It makes any appointee of DJT who does NOT immediately resign in protest, a PART of an "ongoing criminal enterprise", meaning they ALL can be charged & convicted on RICO charges, resulting in massive fines and long prison sentences.
Kara, once again you are wrong.
remember Steve Jobs said, "good artists copy, but great artists steal"? Likewise, I say, "good leaders look at data, but great leaders go by gut".
You've to remember that my first buddy has a huge gut.
Exactly, when I saw the simple math involved in coming up with those numbers, I was stunned but not surprised and no one in his orbit wants to work hard on an analysis.
It's a planned event. "Those trying to understand the tariffs as economic policy are dangerously naive. No, the tariffs are a tool to collapse our democracy. A means to compel loyalty from every business that will need to petition Trump for relief." - Chris Murphy (read his summary below)
Resigned? These fucks have the power to stop this and they cower in the corner grasping their lunch $ so tightly it made their balks shrivel and die. These so called leaders have failed us big time. It’s again up to up to stop this. I want $174,000 if we are successful and I want them out
Is it possible they were looking for effective rate of protection then found it too complex for the level intelligence of their leader and settled for a laughable fake formula?
it's too complex for pretty much any country to impose which is why nobody really attempts it. Per item tariffs and tax rates and import dues and then currency exchanges and all that for every import and export? It's an insane calculation worthy of a nobel in economics.
Yeah, but Larry, this ungrounded in analysis and reason comes from Trump. The stable genius that bankrupted 6 companies. I don't think you are giving him his due.
Economists always say that presidents can’t really affect the economy. Trump said, “Hold my Diet Coke” and here we all are. Way poorer for allowing him back in.
Don't think of it as you agreeing with Larry Summers, think of it as Larry Summers agreeing with you.
I try to think the same thing when Bill Kristol posts something sane, which has been happening a bit more lately; his earlier takes were pure neocon garbage.
Anyone discovered to be qualified in the government is being fired no matter how good they are at kissing ass.
You can fake ass kissing but you can’t fake being good at your job.
If you are looking for responsible, ethical actions from his appointees, you are forgetting who appointed them. He picked them for loyalty, not competency.
I want to understand what Gov’t and judicial roles are in place to immediately halt detrimental actions by the White House, measured by economic or human safety harms. Talking endlessly does nothing. We need action.
Well they just likely let Elmo’s AI do the work-problem with that is not every strain of data is computed for access to AI- that’s btw what I think Elmo/Doge wanted…access to data so his AI could be used-
ok, so overcomplicating the equation was intentional in that most people wouldn’t look into it. Fine. I also wanna say updated variables could be plugged in later ??? buuut if “m” should have represented a tariff calc and not a trade deficit value then what is happening here??
4 is “how much does a price increase affect demand” and 0.25 is “how much do
tariffs affect prices”
Clearly they made up the numbers so they’d multiply to give 1. Also they used Greek letters and waffled on to make it seem complicated so people would turn off and not notice that it’s piffle.
If they were impressed with the equation and believed it was complicated then that’s the worst part of all of this. It shows exactly how stupid they think we all are—or it reveals something about them, I don’t know. That’s why I feel like I MUST be missing something…
Larry Summers assumes of course that Trump's tariff fiasco was done in ignorance. Another possibility is that he is being directed to destroy our economy and governmental institutions by a foreign actor. One particular actor comes to mind.
Putin.
It’s hard to claim ignorance or incompetence when he has 4 years experience at this job already. That’s ignoring the intervening 4 years, and the rest of his life wherein he might have gotten some clue that this was a bad idea.
Add to that having every resource at his disposal.
This isn’t evidence of foreign collusion, but I’m not aiming there.
My point is that Trump is either acting out of a level of incompetence that defies reason, he is mentally compromised, or he is acting out of some other motivation— personal, external, or who knows.
This, it's BRICS and BRICS currency. They need as much gold and oil as possible, and to collapse USD and Euro for the currency to do well and be worth it for the starters of the currency
The tariffs are all a distraction while they try to make him our dictator. Right now in the House, they are deciding if they should give him unchecked powers (NORRA). The courts would no longer be able to block Trump’s illegal actions.
