We just got the first hard economic data showing the effects of the war, and it shows inflation surging. Lemme take two minutes to explain what it all means while talking into a baby koala's butt.

April 10, 2026 - 15:49 UTC

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I hope these figures aren’t from the Trump administration, I can’t trust the Trump administration to tell me if it’s morning or evening
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As a Canadian this may be a good time to stop selling our energy to the US at such a discount. Americans are ripping us off and we need to make them pay. We should annex Seattle until the yanks pony up the cash.
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As a Seattle resident I heartily endorse this idea, only just let us stay, please.
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I have been an at home caregiver so I hadn’t been physically in a grocery store in over a year. This past Wednesday I was able to go to my local grocery store and was shocked to see so many empty shelves and low inventory of fresh produce. This is a chain HEB in TX, is this an anomaly or new normal?
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If you contract chlamydia you’ve only got yourself to blame.
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please put on some lip balm
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Thank you for keeping it real Justin! You’re the source we can trust! ⚖️🐨🩶
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Wait, wait‼️ Kevin said the price of 🥚🥚🥚 came down 😳
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Can we go back to “Day One”, when prices were supposed to come down?
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Thank you Justin, I always appreciate your reports. I think many of the disturbing things happening can be traced to “goals” in P25.
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Self inflicted mortal wound , what a time to be alive !!
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You had TO TO TO TO TO TO make it so that I would focus on the koala butt.
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Core inflation probably also contains some pent up price rises from the tariffs. These will get released under cover of the oil price rise I suspect.
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Don’t be silly. That’s obviously a tribble.

Soon you will have dozens of smaller tribbles.

Good video though!
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California will possibly join the new economic union that is being formed as we speak as the future is unseen
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Oil prices ☝️means fertilizer prices ☝️ means food prices ☝️

That will be another lagging effect of the war in Iran.
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Doesn't it seem low considering the energy cost increases?
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"talking into a baby koala's butt"... LOLOL! [snort] 🤣
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Could you please stop with the zooming in/out cuts? It’s jarring. Like the content, though!
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I'd be interested to know how overall trade relationships are doing at this juncture. Canada & U.S. avg daily trade is $2.5 billion. Structural relationships with the U.S. have shifted away from this regime & will continue eroding because trust is gone. Mistrust will hurt Americans for generations.
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The USPS is going to add fuel surcharges to packages. UPS and Fed Ex will follow, if they're not already doing it.
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It feels like we've been in a "K-shaped" recession for a while now. In your estimation, what is the income level where the upper diagonal stroke and lower diagonal stroke meet the stem?

Google suggests the following, which makes me wonder how Americans earning $100k could possibly be "struggling":
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Google is owned by billionaires. Don’t trust the AI fed to you. 100k a year is 70k a year is 5800 a month. Minus health care if you can get it, it’s average 4800 a month. Prices have increased approx 25-30% in the last year on consumer goods… More on gas. 100k is bullshit.
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I feel like Biden would address the inflation problem and say how hard he is working on it this administration is trying to tell you it’s ok if it goes up you just have to deal with, while simultaneously telling us it’s Biden fault and he didn’t do enough. To lower inflation
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Two ways to lower inflation: 1. Fire a lot of people and raise unemployment or 2. Raise interest rates. Democrats chose #2. MAGA chose #1.
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This is going to hurt SO much, isn't it? And we deserve it, don't we?
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95% of Americans are living in a recession or worse RIGHT NOW. Jobs are being lost, cost of goods are through the roof, rent is ridiculous, home prices are down and wages are down. Took him a year to ruin the economy. It’s only gonna get worse from here.
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How long should I wail to buy a new vehicle still using my vehicle from 2008 crash 🤔
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Get an EV. While it costs me $10–15 more a tank now to fill my 2005 Subaru, I’m still paying $0.07/kwh for 3–4 miles charging my ev at home. Around town the subi gets ~16 mpg. 16 miles on my ev costs me 28–35 cents
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Does is smell like eucalyptus?
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A++ homage to your Australian heritage; perfect microphone, no notes.
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Does the baby koala's butt talk back?)) 🤔🤭🤣😂
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it's so refreshing to get hard data without the political spin and slippery side comments intended to sway people's understanding of what is happening. I'm speaking specifically about Rick Santelli and the fog machine over at CNBC. Thanks for keeping us informed.
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Thanks for your honesty
Sensitivity on the issue is good too
Cruel regime, people need support
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I don't get why core inflation excludes food and energy. That's my entire life right there. Going to the grocery store and filling up my car to get to gigs.

And I'm not the only one. This is hurting way more than the numbers indicate.
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Thanks for the economic data. All I could think about was the baby koala!
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We can expect the Trump team to blame this on Biden. Unfortunately, many (most?) economists will succumb to confirmation bias and blame it on the deficit. This is a great opportunity for the profession to clearly distinguish between supply shocks and the deficit on inflation and I’d love to see it!
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I lived through and have studied the 1970s version of these events. The economic profession took the wrong lessons from the period which has driven 50 yrs of bad policies. The pandemic data was interpreted through that same confirmation bias. Hopefully, we can now correct that error.
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You know you could just pin the mic to your shirt without the wind shield rather than looking like a giant eating a furry icecream.
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