<description>Donald Trump's tariffs are part of a class war against many of his own supporters. The US president plans to slash income taxes on the rich and corporations and use tariffs to shift the burden of taxation onto the poor and working class. Radhika Desai is joined by economist Michael Hudson to discuss.

VIDEO: https://www.youtube.com/watch?v=ms_7EkiJbGo

This is part of the program Geopolitical Economy Hour. You can watch other episodes of the show here: https://youtube.com/playlist?list=PLDAi0NdlN8hMl9DkPLikDDGccibhYHnDP</description>

Donald Trump's tariffs are part of a class war ag…

Donald Trump's tariffs are part of a class war against many of his own supporters. The US president plans to slash income taxes on the rich and corporations and use tariffs to shift the burden of taxation onto the poor and working class. Radhika Desai is joined by economist Michael Hudson to discuss.

VIDEO: https://www.youtube.com/watch?v=ms_7EkiJbGo

This is part of the program Geopolitical Economy Hour. You can watch other episodes of the show here: https://youtube.com/playlist?list=PLDAi0NdlN8hMl9DkPLikDDGccibhYHnDP

Trump's tariffs are part of a class war on his own base

<description>In what he called "Liberation Day", Donald Trump imposed heavy tariffs on countries around the world, falsely claiming they were "reciprocal". In reality, the taxes on imports were based on the US trade deficit with other nations. Ben Norton explains how the Trump administration's economic policies are contradictory and will backfire hard on the US economy, fueling inflation while failing to re-industrialize.

VIDEO: https://www.youtube.com/watch?v=nv5ZkxQvsz8

Topics
0:00 Trump imposes heavy tariffs
0:27 (CLIP) Trump's "Liberation Day"
0:52 Trump's global trade war
1:18 (CLIP) Tariff is most beautiful world
1:41 New tariff rates
3:20 Backfiring
4:04 How the tariffs were calculated
7:08 Retaliation
8:45 Role of US dollar dominance
9:30 (CLIP) Trump on de-dollarization
9:48 (CLIP) Trump threatens BRICS
10:17 US balance of payments
12:37 Alternative to US dollar
13:14 Dumbest trade war in history
13:42 Reindustrialization
14:32 Financialization
17:53 Inflation
20:00 Coffee, fruit, &amp; vegetables
22:06 Imports from China
24:02 Imports from Vietnam
25:26 Imports of electronics
27:51 Industrial policy
33:41 Moving tax burden from rich to poor
37:02 Outro</description>

In what he called "Liberation Day", Donald Trump …

In what he called "Liberation Day", Donald Trump imposed heavy tariffs on countries around the world, falsely claiming they were "reciprocal". In reality, the taxes on imports were based on the US trade deficit with other nations. Ben Norton explains how the Trump administration's economic policies are contradictory and will backfire hard on the US economy, fueling inflation while failing to re-industrialize.

VIDEO: https://www.youtube.com/watch?v=nv5ZkxQvsz8

Topics
0:00 Trump imposes heavy tariffs
0:27 (CLIP) Trump's "Liberation Day"
0:52 Trump's global trade war
1:18 (CLIP) Tariff is most beautiful world
1:41 New tariff rates
3:20 Backfiring
4:04 How the tariffs were calculated
7:08 Retaliation
8:45 Role of US dollar dominance
9:30 (CLIP) Trump on de-dollarization
9:48 (CLIP) Trump threatens BRICS
10:17 US balance of payments
12:37 Alternative to US dollar
13:14 Dumbest trade war in history
13:42 Reindustrialization
14:32 Financialization
17:53 Inflation
20:00 Coffee, fruit, & vegetables
22:06 Imports from China
24:02 Imports from Vietnam
25:26 Imports of electronics
27:51 Industrial policy
33:41 Moving tax burden from rich to poor
37:02 Outro

Trump's tariffs make no sense, and will backfire hard on the US economy

<description>US Treasury Secretary Scott Bessent, a billionaire hedge fund manager who worked for George Soros, insists, “Access to cheap goods is not the essence of the American dream”. The Donald Trump administration knows its tariffs will result in higher inflation. Products will become more expensive as the US tries to economically decouple from China. Ben Norton explains.

