Matt Yglesias on Trump's Bold Vision for America: Higher Prices!
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- Опубликовано: 27 сен 2024
- Donald Trump has made inflation a central part of his campaign message. At his rallies, he rails against “the Biden inflation tax” and “crooked Joe’s inflation nightmare,” and promises that in a second Trump term, “inflation will be in full retreat.”
But if you look at Trump’s actual policies, that wouldn’t be the case at all. Trump has a bold, ambitious agenda to make prices much, much higher. He’s proposing a 10 percent tariff on imported goods, and a 60 percent tariff on products from China. He wants to deport huge numbers of immigrants. And he’s made it clear that he’d like to replace the Federal Reserve chair with someone more willing to take orders from him. It’s almost unimaginable to me that you would run on this agenda at a time when Americans are so mad about high prices. But I don’t think people really know that’s what Trump is vowing to do.
So to drill into the weeds of Trump’s plans, I decided to call up an old friend. Matt Yglesias is a Bloomberg Opinion columnist and the author of the Slow Boring (www.slowboring...) newsletter, where he’s been writing a lot about Trump’s proposals. We also used to host a policy podcast together, “The Weeds.”
In this conversation, we discuss what would happen to the economy, especially in terms of inflation, if Trump actually did what he says he wants to do; what we can learn from how Trump managed the economy in his first term; and why more people aren’t sounding the alarm.
Mentioned:
“Trump’s new economic plan is terrible (www.slowboring...) ” by Matthew Yglesias
“Never mind: Wall Street titans shake off qualms and embrace Trump (www.politico.c...) ” by Sam Sutton
“How Far Trump Would Go (time.com/69720...) ” by Eric Cortellessa
Book Recommendations:
Take Back the Game (www.penguinran...) by Linda Flanagan
1177 B.C. (press.princeto...) by Eric H. Cline
The Rise of the G.I. Army, 1940-1941 (groveatlantic....) by Paul Dickson
Thoughts? Guest suggestions? Email us at ezrakleinshow@nytimes.com.
You can find transcripts (posted midday) and more episodes of “The Ezra Klein Show” at nytimes.com/ezra-klein-podcast (www.nytimes.co...) . Book recommendations from all our guests are listed at www.nytimes.co... (www.nytimes.co...) .
This episode of “The Ezra Klein Show” was produced by Rollin Hu. Fact-checking by Kate Sinclair and Mary Marge Locker. Mixing by Isaac Jones, with Aman Sahota. Our senior editor is Claire Gordon. The show’s production team also includes Annie Galvin, Elias Isquith and Kristin Lin. Original music by Isaac Jones. Audience strategy by Kristina Samulewski and Shannon Busta. The executive producer of New York Times Opinion Audio is Annie-Rose Strasser. Special thanks to Sonia Herrero, Adam Posen and Michael Strain.
Thanks for reminding me that you guys believe we are stupid.
Wow,you must think Bidens prices are okay.
This dude wants to get rid of incom tax and replace it with tariffs. Let that sink in. Nope.
@@stilllearning6958 It's a great idea if it will work !
@johncross5534 So, were you planning a trip to explore moving to N. Korea?
"BUTT mah Russia and putler tho!"
- ezra
@@stilllearning6958 The US government was funded by tariffs a century ago and it took a constitutional amendment to enable income taxes of 1%.
Within 50 years income taxes reached 90% until Reagan cut taxes in the 1980s
Trump 2024!!!!!!!!!!
You must have gotten your economic knowledge out a Crackerjack box.
I remember mean tweets and $2.00 a gallon gas under Trump. When can we get that back?
I’d like to think these people realize that they can’t pull a fast one over us anymore. We’re sick of your BS rhetoric and lies. Trump 2024 🇺🇸
@@commodoresixfour7478gas was under $2 because of the pandemic. Or didn't you know that
@@commodoresixfour7478Another pandemic will do it! 🤣😂🤣🤣
Trump wants to put a 10% tariff in Imports, so you can expect everything to cost drastically more.
Really? Because prices were significantly lower under Trump.
From the Obama economy... Then Trump destroyed everything.
Thank Obama
@@HTub-bo2yl lmao right
@@HTub-bo2ylwhat exactly did obama do? I want to be as educated as you are sir.
