What Trump JUST Said - Big Flip!

So, let's do a quick uh recap here of

what Donald Trump just said so you can

get a quick bottom line. Uh and then of

course there's an AMD event today. We'll

cover that as well. So, first thing uh

Donald Trump spends a lot of time at the

start of this yapping about how Powell

needs to be fired and he doesn't

understand why people don't want him to

be fired, but he won't fire him. He

won't fire him even though the United

States would save so much money. He

argues that the United States would save

$300 billion for every one percentage

point uh that Jerome Powell lowered

interest rates. Uh and so if I divide

that by uh one percentage point, it it

creates a very very large number in

terms of money that he's talking about

trillions and trillions of dollars. I

think he's basically applying that math

to the entire US deficit, but only

portions of our deficit have to be

refinanced over and over again here. But

anyway, he talks about if he lowered

them 2%, we'd save $600 billion in

interest. All right. Anyway, uh he

complains a little bit about how Europe

has done 10 rate cuts and we've done

none. Although in fairness, Germany's

probably already in recession and GDP

growth is substantially lower in Europe

than it is here. And uh of course here

we're now on a delayed path uh with rate

cuts because of uncertainty regarding

tariffs which of course that's where

Donald Trump gives us sort of this first

little reveal into his meeting with

Powell where he's like hey man like all

right you're worried about inflation but

the latest reports show no inflation.

What gives? Uh now of course this is a

very important thing to remember. Of

course, we can point to low inflation

now because we're talking about April

and May data, which is in an environment

where not only do we still have plenty

of inventory built up from before the

tariff drama, but also we had a very

uncertain market in April, which led to

less spending by consumers and

businesses leading generally to

depressed inflation. Some say we might

have actually been in deflation had it

not been for the tariffs. But we look at

obviously inventory buildup uh can can

lead to delays in the increase of

inflation as well as the lack of pricing

power by corporations. So at the same

time this was an event not to talk about

inflation or just power but it was an

opportunity to sign three different

resolutions on the uh California uh

electric vehicle mandate. So it's worth

touching on those a little bit here. uh

the Cal State of California basically

got carveouts. Carveouts that enabled

California to have stricter emission

standards than the EPA sets. So, not

only do you have uh emission standards,

but you also have what was known as the

EV mandate. Mind you, this is very

different from the EV tax credits that

electric vehicles are getting like

Teslas, the $7,500 credits. Those are

part of the big beautiful bill where as

part of the big beautiful bill, we

expect the $7,500 tax credit along with

tax credits for batteries, uh, wind, and

also some manufacturing credits to be

revoked through the big beautiful bill.

That's very different from these

resolutions that Donald Trump signed

today. Basically, the resolutions Trump

is signing today were voted on in in the

House and Senate. Uh, Democrats, about

35 Democrats actually supported uh the

the removal of these. Uh, and basically

this is a way of Donald Trump trying to

say, "Hey, these carveouts that we gave

California from EPA rules to allow

California because of their smog issues

or whatever to have stricter standards

than the rest of the country are being

granted and had been granted over the

last few years, especially under the

Biden administration. However, under

Trump now, we are signing resolutions

revoking those carveouts. So some of the

things that that would impact would be

uh emission standards for vehicles as

well as uh the uh minimum quota to have

a certain percentage of hybrid vehicle

sales every year as well as potentially

a a 100% of EV and or 100% of all cars

being sold in 2035 being either EV or

hybrid. This is a pretty large lift.

