USVM - Weekly Commentary: Oval Office And The World

2025-03-01 05:00:30 ET

Summary

• A challenge to focus on market analysis after viewing the most disturbing Oval Office spectacle of our lifetimes.
• President Trump and VP Vance just put Zelensky in his place at the White House and the world is stunned by what they just witnessed.
• Major equities indices were down 3.9% in Japan, 1.7% in China, 3.4% in India, 1.9% in Taiwan, 4.6% in South Korea, 3.4% in Brazil, and 2.6% in Mexico.

A challenge to focus on market analysis after viewing the most disturbing Oval Office spectacle of our lifetimes. I was more than ready to disregard another week of disruption and mayhem and focus specifically on increasingly unstable markets. Hopefully, next week. "One of the Grimmest Days in American Diplomacy." "Zelensky Invades Trump's Disinformation Space." "Russia Says Trump Showed 'Restraint' Against 'Scumbag' Zelensky." "Trump's Unprecedented Shouting Match with Zelenskyy Could Rattle the World."

Believe me on this: no interest in stirring up discord. I don't want to be canceled by my paid subscribers (don't have any). Don't want to lose all my followers on social media (don't do social media). Don't want to defy the party line (fiercely independent). Pleased to have readers of my analysis, but refuse to pander. This is year 26 of chronicling, on a weekly basis, an incredible period in human history. Today only intensified a foreboding feeling that decades of extraordinary history are coming to a perilous head.

This was another week that will be studied, discussed, and debated for generations. I'll offer a perspective on what transpired today, not because of any great insight. We live in an age of perilous spin, disinformation, and propaganda. I'm simply compelled to share what seems like an atypically unencumbered perspective. For the record:

French President Emmanuel Macron and UK Prime Minister Keir Starmer did President Zelenskyy no favors. The degree of flattery, fawning and pandering that world leaders accept as necessary to be on good terms with President Trump will be an ongoing issue. Especially over time, many leaders will outright refuse to kowtow while others will want to avoid appearing embarrassingly spineless back home.

It seems too much to expect the wartime President of Ukraine - a nation that has suffered the loss of hundreds of thousands of its citizens, total destruction of scores of cities and villages, unspeakable war crimes, and is now in preparation for incredibly fraught negotiations with Putin - not to demonstrate strength and resolve. I listened to the entire Oval Office event, replaying the final toxic exchange. He didn't kneel. He didn't succumb to current heads of state protocol of phony charm and flattery. But it is dangerously unfair to claim that President Zelenskyy was disrespectful to the United States.

Fox News's Sean Hannity: "One thing is perfectly clear, if there was ever any doubt of American strength on the world stage - it is back, it is back big time. President Trump will always stand up for you, the American people. He's going to put America first. We're not going to be disrespected. We will not be swindled. We will not be bullied. Today, the Ukrainian President Zelenskyy, frankly, in many ways disgraced himself. Lost an opportunity of a lifetime to stop the death and destruction of his country, and he did it on the world stage."

There will be abundant White House and Republican spin. Most Americans will probably never see more than short video clips. MAGA is outraged with Zelenskyy. It will be interesting to see how this plays with most Americans. Many will no doubt share my shock. It's as if we're witnessing a national transformation right before our eyes. Pulling Ukraine support would be the ultimate tragic, divisive disruption. Might fraying support from pro-Ukrainian Republicans pose risk to Trump's legislative agenda?

To see an intense discussion about Ukraine security guarantees and the Ukrainians' lack of trust for Putin implode into the President's rant about "stupid President" Biden," "the Russian hoax," and Hunter Biden's bedroom and laptop could not have been more disturbing. Foreign governments - friends and foes - will carefully analyze President Trump's Oval Office behavior....

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