@@HTub-bo2ylWhen gas topped $5 a gallon Oduma said it's still relatively cheap if you look at the EU where it's 7 or 8 a litter gas prices & the economy will never ever again flourish as it did in the 90's due to globalization, that's a fact. Like it or not, that's just how it is. Oduma's arrogant cocky ass speaking with disdain for the American people 😡
Trump proved his Kenyan ass wrong
This is BS and lies.
TRUMP 2024
Ya buddy!
Heck yeah 👍🏻
Count me in too!!!!
Bring back Mean Tweets and $2 gas go Trump!
Jerry Springer trash.
This is fruitcake propaganda. Shame on u sir!
This show is just completely reminds me why we are where we are today as a nation.
Shana Gray didn’t even open her restaurant until August 2023. Maybe vet stories like that before they’re featured as true.
This is HILARIOUS!!!! If anyone believes this nonsense you’re lost.
Trump 2024
So according to this pundit, we should vote for Biden because Biden will keep prices and inflation down...lol
Over my dead body will I vote for crooked Biden.
😂
😂😂😂
Why does this guy sound so much like Hugo from Bobs Burgers without sounding like Sam Seder?
I will have to come back here in 5 or 6 years and respond again
Same ol propaganda! So tired of it!
You don't know what you're talking about we were better off 4 years ago then we are today president Trump will bring us back where we were and you can preach about him all you want but the American people know the truth they are tired of doing without while the rich gets richer and the poor gets poorer
This guy forgets that everyone made it hard for Trump to work.
And by your logic, what maga is doing to Biden is different, how?
@@stilllearning6958So 1 party can attack (for all 4 years) the other side and not expect retaliation?
Facts
Yes, including Democrat propaganda fake media like the New York Times
@easyon31 When a cult leader takes over all three pillars of our government, abso•fucking•lutely. I don't care if you're right, left, center, red, green, or blue, vegan, steak, or seafood eater. If you support the Constitution, you can NOT support Drumpf. They are at direct opposites to each other.
Nice try at bending reality there Libs!
You are talking BS. You should be ashamed of yourself.
TRUMP 2024🇺🇸🇺🇸🇺🇸🇺🇸
The Greatest President Ever!!!!
Tarrifs are not paid by the manufacturer or the Country they are manufacturered in. They are not paid by the exporter or the shipping company. They are ADDED to the cost the importer pays, included in the cost the wholesaler pays, included in the cost the retailer pays, and in the end, paid by the Consumer.
Tarrifs are nothing but a Federal Sales Tax.
Nope. You're falsely assuming that there is no domestic competition for the goods being tariffed. Most of the time their is domestic competition and this usually does cause the foreign businesses to lower their prices to compete in face of tariffs. Ergo, the whole tariff cost is almost never fully paid by the consumer. Also: you're missing the entire point of tariffs. --Geostrategy.
@@kreek22wrong... Foreign business won't lower their prices because even at a higher price point they are almost always still much cheaper than US like goods.
LIES, LIES AND MORE LIES.
Must be Opposite Day.
Nonsense
Of course you were in Park Slope, Brooklyn. That’s exactly where you would be. I live in Brooklyn too. The rest of blue collar Brooklyn is voting for Trump. Nobody talks about that in NYC.
Yep the firefighters and police are voting for Trump.
You're long-winded and lack depth.
This is propaganda.
Forget Everything else. How bout No Freakin Wars!!! Trump 2024🇺🇲
Amen
Remember Afghanistan?
CEOs want a bigger % of the pie. They don't care if the pie is smaller, they've got more than they could possibly spend anyway. It's about bragging rights and lording it over the proles.
Mr Klein needs to live our lower class
Under Trump Gas was 1.87
Under biden it's 3.59
NYT: REEEEEEEEEEEEEEE ORANGE MAN
Supply and demand made gas cheap. trumps mismanagement of the pandemic crashed this countrys economy. He closed the entire country down.People weren't driving to work anymore.They weren't driving anywhere anymore. But yea trump, low gas prices LO.L.
NO ONE WAS DRIVING
It's called a worldwide pandemic... Lockdown nobody was driving anywhere prices dropped.
Why was toilet paper and paper towels so expensive under Trump. Trump toilet paper 40.34, under Biden toilet paper 12.83.
@@jimmyjam5453 because Democrats illegally and nonsensically shut down the country, so it was hard to get toilet paper 😂
Up yours!
Deluded by TDS!!!
