Trump Wins — ft. Anthony Scaramucci

25:32And it'll be interesting to see. But if Trump executes his plan, if you don't mind, I just want to go over the plan. The plan is to deport 15 million people. First of all, it's sort of not possible. We don't have the infrastructure for it. But let's say he deports 1.8 million people, which is the prison population of this country. It's an$88 billion load for the taxpayer. OK, you then have to collect these people in armored vehicles and then you have to concentrate them in camps or otherwise known as concentration camps because you you can't immediately deport them. You've got to find a way station for them to go to because there is a process on the other side to get them out of the country.

26:12This will blow up GDP. It'll crush the economy. Musk is out saying, you know, we're going to execute these plans. There's going to be three or four ugly, dark economic years. I don't I don't think the Americans fully understand what they've signed up for. Should Trump try to execute that plan? He's got good parts of that Congress with him. And so it's a it's a dangerous time for people that have grown up in America where there were certain norms that we accepted with each other. Don't necessarily have to love each other or even like each other. But we're here together in this great experiment.

26:48And there's aspirational opportunity for each of us if we stick together. Now, these people are saying something very, very different. It's us versus them. If you're with me, I've got you protected. Just do me a favor. Don't write an endorsement against my adversary. You can keep your for my adversary. You can keep your government contracts. I'm a very transactional guy. How am I going to transact with people that benefits me as opposed to what is in the best interest of the ideals and vision of a future America? So I agree with everything you just said in terms of what would happen if his policies or how things would unfold in the markets if his policies were implemented.

27:31But it appears the markets either A, don't believe that would be the outcome or B, don't believe this is going to happen. What do you think? Who do you think the biggest winners and losers are in terms of companies and the markets and asset classes in a Trump presidency? say. Well, the oil and gas industry is a big winner, I believe. Obviously, Bitcoin is a big winner, Scott. You know, I try to tell these guys on the Democratic side, you're making a mistake in terms of the way you're regulating and thinking about the world of digital assets. You know, Sherrod Brown, for those of you that don't know who he is, he was a senior person in the Senate.

28:04He was the chair of the Senate Banking Committee. Okay. He was ousted by a car entrepreneur that It was given over$40 million from the crypto lobbying community to Al Sherrod Brown because of his antiquated thinking about crypto. And so Trump will definitely put people in position. He's talking about a strategic reserve for Bitcoin using Bitcoin. I think other countries would have to do that. It would be very positive for crypto assets in general. I think banks do well in this environment because you mentioned the 10-year going up. They'll have more floats, Scott. They'll make more money. OK, and he's going to pick and choose.

28:43You know, he's going to pick and choose. So oligarchs that are with him, their companies are fine. Amazon is not going to get broken up. Space S is going to flourish under Donald Trump. Tesla will flourish under Donald Trump. And so the market looks at all this stuff. They're like, yeah, this works for me. I'm long the market. Let's go. But there are things that could create complications for the market. If he decides to pull out of the Ukraine and he decides to partition the Ukraine and give it to his friend Vladimir Putin and he replaces a democratic regime in Ukraine with a Soviet-style puppet there, I think that's going to have monumental consequences in Eastern Europe.

29:27There is a reason, podcast listeners, pay attention. There's a reason why Finland and Sweden, 74 years of NATO, they don't want to be part of NATO. And it's 75th year. They're like, hey, guys, we need to be part of NATO. OK, Vladimir Putin is flexing. Now, he has a small economy. It's roughly the size of Texas, but he's got a heavy nationalistic military interest on expansion. and if he starts to do that, it will wreak havoc in the market. So when I say for now, sure, I understand why people are bullish, deregulation, you know, and Donald Trump is just kidding. Scott, I've been traveling the country.

30:10As you know, I do a lot of public speaking. I did three live shows here in the United States, and I did seven of them in the UK. I asked the following questions to thousands of people. Does Trump mean what he says? Is he going to do what he says? Or is Trump just saying that the bellicosity of his rhetoric is nonsense? He's not going to follow through on it. It's 80-20 universally. 80-20 that he does not mean what he says. OK, and this is the most interesting time in the world where we have a presidential candidate that is promising to do something. His supporters have voted for him. And in the exit polling, they say, yeah, he doesn't really mean what he says.

