Trump: I know, let’s make the world suffer because of my surface (mis)-understanding of economics. The man only knows he can stiff employees by declaring bankruptcy … so why not everyone else?
In the end Trump acknowledged that there was no rational decision-making process. He admits he relied on his gut to make the call. Fortunately for MAGA, his gut is in plentiful supply.
Trump acts like a gangland thug — loudly making threats, backing off, trying to nudge the world into his sad protection racket. Who can ever believe him? Who can ever trust? From world leaders to slapstick chumps.
The only certainty of the Trump administration is that he will get richer.
He has valuable inside information, power to move markets with his words, no effective ethical, legal, or political constraints on his business activities, control of the regulatory and oversight bureaucracy, the means to launder and offshore money through cryptocurrency, authority to award huge contracts, and a bottomless supply of fantastically wealthy governments, corporations, and individuals at home and abroad who are desperate to influence him. Yes, he will come out richer.
Enjoyable read, thank you. I have just one quibble/question: Do you actually think this administration has any kind of trade POLICY, mercurial or otherwise? I think Brownian motion of molecules in air is more predictable.
Trump's firestorm of lies has produced an unwitting populace which is unable to discern truth from fiction. That is Trump's intent. Some segments of the voting citizenry are no longer unwitting, but have become witless and will go to their graves proclaiming that Trump is an honorable and just man who is devoted to improving their lives. Those folks are willing to "Pay the Price" and endure "just a little discomfort" to see their precious toddler take over their finances and in a temper tantrum destroy their financial futures. The stock market has become the toddler's favorite toy. It is his yo-yo. Up and down, up and down. He throws it down and then jerks the string, and lo and behold, the yo-yo comes back up. That's the economic power Trump now wields. It will affect us in the United States and people around the world. Domestic politics is a shambles. International relations are rupturing due to Trump's tantrums. Allies are re-considering their mutually beneficial economic, military and security relations with the United States. Trump is attempting to invigorate our enemies. Take his proposal to have Russia re-admitted to the G7. George H. Wl invited Russia to join and change the G7 into the G8 in order to welcome Russia into a capitalistic and democratic world in which trade would abound. Putin has proven to be an unreliable and authoritarian despot who somehow has control over the President of the United States. George H.W. must be rolling over in his grave. That political gesture didn't work out so well. Within the realm of domestic politics there is the final piece of the puzzle that all authoritarians seek and must destroy. The Rule of Law. The Congress is invertebrate. And is his. Big Law is cowed and supplicant. The Judiciary at the regional level is still standing but the biggest legal influence, the Supreme Court, seems to be in Trump's pocket. Trump owns the Department of Justice. He rules the FBI. He is emperor of the CIA and all security agencies. He has purged the US Military of anything resembling an honorable and ethical leader. It is his army and it is the most potent military force in the world. He has installed a craven sycophant as the head of the US Treasury. He owns the money. The senior leadership of the IRS has all quit within the last 24 hours. He owns the taxation system. So what is left? The populace, those voters who put Trump in office are confused by all of this chaos but are will to give him more time to work his will? Not a comforting prospect. It turns out that the only brake on this whole process right now is the bond market. Bond values went the wrong way. People were selling off US Bonds and the price fell as a result of the abandonment of the US Bond market. Why? Well, if the US is no longer a reliable partner, why would I want to hold US bonds? Would I get my money back after purchasing US bonds? Well, maybe not. I better sell. Who was selling? US citizens? Europeans? The Chinese? It doesn't matter because it did give Donald Trump pause and did make him reconsider the insanity in which he is engaged. No matter what course he takes 90 days from now, the US, its citizens and its economy have a much bleaker future than any of us did before the last election. Action is required to ensure my grandchildren's future and yours.
Thank you...this article answers my question on Globalisation. America was 'Never Ripped Off' as Trump continually claims. He is so blatantly ignorant...[educationally deficient]...knows nothing about Economics, Leadership or Diplomacy...he really is a poor Apprentice...as he knows not how to learn...yet insists profusely that he's an expert.
How could the MAGA Electorate or the rest of the World ever trust a man that does not honour his word...when the words that spew out are pathologic lies...and cruel in the same breath.
How on earth does Trump expect Investment to come to America...for Corporations to commit to outlay Billions of Dollars to build their factories in a place of such uncertainty...a place that has no free speech. What Corporation wants their workers to work in a Totalitarian State...what Market do they plan to sell their products...once they've built the factory? There is no Comprehensive Strategy...offered by this Administration...the Train will never leave the Station as there is no prescribed route!
Beyond tariffs, there are eight other states of affairs that might contribute to an imbalance of trade, singly or in concert. Trump apparently is unaware of this.