🤔🤦🏻♀️🤡🤡🤡🤡🤡
TRUMP 2024
Lol, only seconds into the podcast and I'm thinking, "Evidently Ezra Klein doesn't remember either". That inflation he's talking about was well underway by the end of the Trump presidency, because the pandemic was the start of it.
He knows he just assumes we don’t know. We know!
Higher than what I'm paying at the gas pump and for groceries now under Biden?
How much are you paying for your toilet paper now? You should be saving about $300 a month.
This is HILARIOUS!!
Comparing Biden’s term to Trump’s term….I’ll take Trump
Trump coasted 2 years off of Obama's economy.... Then failed.
So Sir you think that giving money to illegals and Ukrainian and paying off Students debts are better....
You're not gonna stop him from ordering from Temu on pennies.
New York Times, LOL! That's all we need to know.
Trump got opposition from even within his own party. If he wouldnt been treatly even remotely fairly or supportive wed be way better off today. I wish the NY Times didnt destroy their reputation like they did trying to be never trumpers. Just like i wish biden succeeded(he didnt, hes a disaster) i too want trump to succeed. It affects all of us
Trum2024
We were trying to warn you of his ultimate outcome. He has always been a criminal and will always be a criminal.
Trump got opposition because he was committing crimes.
Don't you want Biden to succeed?
@@DonaldJohn-dh7xx hell yeah I do. I said that in my comment, sadly he was not the right man for the job and has been a disaster. He's the pilot of the plane we're forced to fly on. I'll never forget when Bill Maher and other Democrats wanted a recession under trump because they hated him so much(Google it if you don't believe me). That's the level of absolute trash that guy got for his entire term. I didn't even vote for him the first time I've been a Democrat since Obama's first term but I still wanted him to do good. Turns out he was a pretty damn good president. Democrats lost their way and are doing some really strange stuff like trying to remove someone from a ballot and trying to jail their opponent all while screaming from the rooftop that person is the threat to democracy. They lost me and I won't be looking back for a while. I think if most people got out of their feelings and voted with some logic they wouldn't even consider Biden. His history alone and voting record made me almost smack my head in 2020 like why in the hell did the Dems put this guy up, he is and always been just a bad guy
Why would you say something so ignorant 4 years ago when he talked about the tariffs and yet to no avail. Why can't you people just tell the truth? Have you no conscience?
What people dont remember?
Of course, he already governed and prices were lower. Nice try.
“The party told you to reject the evidence of your eyes and ears. It was their final, most essential command...”
Sorry. Had cheaper prices under President Trump. Biden extreme prices kicked in on day one.
Ezra you see such a cult member.
We want real accountability. Call it revenge if you're guilty.
Your glasses are bigger than your brai 😂🇺🇸🇺🇸🇺🇸
at least 100 times😂
Biden brings record inflation, doubles home prices and the New York times presents this headline 🤣 These people are gone
If home values doubled that means the net worth of Americans went up..🇺🇲🇺🇲🇺🇲
@@jimmyjam5453 oops, property taxes would like a word lol
That just means people who were looking to become home owners can't, Biden has turned young people into permanent renter's.@@jimmyjam5453
@@jimmyjam5453Unless you don't own a house but are looking to buy one which will never happen in the economy.😂😂😂
COMPLETELY CRAPOLLA
Who's this guy he hasn't gotten one thing right yet
Ezra for a stay in a mental institution!
But I thought the president doesn't control the prices? 🤔🤔🤔🤔
The President does not control prices. However he and his party can create a mood and increase cost through changes in regulation, etc..
@@WmJames-rx8go So biden is to blame for our current shit show
Fake news
IGNORANT
"Elite opinion leaders and policymakers must stop demonizing all critics of open-borders immigration policies as racists and xenophobes. They must face the fact that, in many cases, businesses do in fact favor immigrants over native-born Americans, especially blacks, based on differences in worker quality, whether actual or perceived. They should consider whether unrestricted immigration has contributed to making native-born workers less competitive."
"Opinion leaders should also abandon the demoralizing and ill-conceived mentality that regards most young people as potentially college-ready, treats lack of higher education as an unfortunate failure requiring societal correction, and sees joining the cognitive elite as the ultimate hallmark of a decent and worthy life. The country’s education policies should therefore emphasize job preparedness and vocational training. Germany, Holland, and northern European countries provide worthy models, with the majority of high school graduates enrolled in job-linked programs."
