Steven

No serious economist thinks that you should have a trade war. And the thing is, this is not new. We've been doing this for hundreds of years. And it's very well known that in the 1930s, the Great Depression, we put huge tariffs on in the early days of the Great Depression. They didn't know it was called the Great Depression back then because we put them on and it shut down global trade.

No serious economist thinks that you should have a trade war. And the thing is, this is not new. We've been doing this for hundreds of years. And it's very well known that in the 1930s, the Great Depression, we put huge tariffs on in the early days of the Great Depression. They didn't know it was called the Great Depression back then because we put them on and it shut down global trade.

And it's easy to think that if you put tariffs on your own country, that will make it easier to manufacture. Like all those jobs that we shipped overseas of building cars, they're all going to come rushing back to America. And it very rarely happens like that when you have a trade war. But what I mean by trade war is we put tariffs on China, they respond to put tariffs on us.

And it's easy to think that if you put tariffs on your own country, that will make it easier to manufacture. Like all those jobs that we shipped overseas of building cars, they're all going to come rushing back to America. And it very rarely happens like that when you have a trade war. But what I mean by trade war is we put tariffs on China, they respond to put tariffs on us.

And you just go tit for tat and you go back and forth. And it's like mutually assured destruction in economic terms.

And you just go tit for tat and you go back and forth. And it's like mutually assured destruction in economic terms.

To his credit, Trump has been very consistent on this for literally 40 years. You can go on YouTube. He gave an interview in, I think it was 1986. He went on Oprah in 1986 talking about how free trade wasn't free and that Japan and other countries were ripping us off and that the solution to it were tariffs. So this is not a new view. This has been a lifelong quest that he's had.

To his credit, Trump has been very consistent on this for literally 40 years. You can go on YouTube. He gave an interview in, I think it was 1986. He went on Oprah in 1986 talking about how free trade wasn't free and that Japan and other countries were ripping us off and that the solution to it were tariffs. So this is not a new view. This has been a lifelong quest that he's had.

I would say not necessarily Trump's views, but I would say it absolutely makes sense that there is a large chunk of America that looks back to the period of 1950s, 1960s when we were a manufacturing powerhouse and says that was better than what we have now and we should go back to that.

I would say not necessarily Trump's views, but I would say it absolutely makes sense that there is a large chunk of America that looks back to the period of 1950s, 1960s when we were a manufacturing powerhouse and says that was better than what we have now and we should go back to that.

I get why people would say that because it's true that we have lost a lot of manufacturing jobs in the last 50 years. I think manufacturing jobs peaked in the late 1970s. And we've lost something like 10 million manufacturing jobs versus what we had back then. And I get why if I was in that situation, I would probably feel the same.

I get why people would say that because it's true that we have lost a lot of manufacturing jobs in the last 50 years. I think manufacturing jobs peaked in the late 1970s. And we've lost something like 10 million manufacturing jobs versus what we had back then. And I get why if I was in that situation, I would probably feel the same.

Where I'd push back is the situation that we had in the 1950s and 1960s, where it was just America manufacturing powerhouse, were a very unique period that I think is virtually impossible to bring back. And I'll tell you why. At the end of World War II, 1945, Europe and Japan were in rubble. They were decimated from the war. America was not decimated whatsoever.

Where I'd push back is the situation that we had in the 1950s and 1960s, where it was just America manufacturing powerhouse, were a very unique period that I think is virtually impossible to bring back. And I'll tell you why. At the end of World War II, 1945, Europe and Japan were in rubble. They were decimated from the war. America was not decimated whatsoever.

And so we had basically a global manufacturing monopoly for a period of time. China was not in the equation. South Korea was not in the equation. India, Bangladesh, they were not in the equation. It was basically Japan, the United States, and Europe, two of which were just struggling to feed their citizens.

And so we had basically a global manufacturing monopoly for a period of time. China was not in the equation. South Korea was not in the equation. India, Bangladesh, they were not in the equation. It was basically Japan, the United States, and Europe, two of which were just struggling to feed their citizens.

And once they got that under control, it was like, we have to rebuild the damage from the war. So America had about 20 years from 1945 to the mid-1960s of... we have a manufacturing monopoly. And then we had 16 million US soldiers come home from the war. And there was so much pent up demand for them to buy homes and washing machines and cars and radios and all these things.

And once they got that under control, it was like, we have to rebuild the damage from the war. So America had about 20 years from 1945 to the mid-1960s of... we have a manufacturing monopoly. And then we had 16 million US soldiers come home from the war. And there was so much pent up demand for them to buy homes and washing machines and cars and radios and all these things.

And all of them were built in America because nobody else could build them. And that created a really special time when like because we had a manufacturing monopoly, it was just like factories everywhere. We built up so many factories during the war. There was endless demand for those products. And this is an important part too.

And all of them were built in America because nobody else could build them. And that created a really special time when like because we had a manufacturing monopoly, it was just like factories everywhere. We built up so many factories during the war. There was endless demand for those products. And this is an important part too.