Economics

Democrats, Economics

Janet Yellen Calls Trump’s American Manufacturing Comeback a “Pipe Dream,” Not Worth Pursuing

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Image Credit: © Jack Gruber-USA TODAY

Former Treasury Secretary Janet Yellen downplayed the feasibility of reviving American manufacturing during a recent interview, calling the idea a “pipe dream” and questioning whether it should even be a “desirable goal.”

As Breitbart reported, the remarks come at a time when major tech companies are investing heavily in U.S.-based production, challenging her position.

Treasury Secretary Janet Yellen speaks during the McCain Institute’s 2024 Sedona Forum at Enchantment Resort on May 3, 2024 in Sedona.

Yellen, who led the Federal Reserve from 2014 to 2018 and later served as President Joe Biden’s Treasury Secretary from 2021 to 2025, made the comments Monday during an appearance on CNBC’s Squawk Box.

She criticized the impact of former President Donald Trump’s reciprocal tariff policy, suggesting it created uncertainty for businesses and households.

“Things have been just chaotic,” Yellen said. “The reciprocal tariffs put on and paused … This is really creating an environment in which households and businesses feel paralyzed by the uncertainty about what’s going to happen — it makes planning almost impossible.”

When asked about the future of domestic production, Yellen dismissed the idea of bringing back American manufacturing, saying:

“Perhaps it’s to bring back American manufacturing, but I really think that’s a pipe dream, and not something that is likely to be accomplished. And we could even raise questions about whether or not, in a broad-based way, that’s a desirable goal.”

Her remarks sparked swift backlash from conservatives, including Kentucky businessman Nate Morris, a potential Republican Senate candidate.

“The very same leftwing elites who are responsible for gutting our manufacturing base, screwing over our workers and building up the Chinese Communist Party,” Morris wrote on X, “are upset because President Trump is committed to putting America First and ending their globalist agenda.”

Yellen had previously criticized Trump’s economic strategy during an interview last week on CNN, where she described the Trump-era tariffs as “the worst self-inflicted policy wound I’ve ever seen in my career inflicted on our economy.”

“The Trump tariff plans are doing immense damage to our economy,” she told CNN’s Anderson Cooper during her first televised interview since President Trump returned to office.

Despite her remarks, American investment in domestic manufacturing continues to surge.

On the same day as Yellen’s comments, tech giant Nvidia revealed plans to expand its AI operations within the U.S. The company announced it will build AI supercomputers in Texas and invest up to $500 billion into American AI production infrastructure.

“The engines of the world’s AI infrastructure are being built in the United States for the first time,” said Nvidia founder and CEO Jensen Huang.

“Adding American manufacturing helps us better meet the incredible and growing demand for AI chips and supercomputers, strengthens our supply chain and boosts our resiliency.”

The contrast between Yellen’s skepticism and Nvidia’s multibillion-dollar commitment highlights an ongoing divide over the future of U.S. industrial policy under the renewed America First agenda.

Watch the full interview:

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Economics

Trump Smacks Down Bloomberg Reporter’s “Stupid” Anti-Tariff Question in Midflight

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President Donald Trump responded forcefully to a question from a Bloomberg reporter on Sunday regarding the potential economic impact of his administration’s tariff policies.

The exchange occurred during a press availability aboard Air Force One, just days after the rollout of sweeping reciprocal tariffs referred to by the administration as “Liberation Day.”

Annmarie Hordern of Bloomberg asked President Trump whether there was a point at which he would reconsider his tariff strategy if it caused continued market declines.

“I think your question is so stupid,” Trump said.

“I mean it, I think it’s a— Uh, I don’t want anything to go down. But sometimes you have to take medicine to fix something.”

Trump went on to defend the tariffs as a necessary step to protect American workers and businesses, placing blame on prior administrations for trade policies that, in his view, contributed to the erosion of U.S. manufacturing and economic strength.

“We have been treated so badly by other countries because we had stupid leadership that allowed this to happen,” Trump said.

“They took our businesses, they took our money, they took our jobs. They moved it to Mexico. They moved it to Canada. They moved a lot of it to China and it’s not sustainable. We’re not gonna do it.”

