Part of the Problem – "Trump at the WEF" (January 22, 2026)

Host: Dave Smith
Podcast: Part of the Problem
Episode Theme: In this solo episode, Dave Smith critically analyzes former President Donald Trump’s recent address at the World Economic Forum (WEF) in Davos, dissecting its substance, style, and the reactions it provoked, especially among right-wing supporters. Smith draws comparisons to past political phenomena, questions Trump’s follow-through on key promises, and delivers a libertarian critique of Trump’s rhetoric and record.

Episode Overview

Dave Smith breaks down and reflects on Donald Trump’s WEF speech, arguing that Trump now personifies much of what he claimed to oppose – especially government bloat and empty rhetoric. Smith warns of the dangers of supporting politicians based on gestures and style rather than substance, drawing parallels between left- and right-wing partisanship. The episode is marked by Smith’s characteristic mix of humor, exasperation, and sharp libertarian critique.

Key Discussion Points & Insights

1. General Impressions of Trump’s WEF Speech

• Smith’s Take: Trump’s Davos speech was "horrible," "unhinged," and marked the lowest point in Trump’s career as a political figure. Smith observes Trump as appearing "old," "rambling," and increasingly incoherent.
  • "He looks the worst he’s ever looked as president or in the last 10 years since he's been a political figure.” [02:45]
  • "He seems to be more incoherent and rambly than he’s ever been before.” [03:22]
• Comparison to Biden: Smith notes that Trump isn’t as outwardly incapacitated as Biden (“at least yet”), but sees signs of decline.
• Style Over Substance: Smith believes some right-wing supporters are latching on to empty, performative gestures from Trump—just as leftists once did with symbolic victories offered by Democrats.

2. Token Gestures vs. Real Policy (Parallels Between Left & Right)

• Smith draws a parallel: Just as left-wing partisans celebrated superficial gestures (e.g., corporate Pride floats, renaming Aunt Jemima), Trump’s base now accepts rhetorical finger-wagging or tough-talk in place of substantive policy achievements.
  • "Are you really this dumb that you’ll get bought off by the big banks...for sponsoring a float at your parade?” [06:38]
  • "I can’t help but see the parallel between that and how some of these right-wing accounts are reacting to Donald Trump’s speech today.” [09:44]
• Key Example: Trump supporters demanded "no new wars" and a battle against the "deep state," but many have settled for antagonistic rhetoric directed at foreign countries.

3. Trump’s Broken Promises & Unfulfilled Rhetoric

• On Draining the Swamp/Deep State Prosecutions:
  • Smith lists campaign promises Trump hasn’t met—no new wars, drain the swamp, deep state reckoning, etc.—and notes Trump hasn’t delivered on any.
  • “Donald Trump’s done none of it. None of it.” [12:02]
• On Deep State Arrests/2020 Election:
  • Trump claimed at the WEF that arrests are coming soon over the 2020 election.
  • Smith challenges listeners: When is it fair to conclude Trump was simply lying about these charges?
    • “Can someone give me a date when I’m allowed to point out that none of this is going to happen?” [18:00]
• Comparison to Biden DOJ: Smith cynically notes that, regardless of how you feel about the January 6th prosecutions, Biden’s DOJ was "serious" and efficient, unlike Trump’s "all talk" approach.
• Jeffrey Epstein & Accountability: Smith criticizes right-wing pundits (e.g., Dan Bongino, Cash Patel) for supporting Trump while key scandals remain unaddressed.

4. Substance of Trump’s WEF Speech – Analysis of Clips

a. “Strong Borders, Strong Elections, Good Press”

• Smith points out that Trump frames the need for “strong borders, strong elections, a fair media,” but omits the crucial need for consequences against powerful officials who commit crimes.
  • “When people in positions of power...commit profound crimes...there have to be consequences for that.” [28:48]

b. Media Criticism—For Whom?

