It’s not going to come as a surprise to most
people in our audience that when it comes to factual knowledge, right now we have a
president that doesn’t, yeah, no much about economics, doesn’t know much
about trade, doesn’t know much about currency, doesn’t know much about finances or debt other
than personal debt or credit or jobs or any of it. But that has not stopped president Trump from
having very strong opinions about all of these things for sure. But in addition to not knowing about any of
these things, Donald Trump has another interesting quality, which is that he’s completely out
of touch with the average American. So in other words, because he’s been rich
for a long time, he got rich by building a business. Well, his family was already rich. He personally built his wealth, uh, by creating
a business on the back of a small loan of $1 million from his dad, and then even more
money from his dad. You have to take that privileged status and
combine it with his ignorance on so many of these financial issues. And that’s where you really get an understanding
that Donald Trump, by the combination of lacking knowledge and being completely out of touch
with the way that the average person lives, he can’t possibly understand your financial
situation and clearly he doesn’t understand your financial situation. Here is Donald Trump being asked about recession. Recession fears have no fear. Walmart is doing well. Trump says, and everyone’s rich. So how could we possibly end up with a recession? I don’t think we’re having a recession. We’re doing tremendously well. Our consumers are rich. I gave a tremendous tax cut and they’re loaded
up with money at their buying. I saw the Walmart numbers there were through
the roof just two days ago. Uh, that’s better than any poll. It’s better than any economists and most economists
actually say, Phil, that we’re not going to have a recession. Most of them are saying when I can have a
recession, but the rest of the world is not doing well like we’re doing the rest of the
world. If you look at Germany, if you look at a European
Union, frankly, look at the UK. I mean, look at a lot of countries, they’re
not doing well. China is doing poorly. Parts of Asia are doing poorly, right? Walmart’s doing well and people are rich,
so everything’s fine and a recession would be impossible. This is what happens when you combine total
ignorance on all things economic with weaponized narcissism and the life of blinding privilege,
literally blinding privilege that blinds him from understanding what the world is like
for most people. Now, what’s fascinating is that Donald Trump
isn’t merely saying there can be recession. He’s saying if there is one on the off chance
that there is one, it will have been the media’s fault as an attempt to get them to lose the
2020 election. So we can now continue to build our picture
ignorant on all financial and economic related matters, blinded by ignorance, weaponized
narcissism and a level of paranoia that rises to the level of diagnostic. If there were to be a recession, we would
blame the media who has been reporting on me in such a way to cause the economy to go
into a recession. This is the trend under Donald Trump stocks. Did well this month. Oh, Donald Trump deserves the credit. Of course, stocks did poorly this month. It was the Fed, it was the media, it was China,
it was whoever the president can think of. But the most disappointing and outrageous
thing is this idea that everybody is doing well financially. Trump doesn’t see, and when I’m, when I say
that, I don’t mean he refuses to recognize. He’s just not exposed to the reality that
40% of Americans can’t afford an unexpected $400 expense without having to go into debt,
take out a loan, go to a payday loan place, borrow money or whatever the case may be. Start charging stuff at interest. Trump sees his cabinet, his golf members,
his family, the people he interacts with every day, and that’s it. Everybody’s rich. How could we possibly have a recession when,
excuse me, when Trump says everyone is rich, I guess he means everyone that matters to
him is rich. Everyone that he needs to please is rich. So there’s the message from Donald Trump. We definitely would not be having a recession
because everybody’s rich. But if we did, it would be normal because
other countries are having recessions and it would be the fault of the Fed and China
and the media. Definitely not his fault if that were to happen,
this counts. I mean, we’ve fallen so far in terms of what
counts as political positioning and discussion in 2019 America that that position counts
as a political position. Trump’s been doing great and stocks are flying
high, except when they’re not. It’s because of the Fed and China and the
fake news media. Whenever I see these headlines, Trump says,
can’t have a recession because everyone’s rich. I still have a reaction in my brain, deepen
my brain. That is a pre-trump reaction, which is there
is no way that an American president would ever say this, and that’s, by the way, after
having lived through two terms of George W. Bush, I still have that reaction in my brain. Trump used a sharpie or, or someone in Trump’s
administration and use the Sharpie to change the path of Hurricane Dorian on a chart, which
we’ll get to later. That can’t be true. Oh, but it is. It is true. And then I look at the quote or I look at
the video, or I hear from one and one of Donald Trump’s flunkies. And not only are the headlines typically accurate,
the reality of actually reading the quotes or looking at the video are often even worse
than the headlines even suggest. I hope that his voters will hold them accountable. Now, I don’t want a recession. I know that there’s a contingent on the left,
very small that wants a recession in order to, to, to remove Donald Trump. That’s not me. There’s a big contingent of the right that
claims much of the left once a recession to remove Trump. That’s based on a completely false assessment
of the left. I want a good economy. If we get one and uh, uh, uh, Donald Trump
is reelected or not reelected, the economy being good is good for many people, even though
it still doesn’t work for tens of millions of Americans. If we do get a recession, I still don’t want
one. If Donald Trump’s supporters recognize that
it’s because of him, at least partially that the recession was precipitated, then the question
becomes will that make them vote for a democrat? Because if not, then it’s all merely academic
and hypothetical. So that’s what I want to talk about next,
how our consumers as Donald Trump refers to them feeling about not only the state of the
economy, but Donald Trump’s role in it now and his potential role in a future recession.

