Trump Fails to Stem MAGA Fury Over Epstein

18 Jul 2025 · 41 min · 18 chapters

Ask about this episode

Ask anything about it. ChatGPT or Claude reads this page and answers with the times it was said.

Connect VO and ask about every podcast you hear, including the moments you saved. Add to ChatGPT · Add to Claude

In short

The episode mixes culture and politics. It opens with Nicole Wallace praising Jimmy Jam’s view of music’s healing power and “safe” collaboration, using his stories from working with Prince and Janet/Michael Jackson. It then pivots to news: the host argues Trump is failing to quell MAGA fury over the Epstein case.

Key claims

Trump and House Republicans are deflecting responsibility to Attorney General Pam Bondi; DOJ is seeking Supreme Court review of Ghislaine Maxwell’s appeal; Fox and influencers are shifting to other conspiracies, but the Epstein story “sticks.”

Notable examples

Lara Trump’s “more will be revealed” messaging; Trump’s past vow to declassify Epstein files; references to “Epstein Island” jokes and “broken vows.” A panel (Maya Wiley, former SDNY civil prosecutor; Molly Jong-Fast, Vanity Fair/MSNBC) discusses how base supporters manage cognitive dissonance and whether transparency will change minds. The episode also covers tariffs raising grocery prices, featuring economist Justin Wolfers, and ends with Stephen Colbert criticizing Paramount’s alleged “bribe” over a 60 Minutes settlement.

Guests

Jimmy Jam (via discussion), Maya Wiley, Molly Jong-Fast, Justin Wolfers, Stephen Colbert (commentary), Wu-Tang’s U-God, and MSNBC analyst Jason Johnson.

Written by AI. May contain mistakes. Listen to the episode to check what was said.

Chapters

Tap a time to open that second in VO

Exploring Jimmy Jam's Influence

1:19 to 2:45

Insights into the impact of music and Jimmy Jam's career.

“Well, so I sent it to you because I feel like I sit there on the big nights and I'm just in awe and I mostly try to not get called on when you go into these spaces with all your expertise about music.”

MAGA's Fury Over Epstein

2:45 to 10:20

Discussion on Trump's struggle with his base regarding Epstein.

“And thanks for letting me talk about it.”

Discussion with Maya Wiley and Molly Jong-Fast

13:00 to 14:00

Insights from guests on Trump's grip on his base amid controversy.

“The sound you hear is a Trump criticizing Trump in public.”

Trump's Promises and the Deep State

14:00 to 17:00

Explore how Trump's past promises about transparency clash with current realities.

“So you see the way she's dealing with this story, saying more will be revealed.”

Cognitive Dissonance Among Trump Supporters

17:00 to 18:34

Discuss the psychological conflict Trump supporters face regarding his character versus their beliefs.

“Listen, we don't want to do the thing of taking millions of people and saying they all have the same motivation.”

Accountability in Politics

18:34 to 21:44

Analyze the necessity of accountability in government and its implications for democracy.

“And she continues, quote, now they have to figure out why Trump won't give them the information they long for.”

The Stakes of Transparency

21:44 to 22:21

Understand the implications of political transparency and citizen engagement in democracy.

“He usually has a sort of incredible ability to see what his base wants and deliver it.”

Economic Impact of Trump's Trade War

24:28 to 27:55

Examine the effects of Trump's tariffs on consumer prices and the economy.

“I mentioned that in our lead with Nicole Wallace.”

Understanding the Impact of Tariffs

28:00 to 29:39

Learn how tariffs affect prices and the economy over time.

“A lot of talk about Taco Trump, saying that he always chickens out.”

Trump's Economic Policies and Market Reactions

29:40 to 31:34

Explore the consequences of Trump's tariffs and Wall Street's perceptions.

“Well, sequels are controversial for that reason, as you may know, in general.”
Show all 18 chapters

Humor and Economics: A Light-Hearted Discussion

31:35 to 33:39

Engage with a humorous exchange about economics and cultural references.

“And in fact, if you look at other policy domains like immigration, he seems to be doubling down, if anything.”

Introduction to Stephen Colbert's Controversy

33:40 to 34:10

Learn about Colbert's criticism of his employer regarding political influences.

“I want to apologize to everyone on behalf of myself and Justin, professor.”

The Seriousness Behind Colbert's Humor

34:11 to 37:30

Discover Colbert's take on corporate influence and journalism integrity.

“Critics say President Trump's abuse of government power to influence or censor the press, including his critics, amounts to a kind of extortion out in the open.”

Previewing Upcoming Guests and Topics

37:31 to 38:41

Get ready for an exciting discussion with Wu-Tang Clan members and insights.

“We just heard from RZA about that, and we're excited to have more Wu members here.”

Current Issues in Politics and Culture

38:42 to 42:06

Examine the generational gap in politics and superhero culture debates.

“Also fills in right here on the beat and we appreciate him every time doing his journalistic, professorial, classy best.”

Discussion on Superman and Artistic Freedom

42:06 to 43:42

Exploration of how artistic expressions are perceived and the nature of storytelling across generations.

“Now, some things are about respect and rights, and I don't just call that PC.”

Views on New York City

43:42 to 44:38

Reflections on the changing dynamics of New York City and its cultural evolution.

“Oh, man, these people, humans, humans are getting on my nerves.”

