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The David Knight Show

INTERVIEW David Stockman: Trump's War on Capitalism

The David Knight Show

David Knight

Politics, News, Society & Culture, Religion & Spirituality, Christianity

4.6765 Ratings

🗓️ 28 November 2023

⏱️ 45 minutes

🧾️ Download transcript

Summary

Former Congressman and Director of OMB under Reagan, David Stockman.

What were the illusory foundations of "Peak Trump"? The disastrous fourth year was worse than most realize.
Did Trump make America Great Again or did he lay the foundation to turn America into a giant Hooverville?
By every metric but one, the Trump administration was a financial disaster and the Federal Reserve drove the getaway car (more like a train). The book is "Trump's War on Capitalism"

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Transcript

Click on a timestamp to play from that location

0:00.0

All right.

0:05.2

Joining us now is former congressman, former director of the Office of Management and Budget

0:11.1

OMB under Ronald Reagan, David Stockman.

0:14.6

And he is someone that Ron Paul said is one of the most astute observer of the tragic and unnecessary implosion of our economy, our monetary system, and society in general.

0:27.9

And he's got some observations about Trump's first term and some warnings about what the second term might look like.

0:35.0

So joining us now is David Stockman.

0:36.4

Thank you for joining us, sir.

0:38.1

Glad to be with you. And we got a lot to talk about here on that topic. Yeah, we do. And the book

0:43.4

that's going to be coming out in January, I should say, is Trump's War on Capitalism. I have

0:48.8

referred to precedent Trump because he set so many precedents that were good precedents during his first term.

0:57.1

So take us down his precedents in terms of attacking capitalism.

1:04.3

Yeah, well, the whole point in my book is that there are certain principles, fiscal rectitude, sound money, free markets, open international trade,

1:16.5

that really define what I think is the conservative position in today's battle of governance in Washington.

1:24.8

And when it comes to those core principles or items, Trump came down time and time and

1:32.0

time again on the wrong side. He was a big spender. He was constantly harassing the Fed for easier and

1:40.5

easier money when we already had interest rates that were barely above zero.

1:46.0

He got taken to the cleaners by Fauci and that whole group of malpracticing doctors around him

1:56.4

when he was persuaded to lock down the economy and destroy the life work of millions of workers

2:04.9

and small business people and so forth. So I think you have to say with four years of that

2:12.8

kind of record, why do we want it again? That is not going to solve the huge problems of debt, of weak economic growth, of inflation,

2:25.7

of a Washington Uniparty, as I call it, you know, bipartisan consensus to bury us in debt and, you know, endless government

2:39.2

intervention and manipulation.

...

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