Trump Panics and Spirals in Morning Over Horrible News

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3:10Ben Meiselas:A clearly demented Donald Trump continues to spiral out of control on a disastrous Thursday morning for him, where we're getting news that jobless claims have now topped 1.1 million in 2025. That's right, 1.1 million job cuts. That's the most since really 2008 and right around COVID. Also, MAGA Mike Johnson's response to the horrific economy is, just be patient, relax. We've got it all under control. Just wait until next year. Let's get into what's going down right now. But first, I want to remind you, make sure you subscribe to the Midas Touch YouTube channel. As you know by now, this channel is under attack by Donald Trump.

3:58Ben Meiselas:He's been making social media posts about us and the interviews I've been doing this week. State regime media known as Fox is attacking us. We're on our way to 6 million subscribers. You may think you're subscribed, but you may not be subscribed. So help us reach that 6 million subscriber mark. Hit subscribe now. Here's what Donald Trump's posting this morning. I'm dealing with the poisoning of America. And he puts it all in caps with an exclamation point. Poisoning of America. Okay. I mean, dude, can you just act like a grownup and an adult for a moment? And then he goes, Turnberry in Scotland, number one rated in the world.

4:35Ben Meiselas:He's talking advertising for his golf course. Again, just grow up. The President of the United States, unfortunately, can you just behave for a single moment like a leader? No, he can't. And we're now learning about the classified briefing that took place between the admirals who was involved in the likely war crimes off the coast of Venezuela involving the individuals, the survivors who were killed on the fishing boat in the September 2nd strike. I believe the entire operation, by the way, is a war crime. But the ranking Democratic member right now of the House Foreign Relations Committee, Congress Member Himes, says the following.

5:19Ben Meiselas:Admiral Bradley and Joint Chiefs of Staff Chair Kane showed the video of what went down. The unedited video has now been seen. And here's what Democratic Congress Member Heim says, what I saw in that room was one of the most troubling things I've seen in my time in public service. You have two individuals in clear distress without any means of locomotion with a destroyed vessel who were killed by the United States. Here's Congressman Heim. Here, watch this. We don't, people will someday see this video and they will see that that video shows if you don't have the broader context, an attack on shipwrecked sailors.

6:04Ben Meiselas:Now, this comes at the same time where we got this latest job cuts report. And again, a lot of the data we get now comes from private sources because the Trump regime doesn't publish this data anymore. So here's what they were reporting about as well, more than 71 ,000 job cuts in November. Let's play this clip from Bloomberg Television. Right now, we are getting some economic data, and this to me really is going to be telling. Challenger coming out with their latest job cuts announcement, announcing more than 71 ,000 job cuts in November, bringing the year-to-date total to nearly 1.2 million in total, just to give you a sense of what the commentary is.

6:49Look, this is good news and this is bad news. On one hand, these are fewer layoffs than we saw in the prior reading. On the other hand, job cuts in November have risen above 70 ,000 only twice since 2008, in 2022 and in 2008. That is according to Andy Challenger, who is the chief revenue officer for this company. This to me is the concern. When you start talking, Anne-Marie, about analogs to 2008 and 2022, not a great look.

7:16Ben Meiselas:Now, here's how it was being reported on Fox. But then they say, well, this is a good thing. Let's tell you why 1.1 million job cuts up 54 % year over year. But Fox says, this could be a great thing for Donald Trump, right? Just like when they were saying that the bad economic indicators yesterday. That was also a good news for Donald Trump because that could mean more. It's 35 ,000 jobs in the private sector. plus. They go, interest rates can be cut. Anyway, here, play this clip. Employers have announced 1.1 million job cuts in the first 11 months of this year, which is a 54 % increase from the same timeframe last year.

8:00Job cuts though are down from October to November. This signifies the

8:05Ben Meiselas:cooling job market that we've seen for some time now, Stu, but it could be good news for the president. And here's how they were talking about it on Maria Bartiroma show. Like she couldn't even hide what bad news this is here let's play this clip port was a market mover okay usually challenging reports i don't think move markets but we've got another embargoed uh uh challenge report which is now off embargo and it says that job cuts surpassed one million right the highest october total since 2003. companies cite cost-cutting ai in october john this is exactly what i asked the president That's right.

