Trump Gets a Rude Awakening in AM as Plans Blow Up

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1:58Ben Meiselas:Donald Trump just got a rude awakening on Thursday morning as his$40 billion bailout in Argentina has already failed. The Argentine peso continues to collapse. So he literally just took$40 billion of your taxpayer dollars and shredded it. It didn't even help prop up Argentina's dictator, Javier Malay, which Donald Trump was trying to do. Yes, the American intervention to prop up the Argentine peso has failed despite the United States intervening. The peso just lost 10 % of its value in the first two weeks of October, pushing the overnight interest rate to 157%. Also, while J.D. Vance was in the Middle East, We also saw that Israel's Knesset or a portion of it approved a plan to potentially annex the West Bank.

2:50Ben Meiselas:There are four separate votes that need to take place. And we see that ceasefire, which has already seen over 50 deaths of Palestinians since the ceasefire was announced, continuing to fall apart. It was never a peace deal and there was never an agreement to a two-state solution. I've been calling out it over and over again. Also, we're seeing additional data that total federal spending is up 7 % in 2025 over 2024 year to date through October 20th. We're just getting this data in, Aaron Sojourner writes. So the story that somehow the federal government is tightening its belt, it's contradicted by its own real-time expenditure data.

3:40Ben Meiselas:So what we're seeing right here is a significant increase in federal government expenditures. And remember when Doge said, oh, we're going to cut back on federal government expenditures. It's the opposite. As Donald Trump is spending his money pilfering on vandalism, on engaging in a number of horrific, horrific acts. See the ICE budget skyrocketing. things are getting worse not better when it even comes to federal spending you take a look right here as well a new report that we're seeing Carl Quintanilla reports so the share of the country right now in expansion mode over the past six weeks is at 18 percent that's the lowest share we've seen since May of 2020 right when COVID was really starting to accelerate and we started to see the increase in deaths and we were basically shut down.

4:39Ben Meiselas:So I just want you to think about that. Here we are, October 2025, and the percentage that we see of the country in expansion mode looks like May of 2020, also when Trump was in office. The reality is, at least quantitatively, and we care about quantitatively here on the Midas Touch Network, I don't try to spin you and say, oh, look at how great this is. Let's look at the data is always what I say. The economy as of right now is in a mild recession, which could be getting worse. The equity markets don't reflect that. The stock markets don't see, doesn't see that. But you absolutely see that in the bond market right now.

5:20Ben Meiselas:Some other data points we're seeing this morning. Colorado's insurance commissioner is warning there that the health insurance premiums could rise 160 % next year on average. with the hardest hit households facing a$22 ,000 increase in their annual cost. Just think about that. In Colorado,$22 ,000 increases in annual cost. Who can afford an additional$22 ,000? Who can afford an additional$2 ,000? Who can afford an additional$1 ,000 right now? $22 ,000. And by the way, that's not unique to Colorado. that's in every state right now. I mean, I saw Pennsylvania, their health insurance premiums on average will rise 103%.

6:12Ben Meiselas:I mean, you even had Marjorie Taylor Greene going on Tucker Carlson and saying the following, play this clip. Food prices are high, rent is high, home prices are ridiculously high, cars are high, auto insurance, home insurance, health insurance is insane, Energy prices are high. I can tell you that in my own electric bills. They're much more expensive than they were even a year ago. Earlier today, you had Harry Enten, who does all that polling, talks about polling on CNN. He was asked about Donald Trump's approval when it comes to the economy right now. And he said it's the worst ever for Donald Trump, including Trump's first term.

6:56Ben Meiselas:Trump has never been this low in terms of approval when it comes to handling of the economy ever. People absolutely despise what he's doing. Here, play this clip. Yeah, my mama was a doctor and I think she'd look at these numbers and say that Donald Trump's doing absolutely awful in the minds of the American people. What are we talking about? We're talking about new lows for Donald Trump. He's hit new lows for himself. Trump's economic net approval rating hits lows with these posters. or CNBC, look at this, down now, minus 13 points on the net approval rating on the economy. You come to this side of the screen, it's minus 19 points among Quinnipiac.