30:52He's not going to do that. The market does not believe he's going to do that. But I submit to you guys, if he does 15 % of what he says, he's going to damage this system that has made so many people prosperous. Are we in need of tweaking the system? We certainly are. Are we in need of making the system better? No question. But to bring down the system and to change the world order, OK, at a time like this where 5.7 billion people live under forms of autocracy around the world, I think it's very dangerous for markets. You know, people take for granted free shipping lanes sponsored by the U.S. Navy until they no longer exist, guys.

31:40And then all of a sudden the cost of goods and services and importation, exportation go through the roof and people are scratching their heads and say, wait, I thought that was there. One of the best things I've ever seen in politics, guys, is a placard that's held up by Trump supporters or Tea Party people. Get your government hands off my Medicaid, off my Medicare. And then you go to the person, excuse me, that's a government program. Trump understands something about his supporters that everyone needs to understand. They are social conservatives. They want a job in your bedroom. They want to oversee what you're doing in your bedroom.

32:20And if you're a woman, they certainly want to have some control over your uterus. OK, but they are fiscally liberal. They want the government services. They want the the transfer payments from the government. And Trump understands that better than anybody, which is why he had an eight trillion dollar print in four years of deficit spending. And again, just so people understand that that's George Washington to George W. Bush,$7 trillion. Donald J. Trump, four years,$8 trillion. And what are we doing on the spending, guys? No, we're going to ramp up the spending. We're ready to rock and roll with the spending.

33:02And, you know, I guess people think it's going to be OK. And maybe they'll be right. And I will be wrong. It's certainly going to be right in the short term. But are they going to be right in the long term? And that's the thing. This stuff usually ends in tears when you're moving towards individualism and you're moving towards a more transactional, less holistic society. Yeah, I was just going to ask about the deficit because I think that's one of the main reasons we've seen so many voters basically look past his character. Because in their view, they think that he's going to reduce wasteful spending.

33:39You know, he's going to bring in Elon. He's going to create the Department of Government Efficiency. presidency, he's going to gut all of this wasteful spending that we see in government, which is another way of saying he's going to reduce the federal deficit. If you look back at his past presidency, the evidence would say, no, he won't. So could you speak more to why you believe, it sounds like you believe pretty categorically he is going to run up the deficit even more. Could you just take us through why you believe that? Remember, the last rhetoric was, I'm going to balance the budget. 2016, I'm running.

34:10I'm going to balance the budget in four years. OK, so, you know, what the great thing about Trump, he's a human kaleidoscope. You look through the lens. You see what you want to see. If you don't like what you see, you turn the aperture slightly in a new pattern forms. It's OK, I like that better. So Trump says so many different things. If you're supporting him, you pick the things that he says that you like. And if you're denouncing him, you pick the things that he doesn't like. But he says so many things. You know, at one point he's saying they're very fine people on both sides of a Nazi rally.

34:44The very next day he denounces it. There's one group saying, well, he said this. The other group saying he said that. And so you have to understand he's not going to be able to do that. Number one, Elon Musk is not going to work for the government. He's not selling SpaceX. He's not selling Tesla to install himself into the government. Number two, you cannot cut$2 trillion from the federal government. I'm sure there's overspending. I'm sure there's excess in the government. But you can't go into a massive austerity program to that magnitude. Unless you want to get rid of the military. Yeah. You can't take six to eight percent of the GDP, OK, and not put it to work.

35:25You'll crush the economy. And when you crush the economy, you're going to throw people out of work and you're going to create rebellious dissension in society. Trump is not a stupid person. He's not going to do that. OK, moreover, you don't want him to do that. You know, the Brits would tell you they've had 14 years of austerity. It doesn't work. What works is entrepreneurship, aspirational laboratories around a society, grow your economy. What works is you're at the end of World War II, you're 125 % debt to GDP, and you're not paying it back, but you're growing the GDP so exponentially that the debt is actually manageable by your taxpayers and manageable by the system that you set up.

