Summary of "The Larry Tate Trumpians" Episode of The Commentary Magazine Podcast

Release Date: April 10, 2025

Introduction & Context

John Podhoretz opens the discussion by addressing the unpredictability of economic forecasts, emphasizing the challenges businesses face without a "crystal ball." He humorously critiques the limitations of traditional economic analysis, setting the stage for a deep dive into current political and economic issues.

Trump's Trade Policy and the Tariff Pause

The conversation begins with a focus on President Donald Trump's recent decision to pause tariffs, excluding those on China. Podhoretz highlights the swift reversal of earlier tariff implementations:

"Donald Trump backs off the tariffs in a huge way, except for China... he can continue to enjoy the sucking up of foreign leaders who will... tailor make their relations with the United States on trade on a case-by-case basis."
— John Podhoretz [02:36]

Matthew Continetti reflects on the uncertainty introduced by Trump's erratic trade policies, noting that the only certainty during the Trump era is unpredictability:

"When you really don't know what the day holds."
— Matthew Continetti [03:35]

Market Reactions and Economic Implications

The hosts analyze the immediate market response to Trump's tariff decisions. The Dow saw a significant drop followed by a partial recovery, illustrating market volatility:

"The market went down, I think 5,000 points at the Dow at its lowest, and then it recovered about 2,700 yesterday."
— John Podhoretz [05:47]

Continetti elaborates on investor sentiments, suggesting that disciplined market responses are necessary to mitigate Trump's unpredictable policies:

"We're responding the way that we have to respond."
— Matthew Continetti [06:12]

The discussion touches on the broader implications of Trump's trade strategies, particularly concerning the national debt and defense policy constraints.

Internal GOP Dynamics and the Budget Resolution

The podcast delves into the internal dynamics of the Republican Party, especially concerning the "big beautiful bill" or budget resolution. Podhoretz criticizes the lack of substantive detail in budget proposals:

"There's no setup... it's all shadow, a kabuki game..."
— John Podhoretz [66:17]

Continetti explains the procedural challenges within the House of Representatives, emphasizing the tightrope Speaker Mike Johnson must walk to secure necessary votes before the legislative break:

"They need this vote today because they're scheduled to go on break for Passover and Easter for two weeks."
— Matthew Continetti [68:44]

Executive Orders Targeting Individuals: Miles Taylor and Chris Krebs

A significant portion of the episode focuses on President Trump's controversial executive orders targeting former officials Miles Taylor and Chris Krebs. Podhoretz outlines the implications of these actions:

"He has now directed the Justice Department to launch investigations of Taylor and Krebs... This is very, very bad."
— John Podhoretz [69:34]

Continetti critiques the executive orders as potential unconstitutional bills of attainder, highlighting their personal and political motivations:

"He is out for retribution... These executive orders are... probably illegal."
— Matthew Continetti [74:57]

Christine Rosen underscores the unprecedented nature of these orders, comparing them to past abuses of executive power:

"This is egregious... believe that they have grounds to sue and treat these as bills of attainder."
— Christine Rosen [76:06]

Historical Analogies and Ideological Critique

The hosts draw parallels between Trump's actions and historical figures like Andrew Jackson, emphasizing Trump's departure from established norms and understanding of economic mechanisms:

"Donald Trump is the last industrial economy man... He is the last man who's like, I don't think it's fair that we trade together."
— John Podhoretz [54:40]

Continetti and Rosen discuss the role of nostalgia and ideology in Trump's policies, arguing that a lack of historical context and an overreliance on simplistic, transactional views of international relations are detrimental to America's global standing.

Concluding Remarks and Future Implications

As the episode wraps up, the hosts reflect on the long-term consequences of Trump's policies, particularly regarding economic stability and international relations. They caution against the continued use of executive power for personal vendettas, warning of potential legal and political backlash.

Podhoretz concludes with a critical perspective on the current state of the American economy and the misrepresentation by Trump and his allies:

"The picture of the economy that is being drawn by Trump... is distorted, it is fake, it is wrong."
— John Podhoretz [43:19]

Continetti and Rosen echo this sentiment, emphasizing the need for informed policy-making grounded in historical understanding and economic reality.

Notable Quotes with Timestamps

• John Podhoretz [02:36]:

  "Donald Trump backs off the tariffs in a huge way, except for China..."

• Matthew Continetti [03:35]:

  "When you really don't know what the day holds."

• John Podhoretz [05:47]:

  "The market went down, I think 5,000 points at the Dow at its lowest..."

• Matthew Continetti [06:12]:

  "We're responding the way that we have to respond."

• John Podhoretz [66:17]:

  "There's no setup... it's all shadow, a kabuki game..."

• Matthew Continetti [68:44]:

  "They need this vote today because they're scheduled to go on break..."

• John Podhoretz [69:34]:

  "He has now directed the Justice Department to launch investigations of Taylor and Krebs..."

• Christine Rosen [76:06]:

  "This is egregious... believe that they have grounds to sue and treat these as bills of attainder."

• John Podhoretz [54:40]:

  "Donald Trump is the last industrial economy man..."

• John Podhoretz [43:19]:

  "The picture of the economy that is being drawn by Trump... is distorted, it is fake, it is wrong."

Conclusion

This episode of The Commentary Magazine Podcast offers a comprehensive analysis of President Trump's recent trade policies, market reactions, internal GOP challenges, and controversial executive orders. The hosts provide a critical perspective, drawing on historical analogies and emphasizing the importance of informed, consistent policy-making. Notably, the discussion underscores the potential long-term implications of Trump's actions on both the American economy and the nation's position in the global arena.