September 23, 2020 • 31 mins
President Trump has not only made America great again, he has set a new standard for all Presidents. The Trump Century: How Our President Changed the Course of History Forever opens a window into Trump’s thinking on the economy, foreign policy, and border security and will energize his allies when they realize the future they’ve shaped. Newt’s guest is Lou Dobbs.
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Speaker 1 (00:00):
Hi, This is due the virus. I'm recording from home,
so you may notice a difference in audio quality. On
this episode of News World. President Trump has taken on China,
challenged the deep state, secured our borders, and enacted stronger
immigration policies. He's not only made America great again, he
(00:23):
has set a new standard for all presidents, and he's
likely set an agenda for the next hundred years. Lou
dobbs new book, The Trump's Century, How Our President Changed
the Course of History Forever, opens a window into Trump's
thinking on the economy, foreign policy, border security, and it
will energize his allies when they realize the future they've shaped.
(00:46):
I'm pleased to welcome my guest, Lou Dobbs. Lou is
the New York Times bestselling author of six books and
the host of the number one news program on business television,
Lou Dobbs Tonight on Fox Business Network. He's also the
host of the nationally syndicated Blue Doves financial reports airing
(01:07):
on the radio daily. Named TV's premier business news anchorman
by The Wall Street Journal, Dobbs has numerous Emmys, a
Cable Ace Award, a Peabody Award, and many other distinguished honors.
(01:31):
I'm delighted to have this chance to chat with a
good friend of mine, somebody whose show I have been
on many times and it's always pretty remarkable. Blue Dobbs
is the host of the number one news program on
business television. Blue Dobbs Tonight on the Fox Business Network
is a new book coming out called The Trump Century,
(01:51):
How our President changed the course of history forever. I'm delighted,
Loue to welcome you. You cover this country so well
on your show, and you have your finger on the pulse.
What's your sense of what America is right now? We
have never been in such confusing turmoil as now. We
(02:11):
are now a nation that is, in my judgment, under
assault by what was once the loyal opposition, and that
is the Democratic Party. There is no equivocation on their part.
They mean to overthrow this president right up until the
election day and perhaps maybe beyond that. They're vicious, and
(02:32):
they are maniacal in their pursuit of power, and they
mean to take it rested from this president one way
or the other. And if they can't win at the polls,
which in my opinion they cannot, they mean and have
threatened already to do so, take to the streets and
to use as many tactics, Marxist tactics to create great
(02:57):
disruption and unrest in the country. Never seen the like
of it, not during the sixties nor in any other
period which I've lived. It's breath taking. You mentioned in
your book that COVID nineteen is the biggest threat ever
to the re election prospects of the president. I think
without that the Trump would be winning by a huge margin.
(03:19):
So what do you think autimately the effect of COVID
nineteen is going to be on the election. It's difficult
to say, our doubt, but I do believe that the
President will emerge from this with truth at his side,
because the reality is this president's decision making throughout this crisis,
and he was I think correct to call or the
(03:39):
national emergency. Remember there were cat calls and mocking of
the President for wanting to band travel from China from Europe,
for calling it a national emergency, and now the very
same people are criticizing him for delaying doing all of
the things that they oppose. But I believe that we're
going to see a VAX in such advanced stages. I
(04:02):
think we're going to see schools open up. It's unimaginable
to me that he has to persuade people to go
back to school, he has to persuade people to open
up their communities and their cities and towns, because it's
clear now the level of transmission, the mortality rate, and
it's not, thank god, as bad as we had feared.
(04:24):
The reality is that the closure represents his best we
can determine, far worse than staying shut down and shaking
in fear of COVID nineteen and not going about our
lives as best we can. Are you a little surprised
that Harris and Biden have been actively, almost campaigning against
(04:47):
the vaccine? You know, I am. You would expect in
these moments of crisis that they would at least put
on a good show of unity with the president. It
is a public health issue, is legitimately the worst crisis
we faced in decades. But they make no pretense. They
are opposing vaccines, they are opposing opening the economy, they
(05:11):
are opposing this president. They are even in opposition to
the science that they so often accuse others of ignoring.
It is a remarkable period. It is a straightforward lust
for power, a minimus strategy that does not take into
account either the well being or their fellow citizens or
(05:31):
the nation. It's just stunning what they have become in
what they intend, and it is clear that they intend
to wrest power from this president. Even with COVID and
even the other challenges. The real problem for the president
is not Harris and Biden. The real problem for the
president is the propaganda media, which is in my lifetime,
(05:55):
just transformed itself. When you first went into the business,
it was a totally different business. It was a totally
different business. It was a totally different craft. The tenets
of the craft when I became a cub reporter almost
a half century ago, were clear. There were just standards
(06:15):
to which you repaired every day in every way. As
a young reporter, I have reporters come into look for
a job and within fifteen minutes talking with them, they
have no understanding of what an independent objective press is
required to do. They don't understand the language, they don't
(06:36):
understand the values, and no one has even attempted to
educate those values at any point, whether it's from academia
or from a previous series of jobs in the business.
This is a wholesale propaganda operation being run with Corporate
America and the behemoth media companies that own these news outlets,
(06:58):
whether it is The Washington can Post, The New York Times,
NBC News, ABC, Disney, Comcast, AT and T. For crying
out loud, it's just remarkable the economic power that is
concentrated in the hands of a few, and further, the
concentration and awesome power politically that they have acquired by
(07:21):
being the proprietors of fake news, which they are obviously sponsoring, supporting,
and directing because they own it. I've been watching with
fascination the conversation about Disney and its relationship with China.