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100 thoughts on “Trump Says Recession Impossible Because Everyone’s Rich”

  1. I guess that homeless man living in the cardboard box Trump likes to spit on, on his way to McDonald’s is “rich.” Who would have thought.

  2. Lack of knowledge is O.K, that can be fixed! However, the complete lack of integrity and conscience are much much worse!

  3. Im not rich. Im poor i eat nothing except one meal a day. If you have two meals a day your lucky.wtf.i have not gone any where are gone to a movie because its not in my budget. Wtf rich. Not when you cannot buy clothes ever. Thats not rich.fools.

  4. Trump is the best president ever! no one else could ruin the country as good as he is doing! and yet, his supporters still support; and the Republican party still keeps silent.
    Can America survive another year of Trump the most racist corrupt unknowledgeable president ever? he never gives details about anything – always super vague. that's because he does not know anything, nor does he care about the subject he is talking on.
    he's like a 10 year old boy trying to give an oral report on a book he never read.

  5. I bet trump was the kid who when he did poorly in school blamed the teachers. Or when it was time to fight in Vietnam had a doctor that owed his dad a favor write a letter stating he suffered from bone spurs.

  6. People die from heart attacks every single day, why isn't this fast food loving fucker dead already? C'mon heart disease, you owe us one strategically placed death!

  7. donnie even now claims to have attended Wharton! Which he sis not. Though it is true that donnie has a degree in "Economics."

  8. Wonder if this is his favorite song, Trump to Putin:
    Don't know much about history
    Don't know much biology
    Don't know much about a science book,
    Don't know much about the french I took
    But I do know that I love you,
    And I know that if you love me, too,
    What a wonderful world this would be

    Don't know much about geography,
    Don't know much trigonometry
    Don't know much about algebra,
    Don't know what a slide rule is for
    But I do know that one and one is two,
    And if this one could be with you,
    What a wonderful world this would be

    Now, I don't claim to be an "A" student,
    But I'm tryin' to be
    For maybe by being an "A" student, baby,
    I can win your love for me

    Don't know much about history,
    Don't know much biology
    Don't know much about a science book,
    Don't know much about the french I took
    But I do know that I love you,
    And I know that if you love me, too,
    What a wonderful world this would be

    History
    Biology
    Science book
    French I took
    But I do know that I love you,
    And I know that if you love me, too,
    What a wonderful world this would be

  9. Chairman of the Fed announced yesterday there is no recession in the immediate future how come fake news leaves this out.. fake Pac-Man news. For the delicates

  10. People need to get over their 2016 trauma, Trump is gonna get eviscerated in 2020, his slogan is "keep America great" and he's saying shit like "consumers are loaded with money" the opposite of the populist message that got him elected in 2016, his ego is gonna get the best of him

  11. Trump is a fucking idiot. The world is laughing at our country cause we allow that idiot to stay in office. He's a joke.