Wu-Tang Tour and Future Projects

44:38 to 45:14

Details about the Wu-Tang Tour and upcoming projects within the hip-hop community.

“We're trying to get to the East Coast right now.”
Hear the part that matters, and keep it.Open this episode in VO. Double tap your headphones to save a moment as you listen.
Get VO free

Transcript

Automatic transcript. May contain errors.

0:00Anybody can make jeans, but you can't dupe True Religions. That famous fit? Pockets you recognize instantly, stand out stitching. They try to get the full package, but only we have the legacy. Shop the iconography capsule now at True Religion. How do you want to split it? Actually, dinner's on me. Okay, big money. Well, I got a Venmo balance that I can spend with my Venmo debit MasterCard, so. Well, I Venmo'd you three times last week, so it's kinda on me, actually. Yeah, you send it, I spend it. Did my money get, like, reincarnated? Yeah, it was chicken shawarma. Want it back? I can't believe you, like, ate my Venmo.

0:36Spend your balance instantly with the Venmo debit card. No monthly fee or minimum balance. Venmo balance account required to get a card and use a balance. The Venmo MasterCard is issued by the Bancorp Bank N.A. Hi, Nicole. I want to hold you over, and I'll tell everyone we're going into the news tonight. Epstein fallout. I got all that stuff going on. There's always a lot going on, but I've been listening to your podcast. you had Jimmy Jam on and you had this great convo, both. I loved hearing his thoughts about working with Prince, everything he's done, but also hearing another side of you, honestly, because you were talking about how music transports you to a room and just what you want to learn from him, how cool you think he is as a person.

1:14Tell us about that because we put some of this up to plug it because I really enjoyed the convo. Well, so I sent it to you because I feel like I sit there on the big nights and I'm just in awe and I mostly try to not get called on when you go into these spaces with all your expertise about music. But Jimmy Jam is someone that I felt like I had a winning lottery ticket when a mutual friend gave me his number and suggested I call him. You were always supportive of this effort too. I was trying to raise money for Ukraine and we put on an hour of music. And the first time I talked to Jimmy Jam, I remember where I was sitting.

1:51It was one of those conversations that just imprints on your brain, he started talking about the power of music. And it was sort of coming out of COVID, going into the war in Ukraine, there was so much suffering at home. There were so many places that art and music could sort of turn its healing powers. But Jimmy Jam didn't look at it as we could do this or that. It was about sort of the magic of art and music to bring us together and lift us up. And he's so cool that it didn't sound as cheesy as I just made it sound, which is why I have to listen to the whole podcast. He's just the real deal.

2:26And then, you know, oh, by the way, he's the person that everyone calls when they want to make, you know, some of their best and most iconic records and music. And he has stories like the one I just played of Janet Jackson and Michael Jackson that you just sit there with your, you know, you depict your job off the desk because he's just amazing. So thank you for listening to it. And thanks for letting me talk about it. And I'll jump in a sec, but what What did you think of the way he described competitive creativity? Because you've come out of politics. What's more competitive than than jostling inside a White House in journalism?

2:59We deal with that. And it was so interesting to hear here that way. You two discussed that. Well, what I love was his story about how Janet, you know, kind of got out of it. You know, so she said, oh, you know, I need to rest my voice. And she got herself into a space where she felt like she could be and do her best. And so what I thought, you know, I'm always looking at true artists and creatives to see if there's anything I can pull into my own life and try to apply. And what's amazing and what Jimmy is to Janet is this safe, beautiful partner and collaborator. And I think it just it speaks to where we do our best work, I think, is when we're all together.

3:41And it's that same thesis, right? You create a safe space and everyone feels confident enough to be their most honest, to sort of cut to the bone of the truth. And if there's any sort of tortured parallel between what he creates, which is beautiful, and what we do, which is not always beautiful, it's that the truth, the truth sort of undergirds all of it. That makes a lot of sense. I had it in my earphones. I know your voice. I would say decently well, like a lot of MSNBC viewers. So I have your voice. I have his voice. I was going about my day listening to that. Enjoyed it. Thank you so much for listening.

4:13Thank you. Of course. Thanks, Nicole Wallace. We have it up on the screen. You can check out the best people now. Turning to the news, we begin with the ongoing MAGA meltdown. And Donald Trump truly having the problem with his base that some said he would never have over anything. Well, here it is. And Trump is failing, flailing and failing, really, to quiet the Epstein story. MAGA, pundits, influencers, Fox, veterans, people with large followings are revolting. They are not going along with Trump's demands that something he and his allies pumped and fed forever should suddenly go away because it's inconvenient for them.

4:47Now both Trump and Mike Johnson are throwing this hot potato, though, and trying to get it back on the desk of the attorney general. It's going to be up to her. Whatever she thinks is credible, she should release. I'm for transparency. We should put everything out there and let the people decide. She needs to come forward and explain that to everybody. You can see the talking point forming as if this is all only up to an attorney general. And she did stoke interest in this. But Donald Trump himself long claimed that he would release this. And given the other controversial ways he's reached into the DOJ to get things done, obviously he could order more evidence out right now.

5:26He's not doing that. He's blaming his own employee. She now has been forced to speak out. Today, our memo speaks for itself, and we'll get back to you on anything else. We'll get back to you. That may not do it for the MAGA fury. House Republicans, meanwhile, have been dragged into looking like they're defending the lack of transparency because Democrats did jump on this issue and push forward an idea where Congress would try to get involved in having more released, and Republicans blocked that. the amendment is not agreed to. And I think most of us believe what's appropriate will be released when it is time for the president to release it.

