I keep hearing about how these guys have a long-term economic strategy, while they are in fact saying things like this with a straight face. Stop the sane-washing. They are eating the crayons right in front of us. - ThreadSky

robshum.bsky.social • 42 days ago

I keep hearing about how these guys have a long-term economic strategy, while they are in fact saying things like this with a straight face.

Stop the sane-washing. They are eating the crayons right in front of us.

Reposted from Matt Novak

Commerce Secretary Lutnick is on Fox News and just pitched this plan to abolish income taxes below $150k. He wants to abolish the IRS in 2-3 years and establish the External Revenue Service which would handle tariffs and the "Trump Gold Card" to buy a residency visa.

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ofhuman.bsky.social•23 days ago

That assumes the rest of the world just rolls over and does not find a way to cut the US out of its economic strategy. Secondly, the economy works because ppl are drunk on buying s*it. When that addiction craters the economy goes with it.

cherylrofer.bsky.social•42 days ago

Lutnik is really enthusiastic for Trump's tariff plan. Fully drank the Kool-Aid.

cv-danes.com•37 days ago

Hear me out: What if they succeed in demolishing so much of the administrative state that at some point the states kind of just wander away because there's no functional union left? I am not a crank.

merlevans.bsky.social•23 days ago

Libertarians are like the dog who catches the car now.

robshum.bsky.social•40 days ago

Yes, today’s WaPo article is a new low in the economic policy sane-washing.

robshum.bsky.social•39 days ago

“…And bear in mind that we’re only two months into the second Trump presidency. What will things look like a year from now?”

(3/n)

robshum.bsky.social•39 days ago

To digress a little on the point 👇, and understand this media problem better, it may be worth pointing how this specific economics reporter has always bought into what was the left-center, Biden-Tai-Fain argument for industrial policy and protectionism. (4/n)

robshum.bsky.social•39 days ago

Mercantilism is about to meet reality. It will be clarifying for not merely the Trumpist political right. (5/n)

cherylrofer.bsky.social•39 days ago

Ezra Klein interviewed Gillian Tett about this very thing. What I'm hoping to do today is to extract something like a plan from her comments about things various people in the administration seem to believe.

There are multiple actors with multiple agendas, complicating things.

robshum.bsky.social•37 days ago

“Look, I understand that it’s more fun to write an article about the supposed emergence of a new economic philosophy than to write yet another article about how ignorant men are, once again, saying stupid things…” (6/n)

robshum.bsky.social•33 days ago

Their faulty premise is that the status quo international economic system is somehow “ripping off” Americans, & needs to be shattered.

The reality is the opposite: it enabled “American exceptionalism,” where the 🇺🇸 economy consistently outperforms others — & that’s what’s being shattered.
(7/n)

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