  12. NO BODY WHANTs IT. BUT WHEN YOU SEE smoke there is fire but you almost never see the Light first OF the fire first, YOU SEE SMOKE.

  13. Say that if we as a nation go down… Will we hold him to what he says? Will we nod along and agree that the media is at fault?

  14. Hes not saying the things you said. Hes clearly talking about businesses doing well which they are. Your talking points are idiotic and i feel dumber having popped in to listen. My IQ decreased by at least 100 points having listened to this. Keep dumbing down america

  15. I work at a hospital. I make somewhat decent money and my wife does also. Still, we are one of the people that would get wrecked by an emergency. We both work as much as we can, we don't have tons of credit cards or anything, and we both try not to go nuts buying things we don't need. But the reality is that the cost of living is outrageous where I live (and many other places too) and every so damn day is a struggle. But it’s even worse for other people! Also, the people I work with that have better paying jobs are also struggling. Fucking everyone I know is at the edge. Fuck that noise.

  16. That’s just dumb people speaking. Not everyone’s rich trump. To prove you’re an idiot, remember when Bush brought us a recession? I believe their are many many rich people too but yet we were in a recession. Tell me how you became president when you can even be logical?

  17. 🤚"Xcuse me! ☝️They're spending and 👌saving and ☝️spending and 👌saving & by the wa—🖐️ EXCUSE ME! People say the're 👌spending and ☝️not spending—👌No recession, ☝️No obstruction! FAKE NUDES!

  18. Funny thing is i sworeeeeeeeeee that this was a click bait title. I thought no way this guy (as dumb as Trump is) no wayyyyyyyyyyyy he really said "no recession cause everyone is rich". Please… please make this be one of those deepfake videos i keep hearing about. He can't really … sigh. I'm done.

  19. Doesn’t matter. The economy is supposed to be good and unemployment so low yet most of us still struggle. The economy might be good for companies but it has yet to translate to the average person. There’s still a lot wrong. We’ve never recovered.

  20. Trump did not build his business. His dad left him millions so he hired people (that were much smarter) to run his company while he spent the profits on Russian prostitutes to piss on him. Money can buy people to run companies and even dumb asses like T-rump, being so stupid ,can still make money.

  21. I think that trump needs to get off of whatever he's smoking, because he's not making a damn sense what so ever. Then again, he never f***ing does at anytime.

  22. So bc I'm not rich does that mean I'm not a citizen being counted? Or I do not matter? LOL After spine surgery due to a cat accident, no longer able to work & being a single mom, I am lucky to get bills paid. I'd love to have a lil extra just to put away or take my son somewhere fun. (My daughter lives with her fiance so it's just my son and I) But Trump says we are all rich. I am rich, but not by his definition. I have 2 wonderful kids, I'm alive & people actually like me. Something Trump will never have. Trump wouldn't know what to do with limited monthly funds. He needs a big reality check on who the citizens of this country really are.

  23. Seriously? Does he know 45% of Americans live in poverty?
    Does he understand that TARRIFS+ TIME=
    DEPRESSION?
    HES ALREADY.ZOOMED US PAST RECESSION W 3 MARKET CRASHES IN 10 DAYS. NOW THE MARKETS SELLING 6000,STOCKS A DAY. IS ANY ONE BUYING?

  24. WHAT the hell?
    If everyone rich WHY is there an IRS taking my money out of every PAY check? WHY?
    If the PEOPLE boycott this stupid s""" then the PEOPLE would be rich.
    Stop paying over and over again for the land that is your.
    Stop paying for car taxes over and over again.
    The rich people feeding off the working people.
    That right! Stand up!