Communications companies have so much tied up in China that
(07:42):
it's very expensive for them, very risky for them to
tell the truth about the dictatorship. So the first time
I'm seeing it begin to become a public dialogue based
around the Disney film Mulan and the fact that they
actually had the audacity the film part of it in
Western China where the concentration camps are. You were probably
(08:03):
the first national newsperson to really understand the Chinese challenge.
You must have some deep sense of satisfaction that this
president has in many ways taken up your positions. Well,
he was also taking these positions early on himself. I
(08:23):
am so gratified that he is in the Oval office,
because without him there, we would still be talking about
two words. We don't often hear newt. You don't hear
people talking about free trade anymore, do you? In the
public arena? That is dead and buried because this president
has shown the destructive fiction that was pushed and perpetrated
(08:45):
by the US Chamber of Commerce, the biggest lobbying organization
in the country, US multinationals, through the Business round Table
and Wall Street firms, they absolutely have had a reversal
that they never imagined even possible, and that is that
free trade is now seen for what it is. Trade
(09:07):
deficits cut into GDP growth. You sacrifice growth, and we
have sacrificed over the course of fifty years through trade
deficits somewhere between five and ten trillion dollars, depending on
how you want to calculate it. But that's an extraordinary
price for something called free trade. And in that attached
(09:28):
the insistence of Wall Street and Corporate America to outsourcing
jobs and the loss of three million manufacturing jobs, millions
in service industries as well. It has been a horror
over the course of the last thirty years for working
men and women in this country and their families. Our
middle class was savage, and many people don't realize the
(09:50):
middle class wages stayed stagnant over the course of two
full decades. It took this president to reverse it. And
he had to take on the orthodoxy of academia, the
orthodoxy of Wall Street, the business establishment, the political establishments
of both parties. And that is why he is in
the fight of his life politically, because, as you know,
(10:13):
the establishment never stands still when challenge, and they have
been absolutely upended and disrupted by this president, and the
ferocity of their response is obvious every day. I was
(10:41):
startled when the Chamber of Commerce decided that it would
endorse twenty three Democrats, even though their first vote is
going to be for Nancy Close, and I thought, this
is a complete sellout of the interest of most American businesses.
They're the building down there in Washington, and they exist
independent of the people that are supposed to be representing.
(11:02):
They have been independent of all. But I'm going to
say somewhere in the neighborhood of approximately the same population
of the Business Roundtable membership, about one hundred and thirty
five to one hundred and fifty US multinationals. They've held
thray over the Chamber, they have set the agenda for
which had lobbies every day with great power and economic influence.
(11:25):
To see them go with radical Democrats rather than stand
with high quality Republican candidates who are, unfortunately for them,
aligned with the President, it tells you the power that
he has right now at this moment in his presidency.
He's been proved right on issue after issue after issue,
(11:46):
and the Chamber. Tom Donighu, the cardinal of Corporate America's
lobbying enterprises, he can't believe what has hit him because
he has for so long been pulling so many strings
so effectively on Capitol Hill. He can't get anyone to listen.
It's got to be stunning to him. I was really
(12:07):
struck with from the very beginning of the Trump campaign.
And you do a good job in your book reminding
us that this was really Trump, long before he was
a candidate, that there's a continuity in his analysis that's
pretty amazing. And I told him in several occasions he
was going to be the most disruptive president since Andrew Jackson,
(12:27):
And I said, look, would you disrupt these guys? They're
going to fight back. You know, they're not going to
roll over. They're going to be pretty pissed off at you.
And I think it's surprised him how really deep and
ferocious has been. Those who know I'm like you understand
that he really was surprised. You would think that as clever,
(12:49):
as bright and just instinctive when it comes to combat,
that he would have understood that would happen. But he
truly was surprised. He was hurt. His feelings were hurt
that the reaction came as it did from some billionaire
friends from the establishment. You could see it in so
many ways that he was gutsick, often at the betrayal
(13:12):
as he saw it his establishment friends. They saw it
the other way, that he had betrayed them. He was
a traitor to his class, to be a populist president
who actually kept his promises. My god, horrifying the idea
that he's keeping promises. Those are supposed to be negotiable throughout,
(13:33):
particularly with the moneyed interest and the donor class braying
at him to move one direction or the other constantly.
He's a unique president. I think, an historic president. I
think he proved it in less than four years. He's
accomplished more. And you're the historian. I'd love to hear
your answer to this, because I've gone back through those
(13:55):
presidents I thought were remarkable, and I can't find anyone
save f Are and Abraham Lincoln, who accomplished as much
as this president in his first three and a half
years in office. It is remarkable to see what he
has done, for which, of course, he gets no credit
from either the loyal opposition or the left wing national media,
(14:17):
or certainly the radical extremists of the left, in some
cases members of his own party, the SOHO Rhinos. I'd
love to hear what you think about Well, I think
that's pretty close to right. I think you have Jefferson,
who for all, did buy half the country, which I
always tell people that I'm prepared to be a Jeffersonian
(14:39):
Conservative if that means I get to buy half the
United States, you know, and yet Andrew Jackson, who took
on the entire establishment over the US Bank. But with
those exceptions, neither of whom had the ferocity of hatred.
I mean, I think Lincoln is the only president who
(14:59):
had the level of intense to have a good friend
who teaches at Princeton and Gettysburg. Helen Guelzo is an
expert on the Civil War bread and in December of
sixteen he wrote me and said, no president has had
the level of vitriol the Trump is getting since the
slave owning newspapers of South Carolina attacked Lincoln. And I
(15:23):
thought it was a very telling thing because in a
sense Trump is to the anti American left what Lincoln
was to the slave arms. He's the beginning of the
end of their world. And I think that they know that,
and I think that's part of why you see the frenzy,
because he was a surprise in sixteen. Now he's a fact.
