Are We Doing This Again? Andrew Ross Sorkin on “1929” and the GoodFellows on 2025 | GoodFellows | Hoover Institution

Nearly a century ago, after years of investors on a champagne high and warning signs ignored, a stock market crash led to a descent into a global depression. Andrew Ross Sorkin, a New York Times financial journalist and author of the bestseller 1929: Inside the Greatest Crash in Wall Street History—and How It Shattered a Nation, joins GoodFellows regulars Niall Ferguson, John Cochrane, and H.R. McMaster to discuss how the events of 1929 resonate to this day, what’s misunderstood about the fabled crash, whether Herbert Hoover (only seven months into his presidency when disaster struck) gets a fair shake, plus what the future holds for Federal Reserve independence, the bidding war for Warner Bros. Discovery, and Wall Street’s relationship with Washington. After that: The three fellows look back on 2025 with their choices for individual of the year, the most significant or ignored stories, what they learned in 2025, plus predictions and resolutions for the new year. Finally, a surprise visit by Hoover Institution visiting fellow Kris Kringle, who asks the panel for its holiday wishes (oddly enough, H.R. is never around when jolly old St. Nick shows up).      Subscribe to GoodFellows for clarity on today’s biggest social, economic, and geostrategic shifts — only on GoodFellows.

Two institutional sectors are in both steady and rapid decline in terms of public trust: Congress and academia. Ben Sasse, former US senator from Nebraska and president of two universities, joins GoodFellows regulars Niall Ferguson, John Cochrane, and H.R. McMaster to discuss what ails Congress and how to fix it (based on his eight years in the Senate), plus how America’s educational system has set a low bar for readying students for higher learning and life after college. Next the three fellows weigh the merits of the Trump administration’s new National Security Strategy and what strategy there is (or isn’t) regarding Venezuela and drug trafficking; the shortcomings of fuel-efficiency standards; whether they’d buy an American-made “tiny car” (no way, says our resident former tank driver); and, with the World Cup coming to America in 2026, how to clear up the confusion between US-brand “football” and the international “beautiful game” that goes by the same name (Sir Niall’s solution: Change US football to “armored rugby”).    Subscribe to GoodFellows for clarity on today’s biggest social, economic, and geostrategic shifts — only on GoodFellows.

Is the bitter war in Ukraine soon to wind down now that a peace settlement is being negotiated (think a Panmunjom-style compromise, not Munich-style appeasement), and how should America prepare for economic and military parity with China? In an episode devoted solely to viewers’ questions, Hoover senior fellows Sir Niall Ferguson, John Cochrane and H.R. McMaster delve into matters ranging from those somber (allaying twenty-somethings’ climate alarmism, “ideal” interest rates, the future of tank warfare as well as AI’s redesign of future workforces) to those more lighthearted (H.R.’s service nickname, the artist behind John’s wall hangings, and how the fellows would ride out a future pandemic). Finally, on the eve of America’s Thanksgiving holiday, the fellows count their blessings – especially “Papa” Ferguson, who recently joined John (aka, “Blah-Blah” to his grandchildren) and H.R. (likewise, his grandkids’ “Papa”) as a first-time grandfather. Subscribe to GoodFellows for clarity on today’s biggest social, economic, and geostrategic shifts — only on GoodFellows.

  Will future wars be decided by who controls space—cyber and outer—and which superpower has better paired geostrategic thinking with emerging technologies? Anne Neuberger, the Hoover Institution’s William C. Edwards Distinguished Visiting Fellow and a former White House and Pentagon cyber policy advisor, joins GoodFellows regulars Sir Niall Ferguson, John H. Cochrane, and Lt. Gen. H.R. McMaster to discuss what she sees as a “cyber gap” between China and America, the need for the US to rethink traditional weapons platforms (hello, drones), plus how Dwight Eisenhower’s warning of a “military industry complex” is being redefined by the tech sector’s growing role in present-day and future warfare. After that: the three fellows weigh the significance of a utopian socialist recently elected mayor of a very capitalist New York City, a new “algocracy” (algorithms running the government) in Albania, the UK’s fabled BBC in hot water over alleged editorial bias, plus whether the “war of the tomorrow” may be in . . . Venezuela? Subscribe to GoodFellows for clarity on today’s biggest social, economic, and geostrategic shifts — only on GoodFellows.

At a time of “hot wars” across the globe, there’s also an ideological “cold war” featuring two foes: those who embrace freedom and those who oppress it. Michael McFaul, the Hoover Institution’s Peter and Helen Bing Senior Fellow and author of the newly released Autocrats vs. Democrats: China, America, Russia and the New Global Disorder, joins GoodFellows regulars John Cochrane and Lt. Gen. H.R. McMaster to discuss where he departs from the Trump administration on its approach to Russia and China (one autocracy economically dwarfing the other), his suggestions for course change, and why he holds “guarded” optimism for America’s future. After that: John and H.R. go “trick-or-treating”—weighing the pros (“treats”) and cons (“tricks”) of a new White House ballroom, a Chinese military purge, the latest inflation numbers and gold prices that no longer glitter, a CEO’s tariff worries, New York City on a non-hallowed eve of “democratic socialism,” plus a new and tougher American citizenship test (could Sir Niall Ferguson pass it?). Finally, as Halloween approaches, John and H.R. give us their go-to candies. Subscribe to GoodFellows for clarity on today’s biggest social, economic, and geostrategic shifts — only on GoodFellows.