6:09You'll notice even the Republicans in Congress are aware it's up to President Trump to make this call, not just his AG. But his AG is overseeing this effort, which is poorly timed, at least for the Fuhrer facing the White House, because this is, of course, one of the key co-conspirators, Jeffrey Epstein confidant, Ghislaine Maxwell She's already been convicted, she's in prison But the DOJ is trying to get the Supreme Court To reject hearing an appeal of her case Which of course could involve other information or disclosures So again, the DOJ, while it's common for them to defend their convictions And not want another layer of review This also runs right into Trump's big problem The MAGA anger is only getting louder We're all on stage demanding the release of the Epstein-Clinalist.

6:58Either Pam Bondi is royally screwed up. I mean, she's deaf. She has. That's not in dispute. She's royally screwed up. And the president is just forgiving her. Pam Bondi needs to go at a minimum. It is Trump. It is his advisers that have gone with this narrative of them just saying, forget about it. Move along. She's lying either way. This is the number one motivating issue for the base. There is something there. And it's being covered up. And the president blessed it. If that base feels like you're betraying them or not telling them the truth, then they're not going to like that. We are not falling to Jedi mind tricks and gaslighting.

7:37That's just a sampling of a heck of a lot of people who've suddenly decided that while they've long supported Donald Trump and defended almost everything he's said and done in public, suddenly now they're concerned that Donald Trump is lying. They don't like that the government doesn't seem accountable, and they certainly don't appreciate and aren't responding to Trump telling them to just be quiet. Now, that is part of where this anger is going. We're also seeing how bothered Trump is because we've talked before about his approach to PR and reaching out online and digitally because the world of politics has continued to change as the world's communication structure changes.

8:12Well, there's reports that he personally reached out to Charlie Kirk trying to quiet the criticism. Now this podcaster says he's done talking about Epstein because of the call. Honestly, I'm done talking about Epstein for the time being. As conservative influencers, we're eating their own about Epstein. Even though there are unanswered questions about Epstein, it is, in fact, time to move on. I'm going to trust my friends in the government to do what needs to be done, solve it, balls in their hands. Just trust the government, even when they tell you the conspiracy theory that they were long going to crack and solve, is now something they're just going to defend and tell you to look the other way on.

8:57So you can see just somehow this is playing out in real time. As for the quieting of the story, Fox News is changing gears. You can see the comparison here playing up outdated old sort of Biden references rather than the current Epstein controversy or the new Trump DOJ memo. And the larger culture, the story has stuck. Take a look. You can't take this away from your base. That is MAGA's favorite conspiracy. What are we going to find out next that immigrants aren't eating cats? Trump brings up Hunter Biden's laptop as a reminder for all of us not to dwell on old conspiracy theories. Also, are we really to believe anyone in the world could have the Epstein file on their desk and not immediately take a peek?

9:45I mean, who has that kind of restraint? Here's the list of everyone who went to Epstein Island. Well, sadly, it's 5 p.m. So. The jokes land because everyone's heard about this. The hypocrisy sticks because even your favorite MAGA friend or uncle or old colleague who's pure MAGA has heard what I just mentioned. There is the view of the broken vow. We can play it for you coming up tonight. Donald Trump saying he would do exactly the opposite of what he's now doing. There's the concern that he's lying, which we've seen on many issues. But on this one, MAGA seems to care. And there's the larger question of what happens if you pop the bubble and realize there is an external reality and that there are broken vows and that the government, even if you are very conservative and like some other parts of this administration's agenda, the government is to be held to account in this country.

10:36for we are a democracy with accountability, a nation of laws and a free press. Shout out to all the podcasters speaking their mind under the protection and power of the First Amendment, something this administration has also challenged when it finds disagreement. So is there a larger breakthrough here? We have Maya Wiley and Molly Jong-Fast with us on this big story when we're back in 90 seconds. Most ice cream is good, but not Jenny's. Jenny's ice cream is more like an obsession. What you get from over two decades of tasting and tweaking and throwing it out and starting over, chasing flavors until they feel alive.

11:17That might sound crazy, and that's because it is. Jenny's. Often imitated, never duplicated, always splendid. How do you want to split it? Actually, dinner's on me. Okay, big money. Well, I got a Venmo balance that I can spend with my Venmo debit MasterCard, so. Well, I Venmo'd you three times last week, so it's kind of on me, actually. Yeah, you send it, I spend it. Did my money get, like, reincarnated? Yeah, it was chicken shawarma. Want it back? I can't believe you, like, ate my Venmo. Spend your balance instantly with the Venmo debit card. No monthly fee or minimum balance. Venmo balance account required to get a card and use a balance.

11:53The Venmo MasterCard is issued by the Bancorp Bank N.A. Normally in these ads, you'd expect someone like me to ask you to buy something. But I want to ask you to do something different. I'm Dave Farenthold, and I'm a reporter for The New York Times. I'm an investigative reporter, which means that I follow the money, inside of government and outside of government. The point of my job is to find things people are trying to hide. It involves talking to lots of people. It involves looking through lots and lots of documents. And if there weren't folks like me to go beyond the surface to understand who was really shaping what the government does, the public will be left in the dark about what the government's doing with your tax money, what the government's doing to you through regulations and spending.