36:12And so we have to focus more on that. And I'll tell you guys, whether you like it or not, you need population influx. You don't need pop. You don't need depopulation in this country. We need more workers. We need more people in the country. The great irony of what Donald Trump is suggesting. I'm going to deport 10 million people. Oh, by the way, do you know if you naturalize those people, they're not all voting blue like Elon Musk says. Many of these people are traditional families and Roman Catholics that have elements of conservatism in their personalities. Guess what happens to these people, guys?

36:49They vote like every other American. Some of them are going to vote red. Some of them are going to vote blue. You know, you can't make they make these very simplistic blanket statements about large groups of people to engender xenophobia and to trigger people to turn on their neighbor. OK, I don't want to turn on my neighbor. OK, I want my neighbor to have a nice house. I want my neighbor's family to do well. I want my neighbor to feel good about themselves. OK, that's the spirit of America. That's the America that we grew up in. That's the America that we should figure out a way to expand upon.

37:29I don't want to, hey, you know, it's us versus them. We're here. You're not. Let's lower the gate now. OK, that's not the America that got started a couple hundred years ago. And that's not the America that we grew up in. You mentioned you don't think Elon will be part of this government. I was going to ask that question. Why do you think he won't be? Well, he's got too many conflicts of interest. I mean, listen, if we're going to break every norm and break every rule, and we're going to let Elon Musk be a government official and run multiple billion-dollar, trillion-ish-dollar companies, okay, that's going to be in its own way a path towards a very weird oligarchy in this country.

38:14Okay, I don't think— But isn't that exactly the plan? That sounds exactly where we're headed now. Look, if that's the plan, there will be people like me. I'll probably get thrown out of the country for exercising my free speech rights and denouncing that and explaining to people how dangerous that is. Because when you move towards strongman leadership and you move towards autocratic thinking, a lot of people at the top get very, very rich. But the rest of the people get devastated because cronyism and the ideas of quid pro quo exchanges come into play. You know, imagine a Jimmy Carter set up that way or a George Herbert Walker Bush or a Bill Clinton.

38:58Okay, like or dislike any of the politicians I just mentioned, Ronald Reagan, George W. Bush, they all looked at the country and said, okay, I'm here to serve the country, and I'm here to work inside the norms of the system, because this system has been grounded with experimentation over hundreds of years. It may not be perfect. It may not work perfectly, but it works for the most amount of people. There's a reason why this is the most prosperous nation in the world. There's a reason why we have great intellectual capital in this country and great innovation. We have a very flat, decentralized government.

39:38Rich, smart people don't get it right on everything. I don't want Bill Ackman operating on my brain. I know he's worth more money than me. And I know as a result of that, he may think he's smarter than me. And he may think he's smarter than everybody on planet Earth. But he also may not be. OK, Scott Galloway may be smarter than him in so many different ways. And you, too, Ed. And so my point is we got to take a step back and recognize that the system that we put in place, there is wisdom in crowds. What did Lincoln say about the American people? OK, you say they're not smart. I say that they have a good nose.

40:16They can smell a rotting cadaver in their basement. Now, the question is, why did they make this decision last night? And I think the Democrats have to sit around and ask themselves that question. You know, on the exit polling, guys, last night, number two was threat to democracy. 60 percent of the people thought that the Democrats were the threat to the democracy. Democrats are saying Trump's the threat to democracy. Elon said they're the threat to democracy. He used his$44 billion megaphone to tell the people that. OK, and now maybe neither of them are a threat to democracy. I don't know. OK, but I want it.

40:54I want the framing of that constitution, the three separate articles. And I want that system to be refined and improved, certainly. But I don't want it to be crushed. I know that that is a good framework for us to become prosperous, more prosperous and more deeply prosperous, where more men and women in the society can partake in the wealth and success of the United States. we'll be right back but first we want to remind you that we have even more election coverage on our raging moderates podcast co-hosted with jessica tarlaw from fox you can find raging moderates wherever you get your podcasts

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43:03We're back with Prof G Markets. Anthony, you were in the administration. You know the people around him. Who from kind of the old school gets brought back in? And who are some new people he'll probably bring in? Who are going to be the old and the new power players? And how will the overall complexion change of the people of his team? So you'll not be amazed by this, Scott. But after the insurrection on the 7th, many people denounced Donald Trump, 7th of January 2021. Those very people are on stage with him last night. Remember, J.D. Vance called him the American Hitler, and he's his vice president.

