🚨 Trump JUST SAID THE QUIET PART…

Absolutely pathetic Donald Trump is. admitting it's all over if Democrats. take control over either the House or. the Senate. Donald Trump says it's going. to be a great depression. It's going to. be all over. Dude, you would still be. the president of the United States, unfortunately, and it's expected that. Democrats are likely going to take. control of both the House and the. Senate. Who says such things? Oh, not. just Donald Trump, but that's also. Netanyahu's pitch heading into the. Israeli elections. If we win, Netanyahu.

says the stock market will be green, very green, very strong, very green. The. other scenario is very red. It would be. a major disaster, an economic disaster. And I point that out too because when. you have this is the main way that these. leaders are speaking, you either vote. for me or there'll be a global economic. depression. That's not normal behavior. for leaders cuz we should all still be. on Team America, at least here in the. United States that is, when it comes to.

no matter who's the president, we want. to see our country do freaking well, and. it's not right now. You look at the. latest prices of oil, and while I'm. recording this, who knows? Maybe it'll. be $120, $125 a barrel. As of this. recording, it's approaching $118 a. barrel, but I'm sure Trump will try to. do some more market manipulation. schemes, and so it's a very fast-moving, very volatile situation, which in and of. itself is not normal. That's not the way.

it should be, and the American people. are suffering one because of the rising. price of gas and diesel, which continues. to surge now essentially to record. highs, while the Trump regime so. cavalierly basically says, "Okay, we're. going to be at war again. We're going to. finish them off." What do you mean. finish them off? What kind of language. is that even to use? Finish them off? I. mean, do you realize what that means in. terms of global economic disaster, more. significantly, what that means in terms. of human lives, what that means for our.

service members, what it means for. people in Iran and for people in the. rest of the world. And then you have. Donald Trump's ambassador to the United. Nations, Walls. He gives an interview. with the Financial Times. By the way, the same media company that Besant. announced Operation Economic Outcast in. The Financial Times writes the story. quoting what Walls says, "Top-level. Trump guy, US is prepared for long. standoff with Iran", says Trump envoy. To which Mike Walls, who gave this.

interview, is the ambassador to the UN. for the United States, "I didn't say. that. They misquoted me. How dare you?". Okay, I just everything I misquoted. It's so unfair. The writer is not fair. We read your quote. That's what you. said. You said I wouldn't be surprised. if we're there for over a year. And then. Donald Trump posting things like this. "A healthy person has a thousand dreams. A sick person has only one to get. better." Donald Trump, what are you. posting? What are What are you saying? And here's what Donald Trump's been. saying at the rallies regarding the. economic depression. Let's play this.

clip. >> Now this to happen. In fact, the exact. opposite will happen. If the Democrats. win, you will have a 1929, and I hope this First of all, I hope. they don't win. But if they do, you're. going to have a 1929 style economic. depression because their policies are so. stupid. >> You would still be the president, stupid. What does Treasury Secretary. Besant have to say? Mr. Operation. Economic Outcast, who told us back in.

April Iran was about to implode. And. every day it's 2 weeks they're going to. get nuggies or cry uncle or whatever. he's saying. Here, listen to him. >> Just about this all the time. A lot of. conversation uh centered around. frustrations with cost of living, more. specifically energy. To anybody out. there who is is the question, you know, whether it's a it's a a trucker in. Topeka or a a nurse uh out in Phoenix. or, you know, whatever.

