Mar 14, 2025 · 1 hr 8 min · 12 segments
Taiki is off getting married this week, but Jordi & Justin are joined by special guest Jim Bianco! Jim brings is macro expertise, and fills us in on how all of it fits into what we're seeing happen in…
Jim BiancoGuest
Jordi AlexanderHost
Justin BramHost
They're trying to lower the dollar by trying to use tariffs as a piece of leverage to try and punish or incentivize people to do things that they want to help lower the dollar, to bring back more manufacturing into the United States, to get private sector growth going faster in the United States.
And to that end, what they've done is they've identified that the size of the deficit is now a national security issue with the United States.
There's an economic historian, Neil Ferguson, and he wrote an essay in the Wall Street Journal a couple of weeks ago, and he's been saying this for months, that he's quoting another Ferguson, Adam Ferguson, who's a 17th century economist.
who said that when great powers pay more in interest costs than their defense, they stop being great powers.
And Neil Ferguson went through all of the examples throughout the last 200 years that that's happened.
brought that interest cost down below defense spending, or you stopped being a great power.
How are they going to do that? Well, they're going to do that in trying to bring back more business and having faster growth in the United States.
Where did most of that debt come from over the last 50 to 80 years? from the U.S.
being the cop of the world, from the U.S. keeping the trade routes open, fighting communism, fighting terrorism.
So Trump has been hammering all of these countries and saying, look, you got to start paying.
They're trying to lower the dollar by trying to use tariffs as a piece of leverage to try and punish or incentivize people to do things that they want to help lower the dollar, to bring back more manufacturing into the United States, to get private sector growth going faster in the United States.
And to that end, what they've done is they've identified that the size of the deficit is now a national security issue with the United States.
There's an economic historian, Neil Ferguson, and he wrote an essay in the Wall Street Journal a couple of weeks ago, and he's been saying this for months, that he's quoting another Ferguson, Adam Ferguson, who's a 17th century economist.
who said that when great powers pay more in interest costs than their defense, they stop being great powers.
And Neil Ferguson went through all of the examples throughout the last 200 years that that's happened.
brought that interest cost down below defense spending, or you stopped being a great power.
How are they going to do that? Well, they're going to do that in trying to bring back more business and having faster growth in the United States.
Where did most of that debt come from over the last 50 to 80 years? from the U.S.
being the cop of the world, from the U.S. keeping the trade routes open, fighting communism, fighting terrorism.
So Trump has been hammering all of these countries and saying, look, you got to start paying.
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