(15:43):
And I also think that you put your finger on something.
The elites in this country were very pro Chinese because
they were making so much money and they want to
feel good about themselves, so they don't like being told
the China is a dictatorship. They don't like being reminded
about the million people in the concentration camps, or the
(16:05):
methodical destruction of the Tibetan Buddhist culture. And Trump comes
along and he violates all these norms, and he's not
only offending them psychologically, but he's threatening their pocketbooks to
a year scale, I mean billions of dollars, And that's
part of what I think motivates this kind of hostility.
(16:26):
And they are to a remarkable degree in New York,
Los Angeles and Silicon Valley and not in the rest
of the country. So that's also why you get this
strange geographic pattern where you can go through much of
Middle America and you see hundreds of Trump signs, and
then you visit La or New York or San Francisco,
(16:47):
and you just see endless hostility, not necessarily pro Biden,
but deeply anti Trump, deeply and within the American left.
It's a litmust asked in you're measured by the level
of mile that you can generate about the president of
the United States. And we see it in Manhattan, of course,
(17:08):
at Los Angeles. You mentioned Silicon Valley, the so called
big tech chiefs. It's an interesting language we have. We
refer to billionaires in Eastern European nations in particular as oligarchs.
Billionaires here are fabulously wealthy and brilliant people who have
only the nation's interest at heart. It's really a fiction
(17:30):
that I think this president has, if not destroyed, he
has significantly altered for the better for this country. We're
starting to look with scales removed from our eyes and
what we have wrought in terms of Silicon Valley and
the enormous economic power they possess, and electoral power as well.
(17:51):
This is going to be a job for Donald Trump
to do what he has promised he would do, and
people forget he promised to break up big tech, and
I think in the second term that we will see
him take that on in a very energized way. We
may actually see the Justice Department bringing a case against
(18:13):
Google before the election. I would sheer that. Yeah. I
think that the degree to which they now are sliding
into anti trust there to I always tell people we
have a deep visceral hostility to centralize power. And it
was true with the standard oil, it was true with
(18:33):
the railroads, it was true with IBM, and with AT
and T. And these guys have now slid into that
because they're abusing their power and therefore they're not behaving
as though they are holders of a public trust. They're
using that position to radically change these You've done so
(19:09):
much business coverage over the years. Were you surprised by
the speed with which the Trump economy replaced an accelerated
past the Biden Obama economy. Yes, that's a good way
to put it. I was surprised by the speed with
which it had occurred, which speaks to the pent up
(19:30):
energy that had been suppressed through regulation through the noxious,
anti business, anti capitalist leadership of the Obama Biden presidencies.
I didn't fully realize the degree to which they had
been successful, in that the president, within a year of
(19:51):
strong leadership, had awakened all of those animal spirits and
we started seeing great things happened as soon as he
put the two regulation into a fact. That is, for
every regulation created, too half to fall. My hope has
been and I went back and read Grant's book on
the Depression of nineteen twenty twenty one to get a
(20:12):
field for this, because that was a depression that was
so v shaped that it never entered the collective memory.
We went into it. It was very bad for about
eight or nine months. Then we came out of it,
and unlike the Great Depression of the thirties. It didn't
shape the twenties because it was over. And Trump has
talked repeatedly about a steep, v shaped recovery, and it
(20:35):
seems to me he may be getting it. What's your
take of how the economy is responded with nineteen twenty
coming after the pandemic of nineteen seventeen eighteen, there's a
terrific analog with what we were experiencing, and with the
China virus pandemic and the quick recovery, it has been
(20:55):
an elastic response. The economy has moved because of some
three trillion dollars in fiscal stimulus and probably somewhere in
the neighborhood of six trillion and monetary stimulus by the
Federal Reserve. And we've seen remarkable strength in this economy
given what we went through in the second quarter, and
(21:17):
it's sustaining. I'm amused to see Reuters and Bloomberg and
a number of out less the New York Times included,
every number they look at, they find a way to
say it's slower, it's worse than it was, when indeed
you have to look with your lying eyes and see
what truth is. We are seeing a remarkable recovery in
(21:38):
the labor market, a remarkable recovery in the housing market.
We're seeing sales of automobiles for crying out loud that
are reaching pre pandemic levels in some cases. This is
truly a remarkable recovery. And if the President can persuade
the Big ten and others to play football and to
(22:00):
help the society, we are going to be in very
good shape, in my opinion, by the fourth quarter. I've
been working on a paper that compares the Biden and
the Trump worlds, pointing out that if you represent say
New York, Connecticut, New Jersey, Illinois, California, it's a great
(22:22):
test bed for everything Biden says he believes in and consistently,
whether it's violent crime or its deaths from COVID or
its unemployment numbers. The Biden world is a disaster. And
if you actually just took numbers for the Trump world
and excluded those, we would be roaring back right now.
It's almost like the Democratic governors are doing everything they
(22:45):
can to put the brakes on until after the election
in the hopes that they won't help reelect Trump. I
know you're right. The Democratic governors are now operating as
a cabal. They're involved in college sports not being opened.
They've shut it down. Their wall is breaking. The cabal
is now being shown up by their peers. The SEC
(23:07):
has shown the way, and the Big ten has shown
themselves not to be quite as big or top as
we thought they would be. They've been something of buttercups
and daffodils, and now they've relented and they're coming back
to who we wanted them to be. The PAC twelve
has yet to follow, of course, but we're seeing city
after city now have to say, you know, we cannot
(23:28):
keep saying we're going to stay close to the election.
