Sorry, you missed the trashing US government part and ballooning the debt. From my representative’s weekly update today:
“As a member of the House Budget Committee, I’ve seen firsthand how badly Washington needs a course correction. Our national debt now stands at $36 trillion. We’re spending more to service that debt than we are on national defense. Families are paying more for everything — groceries, gas, utilities — and wondering if anyone in Washington is listening. That’s why Americans voted overwhelmingly for change, and this bill [does not - only more to the rich at cost to the poor] delivers that change.
. . . . Nationwide, this bill is expected to help save or create up to six million jobs. It delivers expanded tax relief [to the wealthiest permanently extended tax breaks, reportedly limited worker relief] to workers and parents, makes good on President Trump’s promise of no taxes on tips, overtime pay, and auto loan interest, and strengthens key deductions for manufacturing, investment, and small business growth. We’re building an economy that rewards work. [nothing like it rewards wealth]
. . . . But this isn’t just about tax policy. Restoring American energy dominance is one of the most impactful steps we can take to lower costs for families and strengthen our national security. This bill restarts oil and gas leasing, cuts red tape [like environmental regulations], and reclaims our place as a global energy leader. By producing energy here at home, we can reduce reliance on adversaries like China and Russia, . . . . and create thousands of good-paying jobs across rural America. . . .
We’re also investing nearly $144 billion to modernize our military and strengthen national defense. We’re securing the border with the largest investment in enforcement infrastructure in our history, including funding to finish the wall, hire thousands of new agents, and remove dangerous individuals who entered our country illegally. And we’re unlocking American energy production to lower costs and restore energy independence.
Some critics are already trying to mislead the public, especially when it comes to Medicaid. . . . this bill does not intend to cut care for those who need it; it aims to end fraud and abuse. [there’s minimal fraud/abuse] Since 2019, Medicaid costs have skyrocketed by 51 percent as states use federal dollars for rent, utilities, and even transportation—things Medicaid was never intended to cover. In places like California, illegal immigrants are getting free taxpayer-funded health care while vulnerable Americans are left waiting. That’s unacceptable. This bill restores Medicaid to its core mission: helping low-income mothers, seniors, children, and people with disabilities.
We also put an end to hundreds of billions in Biden-era tax giveaways to special interests and corporations. We’re eliminating wasteful green energy slush funds, rolling back unfair perks for elite universities and billionaire team owners, and returning that money to the American people.
This legislation reflects months of hard work and a serious commitment to getting our country back on track. It addresses the concerns I hear every day from families, workers, and small business owners”
The European Union produces virtually nothing that the United States cannot live without. With the exception of ASML—the Dutch-based manufacturer of advanced semiconductor lithography machines—EU exports are overwhelmingly non-essential luxuries, niche goods, or products that American industries can readily replicate. Even ASML, often touted as Europe’s “crown jewel,” is utterly dependent on U.S. intellectual property, software, and components. If the United States were to restrict access to American patents, technologies, and expertise critical to ASML’s operations, the company would have no choice but to relocate its headquarters and production facilities outside the EU—likely to the United States—within months.
This is not hypothetical: ASML has openly debated relocating for years, citing the EU’s stifling regulations, energy instability, and hostility toward cutting-edge industries. By wielding our technological dominance decisively, we can accelerate this outcome, ensuring that America—not Europe—controls the future of semiconductor manufacturing.
Meanwhile, the rest of the EU’s export economy poses no strategic threat. Luxury cars, designer fashion, and artisanal foods are not vital to American consumers or industries. These sectors survive on brand prestige, not necessity, and they can be replaced by superior U.S.-made alternatives. Tariffs on EU goods would not only protect American jobs but also force Europe to confront its own economic fragility. Unlike China, which dominates global supply chains for critical materials, the EU lacks leverage in industries that matter.
I urge President Trump and Congress to:
1. **Impose maximum tariffs on non-essential EU goods**, prioritizing luxury items and sectors where U.S. competitors already exist.
2. **Leverage ASML’s dependence on U.S. technology** to negotiate its relocation to American soil, securing our semiconductor supply chain.
3. **Block EU access to U.S. patents and R&D** until Europe ends its discriminatory trade practices and aligns with American economic interests.
The EU has long relied on American security guarantees and technological generosity while undermining U.S. industries. It’s time to end this asymmetry. By acting boldly, we can dismantle Europe’s illusion of economic independence, reclaim high-value manufacturing, and ensure American workers long term job security.
What you write seems inconsequent. If Europe doesn’t produce anything usa can’t live without, then can it not be “undermining us” industries. If Europe was undermining us industries wouldn’t the us, as you say, be so dominant in patents, tech and get more foreign investment than anywhere else.