43:43So you'll be impressed with the way people will pirouette for Donald Trump. So Gary Cohen, I believe, will be back. I think Jared Kushner may have a role, although it might not be inside the White House. but it'll probably be some advisory role, ambassadorial role to the Middle East, something that will help him with his businesses. You'll have Howard Lutnick. I don't know if you know Howard Scott, but he's the CEO of Cantor Fitzgerald. He's the head of the transition team, Linda McMahon. Linda did a great job with the Small Business Administration. I suspect she'll be the Commerce Secretary. I'm not sure who will be the Treasury Secretary, but if I was guessing, it would be Scott Bessent.

44:25He's a hedge fund manager that formerly worked for George Soros, a very, very smart, very capable guy. Jamie Dimon, any chance? So I don't know. I don't know if Trump would enlist Jamie or not. I don't know if Jamie would want the job. You know, there was thoughts about Jamie wanting that job in 16, but Trump felt compelled to give it to Steve Mnuchin because Mnuchin was with him. And I thought Stephen did a very good job at Treasury. But there will be a collection of old people and new people. Well, Trump is very good at what I call the Donald Trump carousel. You come in, you're waving to the crowd, you're with Trump.

45:02He hands you the MAGA hat. You're smiling. And as you go by him, he plunges the knife in your back. And then the next guy shows up and he does the same thing to that guy. And then the next guy shows up. He has been masterful at always finding opportunistically people that are willing to help him. He was sending out tweets in 18 and 19 that Elon Musk should have been on his knees barking like a dog in the Oval Office, baying to me. And now they're both buds and they're cavorting around together. OK, all of those relationships will end in tears. J.D. Vance right now is flying high. I'm going to be the sitting vice president.

45:45But the price you paid is you put your entire head inside the mouth of a lion. OK, and he's going to end up just like Mike Pence did. Hopefully you guys will invite me on and I'll say, hey, I gave you a heads up. Vance's career is ruined. It's finished. He doesn't know it. He sees himself as a future president. He sees himself as the successor of MAGA, but it doesn't work like that with Trump. Because any type of attention you're getting that's taking away from Trump, you go into the Donald Trump woodchipper. It's just the way it works. And so, and again, if you don't believe me, you know, you guys are analysts and research people.

46:24Just go over the legions of people that he has done this to. There is a reason why 45 of us who work for him were trying to warn people of what his capabilities are. One of the things that was quite unique about this election was it was the first one where we could bet on this legally. You know, we've seen all these new prediction markets. We've seen Kalshi and Polymarket predicted. I'd love to just get your overall view on these markets. Has there been a positive effect from these markets, a negative effect? And do you think that they should remain legal? So I think they should remain legal. I think there is a free market.

47:03I think ultimately those prediction markets were correct. You have to accept that maybe some of them were thinly traded like polymarket and they could have been unduly influenced. But I don't think it was too dramatic. I would just like them more regulated. I would like people to basically be able to bet in those markets. Remember, the original standing of the SEC, it wasn't a political instrument of power for a party or a politician. What Roosevelt wanted, and there's a great book on this, Susanna Henriquez wrote a book called Taming the Street, and it's a history of the early part of the SEC.

47:43What we were trying to do is just make the capital market safer in the country. It was very apolitical. It was what is the right policy to make it safer versus what's the wrong policy. It wasn't left or right. Gary Gensler, the worst SEC chairman in the history, the 90-year history of the SEC, him and Elizabeth Warren came in there and weaponized the SEC. OK, and so I would like to go back to an apolitical standard for that instrument. Now, somebody like Jay Clayton, I don't know if you guys recognize that name. He was Trump's SEC chairman. I helped him get that job when I was on the transition committee.

48:23He's a former Sullivan and Cromwell partner. He's raised his hand. He's willing to go back to work for Donald Trump. He's not a political person. He's more of a policy servant. and I would like to have more people like that in the government. And in that case, Ed, those markets should fall under that jurisdiction and just make sure that those markets are as wide and deep as possible so that they can't be unduly manipulated. But I would certainly want those markets to exist. Yeah. I just had the founder of Calci on this podcast and he revealed to me that they regulate themselves at the moment. That's how it works, which is unbelievable.

