There are 2 economic ideas behind the Trump tariffs. One is obviously very stupid. The other is also very stupid, but less obviously so. (thread) - ThreadSky

davidfrum.bsky.social • 3 days ago

There are 2 economic ideas behind the Trump tariffs. One is obviously very stupid. The other is also very stupid, but less obviously so.

(thread)

Comments

titheading.bsky.social•3 days ago

One step past the tariffs Trump is throwing around it is obvious that there is no big win for America even if they get what they say they want. Lies and the liars that tel them.

johncains1.bsky.social•3 days ago

Howard Lutnick thinks they're both great ideas

seabeegator46.bsky.social•3 days ago

Nutlick

pricecheck.bsky.social•3 days ago

A reminder that Trump legalized crypto with the Federal reserve as well. It might be very difficult to follow the Trump Tariff Trick money trail by this sitting President who goaded investors,based on this new opaque crypto money transfer system that he has initiated.Never a dull moment with Trumpo.

thejacksonite.bsky.social•3 days ago

Will he live up to legacy of a bank killer, or is he just helping Zionist Inc switch to digital central bank currency 🤔

jamesearlweeks.bsky.social•3 days ago

Thank you, Mr. Frum

#NoToTrumpsTariffTantum

robertgcole.bsky.social•3 days ago

my theory is the heritage foundation is letting him play his tariff game as long as he follows through with the rest of project 2025

cmurf.com•3 days ago

Sabotage, not stupidity. Manipulating and profiting from it.

https://bsky.app/profile/unusualwhales.bsky.social/post/3lmgm3ewlwk2r

mrtophat8.bsky.social•3 days ago

JFK: "And so, my fellow Americans: ask not what your country can do for you — ask what you can do for your country."
DJT would say: "And so, my fellow Americans: ask not what your country can do for you — ask what you can do for ME & MY RICH FRIENDS."

kimmurphy100.bsky.social•3 days ago

I think we are beyond ranking stupidity at this point.

nhboxy.bsky.social•3 days ago

Key word stupid

imchuckmiller.bsky.social•3 days ago

Any thoughts on the Joseph Sternberg article in WSJ?
@davidfrum.bsky.social

henryschoenberger.bsky.social•3 days ago

DAVID, NOPE! SELF-EVIDENT FRAUD! MARKET MANIPULATIONS SHOW INSIDER TRADING. LEVERAGE ON CBOE COMBINED WITH INSIDE INFORMATION = HOME RUNS FOR TRUMPS SAVVY CABAL & NIGHTMARE FOR ALL NOT PRIVY TO LATEST TARIFF ASSERTIONS - IN A CONSTANT STATE OF FLUX.
https://ehenryschoenberger.substack.com/p/trumps-cabal-making-hay-from-putins

freddy59.bsky.social•3 days ago

Well...Big Tarriffs....market down! Remove Tarriffs....market up! Financial markets don't like them

davidfrum.bsky.social•3 days ago

The obviously stupid idea is that America should return to the industrial self-sufficiency of 1913 without regard to cost or value. Americans should manufacture their own athletic shoes and door hinges and plastic tubs, and if that requires a 125% protective tariff ... so be it!

ejm0.bsky.social•3 days ago

It was a beautiful letter. No one had ever seen such a beautiful letter before. No one has seen such a beautiful letter since.
https://en.wikipedia.org/wiki/Juche

bedwyr.bsky.social•3 days ago

American Juche!!

sonsofwestwood.bsky.social•3 days ago

Yes, and: investing billions upon billions to make low-tech factories for a few low-wage, low-skill workers to make low-value products that are still 3x as costly as Chinese goods is a terrible use of USA capital.

We should be building advanced factories and hi-tech, hi-value goods instead.

davidfrum.bsky.social•3 days ago

But notice that the actual complaint here is: foreigners are too willing to buy US debt; too eager to commit their money in US equities. What kind of crazy theory regards it as a problem that US debt is too safe, US investments too attractive?

cmurf.com•3 days ago

The more he says crazy shit like this, the more of his minions take on his psychopathology. He's replicating himself into the minds of his followers. They are being trained.

Me me me me me!

econtrarian.bsky.social•3 days ago

China is the second largest single holder of US govt debt. This came about because of large US trade deficits with China. Now, with respective prohibitive tariffs, the US trade deficit with China will shrink significantly. So, a major buyer of US govt deficit has disappeared as US debt will soar.

davidfrum.bsky.social•3 days ago

Yet if it really is a problem that too much foreign capital is flowing into the US, here's a solution: balance the US federal budget so that there is less US debt for foreigners to buy. The capital flows would diminish without waging economic war vs the whole planet.

oldcrankygma.bsky.social•3 days ago

Seems it’s always republicans adding to US federal debt…no?

davidfrum.bsky.social•3 days ago

But the rational approach to capital flows would a) deny GOP donors their enormous tax cut and b) oblige President Trump to do some real work instead of insulting and abusing people. So the seemingly smart concern for capital flows leads to stupid policy: tariffs

mrmucketymuck.bsky.social•3 days ago

Capital flowing into your country hardly seems like a problem.

davidfrum.bsky.social•3 days ago

It's pretty easy to operate a "good enough" national economic policy: don't run big fiscal deficits, don't over-regulate business, don't under-regulate banks, keep the infrastructure up to date, educate the next generation, uphold honest justice, trade freely with the world.

abalaeff.bsky.social•2 days ago

When I read the don't run big fiscal deficit part, I heard the voice of George W. Bush saying "Hello" 😁

tflora.bsky.social•3 days ago

Perfectly said!

sjnnyc.bsky.social•10 hours ago

You sound like you liked Biden.

wilsonfink.bsky.social•1 day ago

And prepare for (and mitigate against) a new climate reality

davidfrum.bsky.social•3 days ago

Trump's administration is failing on almost every count, and Americans will pay the heavy cost soon - and for a long time. END.

peakraider.bsky.social•3 days ago

This common sense will get you nowhere these days

realitycheck.bsky.social•2 days ago

Really good 300-character summary of "good enough" national economic policy that every POTUS of the last 80 years, regardless of political party, would have agreed on, except one.