3/14/25: Economic panic as Republicans are out of ideas

The David Pakman Show

David Pakman

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4.6 • 2.8K Ratings

🗓️ 13 March 2025

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

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Summary

-- On the Show:

-- MAGA and Donald Trump are terrified as consumer panic is rising as consumer spending declines precipitously

-- CSPAN caller is in tears over what is happening to the economy

-- Republican Senator Mitch McConnell turns on Donald Trump's tariffs, much too late to make any difference

-- Donald Trump is creating a recession out of thin air, a rarity in the history of recessions

-- Europe is specifically targeting red states with its retaliatory tariffs

-- Right wingers melt down because a contestant on the reality show Love is Blind rejected her fiancé over his political views

-- The real reasons that Trump an MAGA cannot accept basic facts

-- This week's Friday Feedback

-- On the Bonus Show: The Friday Bonus Show with Producer Pat

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Transcript

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0:00.0	Panic is growing amongst the average American, both rich and poor, interestingly enough,
0:14.2	about the economy, different situations, different levels of risk, of course.
0:19.5	But if you are in a situation where you either feel
0:22.6	like your wallet is getting thinner or that it's going to or you're worried and you're
0:28.3	starting to adjust spending habits, you are very much not alone. This is what is happening
0:34.1	in the economy of the United States today. We are not in a recession. Recessions have
0:39.3	specific definitions. We have not. We're not even close to reaching that yet because it requires
0:44.7	GDP numbers and we don't even have GDP numbers from Q4 yet or do we? We certainly, we're not
0:49.8	going to have Q1 numbers. No, I think Q4 GDP comes out soon. We're not going to have Q1 numbers for
0:55.1	some time. So we are not in a recession. But there is a decline in consumer confidence. Consumer
1:00.3	spending has collapsed across all income levels. And Donald Trump is not even denying that his policies
1:09.0	might tank the economy.
1:11.3	He says it'll be for the greater good.
1:13.7	His advisors say it will be only a transition.
1:16.2	Peter Navarro said it's sometimes the pain you have to endure to go from failing Bidenomics
1:21.3	to successful Trump nomics or Trumponomics or whatever.
1:25.2	So let's look at what we know what's true and what is sort of like a maybe.
1:29.1	It is true that Americans are cutting back on everything.
1:33.4	Americans are being more careful on groceries, gas, and fast food.
1:37.7	Wealthier individuals are being careful with luxury goods because people either don't have the money or are worried that they soon will
1:47.9	not. We saw consumer spending drop by the largest single month margin between January and February.
1:55.4	Big box retailers, Walmart, Costco, Target, have seen customers tighten spending, average ticket values
	...

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