#finance #financenews Whether you like President Donald Trump or not, he is embracing policies that BOTH Democrats and Republicans saw as the solution in the past.
Only difference is, today, Democrats are terrified that President Trump’s policies not only the viable solution, but that they’re actually going work, argues Victor Davis Hanson on today’s edition of “Victor Davis Hanson: In His Own Words:”
“What's happening is we're watching the most dramatic counterrevolution in our history.
“This is more fundamentally changing than even the Reagan revolution that rebooted the American economy and won the Cold War. And it's even more—I don't know—more fundamentally transformative than the Roosevelt first 100 days when he took the country hard left with the New Deal.
“I really think [Democrats] have no alternative to addressing the debt, the budget deficit, the trade deficit. And there's only one pathway. And whether you like Donald Trump or not, or you think he's crude, he is embracing policies that in bygone days both Democrats and Republicans saw was the solution. And the Democrats are terrified that it is not only the viable solution…”
00:00 Introduction: Media Hysteria and Trump's First 100 Days 01:31 The Counterrevolution: Trump's Transformative Policies 02:18 Foreign Policy: Iran and Ukraine 04:28 Domestic Renaissance: Investment and Energy 05:10 University Reforms and Trade Deals 06:53 Conclusion: Fear and Viable Solutions 07:28 Closing Remarks and Subscription Info
There's been a lot of media hysteria, some ambiguous and some negative polls,
but here's the main course of action that we're all looking at.
It's 100 days and we're right in the middle of everything and yet people are already
talking about Donald Trump as if he's failed or there's an obituary.
Nothing could be further from the truth.
Everything is in play and we have no idea how it's going to turn out or what will happen,
but it could be what Donald Trump called a golden age.
All of hysteria, I think it's fueled by fear and there's only one pathway
and whether you like Donald Trump or not or you think he's crude,
he is embracing policies that in bygone days both Democrats and Republicans saw was the solution
and the Democrats are terrified that it is not only the viable solution, but it's going to work.
Hello, this is Victor Davis Hanson for The Daily Signal.
There's been a lot of media hysteria, some ambiguous and some negative polls.
We've talked about that before that they seem to be not so disinterested as we might imagine.
It's in line with previous prejudicial polls, but here's the main course of action that we're all
looking at.
It's 100 days and we're right in the middle of everything and yet people are already
talking about Donald Trump as if he's failed or there's an obituary.
Nothing could be further from the truth.
Don't listen to the libertarian right or the never Trump right or the hard left.
What's happening is we're watching the most dramatic counter-revolution in our history.
This is more fundamentally changing than even the Reagan revolution that rebooted the American
economy and won the Cold War.
It's even more, I don't know, more fundamentally transformative than the Roosevelt first 100 days
when he took the country hard left with the New Deal.
What do I mean by that?
Everything is in play and we have no idea how it's going to happen.
It's going to turn out or what will happen.
But it could be what Donald Trump called a golden age.
Let's look at foreign policy very quickly.
Iran is not the Iran of 2015-16 when Obama did the deal.
It's not even the Iran that we got out of the deal under Trump's first administration.
This is Iran that has no air defenses to speak of.
Anytime the United States or Israel wants to penetrate the air shield of Iran, it can.
There is no Hezbollah as we knew it.
There is no Hamas as we knew it.
The Houthis have been completely neutered.
We spent a billion dollars, but Trump hit them with almost everything we've had.
The Red Sea is opening up to navigation.
And so my point is that if Donald Trump wants to cut a deal, it will be on terms
that get rid of the nuclear program.
And if they do not want to get rid of the nuclear program, they have no more surrogates.
There's no Mr. Assad in Syria.
And these other terrorist appendages, as I just said, are defunct.
So he'll either get a nuclear deal, or he'll either outsource to Israel, or we will take
out that nuclear threat that Iran may possess.
So there's going to be one way or another a solution to the Iran problem.
In Ukraine, we're beyond give them whatever it takes, whatever it takes.
The Joe Biden strategy, it's a non-strategy.
Just feed that Stalingrad carnage house.
From liberal to conservative have already outlined the parameters of a ceasefire and
peace, a DMC, a commercial corridor, institutionalized Crimea and Donbass and the possession of
Vladimir Putin, unfortunately, which he took those two territories in 2014.
No NATO membership for Mr. Zelensky, but a lot of arms so that he can deter Putin and
probably EU membership.
If that peace is settled, Donald Trump will soar.
Joe Biden allowed that war to break out because he did not arm Ukraine in an offensive way
than the way that Trump had.
The Afghanistan pullout lost us deterrence.
And then he had a non-strategy, and we had something worse than Stalingrad in World War
II.
Back home, we are on a renaissance of foreign investment, $4 or $5 trillion.
Our tech lords are building huge factories.
All that's going to kick in very soon.
In addition to that, we're on an energy renaissance.
There is no prohibition about ANWR or Keystone, whatever we want to do in terms of natural
gas, nuclear, clean coal, oil production.
It's going to happen, and it's going to lower energy prices, and it's going to be very
important for Europe.
And that's going to change our strategic relationship when we start in full mode supplying
them with liquid natural gas and maybe even oil.
When we look at the universities, there's going to be a fundamental change in the universities,
whether they like it or not.
There may be a tax on their endowment.
There may be some conditions on student loans, this $1.
trillion student loan program that's in shambles.
They're going to have to get rid of DEI and trying to avoid the Supreme Court decisions.
They've taken so many billions of dollars and not told us about it from China.
I could go on, but there's going to be fundamental reform of the university that will be positive.
And most importantly and finally, there's about five or six entities with whom we run
the trade deficit that account in aggregate for about 90% of the $1.2 trillion that we
are in deficit.
And if Donald Trump gets a deal, and I think there's a 50-50 chance in the next month he
will, with the EU, with Canada, with Mexico, with the ASEAN or the Southeast Asian nations,
with Germany, part of the EU, with South Korea, there's not a lot of them.
And once one deal starts to unfold, the others will follow.
And because the fundamental economic indicators of job growth, inflation, corporate profits,
energy prices are sound, there'll be a little bit of disruption as we reboot with these
trade deals.
But they're going to do two things.
They're going to bring in a lot of foreign investment of these countries that want to
avoid another trade war.
And they'll find it's, I don't know, useful.
And there's efficacy in putting plants in the United States.
It's already happening.
And more importantly, we will not be sending out $1.2 trillion.
What am I getting at?
All of hysteria, I think, is prompted or fueled by, I'll say it, I think it's fueled by fear.
I really think they have no alternative to addressing the debt, the budget deficit, the
trade deficit.
And there's only one pathway.
And whether you like Donald Trump or not, or you think he's crude, he is embracing policies
that in bygone days, both Democrats and Republicans saw was the solution.
And the Democrats are terrified that it is not only the viable solution, but it's going
to work.
Thank you very much.
This is Victor Davis Hanson for The Daily Signal.
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