49:02Well, yeah, because they can't get any clarity from our regulatory. There are regulatory authorities right now want to regulate through enforcement. So the reason why the market's up 1 ,200 points is the market's looking around and saying, OK, if Trump reappoints Jay Clayton, you'll go to something that isn't political. It'll be more about the rigorous transparency necessary. What do capital markets want? They want rigor and transparency, and they want a reduction of fraudsters. They want help uncovering fraudsters, and they want rigorous transparency and disclosure. They don't want Gary Gensler and Elizabeth Warren picking winners and losers.

49:47They don't want Gensler telling you, well, Ripple's a security. He loses the court case, and then he triples down on Ripple being a security. All right, they don't want Ripple having the same rough properties as Ethereum. One is a commodity and is able to get a cash ETF, and the other one's in a forever lawsuit with the SEC. No sensible person would look at the way they're arbitrarily and capriciously administering those laws and say that that's good for capital markets or good for the country. It's interesting because I think a lot of people would argue that we're going to see that under this administration, that we're going to have the guy in charge, the king, with the divine right of kings, basically picking the winners and losers, i.e.

50:32his friends. So if you want to, if you're a Tesla stockholder, you're probably pretty happy right now. I think a Trump presidency likely just means that you get fast-tracked to returns. What would your response be to that? I want to be as balanced as possible. I think that is the case. That is the danger that there's an oligarchic funnel at the top and revenues come off of the federal government into that funnel and feeds the oligarchs that are close to Trump. And he figures out a way to line his own pocket. We've seen that story, that tale as his oldest time. But there are good parts of the right as well where there are things that they see in markets that they know that they want to make them efficient as opposed to weaponize them.

51:16You know, again, tax policy can be used as a social instrument or tax policy could be used as a way to gain revenues. It could be a user fee for services that a government is rendering. You know, and I think we have to get back to that. We have to say, OK, we're paying X, Y, Z in taxes here in New York, a result of which these are the services that we would like to receive from our government. And let's have a little bit of accountability on whether or not those services are being rendered. So so look, the problem with all this, there's good parts of the right and there's good parts of the left.

51:50How do you make the mosaic work in the most optimal way for the American people? By the way, Galloway, I'm just letting you know, I don't drink, but if I did drink, this entire bar behind me would have been consumed last night at about 4 a.m. Do you know who, just a quick digression, do you know Dan Harris' 10 % Happier? Yes. Yeah, 10 % Happier. Yeah, I read his book. Yeah, he's a lovely guy. And I had him, we had him on the pod yesterday. And I've been more stressed about this than I have been about most things in a while. And I can't figure out if it's just neuroses or I have insight that this is somehow more seminal or more important than usual.

52:28Anyways, last night. Because you're a student of human beings. You know this could be very dangerous. Well, you're being generous. But so I tried. He has this thing called the straw breathing method where you breathe in through your nose and then take double the time for exhale. I tried that last night. And fuck that if that didn't do anything. And so I moved to Peroni and Xanax or as I call it, Panax. And it worked. I started dancing to 80s music. That actually a pretty good, like they called Oregon for Kamala. And that felt amazing, even though that was not that amazing. Anyways, my sense of him is a good long-term leadership is doing hard things in the face of adversity that pay off long-term or prevent a tragedy of the commons.

53:13my sense is that's not Trump, that he wants to be loved and he has the biggest credit card in the world in the form of our printing press and the full faith and credibility of the U.S. Treasury, and that I would bet fairly soon he's going to announce a series of tax cuts. One, do you think that's likely? Also, just a follow-up question, Donald Trump media, I wanted to bet on this market, and I went into Polymarket and went into all these things, and you can't bet from the UK, and there's all this shit. I just, like, I got overwhelmed and ended up not doing it, so I went out, and I shorted Donald Trump stock.

53:54And, of course, last night it spiked 50%. And now it's back to kind of where it was. I'm curious, one, tax cut, and two, what do you think happens to Donald Trump media? Well, okay, so this is, you know, this is very cynical of me, okay? So I'm going to just tell you what I think cynically. He'll try to push through that tax cut. The CBO will tell him that this will create massive, massive deficit spending. He won't be able to find anything that he's going to cut in the government to offset the tax cut, the reduction in revenues. and that'll cause, you know, look, it'll cause a sugar high for people.

