Brian Deese, a former economic advisor to Presidents Obama and Biden, joins the discussion to illuminate the economic fallout from Trump's trade war and its implications. The talk dives into Elon Musk's controversial ascendancy within the government, skewering the chaotic grip inexperienced tech leaders may have on key economic systems. They explore how tariff decisions impact international relations with Canada and Mexico, raising concerns about potential economic crises that could reshape American politics over the next four years.
Elon Musk and inexperienced engineers have taken significant control of government functions, potentially endangering essential agencies like USAID and the CFPB.
The looming trade war, postponed by Trump, raises concerns about rising prices for consumers on essential goods and international relations.
Democratic pushback against escalating power dynamics emphasizes the uncertainty of whether it will adequately counteract Trump's and Musk's influence.
Deep dives
The Importance of Home Security
Home security is essential for ensuring the safety and well-being of families. Systems like SimpliSafe are highlighted for their ease of use, customizability, and effective protection against potential threats. Unlike traditional systems that react after a break-in, SimpliSafe's proactive measures can prevent intrusions before they occur. Their Active Guard Outdoor Protection allows for real-time monitoring and intervention, enhancing the overall security experience.
Ted Danson’s New Podcast
Ted Danson has launched a podcast titled 'Where Everybody Knows Your Name,' aimed at reconnecting with his 'Cheers' co-star Woody Harrelson while introducing them to new friends. This informal discussion platform features various celebrity guests, such as Jane Fonda and Flea from the Red Hot Chili Peppers. The podcast serves as a nostalgic reunion for the duo and offers listeners a chance to feel included in their conversations. Fans of the original 'Cheers' series may find this new venture particularly enjoyable.
Political Landscape and Trade Wars
Recent discussions within the political sphere express concerns about the increasing consolidation of power by figures like Donald Trump and Elon Musk. Their actions include threatening tariffs on imports, which could disrupt international relationships and the economy. The implications of these trade wars raise alarms about potential retaliatory measures from affected countries and the long-term consequences for U.S. credibility on the global stage. Analysts emphasize the importance of maintaining relationships with allies and caution against reckless economic strategies.
Impact of Tariffs on Consumer Goods
Proposed tariffs could significantly increase prices on essential consumer goods, affecting everyday items like groceries and electronics. For instance, estimates suggest that average households could face steep price hikes, with essential items like fruits, vegetables, and gasoline being particularly impacted. This increase stems from the nature of tariffs, where importers and competitors adjust their prices in response to new costs. As a result, consumers will ultimately bear the financial burden of these tariffs.
The Interconnected Nature of Trade Relations
The intricate web of trade relations, particularly in industries such as automotive, is at risk due to proposed tariffs and trade wars. A significant portion of auto components is sourced from Canada and Mexico, and disruptions could hinder production and innovation. Businesses are grappling with uncertainty, as the tariff landscape creates unpredictable conditions for imports and exports. This instability poses threats not just to the automotive industry, but to wider economic performance and job security.
Trade Policy: A Call for Strategic Action
Effective trade policy must balance assertiveness with strategic interests to protect American jobs and industries. There is a recognized need for a clear differentiation between adversarial regimes, such as China, and allies like Canada and Mexico when navigating tariffs and trade agreements. The importance of national security and economic stability should guide discussions about tariffs and international relationships. A comprehensive approach that considers long-term benefits over short-term political gains may ultimately lead to a more sustainable economic future.
With Donald Trump's blessing, Elon Musk and a small crew of inexperienced software engineers take near full control of the government, moving to shut down USAID and the Consumer Financial Protection Bureau, and taking control of a critical payment system at the Treasury Department. Trump delays his trade war with Canada and Mexico by a month after securing minor concessions that were probably already in the works. Meanwhile, congressional Democrats begin to push back harder—though whether it'll be enough is still an open question. Jon, Lovett, and Tommy break down all the latest, and Lovett speaks with former Obama and Biden economic adviser Brian Deese about just how bad things could get if a real trade war kicks off over the next four years.
For a closed-captioned version of this episode, click here. For a transcript of this episode, please email transcripts@crooked.com and include the name of the podcast.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