Trump credited his tariff policies with generating new revenue for the United States and attracting global attention.

“Now we have hundreds of billions of dollars pouring into our country on a monthly basis. It’s pouring. It’s already started because I put tariffs on,” Trump said. “And eventually it’s gonna straighten out, and our country will be solid and strong again.”

The administration’s recent tariff actions have triggered a broad response worldwide.

More than 50 countries have signaled interest in negotiations to avoid new U.S. tariffs, according to Agriculture Secretary Brooke Rollins.

“We already have 50 — five-zero — countries that have come to the table over the last few days, over the last weeks, that are willing and desperate to talk to us,” Rollins told CNN’s Jake Tapper on Sunday morning.

“We are the economic engine of the world, and it’s finally time that someone, President Trump, stood up for America.”

Rollins addressed concerns raised by critics who argue that the tariffs could damage the stock market or increase prices for consumers.

She said such concerns are politically motivated and do not reflect the broader benefits of the policy shift.

“This is about putting America first,” Rollins said, pointing to trade imbalances and longstanding barriers faced by U.S. exporters.

She cited examples such as Mexico’s past refusal to buy American corn and Australia’s restrictions on U.S. beef imports.

Rollins also emphasized that the administration’s broader strategy includes not only tariffs but also deregulation, tax cuts, and policies aimed at achieving energy independence.

She described the approach as a comprehensive economic reset modeled on principles of national self-reliance and security.

When asked if the tariffs are intended to be permanent, Rollins said they are part of a longer-term national strategy to reshore jobs and restore industrial strength.

The administration’s tariff actions follow years of trade deficits and complaints from U.S. industries and labor groups about unfair practices by foreign competitors.

Trump’s latest round of tariffs applies reciprocal surcharges on a wide range of imports from countries that impose barriers on American goods.

Further negotiations are expected in the coming weeks as other nations seek exemptions or new trade agreements.

For now, the administration remains firm in its position, asserting that the measures are necessary to reestablish economic fairness and protect U.S. sovereignty in global trade.

Please visit RVM News for more stories like this.

Democrats, Economics

Whitmer’s Michigan Spent $670 Million on Corporate Welfare — Zero Jobs Created After Three Years!

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Three years after lawmakers created the Strategic Outreach Attraction Reserve Gov. Gretchen Whitmer said would “create tens of thousands of good paying jobs,” not a single one has materialized.

Michigan taxpayers have shelled out more than $670 million to five multibillion companies to prop up the electric vehicle and renewable energy industries in Michigan with a promise to create a total of 8,812 jobs, but a report from the Michigan Economic Development Corporation that oversees the spending shows zero “actual qualified jobs created.”

“The program was poorly designed from the start,” said James Hohman, director of fiscal policy at the Mackinac Center for Public Policy. “It allows companies to cash in on taxpayer subsidies without having to create jobs. Lawmakers must wait years to ask for taxpayer money back if deals fail to deliver. It’s good that House lawmakers are working to redirect this money to roads.”

Read the full article at The Midwesterner

Economics

World Disappointed As Leftists Fake Dying in Protest at Stock Exchange

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Liberal protestors have upped their game since the days of now quaint-seeming sit-ins on college campuses. There’s a furore over whether the Trump administration is right to deport green-card-holding non-citizen Mahmoud Khalil for what it says is his support for terrorist organizations like Hamas. The controversy shows how far we’ve traveled from what anyone would call peaceful protest to, today, students taking over campus buildings, breaking windows, and preventing other students from walking freely on campuses like Columbia where Khalil was active. 

When did “protest” become synonymous with criminal vandalism and threats and intimidation aimed at fellow students? It’s been at least since 2020, when Black Lives Matter “protestors” rioted in cities across the U.S., burning public and private buildings, cars, and more. The “protests” caused more than $1 billion in damage (that’s just counting the insurance claims), the most in U.S. history. The leftist media showed its naked contempt for reality and viewers, of course, by labeling the violence as “mostly peaceful.” CNN was widely ridiculed for showing live images of a burning city while the on-screen label called the violence “fiery but mostly peaceful protests”. 

