Last week at the United Nations, President Donald Trump stood before the same institution that laughed at him in 2018. That year, he warned the General Assembly that Germany was making itself dangerously dependent on Russian energy through Nord Stream 2. German officials smirked on camera. European diplomats rolled their eyes. Then, in February 2022, Russia’s tanks rolled into Ukraine, and Germany scrambled for alternatives while energy prices strained European households. I watched last week’s speech after a long day of client meetings with one of my sons. The message was the same as 2018: while others talked, America acted. The difference is, now we have the receipts.
I’m not a foreign policy academic. After more than 30 years of running hedge funds, private equity strategies, and family office mandates, I know the difference between people who identify problems and people who solve them. Trump is good at identifying problems with a verified track record. That combination makes the foreign policy establishment deeply uncomfortable. It also happens to be exactly what a sclerotic international bureaucracy needs to hear.
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