Jeff Stein

What he's getting at is that the American dollar has been very, very strong for quite a long time. And because the dollar has become the backstop of the global financial system... We buy imports at a very cheap rate. And while that sounds great and many economists say that it is great, our ability to buy Chinese and Vietnamese and Mexican and German exports on the cheap has hurt markets.

What he's getting at is that the American dollar has been very, very strong for quite a long time. And because the dollar has become the backstop of the global financial system... We buy imports at a very cheap rate. And while that sounds great and many economists say that it is great, our ability to buy Chinese and Vietnamese and Mexican and German exports on the cheap has hurt markets.

What he's getting at is that the American dollar has been very, very strong for quite a long time. And because the dollar has become the backstop of the global financial system... We buy imports at a very cheap rate. And while that sounds great and many economists say that it is great, our ability to buy Chinese and Vietnamese and Mexican and German exports on the cheap has hurt markets.

American manufacturing jobs and sort of hollowed out the Midwest and many parts of this country that were dependent on the ability to export to other markets.

American manufacturing jobs and sort of hollowed out the Midwest and many parts of this country that were dependent on the ability to export to other markets.

American manufacturing jobs and sort of hollowed out the Midwest and many parts of this country that were dependent on the ability to export to other markets.

And Trump is engaging in this really radical attempt to wrench the global financial system out of really the place it's held in the global financial system since the Bretton Woods agreement that followed World War II and create a system in which our manufacturing prowess returns because we're shaking up or currency and monetary agreements with the rest of the world.

And Trump is engaging in this really radical attempt to wrench the global financial system out of really the place it's held in the global financial system since the Bretton Woods agreement that followed World War II and create a system in which our manufacturing prowess returns because we're shaking up or currency and monetary agreements with the rest of the world.

And Trump is engaging in this really radical attempt to wrench the global financial system out of really the place it's held in the global financial system since the Bretton Woods agreement that followed World War II and create a system in which our manufacturing prowess returns because we're shaking up or currency and monetary agreements with the rest of the world.

That, however, is not going to be accomplished by tariffs. And it is really, really hard to imagine how Trump can undo sort of what's happened in the last 60, 70 years in three to four years. But I think it gives a clue and sort of helps explain why he keeps saying, you know, maybe we'll have to stomach some short-term pain to achieve that sort of new order.

That, however, is not going to be accomplished by tariffs. And it is really, really hard to imagine how Trump can undo sort of what's happened in the last 60, 70 years in three to four years. But I think it gives a clue and sort of helps explain why he keeps saying, you know, maybe we'll have to stomach some short-term pain to achieve that sort of new order.

That, however, is not going to be accomplished by tariffs. And it is really, really hard to imagine how Trump can undo sort of what's happened in the last 60, 70 years in three to four years. But I think it gives a clue and sort of helps explain why he keeps saying, you know, maybe we'll have to stomach some short-term pain to achieve that sort of new order.

Right now, America really benefits from something I think, you know, we kind of take for granted, which is that we are able to print huge amounts of money. I mean, our debt and deficits are sort of unparalleled in the developed world. We have, you know, $35, $36 trillion in debt. And the reason that we can do that is in part because America's dollar is viewed as such a safe asset.

Right now, America really benefits from something I think, you know, we kind of take for granted, which is that we are able to print huge amounts of money. I mean, our debt and deficits are sort of unparalleled in the developed world. We have, you know, $35, $36 trillion in debt. And the reason that we can do that is in part because America's dollar is viewed as such a safe asset.

Right now, America really benefits from something I think, you know, we kind of take for granted, which is that we are able to print huge amounts of money. I mean, our debt and deficits are sort of unparalleled in the developed world. We have, you know, $35, $36 trillion in debt. And the reason that we can do that is in part because America's dollar is viewed as such a safe asset.

And that creates demand for our debt, which allows us to, you know, afford pretty low taxes with a with the amount of government spending that we have. And that fiscal imbalance is enabled in part by America's status as sort of the global financial backer, backstop.

And that creates demand for our debt, which allows us to, you know, afford pretty low taxes with a with the amount of government spending that we have. And that fiscal imbalance is enabled in part by America's status as sort of the global financial backer, backstop.

And that creates demand for our debt, which allows us to, you know, afford pretty low taxes with a with the amount of government spending that we have. And that fiscal imbalance is enabled in part by America's status as sort of the global financial backer, backstop.

If that were to change in the world that Trump is talking about, you would see, you know, not only it get more expensive to buy foreign goods, you know, costs for American consumers would rise, but it would also lead to this really difficult relationship

If that were to change in the world that Trump is talking about, you would see, you know, not only it get more expensive to buy foreign goods, you know, costs for American consumers would rise, but it would also lead to this really difficult relationship