basically killing solely internal

combustion engine vehicles by 2035 in

California. Uh the we recently passed

the Congressional Review Act to revoke

that EPA waiver, giving California the

right to be able to do that. Part of

this happened because we were having a

really slow pickup in how many vehicles

are actually electric vehicles and

hybrids in California. Part of that is

probably because you have this concern

about not only charging deserts, the

hill points out here where you have to

you you just don't have chargers in a

lot of different areas. We're still

adopting the national standard that

Tesla uses for chargers, but you just

don't have chargers everywhere. The

uptime on chargers isn't great. Uh if

you live in an apartment, you don't

necessarily have access to good charging

infrastructure. I actually installed a

charging post on my curb uh you know on

the other side of my sidewalk because I

don't have a driveway uh because I own

that little strip. But the city didn't

like it. The city's like you need an

easement to be able to do this. So I had

to take it out. But I did that like

three or four years ago because I'm like

this is annoying like to charge your car

when you don't have a driveway or or a

place in a garage to do it. So uh you

know there's also talk about the

installation costs for chargers. You

know, I mean, I installed my charger

myself, but you have that was because my

charger was also relatively close to my

electric panel, but some people's

electric panels are too full or you're

still on a fuse box and you don't

actually have the sub panel. So, you're

spending a,000 bucks just to upgrade

your panel with a sub panel to put in an

EV charger. Uh, and then you got to

actually have the charging cable and the

charging outlet for it. You know, that's

going to run you another 250 to 500

bucks or whatever. So, there's some

costs involved in this as well. And

because you know pricing is so high

right now for so many things in our

lives a even Democrats are showing hey

this is frustrating like we can't force

everybody to adopt you know electric

vehicles give people a choice. And of

course Donald Trump is pitching hey this

is exactly what GM and Toyota want. We

want to give people the freedom to

choose an ICE vehicle or an electric

vehicle. Uh we don't want to force

people to uh get an electric vehicle uh

and give them the choice instead. That's

basically the idea of what Trump's doing

with these these resolutions. Now, Trump

also gave us some other comments on Iran

and China, which I want to talk about,

but I want to quickly mention that uh

keep in mind one of the reasons we're

seeing lower EV adoption is just because

uh gas prices have been coming down.

Now, we did have a little bit of a spike

in the last few days because of tensions

regarding a potential Israel strike on

Iran, which we'll talk about in just a

moment because Trump talked about it.

But uh you know as gas prices come down

it it becomes less desirable to convert

to an electric vehicle. It becomes less

necessary, right? Uh so these are things

to keep in mind as well. And now for a

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Donald Trump also talked about these

Israeli strikes on Iran. He says that uh

they're not imminent, but could well

happen. Now, something that's unique to

know about that is Donald Trump uh and

sort of this evacuation of uh dependence

uh of active duty members in our bases

in the Middle East, I think, is really

more art of the deal, Trump, where it's

kind of like, let's make it seem like

we're ready to strike Iran and let's

start evacuating some children and wives

and family members or whatever from from

military members in the Middle East. So,

I think it's a little bit more of a

negotiation ploy and not necessarily a

sign of an imminent strike. I mentioned

that this morning as well, and Donald

Trump did just echo that a strike is not

imminent, but could very well happen. He

reiterates that we've had good

discussions with Iran, but it's very

clear and simple. Iran cannot have a

nuclear weapon. Donald Trump also talks

about how he's in favor of letting

Chinese students stay here to get

educated. And of course, you have to

watch people for espionage. In January,

it's worth remembering if you didn't

hear about this case, but in January, we

heard that a former Federal Reserve

adviser was arrested for passing trade

secrets to the Chinese. And this adviser

worked in international finance uh

between 2020,

I'm sorry, between 2010 uh and 2021

uh and uh ended up passing these trade

secrets to the Chinese and worked at the

Fed. Now, obviously this person ended up

getting caught, but like the theft of

trade secrets is very common. And I

think Trump is right to say that like

you don't only have to watch students,

you have to watch other people as well.

I mean, we've even had politicians

sleeping with Chinese spies uh and

giving them trade secrets. So, like

these things happen in our history. This

is very common. Uh I'm sure we have

American CIA agents sleeping with uh

other politicians around the world as

well.

What an industry. Uh anyway, uh China,

regarding China, you know, no no actual

positive comments on on trade here. In

fact, if anything, a little bit more

inflammatory. Donald Trump talks up how

we're protecting our unions. But

remember, when we protect our union

workers, you're really taking from

millions of Americans who could have

cheaper products if we had free trade

globally, which I realize we don't

beyond even our tariffs. You know, uh

Chinese violations of our IP rights and

other issues as well are worth

addressing. editorial board of the Wall

Street Journal, obviously slaying that

there there are better ways to do this

than tariffs, but topic for a different

video. We discussed that in our PPI

video this morning as well. You should

watch it if you haven't seen it yet.

Very important video, by the way, on the

cracks in PPI. So, watch that if you

haven't yet. Uh you can also download

the Meek Keaven app to make sure you're

not missing any notifications on

economic news because uh YouTube's just

not going to feed you them all. uh

especially as we're now in office and

posting more while we wait to go buy

deals with House Hack, which we'll see

because once we get to buying deals with

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quarter, we're going to be really busy

again. So hopefully we can keep up live

streams for as long as we can. But right

now, we're kind of in the waiting period

for Houseack, which is great. And if you

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more about it over at houseack.com. read