12:30If you're like me and you think this kind of journalism is important, seek out a news source that does firsthand, fact-based reporting. If that's the New York Times, thank you. If that's your local paper, that's great too. Because where you get your information matters.

12:52There needs to be more transparency on this. And I think that that will happen. I believe that there will probably be more coming on this. The sound you hear is a Trump criticizing Trump in public. That is Donald Trump's daughter-in-law, of course, has her own career and is a media voice. And she is saying this cannot hold. Rarely do you see the Jeffrey Epstein story and Donald Trump and Chinoe Achebe combined. But sometimes things do fall apart and may need to be put back together. With that in mind, we come to our wise panel, Maya Wiley, who's softly shaking her head, former SDNY civil prosecutor, a human rights civil rights leader.

13:34Molly Jong-Fast from Vanity Fair, MSNBC contributor. Her new piece is Trump loses his grip on the base over this story. Molly, why and why does it matter even for people who are less fixated on this old case? So I think it's interesting that clip you just played about Lara Trump because Lara Trump, there's a lot of talk that she wants to run for the Senate in North Carolina. Remember, Donald Trump isn't running for reelection yet, but Lara Trump is. So you see the way she's dealing with this story, saying more will be revealed. You know, we would there'll definitely be more. And what we see is this is her way of trying to spin this.

14:12I mean, look, I would say it's this. Trump said, you know, if you elect me, I will bring down the deep state. Right. That was there was a lot of the MAGA universe kept saying, you know, we will we will show all of the mysteries that the deep state is hiding from you. Remember, it's going to put out the JFK, you know, the JFK assassination. So there was a lot of buildup to sort of. And now they are the deep state. Right. They are in control of all of the levers. They caught the car. They criticized the man, quote unquote, and they are the man. Right. And now they're saying there's nothing to see here.

14:50It's very hard for me to see how the baselets go of this when they have worked so hard to stoke these very same things now that they're saying they should forget about. Yeah. And Maya, just to remind folks, I'm going to show some of the times Trump made these type of vows last year. Would you declassify the Epstein files? Yeah. Yeah, I would. All right. I guess I would. I think that less so because, you know, you don't know. You don't want to affect people's lives if it's phony stuff in there because there's a lot of phony stuff with that whole world. But I think I would. So if you're able to, you'll be.

15:26I'd certainly take a look at it. I'd be inclined to do the Epstein. I'd have no problem with it. Well, look, we have a current sitting president who ran on conspiracy theories, appointed people who spent all their time creating and stoking conspiracy theories, including Cash Patel, including Bondi, including lying about the 2020 election. And now their conspiracy theories are coming home to roost. They're paying the price for lying to folks, for making claims for Donald Trump. I think what we saw him doing there, we saw him do throughout the election cycle, which says, I will tell you what I think you want to hear.

16:08I will not stop lying. I will not stop saying whatever serves my viewpoints. And then I will shift if it benefits me to shift. And look, this is the non-transparency administration. This is the administration says, don't believe your lying eyes. And we're not going to actually tell you the truth. We're pulling data off our websites. We're actually making sure we can spin whatever story we want and never be accountable to you. By the way, we will flood the zone with federal agents, ICE. We will put them in masks and we will have them refuse to even identify who they are. But no, we're the Transparency Administration.

16:48We're going to get the deep state. No, Molly is right. This is the deep state. They've shown it in so many ways. And their refusal to be transparent is exactly what is coming home to roost. Yeah. And there's a psychology to this. Listen, we don't want to do the thing of taking millions of people and saying they all have the same motivation. But political scientists study this. Paranoid style in American politics, free Internet emphasis on the political potency of conspiracy theories, particularly when they dovetail with a wider kind of extreme, rabid or messianic view of things. The problem for a lot of Trump followers is they've had to spend a lot of time minimizing everything from him saying on tape that he would grab people without consent.

17:31to other allegations that you can debate because they were litigated, but were not easy to swallow when you look at how much evidence there was. How do you square that? And I want to read from a New York Times essay by Michelle Goldberg, brand new. And she notes that the fantasy of Trump for them as this warrior against sex trafficking, which is part of the deep state idea that you guys mentioned, is a way for followers to manage cognitive dissonance about his personal degeneracy, is how Michelle Goldberg puts it, to believe that they are on the side of light. While championing a man of such low character, Trump's acolytes have had to conjure an enemy of vast, titanic evil.

18:11This is the conspiracy that goes beyond, of course, Epstein's proven horrors, but the idea that there's entire governments and secret cabals behind it. She continues, quote, among those on the right who believe there's an Epstein cover-up, few seem to be entertaining the idea that Trump is protecting himself. That would require a reevaluation of his integrity and their own judgment. But they still take for granted that Epstein was trafficking girls to powerful men and then blackmailing those men, that he was killed so he couldn't talk. That hasn't been proven. There's just questions about that.

18:44And she continues, quote, now they have to figure out why Trump won't give them the information they long for. Maya? Well, 26 women, 26 women who had credible claims against Donald Trump. I say that because this will be the big test is will this translate into if we are actually concerned about what is in whatever information exists? What will they say about Donald Trump or will they only stick to Kash Patel or Pam Bondi or whoever the the the people are who are at the front of the administration calling for her resignation as if by replacing her, someone who Donald Trump put in place because of her willingness to do as she was told by Donald Trump.

