Trump makes Fatal Calculation during War!!!

7 Mar 2026 · 25 min · 8 chapters

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In short

MeidasTouch Podcast Episode Summary: Trump Makes Fatal Calculation During War

Episode Overview In this episode of the MeidasTouch Podcast, hosts Ben, Brett, and Jordy Meiselas discuss Donald Trump's economic decisions amid escalating tensions in the Middle East, particularly regarding Iran. Ben Meiselas highlights Trump’s strategic miscalculations and their potential ramifications on global economies.

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Key Points and Discussions

Trump's Economic Miscalculations

  • War Initiation and Economic Impact
  • Trump’s decision to invade Iran has triggered significant economic consequences, with nations like Qatar warning of potential global economic collapse.
  • Qatar predicts that oil prices could skyrocket from $95 to $150 per barrel due to the war, leading to severe disruptions in global energy supplies.
  • Insurance and Financial Shortcomings
  • The U.S. Development Finance Corporation (DFC) is reportedly underfunded ($200 billion short) to provide necessary insurance for ships in the Strait of Hormuz, further exacerbating economic risks.
  • Oil Reserves and Economic Security
  • Current U.S. strategic oil reserves are at a critically low level (415 million barrels, about 58% of capacity), leaving the country vulnerable.
  • Trump's failure to replenish reserves during periods of low oil prices has drawn criticism, as it undermines national security.

Economic Indicators and Job Market

  • Job Losses and Economic Health
  • A surprising report indicated a loss of 92,000 jobs in February, contrary to expectations of a modest gain, pushing unemployment to 4.4%.
  • The impact of tariffs and economic policy under Trump significantly contributed to rising inflation, which was already a pressing issue before the war.

Political Responses and Media Coverage

  • Government Officials' Reactions
  • Trump’s economic advisors have offered contradictory statements about the state of the economy, downplaying the seriousness of job losses and inflation.
  • Officials like Treasury Secretary Scott Besson suggested that unsanctioning Russian oil could alleviate market pressures, raising eyebrows over the regime’s priorities.
  • Media Perspective
  • Different media outlets present contrasting narratives about economic stability, often attributing job loss to external factors like weather or strikes rather than inherent issues in Trump's economic strategy.

Broader Implications

  • Global Economic Outlook
  • The potential for an economic depression looms as the war continues, with experts warning of delayed recovery for Gulf nations and global GDP contraction.
  • Trump's actions are seen as self-serving, prioritizing personal gains over national and international economic stability.

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Key Takeaways

  • Catastrophic Economic Errors: Trump’s impulsive decisions are shown to have disastrous implications for both the U.S. economy and global markets.
  • Lack of Preparedness: The inadequacy of strategic resources, such as oil reserves and insurance for maritime activities, highlights a significant oversight in national preparedness.
  • Political Ramifications: As economic indicators worsen, political debates surrounding responsibility for the economic downturn intensify, with potential consequences for upcoming elections.

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Additional Notes

  • The episode underscores the blend of comedy and serious discourse characteristic of the MeidasTouch Podcast, with the brothers leveraging their unique backgrounds to provide insightful commentary on pressing political issues.
  • Listeners are encouraged to stay updated with future discussions as the Meiselas brothers continue to explore the interplay between politics, economics, and societal impact.

Related Links

  • [MeidasTouch Network Podcasts](https://www.meidastouch.com/tag/meidastouch-podcast)
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This structured summary encapsulates the main themes and discussions from the podcast episode, offering insights into the complex relationship between political decisions and economic outcomes.

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

Chapters

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Trump's Fatal Calculations in War

2:51 to 7:20

Discussing the economic repercussions of Trump's decisions in the Middle East.

“And now you have countries like Qatar after Donald Trump was holding this board of peace or whatever the hell he called it meeting.”

Impact of Trump's Decisions on US Economy

7:20 to 11:43

Analyzing the consequences of Trump's policies leading to economic downturn.

“As the Financial Times reports, depleted oil reserves now leave the United States exposed as Iran war pushes up prices.”

BlackRock and Financial Instability

13:49 to 14:02

Examining BlackRock's recent actions and their implications on finance.