8:41That's the problem. Not only were announced layoffs, I think now for the entire year, the highest level since 2020, that's a recession year. But announced hirings are also down considerably. That's not a good mix. And you have to worry about jobs growth. If you don't start growing payrolls, eventually that's going to hurt the growth of consumer incomes. And in turn, consumer spending will suffer. The other thing that I want to point out is a lot of these people that are losing jobs, because of AI, have white collar jobs. But as you noted, we have a lot of openings for people with skilled trades.

9:17How in the world are we going to get somebody who has a background in accounting, maybe finance, to consider becoming an auto mechanic? Or an electrician. By the way, that's one of President Trump's plans. He wants to encourage these trade schools. And this challenger report is for November. The U.S.-based employers announced 71 ,321 job cuts in November, up 24 % from the job cuts announced last year.

9:44Ben Meiselas:Now, one of the things that we're seeing as well with Trump's awful policies that are backfiring and blowing up in his face, companies across this country are struggling. For example, beer brands, just take a look at beer brands. Their sales are plunging based on the regime's mass deportation. Let's take a look here, play this clip. The Trump administration's mass deportation push is surprisingly taking a toll on beer. Sales for Constellation Brands, the U.S. owner of Modelo and Corona, have plunged, and its stock has dropped nearly 40 % this year, making it one of the worst performing companies on the S &P 500.

10:24Latinos make up roughly half of Constellation's customers, and we have seen and heard over and over again how Latinos are fearful and are not going out to stores, restaurants, and bars and the like, like they were due to the immigration blitz happening in cities across the country. There have also been, contributing to this, they believe, job cuts in industries with large immigrant workforces causing customers to pull back on spending. Other corporate giants are also hurting. Wingstop, Colgate-Palmolive, and PepsiCo have also reported sales declines at stores and restaurants in heavily Latino neighborhoods.

10:58Something.

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11:55Ben Meiselas:Visit donewithdebt.com. Donewithdebt.com. Front page of the Boston Globe right now. Rising health insurance costs take toll. Families, businesses are forced to make hard choices. Each time one of Tarama Modig's children needs a telehealth appointment, she boots up a fragile 13-year-old laptop and prays it'll hold the charge. Then, Moting is forced to fret over another concern, the cost of healthcare. The Fritchburg Public Schools employer and her husband pay more than$9 ,300 annually in health insurance premiums for their family of five. It's already a substantial chunk of their combined$160 ,000 income.

12:45Ben Meiselas:And now you're talking about increases by$4 ,000,$5 ,000 more on top of that. And they're making$160 ,000. Think about the person who's making$65 ,000 or less. We're$85 ,000 right now. $9 ,000,$10 ,000,$15 ,000. It is not affordable. And Trump ran on the lie on his fraud that he was going to make things much more affordable. And MAGA Mike and Trump said they were going to come out with a healthcare plan. Well, Trump said it during his first term. Give me two weeks. I need two more weeks. I need two more weeks. And MAGA Mike said, as soon as the government shutdown ends, we roll out our plan. There's no plan.

13:25Ben Meiselas:All this regime does is psychologically torture we the people. They're psychological. They're abusers. Take a look at real wages after inflation. They were growing at 2 % last year. Now it's 0.8%. Again, clearly playing into what a majority of American households define as an affordability crisis. Now, here was the quote from MAGA Mike Johnson that Melanie Zenona got. She asked MAGA Mike Johnson, are the Republicans doing enough to address affordability concerns? MAGA Mike said, people will start feeling relief next year when the budget bill provisions kick in, what they call the beautiful bill, which I call the disastrous bill.