For modern protestors who don’t want to go all the to violence, but who instead want to appear to be “victims,” we have a melodramatist’s delight: the “die-in.” This is where demonstrators lie on the ground pretending to be dead in the mistaken belief that such a histrionic display will convince onlookers that their cause is righteous. 

A group of Democrat theater kids just held a die-in in front of the New York Stock Exchange. They were “dying” in protest of what  they claim were acts of harm done to them by President Trump, and especially by Elon Musk as he slashes through wasteful government spending. 

Let’s take a look at the “gravestones” and see what they indicate about the protestors’ frame of mind. 

“Fatal infection-abortion ban”—It was abortion bans that drove them to it, see? The woman had no responsibility for getting pregnant. 

“Elon fired bird flu monitoring”—You got that? There weren’t enough monitors for bird flu, so humans are dying of a bird flu that doesn’t affect humans. 

“SNAP cuts killed me”— “SNAP” (Supplemental Nutrition Assistance Program) is the new word so no one has to say “food stamps.” Apparently changes to the program killed the protestor despite the fact that he or she does not appear to be starving in the video. 

Let’s see what X/Twitter thought of this latest set piece. We’ve got a few comedians:

What did I say about theater kids? 

Economics

Whitmer’s Michigan: Unemployment Climbs for 10th Straight Month to 5.3%

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Michigan’s critical manufacturing industry shed 20,000 jobs over the last year, including at least 4,000 so far in 2025, as unemployment continued to tick up to 5.3% in January.

“The number of unemployed people in Michigan is going up. It has been going up for the past year or so. That’s not unexpected with the news we’ve been hearing with the weakness in manufacturing and retail trade,” Michigan Labor Market Information Director Wayne Rourke told WEMU. “Those are particularly weak industries for Michigan right now.”

Data from the Department of Technology, Management and Budget released Thursday show the number of unemployed Michiganders increased for the 10th consecutive month in January, when another 6,000 lost their jobs.

Compared to the year prior, there were 67,000 more residents without a job in January, marking a 33.3% jump from the same month in 2024. The continued job losses in Michigan come despite a national decline in unemployment of one tenth of a percentage point in January to 4%.

Read the full article at The Midwesterner for more stories like this.

Economics

Trump Threatens 200% Tariffs Against “Hostile and Abusive” European Union

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Trump Threatens 200% Tariffs Against 'Hostile and Abusive' European Union

President Donald Trump threatened the European Union (EU) with crushing tariffs if it does not lift “a nasty 50% Tariff on Whisky.”

The president, who described the EU as “one of the most hostile and abusive taxing and tariffing authorities in the World,” said he would place a 200% tariff if the globalist Union did not remove theirs.

“If this Tariff is not removed immediately, the U.S. will shortly place a 200% Tariff on all WINES, CHAMPAGNES, & ALCOHOLIC PRODUCTS COMING OUT OF FRANCE AND OTHER E.U. REPRESENTED COUNTRIES,” Trump warned.

The EU implemented tariffs on $28 billion worth of U.S. goods as a countermeasure to President Trump’s increased tariffs on foreign steel and aluminum imports. The EU targeted bourbon, jeans, and motorcycles, which appeared to be designed to harm globally popular American brands. However, tariffs on metal imports to the U.S. were not targeted at the EU but took effect globally, imposing a 25 percent levy on various metal items.

Tariffs in several areas have often been unbalanced in the EU’s favor. For example, the EU imposed 0 percent tariffs on American cars while the U.S. imposed only 2.5 percent tariffs on European cars.

The Hill reported:

A trade war with Europe was escalated Wednesday when Trump’s 25 percent tariffs on steel and aluminum took effect, leading the EU to swiftly retaliate with a two-step approach.

The European trading bloc, which is made up of 27 nations, said it will allow the suspension of existing 2018 and 2020 countermeasures against the U.S. to expire April 1. That would allow for 50 percent tariffs on American whiskey, which were suspended, to automatically go into effect.

