Three Signs Of The Trumpification Of The Economy

What A Day

Crooked Media

News, Daily News

4.6 • 12K Ratings

🗓️ 27 August 2025

⏱️ 24 minutes

🔗️ Recording | iTunes | RSS

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Summary

In the federal government’s latest excursion into the private sector, the US announced last week that it took a 10% stake in Intel. The move comes after the Defense Department became the biggest shareholder in a mining company, and the Trump administration made deals with AI chipmakers. Meanwhile, President Donald Trump is continuing to direct his ire at the Federal Reserve— this time specifically on Fed Governor Lisa Cook, whom he tried to fire on Monday. So for more on state-sponsored capitalism and the seemingly never-ending Federal Reserve fight, we spoke with Scott Lincicome. He’s the vice president of general economics at the Cato Institute. And in headlines: President Trump makes a lengthy television appearance with his Cabinet, a whistleblower says the Department of Government Efficiency put Social Security data at risk, and a federal judge dismisses a Department of Justice lawsuit against Maryland's entire federal bench.

Transcript

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0:00.0	It's Wednesday, August 27th. I'm Jane Koston, and this is Waday.
0:06.0	The show celebrating the biggest pop culture news of the week.
0:09.6	The Princess of Wales is blonde now.
0:12.6	Wait, was there other pop culture news?
0:15.8	Nothing comes to mind.
0:27.4	On today's show, President Donald Trump and friends hold a televised cabinet meeting longer than the runtime of the Godfather.
0:30.7	And Doge puts American social security data at risk.
0:31.6	Fun!
0:34.3	But let's start with socialism!
0:39.7	That's what conservatives love to cry when federal and local governments control portions of private companies, or when a mayoral candidate champions city-owned grocery stores in New York.
0:45.2	But according to Commerce Secretary Howard Lutnik on Fox News Monday, when President Donald Trump
0:50.6	takes control of private companies like U.S. Steel or Nvidia or Intel.
0:54.5	That is not socialism. I'll tell you what that is. That's the best businessman in the United States of America.
1:00.6	In the Oval Office, doing fair things for us, the American taxpayers. I mean, look, I helped him structure the deal.
1:08.3	And he wouldn't structure a socialist deal? Yes, and a move that made
1:12.7	independent Vermont Senator Bernie Sanders very happy. Really? The U.S. government announced last
1:18.0	week that it has taken a 10% stake in Intel, propping up a company that has not had a very good
1:23.0	time over the past few years. And that's just the most recent federal excursion into the private
1:27.1	sector.
1:31.1	There's the Defense Department becoming the biggest shareholder in a mining company,
1:37.1	the deals with AI chipmakers, Nvidia, and AMD we discussed in the show, and a golden share in U.S. Steel. And because we all love a command economy, don't we folks? Trump is also continuing
1:43.5	to take aim at the independence of the Federal
	...

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