One of you positions must be wrong.
However, if you say that European companies compete with companies elsewhere, then is that an intended consequence of capitalism and the market. Are you against that competition and thus also capitalism?
If what you’re writing “isn’t meant like that”, but that you are frustrated about the state of the economy in the us, then is it something I agree on.
The private economy in the us is very challenging, although, keep in mind that Americans, in average, got more economic freedom if you look at the numbers. Is it still complicated for Americans? Yes. Let me refer to UK as an example. When UK was in the EU, we’re at least 7 of the 10 poorest regions in EU within UK. That is despite UK’s dominance within EU in multiple fields and particularly in finance. So how can that be? Clearly, in the case of UK, is it a consequence of a mix of political poor judgement and carelessness by the tories. The British also thought that the foreigners exploited Britain even if it was the EU that saved the UK economy back when UK joined EU.
Only way to avoid that would be to dismantle the shared market (kind of like Russia has done) and by what the current ruling party in usa says that it is intending to do, but if that happens is it no longer capitalism, nor a free market.
Out of curiosity, why do you think that so many are struggling in usa despite Americans having more money than nearly any other nationals?
Glenn - I know I speak for myself but perhaps others agree I appreciate your work - but it would be helpful if you could take a few minutes and perhaps do a short summary of what you learned or took in from the conversation or what you thought the pertinent points were that your guest made : or some basic explanation in a short column ?
Eg: just off the top of my head - my understanding ---
---->>>>>> The Proven Failure of the The US Economic Plan
The US plan was
A. manufacturing itself, the dirty work, is done overseas, the tough / boring / monotonous often manual labor, the environmental harmful part - that's where a smaller amount of the monies are made. let foreign countries do the dirty work
B. The string of monies, the larger monies are then made by US at each subsequent stagee: distributors, national shipping, storage, warehousing, sales, stores selling, accountants, bookeepers, truck drivers, loading unloading, mega stores, employees, mark ups, commissions, tax at each stage, until the customer finally buys the widget
---- However, These foreign countries started with the dirty work, and grew, and grew and technology grew - and they took more and more manufacturing and more and more skilled labor was needed and then took entire industries
US can no longer manufacture a widget, tank, a weapon, a plane, a pharmaceutical , US can no longer rely on itself to protect itself - IF the US wants to manufacture a pharmaceutical it costs 5 x - 6 x the price of India - IF US wants to manufacture a weapon it costs 5 x - 6 x the price of Russia AND Worse takes 10 times Longer to Manufacture.
--- So now the US - especially with Russia/Ukraine and Yemen - has been proven to be in a big deep hole - and the US is in panic mode - previously they could tell themselves different stories --- Now the US is slapped in the face they know Russia is stronger they know China is stronger they know they cannot compete - they must fully rely on others --- Panic
Reading Diesen's book 'Great Power Politics in the Fourth Industrial Revolution' and wondering why he is not talking more about it. As a paid subscriber, I continue to grow more disappointed with the chopped up podcasts, repetitive themes and interviews of other podcasters. Please, play on your strengths professor.
To Professor Diesen. This was a phenomenal analysis, a real tour de force. I have been following your podcasts with a range of pre-eminent thinkers and analysts. I have long enjoyed your shows with Alexander Mercouris and John Mearsheimer. This discussion with Alex Krainer is by far the best I have seen. Stark. Dispassionate. Measured. Deeply contemplated. Philosophical. Evidence-based. Logical. Painting the really big picture, not becoming mired in the myopic parochial world-view of the West. Thank you.
Glenn, the picture drawn by Alex Krainer that implies that Trump is working for peace all over the world needs to be challenged. I guess a suggestion to interview a critical voice from the left, Ben Norton, would not be considered to fit well in the conservative profile of your channel? In any case you could listen to Ben's arguments on Trump and peace here: https://youtu.be/d2Yqc-8uVHc
Sorry, you missed the trashing US government part and ballooning the debt. From my representative’s weekly update today:
“As a member of the House Budget Committee, I’ve seen firsthand how badly Washington needs a course correction. Our national debt now stands at $36 trillion. We’re spending more to service that debt than we are on national defense. Families are paying more for everything — groceries, gas, utilities — and wondering if anyone in Washington is listening. That’s why Americans voted overwhelmingly for change, and this bill [does not - only more to the rich at cost to the poor] delivers that change.
