8/12/25: Inflation highest in 6 months, layoffs highest in 5 years
The David Pakman Show
David Pakman
4.6 • 2.8K Ratings
🗓️ 12 August 2025
⏱️ 61 minutes
🧾️ Download transcript
Summary
-- On the Show:
-- Inflation rose sharply in July under Trump’s economy, driven by tariffs causing prices to increase above the Fed’s ideal range
-- Trump’s firing of the Bureau of Labor Statistics head raises questions about the credibility and political influence on inflation and jobs data
-- Layoffs in the US surged to the highest level since the COVID pandemic, fueled by federal job cuts, tariffs, AI automation, and private sector downsizing
-- Trump’s takeover of DC police and deployment of National Guard troops sparked protests and potential resistance from the Guard
-- Trump’s strange remarks about sidewalk scrubbing during a speech leave his staff bewildered
-- Trump’s FBI Director Kash Patel publicly contradicted MAGA narratives by reporting record low murder rates, enraging Trump
-- Donald Trump confused Alaska with Russia during a speech, exposing incoherence and hypocrisy in right-wing media responses
-- Trump’s press secretary Karoline Leavitt had a visible meltdown on camera when asked a simple question about the Epstein scandal
-- Marjorie Taylor Greene publicly attacks other MAGA figures, exposing internal conflict and power struggles within the movement
-- Jeanine Pirro struggled when confronted with real crime data showing declines, undermining the MAGA narrative
-- Defense Secretary Pete Hegseth dodged questions about the fate of homeless people after Trump’s plans to clear homeless encampments
-- On the Bonus Show: Pete Hegseth retweets Christian nationalist pastor, Project 2025 guy picked for BLS leader, MTG accused of sketchy stock trading, and much more...
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Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome to the show, everybody. |
| 0:08.6 | Today's show almost was very, very late when I was preparing for the show this morning. |
| 0:14.6 | I was fed a video of Lara Trump covering singing Tom Petty's song, won't back down. |
| 0:23.2 | It was so nauseating and I felt so unwell that the entire show almost had to be a pushback. |
| 0:29.3 | But miraculously, I am here. |
| 0:32.0 | We are here. |
| 0:33.1 | And there is going to be a heavy focus on the economy in today's show because we are now building |
| 0:38.4 | up a picture of where this economy is going. |
| 0:41.3 | And it's, it is a political story, but we really just start with the facts. |
| 0:46.3 | And it's not, oh, everyone's now unemployed and the economy is objectively terrible. |
| 0:52.4 | But we now have four, five, maybe six important indicators |
| 0:56.7 | that this economy is going very much in the wrong direction. |
| 0:59.4 | Inflation is now up. |
| 1:00.5 | Trump said it would be down. |
| 1:01.5 | It's up. |
| 1:02.8 | Layoffs have hit the highest level since COVID times. |
| 1:06.7 | Manufacturing saw its largest decline in years. |
| 1:10.5 | And we have an environment that isn't extraordinary |
| 1:14.8 | economically. And it signals potential problems. So let's take each of these issues one at a time, |
| 1:21.1 | starting with today's inflation report. And then I know a lot of you have been writing to me saying, |
| 1:24.9 | David, can we even trust inflation numbers at this |
| 1:27.9 | point? |
... |
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