The week Trump nearly crashed the world economy
The world just went totally mad. Here's what it means.
Timestamps
00:00 Introduction
02:55 Trump's Actions
04:58 Understanding Trade Deficits
09:41 Economic Inequality
10:51 Tariffs and Their Implications
12:33 Understanding Taxation Systems
20:53 Income and Spending Patterns Across Economic Classes
23:05 Impact of Tariff Policies on Global Trade and Poverty
25:11 Humanitarian and Economic Consequences of Tariffs
27:12 Tariffs and Strategic Implications
34:42 Economic Uncertainty
40:35 Market Manipulation and Trader Psychology
47:43 Global Implications
50:08 Comparison to Fyre Festival
51:59 Build a Better Future
UNDERSTAND, SHARE & PUSH BACK
GET THE TRADING GAME - https://www.penguin.co.uk/books/455809/the-trading-game-by-stevenson-gary/9781802062731
SPOTIFY - https://open.spotify.com/show/2807p01KIe4RRFjRTB5o25
INSTAGRAM - https://www.instagram.com/garyseconomics
TIKTOK - https://www.tiktok.com/@garyseconomics
BLUESKY - https://bsky.app/profile/garyseconomics.bsky.social
X - https://twitter.com/garyseconomics
FACEBOOK - https://www.facebook.com/garyseconomics
PATREON - https://patreon.com/garyseconomics
DISCORD - https://discord.gg/vqME6WsPd7
WEBSITE - https://www.garyseconomics.org
SUBSCRIBE, SHARE & START A CONVERSATION
Performed by Gary Stevenson
@garyseconomics
Install Tubelator On Chrome
Video Summary & Chapters
No chapters for this video generated yet.
Video Transcript
Okay, I've got to be honest, I didn't really want to do this video this week.
We've had a very busy three months on the channel.
I've been working a bit too hard.
We were just getting ready, if I'm totally honest, to wind things down and I was hoping
to take a little holiday, but obviously the world's gone totally mad in the last week
or so.
So against my better judgment we are going to do a video on tariffs and
Donald Trump. Okay so the first thing I want to say is
Usually, well always, I do this video with,
these videos with no scripts.
And my philosophy basically is,
if you really, really understand a thing really well,
you don't need a script, you can just come on,
explain the thing as clearly as possible,
and that will be the best way to educate an audience.
So before the videos, I don't write a script.
I spend most of my time thinking about and talking about
and researching the thing I'm going to discuss in the aim of basically getting
the clearest understanding on that thing. And I've spent the last week, as have most economists in
the world, talking to people about the Trump tariffs and the absolute madness we've been
seeing in the last week, trying to figure it out. And basically everybody is losing their minds.
It's really, really difficult.
It's really difficult just to get unbiased opinions.
Everyone is, like a lot of people,
especially outside America,
really, really, really hate Donald Trump
and think he's insane.
Some people really, really love him and think he's a genius.
There's a lot of discussion as to whether
he's even the brains behind this.
Is there some kind of massive plan?
Is it just like a massive fuck up?
And I've been fishing through this,
just like everybody else, trying to understand it.
I'd be lying to you if I said I have
the 100% complete truth on what's happening.
But I've been thinking about it a lot.
I've been trying my best to understand it.
And I think the best thing to do,
and what we're gonna try to do today,
is really slow it down, really unwind it,
and just try to explain as basic possible terms what I think is happening,
where I think it's relevant, I'll give other opinions.
And what I want to do is use this crazy thing that's happened
as an opportunity to unpack some important basic economic concepts
which I think will help you to understand what's happening in the world.
So before I do that I just want to refer back to the video that I did about 10
weeks ago when my book came out which was also when basically when Trump was
inaugurated called Truth, Lies and Games where I spoke about how powerful people
and like a really good example of this is Donald Trump because we could already
