Matt Yglesias on Trump's Bold Vision for America: Higher Prices!
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- เผยแพร่เมื่อ 20 มิ.ย. 2024
- Donald Trump has made inflation a central part of his campaign message. At his rallies, he rails against “the Biden inflation tax” and “crooked Joe’s inflation nightmare,” and promises that in a second Trump term, “inflation will be in full retreat.”
But if you look at Trump’s actual policies, that wouldn’t be the case at all. Trump has a bold, ambitious agenda to make prices much, much higher. He’s proposing a 10 percent tariff on imported goods, and a 60 percent tariff on products from China. He wants to deport huge numbers of immigrants. And he’s made it clear that he’d like to replace the Federal Reserve chair with someone more willing to take orders from him. It’s almost unimaginable to me that you would run on this agenda at a time when Americans are so mad about high prices. But I don’t think people really know that’s what Trump is vowing to do.
So to drill into the weeds of Trump’s plans, I decided to call up an old friend. Matt Yglesias is a Bloomberg Opinion columnist and the author of the Slow Boring (www.slowboring.com/) newsletter, where he’s been writing a lot about Trump’s proposals. We also used to host a policy podcast together, “The Weeds.”
In this conversation, we discuss what would happen to the economy, especially in terms of inflation, if Trump actually did what he says he wants to do; what we can learn from how Trump managed the economy in his first term; and why more people aren’t sounding the alarm.
Mentioned:
“Trump’s new economic plan is terrible (www.slowboring.com/p/trumps-n...) ” by Matthew Yglesias
“Never mind: Wall Street titans shake off qualms and embrace Trump (www.politico.com/news/2024/06...) ” by Sam Sutton
“How Far Trump Would Go (time.com/6972021/donald-trump...) ” by Eric Cortellessa
Book Recommendations:
Take Back the Game (www.penguinrandomhouse.com/bo...) by Linda Flanagan
1177 B.C. (press.princeton.edu/books/pap...) by Eric H. Cline
The Rise of the G.I. Army, 1940-1941 (groveatlantic.com/book/the-ri...) by Paul Dickson
Thoughts? Guest suggestions? Email us at ezrakleinshow@nytimes.com.
You can find transcripts (posted midday) and more episodes of “The Ezra Klein Show” at nytimes.com/ezra-klein-podcast (www.nytimes.com/column/ezra-k...) . Book recommendations from all our guests are listed at www.nytimes.com/article/ezra-... (www.nytimes.com/article/ezra-...) .
This episode of “The Ezra Klein Show” was produced by Rollin Hu. Fact-checking by Kate Sinclair and Mary Marge Locker. Mixing by Isaac Jones, with Aman Sahota. Our senior editor is Claire Gordon. The show’s production team also includes Annie Galvin, Elias Isquith and Kristin Lin. Original music by Isaac Jones. Audience strategy by Kristina Samulewski and Shannon Busta. The executive producer of New York Times Opinion Audio is Annie-Rose Strasser. Special thanks to Sonia Herrero, Adam Posen and Michael Strain.
You must have gotten your economic knowledge out a Crackerjack box.
I remember mean tweets and $2.00 a gallon gas under Trump. When can we get that back?
I’d like to think these people realize that they can’t pull a fast one over us anymore. We’re sick of your BS rhetoric and lies. Trump 2024 🇺🇸
@@commodoresixfour7478gas was under $2 because of the pandemic. Or didn't you know that
@@commodoresixfour7478Another pandemic will do it! 🤣😂🤣🤣
Trump wants to put a 10% tariff in Imports, so you can expect everything to cost drastically more.
This is BS and lies.
This is fruitcake propaganda. Shame on u sir!
Thanks for reminding me that you guys believe we are stupid.
Wow,you must think Bidens prices are okay.
This dude wants to get rid of incom tax and replace it with tariffs. Let that sink in. Nope.
@@stilllearning6958 It's a great idea if it will work !
@johncross5534 So, were you planning a trip to explore moving to N. Korea?
"BUTT mah Russia and putler tho!"
- ezra
@@stilllearning6958 The US government was funded by tariffs a century ago and it took a constitutional amendment to enable income taxes of 1%.
Within 50 years income taxes reached 90% until Reagan cut taxes in the 1980s
Really? Because prices were significantly lower under Trump.
