Business Leaders Predict MASSIVE Trump Induced Economic Crash

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Last week’s abysmal jobs report was just the beginning, and business leaders across the country are warning of an imminent, Trump-induced economic collapse in the near future. Companies have already begun laying off employees as they prepare for the worst – a move that, ironically, will actually help to ensure that the collapse does happen. But this is what uncertainty causes, and Trump has brought nothing but uncertainty to the economy since becoming President. Ring of Fire’s Farron Cousins explains what’s happening.

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*This transcript was generated by a third-party transcription software company, so please excuse any typos.

Business leaders in the United States are sounding the alarm bells telling us that that horrible jobs report from last Friday was just the beginning. And in fact none of them were surprised by the low jobs numbers. And of course the revisions of the numbers from June and May. Because these business leaders, you know, the captains of industry know well what's been going on in the businesses because they've been laying off workers all year. They say, here is how Greg Ahern, the president and CEO of the Toy Association put it, inflation and price increases are coming. Layoffs have already been occurring and supply is going to be lower. As we head into the holiday season, these are all happening. I think most people believe wholeheartedly that the impact of these tariffs is going to be felt in the months ahead. And the reason why is that production and manufacturing and the goods as they flow through the supply chain takes time.

Here's what a lot of people don't understand. Oh, and by the way, today, August 7th, uh, more tariffs go into effect including about a 50% tariff on Brazil, 50% tariff on India and less Trump chickens out. Uh, we're gonna have more tariffs on more countries that uh, go in place starting today. But what they're talking about here is the fact that we had businesses start stockpiling goods at the beginning of the Trump administration. You know, they knew the tariffs were coming. He made that abundantly clear. So before the tariffs went into place, these businesses were able to stockpile the things that they needed because they didn't want to be caught with their pants down and not have what they need. When the tariffs come in, then they gotta pay more, pass it on to consumers. So that is actually why we have not seen the massive price increases that have been obviously predicted with the tariffs.

Now we have seen some, but not to the degree that matches what the current tariffs are. So when you have people like Bill Maher, who I think two weeks ago was like, you know, I was wrong. It didn't cause the economic collapse. It thought it would. Yeah. Because as the business leaders, the people who are raising the prices and laying people off Telus, it takes time. Idiots. Yeah, you're not gonna see it immediately, but you're about to start seeing it. You've already seen a little, right, the layoffs, the small price increases, but the very people who run the businesses are telling us, y'all are about to get hit. American consumers, you are about to feel it. So for anyone who says, oh, where's the economic collapse? Unfortunately it's coming.

It doesn't mean it didn't happen or it won't happen. It just means we haven't felt the worst of it yet. And this is not something that anybody should be excited about or that anybody should be proud of. We don't want this to happen. We do not want to experience an economic collapse. But these business leaders, the very same ones who admitted in a poll just a couple weeks ago, that they are passing the tariff costs on to consumers, even though many of them told Trump like, we're gonna try to eat the costs. No. In a survey that came out, I think two or three weeks ago, it's been sitting in my inbox for a while, just haven't gotten to it. 'cause of all the craziness business leaders admitted, we're passing all of it on to consumers. Like a huge majority of businesses say we're passing all of it on to consumers.