Transcript
A (0:00)
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B (0:36)
Welcome to the Compact Podcast. Today we'll discuss the State of the Union address. I'm joined by Ashley Frawley and Jeff Schoellenberger. And I'm Matthew Schmitz. So you both watched the State of the Union? I am sure, yes. Can you confirm it?
A (0:55)
Of course. Of course. I watched with great interest. And to be fair, it wasn't actually, it wasn't actually two hours because if you take out all the applause. I didn't watch it live because it would have been like, I don't know, 4am or I am, but I watched it in the morning and I was able to zoom past all the applause and it was really like half an hour it took me to actually watch it.
B (1:14)
I get the feeling Ashley's covering for Jeff because she gave a instant and fluid response, but Jeff's just kind of back there silent.
C (1:23)
Yeah, I just watched the highlights and read. Skimmed through the transcript, I'm afraid.
B (1:31)
What did Trump say?
C (1:35)
Everything's awesome. The Democrats are traitors and Iran won't say the magic words and therefore we might bomb them. So, yeah, the, that, that, that's roughly my summary. I think it was. It was sort of triple. Yeah.
B (1:57)
Talk about. Okay, go ahead. Tripartite.
C (2:03)
It seems that he started on a high note of talking about winning and brought on the US Hockey team, Sakhona, Canada.
B (2:14)
So at the beginning he said we're winning so much. One of the ways in which he said we're winning is that we're getting 18 trillion in foreign investment. And we also hear about, we hear people denounce Chinese actors buying up American land, or we don't want to sell American steel companies to Japanese steel companies. Well, I mean, that is foreign investment. And more broadly, I wrote about this in a kind of quick reaction for the New York Times. Foreign investment is a reflection of the US Trade deficit. So the larger the trade deficit, the greater foreign investment in our country will be. So if we were to revive American industry, if we were to balance trade, that foreign investment would decline. So when Trump says we got $18 trillion invested from foreigners, first of all, it's not really clear that that figure is accurate. But whatever the figure is, the size of that figure basically reflects the fact that Americans are buying goods from abroad. And then those people who are selling those goods from abroad are using that money to buy capital in the United States. And it's not. I just thought that was maybe the most dissonant note in terms of Trump's own agenda and what he is supposed to stand for. I mean, it sounds nice and I'm certainly not of the opinion that Trump's always laboring to be consistent on these matters, but I thought it was quite off.
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