"Relatedly, a renewed cultural emphasis on recognizing the dignity of work of any and all kinds, whether career-oriented or not, with a moratorium on talk of “dead-end jobs,” would be desirable. Male idleness should be re-stigmatized, and the expectation that all able-bodied men as well as women will contribute to self-support should be given renewed emphasis. It is also important to stress that the government is not and cannot be the guarantor of “good jobs.” Rather, such jobs are mostly the product of private enterprise, which depends on workers equipped, ready, and able to provide the goods and services that people actually desire."
"The leadership class should furthermore rethink its uncritical invocation of the category of “jobs Americans won’t do.” Workers with limited education and few skills should be urged and expected to take the jobs that are actually available and that immigrants are currently performing, especially as part of the quid pro quo for lower and slower rates of immigration that many ordinary Americans would welcome. That tack depends on accepting the inconvenient fact that too many Americans-including an increasing number of high school graduates-are not presently equipped, whether due to paucity of skills, poor work habits, drug use or addiction, or other causes, for many of the more lucrative jobs available in the economy. Indeed, for many of the same reasons, they are barely able to meet the basic requirements for any job. Finally, opinion leaders should stop looking askance at “America First.” Indeed, they should embrace it. The well-being of Americans outside the college-educated class should be placed front and center and our national priorities reordered to turn our full attention to our fellow citizens from all races and backgrounds. In the name of reintegrating this population, we should turn away from replacing them. Rather, we should seek to understand and support restrictions on, and restructuring of, immigration laws to honor citizens’ economic well-being as well as their legitimate interest in familiar communities and cultural stability."
"Low-Skill Immigration: A Case for Restriction" by Amy Wax
American Affairs Journal Vol.I No.4 (Winter 2017)
americanaffairsjournal.org/2017/11/low-skill-immigration-case-restriction
Bravo!
Familiar communities... that's straight up facism
Thanks you hamester team
The first sentence he spoke sounded like bs....I'm out. God bless this guy in the name of Jesus Christ.
Isnt that what we currently have or have had for 4 years?😂
A letter signed by 16 top economists, reminds me of the letter signed by 51 intelligence officers. This administration is a joke.
prison planet america.
You sound insane 😅😅😅😂😂😂😂
Interest rates will rise. We are not even close.
Lies
Why doesn’t the media explain the lag effect between injecting money into the economy and the resultant inflation 12-16 months after? Trump signed every spending bill set before him without any hesitation, and therefore shoulders the blame for a huge share of our inflation woes.
Excellent observation. Wake Up America!!!
@@ronaldakins5338 they might also mention what a crap negotiator Trump really was. Take any example, except for USMC, and you will find that the deal eventually blew up. Hong Kong for soy beans (China never honored the deal because of Covid), Abraham accords (excluding the Palestinians), letting Russia stay in Syria (Assad ceded land and now they’re training Syrians to fight in Ukraine) , letting Putin stay in Crimea (we all know how that went), Afghanistan (he excluded Kabul from the Doha negotiations and we all know how that went), etc.
Trump is the anti conservative. He spends and spends and then cuts taxes and cuts taxes. It's Reagan but worse. Supercharged economy now, horrible consequences later.
The National Debt increased by just under $8 Trillion during Trump's 4 years in the White House, he holds the all-time record.
I agree but he was also very early in covid and it seems reasonable that he would spend a lot early in to avoid economic catastrophy while Biden was and is spending trillions per year into an overheated economy into non productive sectors and that just increases price's. The federal government limits supply and significantly subsidizes demand in education, healthcare and housing thus the only outcome possible is for price increases.
Trump2024 MAGA
Its funny how obsessively this podcast advocates for buying cheap Chinese goods under the guise of "tariffs will raise prices"
And how immigration reduces workers wages, costal elite being hypocrites
This comment section gives me hope.
Say no to creepy joe and heels up harris
😂😂😂 fake news
Ou please! we heard this before from Robert Reich who initiated policies that lead to China entering WTO in 2001 and became a world top trading power. At the same time, millions of working class Americans lost their job, unable to adapt, pushed to civilizational crisis and, if I borrow from Karl Marx, “lumpenization”, 21st century version. Many social problems in the country today stems from those decisions.
Listened to about 30 seconds, then went to the comments. I’ll trust the consensus and say Ezra must be doing his version of a KJP impersonation. IOW… this piece must be propagandized 🐂💩 unsupported by hard facts. FJB
You should probably listen to the whole thing and form your own opinion?