He is going to blackmail the US population financially. Everything else is a pretext. That is how he expects to take over Canada. Try to drag it down with him.
Not just a casino. It was SIX and that shows how he runs his businesses
Atlantic City and New York: Trump Taj Mahal (1991), Trump Plaza Hotel and Casino (1992), Plaza Hotel (1992), Trump Castle Hotel and Casino (1992), Trump Hotels and Casino Resorts (2004), and Trump Entertainment Resorts (2009)
And that’s as a succinct analysis anyone needs to understanding what happens when an immature, petulant man, who may be in early stages of dementia, is in charge.
"The Coming Recession is Self-Inflicted. The looming economic contraction will be unique in post-war America in that it will be the first directly caused by White House policy." - Bloomberg
Didn't W & the GOP walk us off an economic cliff during the Great Recession (2007)? It was caused more by laissez-faire neglect than Trump-like incompetence; but both dollars rightly stop at the Resolute Desk.
"What eventually occurs is: First, homegrown industries start relying on government protection in the form of high tariffs. They stop competing and stop making the innovative management and technological changes they need to succeed in world markets."
If you can imagine even the smallest possibility that DJT is working for Pootin (or is being manipulated, easily), & you know Pootin just wants to see the US/West in flames...then these chaotic moves make more sense.
My favorite rhetorical question these days is, "If they were here to deliberately dismantle our country from the inside, what would they be doing differently?"
Real question: if other countries can't handle the global market downturn. What happens next? They lower their tariffs and trust us to do the same? What keeps Trump from just keeping them high as a "show of power" and causing every other country to suffer?
Other countries won’t suffer as much as the US. There’s 7.7 billion other people they can trade with.
I think you have it the wrong way round, it’ll be the US begging „every other country”.
I have to agree that he’s problematic. Let’s not forget that he was all over the place criticizing Biden’s team which ultimately gifted Trump the healthiest economy in the world.
The big question for me though, is, who dreamt up all this lunacy? It certainly wasn’t Trump -his brain is not capable of it. So who was it? Well it’s certainly someone who is profiting from the stock market collapse.
As Deep Throat said - “Follow the Money”.
Kara, do you know about ‘Project Russia’ - it's aligned with all the destruction Trump and his regime are doing. It's the overall master plan.Trump is deliberately destroying the economy. He is doing this for Putin to create a new world order. https://bit.ly/4jhvi1A
It's absolutely dumbfounding. These people would jump off the Golden Gate Bridge if he told them to. All he has on them is a threat to primary them-so fucking what? They're already hated by their constituents. Does the entire Republican Party simply want to destroy our country? And why?
This pseudo math justification does seem like gibberish. I'd love to see a long video where an actual economist reviews it.
One thing that I thought was interesting is that if this is supposedly calculating the 'scientifically correct' levels then why on top of the existing arbitrary ones?
Most of the Trump administration isn't smart enough to understand how dangerous these tariffs are, but Bessent has no excuse. He should answer for these policies so he has no plausible deniability when we go into a massive recession if not worse.
Vengeance will be ours. And this time the dem legislators are going to burn them. Never piss off nice people and don't mistake that niceness for weakness.
Sadly, the Republican administration, senators, representatives, and his cabinet are banking on making millions from his actions. Tank the market so they can buy stocks for pennies. Decimate generational farms so they can land grab. It's all a plot to make them rich & bankrupt us all.
News flash. The world is preparing to isolate America. It's not you, it's Donald Trump. Impeach him, get rid of him, and then we will welcome you back with open arms.
Everyone in the Trump administration now was selected for one thing. Willingness to do whatever Trump wants and claim whatever it is is an amazing stroke of superior presidenting.
They must do this regardless of how damaging it is to their reputation or how illegal it might be.
No, I'm not a Trump person. As for why Lawrence Summers is a scumbag, this is a guy who said Africa was underpolluted so we should dump our garbage there, he was against greenhouse gas reductions, interfered in S Korea's economy, tried to fuck over California's environmental regulations,
was in favor of letting banks fuck over consumers -- which led in part to the Mortgage Meltdown. He fucking sucks, and it's got nothing to do with Trump. Just because he knows Trump is a fucking moron doesn't make him a good guy.