7:33And keep in mind, we're talking about hitting record lows for Donald Trump in either his first term, which of course ended back in 2021, or his second term, which is ongoing right now. The bottom line is Donald Trump is at the lowest point ever in either of his terms. But compare it to presidents historically. Yeah, let's take a look at this. Donald Trump is beating himself and the way you don't want to beat yourself. Record lows, but let's compare it to other presidents. Well, let's take a look here. Okay, worst economic net approval ratings at this.

8:00Ben Meiselas:And while the economy is horrible, unless you're a billionaire, a corrupt and oftentimes criminal billionaire, right-wing billionaire that you know for Trump, what's Trump doing? Trump pardoned CZ, Shengbing Zhao, the kind of the crypto guy who started this company called Binance, who was involved in this massive money laundering scheme. Trump just pardoned the guy. Let me just explain to you what this guy did and admitted to doing. Binance and CZ willfully failed to report transactions on its platform by Al-Qaeda, ISIS, Hamas, the Palestinian Islamic Jihad. But then Trump's crypto company made a multi-billion dollar deal in partnership with Binance, World Liberty Financial.

8:50Ben Meiselas:That sound familiar to you? World Liberty Financial. That's the same group that brought in lots of money from Pakistan, World Liberty Financial. So Trump gave the founder a pardon, shockingly brazen corruption. As N Citizens United says, Trump's crypto corruption spree is never ending and increasingly brazen. In his latest pay for pardon scheme, Trump pardoned Binance's billionaire founder, the same guy who has been supporting Trump's crypto business, World Liberty Financial. As this one account says, I guess it's called corruption. Never heard that before. I said, wow, what a beautiful word. It comes from the Latin corrompere, but it's something we're doing, we'll be doing perhaps even more, even better.

9:35Ben Meiselas:You've never seen corruption like this before. Utterly despicable. As you see, the White House being torn down. The East Wing is fully demolished. There is no longer an East Wing in the White House without getting the approvals, without going through the National Planning Commission. It's gone. No more East Wing of the White House. Trump just bulldozed it to the ground on his own during the government shutdown as they hide the Epstein files. You know, I remember the first time I overdrafted my old bank account. I didn't even realize. And what a nightmare. Huge fees, stress and all for something as simple as a small purchase.

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11:19Ben Meiselas:The Democrats released this graph right here to maybe make it simpler. Things Trump can't afford. $40 billion bailout for Argentina. Golden ballrooms. Qatari jets. $236 million settlements between the Department of Justice. and himself. He's settling with himself because he claims he had pain and suffering because of the 2020 election. So he's taking your money and paying himself right now. That's where it's going right now. What's it? $172 million of your money can't afford. $172 million for Kristi Noem's private jet. She's getting Gulfstream jets for her and Corey Lewandowski to travel around the country.

12:04Ben Meiselas:But what we can afford is health care for Americans. Children's cancer research is being cut. SNAP and WIC benefits, women, infant, and children, special education programs, that's being cut. Oh, by the way, by the way, everybody, Christian musician, Trump's buddy, a Christian musician, Shep Tak, who sang the national anthem for Trump in 2022, good buddy of Donald Trump. Guess what? Now facing felony child pornography charges. Yeah, seems like this keeps on happening. Like everybody in that orbit that's hanging out is being charged and being found with like child sex pedo stuff like and being involved in sex trafficking rings.

12:44Ben Meiselas:I don't know. It seems that there's a theme right there going on. Meanwhile, cattle ranchers are absolutely pissed. I read to you earlier this morning the top beef association saying that Donald Trump has betrayed the ranchers. We're hearing a lot from cattle ranchers like this because the tariffs have screwed them, made prices increase. Then Trump's lecturing them and saying, you need to make your prices lower, cattle ranchers. You don't know what you're doing. Trump made a social media post yelling at the cattle ranchers as though they control their own market, like that they should engage in price fixing.