It's too obvious. In some of them are seeing their
schools open up despite them, because people are actually asserting
their power in their school boards. And some Americans are
actually realizing that they have greater control over their lives
through proximity to government, and the most proximate government is
their local government. And it's good to see people awaken
(23:52):
to that political reality and to try to take charge.
They keep trying to play games with national government, and
of course I guess all the headlines, but the fact
is we're seeing some positive things emerge from this, and
I think we'll see, certainly more than half the country opened,
and I think driving by certainly going into the election.
(24:12):
So it's another reason that I'm very hopeful about the outcome. So, Luis,
if Trump does win reelection, what kind of twenty twenty
one do you expect? Economically? He's been present in his
economic outlook to left, in particular radical Dems. They hate
the fact that he's been right. He was right to jobon,
(24:33):
to take on Jerome Powell, his Federal Reserve chairman, and
kick his tail all over the front pages of news
organizations across the country. And the clucking from the left
was so loud and so hilarious, because there is precedent,
as you know, for presidents to do precisely that, not
as colorfully, not as energetically as he did. But he
(24:56):
was right. Jerome Powell is too often the case with
FED chairman, newly appointed, decided to show that he really
knew what he was doing, and raised rates four times,
going in to a period of absolutely tranquil inflation, nothing
near the Fed's targets, and the President correctly kicked his
(25:18):
tail for it and said enough and finally intimidated the
board and the chairman into coming to their senses, but
it took this president to do it. He was right,
go through the issues, rebuilding the military, he was right. China,
he was right. Meanwhile, Wall Street is saying, no, you
(25:38):
can't use tariffs that will destroy the markets of the economy,
will collapse. It was the inverse, the economy posting better
than three percent growth and the number of quarters we
were watching manufacturing return to this country. The trade balance
issue is this president's guess what the international Monetary Fund,
(25:58):
the world banked, the United Nations, the central banks of
every European nation, should have been at the forefront agreeing
with this president that we have to balance our international
trade system to assure prosperity, and they didn't. Instead, because
of the politics of the moment and the president's rather
aggressive populism, they felt they would just stand back and
(26:22):
watch what happened. And what happened is this president showed
he truly is the leader of the free world, and
he was right on balance trade. He was right on
China and its predatory trade policies. They're merchantier list as
well as communist, and there's a combination for you historically,
but there it is. And by the way, the greatest
thieves and the history of the world. We built China
(26:44):
six hundred billion dollars a year in stolen intellectual property,
our deficits that ran up to a half trillion dollars
a year. My gosh, what does it take well to
fix these things? It takes Donald Trump, and he proved
he's the man, and he's fixed so much in such
(27:05):
short order. And with the second term, I believe that
twenty twenty one will be a glorious repeat of what
happened when the president was elected in twenty sixteen, in
which he added over thirty trillion dollars. And I say
that advisedly. I truly believe he's responsible for what was
the addition of thirty trillion dollars to our equities markets
(27:28):
from the time that he was elected to December of
twenty nineteen. A remarkable, remarkable period, and I think we'll
see history repeat itself with this president assured a second term.
I just want to say, I think you have done
a real service with the Trump's century. You are somebody
who every single day is covering the news, sting close
(27:51):
to what's happening in business in the economy. You have
been a very sound voice for years for the kind
of breakout and new reform approaches that we finally are taking.
I am personally very grateful do you take the time
to join us? And I'm going to recommend everybody and
it will be on our show page, the Trump's Century,
(28:13):
because I think that it's a very important book, and
I am delighted that you would take the time to
be with us. It's been a highly enjoyable time and
I always enjoy talking with you, and I thank you
for it. I wish all the best, and now I'll
(28:33):
answer your questions. Bruce am from Texas asked, Hello, Nude,
I was wondering how you, as a historian, politician, and patriot,
feel about how our Supreme Court has so blatantly become
a political weapon rather than the upholder of the Constitution.
The fierceness with which both parties fight for nominations has
(28:54):
made it obvious that it is no longer used as
it was intended, and is rather now a side branch
of the legislature. Well, Bruce, I think if you go
back to American history you'll find this, starting with Jefferson's
great hostility to the courts around eighteen hundred that there's
a long tradition of the courts being controversial. Lincoln, for example,
(29:15):
deeply disagreed with the court on the dread Scott decision,
which said that slavery could exist in every state. So
I think Franklin Roosevelt was so frustrated with the courts
that he actually tried to pack them and was defeated
by his own party. So I think the courts have
always been inherently part of how America talks to itself
and how it gradually changes things. Thank you to my
(29:41):
guest Lou Dobbs. You can read an extrat of his
new book, The Trump's Century, How Our President Changed the
course of History Forever on our show page at Newtsworld
dot com. Newts World is produced by Yanguish three sixty
and iHeartMedia. Our executive producer is Debbie Myers and our
producer is Garnsey Slump. The artwork for the show was
(30:04):
created by Steve Pennelly. Special thanks to the team at
Gingwich three sixty. Please email me with your questions at
Gingwish three sixty dot com slash questions. I'll answer a
selection of questions in future episodes. If you've been enjoying
news World. I hope you'll go to Apple Podcasts and
both rate us with five stars and give us a
(30:26):
review so others can learn what it's all about. On
the next episode of news World, Heritage Foundation President Kay
James joins me for an engaging discussion on why the
two twenty election matters and what Heritage is doing to
promote America's core values, protect our election integrity, encourage school choice,
(30:49):
and shape immigration reform. I'm Newt Gingrich. This is news World.