14:07Ben Meiselas:Relax, says MAGA Mike. We're exactly on the trajectory where we've always planned to be. Steady at the wheel, everybody. It's going to be fine. Our best days are ahead of us. Okay, Mega Mike, this as Sean Duffy, the transportation secretary, he's got some ideas that he was talking about this morning. And he talks about slashing Biden's fuel economy standards and past fuel economy standards. And he goes, look, what we need to do is go back to the time where there were 1970s station wagons. Here, play this clip. And also, I think if you're building a car, developing a car that Joe Biden or Pete Buttigieg wanted you to build, that's different than market demand.

14:53I want the market to decide what kind of EV I should offer, what kind of vehicles do the American consumers want to buy. This rule will actually allow you to bring back the 1970s station wagon. Maybe a little wood paneling on the side, Phil. We can bring back toys to consumers. So yeah, the minivan's awesome, but maybe the station wagon is cool too.

15:13Ben Meiselas:But the average price. Okay, this is just institutional regression masquerading as consumer protection. I think Carl Quintanilla framed it that way. It is institutional regression. That's not consumer protection. There's a reason why we have things like seatbelts and better standards, and we've moved in the right direction. As Fred Wellman, who's running for Congress said, Why are they obsessed with a past that we happily left behind? Does anyone fantasize about descending through the orange cloud of poison over their city? What does fuel efficiency have to do with outdated styles? We have minivans with 4K theaters in the back.

15:52Ben Meiselas:What are we talking about here? Now, I just want to show you this. This is a MAGA Republican Congress member on the Foreign Services Committee, Mike Turner. Here's what he had to say. Play this clip. But this is about, by the way, this is about the war crimes being committed off the coast of Venezuela. Play this clip. So there's very much concerns where we all go back to the issue of the intelligence and what intelligence is being used. What do we really know about these individuals? What do we know about this cargo? What do we know about the communications here? And quite frankly, many members have very much concerns as to whether or not the accuracy of what information is being used is to the level for us to even know what's happening in this area.

16:33And the members are very concerned.

16:36Ben Meiselas:But MAGA and Napoleon Luna says Trump's just doing what Obama did. Obama was blowing up these fishing boats off Venezuela too. So Obama, Obama, Obama. Here, play this clip. For any of these people, I don't care if they're Democrats or not, but are they super critical of President Obama when he did the same thing? The fact is, is that for the most part, to my knowledge, since I've really been alive, which has been, you know, for 36 years, There's been many presidents who have used this authority and it hasn't been a big deal. I do understand, though, that it might be shocking for people to see footage of narco terrorists being blown out of the water.

17:12But I would argue that maybe those people need to go into inner city Chicago. Maybe they need to check out Skid Row and see what happens when you have people injecting themselves with drugs or see what happens to the families in this country that have to deal with children that are ODing. So I have no sympathy for those people that are choosing to traffic drugs into this country. And I definitely don't have any sympathy for the fact that these terrorist networks are responsible for destabilizing and causing mass atrocities in part of these countries in South America, of which I've traveled to.

17:38I have seen the mass graves and the footage of mass graves that are responsible and funded largely by these terrorist networks. So, no, I don't have sympathy. This is called governing. And we are going to do what we need to do to keep the American people safe.

17:50Ben Meiselas:Lastly, I think this is a media. I did this opinion piece and it's so right. And I saw the New York Times talk about this as well in this way. Trump's hateful Oval Office rant about Somali immigrants shines a harsh light on the cowardice of his cronies. What did the group of little more than a dozen people around Trump do when he made these comments saying that Somalian people are garbage? That's what Trump said. The Somalians, he said they're bad people, Somalians. They're garbage people. Pretty much nothing is what the people did around him. Actually, it was nothing. Just crickets, frozen smiles, and laughs.

18:29Ben Meiselas:That's the thing. So many people who are complicit in this moment, who have remained silent, who have aided and abetted, and who treat this stuff like it's funny. It's hateful. It's racist. It's disgusting human behavior. Setting aside your politics, it's disgusting human behavior that's taking place in the Oval Office. From the war crimes, the fraud, the hateful rhetoric, the invasions of cities with Gestapo, the putting people in concentration camps, it's grotesque from a grotesque individual like Donald Trump. Let me know what you think. Hit subscribe. Let's get to 6 million. Thanks for watching.

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