Not a great week for Trump.
The Trump administration is in an absolute tailspin this week after a slew of unforced errors. Over the few days, President Trump has floated the idea of 50-year home mortgages, 15-year car loans, has said we need to welcome 600,000 Chinese students to our university system to prevent it from collapsing, and defended H-1B visas by declaring that there aren't enough bright young Americans to fill the jobs that are necessary to build things like missiles that are critical to national security. Every single policy decision listed above goes completely against what the MAGA base voted for and would move the country in the opposite direction they would like to move in.
As we discussed last week, the core of the problems afflicting young Americans is the affordability crisis. This crisis is being driven by a number of factors. An inability to get a job due to either DEI policies that are prejudiced against young white men, H-1B visa programs that favor cheap foreign labor, and a lack of quality entry-level jobs that are becoming more scarce due to the emergence of AI. It has become abundantly clear that the MAGA base that voted Donald Trump into office for a second time is beginning to believe that the current administration is not properly addressing these core issues and that it has no intention of doing so moving forward. This cohort believes that the administration seems more focused on foreign affairs, appeasing the Israel lobby and making sure the large donors who helped Trump win the election last year get taken care of. If you don't believe me, I highly recommend you all go follow Mark Mitchell from Rasmussen Reports on X and go read some of the DMs from disaffected zoomers that he's been sharing all week. Here's just a sample:
To say the least, the last five days have been nothing short of a narrative disaster for President Trump and his administration. It seems like he and his cabinet are completely disconnected from the zeitgeist right now, which is odd considering that Trump's pulse on the MAGA zeitgeist has historically been rock solid.
Focusing in on the idea to launch 50-year mortgages and 15-year car loans; this is the exact opposite direction one would be moving in if the core of the economic issues that plague young Americans today were actually being taken care of. The goal should be to make housing and cars so affordable that you move to a 20-year mortgage and 5-year auto loans. Having to offer 50-year mortgages and 15-year auto loans is a sign that things have gone terribly awry. "Sign the line here, in half a century you'll own your house outright!" Laughably out of touch.
The 50-year mortgages, which Trump was apparently pitched by Bill Pulte - the head of FHA, are a prime example of misaligned incentives within the administration. Bill Pulte and his family own a large residential home construction company that would benefit financially from this type of debt hitting the market. Furthermore, the banks that are already very much maligned throughout the country would benefit as well. You're essentially incentivizing struggling American citizens to go into generational debt slavery. It is not the way forward.
As we said last week, none of these economic issues will be solved until you fix the money. And on that note, let's not be too doomerish and highlight some good signal: Square's roll out of bitcoin functionalities within their point-of-sale terminals.
Instead of waiting for politicians to solve these core issues, motivated individuals and companies should move to save themselves as quickly as possible. This has never been easier than it is today with the maturation of the bitcoin network and the infrastructure that has been built to support it and the users who leverage it as a savings technology and medium of exchange. It may seem overly simplistic, but this is going to be 1,000 times more effective than trying to get the politicians in DC to cater to your desires. The free market must lead when it comes to solving the root issue of broken money. We are very fortunate that prominent companies like Block are leading by example and equipping the masses (in this case 4,000,000 American business owners) with the tools that can provide them with financial sovereignty.
Conner Brown's six-year journey from corporate law to Senator Lummis's Bitcoin advisor revealed a crucial reality: political engagement isn't optional for Bitcoin's success in America. Despite Trump's dramatic shift from criticizing Bitcoin to declaring it a competitive race America must win, Conner emphasized that "we've shifted from Bitcoin being seen as sort of a nuisance by both parties," but stressed "there's still a lot of education that has to happen." His firsthand experience showed that beyond Senator Lummis's office where copies of "Gradually, Then Suddenly" sat on every desk, most Congressional offices lack deep Bitcoin understanding.
"Even if you don't care about political power, it cares about you and it's best to engage." - Conner Brown
Conner's white pill from his Senate experience: individuals can create disproportionate impact because "the vast majority of people just don't know what they don't know." Self-motivated Bitcoiners with agency can penetrate what seems like an overwhelming government behemoth. The knowledge gap creates opportunity for those willing to step up and educate policymakers, making active political engagement not just worthwhile, but essential for Bitcoin's promise to be fulfilled.
Check out the full podcast here for more on Bitcoin as America's third path, the Strategic Bitcoin Reserve, and Conner's Senate war stories.
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Final thought...
My boys are vibing with Daft Punk these days.
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