Tariff Tantrum: How Bad Policy is Wrecking Your Wallet

BEP Narrator: 00:00:02

A Black Executive Perspective.

2

: 00:00:04

Now presents need to know with

the award-winning hyphenated Dr.

3

: 00:00:08

Nsenga Burton, Dr.

4

: 00:00:09

Burton.

5

: 00:00:10

What do we need to know?

6

: 00:00:13

Dr. Nsenga Burton:

7

: 00:00:13

Good afternoon and welcome

to Need To Know with Dr.

8

: 00:00:16

Nsenga Burton.

9

: 00:00:17

I am she and I am happy to be here today.

10

: 00:00:20

Like many of you all, I have been paying

close attention to these tariffs that the

11

: 00:00:25

47, I won't say his name anymore 'cause

I just feel like it's like Candyman.

12

: 00:00:29

If you say it too many times in a row,

something's gonna show up in front of you.

13

: 00:00:33

So, um.

14

: 00:00:34

We don't need Candyman 'cause

we see the price of everything

15

: 00:00:38

showing up in front of us.

16

: 00:00:39

Um, so, you know, gas showing up

in front of us, all the things

17

: 00:00:43

that were supposed to go down.

18

: 00:00:44

Right.

19

: 00:00:44

That you all voted for him.

20

: 00:00:45

Those of you who voted for him.

21

: 00:00:46

'cause I know all of us did not.

22

: 00:00:48

Many of us did not.

23

: 00:00:49

And the more we learn about the election,

it's, it is a little questionable, but.

24

: 00:00:52

About how many of you all

actually did vote for him.

25

: 00:00:55

But I'm not a conspiracy theorist.

26

: 00:00:56

I'm waiting for more data to come

out before I start throwing, uh,

27

: 00:00:59

throwing out that information.

28

: 00:01:01

But for what we do know, these

tariffs are going to have ridiculously

29

: 00:01:05

horrible, um, effects on us.

30

: 00:01:09

So some of you might have

been checking your 401k.

31

: 00:01:12

It is in the toilet.

32

: 00:01:13

I looked at mine and I was like, wow.

33

: 00:01:16

I am gonna die at work because I used

to be like, I'm probably gonna die at

34

: 00:01:21

work 'cause I have to work so much.

35

: 00:01:22

'cause I, you know, I chose to be an

artist and a creative and an educator,

36

: 00:01:26

all the things that do not pay well.

37

: 00:01:29

And so I said, I'm probably

gonna die at work, you know?

38

: 00:01:31

And then I looked at it and I

say, oh, I am gonna die at work.

39

: 00:01:34

Like, legit, I'm gonna die at work.

40

: 00:01:36

So anyway.

41

: 00:01:36

Um, and people keep saying,

oh, but you can make it back.

42

: 00:01:40

You can make it back.

43

: 00:01:41

Yeah, but why should I have

to, why should I have to?

44

: 00:01:44

I mean, I've worked very

long and hard many years.

45

: 00:01:47

I've had a job since I was 15 years old,

um, and have not, had, not had a job

46

: 00:01:51

or been doing something, um, even in my

periods of underemployment, you know?

47

: 00:01:56

Um, and I paid into all the

systems social security, which

48

: 00:01:59

they keep saying is optional or is

like, I don't even understand how

49

: 00:02:03

you can tell people why people.

50

: 00:02:05

Think that social security is

not something they paid into

51

: 00:02:08

every time they had a job.

52

: 00:02:09

Like, that's crazy to me.

53

: 00:02:10

Like you don't know history and you

don't know how your money works.

54

: 00:02:12

How money works.

55

: 00:02:14

Um.

56

: 00:02:15

But I say that to say these tariffs

are not going away, uh, anytime soon.

57

: 00:02:21

And know, I think he's gonna

have to turn it around.

58

: 00:02:23

You know, if you do basic

economics, basic, not complicated.

59

: 00:02:30

Not, uh, Oxford level, not the

London School of Economics, just.

60

: 00:02:34

Basic, that one economics course you

had to take to get your college degree.