“So with all of this taking place, you know, you're wondering too, Like what's going on with BlackRock?”

BlackRock and Blackstone Withdrawal Issues

14:02 to 15:08

Learn about the recent withdrawal freezes by major investment funds and their implications.

“So BlackRock just froze$1.2 billion in withdrawal requests at its private credit fund.”

Analyzing Trump's Economic Advisors

15:08 to 16:09

Explore insights from Trump's Federal Reserve Governor and economic advisor on inflation and labor markets.

“So Donald Trump then sends his sycophants, his regime talking heads out there like this guy right here, Trump's Federal Reserve Governor, Stephen Moran.”

Jobs Report Analysis Amid Economic Challenges

16:09 to 18:39

Discuss the latest jobs report and the factors affecting employment numbers during Trump's administration.

“Now here is what, uh, Kevin Hassett, Donald Trump's national economic advisor had to say.”

Political Ramifications of Economic Conditions

18:39 to 20:54

Examine how economic conditions are tied to political narratives and upcoming elections.

“We're laser focused to make sure that we have that skilled workforce.”

Trump Administration's Foreign Oil Strategy

20:54 to 22:08

Analyze the Trump administration's approach to unsanctioning Russian oil and its geopolitical implications.

“I think we all know that when you have a kinetic conflict like this, whether you want to call it a war or not, we are putting energy, resources, money into this.”
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Transcript

Automatic transcript. May contain errors.

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2:51Ben Meiselas:After hearing that Israel's going to attack Iran, Donald Trump initiates his invasion of Iran and then screws over every Middle East nation, absolutely destroys all of those nations that Donald Trump also was doing his own personal business interests with as well. And now you have countries like Qatar after Donald Trump was holding this board of peace or whatever the hell he called it meeting. You have Qatar saying the Iran war could bring down the economies of the world. That's what Qatar saying. Qatar usually will give you statements when it comes to the economy that's even keeled. They're saying economic calamity.

3:34Ben Meiselas:The entire economies of the world could be on the brink of crashing. They warn that oil, you know, right now,$95 per barrel, that could see$150 per barrel within days as Gulf countries prepare to shut down production. Qatar predicts that all Gulf energy exporters will shut down production within days. Let me repeat that. Qatar predicts that all Gulf energy exporters will shut down total production within days. And even if the war then ends immediately. All of a sudden, Donald Trump declares fake victory, even though he's a loser. Qatar says, look, it'll take us weeks or even months to return to normal.

4:16Ben Meiselas:And Qatar predicts that natural gas prices are now going to rise 400%. Qatar says that global GDP will be hit in massive ways. We could be heading into a world economic depression as a result of Donald Trump if this continues for just a few more weeks. And Qatar says that the war will delay all expansion plans for countries in this region. So Donald Trump, of course, responds with a panicked response because that's what the Trump and his regime always does. So they say, okay, okay, here's what we're going to do. We'll provide insurance to the entire region, regardless of the country. let's get those freights let's get those uh big cargo ships let's get them out of the strait of her muse take the risk everybody we'll get you out of there and if you get hit and people die because iran is uh hitting their targets all good we've got you when it comes to insurance so donald trump orders the u.s development finance corporation you got to do this but here's the The catch, the U.S.

5:26Ben Meiselas:Development Finance Corporation is$200 billion short of the capacity needed to underwrite insurance policies for ships going through the Strait of Hormuz per Financial Times. The details include the following. The U.S. DFC was ordered by President Trump this past week. Ensure vessels, give them insurance in the Strait of Hormuz because no insurance company is going to do it right now. So Trump's like the government will do it. Big government. You know, the government here in the United States that rips away people's health care, that sends ICE and Border Patrol Gestapo to kill people, right? The destructive government.

6:06Ben Meiselas:They're going to do insurance when it comes to these cargo ships. But DFC reportedly has a$154 billion of the$325 or$352 billion needed to underwrite insurance policies. Raising the total liability cap for the U.S. DFC would require an act of Congress. Traffic in the Strait of Hormuz is now down 92%, nearly 20 million barrels per day of oil supply are currently frozen. So then after Donald Trump realizes, oh, we don't have the money, he's like, all right, let's do it on a rolling basis then. And we'll basically do like 20 billion a ship, 20 billion a time. And let's do it that way. But no one, no ships are leaving the Strait of Hormuz right now, as long as Iran continues to be able to operate the way they are with their Shahid drones and ballistic missiles.