. . . . Nationwide, this bill is expected to help save or create up to six million jobs. It delivers expanded tax relief [to the wealthiest permanently extended tax breaks, reportedly limited worker relief] to workers and parents, makes good on President Trump’s promise of no taxes on tips, overtime pay, and auto loan interest, and strengthens key deductions for manufacturing, investment, and small business growth. We’re building an economy that rewards work. [nothing like it rewards wealth]
. . . . But this isn’t just about tax policy. Restoring American energy dominance is one of the most impactful steps we can take to lower costs for families and strengthen our national security. This bill restarts oil and gas leasing, cuts red tape [like environmental regulations], and reclaims our place as a global energy leader. By producing energy here at home, we can reduce reliance on adversaries like China and Russia, . . . . and create thousands of good-paying jobs across rural America. . . .
We’re also investing nearly $144 billion to modernize our military and strengthen national defense. We’re securing the border with the largest investment in enforcement infrastructure in our history, including funding to finish the wall, hire thousands of new agents, and remove dangerous individuals who entered our country illegally. And we’re unlocking American energy production to lower costs and restore energy independence.
Some critics are already trying to mislead the public, especially when it comes to Medicaid. . . . this bill does not intend to cut care for those who need it; it aims to end fraud and abuse. [there’s minimal fraud/abuse] Since 2019, Medicaid costs have skyrocketed by 51 percent as states use federal dollars for rent, utilities, and even transportation—things Medicaid was never intended to cover. In places like California, illegal immigrants are getting free taxpayer-funded health care while vulnerable Americans are left waiting. That’s unacceptable. This bill restores Medicaid to its core mission: helping low-income mothers, seniors, children, and people with disabilities.
We also put an end to hundreds of billions in Biden-era tax giveaways to special interests and corporations. We’re eliminating wasteful green energy slush funds, rolling back unfair perks for elite universities and billionaire team owners, and returning that money to the American people.
This legislation reflects months of hard work and a serious commitment to getting our country back on track. It addresses the concerns I hear every day from families, workers, and small business owners”
Serious commitment really? To whom? For what? See for yourself: https://www.whitehouse.gov/wp-content/uploads/2025/05/Fiscal-Year-2026-Discretionary-Budget-Request.pdf
The European Union produces virtually nothing that the United States cannot live without. With the exception of ASML—the Dutch-based manufacturer of advanced semiconductor lithography machines—EU exports are overwhelmingly non-essential luxuries, niche goods, or products that American industries can readily replicate. Even ASML, often touted as Europe’s “crown jewel,” is utterly dependent on U.S. intellectual property, software, and components. If the United States were to restrict access to American patents, technologies, and expertise critical to ASML’s operations, the company would have no choice but to relocate its headquarters and production facilities outside the EU—likely to the United States—within months.
This is not hypothetical: ASML has openly debated relocating for years, citing the EU’s stifling regulations, energy instability, and hostility toward cutting-edge industries. By wielding our technological dominance decisively, we can accelerate this outcome, ensuring that America—not Europe—controls the future of semiconductor manufacturing.
Meanwhile, the rest of the EU’s export economy poses no strategic threat. Luxury cars, designer fashion, and artisanal foods are not vital to American consumers or industries. These sectors survive on brand prestige, not necessity, and they can be replaced by superior U.S.-made alternatives. Tariffs on EU goods would not only protect American jobs but also force Europe to confront its own economic fragility. Unlike China, which dominates global supply chains for critical materials, the EU lacks leverage in industries that matter.
I urge President Trump and Congress to:
1. **Impose maximum tariffs on non-essential EU goods**, prioritizing luxury items and sectors where U.S. competitors already exist.
2. **Leverage ASML’s dependence on U.S. technology** to negotiate its relocation to American soil, securing our semiconductor supply chain.
3. **Block EU access to U.S. patents and R&D** until Europe ends its discriminatory trade practices and aligns with American economic interests.
The EU has long relied on American security guarantees and technological generosity while undermining U.S. industries. It’s time to end this asymmetry. By acting boldly, we can dismantle Europe’s illusion of economic independence, reclaim high-value manufacturing, and ensure American workers long term job security.
What you write seems inconsequent. If Europe doesn’t produce anything usa can’t live without, then can it not be “undermining us” industries. If Europe was undermining us industries wouldn’t the us, as you say, be so dominant in patents, tech and get more foreign investment than anywhere else.
One of you positions must be wrong.
However, if you say that European companies compete with companies elsewhere, then is that an intended consequence of capitalism and the market. Are you against that competition and thus also capitalism?
If what you’re writing “isn’t meant like that”, but that you are frustrated about the state of the economy in the us, then is it something I agree on.
