Trump Team Makes HUGE Mistake As Soaring Diesel Cost Proves Farmer Disaster

[00:00:00]The US economy is fundamentally sound, and that that if it were to be extended, this it wouldn't really disrupt the US economy very much at all. It would hurt consumers, and we'd have to think about, you know, if if that continued, what we would have to do about that. But that's like really the last of our concerns right now.

[00:00:18]>> The economic damage to American consumers is the last of their concerns.

[00:00:24]Ooh.

[00:00:24]Well, expect to see that clip a lot, not only on this channel, but as we go towards the election. That That is if the Democrats know what they're doing.

[00:00:32]Um unfortunately right now, the Republicans don't and don't seem to care even how their war of choice with Iran will hurt you and your family. If they did care, they might have spared a couple of minutes to consider how exploding the price of not only just gasoline in general, but specifically diesel fuel might devastate a country that's already deep in an affordability crisis. And exploded they have. Take a look at this. Now, at the right, let's see if you can guess on this chart when the war with Iran began. Okay? Let's Do we have There we go. Yeah, that's um line go up. Man, line go straight up right there. Shooting up from uh the mid-three-dollar mark. Uh it was 3.65 a month ago. It's now 5.04 in the span of just a couple of weeks. In 1 month, the price of diesel went up 38%.

[00:01:27]Thanks, Trump. Here's the issue. That matters. That matters a lot, and not just for the people who need to pump diesel gas. Diesel gas goes into a lot of stuff. Tractor trailers, obviously, transportation of goods is like the big thing. But not just the the actual like trailers. Trains, many ships rely on diesel fuel. Basically, everything that transports consumer goods over long distances uses diesel fuel, and diesel fuel is now 40% more expensive than it was just a month ago. That's going to be passed on to consumers. And by the way, that's not the only thing. Mass transit, a lot of that uses diesel fuels. Expect ticket prices to go up. And there's also transportation of goods on mass transit.

[00:02:10]Construction equipment uses diesel fuel as well. So, construction likely to become more expensive. So, while you are already paying more for the gasoline that you pump into your car, you can expect for everything to become more expensive soon. And I have a quote from the chief investment strategist at Wedbush Securities about how the knock-on effects of jacking up the price of diesel will affect things, saying diesel inflation is usually not dramatic at first. It is gradual, but hard to lower. Consumers may not notice it in one day, but over a few weeks it shows up everywhere in grocery receipts, delivery surcharges, travel costs, and weaker spending power. And by the way, I will remind you, there's the gasoline, there is the diesel, but there's a lot of other important stuff that has to go through the Strait of Hormuz that now can't, including the price of fertilizer is expected to be driven much higher by the cost of the the effects of the Iran war. About a third of the world's ingredients for fertilizer, urea, sulfur, ammonia, transit through the Strait of Hormuz on their way to global markets. Now, I'm not a farmer. If I were, I would be devastated by the additional cost of diesel fuel these days.

[00:03:22]But I'm assuming that fertilizer is important in some way for the things that we eat. And I'll remind you, we were already devastated by the increased cost of groceries. Well, now growing things about to get significantly more expensive, too, Sharon. This just seems like a perfect storm, albeit a perfect storm that is the least of their concerns. What do you think?

[00:03:45]>> Yeah, somewhere someone's salivating cuz they're going to get rich off of all of the things that you just talked about that are making the rest of us hurt.

[00:03:52]Probably Kevin Hassett.

[00:03:53]>> Probably. Yeah, absolutely. They're they're loving this. They knew it was coming. They knew what they probably already checked their trades, by the way.

[00:04:00]Listen, the farmers were already hurting and needing bailouts, okay? Then there's the black farmers on top of that who weren't getting much money or help. This is, like you said, a perfect storm and I there's nowhere there's no more room to go. You know how like you have this budget and you're shifting from this to that to make it work. There is no more room for so many people. And by the way, don't think about summer travel cuz you're not going to be able to escape the the fuel, the airplanes, by the the lines, all of it. It's just too much.

[00:04:35]There's no escape from it and that is very very, as a country, as a member of this world, the trauma again being visited on people. It's just too much.

[00:04:47]>> Yeah, it affects everything. Travel we are and again, it was already so expensive. Travel, consumer products, groceries, the price of housing, all of this stuff. We started the year in the midst of a crisis and Donald Trump has decided to double down on literally every part of it. Gee, I wonder why he cares so much about the SAVE Act passing.

[00:05:11]>> [music]