馃攳
The Effect Of The Trade War On Blue Collar Workers | Velshi & Ruhle | MSNBC - YouTube
Channel: MSNBC
[0]
so you've got people fearing that they
[1]
could lose their job but giant investors
[4]
you got war on the buck the warren
[5]
buffett's of the world saying this is
[7]
just Trump rhetoric it's not going to
[10]
happen
[10]
could this be Trump just playing his
[13]
bluff game well I don't think there's a
[16]
bluff going on here and in Missouri I
[18]
mean as Vaughn just pointed out and
[20]
thank him for doing that people are
[23]
really losing their jobs really that's
[25]
not a bluff they are really closing that
[27]
plant that's not a bluff and doesn't
[30]
that show right there the clear
[31]
difference between the stock market and
[34]
the economy in the stock market you can
[37]
buy and sell stocks within seconds if
[39]
you have to plan for actual corporate
[43]
activity you can't do that limber years
[45]
takes months and years to plan for a
[47]
plan to decide to get put the capital at
[49]
work to buy all that plant and equipment
[50]
hire those workers pay them more but you
[53]
know that's not what's happening look at
[54]
Walgreens today okay
[56]
Walgreens tax rate went down from
[57]
whatever it was 25% to 7% what are they
[60]
doing with that extra money 12 to 7 12
[63]
to 7 thank you for the action what do
[65]
they do with the money by buying back
[67]
their stocks and paying a dividend to
[69]
their shareholders which is great for
[71]
Americans who perhaps own stocks but how
[73]
about people who expected to get higher
[76]
wages and more and higher employment and
[78]
higher paid more for the work that
[80]
they're doing not like the people here
[82]
in in Missouri who are losing their jobs
[84]
this is a total self-inflicted wound
[86]
Stephanie the thing is that people
[88]
thought with President Trump that they
[90]
were gonna get a good businessman the
[91]
irony of this is he's pretty much of a
[94]
lousy businessman he doesn't understand
[96]
business and he's showing it right now
[98]
okay well to the point of stock buybacks
[100]
we're ready at something like a hundred
[101]
and eighty nine billion for the first
[103]
three months of the year all we've seen
[105]
are one-time bonuses no real wage
[107]
increases so it's been a great positive
[111]
for the market but in your piece in
[113]
Vanity Fair which you write it has been
[115]
a fun ride Wall Street braces for
[118]
Trump's economic colonic why is there
[120]
going to be a colonic all of this is
[122]
great for the market it's terrible for
[124]
the American worker
[125]
well the
[126]
there are many reasons as I talked about
[128]
in that piece is to talk about colonics
[130]
many reasons to talk about how the fun
[133]
ride is over because you know no one
[134]
rings a bell at the top of the market
[136]
the truth is that the stock market the
[137]
Dow Jones Industrial Average what we
[139]
think of as the stock market is off 10%
[142]
since its January highs and his daughter
[145]
Ivanka who liked to tweet about the
[147]
market have it in quite something
[148]
no no that's because there's so much
[150]
winning going on that they can't stand
[152]
it anymore I mean the interesting thing
[154]
is there is a debate even inside his own
[156]
white house about the virtue of these
[158]
tariffs and and what it really becomes
[160]
self-inflicted wounds I mean people who
[163]
do understand the market people like
[165]
Steve minuchin who is Larry Kudlow are
[168]
against these tariffs and I hope Larry
[170]
gets better soon people who for some
[174]
reason should understand but don't and
[176]
are more sycophantic like Wilbur Ross
[177]
and Robert light Hauser and Peter
[180]
Navarro are pushing these things we are
[182]
picking fights with our allies we are
[184]
picking fights with people who are
[185]
investing in this country look at the
[187]
Germans they have built a huge BMW plant
[190]
in South Carolina perhaps the biggest
[192]
car plant they have in the world
[194]
mercedes-benz and Volkswagen have also
[196]
built car plants in the south and what
[198]
are we doing we're picking fights with
[200]
them we're picking fights with China why
[201]
are we doing this okay to that point
[204]
right there auto nation CEO Mike Jackson
[206]
says automotive tariffs will make steel
[209]
tariffs look like a company picnic we
[212]
know President Trump doesn't have an
[214]
understanding of how trade works but if
[216]
I'm Lindsey Graham if I'm in the state
[218]
of South Carolina how do I manage this
[221]
you have to come out and use your voice
[224]
your voice is one of a hundred senators
[226]
is one of the two senators for the state
[228]
of South Carolina
[229]
and object to what he is doing what they
[232]
don't have the guts okay but let's say
[234]
China comes in next week and president
[236]
Trump again who doesn't understand how a
[238]
trade deficit works he obsesses over
[240]
let's get that trade deficit number down
[242]
President Trump it's not just the
[244]
Chinese government it's the US consumer
[247]
who wants to buy all that stuff but
[248]
let's say smoke and mirrors prevails and
[251]
China shows up and says here's a way to
[252]
lower the the trade deficit Trump will
[255]
then say to his audience look I got that
[259]
down and the stock market is doing so
[261]
well and we've got more people having
[262]
jobs than ever that's a winning headline
[265]
for him well he is a master at creating
[268]
winning headlines for himself he is also
[271]
a victim of people in the media who are
[277]
properly pointing out where he is wrong
[279]
but it does not have some doesn't seem
[281]
to have an effect with his face the
[283]
truth is he also promised us Stephanie
[285]
he was going to eliminate the national
[287]
debt now it is 21 trillion and climbing
[290]
and he doesn't seem cared about that
[291]
doesn't talk about that anymore
[293]
he doesn't talk about the annual deficit
[295]
if you go into his business history he's
[298]
the master of yes he was I think there
[301]
was a covered story about him being the
[303]
king of debt he racks up debt that's his
[305]
jam of course like any defaults on it
[307]
he's defaulted between four and six
[308]
times and creditors have lost billions
[310]
of dollars and we maybe as a nation
[313]
about to go into some sort of a
[315]
bankruptcy spiral just imagine if we go
[317]
full circle President Trump was not a
[320]
client of any US banks because he racked
[323]
up debt and did not pay imagine if we
[327]
come full circle and we rack up our
[329]
deficit and at the same time while the
[331]
robert muller investigation goes on we
[333]
find out that President Trump who
[335]
doesn't borrow from US banks borrows
[337]
from Russians well that will be the
[339]
death knell and don't forget our who's
[340]
our largest creditor China and who are
[342]
we picking a trade fight with China why
[345]
are we doing this you know we can never
[347]
forget that China take a look at how
[350]
much US government debt China owns
[353]
it's a holding gang lock hey there I'm
[355]
Chris Hayes from MSNBC thanks for
[356]
watching MSNBC on YouTube if you want to
[358]
keep up to date with the videos we're
[360]
putting out you can click subscribe just
[361]
below me or click over on this list to
[363]
see lots of other great videos
Most Recent Videos:
You can go back to the homepage right here: Homepage