The latest producer price index (PPI) data reveals a sharp rise in inflation to 6.3%, signaling significant economic stress and a likely upward trend in consumer prices. Donald Trump has blamed President Biden for inflation and claimed that a victorious war with Iran would lead to rapid drops in oil and diesel prices, while dismissing current military realities. However, real wages have declined for six straight months, undermining any economic recovery. Escalating regional conflicts—such as attacks on oil tankers in the Strait of Hormuz and missile strikes in Yemen—are exacerbating instability. Meanwhile, Trump’s approval ratings are at historic lows, particularly on economic performance, with a 57-point decline since 2020. In Ukraine, President Zelensky has ended a ceasefire on Russian refineries and resumed attacks, while U.S. restrictions on Starlink have weakened Ukrainian defensive capabilities. Iran has conducted five consecutive ballistic missile tests, significantly expanding its arsenal, while the Trump administration lacks countermeasures. This confluence of economic stagnation, deteriorating global tensions, and political discontent underscores a volatile and unstable international environment. The broader message is that economic and geopolitical realities are diverging sharply from political rhetoric, creating a challenging and potentially dangerous future.
Donald Trump's Thursday is already off to a disastrous start.
The latest PPI, producer price index inflation numbers, came out.
They are far worse than expected.
September PPI inflation unexpectedly rose to 6.3%, above expectations of 5.3%,
with core PPI inflation rising to 5%, above expectations of 4.4%.
PPI inflation, which is sometimes called wholesaler inflation,
is now at the second highest level since November 2022.
And when PPI inflation rises like this, the consumer price index, consumer inflation,
also rises and follows, and we're already seeing that.
And when you look across all industry sectors, you're seeing a rise in the PPI as well.
Now,
Donald Trump was in Montana last night.
Some of the interviews that he gave there are now being released this morning, like this one,
where he blames Joe Biden for the high cost of living.
Let's play this clip.
We inherited the worst inflation through Biden in the history of our country,
and we have that down now, very down low.
But it's going to come even lower as soon as we finish the war.
And then here's what he said about Iran and the catastrophic war where the United States
continues its humiliation ritual on a daily basis.
Let's play this clip right here.
Yesterday, called for federal diesel taxes to be suspended.
Is that something you support?
It is something I may support, but we're going to have it fixed very quickly.
We're going to have Iran defeated very quickly.
And as soon as that happens, oil and diesel will be falling like a rock.
It's going to be coming down very fast, but it's something I may do anyway.
You know, also, I think an important data point.
Look at real world.
Real wages right now.
Real wages are shrinking year over year for the six months in a row.
Just look at this, how damning this chart is right here.
The Iran war brought an end to three years of real wage growth.
And now the inflation is swallowing any wage rises up.
And, you know, obviously, we're all feeling it.
I mean, it's why people can't afford anything.
It's why people can't, you know, people are struggling every damn day.
You take a look at what's going on in the Strait of Hormuz right now, Iran's Navy just
hit yet another oil tanker in the Strait of Hormuz.
You can see right over here, yet another tanker that is on fire.
We look at what's happening in Yemen right now, Ansar Allah, also known as the Houthis.
They just struck the area right around the presidential palace in Aden.
Of the Saudi Arabian-backed government.
That's the PLC, is what they're referred to as.
Reports claim eight ballistic missiles from the Houthis targeted the Mashik Palace
during a meeting between Saudi officials and allied Yemeni PLC commanders.
There appears to be a number of casualties right there.
Obviously, war is escalating in the region as well.
We've also been seeing a lot more satellite footage coming out.
looking at her, you would look at her documents,
you also would look at her family's documents.
Sometimes people come to this country
because of a familial relationship.
We know that her father came to this country.
Was he truthful in what he said on his documentation
when that application was made and how it was certified?
When you go back and you find that anything could be wrong
or misrepresented, well, that's when it voids
or cancels out their citizenship process
and they no longer deserve
or can legally be in this country.
The reality is, is that the Trump and MAGA could claim
that everything is fine for them
and that they're not worried about the midterms.
Donald Trump has the lowest approval
in modern presidential history.
He has the worst approval on the economy in modern,
let's just remove the word modern, in presidential history.
Here's Harry Enten on CNN, let's play this clip.