19:41Replacing her does not suggest that they will get something different necessarily because the buck will stop with Donald Trump. That's bad for democracy. That's bad for transparency. That's bad for everyone. And by the way, you're speaking to something we see in politics. I'm not making a false equivalency, but there are people who are hardcore New Jersey Democrats. And when they first heard bad things about Bob Menendez, they said, well, they didn't want to believe it. We had a process. We had evidence. He was convicted by a jury of his peers. and then was punished for it. And eventually, reality has to take hold.

20:12Do you have any sliver of hope that at least for some people, this process might open their eyes back up to the things we've all been talking about, that democracy has to have truth as a baseline, whether that's because you want a higher immigration or lower immigration, we need a factual democracy community. We need a fact-based democracy because you can't make decisions without facts. the only way we get to where we think we can be as a country, which is one based on truth, facts and transparency of government and its accountability to us, is if we do that. We are not going to get that from Donald Trump.

20:47We are not going to get that just from influencers. There are more bots on the Internet than humans. We have to start back with this very basic point. If we allow anybody in public office to not be accountable to us, we will not have a democracy. But we are the ones who have to show up and have this discussion and say, doesn't matter who you voted for. What matters is you have a person in office who promised you transparency and did not give it to you. Pam Bondi herself said, the files are on my desk. They're coming. had influencers. Donald Trump had influencers come and say, we're going to do this.

21:33So yes, accountability means that we have to understand anybody has to be accountable. I would just add, I think the biggest problem for Trump has been how he's dealt with this, right? He usually has a sort of incredible ability to see what his base wants and deliver it. And he really was sort of caught flat-footed. Now we're seeing them sort of try to shift the blame on Bondi. And Bondi did put out these binders that were labeled phase one, which makes a person think there might be a phase two, phase three. Binders filled with easily Google-able information. I have to fit in more stuff. So I want to say both of you have really enlightened us because you've also broadened this out to the stakes, even again, separate from the underlying case.

22:18I want to thank our experts, Maya and Molly. I want to tell folks coming up, you will hear directly why Stephen Colbert took a big risk to go after his own employer last night over what he calls this corporate bribe to Trump. Backlash to those ice raids we were just discussing. We have more on that. And how much are grocery prices, I should say, going up under Donald Trump? We have the data later in the hour.

22:46Most ice cream is good, but not Jenny's. Jenny's ice cream is more like an obsession. What you get from over two decades of tasting and tweaking and throwing it out and starting over, chasing flavors until they feel alive. That might sound crazy, and that's because it is. Jenny's. Often imitated, never duplicated, always splendid. How do you want to split it? Actually, dinner's on me. Okay, big money. Well, I got a Venmo balance that I can spend with my Venmo debit MasterCard, so. Well, I Venmo'd you three times last week, so it's kind of on me, actually. Yeah, you send it, I spend it. Did my money get, like, reincarnated?

23:26Yeah, it was chicken shawarma. Want it back? I can't believe you, like, ate my Venmo. Spend your balance instantly with the Venmo debit card. No monthly fee or minimum balance. Venmo balance account required to get a card and use a balance. The Venmo MasterCard is issued by the Bancorp Bank N.A. Normally in these ads, you'd expect someone like me to ask you to buy something. But I want to ask you to do something different. I'm Dave Ferenthal, and I'm a reporter for The New York Times. I'm an investigative reporter, which means that I follow the money, inside of government and outside of government.

23:55The point of my job is to find things people are trying to hide. It involves talking to lots of people. It involves looking through lots and lots of documents. And if there weren't folks like me to go beyond the surface to understand who was really shaping what the government does, the public will be left in the dark about what the government's doing with your tax money, what the government's doing to you through regulations and spending. If you're like me and you think this kind of journalism is important, seek out a news source that does firsthand, fact-based reporting. If that's the New York Times, thank you.

24:25If that's your local paper, that's great too. Because where you get your information matters.

24:36There are a lot of stories right now. I mentioned that in our lead with Nicole Wallace. How do you talk about this if not that? Well, we're still keeping an eye on Donald Trump's trade war. He blew past that self-imposed deadline for 90 deals. He has about two. Now we're seeing more impacts. And as you know, if you remember all the old inflation, this stuff takes time because it's a mass, like large global economy. Massive different shifts. But inflation and prices are up, accelerating over two points. The reports are clear. Trump's tariff pushing up prices. A top economist says there's ample evidence tariffs, that's from Trump, are being passed on to consumers.

Read the full transcript

25:14So he's going forward with the trade war. It may not be in the news every night like when it first started, but you are paying for it every day according to these economic experts. Grocery price is up another three points, but since last year, if you use ground beef, it's up 10%. Roasted coffee, we use a lot of that in the newsroom, 12%. eggs, as you may have heard, are up by a whopping 27%. That's the raw price. If you go out for brunch or something occasionally as a treat, well, it goes even higher. Remember what Trump ran on, sometimes the great political effect. It was all about the things right now he is failing to do.

25:55Bacon is through the roof. They're all through the roof. The milk, everything is bad. And we're going to straighten it out. We're going to bring prices way down so that everyone can afford groceries, a car and a home. Common sense. People can't afford their groceries and they're going to be affording their groceries very soon. Very soon. He said that after winning this election, but it's not what's happening. You see here. So where do we go? Well, Trump has been delaying the tariffs that are even higher or more severe, which would cause even more of these kind of price hikes. The question is always with reality.