VIDEO: https://www.youtube.com/watch?v=8DOCZjS_MVc

Topics
0:00 Inflation is coming back
0:41 US Treasury Secretary Scott Bessent
1:57 Billionaires
2:34 (CLIP) Bessent: no more cheap goods
2:49 Stagnant real wages
3:54 How China exported deflation
6:20 Myth of the "American Dream"
6:55 End of income mobility in USA
8:04 US life expectancy falls
9:13 Trump's billionaire-filled administration
9:39 Inflation rises
10:11 Richest 10% drive US economy
11:07 Corruption
11:35 Scapegoating
12:15 Recession risks
13:39 Housing is unaffordable 
15:40 Elon Musk
16:13 Blackstone
17:13 Fake populism
18:00 Outro</description>

US Treasury Secretary Scott Bessent, a billionair…

US Treasury Secretary Scott Bessent, a billionaire hedge fund manager who worked for George Soros, insists, “Access to cheap goods is not the essence of the American dream”. The Donald Trump administration knows its tariffs will result in higher inflation. Products will become more expensive as the US tries to economically decouple from China. Ben Norton explains.

VIDEO: https://www.youtube.com/watch?v=8DOCZjS_MVc

Topics
0:00 Inflation is coming back
0:41 US Treasury Secretary Scott Bessent
1:57 Billionaires
2:34 (CLIP) Bessent: no more cheap goods
2:49 Stagnant real wages
3:54 How China exported deflation
6:20 Myth of the "American Dream"
6:55 End of income mobility in USA
8:04 US life expectancy falls
9:13 Trump's billionaire-filled administration
9:39 Inflation rises
10:11 Richest 10% drive US economy
11:07 Corruption
11:35 Scapegoating
12:15 Recession risks
13:39 Housing is unaffordable 
15:40 Elon Musk
16:13 Blackstone
17:13 Fake populism
18:00 Outro

Trump admin tells Americans: Stop expecting cheap products, inflation is here to stay

<description>How is the US impacting Canada's elections, as Donald Trump imposes tariffs and even threatens to annex the country? Who is the banker turned Canadian Prime Minister Mark Carney? To discuss, political economist Radhika Desai is joined by Dimitri Lascaris, host of the independent media outlet Reason2Resist.

VIDEO: https://www.youtube.com/watch?v=fZweNi7ycKM

You can follow Dimitri Lascaris' channel here: https://www.youtube.com/@reason2resist

This is part of the program Geopolitical Economy Hour. You can watch other episodes of the show here: https://youtube.com/playlist?list=PLDAi0NdlN8hMl9DkPLikDDGccibhYHnDP</description>

How is the US impacting Canada's elections, as Do…

How is the US impacting Canada's elections, as Donald Trump imposes tariffs and even threatens to annex the country? Who is the banker turned Canadian Prime Minister Mark Carney? To discuss, political economist Radhika Desai is joined by Dimitri Lascaris, host of the independent media outlet Reason2Resist.

VIDEO: https://www.youtube.com/watch?v=fZweNi7ycKM

You can follow Dimitri Lascaris' channel here: https://www.youtube.com/@reason2resist

This is part of the program Geopolitical Economy Hour. You can watch other episodes of the show here: https://youtube.com/playlist?list=PLDAi0NdlN8hMl9DkPLikDDGccibhYHnDP

Canada's Trump election: Sleazy politics amid US tariffs & annexation threats

<description>Donald Trump is portrayed as a "populist" committed to average working-class people, but his policies benefit wealthy elites at the expense of everyone else. His administration includes 13 billionaires -- including Elon Musk, the world's richest oligarch -- and he is cutting taxes on the rich and corporations while imposing a consumption tax on the poor through tariffs. Ben Norton explains how Trump is waging a class war.