7:02Ben Meiselas:And you saying that you have this money and you don't, at this point, you have negative confidence in you. In essence, people recognize like they should have from the beginning that you're an absolute con man. And you talk about the economic calamity and the fatal decisions by Trump on top of fatal decisions. As the Financial Times reports, depleted oil reserves now leave the United States exposed as Iran war pushes up prices. So the strategic oil reserve is currently at 415 million barrels or so, or 58 % of what it needs to be. Trump never took advantage of the lower oil prices that existed before during this past year in order to top off the country's emergency supply before launching this war against Iran, which is creating an absolute catastrophic effect.

8:02Ben Meiselas:And one of the things that Donald Trump promised on his campaign, but everything he says is an absolute lie, is we're going to replenish the reserves. We're going to replenish the reserves. Now, one of the things that Biden actually did effectively, but Trump and MAGA were criticizing, is that Biden would sell portions from the strategic reserve to actually make profits off of them. And then when the price of oil would go low, Biden would replenish it. But there were times when the strategic reserves would be low. But Biden was actually executing very sophisticated oil trades at the time. But anyway, that was being criticized by the Trump regime.

8:45Ben Meiselas:And the whole, one of the big things that Trump was saying, I mean, he said a lot of crazy things during the campaign, mostly crazy things. But one of the things he was like is, you're not replenishing the reserves. So Trump had the ultimate ability to replenish the reserves. And also he invaded Venezuela. And one of the things he said he was going to do, remember with Venezuela, I'm going to take that oil and replenish the reserves. He didn't do that. So let's ask the question. So where the hell did that oil go? To Donald Trump's oligarch buds, Donald Trump took the money and moved it to Qatari bank accounts.

9:22Ben Meiselas:And now Qatar is under attack. That's what Donald Trump put it into accounts for himself when he could have, if he was focused on the national interest, replenish the strategic reserves. And so we're just getting data point after data point right now. That is very, very worrisome because you have Donald Trump launching this war. And when we talk about the fatal errors, the fatal moves, the fatal maliciousness by Donald Trump, we already saw inflation rising. Inflation was starting to surge because of Donald Trump's tariffs against the world. The Supreme Court gave Donald Trump an out, an ultimate out when they ruled against his IEPA, emergency tariffs against the world, saying, you don't have this power.

10:10Ben Meiselas:So what does Donald Trump do right after? He invokes section 122 of the Trade Act of 1974, which is also inapplicable. He says, I'm going to use this and then I'm going to use all of these tariff inspection capabilities. So I'm raising the tariffs to 15 % across the entire world. So Donald Trump does the section 122 unlawful thing, 15 % tariffs against the entire world. The world is pissed, livid at Donald Trump for doing this. And then Donald Trump invades Iran, doesn't listen to what the people with the other countries in the Middle East who were just there for his stupid board of peace thing, you know, were saying to him.

10:55Ben Meiselas:He doesn't replenish his oil reserves. He screws over the allies or whatever you want to call the, you know, the people who Donald Trump does these quid pro quo deals, these countries in the Middle East. We don't have allies. Donald Trump's been attacking NATO, saying he's going to invade Greenland. So he's turned NATO away from him. And all of this is happening at once. So while you're getting all of this data, yesterday, what on Friday, we learned that there was a massive, massive 92 ,000 job loss numbers came out for February. Unemployment surged to 4.4%. And that data is data that precedes, that is before Trump's invasion of Iran.

11:42Ben Meiselas:That's right, US payrolls fell 92 ,000 in February. There was an expectation of 58 ,000 job gains, but it fell 92 ,000. That is very, very, very bad stuff right there. High blood pressure is the number one risk factor for mortality. Half of all adults have it, and everyone knows someone in their life who deals with high blood pressure. And here's the dangerous part. It doesn't hurt. It doesn't knock on the door. It just quietly damages over time. By March, new year momentum, it's gone. Life is busy again, but blood pressure doesn't take the season off. There's a lot in life we can't control. Your blood pressure isn't one of them.