Second, the commission is proposing a new package of countermeasures on goods coming from the U.S. that will go into effect in mid-April, covering some $28 billion in imports in total.

Chris Swonger, CEO of the Distilled Spirits Council, urged Trump to make a deal with the EU to prevent escalation.

“The U.S.-EU spirits sector is the model for fair and reciprocal trade, having zero-for-zero tariffs since 1997,” he said.

“We urge President Trump to secure a spirits agreement with the EU to get us back to zero-for-zero tariffs, which will create U.S. jobs and increase manufacturing and exports for the American hospitality sector. We want toasts not tariffs.”

On Wednesday, Swonger warned that a European whiskey tariff would be “very, very devastating.”

“We’ve just gotten the news early, early this morning, that the [EU] is poised to put a 50 percent tariff on American whiskey,” Swonger told NewsNation’s Nichole Berlie.

“That will be very, very devastating.”

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Economics

Whitmer’s Michigan Remains In Bottom 10 Of ‘Best States’ — Falls To 42nd

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Ranked in bottom half of states for education, crime, and infrastructure

U.S. News & World Report recently released its annual Best States analysis, and not much has changed for the Great Lakes State. Gov. Gretchen Whitmer’s Michigan remains among the bottom 10 in the nation, well behind all states in the Midwest.

“Some states shine in health care. Some soar in education. Some excel in both – or in much more,” according to the news site. “The Best States rankings by U.S. News draw on thousands of data points to measure how well states perform for their citizens.” The rankings include a breakdown by categories: health care, crime, economy, education, fiscal stability, infrastructure, natural environment and opportunity. Michigan did not “shine,” “soar,” or “excel” in any of them.

Overall, the state ranked 42nd in the U.S. for the second consecutive year, making no progress after slipping one spot from 41st in 2023. For the second consecutive year, Michigan ranked in the bottom half of states for all categories, with its top-ranked category of opportunity in 27th place. The news site ranked Michigan 28th for the economy, 29th for health care, 30th for the natural environment, 32nd for fiscal stability, 38th for crime and corrections, and 41st for education and infrastructure.

Read the full article at The Midwesterner

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Economics

Scott Jennings Wrecks Democrat Rep with One Simple Question About Inflation

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Image Credit: © James Crisp/Special to Courier Journal via Imagn Content Services, LLC

Republican strategist Scott Jennings pressed Rep. Marilyn Strickland (D-WA) on Thursday, challenging her on why Americans should trust Democrats to address inflation after prices surged under the Biden-Harris administration. The exchange took place during a segment on CNN NewsNight, where Strickland attempted to defend her party’s economic record while Jennings pushed back on claims that Democrats could bring down the cost of living. During the discussion, Strickland faced criticism over rising consumer costs, particularly the cost of eggs, which has doubled since November 2023, according to the St. Louis Federal Reserve Bank.

The price surge was fueled by a bird flu outbreak that led to the culling of tens of millions of chickens.

Jennings dismissed Strickland’s claims that Democrats had a plan to reduce costs, challenging her on why voters should trust the party after four years of economic strain.

“Why would or should the American people trust Democrats to lower the cost of living after the last four years?” Jennings asked.

Strickland began to respond by touting job creation under the Biden administration, saying, “We have created more jobs—” before being cut off.

Jennings pushed back, redirecting the conversation to inflation: “No, no, cost of living. You brought it up. You said Trump‘s not delivering. I just want to know why we should trust Democrats who skyrocketed inflation for the last—what—why would I trust you? Why would I trust you?”

The Consumer Price Index (CPI) reached a four-decade high of 9% in June 2022, after then-President Joe Biden signed several massive spending bills into law, including the $1.9 trillion American Rescue Plan, despite warnings that it could fuel inflation. Under Biden, overall prices rose by more than 20%.

Strickland and former Biden campaign staffer Ashley Allison attempted to shift the discussion to the Trump administration’s policies. Strickland criticized the Department of Government Efficiency (DOGE), which was established by President Trump in a January 20 executive order to reduce government waste and streamline federal agencies.

The department, a rebranding of the United States Digital Service, has been working to cut bureaucratic inefficiencies.