"Trump invoked the International Emergency Economic Powers Act (EEPA), declaring a “national economic emergency.” Therein lies the impetus to Trump's autocratic, arrogant tariff fiasco that singularly, with no guardrails, permits him to unilaterally disembowel our fragile economic balance. When you have a neutered Congress, there are no ramparts available to defend against such dictatorial behavior. Why is that? Time to amend the Constitution or eliminate the EEPA. At least require Congressional approval of the economic emergency claim. Geez.
It's hilarious that the same people who swallow a supposed war with tattooed Venezuelans as a justification to suspend habeas corpus howled like crazy when an emergency was declared in the face of a pandemic that killed millions.
So Japan is holding a fire sale on US Treasuries. What happens if China simply says "We ain't buying none of your apparently worthless paper." Donald is well known for stiffing his contractors.
Adam Shiff commented last night about insider trading and stock manipulation by rump associates and family. He claimed he’s looking into it and I sure as hell hope that he is! It classic rump business as usual! Again!
How much did the Trump Clan members make off this Dump & Pump? If significant then he’ll do it again. See, you don’t have to make this complicated, checkers not 4D chess.
A thought: suppose one knew a few days ago that this 90-day pause was going into effect. And suppose one had the funds to purchase stock in companies that had been hardest hit by news of the impending tariffs. So one bought stocks at bargain-basement prices on Monday or yesterday, then today....the stock prices climbed again. Voila! Instant profits! Betcha the Trump family and associates made out today like the bandits they are.
Oddly enough, White House economic advisor Kevin Hassert was quoted on Monday as having said that the 90-day pause was under consideration, and then the White House immediately declared that Hassert had never said such a thing. And yet....that's exactly what happened. Guess ol' Kev's days in the White House are numbered---can't have anybody spilling the beans!
Over the years, Congress has granted the executive branch the power to establish tariffs when there are dimes that must be turned upon. Those dimes had to do with national security, mainly. Now that Trump is willing to call anything an emergency--for example, the war with tattooed Venezuelans--anything is possible.
Excellent piece. If only members of Congress could read.
They don't and they won't. But I like your comment.
Trump: I know, let’s make the world suffer because of my surface (mis)-understanding of economics. The man only knows he can stiff employees by declaring bankruptcy … so why not everyone else?
In the end Trump acknowledged that there was no rational decision-making process. He admits he relied on his gut to make the call. Fortunately for MAGA, his gut is in plentiful supply.
The market bounce back was overdone, since China is still in the crosshairs, bigtime. A lot of Walmart shoppers are in for a shock.
And MAGA merchandise buyers too — aren’t all the caps and mugs and *everything* in the MAGA Store made in China?
There hasn’t been a pause on imports from China — our second largest trade partner. My tariffs are now an insurmountable 150%. My business is toast.
Trump acts like a gangland thug — loudly making threats, backing off, trying to nudge the world into his sad protection racket. Who can ever believe him? Who can ever trust? From world leaders to slapstick chumps.
The only certainty of the Trump administration is that he will get richer.
He has valuable inside information, power to move markets with his words, no effective ethical, legal, or political constraints on his business activities, control of the regulatory and oversight bureaucracy, the means to launder and offshore money through cryptocurrency, authority to award huge contracts, and a bottomless supply of fantastically wealthy governments, corporations, and individuals at home and abroad who are desperate to influence him. Yes, he will come out richer.
Enjoyable read, thank you. I have just one quibble/question: Do you actually think this administration has any kind of trade POLICY, mercurial or otherwise? I think Brownian motion of molecules in air is more predictable.
Brownian motion? I like that concept. Trump's Tariff Tirades are nothing more than Brownian motion.
