Jeff Stein

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

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

rebalancing of our fiscal situation which could be quite painful because it would require either major tax hikes or cuts to spending programs that people really depend on whether that loss could be offset by the increase in American exports is a tricky bet but it's such a profound transformation that it's really hard to even imagine what that could look like

rebalancing of our fiscal situation which could be quite painful because it would require either major tax hikes or cuts to spending programs that people really depend on whether that loss could be offset by the increase in American exports is a tricky bet but it's such a profound transformation that it's really hard to even imagine what that could look like

rebalancing of our fiscal situation which could be quite painful because it would require either major tax hikes or cuts to spending programs that people really depend on whether that loss could be offset by the increase in American exports is a tricky bet but it's such a profound transformation that it's really hard to even imagine what that could look like

We've really seen, I mean, during the campaign, it was an interesting phenomenon because voters kind of liked the tariff talk. We would do stories that called into question whether Trump's tariffs would have crippling effects for the global economy. But the polls were very clear that voters largely supported Trump's tariffs.

We've really seen, I mean, during the campaign, it was an interesting phenomenon because voters kind of liked the tariff talk. We would do stories that called into question whether Trump's tariffs would have crippling effects for the global economy. But the polls were very clear that voters largely supported Trump's tariffs.

We've really seen, I mean, during the campaign, it was an interesting phenomenon because voters kind of liked the tariff talk. We would do stories that called into question whether Trump's tariffs would have crippling effects for the global economy. But the polls were very clear that voters largely supported Trump's tariffs.

And they believed him when he said that they were taxes on foreign countries, not Americans, even though that's not really true. In the last few weeks, because of the massive uncertainty that Trump has created, we've seen voters begin to sour on the tariffs.

And they believed him when he said that they were taxes on foreign countries, not Americans, even though that's not really true. In the last few weeks, because of the massive uncertainty that Trump has created, we've seen voters begin to sour on the tariffs.

And they believed him when he said that they were taxes on foreign countries, not Americans, even though that's not really true. In the last few weeks, because of the massive uncertainty that Trump has created, we've seen voters begin to sour on the tariffs.