Oh, he's being factual. You should do some research. Remember the 'Too Big To Fail" thing where the US gov made the banks and lenders whole in the 2008 crisis, instead of homeowners who had trusted the banks with their money?
You CAN be critical of the Democratic Party's bad decisions and bad-faith actors (like Robert Rubin and 'Larry' Summers) without being a Republican or Trump-follower, you know.
"This is to economics what creationism is to biology, astrology is to astronomy, or RFK thought is to vaccine science."
Yes, but Trump and every other dumb MAGAt believe biology, astronomy and vaccine science are "fake news" and that creationism and astrology are real, and that RFK is a scientist.
Yeah, that last sentence hit me like a ton of bricks. I know enough people in daily life who think there's a massive global conspiracy to hide the truth of those three things, so this comparison will make them support tariffs even more.
I love how the tariffs undermine things that Trump wanted in his first term. Like Nike moves manufacturing from China to Vietnam at Trump’s behest, and now Vietnam gets walloped with an outsize tariff.
The administration used Chat GPT for the tariffs. Let that sink in they used Chat GPT to figure the tariffs. No wonder every economist has said this is utter garbage.
I was just about to say, are we not going to talk about ChatGPT making tariff decisions and what a colossal national security breach that is (not to mention obscenely stupid)?
If you think of it all in the traditional lense maybe…
But the goal is destruction of US govt, democracy & culture. Why the would act Vance ever be a positive example. He had many opportunities to take trump out at the heels & never did. Left someone else holding the back when he resigned
This is like a third-grader faced with a complex math problem he has no idea how to figure out, taking a stab at it using the basic arithmetic he does know how to do…and without the worldly knowledge he needs to understand the ramifications of what he is doing or it’s potential results.
How anyone thought Mr “Art of the Deal” reality TV made “successful” businessman would be good for our economy? Trump America is next on his list of bankruptcies 😡
1990's. The Secretary of the Environment of Brazil , Your reasoning is perfectly logical but totally insane.” to Summers after his famously psychotic recommendation to export dangerous, health destroying stuff to LDCs (Less Developed Countries). I sincerely hope you are an unknowing puppet.
Read these books by Dr. Bandy X. Lee: The Dangerous Case of Donald Trump and her follow up book: The More Dangerous Case of Donald Trump. Psychiatrists discuss his severe mental illness. He is unhinged and can’t function in the real world. What Trump is doing is madness. Please tell people!
Maxus Moronus47 had his genius level team of economists create the tariff schedule using highly sophisticated computers and modeling software available called StoneWare...
If an administration denies "due process" and fires inspector generals do they lack the cognizance to even think before they act? Is America safer if all our allies are mad at us and our adversary is pleased as punch?
I hope China's contributing to this marketing campaign. Countries once aligned or trading with the US have an incentive to join the BRICS alliance or any of the many multi-lateral coalitions to replace the US dollar as primary currency.
Putting a tariff on penguins says everything about Trump and his teams competency.
I watched astonished hosts on CNBC as they worked it out, hours after the rest of us knew. Mouths were open.
Trump and his gang are crashing the economy. To all the experts who ask why, I say: 1-he wants to carve out the middle class; we will be a country of very rich and very poor if he gets his way.
2-he wants to move from the US dollar to crypto so he and his family can make more money. Basically a Ponzi scheme. The narcissists running our government are always a mirror into what they are doing.
Also, surely there are more effective and efficient ways to encourage onshore manufacturing that don't involve raising prices around the world. Like maybe a tax incentive here or there?
Their approach to this debunked policy exemplifies their disbelief in science, proven economic theory, history, general academia etc. but instead based on a tantrum driven dementia, ignorant dictator wannabe, backed by the GOP cult as we all run off a cliff
Proving once again that while the GQP can win an election, they are incapable of actually running the government. History doesn't lie. Though Trump does, every chance he gets.
And since Larry was Obama's Treasury Secretary during a time of great economic growth in America, he's certainly in a position to know when someone is totally and completely fucking it up.
You should try it.
„It’s all so unfair!” You’re a RWNJ. Bet you wear a red hat.