54:31You know, we're a very powerful country. We're a dollar denominated world. And so we can extend our debt longer because we're paying it back in our own currency, which we in fact can create. We'll extend our debt longer. But if the BRIC countries, other countries start denominating things and hard assets and gold and things like that, you know, then I think we're going to at some point, we're going to have a reckoning there. But I do see a tax cut coming and I do see Wall Street liking that. They're envisioning a lot of that will drop to the bottom line. The second thing with DJT, there's nothing there.

55:04He's got 600 ,000 users. They're rarely on the platform. He is the platform. But there would be no reason why these centa millionaires. Again, let me rephrase that. There'd be no reason why these centa billionaires, because we do have centa billionaires in our society couldn't feed that stock to enrich Donald Trump, right? So that stock could have a three, four billion dollar market cap. And Donald Trump files a registration with full disclosure that he's selling into that market cap. And those billionaires are effectively enriching him, okay, recognizing they're not getting anything of any material value in that company.

55:48But it is a very specious and unusual way to avoid campaign finance issues and to avoid enriching a candidate or a political figure. And so you want to talk about norm busting or rule breaking. These guys are launching meme coins two or three weeks before the election. You know, and now that meme coin did fizzle. They didn't get a lot of demand for that mean boom because it was prima facie. What it was was just a ridiculous Ponzi scheme. But he's the sitting president. He's one of the most powerful people in the world. I can tell you there are heads of state right now all over the world that are trying to figure out what their personal relationship is going to be with him, what their government's going to be, their relationship is going to be with Trump's government.

56:37And what does it mean for their protection? If you're in Australia and you're looking north to China, do you want America as your friend? Do you want Donald Trump's help? Is Donald Trump going to disengage from you? You know, how many Americans know that we have a Marine battalion in Darwin, the northernmost city of Australia? How many people know that we cut a large submarine deal with them to help protect the waters around Australia? Donald Trump is telling people that he wants isolationism. He wants to reduce our footprint around the world. You know, there's lots of things that are going on right now.

57:16And one thing we know about him, he's transactional and he's easily influenced. So so you tell me how, you know, DJT stock can end up being a home run for Donald Trump and his family, but not for the consistent usual reasons of a startup having a successful IPO. and having great earnings, great fundamentals and great growth. Is there any tail risk here? Do you have any predictions and things that you think might happen or will likely happen over the next 12 months that the media is missing right now? So I was thinking about the very same thing last night. I've come up with two things that are tail risks.

57:55They're not, you know how Rumsfeld used to say there are known unknowns and there are unknown unknowns. These are known. We just don't know the direction that could go in. But I have to tell you the Ukrainian issue is a very, very big issue. Moreover, OK, the minute he ends the war in Ukraine or potentially partitions that country, does he then flip and help his friend by wiping out all these sanctions? And then what does that mean for Putin? How does that empower Putin to think about taking other countries? You know, that Moldova election the other night, that woman won that election. She's a pro-democracy person.

58:38She was up against a Putin puppet and she was up against all the social media machinery that was engendered by Putin. Moldova is a small country, but if it falls, it falls, right? You know, and all of a sudden the dominoes start falling. You know, Roosevelt understood this better than any modern statesman. But he read in German. You know, he lived in Germany for several years as a student, as a young man. And so he listened to Hitler's speeches in the original German. He read German. He read German newspapers. And he was like, this is going to cause us a very big problem. People are not going to see this as their problem because it's over there.

59:25But unfortunately, whether we like it or not, we're all conjoined. and this is going to cause us a problem. And so, you know, think about what he did. Lend-lease is sort of the same thing that we're doing for the Ukrainians right now through the Biden administration. Imagine Donald Trump in the Second World War. Would he be practicing lend-lease with Joe Stalin and Winston Churchill? I mean, I think we know the answer to that. It's self-evident, but these are the things that I'm worried about. The U.S. has been predictable and reliable as a partner. Have we made policy mistakes? Certainly. Should we have gone into Iraq and Afghanistan?