What has the Trump administration been. doing and working on to help me? Help me. so I can pay my bills. Help me so this. economy works in a way that benefits me. and the American people more broadly. What's your answer to that? What do you. say? >> I Yeah, and but look, sometimes I feel. like an emergency room doctor uh the. Biden administration backed over the. American public with the biggest. inflation uh in in two generations, in. 50 years. >> Bro, it's almost November of 2026. What.

do you know like an emergency room. doctor? You're the Treasury Secretary. That's what you are. You're the Treasury. Secretary. I want to bring in someone. who's the Midas Touch Network chief. economist and founder of Platypus. Economics, Justin Wolfers. Justin, why. don't we talk about the price of oil. first? And then I want you to talk about. this kind of broader, really deeply. concerning language about economic. depressions being used as a campaign. tool, which is unprecedented and not.

normal. Not unprecedented in Trump. times, but that's very dangerous when. you have people saying that at that. level. But first, let's talk about the. price of oil right now. >> Yeah. Let me give a bit of context for. why I think it's so important to talk. about oil. Um. We all want to know what's going on. right now in the Middle East. We want to. figure out whether our policies over. there make sense, whether our military's. being well led, whether there are good. decisions being made, whether we're any. closer to the solution of the. 4-to-6-week war we were promised a mere.

7 or 8 months ago. And the thing is, everyone from the. administration will come and they'll. just say words. And to be honest, not. clear it's more than words. They're. they're all near each other, but it's. not clear they have any resemblance to. the truth. We understand this. They're. running for re-election. Um so what we want to do is try and get. word from folks who are betting real. money, putting their money on the line, who are researching the issues deeply. And that's. one way of thinking about oil futures. markets, right? When you're forced to. bet millions of your own money in a.

financial market, you're going to tell. the truth. because lying is just going to lose your. money. And so I think they're one of the. clearest sources of information for the. American people. That's why I spend time. looking at them. And it's really been striking. It's been. a. really very, very difficult week um for. world oil markets. So. uh the price of Brent crude is up to. nearly $120 a barrel, which if you don't. follow that all the time, let me just. say the word that goes with that is holy.

crap. That's not the part that worries me. though. You see, there's also futures. markets where people are basically. betting what's going to happen to oil in. the future. It is the case, it's more likely to go. down over time than up. But remember. before this war began, these markets. thought oil would be $60 a barrel for. years and years to come. They don't see. that returning anytime soon now. And in fact, what we're seeing is the. foundations of a political problem for. the next election. I don't mean the. midterms, I mean the next presidential.

election. If you look at November 2028 futures, they currently are at the highest level. they've been, which is to say that the. uh the the foreign policy problems are. going are in the midst of transforming. themselves into a political problem for. Republicans when it comes to the next. election in 2 years time, but it's not. just about them. It's also about you and. I. This is markets saying, I think we're. stuck. I think we're stuck in the Middle. East. I think we haven't figured out how.

to open the Strait of Hormuz. I think we haven't figured out how to. get out of there. And I think if you're. struggling right now with high oil. prices, the bad news is I think we're. stuck there. And I I that is a very, very important message. You won't hear a. lot of it, not because of a conspiracy, but because it takes some degree of. sophistication to know, let's go look at. the futures markets to figure that out. And I think they're speaking very. clearly right now, Ben. >> Now, Justin, when we talk about the. price of crude, we are actually talking. about a futures market, a more truncated.

future, right? There's a spot or dated. price right now. That's if you really. wanted to, which is not how we usually. gauge it. So, the spot and dated price. is actually closer to $150 a barrel, which is that kind of monster number, right? Then there is the price of crude. when we talk about $117, $118 a barrel. That's a futures. contract, but we're talking usually. what, two to three months out or so.

Then there's a broader kind of futures. market where people have looked ahead to. hedge a year out or even longer, and. that right is where you're now seeing. these numbers saying, "2028, 2029.". Um and those hedges would often be. viewed for people who really don't need. it. For the ultimate futures market. acquirers, you know, or they're just. going to hold the paper and then, you. know, arbitrage it in the future, whatever they're whatever they're going.

to do. The fact that that market it has. no end in sight. Am I articulating it in. a way that I'm a decent enough student. of the market? >> I am going to give you a prize. It's a. prize that, you know, you fancy LA folks. might not like, but those of us who are. academics really love. You win nerd of. the day because your love of the detail. of these markets, A plus. And let me bring it back to the. kitchen table. During the early days of the war, you. wouldn't have thought about, "Hey, what. can I do to reduce my energy usage?".