A hostage return and the signing of a cease-fire agreement signal a new chapter in the long-running dream of peace in the Middle East. Did it matter that the key negotiators, on the US side, were financiers and real-estate developers rather than scions of America’s diplomatic corps? Russell Berman, a Hoover Institution senior fellow and codirector of Hoover’s Working Group on the Middle East and the Islamic World, joins GoodFellows regulars Niall Ferguson and John Cochrane to discuss the sturdiness of the Trump White House’s 20-point peace plan, the futures of Hamas and the Abraham Accords, the likelihood of Israeli Prime Minister Benjamin Netanyahu’s reliving Winston Churchill’s fate (a successful wartime leader rejected by a war-weary electorate), plus whether the “real estate-ism” approach to diplomacy is applicable to President Trump’s upcoming meetings with his Russian and Chinese counterparts. After that, Niall and John reflect on the likelihood of a market crash (it is October, after all), the chances of a full-fledged tariff war with China, the merits of a US-Argentina currency swap, plus an ominous warning from the International Monetary Fund regarding global debt. Finally, the fellows salute the legendary economist Thomas Sowell, the subject of a Hoover Institution tribute later this month.   Subscribe to GoodFellows for clarity on today’s biggest social, economic, and geostrategic shifts — only on GoodFellows.

One great power (China) has a relentless thirst to build that comes with a terrible human cost, while its main rival (America) is a more lawyerly and free society that’s prone to stifling ideas both good and bad. On the 76th anniversary of the founding of the People’s Republic of China, Dan Wang, a Hoover Institution research fellow and author of the bestseller Breakneck: China’s Quest to Engineer the Future, joins GoodFellows regulars Niall Ferguson and H.R. McMaster to discuss what the future holds for the two Cold War 2 rivals, plus Wang’s firsthand experiences witnessing China’s engineering boom and enduring its draconian pandemic policies. After that, the fellows weigh in on President Trump’s recent United Nations address and the state of that institution, the likelihood of Trump’s Gaza peace plan coming to fruition, the provision of long-range Tomahawk missiles to Ukraine, plus the merits of a US military strike inside Venezuela to counter narco-terrorism. In the lightning round: why America’s military brass gathered at Quantico; National Guard troops head to Portland, Oregon; Scotland’s frustration with illegal immigration; and the feasibility of the US regaining Afghanistan’s Bagram Air Base.  Subscribe to GoodFellows for clarity on today’s biggest social, economic, and geostrategic shifts — only on GoodFellows.

As a seemingly interminable conflict in Ukraine concludes its 43rd month of ground combat, aerial drone strikes, and stalemate, America’s culture war enters a new phase with the assassination of conservative activist and Turning Point USA founder Charlie Kirk, followed by the suspension of late-night television host Jimmy Kimmel for an on-air comment made in the aftermath of Kirk’s murder. GoodFellows regulars Niall Ferguson, John Cochrane, and H.R. McMaster discuss the current state of affairs in Ukraine (Sir Niall fresh off a visit to Kyiv), Kirk’s murder as a watershed moment in a potential new cycle of political violence, plus whether America has reached a tipping point regarding free speech and government meddling for partisan benefit (our resident “grumpy economist” calling for the elimination of the Federal Communications Commission). Finally, a little sunshine (as in the Sundance Kid): the three fellows offering their favorite Robert Redford movies in honor of the recently deceased (and Scottish?) screen legend.  Subscribe to GoodFellows for clarity on today’s biggest social, economic, and geostrategic shifts — only on GoodFellows.

Is Indian Prime Minister Narendra Modi’s embrace of his Russian and Chinese peers a mere signal of his displeasure with American tariff policy, or the beginning of a deeper geopolitical realignment? Hoover senior fellows Niall Ferguson, John Cochrane, and H.R. McMaster discuss the significance of Modi’s summitry with Vladimir Putin and Xi Jinping. This leads into a broader conversation about Ukraine’s durability (with Niall soon to visit Kyiv), as its conflict with Russia becomes a predominantly drone war. Also discussed: the question of power-wielding in Washington—the American president derided as a modern-day fascist for his use of executive authority; the differences between Trump Derangement Syndrome in the past versus the present; the Federal Reserve’s independence (and sprawl); plus the merits of the federal government taking a 10% equity stake in chip manufacturer Intel. Finally, some bad news for our London fans: While the GoodFellows will be gathering in the UK’s capital city, there are no plans for a rooftop concert à la the Beatles atop their Apple Corps building. Subscribe to GoodFellows for clarity on today’s biggest social, economic, and geostrategic shifts — only on GoodFellows.

What inspires a young boy to dream about a career in the US Army and then, after graduating from West Point, manage to prepare for—and survive—combat? In a “solo” installment of GoodFellows, Lt. Gen. H.R. McMaster, Hoover’s Fouad and Michelle Ajami Senior Fellow, a former national security advisor to the president, and a highly honored combat veteran, discusses his childhood in Philadelphia, the inspiring figures he encountered during his Army years, his roundabout journey to becoming an armor officer, lessons from tank battles in the Middle East, and the importance of faith. He also describes a post-service life in California, where, ironically, an Army man makes sense of world affairs while chillaxing on a paddleboard. Also joining the show: Katie McMaster, who recounts how she and her husband met (it was love at first sight), the challenges of being a military spouse, the day H.R. said goodbye to his head of hair (he shaved his head at her insistence), plus her ongoing campaign to spare her Orange County neighbors from the blare of H.R.’s favorite tunes.  Subscribe to GoodFellows for clarity on today’s biggest social, economic, and geostrategic shifts — only on GoodFellows.