I don’t fw Biden or Trump… because both of them are not great choices. And I don’t blindly follow anything.
KJP impersonation 😂 ❤👍 all he's missing is the hair. Can't tell whether he's batting his eyes or not.
Mortgage rates during president Reagan’s eight years in office were in the double digits.
True, but a modest new home on Honolulu was 34,600$. In Alabama, within 150 miles of Atlanta 3br,1.5 bath was 12,599$.
Obama's, not Trump's policy caused Interest rates slowly down to 2.75 to 3.7 percent allowing home prices to rise 8 to 11 percent per year.
Ronald Reagan subsidized serial killers
those skyhigh rates originated under nixon who strongarmed his fed chair arthur burns not to raise interest rates until after the 1972 election to assure his win. the stagflation grabbed hold during carter's tenure and the repubs looooove to remind everyone what a lousy president he was on account of it but he was more of a repub hit and run victim. william greider wrote about this in his book, "secrets of the temple."
That was true, but Republicans edited that history, deleting that part, so it isn't true anymore.
That's not necessarily a bad thing, because it does put a tight clamp on house prices.
25:37 - When all prices rise, that is textbook inflation. When only some prices rise that is profit taking
Wrong.
The price of toilet paper is much cheaper. The price of batteries are much cheaper.
We thank Hamster and its staff for supporting us❤❤❤
This headline is a load of BS🤣
i couldnt get past that part either😂
This is even more hysterical when you actually listen to it...come out of unicorn land jo's people. Now I can see why a commenter said something.
BS
Nobody believes what you say
Stop all your lies abour trump
Are you insane?
Trump 2024
Are we better off now than we were 4 years ago? If you have any tendency to say no, grow up.
Yeah, we're better at paying high interest rates ... the banks are extremely happy.
I read the comments. Does anybody like this guy? What a joke don’t quit your day job that’s for sure. lol
For the first time ever the US Treasury took a record $4 TRILLION +
liar
This conversation, 2 intelligent guys speaking nonchalantly about the fact a woefully corrupt felon who's also been convicted of sexual assault still being the avatar of the Republican party and attempting to outline just how terrible his economic policy would be during a second term, makes me realize how ineffective listening to The Weeds during Trump's presidency truly was. We needed intelligent leaders shaking people out of the stupor and leading them into the streets to protest the oncoming fascism. Instead, we got bloodless analysis that made us smarter but somehow led to inaction. Great conversation, as always. If only it mattered...
The problem is you can't shake less intelligent people on the dangers of fascism because they haven't lived through it. They have no historical context because they don't know the details of history. Honestly it's a problem that's been magnified by social media misinformation. We have 3 states we must win. PA, WI, MI. My question is what are you going to do to help US win these states? I'm phone banking for Biden in PA. We can either fall victim to nihilism or we continue to fight....the ball is in your court....
The fascism comes from democrats… trump was FAR better
Blah blah blah TRUMP 2024❤
Thanks for the laughs, poofter.
Don't we really just need more immigration judges/lawyers to process many (not all but alot) of them in weeks not years. Im sure when they get back home they'll tell everyone what's up now.
They just hire anyone these days
TDS🤠🍿
Now I've seen it all. NYT Podcast. All the lies that are fit to broadcast.
😂😂😂... remember when they said Trump was going to start wars. All this bad stuff and who is doing it. Not Trump so not sure how they can even say this...I guess my question is what they think whats going in now.
Pretending like Biden isn’t the problem is hilarious.
He's not the problem. Fox News and other stupid people are the problem.
Trump 2072!
When does Build Back Better start? Did Joe ever get the building permits?
BBB is doing great.. check your 401K, it reflects all the great things that are taking place.
If they do it is leftover crime grime frm Jo. If anything it will go up less than it would have. It is hard to work with only the bare bones that are left. Like Birnie's item of the day, home loans on the equity too. At least taxpayers would get a bit of relief by not having to pay principal on home loans. Looks like genius has taken care of that too. I guess you and Bloomberg just love paying for Jo. Oh I forgot, it is us the working poor that do. Those of us that all this idiocy put us out of the housing market. Nothing but a pack of idiots in unicorn land. So long.
No matter what he is still president trump, just as clinton is president,didn’t mommy teach you anything