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Belle of the Ranch

Let's talk about Trump's Treasury pick, assumptions, and you....

Belle of the Ranch

Belle of the Ranch

Society & Culture

4.91K Ratings

🗓️ 26 November 2024

⏱️ 5 minutes

🧾️ Download transcript

Summary

Let's talk about Trump's Treasury pick, assumptions, and you....

Transcript

Click on a timestamp to play from that location

0:00.0

Well, howdy there, internet people, it's Bell again.

0:04.3

So today, we're going to talk about what Trump's Treasury appointee means for you.

0:10.7

Trump has made his economic choices, and his supporters are confused, and Wall Street is cheering.

0:18.0

They both might be misreading the situation.

0:22.7

For the Treasury Department,

0:29.3

Trump chose Scott Bessent. For Trump supporters who wanted drastic change and Trump's promises, this isn't the guy they wanted. Even Trump follower Elon Musk called him the,

0:35.5

quote, business as usual choice.

0:39.3

Politically, Besson helped the campaigns of Gore, Clinton, and Obama, either by donating

0:45.8

or hosting fundraisers. But since 2016 or so, he's donated millions to help Trump.

0:53.6

Bessent has been a hedge fund manager, a partner at Soros

0:57.7

Fund Management. He's done a lot of work with Yale and is a member of the Council on Foreign

1:03.7

Relations. If confirmed, he'll be the first openly gay Treasury Secretary. Trump supporters are already starting to express their

1:13.1

disapproval of somebody who, regardless of policy positions, has the credentials for the spot.

1:20.5

Wall Street and the owner class in the U.S. have breathed a collective sigh of relief.

1:26.9

Bessent is being described as, quote, reasonable and pragmatic, or a, quote, safe bet, or, quote, competent.

1:36.4

The idea is that he won't rock the boat and that he'll push back on Trump's worst economic promises.

1:43.4

They have good reason to believe that he

1:45.6

doesn't agree with all of Trump's economic policies, particularly those we've discussed on the

1:51.9

channel. The reason? He said he doesn't. Bessent doesn't agree with those policies because,

2:00.0

unlike Trump, Besson actually understands economics.

2:04.7

Besson has delicately indicated he believed that Trump's tariff promises weren't really

2:10.5

promises that were going to be kept and that they were the maximum position and the percentages

...

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