From the Obama economy... Then Trump destroyed everything.
Thank Obama
@@HTub-bo2yl lmao right
@@HTub-bo2ylwhat exactly did obama do? I want to be as educated as you are sir.
@@HTub-bo2ylWhen gas topped $5 a gallon Oduma said it's still relatively cheap if you look at the EU where it's 7 or 8 a litter gas prices & the economy will never ever again flourish as it did in the 90's due to globalization, that's a fact. Like it or not, that's just how it is. Oduma's arrogant cocky ass speaking with disdain for the American people 😡
Trump proved his Kenyan ass wrong
The soy is strong with this one.
He1sGheyyyyy.
😂😂😂
Shame on You.
Trump won't raise prices. If anything, he will bring prices down.
Presidents don't bring prices down or up
@@jimmyjam5453 If they put tariffs on all goods coming into the county, prices will go up. Guess who wants to do that? trump. He will raise prices for everyone.
@@jimmyjam5453 their policies do. Day one Biden shut down the keystone pipeline. That raised the prices of fuel which causes the price of goods being delivered by semi trucks . Did you think paying 5.00 per gallon for diesel and it not affect the price of everything else.
@@scottyjordan9023He also opened the border and let ten million people in, that’s not cheap.
@@jimmyjam5453Gas, food and housing way cheaper under Trump. I know because I work for a living.
Ezra you see such a cult member.
So according to this pundit, we should vote for Biden because Biden will keep prices and inflation down...lol
Over my dead body will I vote for crooked Biden.
😂
😂😂😂
Must be Opposite Day.
This is HILARIOUS!!!! If anyone believes this nonsense you’re lost.
Shana Gray didn’t even open her restaurant until August 2023. Maybe vet stories like that before they’re featured as true.
Of course, he already governed and prices were lower. Nice try.
I will have to come back here in 5 or 6 years and respond again
Same ol propaganda! So tired of it!
This is propaganda.
Should be a crime to lie
Especially for journalists. They have divided this nation more than any Prez ever could.
@@melissadeloach8503 That's the truth.
Trump would get life in prison he lied every time he opens his mouth
This is terrible this guy is nuts!
This guy forgets that everyone made it hard for Trump to work.
And by your logic, what maga is doing to Biden is different, how?
@@stilllearning6958So 1 party can attack (for all 4 years) the other side and not expect retaliation?
Facts
Yes, including Democrat propaganda fake media like the New York Times
@easyon31 When a cult leader takes over all three pillars of our government, abso•fucking•lutely. I don't care if you're right, left, center, red, green, or blue, vegan, steak, or seafood eater. If you support the Constitution, you can NOT support Drumpf. They are at direct opposites to each other.
How about no wars and Abraham Accord.
When trump was president, there was a war going on in Afghanistan.
Tried and true
You're long-winded and lack depth.
Under Trump Gas was 1.87
Under biden it's 3.59
NYT: REEEEEEEEEEEEEEE ORANGE MAN
Supply and demand made gas cheap. trumps mismanagement of the pandemic crashed this countrys economy. He closed the entire country down.People weren't driving to work anymore.They weren't driving anywhere anymore. But yea trump, low gas prices LO.L.
NO ONE WAS DRIVING
It's called a worldwide pandemic... Lockdown nobody was driving anywhere prices dropped.
Why was toilet paper and paper towels so expensive under Trump. Trump toilet paper 40.34, under Biden toilet paper 12.83.
@@jimmyjam5453 because Democrats illegally and nonsensically shut down the country, so it was hard to get toilet paper 😂
TRUMP 2024
Ya buddy!
Heck yeah 👍🏻
Count me in too!!!!
Bring back Mean Tweets and $2 gas go Trump!
Jerry Springer trash.
Everything was better under President Donald J trump!
Like what The stock market?
@@jimmyjam5453if you paid your own bills you’d know. Stop gaslighting the working man who pays taxes.
astronomically! TRUMP 2024!!!🇺🇸🦅
He turned me into a believer... bring back mean tweets and a good foreign policy
@@az-yk4pb what foreign policy?
This show is just completely reminds me why we are where we are today as a nation.
I went to buy some ribs the other day that I had purchased a year earlier at this one particular store. The ribs were 100% more costly! That is what has happened under Joe Biden's presidency!
