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Scott Bessent 'This ALWAYS ends in decay and ruin' · INSIGHT TODAY

• 0:00
  Speaker 1: Treasury Secretary Scott Bessen is here. You know, they're more
• 0:04
  Speaker 1: scared of capitalism than they are of communism, and communism
• 0:09
  Speaker 1: destroyed Venezuela, and it's coming to New York City.
• 0:13
  Speaker 2: Jesse. It's never worked anywhere before. Give me one example
• 0:17
  Speaker 2: where it's ever worked. It's a thought experiment that always
• 0:22
  Speaker 2: ends in decay, ruin, and the poorest elements of society
• 0:27
  Speaker 2: they're doing much worse.
• 0:29
  Speaker 1: So it's also a situation in China. They don't call
• 0:34
  Speaker 1: it communism, but it's basically that kind of system. You
• 0:37
  Speaker 1: were just there with the Chinese sitting across from Jijingping
• 0:41
  Speaker 1: at that table, were you like trying to grab a
• 0:45
  Speaker 1: fork and just kind of poke these guys like that.
• 0:47
  Speaker 2: A little bit, Jesse. You know, only President Trump could
• 0:51
  Speaker 2: deal with Shi Jimping. He did a fantastic job. He
• 0:54
  Speaker 2: has great respect for him. Clearly, President she has great
• 0:58
  Speaker 2: respect for President Trump. And President Trump rolled into Asia,
• 1:03
  Speaker 2: into China's backyard and did trade deals and peace deals.
• 1:08
  Speaker 2: So we were in Malaysia, the President signed the Cambodia
• 1:13
  Speaker 2: Thai Thailand peace Deal. We did trade deals with Malaysia, Vietnam.
• 1:18
  Speaker 2: Then we moved on to Japan. President, the new Prime
• 1:22
  Speaker 2: Minister got along fantastic. The Japanese agreed to invest five
• 1:27
  Speaker 2: hundred and fifty billion into the US. Then we went
• 1:31
  Speaker 2: and we had the meeting with the Chinese, and I
• 1:34
  Speaker 2: can tell you the President Trump has gotten us into
• 1:36
  Speaker 2: a very good place with the relationship, and it's based
• 1:40
  Speaker 2: on his strength. The US is back.
• 1:42
  Speaker 1: So one of the things that's gotten is this position
• 1:45
  Speaker 1: are tariffs, and the Supreme Court is going to hear
• 1:48
  Speaker 1: the tariff case this week. If they kick that out,
• 1:52
  Speaker 1: what happens.
• 1:53
  Speaker 2: Well, I don't think they're going to I'm actually going
• 1:56
  Speaker 2: to go and sit hopefully in the front row and
• 2:01
  Speaker 2: let's have a ringside seat. And Jesse, this is a
• 2:04
  Speaker 2: matter of national security. If President Trump had not had
• 2:09
  Speaker 2: the i EPO, which is an emergency tariff authority back
• 2:13
  Speaker 2: in the spring, he put AIPA tariffs on China, and
• 2:17
  Speaker 2: last week in excuse me in Korea, the Chinese agreed
• 2:23
  Speaker 2: to start working to bring down the precursors for fentanyl.
• 2:28
  Speaker 2: If fentanyl is not a national emergency, what is China?
• 2:34
  Speaker 2: On October eighth, threatened to curtail rare Earth to the
• 2:39
  Speaker 2: entire world, the entire world. President Trump threatened to put
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  Speaker 2: on one hundred percent tariffs and protected our national security
• 2:47
  Speaker 2: using the i EPA power. And then finally these big
• 2:51
  Speaker 2: trade deficits we've had for years. In economics, there's something
• 2:55
  Speaker 2: called a tipping point, and we were at the tipping point.
• 2:57
  Speaker 2: Fortunately President Trump came in. He put on the terraffs.
• 3:01
  Speaker 2: He is rebalancing global trade in favor of the US,
• 3:06
  Speaker 2: and he has prevented an economic crisis.
• 3:09
  Speaker 1: So the media is going to say, if the Secretary
• 3:12
  Speaker 1: of Treasury shows up front row seat to the Supreme
• 3:17
  Speaker 1: Court hearing on tariff, you're intimidating the justices. They're going
• 3:20
  Speaker 1: to say, Bessett is intimidating Justice Jackson and Sodo Mayor,
• 3:26
  Speaker 1: and you shouldn't show up.
• 3:28
  Speaker 2: Well, they can say what they want. I am there
• 3:31
  Speaker 2: to emphasize that this is an economic emergency. National security
• 3:36
  Speaker 2: is economic security. Economic security is national security. As a
• 3:40
  Speaker 2: Treasury Secretary of the United States, I'm in charge of
• 3:43
  Speaker 2: maintaining both. All right.
• 3:45
  Speaker 1: So the stock market's ripping, and it's taken a little
• 3:49
  Speaker 1: while for us to wind down Bidenomics. Prices are starting
• 3:54
  Speaker 1: to stabilize. We're on the cusp of the Golden Age.
• 3:57
  Speaker 1: You can see the golden age right there. You can
• 4:00
  Speaker 1: almost grab it. For some people, they've already grabbed it
• 4:02
  Speaker 1: if you look at bitcoin or or therefore, Oh one K,
• 4:07
  Speaker 1: where do you see the next year going?
• 4:10
  Speaker 2: I think next year we're going to go back to
• 4:12
  Speaker 2: what we had in President Trump's first term, which was
• 4:16
  Speaker 2: very solid, high, non inflationary growth. So we're going to
• 4:20
  Speaker 2: see very strong job growth and Jesse, I think we're
• 4:24
  Speaker 2: going to have what I call parallel prosperity. Main Street
• 4:27
  Speaker 2: can do well, Wall Street can do well. It's been
• 4:30
  Speaker 2: a long time since main Street's done well, and that's
• 4:32
  Speaker 2: what happened in Trump one point zero hourly workers did
• 4:36
  Speaker 2: better than supervisory workers. The bottom fifty percent of households
• 4:41
  Speaker 2: had a net worth increase. It was higher than the
• 4:43
  Speaker 2: top ten percent. So we are going to see main
• 4:46
  Speaker 2: Street surge here along with Wall Street, which we've already seen.
• 4:50
  Speaker 2: So I think it's going to be a great year
• 4:52
  Speaker 2: next year. I think inflation is going to come down.
• 4:55
  Speaker 2: You know, we're seeing gasoline prices come down. We're seeing
• 4:59
  Speaker 2: we should see interest rates come down, which will help
• 5:02
  Speaker 2: the housing market all right, And if.
• 5:03
  Speaker 1: Things don't work out, you can always give people a
• 5:05
  Speaker 1: little elbow. You have a big reputation. I mean, you
• 5:08
  Speaker 1: walk around the White House and everybody moves back. When
• 5:11
  Speaker 1: you got into a beef with Musk, what did you
• 5:14
  Speaker 1: do to him? What did you do to Elon?
• 5:20
  Speaker 2: Elon and I are both very passionate. I think that
• 5:24
  Speaker 2: what he did with Doge has set very good trend
• 5:29
  Speaker 2: in terms of cutting government expenses that we were able to.
• 5:34
  Speaker 1: You didn't grab Elon by the collar, did you? You would
• 5:36
  Speaker 1: never do such a thing. Well, it's a Secretary of Treasury.
• 5:40
  Speaker 2: Elon wears T shirts, so there is no collar, there
• 5:42
  Speaker 2: is no caller.
• 5:43
  Speaker 1: All right, Good to see the secretary. Thank you so much.
• 5:45
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