Because we were promised it was over in. four to six weeks, in out round and. about, everything's going to be cheaper. This now is saying, "Get used to it.". And so, you know, I'll tell you. something my family did. We just got for. the first time ever an electric car. That's a form of diversification. It's a. form of looking after my family. We're. going to be okay. even if these price the oil prices. remain high for a while. I'm not telling. everyone to go out and buy an electric. car, but I'm saying if you're on the. fence right now,

the logic of that is looking a whole lot. better today than it would have been. back when we were being told that this. was somehow temporary. >> Justin, want you to address before we go. though these statements of economic. depression. Um and in the hands of these. authoritarian leaders, they wield that. as I alone can fix it. If you don't vote. me, there is an economic depression um. now. In the Netanyahu case though, if he if if he loses, it's a. parliamentary election. He he's out. It.

gets more complicated. They have a. system where lots of different parties. and there's horse trading, but we'll put. that aside. With Trump, he's still the. president, sadly. And you would just. have a house or Senate or both that. would be controlled by the opposite. party, which if you're a dealmaker, you. still be able to make deals and we'll. figure it out. But to say, "I would. still be the captain of this team in the. executive branch and there'll be a. depression if I don't control all. branches of government." That's a deeply. dangerous thing to say to markets that.

demand predictability. >> Yeah. Look, um. there's so many levels we can take that, but I just want to put the recent clip. you just showed. This was President. Trump in 2026 talking about the midterm. elections. Now, I also want to go back. I just pulled it up, the quote from the. final presidential debate in 2020. He said if he, that's Joe Biden, gets. in, you will have a depression. the likes of which you've never seen. Your 401(k)s will go to hell. Well, none of that happened.

Um the president when he forecast the. depression is relentlessly and. repeatedly wrong. Because he's not sincere. He's lying. He's bullshitting. He's fear-mongering. And what's sad about this um yes, there's a degree of statesmanship one. might hope for even a degree of. truth-telling. Or even a degree of looking out for the. country because if you scare people, you. know, the old expression we have nothing. to fear but fear itself. That's actually.

really important for thinking about. economics because fear of a recession. can actually cause a recession. It's. profoundly irresponsible. for any leader of any country ever to. say, "Geez, I reckon there's going to be. a recession coming." Because that in. fact can create its own reality. Um it's disappointing that the president. thinks so little of the American people. There's no economic indicator. in sight that says if you've got a. Democratic House and a Republican. president. that's going to cause a depression. I don't even know how would?

Because the Democratic House doesn't. appoint the Fed chair. The Democratic House. in order to get any budget work done, fiscal policy, it has to get signed by. the Republican president. There's just no way that this adds up. So, this is. fear-mongering. And. you know, this is when we move from. economics. Look, the economics of. everything the president said was horse. and nonsense. So, then personal values. Uh do you think it's okay to win an. election not on the quality of your. ideas. but the quantity of fear that you can.

sow even when you know and have a track. record that shows the fear has no. foundation in reality. >> Yeah. And what. I think we fear as people who care about. this country when the pilot, when the. captain instills a level of fear, do. people want to be on that plane? And in. a global marketplace. that's the Treasury market, that's the. equities market. That is uh building. businesses in the United States. And it.

is all of that. And you know, we we So. it's why it's important to have a chief. economist at the Midas Touch network. right now, to have a steady hand at the. wheel. Um and what you've built over at. Platypus is incredible and an engine. that is needed now more than ever. So. everybody go and subscribe to the. Platypus YouTube channel as soon as this. video is over. That's Justin Wolfers. YouTube channel. Put in the comments. that I said hi. >> One book, a whole lot of WTF. My. brothers and I wrote WTF America about.

how we got into this mess, the millions. of you who refuse to back down, and how. we get out. Scan the QR code, click the. link in the description, or find it. anywhere books are sold and order today.