Trump is not the problem.
Now that’s strange. I live in a red state and prices are down. Bought baby back ribs and they were way down!
Biden isn't the problem. CEOs giving themselves multi million dollar bonuses are.
@@DiameraldBULL SHIT biden has caused EVERYTHING TO SKY ROCKET. Tar and feather the shit ass.👍👍👍
all the grazing land in texas burnt up😱
Trump got opposition from even within his own party. If he wouldnt been treatly even remotely fairly or supportive wed be way better off today. I wish the NY Times didnt destroy their reputation like they did trying to be never trumpers. Just like i wish biden succeeded(he didnt, hes a disaster) i too want trump to succeed. It affects all of us
Trum2024
We were trying to warn you of his ultimate outcome. He has always been a criminal and will always be a criminal.
Trump got opposition because he was committing crimes.
Don't you want Biden to succeed?
@@DonaldJohn-dh7xx hell yeah I do. I said that in my comment, sadly he was not the right man for the job and has been a disaster. He's the pilot of the plane we're forced to fly on. I'll never forget when Bill Maher and other Democrats wanted a recession under trump because they hated him so much(Google it if you don't believe me). That's the level of absolute trash that guy got for his entire term. I didn't even vote for him the first time I've been a Democrat since Obama's first term but I still wanted him to do good. Turns out he was a pretty damn good president. Democrats lost their way and are doing some really strange stuff like trying to remove someone from a ballot and trying to jail their opponent all while screaming from the rooftop that person is the threat to democracy. They lost me and I won't be looking back for a while. I think if most people got out of their feelings and voted with some logic they wouldn't even consider Biden. His history alone and voting record made me almost smack my head in 2020 like why in the hell did the Dems put this guy up, he is and always been just a bad guy
Prices are high now!! Stop blaming Trump
You are talking BS. You should be ashamed of yourself.
Cute, calling it "Trumps plan" 🤣 you guys suck at everything 😂
Trump 2024!!!!!!!!!!
Higher than what I'm paying at the gas pump and for groceries now under Biden?
How much are you paying for your toilet paper now? You should be saving about $300 a month.
Comparing Biden’s term to Trump’s term….I’ll take Trump
Trump coasted 2 years off of Obama's economy.... Then failed.
🤔🤦🏻♀️🤡🤡🤡🤡🤡
TRUMP 2024
LIES, LIES AND MORE LIES.
Biden brings record inflation, doubles home prices and the New York times presents this headline 🤣 These people are gone
If home values doubled that means the net worth of Americans went up..🇺🇲🇺🇲🇺🇲
@@jimmyjam5453 oops, property taxes would like a word lol
That just means people who were looking to become home owners can't, Biden has turned young people into permanent renter's.@@jimmyjam5453
@@jimmyjam5453Unless you don't own a house but are looking to buy one which will never happen in the economy.😂😂😂
Nice try at bending reality there Libs!
Lies
Why would you say something so ignorant 4 years ago when he talked about the tariffs and yet to no avail. Why can't you people just tell the truth? Have you no conscience?
This guy his an a s h
You sound insane 😅😅😅😂😂😂😂
Of course you were in Park Slope, Brooklyn. That’s exactly where you would be. I live in Brooklyn too. The rest of blue collar Brooklyn is voting for Trump. Nobody talks about that in NYC.
liar
But I thought the president doesn't control the prices? 🤔🤔🤔🤔
The President does not control prices. However he and his party can create a mood and increase cost through changes in regulation, etc..
@@WmJames-rx8go So biden is to blame for our current shit show
You don't know what you're talking about we were better off 4 years ago then we are today president Trump will bring us back where we were and you can preach about him all you want but the American people know the truth they are tired of doing without while the rich gets richer and the poor gets poorer
Trump 2024
Stop all your lies abour trump
Listened to about 30 seconds, then went to the comments. I’ll trust the consensus and say Ezra must be doing his version of a KJP impersonation. IOW… this piece must be propagandized 🐂💩 unsupported by hard facts. FJB
You should probably listen to the whole thing and form your own opinion?
I don’t fw Biden or Trump… because both of them are not great choices. And I don’t blindly follow anything.
KJP impersonation 😂 ❤👍 all he's missing is the hair. Can't tell whether he's batting his eyes or not.
