The Trump-Bessent Plan to Reduce the Debt: Tariffs are merely the tip of the iceberg
Their strategy is anything but "chaotic."
Have you noticed how the media loves to brand the Trump Administration as a “circus,” or call it "chaotic? Unable to see any unifying principle, most pundits debate specific issues like tariffs and immigration.
This view is naive. If we dive down and look beneath the water level, there’s a coherent plan to address the national debt while simultaneously addressing the nation’s security in a world where the balance of power is shifting. Treasury Secretary Scott Bessent’s central role in this grand strategy is the subject at hand.
As usual, you can follow along at a speed of 1.25, which makes the video about 40 minutes long. I have attached a PDF transcript with lots of bonus material.
Note: At the close of the discussion, I intended to flag the new website of Loco-Foco Press, the publisher of my book, A Black Hole in Economics: Money Creation and its Consequences. However, while talking I forgot to click on the slide, so it’s attached below below.
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HardmoneyJim, February 28, 2025
Thank you, Jim, for including that PDF for those of us who prefer reading to watching/listening to a video!
Jim,
Interesting analysis - thanks. I hope you're right, but I won't put any trust in Trump/Bessent until I see entitlements reform explicitly addressed.