61

: 00:02:37

If you had to take one or those basic,

um, government economics courses

62

: 00:02:41

you had to take in high school, um,

if you had AP classes or whatever.

63

: 00:02:45

Um, the point is they're gonna

have to go away 'cause we're not

64

: 00:02:48

gonna be able to sustain them.

65

: 00:02:49

And he keeps saying that this

is gonna be a little bit pain

66

: 00:02:52

again, here we go with that pain.

67

: 00:02:54

It's just gonna hurt a little bit

now, but it'll be great later.

68

: 00:02:57

Well, we're not all Trump,

we're not billionaires, so

69

: 00:03:00

people aren't like lined up to.

70

: 00:03:02

Do deals with us, um, so that we

can be the next man and candidate.

71

: 00:03:06

We're not trying to be president

of the United States, so I can't

72

: 00:03:09

be bankrupted seven times and

think that somebody's gonna then

73

: 00:03:12

hand me money to to pay my bills.

74

: 00:03:14

Like that just does not

happen for the regular person.

75

: 00:03:16

Even people who are, who are

so-called middle class people

76

: 00:03:19

are, check away from poverty.

77

: 00:03:20

Because the cost of everything, whether

you talk about housing, whether you

78

: 00:03:24

talk about, uh, automobiles, those are

gonna go up too, like exponentially.

79

: 00:03:30

Um, you know, whether you talk about

groceries, you know, people were

80

: 00:03:33

talking about eggs for a while.

81

: 00:03:34

Um.

82

: 00:03:36

All of these things, we have to have them.

83

: 00:03:38

And you know you have to work

because you have to pay for things.

84

: 00:03:41

The United States is incredibly

expensive, even when you live in poverty.

85

: 00:03:44

And there are people who go to work every

single day and still do not make enough

86

: 00:03:49

money to pay their bills because they

do not make what we call a livable wage.

87

: 00:03:55

All right.

88

: 00:03:56

So, um, what I mean by that, I,

uh, I was at a bar this weekend.

89

: 00:04:02

I was hosting an event there, and this

gentleman said, um, to this guy, he had

90

: 00:04:07

been there for 15 years, and the guy's

like, oh, you must be making great money.

91

: 00:04:11

Now I'm overhearing this.

92

: 00:04:12

I'm listening ear hustling.

93

: 00:04:14

And he says, Nope, $5 an

hour, and then whatever.

94

: 00:04:16

I'm making tips.

95

: 00:04:18

So I'm sitting there thinking,

wow, if you've been there for 15

96

: 00:04:20

years, you should be a manager.

97

: 00:04:23

You should have some ownership, should

have a stake in this, uh, ownership.

98

: 00:04:27

If it's owned by a chain or conglomerate

of some sorts, you should have stock.

99

: 00:04:31

Like, what the heck?

100

: 00:04:32

Like, and he was, this dude was excellent.

101

: 00:04:35

He's the person I was working with.

102

: 00:04:36

He's excellent.

103

: 00:04:37

My point is this, and you're

like, what is your point?

104

: 00:04:40

The tariffs.

105

: 00:04:42

The tariffs are going to cost us

and that would be the consumer.

106

: 00:04:46

'cause they're gonna basically.

107

: 00:04:48

Cost businesses a lot more money and

those businesses are gonna pass, pass

108

: 00:04:52

on those additional costs to consumers.

109

: 00:04:54

And that's why it's gonna cost us money.

110

: 00:04:56

'cause at the end of the day,

it always gets passed on to us.

111

: 00:04:59

And so we're out here trying

to make a living, trying to be,

112

: 00:05:02

uh, productive citizens, trying

to do the best that we can.

113

: 00:05:05

You know, um, trying to have these jobs,

some of which don't even have benefits.

114

: 00:05:09

Some of them, you know, if you

have a baby, you get a week off.

115

: 00:05:12

Like, 'cause we don't even have

that covered in the United States.

116

: 00:05:14

All kinds of things.

117

: 00:05:16

Um.

118

: 00:05:17

We're out here trying to, to live and

you have these billionaires and these

119

: 00:05:21

technocrats 'cause that's what they are.