Hi, This is due the virus. I'm recording from home,
so you may notice a difference in audio quality. On
this episode of News World. President Trump has taken on China,
challenged the deep state, secured our borders, and enacted stronger
immigration policies. He's not only made America great again, he
(00:23):
has set a new standard for all presidents, and he's
likely set an agenda for the next hundred years. Lou
dobbs new book, The Trump's Century, How Our President Changed
the Course of History Forever, opens a window into Trump's
thinking on the economy, foreign policy, border security, and it
will energize his allies when they realize the future they've shaped.
(00:46):
I'm pleased to welcome my guest, Lou Dobbs. Lou is
the New York Times bestselling author of six books and
the host of the number one news program on business television,
Lou Dobbs Tonight on Fox Business Network. He's also the
host of the nationally syndicated Blue Doves financial reports airing
(01:07):
on the radio daily. Named TV's premier business news anchorman
by The Wall Street Journal, Dobbs has numerous Emmys, a
Cable Ace Award, a Peabody Award, and many other distinguished honors.
(01:31):
I'm delighted to have this chance to chat with a
good friend of mine, somebody whose show I have been
on many times and it's always pretty remarkable. Blue Dobbs
is the host of the number one news program on
business television. Blue Dobbs Tonight on the Fox Business Network
is a new book coming out called The Trump Century,
(01:51):
How our President changed the course of history forever. I'm delighted,
Loue to welcome you. You cover this country so well
on your show, and you have your finger on the pulse.
What's your sense of what America is right now? We
have never been in such confusing turmoil as now. We
(02:11):
are now a nation that is, in my judgment, under
assault by what was once the loyal opposition, and that
is the Democratic Party. There is no equivocation on their part.
They mean to overthrow this president right up until the
election day and perhaps maybe beyond that. They're vicious, and
(02:32):
they are maniacal in their pursuit of power, and they
mean to take it rested from this president one way
or the other. And if they can't win at the polls,
which in my opinion they cannot, they mean and have
threatened already to do so, take to the streets and
to use as many tactics, Marxist tactics to create great
(02:57):
disruption and unrest in the country. Never seen the like
of it, not during the sixties nor in any other
period which I've lived. It's breath taking. You mentioned in
your book that COVID nineteen is the biggest threat ever
to the re election prospects of the president. I think
without that the Trump would be winning by a huge margin.
(03:19):
So what do you think autimately the effect of COVID
nineteen is going to be on the election. It's difficult
to say, our doubt, but I do believe that the
President will emerge from this with truth at his side,
because the reality is this president's decision making throughout this crisis,
and he was I think correct to call or the
(03:39):
national emergency. Remember there were cat calls and mocking of
the President for wanting to band travel from China from Europe,
for calling it a national emergency, and now the very
same people are criticizing him for delaying doing all of
the things that they oppose. But I believe that we're
going to see a VAX in such advanced stages. I
(04:02):
think we're going to see schools open up. It's unimaginable
to me that he has to persuade people to go
back to school, he has to persuade people to open
up their communities and their cities and towns, because it's
clear now the level of transmission, the mortality rate, and
it's not, thank god, as bad as we had feared.
(04:24):
The reality is that the closure represents his best we
can determine, far worse than staying shut down and shaking
in fear of COVID nineteen and not going about our
lives as best we can. Are you a little surprised
that Harris and Biden have been actively, almost campaigning against
(04:47):
the vaccine? You know, I am. You would expect in
these moments of crisis that they would at least put
on a good show of unity with the president. It
is a public health issue, is legitimately the worst crisis
we faced in decades. But they make no pretense. They
are opposing vaccines, they are opposing opening the economy, they
(05:11):
are opposing this president. They are even in opposition to
the science that they so often accuse others of ignoring.
It is a remarkable period. It is a straightforward lust
for power, a minimus strategy that does not take into
account either the well being or their fellow citizens or
(05:31):
the nation. It's just stunning what they have become in
what they intend, and it is clear that they intend
to wrest power from this president. Even with COVID and
even the other challenges. The real problem for the president
is not Harris and Biden. The real problem for the
president is the propaganda media, which is in my lifetime,
(05:55):
just transformed itself. When you first went into the business,
it was a totally different business. It was a totally
different business. It was a totally different craft. The tenets
of the craft when I became a cub reporter almost
a half century ago, were clear. There were just standards
(06:15):
to which you repaired every day in every way. As
a young reporter, I have reporters come into look for
a job and within fifteen minutes talking with them, they
have no understanding of what an independent objective press is
required to do. They don't understand the language, they don't
(06:36):
understand the values, and no one has even attempted to
educate those values at any point, whether it's from academia
or from a previous series of jobs in the business.
This is a wholesale propaganda operation being run with Corporate
America and the behemoth media companies that own these news outlets,
(06:58):
whether it is The Washington can Post, The New York Times,
NBC News, ABC, Disney, Comcast, AT and T. For crying
out loud, it's just remarkable the economic power that is
concentrated in the hands of a few, and further, the
concentration and awesome power politically that they have acquired by
(07:21):
being the proprietors of fake news, which they are obviously sponsoring, supporting,
and directing because they own it. I've been watching with
fascination the conversation about Disney and its relationship with China.