26:28And this is something we study as journalists is if the reality is this, but it's covered or it's off camera, then people don't hear about it. But eventually this will still catch up with people because, as mentioned, the prices are out in the real world, even if it's not in the news every night. Now, abroad, we have the Kremlin saying that Trump's threat to tariff Russia is just a theatrical ultimatum, a bit of shade from a Putin government that's often more warm towards Trump. Wall Street calls him a chicken, which is a punchline now. Trump always chickens out. Yeah, Trump was like, oh, it's more like pizza.

27:06President is awesome. Master five-piece family meal.

27:14Those are the jokes, but the punchlines on everyone paying for this. And if Donald Trump isn't getting more jobs to America, isn't winning the trade war in any real sense, and is increasingly getting burned politically, why, as a country, do we have to continue to go down this path? We have a very smart expert who speaks plain English on all of this when we come back.

27:54Hey, he wanted to be a macho man. He got Taco Man instead. A lot of talk about Taco Trump, saying that he always chickens out. We're joined by Justin Wolfers, the public policy professor of economics at U of M and host of Think Like an Economist podcast. Welcome. Hi, Harry. Are the tariffs raising prices here at home? A little bit for now and a lot more in the future. So just to explain that to viewers at home, the first of the tariffs, the first of big tariffs came in in April. They didn't apply to goods that were already on ships. It takes about a month for a ship to get from China to the US.

28:33Then they have to get through customs. So that takes us from April to May and then May to June. And so this was the June data. So we're just starting to see things like apparel, appliances and the like. But given that the big tariffs actually weren't even on back in April, then there is that two-month delay and then stores have to decide whether or not they want to change their prices. This is, you were extremely accurate in saying this is going to play out a little slower than I think a lot of the news media are ready for. Yeah. And the Trump side was give us 90 days so we can get these deals done.

29:07We're past the 90 days. From an economics view, why are we continuing down this road? It seems that if there were any kind of fast or gettable deals to be done, they did not happen. Right. So in the clearest possible terms, what's happening now is we had the April tariff announcement that he called Liberation Day that led markets to meltdown and every economist in America to start predicting there was a high chance of a recession. He backed off and said, I'll get 90 deals in 90 days. 90 days just passed and he got two frameworks, zero deals. why are we here again well the 90 days ran out and i had hoped because i hope i i pray for for good economics sometimes that he would back off but actually more or less what he's done is he's either gone back with the same tariffs on most countries or in some cases he's actually gotten a lot more aggressive so if you didn't like liberation day part one liberation day part two the summer rerun is no less boring, but actually even more painful.

30:11Yeah. Well, sequels are controversial for that reason, as you may know, in general. When you look at the banks, they're tracking this. Goldman says that the vast majority, 70 % of the tarot costs will be borne by the US consumer. But I wonder if you could speak to the gap between the raw numbers and the perception. I alluded to this earlier. If it's slow enough and we're in this polarized information environment, does it actually create the awareness and the countervailing pressure on the administration? Or does it sort of seep out over time and does not saddle Trump with what, for example, did hurt Biden?

30:50Whether you think it's fair to blame him or not, people were well aware of high inflation, was higher than it is right now. And that caught up with that administration. Yeah. So I think what we learned from Biden is when people pay higher prices at the supermarket, you can have as many liberals on TV telling you it's not a problem, but they hate it. And that's going to play out for Trump. Now, there's a second factor in the way Trump does policy, which is he listens very, very closely to Wall Street. So we saw that play out one way back in April, which is he announced an absolutely horrible policy.

31:22Wall Street tanked, and then he backed off. That's what led to that whole taco, Trump always chickens out remark. Now, what's happened is Wall Street now believes Trump always chickens out. Now, we don't know about always. We know that he's done it once. And in fact, if you look at other policy domains like immigration, he seems to be doubling down, if anything. And so as a result, Wall Street believes he's going to chicken out. Therefore, Wall Street's not tanking. Because Wall Street's not tanking, Trump's not chickening out. And that's what really worries me, which is making policy by listening to Wall Street is a bad idea.

31:58And it actually makes that feedback loop. He's sort of broken it. And I'm worried that he's actually going to keep going and actually charge these tariffs. Right. Because as you say, Wall Street has priced in the expectation of the chickening. You're saying he needs a market wolf, if you will, to be a chicken. Wow. We were really getting into the farmyard animals. And maybe let me, I'm going to try and add to that. Maybe it could be a few big corporations, a few pigs with their snouts in the trough, depending on which pigs they are. Some of them are going to be helped by tariffs and they're going to want assistance.

32:35But actually, most American corporations are starting already to see some pressure on their profit margins. And so if he's not going to hear from Wall Street, hopefully at least he'll be listening to big business. All makes sense the way you put it. Justin, I don't want you to feel that we've left Australia out, that we're only doing American animals here. So we can end with this. You ready? I'm on the edge of my seat. This is in your lane.

33:04Why can't you trust kangaroos in business? You gotta tell me. Their checks always bounce. Wow. Wow. Wow. That's Australia and economics-ish, business-ish, So it's really for you. I don't know if you I don't know what your students would think of that terrible joke, but but it is an OG. It's an original. I feel like I'm out of a job now, Ari. Do you tell jokes in your classes? I don't know your style. Terrible dad jokes in an Australian accent. That's why I feel like I'm out of a job, man. The unemployment rate just ticked up and it's because of you, Ari. Wow. There it is. We saw it happen. I want to apologize to everyone on behalf of myself and Justin, professor.