13:21Ben Meiselas:And the cattle ranch is like, dude, what the hell do you know about cattle ranching, Donald? You have no clue what you're talking about. And then Trump says, let's bring in Argentinian beef and undercut the cattle ranchers because Trump's pissed that the prices of beef are high here. But he's the one making the prices high here because of the tariffs. Anyway, here, play this clip of this Nebraska rancher. Let's play this clip. Well, I don't think it's a good idea. I think probably what you've heard a lot today is we should just allow our markets to dictate the price of beef. And there's a lot of factors in that.

13:59I think most people out here have the view that the government should just be pretty limited and not kind of meddling in the free markets.

14:08Ben Meiselas:I'm going to read that. Oh, should we check in with what Maga Mike saying this morning? So pathetic. You had Maga Mike earlier this morning being asked about Trump paying himself$230 million settlements from his own DOJ. Maga Mike still hasn't heard about it. Everybody here play this clip. You said yesterday you were still trying to get the details of this$230 million the president has asked from Justice Trump to pay for his legal bills. Now that you've had some time left to get the details are you okay with taxpayers potentially being on the hook for that kind of money this i'm not trying to dodge the question i haven't had time to get the details okay that's still on my list things to do list it was yesterday was a almost literally a 21 hour work day yes sir oh really mega mike you haven't heard about that yeah yeah you don't want to look into it maybe and then mega mike's asked by a reporter so why don't you bring back the house like what why are Why are you still telling Republicans to stay on vacation?

15:06Why don't we at least vote right now to at least pay the essential workers?

15:11Ben Meiselas:Let's pay the workers. Sure, Democrats will vote for paying the workers. Bring them back. And then Mag and Mike's like, but then I won't have leverage over Chuck Schumer. Here, play this clip. If I brought everybody back right now and we voted on a measure to do this, to pay essential workers, it would be spiked in the Senate. They're going to show you this afternoon that they would spike that bill. So it would be a waste of our time and it would it would take the pressure off Chuck Schumer to get his job done and open the government again. This is what's so infuriating to us. Yes, sir. And finally, in another very offensive moment, Maga Mike Johnson attacks Representative Elect Adelita Grijalva from Arizona's 7th Congressional District for not working right now while he refuses to swear her in.

15:55Ben Meiselas:He goes, it's her fault. She has a staff. She needs to do her work. She's not even allowed into the Capitol building, basically, after certain hours because she's not officially a congresswoman. She does not have the authority to do these things, Maga Mike, because you're covering up the Epstein files, because she'll be the 218 signature to the discharge petition. You're refusing to even in a pro forma basis swear in Congresswoman-elect Grijalva. Never happened before. Anyway, play this clip. So Rep Grijalva can work. Rep Elect Grijalva can work for her constituents right now. Constituent services answering the phone.

16:28She has computers and 16 employees and there's no excuse for it. OK, with the Epstein files are being released. 43 ,000 pages now. There was another batch of documents dumped on Friday of last week, which included Epstein's personal ledgers, his financial ledgers, his daily calendar, his flight logs, all the things that people have been saying they wanted. it's all coming out. Why? Because the House Oversight Committee has been working through this period, even when we're not on the House floor, to go through and dig through the Epstein estate files and all the rest and get them out. So these are all distractions, all distractions from the main point.

17:03They have shut the government down for political purposes, and we've got to get it reopened.

17:08Ben Meiselas:That's what's happening this morning. We'll keep you posted every step of the way. Hit subscribe. Let's get to 6 million subscribers. Thanks for watching.

17:19You'll get daily recaps from Ron Filipkowski, ad-free episodes of our podcast, and more exclusive content only available at MidasPlus.com.

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