• Smith asserts that Trump’s main grievance with the media is its treatment of Trump himself—not its lies to the broader public.
  • “What’s Donald Trump’s beef with the media? They didn’t give favorable coverage to me, and I won so bigly.” [32:32]
• Smith contrasts Trump’s media obsession with his own libertarian critique, which focuses on the harms done to the people.

c. War Boasting & Military Budget

• Trump brags about settling conflicts by phone, increasing military budgets, and the US’s power.
  • Smith points out the incoherence and the total departure from Trump’s original “America First/anti-intervention” platform.
  • “When Donald Trump brags about a bloated defense budget, he’s bragging about increasing the swamp. That is the swamp.” [41:30]
  • “We spend more money on militarism than any country that’s ever existed in the history of the world...How is that winning exactly?” [40:06]

d. Appointment of Marco Rubio—Swamp Redux

• Trump praises Marco Rubio’s confirmation as Secretary of State, boasting that every senator supported him.
  • Smith skewers the logic: if swamp creatures like Rubio are so wonderful, what was the point of Trump’s movement?
    • “If this is the case, why did we ever need Donald Trump?...He might as well be praising Paul Ryan or Mitt Romney.” [45:35]
• Smith notes that establishment media never attacked Rubio, unlike more “controversial” outsiders.
  • “They’re not flipping out about any of this shit. And that’s because, essentially, Donald Trump has merged with the swamp.” [49:30]

5. Final Thoughts & Libertarian Critique

• Trump as Establishment: Smith concludes that Trump, far from draining the swamp, has become part of it, prioritizing establishment priorities and rewarding the military-industrial complex.
  • “They don’t see him as a threat to the swamp anymore. They see him as somebody who’s trying to grow the thing.” [49:43]
• Message to Supporters: Smith warns listeners against degrading themselves by defending empty gestures or settling for rhetoric while abandoning principle:
  • “If you could get fooled by that at this point, I don’t know what to tell you.” [15:03]
• He calls for "a little bit of self-respect" among those who supported Trump for principled reasons, not just for “tough talk.”

Notable Quotes & Memorable Moments

• On right-wing reaction to Trump’s speech:
  “He’ll go in there, he’s betrayed you on everything...but he’ll go into the World Economic Forum and say something like, ‘Canada, you’re just a bitch, and we’re the big strong tough country.’” [09:44]

• On “draining the swamp”:
  “Donald Trump brags about a bloated defense budget...he’s bragging about increasing the swamp. That’s what drain the swamp guy is doing right now.” [41:30]

• On partisanship:
  “That is on the level of being about as serious as transgender activists on the left were over the last 10 years...if you could get fooled by that at this point, I don't know what to tell you.” [15:03]

• On Marco Rubio:
  “If Marco Rubio is so wonderful, what an impressive diplomat...why did we ever need Donald Trump?” [45:35]

Timestamps for Key Segments

• [02:45] – Smith’s overall first impressions of the Trump WEF speech
• [05:03–11:13] – Parallels between tokenism on the left and right; Trump’s broken promises
• [16:05–18:00] – Trump claims arrests are imminent for the 2020 election; Smith’s skepticism
• [28:48] – Smith’s point about accountability for government crimes
• [35:09–39:40] – Audio clips: Trump boasting about diplomacy, military power, and budgets
• [41:30] – Libertarian criticism of military-industrial complex and Trump’s “America First” failings
• [45:27–49:30] – Critique of Rubio’s appointment; Trump’s alliance with the swamp

Tone & Style

Dave Smith’s language is direct, irreverent, and often self-deprecating. He freely mixes sharp analysis with humor and exasperation, maintaining a conversational and occasionally confrontational tone. He’s unafraid to criticize not only Trump but also right-wing media personalities he believes are letting principles slide.

Summary Conclusion

Dave Smith’s "Trump at the WEF" episode is a wide-ranging, blistering critique not just of Donald Trump’s recent appearance at the World Economic Forum, but of the entire arc of Trump’s second-term presidency. Smith argues that Trump now embodies establishment politics and has failed to deliver on every core promise that motivated his supporters. Through a libertarian lens, Smith urges listeners to demand more than empty gestures and performative bluster, regardless of partisan allegiance.