Scott Besant

So we saw a big, in the third quarter of GDP, first time in years, we saw a positive contribution to trade instead of a trade deficit.

When I started in the investment business, 1980s, 1990s, trade always had a positive contribution.

Then after the China shock, it never did.

And I think we can get used to having a positive contribution

From trade instead of, as Ross Perot said, that giant sucking sound.

Steve, it's a complete understanding.

And it goes back to, I think it was 2018, when President Trump met with the head of NATO and said, why are you doing Nord Stream 2?

You are going to regret.

You're going to regret.

They had this cheap Russian oil, and they did.

So as I continually say, the Europeans are still sending money to Russia for energy in the ultimate amount.

You couldn't make it up.

It is so absurd.

They are financing the war against themselves.

And so it's the same kind of thing that I told when we were doing the negotiations with our European partners,

Last summer, I told them, we have the tariff wall up on China, and these goods are going to come somewhere.

They're going to go to Canada, they're going to go to Australia, they're going to go to the UK, and mostly they're going to come to Europe, because the global south, the developing markets can't absorb them.

And guess what?

They've all come ashore in Europe.

And