120

: 00:05:22

They just really believe that

technology drives everything.

121

: 00:05:24

And, you know, forget all the other

people who are not technologically

122

: 00:05:27

driven or who aren't billionaires

who haven't made their money.

123

: 00:05:30

Um, you know, out there in uh,

Silicon Valley or whatever.

124

: 00:05:34

Forget everybody else, just.

125

: 00:05:35

Leave them behind.

126

: 00:05:36

We're just gonna take these rocket

ships and go live somewhere out in

127

: 00:05:38

space and forget the rest of y'all.

128

: 00:05:41

Um, we, we'll leave you behind.

129

: 00:05:43

So they don't care about it because

they are gonna make their money back.

130

: 00:05:46

And, you know, having billions and

billions and billions of dollars is

131

: 00:05:49

very different, you know, and at your

disposal, even when you bankrupt your

132

: 00:05:52

company seven times and people are still

like throwing money at you, even when

133

: 00:05:57

you're a convicted felon and people

are like, Hey, here's more money.

134

: 00:06:00

Um, even.

135

: 00:06:01

Even when you have been found to

have, uh, broken the law multiple

136

: 00:06:04

times, 34 times, people are like,

Hey, here's more money for you.

137

: 00:06:08

That does not happen

to the average person.

138

: 00:06:10

That doesn't happen to the average

white person, let alone the average,

139

: 00:06:13

uh, historically disenfranchised person.

140

: 00:06:16

So what I need you to know is that.

141

: 00:06:21

What I need you to know, what I need

my dogs to know is to stop barking.

142

: 00:06:24

I'm on this podcast, but what I need you

to know is that these tariffs are going

143

: 00:06:29

to have really bad consequences for us,

and I don't know why people are not more

144

: 00:06:35

in the streets than they already were.

145

: 00:06:37

Right.

146

: 00:06:38

If this president does not walk this

back, we cannot afford to be, um,

147

: 00:06:43

saying, oh, hey, here, I'm gonna

put a hundred percent tariff on you.

148

: 00:06:46

Okay, no problem.

149

: 00:06:47

I'm gonna do a hundred

percent tariff on you.

150

: 00:06:49

I mean, like a pissing match.

151

: 00:06:50

And it's like, just take your

penises out, measure 'em, and

152

: 00:06:53

leave the rest of us out of it.

153

: 00:06:54

We don't have nothing to do with this.

154

: 00:06:56

So you and Chyna.

155

: 00:06:57

And you and, and you know, these African

countries you're trying to obliterate for

156

: 00:07:01

whatever reasons, you know, 'cause I'm

like, it's not a flex in my mind anyway,

157

: 00:07:06

to obliterate countries that are on

the brink of distinction of extinction.

158

: 00:07:09

Anyway, that's not a

flex, that's a bully move.

159

: 00:07:13

That's a a mean man move.

160

: 00:07:14

That's not a power move.

161

: 00:07:16

That's some bitch acid

ness to the highest level.

162

: 00:07:18

Um, it really shows who you

are and we know who you are.

163

: 00:07:22

And that's a scared little boy trying

to have little tantrums and take

164

: 00:07:26

out his anger in violent ways on

the American public because we don't

165

: 00:07:30

love you enough, and we won't love

you through your foolishness, your

166

: 00:07:33

tirades, and your very poor decision

making, which you will continue

167

: 00:07:36

to do until you go into the grave.

168

: 00:07:38

So what I need you all to know is that you

have got to contact your Congress people.

169

: 00:07:44

I don't care which party you are

in, especially if you're Republicans

170

: 00:07:49

and you have got to contact your,

uh, Congress people and, and, and

171

: 00:07:52

let them know they have got to put

some pressure on this president.

172

: 00:07:54

We have three branches

of government as we see.

173

: 00:07:58

One of 'em is working hand

in hand with the president.

174

: 00:08:00

That would be the Supreme

Court, so they're no good.

175

: 00:08:02

Don't even think about the Supreme

Court, it's gonna come to save you.

176

: 00:08:04

They're not coming to save you.