- Backbreaking, it's backbreaking for Trump and Republicans.
I mean, just look at these numbers.
Trump's not approval rating on the economy.
You know, you look at a retrospective,
the approval rating according to the New York Times
back in 2020, 2024, look at this.
He was 34, 31 points on the positive.
Look at it now, 26 points in the negative.
What is that?
That's a 57 point shift
away from the president of the United States.
You think that's bad?
How about let's go into the Hudson River?
No, we're going into the Harlem River.
Look at this, plus 38 points among independents
and now minus 38 points.
That is a shift of 76 points
away from the president of the United States, to quote,
"Franc Tarkin did talk about Jim Marshall."
You're going the wrong way.
You're going the wrong way deep underwater now.
- Yeah, this was a huge positive,
now it is a huge negative for the president.
Where does he rank historically?
Is there any comparison that maybe should make him nervous?
- Oh, I think he should be incredibly nervous
and the Republican party should be incredibly nervous
because we're talking about 26, right?
Negative 26.
Well, let's take a look at term two presidents, right?
At this point in term number two,
their economic net approval ratings,
you see Trump here,
26 points.
The only one who's really close at all
is George W. Bush back in 2006.
He was 23 points underwater,
but Donald Trump takes the cake
in terms of being the least like when it comes to the economy.
The only one that's close, Bush,
and of course his party lost the House and the Senate.
He is doubly as unpopular as Obama,
way different than Bill Clinton, who is plus 50.
And then of course, Ronald Reagan's party in '86,
who lost the Senate.
Reagan was on the plus side of the ledger
and now Trump is 26 points underwater.
This forecast, very,
very bad things for Republicans.
Now, as we reported earlier,
and we're seeing it now play out,
Ukraine has restarted major strikes
on Russian oil refineries
with Zelensky declaring to the Financial Times,
"The block on attacking refineries is out.
We're done."
Zelensky said even though Trump never really did a deal
that would have a energy ceasefire,
Zelensky said, "Look,
we honored whatever Trump posted on social media.
We didn't strike Russian diesel for three days.
They kept on striking our power grids."
I've shown you what they did.
They were striking the power grids in Kharkiv
and outside of Kyiv,
the thermal power plants and the CHP,
those central heating plants as well.
So Zelensky said, "Look, we've got to do it."
And also, you know, you have the Trump regime throttling
the Starlink or the military version Star Shield
to prevent these Ukrainian drones
from traveling certain miles per hour.
He's like, "I'm done.
We're a country.
We have to defend ourselves."
So he said, "The block is out.
Let's play this clip."
- So if they keep doing this,
how much longer will you maintain the stoppage
of attacks on Russian refineries?
- That's it.
Block is out.
Today's evening, I said to my military people,
after they again killed,
I killed today after such massive attack,
I didn't hear messages
from president of the United States
because they are night,
maybe a little bit later we will hear.
And then in Lutsk and again in some other cities,
they attacked again, killed a lot of people,
just civilian, all of them, just civilian,
no military people, just civilian.
- Then he was asked,
"What's your understanding of the nature
"of the relationship between Trump and Putin?"
And here's what he said right over here.
- What's your understanding of the nature
of the relationship between president,
President Trump and president Putin?
- I think president Trump such man that he speaks about it,
I mean, openly and loudly that he loves such people
and he respects such people.
Because for him, I don't know,
people who can be leaders 20 years, 30 years, 40 years,
it's been that very strong because you can,
I mean, hold the power.
So I think in, it's, it seems to me, I don't know.
- You can see the strikes by Zelensky in Ukraine
on the Briskolbusk airfield in Russia's Varens region,
where they knocked out a bunch of Russian planes.
I'll maybe do another report on that.
Some of those Su, those Su planes.
And meanwhile, you have the Netanyahu regime
out there basically saying,
"Ah, we're going to, you know, don't you,
don't you test us Iran, we're ready.
We're ready to invade any moment now."
And we've been seeing the reports behind the scenes
that both Trump and Netanyahu won a national security event
before their respective elections.
And they seem to be wanting to escalate soon.
Iran is preparing for that.
By the way, Iran has been,
this is Iran's fifth day in a row
of doing ballistic missile tests.
And so while Trump's like,
"They don't have any weapons at all."