33:50I will say when I was at U of M, because you teach where I once went, we liked the professors who would mix up. Everyone would groan. We would make fun of them, but we liked it. So that's but that may be antiquated. I don't know what it's like today. Justin, thanks for being here. Great pleasure. When we come back, we actually will hear directly from brand new statements from an actual comic who is actually funny. Stephen Colbert, but getting serious, calling out his employer for doing what he calls a bribe with Trump.

34:25Critics say President Trump's abuse of government power to influence or censor the press, including his critics, amounts to a kind of extortion out in the open. We have a new chapter on this. Stephen Colbert really weighing in for the first time on that huge payment that the parent company of his employer, CBS, for the 60 Minutes interview of Kamala Harris has made. Now, Colbert is back on the air, and this is no easy feat. He's talking about his own bosses at the highest levels of the company and joining in the criticism that we also already heard from some of the most peerless, kind of top journalists in 60 Minutes.

35:07While I was on vacation, my parent corporation, Paramount, paid Donald Trump a$16 million settlement over his 60 Minutes lawsuits. As someone who has always been a proud employee of this network, I am offended. And I don't know if anything will ever repair my trust in this company. But just taking a stab at it, I'd say$16 million would help. There's humor there. And Colbert has long walked this line of not wanting to be seen as some sort of constant political propagandist. He's sort of poking fun at himself while dealing with the seriousness of Paramount settling this case with the government approving its merger and that looming in the background.

35:48The issue that led the 60 Minutes chief to quit in protest, which then we heard in a rare, rare rebuke from CBS Scott Pelley, an anchor, correspondent for 60 Minutes, longtime journalist, totally nonpartisan. But he spoke up at that time. Our parent company, Paramount, is trying to complete a merger. The Trump administration must approve it. Paramount began to supervise our content in new ways. None of our stories has been blocked, but Bill felt he lost the independence that honest journalism requires. That is about as clear a statement you can get from the top on air that the new corporate overlords were interfering with what they viewed, the journalists viewed, as honest reporting.

36:40Colbert, using his own voice and tone, says, look, this was, in his view, clearly a bribe. Paramount settlement did not include an apology. Instead, that's good. Instead, the corporation released a statement where they said, you may take our money, but you will never take our dignity. You may, however, purchase our dignity for the low, low price of$16 million, We need the cash. Now, I believe this kind of complicated financial settlement with a sitting government official has a technical name in legal circles. It's Big Fat Bribe. That's his tone. Sounds like jokes, but you can bet they are hearing it at the very top of his company and the White House, having struck a deal that they would like no one to notice or criticize as they go on to try to control what you see on the airwaves.

37:31we will stay on these stories with our effort at honest reporting i'm gonna fit in a break but when we come back jason johnson is here that's next

37:47we got a good one for you it's time to fall back two incredible guests the legendary u-god founding member of the hip-hop collective the wu-tang clan i know jason's more excited for him than, well, anything else today, and that's okay. Let's take a look.

38:23Wu-Tang still rising. They're doing a big tour. We just heard from RZA about that, and we're excited to have more Wu members here. You got as a solo album singer coming out this fall and the signature drink Venom out now, which we were just discussing. You can see it right there. We'll get into that. Our other guest, of course, Jason Johnson, MSNBC analyst. Also fills in right here on the beat and we appreciate him every time doing his journalistic, professorial, classy best. Don't forget, Kenny G loves him. It would be two parts for him. It would be a part that would go.

39:03And there would be

39:09Because he's a nerd, but he's also got soul Soulful nerd, says Kenny G Welcome to both of you

39:16Jason Johnson:I love you, Kenny G You like Kenny G? Yes, I do Did you know that he wrote a little jingle To personify Jason Johnson? Because he did Oh, I didn't know that Yeah, there you go You learn something new every day Jason, you're the hometown hero So you can do your fallback first, sir Cool. I'm going to give it to you with no trivia. My first fallback is everybody out there who is working with ICE. Look, we know we may not be able to stop where the Trump administration puts their internment camps or puts their sort of ICE detention centers, but companies don't have to work with them. There's a New York Times op-ed about someone saying, well, I don't want to make money off of reserving my space to ICE.

39:54Jason Johnson:In Miami, you had several businesses, Churomania, Elote Lovers, Kona Ice all say, look, we may have had food trucks there, but we don't want to support ice. If you don't like what this administration is doing and you don't like ice, fall back and you don't have to work with them and you don't have to sell them churros. There you go. And I know you're excited for this Wu segment. Yes, Jason? Oh, yes, I am. So that's that's Jason's fallback. Very interesting. And he got right to the point. I'm wondering what's on your mind, what's on your fallback list. I know you were thinking about some of these aging lawmakers.

40:25Jason Johnson:Oh, my goodness. These guys, it's like the presidents nowadays is like 100 years old, these guys. You know, they go Air Force One, they fall down Air Force One going up the stairs now. It's like, come on, Joe Biden falls asleep in the thing, I'm a doodle in. And the current president is also up there. Yeah, I'm like, yo, why can't you get some young guys, young blood up in there? Some 35, some 45-year-old presidents up in there. So you feel like as someone just looking at this kind of nonpartisan big picture, it's gotten sort of too elderly and not room for the next generation. The Democrats are facing that, not just with Biden, but Chuck Schumer's had a long career.