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13:41Ben Meiselas:These statements have not been approved by the Food and Drug Administration. This product is not intended to diagnose, treat, cure, or prevent any disease. So with all of this taking place, you know, you're wondering too, Like what's going on with BlackRock? What's going on? Not that I care, but it's an indicator also of what are these oligarchs doing? What's going on there? So BlackRock just froze$1.2 billion in withdrawal requests at its private credit fund. Fund. Investors in BlackRock's$26 billion fund asked to pull out about 9.3 % of their money. BlackRock said no. Cap withdrawals at 5%. Blackstone's$82 billion fund saw record withdrawal requests the same week.

14:30Ben Meiselas:Blackstone had to put in$400 million of its own cash to cover the exits. Two of the biggest funds on the planet are limiting how much you can take out. That's kind of problematic right there. And BlackRock confirmed capping what are called redemptions at 5 % with$620 million paid out on its$26 billion HPS corporate lending fund after$1.2 billion in Q1 requests. A 9.3 % net asset value was reported by Bloomberg and Barron's on March 6, 2026. Similar pressures hit Blackstone's$82 billion fund. All right. So Donald Trump then sends his sycophants, his regime talking heads out there like this guy right here, Trump's Federal Reserve Governor, Stephen Moran.

15:21Ben Meiselas:I kind of call him Stephen Moron. As oil prices are surging, as inflation is surging, here's what this guy said. Here, play this clip.

15:30Donald Trump:You know what? Look, I mean, I think that we don't have an inflation problem. that the inflation excess is not entirely but largely a function of measurement issues. I think that the labor market can use more accommodation from monetary policy, and I don't see having a modestly restrictive stance of monetary policy as opposed to a neutral stance as being appropriate. I think being close to neutral is appropriate. And is the notion of an extended pause in itself dangerous, do you think? Is time of the essence that much? Uh, you know, I think that the longer, the longer we run policy to be too restrictive, the greater risk we run that we see jobs prints like, like we did today.

16:08Ben Meiselas:Okay. Now here is what, uh, Kevin Hassett, Donald Trump's national economic advisor had to say. Here, play this clip.

16:17Donald Trump:Are there enough asterisks, uh, in Jim's words to make this number make more sense? Well, I think, you know, Jim's right that there've been so many strong indicators this month that it's something of a surprise, but there are some weather, there are strikes on the West Coast. And I think that we also have this birth-death model, the change in the procedure at the BLS. And so I think what we need to start doing with these jobs numbers, at least on the payroll side, is take the average over a few months. And if you take the average over a few months, we had a surprisingly positive one last month and a surprisingly negative one this one.

16:51Donald Trump:But on average, it's about what we expect to be seeing because immigration has gone down by so much that break-even employment is probably in the sort of 30 or 40 ,000 jobs a month range. And so, yeah, I think it's consistent with everything else we're seeing, which is that the economy is really strong. And more from Kevin Hassett right here. Let's play it. This economy is moving the fastest we've ever seen. And with, say, 4 % growth this year, which is about what I expect that we're going to see, then there'll be so much activity that everybody's going to be able to find the job that wants one.

17:23Ben Meiselas:Donald Trump's Labor Secretary, Lori Chavez de Reimer, said the following.

17:27Donald Trump:Madam Secretary, 92 ,000 jobs out in February. Fewer jobs in health care, fewer jobs for information services because of AI. The weather hurt things, government employment down. If you add it all up, it doesn't look good for the Trump economy. Yeah, I couldn't agree with you. I think we have to address the fact that this is not a good report in its raw numbers. But we have to also talk about why this possibly has happened. This snapshot in time, it was mentioned, the weather. We saw health care numbers go down. We saw a record strike in California, over 30 ,000 jobs lost there. But that has been resolved.