1:00:05Perhaps not. Certainly not Vietnam. But we're predictable as a partner. You need our help. We're at your doorstep. When we stop going to the doorstep, what ends up happening is unnatural alliances form. You know, people need each other in a way that you didn't think. And I don't leave you this thought, and you should really think about this because our elders understood this. Marshall understood this, Eisenhower. There was a paragraph written in the Leviathan 350 years ago by Thomas Hobbes. And the paragraph read, and I am paraphrasing it, but the paragraph said that we are at our greatest level of global peace and global prosperity if there's one hegemon, If there's one superpower through its military might that's able to suppress the internecine tribal conflicts around the world.

1:01:00And he illustrated that. That would have been Pax Romana. That would have been Pax Britannia. It eventually became Pax Americana. And the point, and our elders understood this, that we had a big military footprint and we are a benevolent force for good and rising global living standards. that would be very, very good for America and the world would think very well of us. If we're going to retract that and America becomes an unreliable partner in the idea of Western liberal democracies and the idea of the alliance, I think that has lots of negative consequences down the line, lots of derivative negative consequences that you may not see today, but you may see tomorrow in terms of the way America and Americans are treated around the world.

1:01:50Just one final question from me, Anthony. And again, thank you for your time. It's always just such a treat to have you on. I love how you draw from history and contextualize it. It really, it puts things into perspective. Is there anything that you are optimistic about? Is there anything over the next four years that you think Trump could do a good job of? Yes. You know, there's lots of sides to Trump's personality. You know, there are people inside his campaign that have said to me, you know, he was sore about losing in 2020. He was adamant about trying to regain the presidency. Of course, he's the only second person to do that.

1:02:29Grover Cleveland did that. And there's a thought that he's 78 years old. He's going to want to play a lot of golf and he's going to he's a status seeking guy. He may put the Jamie Diamonds in place and Larry Finks and these superstar executives to run the government. And he may hightail out of Washington a lot and be an absentee sort of landlord of the White House. OK, so there is a thought that that could happen. But up against that thought, he's got a lot of hard right people that have Velcroed themselves to him in the last two years and they want to systematically change things about our culture, women's reproductive rights, et cetera, and systematically change things about the way we process our government.

1:03:17And so I think those people are dangerous. I've spoken out against those people. And frankly, I will continue to try to do that and try to be a voice of reason in our society. You know, I like you guys. What makes you guys so good at what you do is you love people. You know, Scott and I have spent some personal time together. He loves his students. He loves people. He wants to see American men get a restoration of their self-esteem and their self-confidence. And people can feel that from him. I love people. I'll leave you with this thought. My grandmother always said this to us. The best among us choose not to judge human beings' frailties.

1:03:58Okay. And what we have to do is sometimes recognize that we have shortcomings. Rather than denigrate and dehumanize, let's give each other a little bit of a break. And by the way, that also means ourselves. When we do things that are stupid, you know, don't be so hard on ourselves. Let's not judge human frailty so harshly. And, you know, listen, you know, that's where I want to be. And that's the type of leadership I'd like in the country. This was really rough, very negative rhetoric that came out of Trump's mouth during this campaign. and if he executes on it, we're going to have some sad times here.

1:04:32But if he doesn't, you know, maybe things will be fine and then we'll get to the next election and we'll have a real good debate. The Democrats will have to reform themselves for sure. I think that the Republicans are going to triple down on MAGA. So the Democrats will have to reform themselves and present something very different to the American people than what they've been doing recently. Anthony Scaramucci is the founder and managing partner of Skybridge Capital, a global alternative investment firm. He previously served as the White House Director of Communications for 11 days of the Trump administration.

1:05:06By the way, Anthony purposely puts that into his bio. You can find him on two podcasts. One is called The Rest is Politics U.S. and the other is called Open Book. Anthony, you're easily one of our favorite guests. Really appreciate you coming on on such an intense and busy day. Well, no, I appreciate it. Guys, I appreciate the opportunity, as you know.

1:05:57You help me In kind reunion As the world turns And the dark flies In love

1:06:30I have not changed out of my pajamas. I've had a Xanax and three beers.