Trump 2024🇺🇸🇺🇸🇺🇸🇺🇸
Trump jail 2024🇺🇲🇺🇲🇺🇲🇺🇲
@@jimmyjam5453Ok Boris
IGNORANT
This is steeped in bias and should not be called journalism!
You guys are crazy the prices have gone sky high in the last 4 years
Ezra for a stay in a mental institution!
Fake news
So Sir you think that giving money to illegals and Ukrainian and paying off Students debts are better....
You're not gonna stop him from ordering from Temu on pennies.
So why was inflation so low during trumps administration then since he was such a nut
Because that was in the past & companies learned what they could and could not get away with.
@@user-js9dq4we4j Actually it's not inflation the dollar is worth less because of excess money printing by a government to cover spending it couldn't pay for.
@@user-js9dq4we4j How about this idea? Empires and Kingdoms have spent more than theyve taken in since history began. They have two ways to get out of it. Raise taxes or debase the currency, ie print money, or mix copper with the silver. Look at your quarter dollar sometime. The Romans did that too. Nothing new under the sun
COVID
@@7142320 good point. We printed all that $ but people spend it on rent and cars not consumer goods e.g phones, computers, game consoles. People are isolated and poor they spend $ on basics like rent. And if everyone is sick? You can run the economy into the ground
Interest rates will rise. We are not even close.
😂😂😂 fake news
Deluded by TDS!!!
Um no we are experiencing high prices now under Brandon! FJB
Why does this guy sound so much like Hugo from Bobs Burgers without sounding like Sam Seder?
Trump! Trump! Trump!Trump!Trump 2024 🎉🎉🎉
Lock him up Lock him up Lock him up🎉🎉🎉🇺🇲🇺🇲🇺🇲
BS
We want real accountability. Call it revenge if you're guilty.
New York Times, LOL! That's all we need to know.
TRUMP 2024🇺🇸🇺🇸🇺🇸🇺🇸
The Greatest President Ever!!!!
Nonsense
Nobody believes what you say
Lol, only seconds into the podcast and I'm thinking, "Evidently Ezra Klein doesn't remember either". That inflation he's talking about was well underway by the end of the Trump presidency, because the pandemic was the start of it.
He knows he just assumes we don’t know. We know!
Sorry. Had cheaper prices under President Trump. Biden extreme prices kicked in on day one.
Oh what a load of b.s now i know what not to listen too.
This is HILARIOUS!!
Uhh.... higher prices is what biden already did. Lower prices is what trunp already did....
CEOs want a bigger % of the pie. They don't care if the pie is smaller, they've got more than they could possibly spend anyway. It's about bragging rights and lording it over the proles.
Make yr own pie. Share it anyway you like.
Forget Everything else. How bout No Freakin Wars!!! Trump 2024🇺🇲
Amen
Remember Afghanistan?
“The party told you to reject the evidence of your eyes and ears. It was their final, most essential command...”
Mr Klein needs to live our lower class
What people dont remember?
prison planet america.
I read the comments. Does anybody like this guy? What a joke don’t quit your day job that’s for sure. lol
COMPLETELY CRAPOLLA
Say no to creepy joe and heels up harris
A letter signed by 16 top economists, reminds me of the letter signed by 51 intelligence officers. This administration is a joke.
Your glasses are bigger than your brai 😂🇺🇸🇺🇸🇺🇸
at least 100 times😂
I remember when!!
He's WACKEDllll
Tarrifs are not paid by the manufacturer or the Country they are manufacturered in. They are not paid by the exporter or the shipping company. They are ADDED to the cost the importer pays, included in the cost the wholesaler pays, included in the cost the retailer pays, and in the end, paid by the Consumer.
Tarrifs are nothing but a Federal Sales Tax.
True definition , yr pt however is missin.
Nope. You're falsely assuming that there is no domestic competition for the goods being tariffed. Most of the time their is domestic competition and this usually does cause the foreign businesses to lower their prices to compete in face of tariffs. Ergo, the whole tariff cost is almost never fully paid by the consumer. Also: you're missing the entire point of tariffs. --Geostrategy.
@@kreek22wrong... Foreign business won't lower their prices because even at a higher price point they are almost always still much cheaper than US like goods.