41:01But there are folks saying, hey, you did it for decades. Can we try new voices? Yeah, some new young blood. What's wrong with young blood? I don't know. What's wrong with that? I mean, you know what Nas said? Old head gave me old news.

41:17You slick stuff.

41:19Jason Johnson:Jason, what else is on your list? My next fallback has to do with, you know, I know that you guys know about Iron Man and other superheroes. My next fallback is about Superman. All these conservatives who want to hate on superhero movies fall back. First off, they made for you. They made for old grumpy people who don't like superheroes. If you don't like Superman, if you don't like the Fantastic Four, watch something else. But trying to turn every single superhero movie, which is meant to be fun and exciting and enthusiastic and aspiring for people, trying to turn everything into a negative political reflection of woke culture.

41:53Jason Johnson:They need to fall back on that. I got to join you on this one. I'm going to join you on this one, Jason. We'll see if you got as a thought. But I remember the whole thing about PC politically correct is that thing that you'd have to dance around everything. Now, some things are about respect and rights, and I don't just call that PC. But other things, I get the idea. Is this not the right wing being super PC? If you don't tell the story the exact way they want it told, then they don't like Superman anymore. All right. Superman is based off of Moses. He's an immigrant from another country whose archenemy is a billionaire.

42:30Jason Johnson:If it's suddenly woke now, it was woke 80 years ago when he was invented. Sit back and enjoy the film. Chill and touch grass. Wow. Touch grass. You want to get in on that? Yeah, I love that, man. That's my type of stuff. Me personally, superhero movies have always been good for kids to get away and to aspire to be better than themselves. It's not about the story. It's about the origin story of maybe coming from humble beginnings and get bit by a spider and then get superpowers. Going through some type of traumatizing event. And then you can climb a wall. Come over to adversity. It's adversity.

43:08Jason Johnson:So I like them. I like all this stuff. And you're an artist. Isn't it strange when people, instead of saying, oh, I like that or that wasn't for me and there's all these choices. Isn't it strange for someone to go, as they did here, to the Superman creators? It'd be like someone coming to you and being like, actually, you should play the violin. Actually, I would prefer different music. And wouldn't you want to say to them, cool, go listen to the music you like? That's right. That's right. Freedom of space, right? Yeah. Freedom of choice? But it's strange. Yeah. Freedom of anything. It's strange to go to you and be like, no, actually, you should have changed a Superman movie and you shouldn't do hip hop.

43:41it's just, I think, a strange energy.

43:43Jason Johnson:Oh, man, these people, humans, humans are getting on my nerves. Human functions, humans just drop me clean. What bothers you in New York? I know you love New York and grew up here, but, you know, we had flooding on the subways, we got people crammed in, anything that you think people need to fall back on in New York City? In New York City? Mm-hmm. In New York City. Well, I've been living New York my whole life. Yes, sir. And I've seen things come and go. and a lot of things have fell back. Well, you know, the city ain't as wild as it used to be. Sure. You know, 42nd Street is the Waldorf Astoria compared to how it used to be.

44:20Jason Johnson:Respect. So the fallback, I think it's already in motion. Yeah, kind of getting the city in that good place. I hear you on that. Wu-Tang Tour, Project Venom, is you're sort of entering into the Tastemaker universe. Where can people find your stuff online? Right now, you can get the Venom on the West Coast. We're trying to get to the East Coast right now. It's a slow, gradual burn. Wu-Tang, we on tour. You know, we run the jewels. The whole clan is out. Killer Mike opening for you. Yeah, Killer Mike. Respect. Yeah, and LP. And we're doing our thing. And, you know, Wu-Tang's forever, man. You know, we're going to keep doing our thing.

44:56You know why Wu-Tang is forever? Why? Because it's for the children. Appreciate you. You got Jason Johnson. and covered a lot of ground. Thank you so much. Trying to end the day on a high note, which we can do because of both of you. Our thanks to both of you. Thanks for watching The Beat with Ari Melber. You can always find us online at Ari Melber, wherever you use social media. There we go. We're still in the vibe. And the weeknight starts now. Hey, everybody. It's Rob Lowe here. If you haven't heard, I have a podcast that's called Literally with Rob Lowe. And basically, it's conversations I've had that really make you feel like you're pulling up a chair at an intimate dinner between myself and people that I admire, like Aaron Sorkin or Tiffany Haddish, Demi Moore, Chris Pratt, Michael J.

45:49Fox. There are new episodes out every Thursday. So subscribe, please, and listen wherever you get your podcasts.

From the publisher

MSNBC's Ari Melber hosts "The Beat" on Tuesday, July 15, and reports on the MAGA meltdown and crisis of confidence among Donald Trump's base over the Epstein files and the economy. Plus, U-God and Jason Johnson join for the latest "Fallback" installment. Justin Wolfers, Maya Wiley and Molly Jong-Fast also join.
To listen to this show and other MS podcasts without ads, sign up for MS
NOW Premium on Apple Podcasts.

Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com
for information about our collection and use of personal data for
advertising.

More from The Beat with Ari Melber

All 321 episodes
Trump Fails to Stem MAGA Fury Over EpsteinThe Beat with Ari Melber · 41 min
Listen in VO