed to the truth. That's the only. foundation I know how to stand up on. And so what we've seen over the past. couple of weeks is. literally the most ridiculous policy. claims of the entire Trump.

administration. Um some of the fiddling. about with diesel and with gasoline and. fuel. The claim that he just gotten 100. million gallons from Europe. One that's. not much and two he didn't get it. Um. there's a certain desperation in the. air. And so there's not enough minutes. in an hour and there's not enough hours. in a day, Ben, for you and I to talk. through each of these things. Which is. why I think that the real power here. lies with the people at home. What I try. to do when I'm on the Midas network is.

give people I don't tell you the truth. I want to show you how you can get there. yourself. So that next time there's an. outlandish claim made that has a lot of. zeros and feels inhumane and very very. difficult to understand, you've got the. tools to do things like count the zeros, do the long division, think about what. it means at an individual or a personal. level. Ask [clears throat] yourself. whether it makes sense so that you've. got the the the the power and the. ability to fact check what's going on. because right now is an absolute. cavalcade of nonsense. Justin Wolfers runs the Platypus.

Economics YouTube channel. Make sure you. subscribe there when this video is over. and he's the chief economist at the. Mitus Touch Network. Thanks, Justin. >> Thanks, man. >> Breaking news right now. My brothers and. I wrote a book. It's called WTF America. And well, doesn't that just say it all? It comes out officially this October, but you can pre-order your copy today. Just scan the QR code or click the link. in the description below. [music].

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