our paperwork. Risk with every

investment, but we're open to

nonacredited investors. Uh oh. Now, mind

you, uh there's also this like case of

like a Chinese individual now being

blamed for stealing Optimus trade

secrets. I'll do a separate video on

that, but like IP theft is very very

common in in America. So, these are real

issues. On top of that, you also just

heard Donald Trump flip-flop on our farm

workers. That's because we just had in

uh you know, Oxnard, California, which

is like 10 minutes away from me, uh get,

you know, ice raids on our fields, you

know, our strawberry fields or wherever

else, uh basically rounding up our farm

workers. And one of the things I said in

my immigration video yesterday, which I

also encourage you to watch if you

haven't seen it yet, but one of the

things I said in our immigration video

is yesterday, I understand the

right-wing media wants to promote that,

oh, we're arresting all these violent

criminals. Sure, it's easy to cherrypick

when you arrest a thousand people, the

10 people that are criminals, but let's

be real, that's a 1% capture rate of

criminals, and that means 99% of the

people you're arresting are just people

trying to get ahead in the world. Uh,

now understandably, the argument is

fair, that they are illegal, but they

were also led to believe that it is okay

to be here and basically earn your keep

in America if you follow the law

otherwise. So this is decades of

immigration mismanagement by both

Republican and Democratic

administrations and Trump's

administration won. So it's a terrible

thing. Uh but now Donald Trump is sort

of flip-flopping on arresting people on

fields. So the title of the video, maybe

not the best title of the video, but I

put former governor candidate responds

LA ICE raids. I think it's it's actually

a good video. Uh and uh um

it's it's it's worth seeing the broader

perspective uh in that video. So check

that out. Now uh the Trump U-turn is

really I'm saying, hey, like we can't

throw out all the good people because if

we throw out all the good people, even

though they're illegal, our farmers

don't have workers and then the

criminals end up going to work there.

That's what he just said in his press

conference. And in his truth social

post, which I can go ahead and pull up

here on screen in just a moment, but he

says, "Our great farmers and people in

the hotel and leisure business who also

employ, you know, dishwashers or

housekeepers or whatever, you know,

they're getting raided and kind of

screwed." Basically, says, "Our great

farmers and people in the hotel and

leisure business have been stating that

our very aggressive policy on

immigration is taking a very good is is

taking very good longtime workers away

from them. with these jobs being almost

impossible to replace. See, this is

where like there's this constant

argument of people like, "Oh, well,

Americans should just take the job."

Okay, really? You want to go be the

housekeeper at the local Holiday Inn?

Like, this is Donald Trump actually

U-turning, realizing, crap, maybe we're

going a little too far, arresting just

hardworking people. Yes, they might be

undocumented, but they're trying to get

ahead. And like, we would probably do

the same if we were in the situation,

right? Anyway, uh this is Trump

U-turning. It's him U-turning. These are

his words. Uh, in many cases, the

criminals allowed into our country by

the very stupid Biden open borders

policy are applying for those jobs. This

is not good. We must protect our

farmers, but get the criminals out of

the USA. Changes are coming. This is

good. I actually applaud Donald Trump

for this walk back because it's it's

very logical. As I said in my

immigration video yesterday, get

criminals out. There is no Republican

and there is no Democrat that says, "Oh

yeah, keep all the criminals." There we

go. Uh, nobody says that, right? Like

everybody's a fan of get the criminals

out. There's no question of that.

However, like get hardworking people

out, you know, in jobs that Americans

don't want to take. You know, that's

where the debate is. 50% of people say,

"Ah, well, we'll just pay more and then

Americans will want to take the job."

All right. You want to pay twice the

cost for a hotel stay? You want to pay

three times as much for a bucket of

strawberries? Uh, clamshell, I guess we

call them. But anyway, you know, things

to think about. So, uh, this is what

Donald Trump just said. It's it's I I

actually think it's very insightful

because it tells us that the Iran

situation may be less of a big deal

because I think it's more posturing in

negotiations.

Great immigration U-turn by Trump. I

applaud him for that U-turn because I

think what they were doing was a little

too extreme. Uh, and uh, as far as

China, still no real good news there.

And then rolling back the Chinese uh,

the California uh, uh, you know, EV

mandates. Gavin Newsome's going to be a

little weeny and he's going to

like sue Donald Trump over this very

very soon. I would expect within the

next day or two he's going to try to sue

again. But this was an EPA carveout

and technically you could take that

back. So, you know, without like

lawyering this out, uh I suspect that uh

Trump might be able to pull those

resolutions off, especially since

they're an act of Congress that he's

signing. So, we'll see. Uh anyway, that

gives us an update on what Donald Trump

just said. Make sure to get the Meet

Kevin app, by the way, to get my

summaries on on all these topics. Why

not advertise these things that you told

us here? I feel like nobody else knows

about this. We'll we'll try a little

advertising and see how it goes.

Congratulations, man. You have done so

much. People love you. People look up to

you. Kevin Pra there, financial analyst

and YouTuber. Meet Kevin. Always great

to get your take.