177

: 00:08:06

That's unfortunate because in the three

branches of government, it is the ju,

178

: 00:08:10

the judicial branch that typically is

in place to save us from ourselves, to

179

: 00:08:15

save the executive branch from itself, to

save the legislative branch from itself.

180

: 00:08:20

It is the judicial branch.

181

: 00:08:22

Unfortunately, our judicial branch, at

least at that level, the federal level.

182

: 00:08:27

Uh, the Supreme Court level,

um, is not doing that.

183

: 00:08:30

They're in lockstep with the president.

184

: 00:08:32

So thus, and so we have to do

what we can do with the other,

185

: 00:08:37

within the other branches.

186

: 00:08:38

Executive branch, you can't do nothing.

187

: 00:08:40

Legislative branch, you might be able

to do something because if we can

188

: 00:08:43

flip these seats, then you can apply

pressure and then it makes it harder

189

: 00:08:47

for the president to get things done.

190

: 00:08:49

Alright?

191

: 00:08:50

So I need you to know that

you still have some power.

192

: 00:08:53

Do not give up.

193

: 00:08:54

Don't throw your hands up and

be like, I'm just gonna have

194

: 00:08:56

to pay $15 for a dozen eggs.

195

: 00:08:59

Stop eating eggs.

196

: 00:09:01

You're not gonna have to worry about it.

197

: 00:09:02

'cause they're not gonna even

be able to be produced after

198

: 00:09:04

we finished with these tariffs.

199

: 00:09:05

'cause so many farms are

gonna go outta business.

200

: 00:09:07

You're probably not gonna even have eggs.

201

: 00:09:09

And if you have them, they're

gonna be like sky high.

202

: 00:09:11

They're gonna be even more than the

$15 that they are in California.

203

: 00:09:14

Uh, the $12 that they

are in Maryland and dc.

204

: 00:09:17

Um, so.

205

: 00:09:19

You know, just figure out how

you're gonna make stuff without 'em.

206

: 00:09:22

'cause they're going away.

207

: 00:09:23

A lot of your, your things

that you thought of as basic

208

: 00:09:25

necessities, they're gonna go away.

209

: 00:09:27

Um, because you're not gonna be

able, they're not gonna be able

210

: 00:09:30

to afford to even give them to us

the work that's going into them.

211

: 00:09:33

They're not gonna even be able

to afford the people to pay.

212

: 00:09:36

Um, and we are not gonna

be able to afford it.

213

: 00:09:38

Once it gets on our shelves, we're

not gonna be able to afford it 'cause

214

: 00:09:40

we're not gonna be making any money.

215

: 00:09:42

People are being very, um.

216

: 00:09:44

Careful about adding jobs, right?

217

: 00:09:47

People are being very careful about adding

more money to salaries, things of that

218

: 00:09:51

nature, because these tariffs are coming.

219

: 00:09:53

So we're in a scarcity mindset,

and when that happens, nobody wins.

220

: 00:09:58

All right?

221

: 00:09:58

So I need you to know I.

222

: 00:10:00

You have power, contact your, uh,

your, uh, senators and, and, uh, your

223

: 00:10:05

congress people, your representatives,

and let them know that you will not

224

: 00:10:09

stand for this foolishness and that

they have got to do something to apply

225

: 00:10:13

pressure to this president to get him

to walk back some of these terrorists.

226

: 00:10:17

And that's it.

227

: 00:10:19

So thank you for tuning in to

another Need to Know with Dr.

228

: 00:10:21

ING Burton.

229

: 00:10:23

I hope to see you again next week.

230

: 00:10:25

Please join another Black.

231

: 00:10:27

Why, why do I keep calling it

another, like, it's another world.

232

: 00:10:30

I don't know what's wrong

with me, Tony, forgive me.

233

: 00:10:32

But please join A Black

Executive Perspective podcast.

234

: 00:10:35

It is award-winning

next Thursday with Tony.

235

: 00:10:38

I'm Chris, um, and I will see you

next week with more need to know

236

: 00:10:41

facts to help make your life.

237

: 00:10:43

Better

238

: 00:10:48

BEP Narrator: A Black

Executive Perspective.