The private economy in the us is very challenging, although, keep in mind that Americans, in average, got more economic freedom if you look at the numbers. Is it still complicated for Americans? Yes. Let me refer to UK as an example. When UK was in the EU, we’re at least 7 of the 10 poorest regions in EU within UK. That is despite UK’s dominance within EU in multiple fields and particularly in finance. So how can that be? Clearly, in the case of UK, is it a consequence of a mix of political poor judgement and carelessness by the tories. The British also thought that the foreigners exploited Britain even if it was the EU that saved the UK economy back when UK joined EU.
Only way to avoid that would be to dismantle the shared market (kind of like Russia has done) and by what the current ruling party in usa says that it is intending to do, but if that happens is it no longer capitalism, nor a free market.
Out of curiosity, why do you think that so many are struggling in usa despite Americans having more money than nearly any other nationals?
.
.
Russia Lifted The Veil [ SMO Ukraine ]
Yemen Took Off The Dress [ Red Sea ]
These two battles alone - have proven US Can NOT
1. manufacture weapons at anywhere near the cost nor the speed
2. cannot protect Overseas - project across an ocean
3. lacks natural resources to do 1 & 2 above
and the result:
US is in a dire panic fiscally and militarily - It is a tremendous wake up call
.
. Panic
USS Harry S. Truman Transits Strait of Gibraltar, Sailing West
Truman lost three F/A-18 Super Hornets during this deployment and collided with a merchant ship near near Port Said, Egypt, in February.
ONE of the US Military Jet was Shot Down by the Accompany US Vessel Gettysburg in confusion and error - Another suffered a near miss -
Disaster any way you slice it - and accomplished nothing
https://news.usni.org/2025/05/23/uss-harry-s-truman-transits-strait-of-gibraltar-sailing-west
Glenn - I know I speak for myself but perhaps others agree I appreciate your work - but it would be helpful if you could take a few minutes and perhaps do a short summary of what you learned or took in from the conversation or what you thought the pertinent points were that your guest made : or some basic explanation in a short column ?
Eg: just off the top of my head - my understanding ---
---->>>>>> The Proven Failure of the The US Economic Plan
The US plan was
A. manufacturing itself, the dirty work, is done overseas, the tough / boring / monotonous often manual labor, the environmental harmful part - that's where a smaller amount of the monies are made. let foreign countries do the dirty work
B. The string of monies, the larger monies are then made by US at each subsequent stagee: distributors, national shipping, storage, warehousing, sales, stores selling, accountants, bookeepers, truck drivers, loading unloading, mega stores, employees, mark ups, commissions, tax at each stage, until the customer finally buys the widget
---- However, These foreign countries started with the dirty work, and grew, and grew and technology grew - and they took more and more manufacturing and more and more skilled labor was needed and then took entire industries
US can no longer manufacture a widget, tank, a weapon, a plane, a pharmaceutical , US can no longer rely on itself to protect itself - IF the US wants to manufacture a pharmaceutical it costs 5 x - 6 x the price of India - IF US wants to manufacture a weapon it costs 5 x - 6 x the price of Russia AND Worse takes 10 times Longer to Manufacture.
--- So now the US - especially with Russia/Ukraine and Yemen - has been proven to be in a big deep hole - and the US is in panic mode - previously they could tell themselves different stories --- Now the US is slapped in the face they know Russia is stronger they know China is stronger they know they cannot compete - they must fully rely on others --- Panic
Reading Diesen's book 'Great Power Politics in the Fourth Industrial Revolution' and wondering why he is not talking more about it. As a paid subscriber, I continue to grow more disappointed with the chopped up podcasts, repetitive themes and interviews of other podcasters. Please, play on your strengths professor.
To Professor Diesen. This was a phenomenal analysis, a real tour de force. I have been following your podcasts with a range of pre-eminent thinkers and analysts. I have long enjoyed your shows with Alexander Mercouris and John Mearsheimer. This discussion with Alex Krainer is by far the best I have seen. Stark. Dispassionate. Measured. Deeply contemplated. Philosophical. Evidence-based. Logical. Painting the really big picture, not becoming mired in the myopic parochial world-view of the West. Thank you.
USA seem to think they can avoid their inevitable downfall as if their hegemony hasnt changed.
Glenn, the picture drawn by Alex Krainer that implies that Trump is working for peace all over the world needs to be challenged. I guess a suggestion to interview a critical voice from the left, Ben Norton, would not be considered to fit well in the conservative profile of your channel? In any case you could listen to Ben's arguments on Trump and peace here: https://youtu.be/d2Yqc-8uVHc
Glenn, do you mean deindustrialised 🤔 “The former economic model has exhausted itself as the US has industrialised…..”