Iran has been demonstrating
various ballistic missile capabilities
over the past five days.
And so while the Trump regime has run out of weapons,
run out of interceptors,
Iran has stockpiled a massive amount.
It's just the reality.
I'm just telling you the facts of what the situation is.
They have a massive amount of ballistics,
cruise missiles, Shahids,
and probably the upgraded Shahids,
the Garin 4s and the Garin 5s.
So that's where we're at this morning.
Let me know what you think.
Hit subscribe.
Let's get to 7 million.
Oh, the book comes out.
"WTF America" is out next week.
So pre-order it now.
So it arrives on Tuesday,
but you gotta pre-order it now.
Get the hardcover, get the ebook,
and put in the comments if you pre-ordered it.
Thanks everybody.
Before you go, our book "WTF America"
is available for pre-order now.
It's the story of how we got here
and how we fight our way back.
To pre-order, scan the QR code
or click the link in the description.
Let's do this.
♪ ♪
Podcast Summary
Key Points:
September PPI inflation unexpectedly surged to 6.3%, exceeding expectations and marking the second-highest level since November 2022, signaling rising consumer prices.
Donald Trump blames Joe Biden for high inflation and claims war with Iran will soon end, leading to a drop in oil and diesel prices, though this contradicts current economic data.
Real wages have declined for six consecutive months, reversing three years of growth and contributing to widespread financial strain and hardship.
Escalating regional conflicts, including attacks on oil tankers in the Strait of Hormuz and missile strikes in Yemen targeting Saudi-backed officials, reflect rising instability in the Middle East.
Trump’s approval ratings are at historic lows, especially on the economy, with a 57-point shift from positive to negative since 2020, making him the least popular U.S. president in terms of economic approval.
Ukraine has resumed attacks on Russian oil refineries, rejecting previous ceasefire pledges, while the U.S. has restricted Starlink military use, undermining Ukraine’s defensive capabilities.
Iran has conducted ballistic missile tests for five consecutive days, expanding its arsenal of cruise and Shahid missiles, while the Trump administration lacks interceptors and weapons.
Both Trump and Netanyahu are reportedly preparing for military escalation, with Iran advancing its capabilities, indicating a dangerous regional standoff.
Summary:
3%, signaling significant economic stress and a likely upward trend in consumer prices. Donald Trump has blamed President Biden for inflation and claimed that a victorious war with Iran would lead to rapid drops in oil and diesel prices, while dismissing current military realities. However, real wages have declined for six straight months, undermining any economic recovery.
Escalating regional conflicts—such as attacks on oil tankers in the Strait of Hormuz and missile strikes in Yemen—are exacerbating instability. Meanwhile, Trump’s approval ratings are at historic lows, particularly on economic performance, with a 57-point decline since 2020. S.
restrictions on Starlink have weakened Ukrainian defensive capabilities. Iran has conducted five consecutive ballistic missile tests, significantly expanding its arsenal, while the Trump administration lacks countermeasures. This confluence of economic stagnation, deteriorating global tensions, and political discontent underscores a volatile and unstable international environment.
The broader message is that economic and geopolitical realities are diverging sharply from political rhetoric, creating a challenging and potentially dangerous future.
FAQs
The September PPI inflation rate rose to 6.3%, exceeding expectations of 5.3%. This is significant because it signals rising costs for goods and services, which often leads to higher consumer prices.
PPI inflation, or wholesaler inflation, typically feeds into consumer inflation. As wholesale prices rise, businesses pass on these costs to consumers, leading to higher prices at the retail level.
Trump blamed Joe Biden for high inflation and claimed the war in Iran would lead to falling oil and diesel prices. He suggested that defeating Iran would reduce energy costs significantly.
Real wages have declined for six consecutive months, with the inflation rate eroding any wage growth. This has contributed to financial strain for many Americans.
Escalations in the Strait of Hormuz and Yemen have disrupted oil supply and increased regional instability, with attacks on oil tankers and government facilities raising concerns about global energy security.
Trump has the worst economic approval rating in modern presidential history, with a negative 26-point rating, making it the lowest among term-two presidents.
Chat with AI
Loading...
Pro features
Go deeper with this episode
Unlock creator-grade tools that turn any transcript into show notes and subtitle files.