Don't we really just need more immigration judges/lawyers to process many (not all but alot) of them in weeks not years. Im sure when they get back home they'll tell everyone what's up now.
Are you insane?
Trump 2024
Up yours!
This channel is a joke!
The first sentence he spoke sounded like bs....I'm out. God bless this guy in the name of Jesus Christ.
I wish I could see the number of thumbs done. I suspect they are higher than the thumbs up. Ratio.
Who's this guy he hasn't gotten one thing right yet
So just gonna ignore the fact that under the current president, weve seen +100% increases in price for almost every good and service?
Lmao. Lie more, maybe it will work next time.
That's false.
@@jimmyjam5453 it's ok, you don't buy your own groceries or have a working budget. Not too surprised you are this clueless.
@@helixwash4508 milk $3 a gallon.... Eggs 2.75 for 18, gas under 2.98 a gallon. Equity in my home has gone up greatly. I guess you're not seeing the real world.
@@jimmyjam5453inflation at an all time high. Now who's living in a fantasy land. It progressively got worse when Geezer Joe took office.
Trump met the famous father of modern American suburbia, William Levitt,now aged and bankrupt, and asked him what happened. "Donald," he said,"I've lost my momentum." Trump remarks,"You have to know whether or not you have the momentum, and if you don't...." What you say about how Trump has not updated his policies to fit today's issues makes me think he--like Levitt--has lost his momentum.
"Elite opinion leaders and policymakers must stop demonizing all critics of open-borders immigration policies as racists and xenophobes. They must face the fact that, in many cases, businesses do in fact favor immigrants over native-born Americans, especially blacks, based on differences in worker quality, whether actual or perceived. They should consider whether unrestricted immigration has contributed to making native-born workers less competitive."
"Opinion leaders should also abandon the demoralizing and ill-conceived mentality that regards most young people as potentially college-ready, treats lack of higher education as an unfortunate failure requiring societal correction, and sees joining the cognitive elite as the ultimate hallmark of a decent and worthy life. The country’s education policies should therefore emphasize job preparedness and vocational training. Germany, Holland, and northern European countries provide worthy models, with the majority of high school graduates enrolled in job-linked programs."
"Relatedly, a renewed cultural emphasis on recognizing the dignity of work of any and all kinds, whether career-oriented or not, with a moratorium on talk of “dead-end jobs,” would be desirable. Male idleness should be re-stigmatized, and the expectation that all able-bodied men as well as women will contribute to self-support should be given renewed emphasis. It is also important to stress that the government is not and cannot be the guarantor of “good jobs.” Rather, such jobs are mostly the product of private enterprise, which depends on workers equipped, ready, and able to provide the goods and services that people actually desire."
"The leadership class should furthermore rethink its uncritical invocation of the category of “jobs Americans won’t do.” Workers with limited education and few skills should be urged and expected to take the jobs that are actually available and that immigrants are currently performing, especially as part of the quid pro quo for lower and slower rates of immigration that many ordinary Americans would welcome. That tack depends on accepting the inconvenient fact that too many Americans-including an increasing number of high school graduates-are not presently equipped, whether due to paucity of skills, poor work habits, drug use or addiction, or other causes, for many of the more lucrative jobs available in the economy. Indeed, for many of the same reasons, they are barely able to meet the basic requirements for any job. Finally, opinion leaders should stop looking askance at “America First.” Indeed, they should embrace it. The well-being of Americans outside the college-educated class should be placed front and center and our national priorities reordered to turn our full attention to our fellow citizens from all races and backgrounds. In the name of reintegrating this population, we should turn away from replacing them. Rather, we should seek to understand and support restrictions on, and restructuring of, immigration laws to honor citizens’ economic well-being as well as their legitimate interest in familiar communities and cultural stability."
"Low-Skill Immigration: A Case for Restriction" by Amy Wax
American Affairs Journal Vol.I No.4 (Winter 2017)
americanaffairsjournal.org/2017/11/low-skill-immigration-case-restriction
Bravo!
Familiar communities... that's straight up facism
25:37 - When all prices rise, that is textbook inflation. When only some prices rise that is profit taking
Wrong.
The price of toilet paper is much cheaper. The price of batteries are much cheaper.
Pretending like Biden isn’t the problem is hilarious.
He's not the problem. Fox News and other stupid people are the problem.