Trump's firestorm of lies has produced an unwitting populace which is unable to discern truth from fiction. That is Trump's intent. Some segments of the voting citizenry are no longer unwitting, but have become witless and will go to their graves proclaiming that Trump is an honorable and just man who is devoted to improving their lives. Those folks are willing to "Pay the Price" and endure "just a little discomfort" to see their precious toddler take over their finances and in a temper tantrum destroy their financial futures. The stock market has become the toddler's favorite toy. It is his yo-yo. Up and down, up and down. He throws it down and then jerks the string, and lo and behold, the yo-yo comes back up. That's the economic power Trump now wields. It will affect us in the United States and people around the world. Domestic politics is a shambles. International relations are rupturing due to Trump's tantrums. Allies are re-considering their mutually beneficial economic, military and security relations with the United States. Trump is attempting to invigorate our enemies. Take his proposal to have Russia re-admitted to the G7. George H. Wl invited Russia to join and change the G7 into the G8 in order to welcome Russia into a capitalistic and democratic world in which trade would abound. Putin has proven to be an unreliable and authoritarian despot who somehow has control over the President of the United States. George H.W. must be rolling over in his grave. That political gesture didn't work out so well. Within the realm of domestic politics there is the final piece of the puzzle that all authoritarians seek and must destroy. The Rule of Law. The Congress is invertebrate. And is his. Big Law is cowed and supplicant. The Judiciary at the regional level is still standing but the biggest legal influence, the Supreme Court, seems to be in Trump's pocket. Trump owns the Department of Justice. He rules the FBI. He is emperor of the CIA and all security agencies. He has purged the US Military of anything resembling an honorable and ethical leader. It is his army and it is the most potent military force in the world. He has installed a craven sycophant as the head of the US Treasury. He owns the money. The senior leadership of the IRS has all quit within the last 24 hours. He owns the taxation system. So what is left? The populace, those voters who put Trump in office are confused by all of this chaos but are will to give him more time to work his will? Not a comforting prospect. It turns out that the only brake on this whole process right now is the bond market. Bond values went the wrong way. People were selling off US Bonds and the price fell as a result of the abandonment of the US Bond market. Why? Well, if the US is no longer a reliable partner, why would I want to hold US bonds? Would I get my money back after purchasing US bonds? Well, maybe not. I better sell. Who was selling? US citizens? Europeans? The Chinese? It doesn't matter because it did give Donald Trump pause and did make him reconsider the insanity in which he is engaged. No matter what course he takes 90 days from now, the US, its citizens and its economy have a much bleaker future than any of us did before the last election. Action is required to ensure my grandchildren's future and yours.
Thank you...this article answers my question on Globalisation. America was 'Never Ripped Off' as Trump continually claims. He is so blatantly ignorant...[educationally deficient]...knows nothing about Economics, Leadership or Diplomacy...he really is a poor Apprentice...as he knows not how to learn...yet insists profusely that he's an expert.
How could the MAGA Electorate or the rest of the World ever trust a man that does not honour his word...when the words that spew out are pathologic lies...and cruel in the same breath.
How on earth does Trump expect Investment to come to America...for Corporations to commit to outlay Billions of Dollars to build their factories in a place of such uncertainty...a place that has no free speech. What Corporation wants their workers to work in a Totalitarian State...what Market do they plan to sell their products...once they've built the factory? There is no Comprehensive Strategy...offered by this Administration...the Train will never leave the Station as there is no prescribed route!
Beyond tariffs, there are eight other states of affairs that might contribute to an imbalance of trade, singly or in concert. Trump apparently is unaware of this.
"Trump invoked the International Emergency Economic Powers Act (EEPA), declaring a “national economic emergency.” Therein lies the impetus to Trump's autocratic, arrogant tariff fiasco that singularly, with no guardrails, permits him to unilaterally disembowel our fragile economic balance. When you have a neutered Congress, there are no ramparts available to defend against such dictatorial behavior. Why is that? Time to amend the Constitution or eliminate the EEPA. At least require Congressional approval of the economic emergency claim. Geez.
It's hilarious that the same people who swallow a supposed war with tattooed Venezuelans as a justification to suspend habeas corpus howled like crazy when an emergency was declared in the face of a pandemic that killed millions.
So Japan is holding a fire sale on US Treasuries. What happens if China simply says "We ain't buying none of your apparently worthless paper." Donald is well known for stiffing his contractors.
US Treasuries have for decades been the world's safe haven. That's over. I suppose crypto will now be the go-to?
Adam Shiff commented last night about insider trading and stock manipulation by rump associates and family. He claimed he’s looking into it and I sure as hell hope that he is! It classic rump business as usual! Again!
Can't wait for the Dems to control Congress.
How much did the Trump Clan members make off this Dump & Pump? If significant then he’ll do it again. See, you don’t have to make this complicated, checkers not 4D chess.
The chess is N-Dimensional--N is for narcissist.
A thought: suppose one knew a few days ago that this 90-day pause was going into effect. And suppose one had the funds to purchase stock in companies that had been hardest hit by news of the impending tariffs. So one bought stocks at bargain-basement prices on Monday or yesterday, then today....the stock prices climbed again. Voila! Instant profits! Betcha the Trump family and associates made out today like the bandits they are.
Oddly enough, White House economic advisor Kevin Hassert was quoted on Monday as having said that the 90-day pause was under consideration, and then the White House immediately declared that Hassert had never said such a thing. And yet....that's exactly what happened. Guess ol' Kev's days in the White House are numbered---can't have anybody spilling the beans!
Outstanding article. I’m now following her.
Over the years, Congress has granted the executive branch the power to establish tariffs when there are dimes that must be turned upon. Those dimes had to do with national security, mainly. Now that Trump is willing to call anything an emergency--for example, the war with tattooed Venezuelans--anything is possible.