Other countries have always been screwed over by the US. Now it’ll be your turn. Unless, of course you’re Russian…
Its only going to hurt you more. You trust a failed, felonious dementia patient. Penguins. 🤣😆🤣
I'm not sure what article you're looking at, the one I shared in my response has charts and data from 2018 - 2025 and shows China's tariffs on US exports is under 25%. If you can provide evidence from a reputable source of 100% tariffs on US products I'd like to see it.
I couldn't find data past 2019. Can you screenshot that?
You made the claim, at least show me what you see as correct?
I do t want to get this wrong, but I also doubt the WH is putting (in the 1st slot) up fraudulent numbers. The last thing they want to an argument over their basic claim.
I mean, it's literally the first thing in the link I posted in my reply to you and you can see most of the chart in the preview, but here's a screenshot of the chart. The chart is interactive and lets you select individual time periods, I recommend going to the link I sent.
This is what happens after he drives all of the adults out of the room. No adults in the room. They’re breaking all the toys and smearing shit on the walls. Great job, Republicans.
After being displaced from my city, I face many challenges far from home and family. As a nurse, I continue to provide healthcare despite the difficulties. I need support and solidarity to overcome this hardship together.
This is the direction that the Republican Party has been going toward for a century. The only question has been, when would the stop. The real answer? Donald Trump.
All 100% correct. The question is why? Just plain Dunning Kruger idiocy or a plan to hold massive companies hostage and sell favours in biggest protection racket in history?
EVEN IF "you believe in protectionist mercantilist economics," 50% of the trade deficit with Heard Island and divide by exports to the United States, that involves a division by zero.
The sense that Summers is looking for is in centered around the pathologically fragile ego of Donald J. Trump who cannot exist if he's not exerting power, even if it's the power to destroy the global economy for a second time.
This is intentional. President Muck, co-president rTrump, Project 2025 creator, Russia and Israel want America to crash and burn, so they can rebuild the utopia of their dreams. They believe, if they can make the masses so desperate, there will be very little resistance during the rebuild!!
I really don’t understand why more people are not shouting from the rooftops and writing entire stories about the way these tariffs were not based on actual tariffs in the target country but on trade deficits—a completely irrelevant figure. Can’t wait to hear @profgalloway.com rip into
this soon. 🤬
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Trump is ignorant.
The tariffs scheme is done on purpose.
Is it Putin or Thiel and Yarvin, or some other conglomerate of the 0.1% ppl we don't even know?
At this point, it doesn't matter.
The goal is to destroy or make as cheap as possible every asset and resource the US has and buy it at..1/2
2/2 rock bottom prices.
We, the people, are nothing to them.
Seniors and disabled don't contribute to the workforce, thus expendable.
Only the strongest kids will be left to survive as future laborers.
This is an engineered social and economic project.
Comments
Next time read the fine print.
remember Steve Jobs said, "good artists copy, but great artists steal"? Likewise, I say, "good leaders look at data, but great leaders go by gut".
You've to remember that my first buddy has a huge gut.
Labelled the Vichy GOP, every last one of them from
Councillor to judge to president
They are all complicit.
They should be shamed every single day to their dying breath.
They just hired selfish, willfully ignorant trash to clog up the sewer line.
And that lump of shit and trash won’t hold forever.
I try to think the same thing when Bill Kristol posts something sane, which has been happening a bit more lately; his earlier takes were pure neocon garbage.
Not my favorite human but an intellectual force of nature.
You can fake ass kissing but you can’t fake being good at your job.
Zero guard-rails
Zero competence
Just a quasi-King wanting fealty
tariffs affect prices”
Clearly they made up the numbers so they’d multiply to give 1. Also they used Greek letters and waffled on to make it seem complicated so people would turn off and not notice that it’s piffle.
Putin.
#ClownCarCoup
#TrumpCoup
#SelfCoup
#RussianCoup
Global f’ing disaster.
Add to that having every resource at his disposal.
My point is that Trump is either acting out of a level of incompetence that defies reason, he is mentally compromised, or he is acting out of some other motivation— personal, external, or who knows.
Trump is the governor for the US province.
Down with the king.
