Eurosclerosis is a global threat, says NEC Director Kevin Hassett

NEGOTIATE ONE BIG, BEAUTIFUL ECONOMIC AND FREE TRADE AGREEMENT WITH EUROPE. I LIKE JAMIE DIMON USING MAGA LINGO. WE'RE TALKING ABOUT MORE ABOUT THIS WITH WHITE HOUSE ECONOMIC COUNCIL DIRECTOR KEVIN HASSETT SAID IN THE LEXICON NOW, I GUESS IN THE OXFORD ENGLISH DICTIONARY, BIG, BEAUTIFUL. BEFORE SOMETHING IS. >> IT'LL NEVER WORK WITH BIG. >> BEAUTIFUL JOE. >> MAYBE THE. >> BIG PART. I'M BEAUTIFUL. I JUST I DON'T WANT TO BE THAT BIG. I'M TRYING TO BE SMALLER. YOU KNOW, HOPE SPRINGS ETERNAL. I LOVE JAMIE. I MEAN, I'VE SEEN THE EUROPEAN MOVIE A FEW TIMES. THE CLIMATE POLICIES, THE ENERGY POLICIES, THE SOCIAL SAFETY NET POLICIES. ARE YOU OPTIMISTIC THAT THAT EUROPE CAN WHAT JAMIE JUST SAID, IF THEY WERE TO DO THESE THINGS, IS THERE ANY WAY THAT I DO SEE SOME, YOU KNOW, SOME PARTS OF EUROPE MOVING THAT WAY, MOVING TO THE RIGHT. BUT BUT THE LEFT IS ALWAYS LURKING. >> YEAH. I MEAN, HE, HE MAKES A VERY GOOD POINT THAT THE U.S. IS A VERY, VERY STRONG ECONOMY RIGHT NOW. WE'RE THE WORLD LEADER IN DEFENSE, THE WORLD LEADER IN ECONOMIC GROWTH. ALL THE CAPITAL SPENDING IN THE WORLD IS COMING TO THE U.S. WE'VE BEEN DEREGULATING. WE LET GO OF MORE THAN 300,000 FEDERAL WORKERS, AND THEY GOT JOBS, TOO, SAVING ABOUT HALF $1 TRILLION A YEAR OFF, OFF THE DEFICIT. AND IN EUROPE, EVERYTHING IS GOING IN THAT OPPOSITE DIRECTION. AND IT'S BEEN DOING IT FOR A LONG TIME. AND ALL THE TOP INNOVATIONS ON EARTH RIGHT NOW ARE, EXCEPT FOR LIKE A COUPLE OF DUTCH COMPANIES ARE IN THE U.S. AND THE EUROSCLEROSIS PROBLEM IS WHAT JAMIE WRITES, AND I THINK QUITE CLEVERLY THAT THAT EUROSCLEROSIS IS A GLOBAL THREAT, BECAUSE AS EUROPE GOES FURTHER AND FURTHER DOWN, YOU KNOW, IT'S GOING TO BE MORE AND MORE OF LIKE AN ATTRACTIVE TARGET FOR BAD GUYS LIKE, LIKE, YOU KNOW, POTENTIALLY RUSSIA GOING AFTER EUROPE AND SO ON. AND SO A STRONG EUROPE IS REALLY ESSENTIAL. I THINK IF YOU'RE GOING TO LOOK OUT 100 YEARS FOR US TO MAKE SURE WE HAVE A STABLE. >> I'M NOT WORRIED ABOUT YOU GOT TO SAVE EUROPE FROM FROM THEMSELVES. >> YEAH. AND NOW THEY'RE GOING TO HAVE CANADA TOO. I MEAN, HOW'S THAT GOING. >> TO HELP? YEAH, EXACTLY. BUT SO HOW IS THEIR GDP LAGGED. WE DON'T EVEN NEED THE NUMBERS BUT IT'S AT LEAST 40% LAG. >> YEAH THAT'S RIGHT, THAT'S RIGHT. BUT BUT ALSO THEY THEY DO ALL THESE THINGS THAT MAKE NO SENSE WHATSOEVER. YOU KNOW, ONE OF THE THINGS THAT WE'VE BEEN WORKING ON QUIETLY AT THE NDC FOR THE LAST NUMBER OF MONTHS IS THE EU CHANGED ALL ITS FISHING REGULATIONS, WHICH MADE IT BASICALLY IMPOSSIBLE FOR U.S. FISHERMEN TO SHIP FISH TO EUROPE. AND SO WE HAD LOBSTERMEN IN MAINE JUST DUMPING LOBSTERS BACK INTO THE OCEAN IN MAINE, BECAUSE ALL THE LOBSTER SHIPMENTS TO EUROPE WERE HELD UP BY THEIR NEW REGULATIONS. AND THEY'RE DOING THAT NOT ONLY TO US, BUT TO THEIR OWN PEOPLE LEFT AND RIGHT. AND I THINK THAT FIXING THAT IS REALLY, REALLY IMPORTANT. >> CAN YOU START A COMPANY IN EUROPE? WHICH COUNTRY? WHICH COUNTRIES CAN YOU EASILY? I HEARD THAT SOMEONE TRIED TO START A COUPLE OF YEARS AGO A BREWERY IN GREECE. THE REGULATIONS INVOLVED WITH TRYING TO DO THINGS. WHAT'S THE GREATEST NEW COMPANY TO COME OUT OF EUROPE IN THE LAST. I MEAN, LOOK AT THE UNITED STATES IN THE LAST FIVE YEARS. >> I CAN'T. >> THINK OF WHAT'S THE GREATEST ONE, THE GREATEST TECH COMPANY, THE GREATEST. I REALLY CAN'T. >> THINK OF IT. BUT BUT THE OTHER THING ABOUT EUROPE, WHICH IS SOMETHING THAT'S UNDERAPPRECIATED, IS THAT THEY HAVE REALLY OUTMODED BANKRUPTCY LAWS. SO IF BECKY AND KEVIN START A COMPANY AND THEN THEY REGULATE US WITHIN AN INCH OF OUR LIVES, AND SO THEN WE'RE GOING OUT OF BUSINESS. WELL, THOSE DEBTS FOLLOW US FOR THE REST OF OUR LIVES. AND SO, SO ONE OF THE BEST THINGS WE HAVE IN AMERICA IS YOU CAN TRY SOMETHING AND IF YOU FAIL, THEN YOU CAN TRY AGAIN, YOU KNOW, AND SO IT'S A REALLY, REALLY IMPORTANT THING TO GET YOUR RIGHT. AND I THINK JAMIE IS EXACTLY CORRECT. BUT I'LL TELL YOU. >> YOU NEED TO DRAG HIM KICKING AND SCREAMING INTO, INTO. >> AND WHAT I WHAT I WOULD SAY IS THAT THE ONLY WAY IT'S GOING TO HAPPEN IS IF THE EU BREAKS UP. AND THEN ONCE AGAIN, YOU KNOW, WHAT'S THE BRILLIANT DESIGN OF OUR FOUNDING FATHERS IS THAT THE STATES COMPETE WITH EACH OTHER. AND SO IF CALIFORNIA GETS A LITTLE BIT WACKY WITH THEIR SIX AND A HALF