Communications companies have so much tied up in China that
(07:42):
it's very expensive for them, very risky for them to
tell the truth about the dictatorship. So the first time
I'm seeing it begin to become a public dialogue based
around the Disney film Mulan and the fact that they
actually had the audacity the film part of it in
Western China where the concentration camps are. You were probably
(08:03):
the first national newsperson to really understand the Chinese challenge.
You must have some deep sense of satisfaction that this
president has in many ways taken up your positions. Well,
he was also taking these positions early on himself. I
(08:23):
am so gratified that he is in the Oval office,
because without him there, we would still be talking about
two words. We don't often hear newt. You don't hear
people talking about free trade anymore, do you? In the
public arena? That is dead and buried because this president
has shown the destructive fiction that was pushed and perpetrated
(08:45):
by the US Chamber of Commerce, the biggest lobbying organization
in the country, US multinationals, through the Business round Table
and Wall Street firms, they absolutely have had a reversal
that they never imagined even possible, and that is that
free trade is now seen for what it is. Trade
(09:07):
deficits cut into GDP growth. You sacrifice growth, and we
have sacrificed over the course of fifty years through trade
deficits somewhere between five and ten trillion dollars, depending on
how you want to calculate it. But that's an extraordinary
price for something called free trade. And in that attached
(09:28):
the insistence of Wall Street and Corporate America to outsourcing
jobs and the loss of three million manufacturing jobs, millions
in service industries as well. It has been a horror
over the course of the last thirty years for working
men and women in this country and their families. Our
middle class was savage, and many people don't realize the
(09:50):
middle class wages stayed stagnant over the course of two
full decades. It took this president to reverse it. And
he had to take on the orthodoxy of academia, the
orthodoxy of Wall Street, the business establishment, the political establishments
of both parties. And that is why he is in
the fight of his life politically, because, as you know,
(10:13):
the establishment never stands still when challenge, and they have
been absolutely upended and disrupted by this president, and the
ferocity of their response is obvious every day. I was
(10:41):
startled when the Chamber of Commerce decided that it would
endorse twenty three Democrats, even though their first vote is
going to be for Nancy Close, and I thought, this
is a complete sellout of the interest of most American businesses.
They're the building down there in Washington, and they exist
independent of the people that are supposed to be representing.
(11:02):
They have been independent of all. But I'm going to
say somewhere in the neighborhood of approximately the same population
of the Business Roundtable membership, about one hundred and thirty
five to one hundred and fifty US multinationals. They've held
thray over the Chamber, they have set the agenda for
which had lobbies every day with great power and economic influence.
(11:25):
To see them go with radical Democrats rather than stand
with high quality Republican candidates who are, unfortunately for them,
aligned with the President, it tells you the power that
he has right now at this moment in his presidency.
He's been proved right on issue after issue after issue,
(11:46):
and the Chamber. Tom Donighu, the cardinal of Corporate America's
lobbying enterprises, he can't believe what has hit him because
he has for so long been pulling so many strings
so effectively on Capitol Hill. He can't get anyone to listen.
It's got to be stunning to him. I was really
(12:07):
struck with from the very beginning of the Trump campaign.
And you do a good job in your book reminding
us that this was really Trump, long before he was
a candidate, that there's a continuity in his analysis that's
pretty amazing. And I told him in several occasions he
was going to be the most disruptive president since Andrew Jackson,
(12:27):
And I said, look, would you disrupt these guys? They're
going to fight back. You know, they're not going to
roll over. They're going to be pretty pissed off at you.
And I think it's surprised him how really deep and
ferocious has been. Those who know I'm like you understand
that he really was surprised. You would think that as clever,
(12:49):
as bright and just instinctive when it comes to combat,
that he would have understood that would happen. But he
truly was surprised. He was hurt. His feelings were hurt
that the reaction came as it did from some billionaire
friends from the establishment. You could see it in so
many ways that he was gutsick, often at the betrayal
(13:12):
as he saw it his establishment friends. They saw it
the other way, that he had betrayed them. He was
a traitor to his class, to be a populist president
who actually kept his promises. My god, horrifying the idea
that he's keeping promises. Those are supposed to be negotiable throughout,
(13:33):
particularly with the moneyed interest and the donor class braying
at him to move one direction or the other constantly.
He's a unique president. I think, an historic president. I
think he proved it in less than four years. He's
accomplished more. And you're the historian. I'd love to hear
your answer to this, because I've gone back through those
(13:55):
presidents I thought were remarkable, and I can't find anyone
save f Are and Abraham Lincoln, who accomplished as much
as this president in his first three and a half
years in office. It is remarkable to see what he
has done, for which, of course, he gets no credit
from either the loyal opposition or the left wing national media,
(14:17):
or certainly the radical extremists of the left, in some
cases members of his own party, the SOHO Rhinos. I'd
love to hear what you think about Well, I think
that's pretty close to right. I think you have Jefferson,
who for all, did buy half the country, which I
always tell people that I'm prepared to be a Jeffersonian
(14:39):
Conservative if that means I get to buy half the
United States, you know, and yet Andrew Jackson, who took
on the entire establishment over the US Bank. But with
those exceptions, neither of whom had the ferocity of hatred.
I mean, I think Lincoln is the only president who
(14:59):
had the level of intense to have a good friend
who teaches at Princeton and Gettysburg. Helen Guelzo is an
expert on the Civil War bread and in December of
sixteen he wrote me and said, no president has had
the level of vitriol the Trump is getting since the
slave owning newspapers of South Carolina attacked Lincoln. And I
(15:23):
thought it was a very telling thing because in a
sense Trump is to the anti American left what Lincoln
was to the slave arms. He's the beginning of the
end of their world. And I think that they know that,
and I think that's part of why you see the frenzy,
because he was a surprise in sixteen. Now he's a fact.