  25. Watching from the Caribbean….this president dumbfounds me EVERY DAY OF THE WEEK. How David presented this with a straight face is beyond me!

  26. I wonder what it would take for David a say that he is wrong
    Employment is that at all time low. Must be a lie
    Black unemployment is a all time low. Must be lie
    More people are employed there ever before. Must be a lie
    Economy is doing good because people are buying things. Must be a lie
    Things are going in the right direction. Must be a lie
    Then David says when things go bad don't blame him for all his pessimism and goom and doom

  27. David, Walmart is one of the best equities that can be viewed as a proxy for consumer confidence. The average American frequents the retailer, and if their revenues are rising, then naturally people are spending more (sign of healthy economy). I think you interpreted the President’s comment as “A big corporation is doing well, so everyone is doing well,” which I do not believe is what he was saying. Either way, I do believe we will see a downturn within the next 18 months. Let me know your thoughts.

  28. No tax breaks for the struggling middle class, but the rich got richer. That would be the fossil fuel people and other big business!!!!!!!!!!!

  29. Why can't Americans see through this obviously sick minded moron..this idiot has the capacity to ruin the developed world…he makes America an embarrassment..just like Johnson does to the u.k.

  30. So that asshole and chief thinks that 99% of people in this country I'd swimming in money? Well I guess I'm part of the 1% who hasn't seen a penny of what that asshole is talking about. He is soo out of touch with the average American. Because I haven't seen no increase come to my pockets. And he's making it worse with those STUPID TARIFF'S HE ISSUED ACROSS THE INTIRE PLANET. Nuff Said!

  31. 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣

  32. Aha! ha! Reminds me of a lady from my town where most people are wealthy. She goes to me – Nino, how can someone not pay his bills on time. In this country you can’t get away with it.
    I told her – you are out of touch with reality. Your life is to comfortable to even bother to know how do most people live in this country.
    Rich snubs.
    But THE PARASITE in the White House isn’t a snub he is mentally disturbed and trying to get away with crimes.
    When will all this end?

  33. Oh yes a bargain store (Walmart) is booming !! Basically people are more broke than ever. Wtf oh yeah this is a great indication that our economy is just golden.

  34. Not only is he a blithering idiot when it comes to financial terms and knowledge, but he is pretty much an idiot when it comes to geography aswell… And foreign politics. And presidential decorum. And how to act when asked something he doesn't know. And what EXACTLY makes something "fake".
    In fact, there's only ONE thing this talking hand puppet is good at – and that is riling up his ever shrinking base.
    (I was going to write that he is good at pretending to be good at things, but that's not accurate. He basically SUCKS at pretending to be good at anything, we all see right through him).

  35. The President is a raving lunatic. There is not a thing that anyone can do about it. Get used to it. It's guaranteed that matters will never improve. Expect a long, gradual decline until the point of no return.

  36. Sad part is the trump troop just hear what he has to say and runs with it. THEY ACTUALLY BELIEVE HIM. It’s pretty darn scary!

  37. So because Walmart pulling huge profits off the backs of it's workers in poverty whom qualify for food stamps, housing, Medicaid etc we subsidize so they can scrape by means we can't have a recession?

  38. Yes we are doing so well that our government workers were in big trouble after just one missed paycheck. That tells you that most Americans are just threading water and if one check is missed, they are all in trouble. No matter how much go fund me is being used to try to save most of us.

  39. Seriously this man hasn’t a clue how the markets work does he. The only person who believes his trade war with China isn’t damaging the US economy is Trump.

    Trump hasn’t the first clue how the markets work. He thinks interest rates are the same as when you have a loan from a bank. Every time that this man opens his mouth he has a detrimental effect on the exchange. The way the markets are behaving at the moment there are certainly alarm bells ringing that is making certain people within the exchange very uneasy and uncomfortable because they can foresee what is going to happen.

  40. If trump's fuckups and character flaws become too hard for even republicans to deny, I'm sure the guy's gonna deny ever having been president.

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