Speaker 1: This is the warning. And yesterday, shortly after four pm,
Speaker 1: when the stock markets closed, Donald Trump ambled out to
Speaker 1: the presidential podium and declared trade war America against the world.
Speaker 1: He said, this is the key to our country being
Speaker 1: great again. The Republican members of Congress cheered, and his
Speaker 1: sycophants went on TV to celebrate. This is a decisive moment.
Speaker 1: Millions of Americans will be hurt. But politically, though it
Speaker 1: will not seem like it today, Donald Trump has destroyed
Speaker 1: his MAGA movement. It will be remembered as an instrument
Speaker 1: of economic recession, if not depression of lost dreams and hopes,
Speaker 1: as a crusher of prosperity. And there is no country
Speaker 1: that will pass a higher price than the United States.
Speaker 1: And there is no group of voters, none that will
Speaker 1: be more impacted, that will be more hurt by this
Speaker 1: than Donald Trump's own voters.
Speaker 2: We have to take care of our people, and we're
Speaker 2: going to take care of our people first.
Speaker 1: And I'm sorry to say that every single thing that
Speaker 1: an American purchases will go up in less than one
Speaker 1: hundred days. Donald Trump has set the following in motion.
Speaker 1: Wages will go down, prices will go up, unemployment will
Speaker 1: rise as prices go up and wages go down, and
Speaker 1: because of the uncertainty, there will be no hiring. Everything
Speaker 1: will freeze.
Speaker 2: And today we're standing up for the American worker, and
Speaker 2: we are finally putting America first.
Speaker 1: The American economy had a lot of problems with it,
Speaker 1: no doubt, but the answer to the most competitive, most innovative,
Speaker 1: most entrepreneurial economy on planet Earth was not de detonated.
Speaker 1: But the buffoon in chief, our mad King Donald knows best.
Speaker 1: And so let's have a taste of the insanity as
Speaker 1: it was announced, and then we'll see Scott the Scent,
Speaker 1: the Treasury Secretary talking in absolute, incoherent terms on CNN.
Speaker 3: One of the messages that I'd like to get out
Speaker 3: tonight is everybody, sit back, take a deep breath, don't
Speaker 3: immediately retaliate. Let's see where this goes, because if you retaliate,
Speaker 3: that's how we had escalation.
Speaker 1: Now let's focus on the Treasury Secretary's dishonesty. And unlike
Speaker 1: the Commerce Secretary Howard Lugnik, five star shister, the Treasury
Speaker 1: Secretary actually has a position of responsibility with deep consequences
Speaker 1: for their actions.
Speaker 2: Donald Trump understands America, he understands American workers, and he
Speaker 2: understands national security. And thank goodness, he's going to protect us.
Speaker 2: And today's the beginning of him really protecting America and
Speaker 2: making America first.
Speaker 1: And in this answer you see how dishonest and incoherent
Speaker 1: all of this is. The purpose of the tariffs is
Speaker 1: to raise prices high enough so that companies will be
Speaker 1: forced to make their products in the United States. As
Speaker 1: the means to lower the prices so that people will
Speaker 1: buy the product. Treasury Secretary is comparing apples and oranges. First,
Speaker 1: These Trump tariffs are massive. The initial Trump tariffs were minuscule.
Speaker 1: Yet even with those minuscule tariffs, taxpayers had to bail
Speaker 1: out the bankrupted farmers. So the economic impact of these
Speaker 1: tariffs will be taxpayer bailouts. For example, for the farmers
Speaker 1: in Iowa that a bankrupts. Does that make sense to
Speaker 1: you if you're a lawyer in New Jersey, it does not.
Speaker 1: Today the stock markets will crash, trillions of dollars will
Speaker 1: be wiped from people's retirements, and Donald Trump doesn't care.
Speaker 1: He has assaulted the country's national security establishment, he has
Speaker 1: assaulted the rule of law. He has assaulted the constitution.
Speaker 1: What Donald Trump is is an arsonist. And so this
Speaker 1: is a day that will be long remembered because it
Speaker 1: is the beginning of an economic disaster that began not
Speaker 1: by confluential forces, but by the push of a detonation
Speaker 1: button designed in the Oval Office. And no matter what,
Speaker 1: no matter how bad and how chaotic things get, Donald
Speaker 1: Trump will go out there and he will say we're winning.
Speaker 1: In the media. We'll lap it up until it becomes
Speaker 1: too farcical to continue. That happened during the Second Iraq
Speaker 1: War when Baghdad Bob was standing in front of the
Speaker 1: Baghdad airport and he said there were no Americans at
Speaker 1: the airport as the American tanks came by. And that
Speaker 1: is what will happen with the American economy. His misery
Speaker 1: has spread. Donald Trump is trying to recreate a world
Speaker 1: that's gone and it will never come back. The world
Speaker 1: of the nineteen fifties, of the nineteen seventies. We live
Speaker 1: in an integrated global economy that has made the United
Speaker 1: State dates the richest nation in world history. The distribution
Speaker 1: of the share of that wealth inside the boundaries and
Speaker 1: borders of the United States, that's a domestic political issue
Speaker 1: that won't be impacted one way or the other by
Speaker 1: these tariffs, except for it will make everybody poorer. There
Speaker 1: is no plan. Donald Trump doesn't have a plan, but
Speaker 1: he's not allowed to be told no to. And so
Speaker 1: we spiral and we drift, and he's surrounded by sycophants
Speaker 1: who stab each other in the back to be the
Speaker 1: first to say yes. And then they run out of
Speaker 1: the room, stabbing each other in the back to be
Speaker 1: the last to ever be in a position to have
Speaker 1: to say no to madness. And that is where we are.
Speaker 1: The country is in crisis. The fruits of the electoral
Speaker 1: decision are coming due, and there will be immense suffering,
Speaker 1: more homeless, more hungry. There will be chaos, there will
Speaker 1: be crime, and in the end, economic war has always
Speaker 1: yielded to the real thing. The most disastrous decision made
Speaker 1: by free people in the world anywhere in the last
Speaker 1: eighty years has been made by the American people, who
Speaker 1: have grown fat and slothful, lazy and decayed enough to
Speaker 1: elect a con man hustler from Queens to the office
Speaker 1: of President of the United States. And every person who warned,
Speaker 1: who said what was coming was different, what was coming
Speaker 1: was terrible, will be proven right because what is coming
Speaker 1: is terrible. Indeed, this is the warning, and I'm Steve Schmidt.
Speaker 1: This is the warning. I invite you to join this
Speaker 1: community where I promise to be honest, blunt and direct
Speaker 1: about what is happening in this country. ARCA is in crisis.
Speaker 1: Follow and subscribe to this channel and on substack. Thank you.