SHARE THIS INFO and 3 things we can do:
Atlantic City and New York: Trump Taj Mahal (1991), Trump Plaza Hotel and Casino (1992), Plaza Hotel (1992), Trump Castle Hotel and Casino (1992), Trump Hotels and Casino Resorts (2004), and Trump Entertainment Resorts (2009)
"What eventually occurs is: First, homegrown industries start relying on government protection in the form of high tariffs. They stop competing and stop making the innovative management and technological changes they need to succeed in world markets."
If you can imagine even the smallest possibility that DJT is working for Pootin (or is being manipulated, easily), & you know Pootin just wants to see the US/West in flames...then these chaotic moves make more sense.
Tariffs, angering allies, gutting government....
I know, I know, it's hard to believe, because we are nice people.
Not murderers, like Trump and other Russians.
I am sure he will try to make a deal which means extorting something from them.
Canada is trading with EU, Japan, South Korea ,Australia, UK
I think you have it the wrong way round, it’ll be the US begging „every other country”.
https://bsky.app/profile/marie-atl.bsky.social/post/3llv7cqmvg22s
As Deep Throat said - “Follow the Money”.
https://bsky.app/profile/daphe.bsky.social/post/3lluujgx2g222
One thing that I thought was interesting is that if this is supposedly calculating the 'scientifically correct' levels then why on top of the existing arbitrary ones?
#ClownCarCoup
#TrumpCoup
#SelfCoup
#RussianCoup
Global f’ing disaster.
Speaker Johnson-are you ready to bring the house bill to the floor to take back YOUR POWER and stop this travesty?
They must do this regardless of how damaging it is to their reputation or how illegal it might be.
He enabled this shitshow for decades by pumping up the culture wars so he and his rich buddies could get their low tax/low reg moist dream.
Might not be the point, but we need to combat ANY semblance of thinking that takes ANY of these criminals seriously in any way.
This.
Elliot Richardson always gave off Clark Kent vibes in speech and handshake. I didn’t hate it.
Yes, but Trump and every other dumb MAGAt believe biology, astronomy and vaccine science are "fake news" and that creationism and astrology are real, and that RFK is a scientist.
Or was it his, you know, texting the whole thing to a reporter, or, someone at the kremlin?
Gmail, yeah, password is encrypted, plain text email.
What about his OOPsec?
What about his gmails?
Lock him up!
But the goal is destruction of US govt, democracy & culture. Why the would act Vance ever be a positive example. He had many opportunities to take trump out at the heels & never did. Left someone else holding the back when he resigned
Astrology ≠ Astronomy
RFK ≠ Medical science
I only miss Vance ≠ diplomacy
NO LIVING BRAIN CELLS WERE USED IN THAT PROCESS
What a train wreck
what is wrong with you ?
Anyone associated with this circus who wants to have a career after this stunt should resign and flee immediately.
;-)
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WHO ELSE?
I watched astonished hosts on CNBC as they worked it out, hours after the rest of us knew. Mouths were open.
This administration is doing nothing wrong. The rediculous gaslighting from democrats is childish and uneducated.
„It’s all so unfair!” You’re a RWNJ. Bet you wear a red hat.
Other countries have always been screwed over by the US. Now it’ll be your turn. Unless, of course you’re Russian…
Its only going to hurt you more. You trust a failed, felonious dementia patient. Penguins. 🤣😆🤣
Y'all will be given something new very soon to moan about.
Where'd you see 20%? China had been taxing US goods at 100% for a long time, 67% seemed like a deal.
You made the claim, at least show me what you see as correct?
I do t want to get this wrong, but I also doubt the WH is putting (in the 1st slot) up fraudulent numbers. The last thing they want to an argument over their basic claim.
[Special shout-out to: "This is to economics what ...RFK thought is to vaccine science."]
this soon. 🤬
☹️
The tariffs scheme is done on purpose.
Is it Putin or Thiel and Yarvin, or some other conglomerate of the 0.1% ppl we don't even know?
At this point, it doesn't matter.
The goal is to destroy or make as cheap as possible every asset and resource the US has and buy it at..1/2
We, the people, are nothing to them.
Seniors and disabled don't contribute to the workforce, thus expendable.
Only the strongest kids will be left to survive as future laborers.
This is an engineered social and economic project.