“Donald Trump is the president. He promised to lower cost of living. He is cutting jobs across the board from civil servants who have to support their families—” Strickland argued.

Jennings countered, questioning Strickland’s stance on expanding government employment. “So you believe in government jobs? You want more government jobs?” he asked.

Strickland responded, “No, actually, I want jobs that actually help people. Do you know what civil servants do? They keep our air clean. They keep our water clean. They keep our food safe—don’t interrupt me.”

Jennings quickly replied, “They take taxpayer money to fund the whole thing.”

As the discussion became more heated, CNN NewsNight host Abby Phillip and Allison joined Strickland in defending government employees. While the three spoke over him, Jennings managed to land his final critique of the Democratic platform.

“This is the Democratic plan: More government jobs,” he concluded.

The exchange highlighted the ongoing battle between Republicans and Democrats over economic policy, government spending, and inflation, with Democrats defending a larger federal workforce while Republicans push for reducing bureaucracy and cutting costs.

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Economics

White House to Host First-Ever Cryptocurrency Summit

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The White House is set to hold its first cryptocurrency summit on Friday, with key figures in the digital asset space gathering to discuss the future of the industry under President Donald Trump’s administration.

The event comes as recent tariff threats from the president have contributed to a $400 billion loss in the crypto market over the past week.

The summit will be chaired by White House A.I. and Crypto Czar David Sacks and hosted by Bo Hines, executive director of the President’s Working Group on Digital Assets.

Read more articles like this at RVM News

Economics, Uncategorized

Stacey Abrams Becomes Latest DOGE Target After Shocking $2 Billion Payment is Exposed

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Georgia perennial candidate and Democratic organizer Stacey Abrams has found herself at the center of an investigation by the U.S. Department of Government Efficiency (DOGE) into how much her “community investment group” received from the U.S. Environmental Protection Agency.

Abrams’s liberal organization, Power Forward Communities, was slated to receive at least $2 billion in community grants from the Biden-Harris administration.

However, those payments won’t be happening, EPA Administrator Lee Zeldin said in a statement.

“I made a commitment to members of Congress and to the American people to be a good steward of tax dollars, and I’ve wasted no time in keeping my word,” Zeldin told the Washington Free Beacon.

“When we learned about the Biden administration’s scheme to quickly park $20 billion outside the agency, we suspected that some organizations were created out of thin air just to take advantage of this.”

“As we continue to learn more about where some of this money went, it is even more apparent how far-reaching and widely accepted this waste and abuse has been,” the EPA administrator continued.

“It’s extremely concerning that an organization that reported just $100 in revenue in 2023 was chosen to receive $2 billion. That’s 20 million times the organization’s reported revenue.”

Power Forward Communities was founded in October 2023 following Abrams’s failed bid for office against Gov. Brian Kemp.

Abrams is credited with helping Democrats flip Georgia’s two U.S. Senate seats during the December 2020 elections.

In January, the Georgia Ethics Commission imposed a record-breaking $300,000 fine on a voter registration group founded by Abrams for breaches of state campaign finance regulations during the 2018 elections.

During the same month, a legal entity founded by Abrams intended to oppose efforts to limit voter fraud in the 2020 elections lost a three-year court battle, resulting in a loss and an order to pay the state back $231,000 in legal costs.

Abrams’s latest pet project told the Biden EPA that it intended to dole out $2 billion to help install heat pumps, water heaters, solar panels, home battery systems, EV chargers, and weatherization upgrades.

It was the only press statement the group ever released, while Power Forward Communities reported receiving just $100 in revenue in 2023.

“For an organization that has no experience in this, that was literally just established, and had $100 in the bank to receive a $2 billion grant—it doesn’t just fly in the face of common sense, it’s out-and-out fraud,” Daniel Turner, the executive director of energy advocacy group Power the Future, alleged in an interview with the Free Beacon.

“President Trump was elected with a mandate from the American people to stop the fraud and abuse by leaders who irresponsibly shoveled boatloads of cash to far-left activist groups in the name of environmental justice and climate equity, instead of serving the American people,” Zeldin said.

“Those days are over.”

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