5/21/25: Economic update, habeas corpus collapse, a new Golden Dome

The David Pakman Show

David Pakman

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4.6 • 2.8K Ratings

🗓️ 21 May 2025

⏱️ 64 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

-- On the Show:

— Where the economy stands after four months of Trump: unemployment steady, GDP dips, inflation down, consumer confidence collapsing

— Trump lashes out during a press conference, lies about healthcare and groceries, praises the Pope’s nonexistent MAGA brother, and walks into a wall

— Karoline Leavitt answers kids’ questions with a stream of propaganda and fantasy about Trump, climate change, and gold-plated Oval Office décor

— Trump unveils a fantasy “golden dome” missile defense shield, falsely claims it’s already funded, and confuses reporters with rants about vaults and Russia

— Kristi Noem embarrassingly fails a basic civics test on habeas corpus, illustrating why the Trump movement is so dangerous to constitutional rights

— Republican Congressman Thomas Massie turns on Trump over the tax bill’s $20 trillion price tag — and Trump demands Massie be voted out

— Elon Musk says he’ll scale back future political spending after Trump’s failures, and insists media falsely portrayed him as a Nazi

— Elizabeth Warren obliterates IRS nominee Billy Long for not knowing if the president can unilaterally revoke nonprofit status

-- On the Bonus Show: Sources contradict Qatar plan "gift" narrative, Justice Dept opens inquiry into Andrew Cuomo, controversy explodes over Jake Tapper's book about Joe Biden's decline, much more...

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Transcript

Click on a timestamp to play from that location

0:00.0	Welcome to the show, everybody.
0:08.7	One of the, I believe, most useful things that we can do at least to create a baseline for
0:15.2	evaluating a presidency is to really keep track of a bundle of economic indicators.
0:21.6	And we've talked about before how I, of course, have personal views and opinions and biases,
0:30.6	but that at least as a starting point, I may have an opinion about gay marriage, for example, but at least as a starting point, it's
0:39.9	a good thing to look at five, six, seven economic metrics and say, let's put aside our
0:45.5	opinions about the president.
0:47.5	Let's put aside for a moment our views on social issues.
0:50.5	And let's just track how economic indicators have changed under the current president
0:55.9	versus the previous one.
0:57.3	In this particular case, what we're saying is how does the Trump administration's second
1:02.2	term now four months in compare economically with what we saw during Joe Biden's presidency.
1:11.6	One of the, I think, relevant things to understand about the tariff program is that the announcement
1:19.6	of tariffs and then the suspension of tariffs all still for the most part not yet started,
1:26.6	even though there are some tariffs on China
1:28.4	They really affect futures markets the stock market is a futures market the day you announce
1:34.8	tariffs especially if they are to take effect at some future point nothing changes that day
1:42.0	about the profitability of a publicly traded company, but its share
1:46.4	price may go down because it reflects beliefs about the future profitability of that company.
1:52.9	So all of this being said, we can simultaneously understand how blanket tariffs on every country
2:00.5	would be bad for American companies, small
2:02.9	businesses and individuals, but recognize that not all of that takes effect right away
	...

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