(15:43):
And I also think that you put your finger on something.
The elites in this country were very pro Chinese because
they were making so much money and they want to
feel good about themselves, so they don't like being told
the China is a dictatorship. They don't like being reminded
about the million people in the concentration camps, or the
(16:05):
methodical destruction of the Tibetan Buddhist culture. And Trump comes
along and he violates all these norms, and he's not
only offending them psychologically, but he's threatening their pocketbooks to
a year scale, I mean billions of dollars, And that's
part of what I think motivates this kind of hostility.
(16:26):
And they are to a remarkable degree in New York,
Los Angeles and Silicon Valley and not in the rest
of the country. So that's also why you get this
strange geographic pattern where you can go through much of
Middle America and you see hundreds of Trump signs, and
then you visit La or New York or San Francisco,
(16:47):
and you just see endless hostility, not necessarily pro Biden,
but deeply anti Trump, deeply and within the American left.
It's a litmust asked in you're measured by the level
of mile that you can generate about the president of
the United States. And we see it in Manhattan, of course,
(17:08):
at Los Angeles. You mentioned Silicon Valley, the so called
big tech chiefs. It's an interesting language we have. We
refer to billionaires in Eastern European nations in particular as oligarchs.
Billionaires here are fabulously wealthy and brilliant people who have
only the nation's interest at heart. It's really a fiction
(17:30):
that I think this president has, if not destroyed, he
has significantly altered for the better for this country. We're
starting to look with scales removed from our eyes and
what we have wrought in terms of Silicon Valley and
the enormous economic power they possess, and electoral power as well.
(17:51):
This is going to be a job for Donald Trump
to do what he has promised he would do, and
people forget he promised to break up big tech, and
I think in the second term that we will see
him take that on in a very energized way. We
may actually see the Justice Department bringing a case against
(18:13):
Google before the election. I would sheer that. Yeah. I
think that the degree to which they now are sliding
into anti trust there to I always tell people we
have a deep visceral hostility to centralize power. And it
was true with the standard oil, it was true with
(18:33):
the railroads, it was true with IBM, and with AT
and T. And these guys have now slid into that
because they're abusing their power and therefore they're not behaving
as though they are holders of a public trust. They're
using that position to radically change these You've done so
(19:09):
much business coverage over the years. Were you surprised by
the speed with which the Trump economy replaced an accelerated
past the Biden Obama economy. Yes, that's a good way
to put it. I was surprised by the speed with
which it had occurred, which speaks to the pent up
(19:30):
energy that had been suppressed through regulation through the noxious,
anti business, anti capitalist leadership of the Obama Biden presidencies.
I didn't fully realize the degree to which they had
been successful, in that the president, within a year of
(19:51):
strong leadership, had awakened all of those animal spirits and
we started seeing great things happened as soon as he
put the two regulation into a fact. That is, for
every regulation created, too half to fall. My hope has
been and I went back and read Grant's book on
the Depression of nineteen twenty twenty one to get a
(20:12):
field for this, because that was a depression that was
so v shaped that it never entered the collective memory.
We went into it. It was very bad for about
eight or nine months. Then we came out of it,
and unlike the Great Depression of the thirties. It didn't
shape the twenties because it was over. And Trump has
talked repeatedly about a steep, v shaped recovery, and it
(20:35):
seems to me he may be getting it. What's your
take of how the economy is responded with nineteen twenty
coming after the pandemic of nineteen seventeen eighteen, there's a
terrific analog with what we were experiencing, and with the
China virus pandemic and the quick recovery, it has been
(20:55):
an elastic response. The economy has moved because of some
three trillion dollars in fiscal stimulus and probably somewhere in
the neighborhood of six trillion and monetary stimulus by the
Federal Reserve. And we've seen remarkable strength in this economy
given what we went through in the second quarter, and
(21:17):
it's sustaining. I'm amused to see Reuters and Bloomberg and
a number of out less the New York Times included,
every number they look at, they find a way to
say it's slower, it's worse than it was, when indeed
you have to look with your lying eyes and see
what truth is. We are seeing a remarkable recovery in
(21:38):
the labor market, a remarkable recovery in the housing market.
We're seeing sales of automobiles for crying out loud that
are reaching pre pandemic levels in some cases. This is
truly a remarkable recovery. And if the President can persuade
the Big ten and others to play football and to
(22:00):
help the society, we are going to be in very
good shape, in my opinion, by the fourth quarter. I've
been working on a paper that compares the Biden and
the Trump worlds, pointing out that if you represent say
New York, Connecticut, New Jersey, Illinois, California, it's a great
(22:22):
test bed for everything Biden says he believes in and consistently,
whether it's violent crime or its deaths from COVID or
its unemployment numbers. The Biden world is a disaster. And
if you actually just took numbers for the Trump world
and excluded those, we would be roaring back right now.
It's almost like the Democratic governors are doing everything they
(22:45):
can to put the brakes on until after the election
in the hopes that they won't help reelect Trump. I
know you're right. The Democratic governors are now operating as
a cabal. They're involved in college sports not being opened.
They've shut it down. Their wall is breaking. The cabal
is now being shown up by their peers. The SEC
(23:07):
has shown the way, and the Big ten has shown
themselves not to be quite as big or top as
we thought they would be. They've been something of buttercups
and daffodils, and now they've relented and they're coming back
to who we wanted them to be. The PAC twelve
has yet to follow, of course, but we're seeing city
after city now have to say, you know, we cannot
(23:28):
keep saying we're going to stay close to the election.