VIDEO with charts here: https://www.youtube.com/watch?v=eL8cg-wWBO8

Check out our related video on JD Vance's speech on reindustrializing the US: https://www.youtube.com/watch?v=ywmpea6vvOE

Why Donald Trump won the US election: https://geopoliticaleconomy.com/2024/11/08/donald-trump-us-election-kamala-harris-economy/

Topics
0:00 Intro
0:09 (CLIP) Trump at McDonald's
0:33 Billionaires in Trump admin
1:36 Big Tech oligarchs
2:36 Corruption and bribery
3:17 Trump meme coin
4:20 Tax cuts for the rich
5:20 Tariffs are a tax
6:45 Trump's tax law benefited rich
8:25 Billionaires avoid taxes
10:01 Historical tax rates
11:44 Corporate tax rate
12:50 Progressive taxation
15:02 Why Trump won: inflation
16:43 Election turnout
18:02 Trump's low approval rating
20:20 Why people are angry
21:03 (CLIP) Obama on Wall Street
21:19 BlackRock CEO
21:48 Elon Musk
22:12 (CLIP) Trump on Tesla
22:21 US economy relies on rich
24:05 Unemployment rate is misleading
25:36 Stagnant real wages
29:34 Inflation is sticky
30:31 No more cheap goods
31:14 Scott Bessent &amp; George Soros
33:25 (CLIP) Scott Bessent on American Dream
33:40 Cheap goods &amp; China
36:51 Tariffs &amp; reindustrialization
38:22 Myth of American Dream
40:07 US life expectancy is falling
41:17 Scapegoating
43:37 Recession warnings
45:01 Housing
47:02 Elon Musk buys White House position
47:35 Blackstone CEO Stephen Schwarzman
48:34 Trump's fake "populism"
49:22 Hopeful examples
50:15 Mexico: AMLO 
51:43 Mexico: Claudia Sheinbaum
53:11 Learning from Mexico
54:50 China's poverty reduction
57:54 US oligarchy
58:37 Outro</description>

Donald Trump is portrayed as a "populist" committ…

Donald Trump is portrayed as a "populist" committed to average working-class people, but his policies benefit wealthy elites at the expense of everyone else. His administration includes 13 billionaires -- including Elon Musk, the world's richest oligarch -- and he is cutting taxes on the rich and corporations while imposing a consumption tax on the poor through tariffs. Ben Norton explains how Trump is waging a class war.

VIDEO with charts here: https://www.youtube.com/watch?v=eL8cg-wWBO8

Check out our related video on JD Vance's speech on reindustrializing the US: https://www.youtube.com/watch?v=ywmpea6vvOE

Why Donald Trump won the US election: https://geopoliticaleconomy.com/2024/11/08/donald-trump-us-election-kamala-harris-economy/

Topics
0:00 Intro
0:09 (CLIP) Trump at McDonald's
0:33 Billionaires in Trump admin
1:36 Big Tech oligarchs
2:36 Corruption and bribery
3:17 Trump meme coin
4:20 Tax cuts for the rich
5:20 Tariffs are a tax
6:45 Trump's tax law benefited rich
8:25 Billionaires avoid taxes
10:01 Historical tax rates
11:44 Corporate tax rate
12:50 Progressive taxation
15:02 Why Trump won: inflation
16:43 Election turnout
18:02 Trump's low approval rating
20:20 Why people are angry
21:03 (CLIP) Obama on Wall Street
21:19 BlackRock CEO
21:48 Elon Musk
22:12 (CLIP) Trump on Tesla
22:21 US economy relies on rich
24:05 Unemployment rate is misleading
25:36 Stagnant real wages
29:34 Inflation is sticky
30:31 No more cheap goods
31:14 Scott Bessent & George Soros
33:25 (CLIP) Scott Bessent on American Dream
33:40 Cheap goods & China
36:51 Tariffs & reindustrialization
38:22 Myth of American Dream
40:07 US life expectancy is falling
41:17 Scapegoating
43:37 Recession warnings
45:01 Housing
47:02 Elon Musk buys White House position
47:35 Blackstone CEO Stephen Schwarzman
48:34 Trump's fake "populism"
49:22 Hopeful examples
50:15 Mexico: AMLO 
51:43 Mexico: Claudia Sheinbaum
53:11 Learning from Mexico
54:50 China's poverty reduction
57:54 US oligarchy
58:37 Outro

Class war: How Trump helps the rich and hurts everyone else

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