JD Vance

Does it mean, you know, one very important metric of success, which I think you already saw in the Q1 numbers, which are way more important than this sort of weird artifact of measurement on GDP, was how much private capital investment is coming into the country? You saw a very significant increase. A lot of people poo-poo, you know, the Middle Eastern term.

They say, oh, well, you know, these investment numbers that he's getting from foreign countries are from American companies. Those aren't real numbers, but if you look at the actual measured amount of capital investment in the country, that is on the rise. And we think that capital investment will produce factories and other companies will produce good jobs and so forth.

They say, oh, well, you know, these investment numbers that he's getting from foreign countries are from American companies. Those aren't real numbers, but if you look at the actual measured amount of capital investment in the country, that is on the rise. And we think that capital investment will produce factories and other companies will produce good jobs and so forth.

I think the best way of measuring where we're headed here is whether we still have a $1.2, $1.3 trillion trade deficit. And that to me, not next year, because it takes a while. You've got to build factories. You've got to change the trading regime with other countries. We're trying to make our exports cheaper, which by the way, give the president credit, if you look at the UK trade deal...

I think the best way of measuring where we're headed here is whether we still have a $1.2, $1.3 trillion trade deficit. And that to me, not next year, because it takes a while. You've got to build factories. You've got to change the trading regime with other countries. We're trying to make our exports cheaper, which by the way, give the president credit, if you look at the UK trade deal...

It is very, very good for us. Our manufacturers got better access to the sixth largest economy in the world. Our agricultural producers got major access in a way they've never been able to get to the sixth largest economy in the world. But all of this is, I think, in service of America making more of its own stuff, relying less on foreign countries.

It is very, very good for us. Our manufacturers got better access to the sixth largest economy in the world. Our agricultural producers got major access in a way they've never been able to get to the sixth largest economy in the world. But all of this is, I think, in service of America making more of its own stuff, relying less on foreign countries.

And the way, the best way to measure that, not the perfect way, but the best way to measure that is, are we still losing, as the president would say, $1.2, $1.3 trillion on trade?

And the way, the best way to measure that, not the perfect way, but the best way to measure that is, are we still losing, as the president would say, $1.2, $1.3 trillion on trade?

So, yes, but I think you're underweighting how much there's both a carrot and stick element to this and the Trump administration. Again, you see traditional Republicans, small government, blah, blah, blah, blah, blah. Okay, but we're talking about no tax on overtime, no tax on tips. These are things that give domestic consumers more money.

So, yes, but I think you're underweighting how much there's both a carrot and stick element to this and the Trump administration. Again, you see traditional Republicans, small government, blah, blah, blah, blah, blah. Okay, but we're talking about no tax on overtime, no tax on tips. These are things that give domestic consumers more money.

And if you combine giving domestic consumers more money with making it easier and cheaper to produce in America and more expensive to produce overseas, then that is, in our view, at least a form of industrial policy. There are other things that we're doing. Number two, massive, massive changes to the regulatory regime.

And if you combine giving domestic consumers more money with making it easier and cheaper to produce in America and more expensive to produce overseas, then that is, in our view, at least a form of industrial policy. There are other things that we're doing. Number two, massive, massive changes to the regulatory regime.

Our biggest belief, or at least mine, I don't want to speak for the president because I haven't talked to him on this issue, but I think his policy is consistent with his perspective is we actually have an industrial policy in this country. The biggest industrial policy that we have is a regulatory regime that is incredibly rewarding to...

Our biggest belief, or at least mine, I don't want to speak for the president because I haven't talked to him on this issue, but I think his policy is consistent with his perspective is we actually have an industrial policy in this country. The biggest industrial policy that we have is a regulatory regime that is incredibly rewarding to...

software to the world of bits, as Peter Thiel and Tyler Cowen might say, and is incredibly punitive in the world of atoms. We would like to reverse that or at least equalize it. If you look at what we're trying to do on the regulatory regime, we're trying to make it so much easier to produce things in the real world, not just to write code as important as that can be.

software to the world of bits, as Peter Thiel and Tyler Cowen might say, and is incredibly punitive in the world of atoms. We would like to reverse that or at least equalize it. If you look at what we're trying to do on the regulatory regime, we're trying to make it so much easier to produce things in the real world, not just to write code as important as that can be.

That is a form of industrial policy to that point. I think our energy policy is a form of industrial policy because that's the most important cost input, especially for high-value-added manufacturing. And then the final point here, give us some credit here because, you know, what our Secretary of the Army did two weeks ago didn't get a whole lot of headlines, but he's completely right.

That is a form of industrial policy to that point. I think our energy policy is a form of industrial policy because that's the most important cost input, especially for high-value-added manufacturing. And then the final point here, give us some credit here because, you know, what our Secretary of the Army did two weeks ago didn't get a whole lot of headlines, but he's completely right.

rejiggering the Army's procurement process because we see industrial policy. We have a trillion dollar industrial policy at the Department of Defense that's rewarded slow incumbents instead of innovation and technology.