It's too obvious. In some of them are seeing their
schools open up despite them, because people are actually asserting
their power in their school boards. And some Americans are
actually realizing that they have greater control over their lives
through proximity to government, and the most proximate government is
their local government. And it's good to see people awaken
(23:52):
to that political reality and to try to take charge.
They keep trying to play games with national government, and
of course I guess all the headlines, but the fact
is we're seeing some positive things emerge from this, and
I think we'll see, certainly more than half the country opened,
and I think driving by certainly going into the election.
(24:12):
So it's another reason that I'm very hopeful about the outcome. So, Luis,
if Trump does win reelection, what kind of twenty twenty
one do you expect? Economically? He's been present in his
economic outlook to left, in particular radical Dems. They hate
the fact that he's been right. He was right to jobon,
(24:33):
to take on Jerome Powell, his Federal Reserve chairman, and
kick his tail all over the front pages of news
organizations across the country. And the clucking from the left
was so loud and so hilarious, because there is precedent,
as you know, for presidents to do precisely that, not
as colorfully, not as energetically as he did. But he
(24:56):
was right. Jerome Powell is too often the case with
FED chairman, newly appointed, decided to show that he really
knew what he was doing, and raised rates four times,
going in to a period of absolutely tranquil inflation, nothing
near the Fed's targets, and the President correctly kicked his
(25:18):
tail for it and said enough and finally intimidated the
board and the chairman into coming to their senses, but
it took this president to do it. He was right,
go through the issues, rebuilding the military, he was right. China,
he was right. Meanwhile, Wall Street is saying, no, you
(25:38):
can't use tariffs that will destroy the markets of the economy,
will collapse. It was the inverse, the economy posting better
than three percent growth and the number of quarters we
were watching manufacturing return to this country. The trade balance
issue is this president's guess what the international Monetary Fund,
(25:58):
the world banked, the United Nations, the central banks of
every European nation, should have been at the forefront agreeing
with this president that we have to balance our international
trade system to assure prosperity, and they didn't. Instead, because
of the politics of the moment and the president's rather
aggressive populism, they felt they would just stand back and
(26:22):
watch what happened. And what happened is this president showed
he truly is the leader of the free world, and
he was right on balance trade. He was right on
China and its predatory trade policies. They're merchantier list as
well as communist, and there's a combination for you historically,
but there it is. And by the way, the greatest
thieves and the history of the world. We built China
(26:44):
six hundred billion dollars a year in stolen intellectual property,
our deficits that ran up to a half trillion dollars
a year. My gosh, what does it take well to
fix these things? It takes Donald Trump, and he proved
he's the man, and he's fixed so much in such
(27:05):
short order. And with the second term, I believe that
twenty twenty one will be a glorious repeat of what
happened when the president was elected in twenty sixteen, in
which he added over thirty trillion dollars. And I say
that advisedly. I truly believe he's responsible for what was
the addition of thirty trillion dollars to our equities markets
(27:28):
from the time that he was elected to December of
twenty nineteen. A remarkable, remarkable period, and I think we'll
see history repeat itself with this president assured a second term.
I just want to say, I think you have done
a real service with the Trump's century. You are somebody
who every single day is covering the news, sting close
(27:51):
to what's happening in business in the economy. You have
been a very sound voice for years for the kind
of breakout and new reform approaches that we finally are taking.
I am personally very grateful do you take the time
to join us? And I'm going to recommend everybody and
it will be on our show page, the Trump's Century,
(28:13):
because I think that it's a very important book, and
I am delighted that you would take the time to
be with us. It's been a highly enjoyable time and
I always enjoy talking with you, and I thank you
for it. I wish all the best, and now I'll
(28:33):
answer your questions. Bruce am from Texas asked, Hello, Nude,
I was wondering how you, as a historian, politician, and patriot,
feel about how our Supreme Court has so blatantly become
a political weapon rather than the upholder of the Constitution.
The fierceness with which both parties fight for nominations has
(28:54):
made it obvious that it is no longer used as
it was intended, and is rather now a side branch
of the legislature. Well, Bruce, I think if you go
back to American history you'll find this, starting with Jefferson's
great hostility to the courts around eighteen hundred that there's
a long tradition of the courts being controversial. Lincoln, for example,
(29:15):
deeply disagreed with the court on the dread Scott decision,
which said that slavery could exist in every state. So
I think Franklin Roosevelt was so frustrated with the courts
that he actually tried to pack them and was defeated
by his own party. So I think the courts have
always been inherently part of how America talks to itself
and how it gradually changes things. Thank you to my
(29:41):
guest Lou Dobbs. You can read an extrat of his
new book, The Trump's Century, How Our President Changed the
course of History Forever on our show page at Newtsworld
dot com. Newts World is produced by Yanguish three sixty
and iHeartMedia. Our executive producer is Debbie Myers and our
producer is Garnsey Slump. The artwork for the show was
(30:04):
created by Steve Pennelly. Special thanks to the team at
Gingwich three sixty. Please email me with your questions at
Gingwish three sixty dot com slash questions. I'll answer a
selection of questions in future episodes. If you've been enjoying
news World. I hope you'll go to Apple Podcasts and
both rate us with five stars and give us a
(30:26):
review so others can learn what it's all about. On
the next episode of news World, Heritage Foundation President Kay
James joins me for an engaging discussion on why the
two twenty election matters and what Heritage is doing to
promote America's core values, protect our election integrity, encourage school choice,
(30:49):
and shape immigration reform. I'm Newt Gingrich. This is news World.
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