18:09Donald Trump:So we're hoping to see those numbers tick back up next month. But overall, we've gained 60 ,000 new jobs over the last two months. So this is important for us to recognize what the message is here, what the noise is, and how focused the Labor Department is in making sure that we can bring back those jobs in construction, manufacturing. We're seeing the confidence go up. We've seen the investments that the president has made. I've said it over and over again. The president and I talk. We visit on this often. It's important to him. We're laser focused to make sure that we have that skilled workforce.

18:43Donald Trump:And it's just going to take some time. So we're recognizing what happened this month. and we're going to stay laser focused to bring those jobs numbers up.

18:51Ben Meiselas:More from Lori Chavez-Dorema right here. Let's play it. The midterms are about roughly nine months away.

18:57Donald Trump:How soon can we expect the jobs picture to pick up sharply more and more jobs coming into the economy? When are we going to see that? Well, I think we have seen that tick up a little bit. Again, this number in its raw numbers is not something we wanted to see. but overall we're still better than what we inherited from the Biden administration. So again, in the last two months, Stuart, 60 ,000 jobs have been created and we need to remind ourselves that I'm working with our community colleges and our tech schools and our private industries so that we recognize what the market demands are and get in that trained workforce as soon as possible.

19:35Ben Meiselas:Here's how they tried to cover it up on state regime media. It's what Maria Bartiroma said. here play this clip.

19:41Donald Trump:Cheryl, you've got to also counter in the fact that we had a horrible winter. Okay. The February storms cost a lot of issues. People did not want to leave. Maybe look at that for the retail sales. But even in January, you know, it was it was messy. As you heard from Jerry, it's always messy. It's the month after the holidays, people returning stuff, etc, etc. What else do you look at this morning, Cheryl, that's get that's informing? Well, the retail sales number that we got crossing along with the jobs report, I thought was very informative. 3.2 percent annual retail sales year over a year. Not just inflation, but that is a strong number.

20:19Donald Trump:You know, the unemployment rate, it's a little bit higher than it was over the last year. But historically, the unemployment rate in this country is at a very low level. And also, to your point about the weather, that was a factor in this report along with the strike in health care. And that was at the top of the government's list this morning when they released the report. It was the third line in that report. You know, they highlight this because they want to make sure that that matters.

20:43Ben Meiselas:And then the MAGA Republicans in Congress, like Mark Alford, is like, you know what? When you have this type of kinetic conflict, this is what happens. Buckle up. This is the sacrifice we need you to make if you're patriotic. Here, play this clip.

20:58Donald Trump:I think we all know that when you have a kinetic conflict like this, whether you want to call it a war or not, we are putting energy, resources, money into this. It is going to take a little bit of sacrifice on the part of Americans. There is a political component to this. We have the midterms coming up. The Democrats have tried to make it about affordability. That will certainly play into that. But I think the average American in my district understands the need

21:25Ben Meiselas:that we decapitate this terrorist regime and make sure it never grows ahead again. And then Treasury Secretary Scott Besson says, you know what we got to do here, which is going to be great? We got to help Russia out. Let's do more unsanctioning of Russian oil. We've already just unsanctioned Russian oil to India. Let's do more of that. Let's help Russia get really rich right now. while we beg Zelensky for help on how to knock down the Shahid drones. So let's screw over Zelensky, help Russia. Russia's allying with Iran to attack the United States and to give them coordinates. Let's help Russia.

22:05Ben Meiselas:What a brilliant regime this is, the Trump regime. Here, play this clip.

Read the full transcript

22:09Donald Trump:The Indians had been very good actors. We had asked them to stop buying sanctioned Russian oil this fall. They did. They were going to substitute it with U.S. oil. But to ease the temporary gap of oil around the world, we have given them permission to accept the Russian oil. We may unsanction other Russian oil. The other thing Treasury can do here, Larry, is there are hundreds of millions of sanctioned barrels of sanctioned crude on the water. And in essence, by unsanctioning them, Treasury can create supply. And we are looking at that. We're going to keep a cadence of announcing measures to bring relief to the market during this conflict.

23:00Donald Trump:There you have it, folks.

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From the publisher

MeidasTouch host Ben Meiselas reports on Donald Trump’s fatal economic error during the war that has caused disastrous economic consequences.

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