Donald Trump’s “second first term”—an oddity of winning nonconsecutive presidential elections—begins with talk of dramatic policy shifts at home and abroad.

Hoover senior fellows Niall Ferguson and “Trump 45” veteran H.R. McMaster discuss the odds of a successful second Trump presidency; whether the man himself has changed; the most salient questions to ask Pentagon and State Department secretary-designates; whether Elon Musk’s government reform will be more DOGE or dog; what America’s allies and adversaries are thinking; plus the seriousness of acquiring Greenland or other Trump-speculated land grabs (Canada, the Panama Canal).

After that: the fellows opine on where the Biden presidency went off the rails (are historians to blame?), followed by a look at LA’s devastating wildfires and California’s shifting political landscape (the conflagration straight out of the pages of Niall’s 2021 book Doom: The Politics of Catastrophe), plus what prompted Mark Zuckerberg to abandon Meta’s fact-checking and DEI programs.

Recorded on January 15, 2025.

An eventful election year concludes with the curtain soon to rise on a second Trump presidency and the possibility of dramatic changes to how Washington conducts itself.

Kimberley Strassel, the Wall Street Journal’s “Potomac Watch” columnist, joins Hoover senior fellows Niall Ferguson, John Cochrane, and H.R. McMaster for a temperature check on Trump’s comeback: the odds of his ending lawfare and weeding out recalcitrant bureaucracy while also extending his 2017 tax cuts; plus whether Elon Musk’s DOGE initiative will indeed make the federal government more efficient. Later, the fellows offer their choices of 2024’s winners and losers, and what they got right and wrong this past year, as well as something big to expect in 2025. Finally, Sir Niall reflects on the emotional pull of knighthood, having recently been on the kneeling side of his investiture ceremony at Windsor Castle.

In a special “mailbag” episode, Hoover senior fellows Sir Niall Ferguson, John Cochrane, and H.R. McMaster answer audience questions ranging from current geopolitics quandaries and viable economic models to career and parenting advice, plus their personal choices of dream guests.

Among the topics: a neglected African continent; Russia’s military and economic sustainability and related policy options that the incoming Trump administration will face; parallels between Taiwan and pre–World War I Europe; rating Javier Milei’s performance in Argentina; job options for aspiring PhD candidates; plus the panel’s recommendations for foundational books to instill honor and patriotism in children (spoiler alert: Niall talking Tolkien).

Submit your questions for our next mailbag episode at Hoover.org/AskGoodFellows and see if your question gets selected and answered!