tariff

An Unbiased Look At Trump’s Tariffs

Common wisdom has it that tariffs in general are bad for trade. They’re old-fashioned. The word “regressive” is thrown around by people who either aren’t certain what it means or really shouldn’t be.

And, in general, the common wisdom is quite correct: Tariffs, as a rule, are bad for business, which means they’re bad for the economy.

Mind you, most business experts will also be happy to tell you why exceptions ought to be made in order to protect their industry, but decidedly no other. Therein can be found the roots of a dirty little secret that most citizens don’t know about, most political partisans don’t care about, and most major media outlets didn’t bother to find out about.

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Tariffs: Some Perspective

It’s easy to quote a simple internet meme and use it to point to Trump’s tariffs to call him an idiot. Thanks to memes, I now know that his list was generated by internet domain, that it’s a formula based on trade balance, that they’re effectively arbitrary numbers, and that it’s all theater. Thanks to a quick glance at my Robinhood account, I can tell that his tariff talk has wiped out a trillion dollars of other people’s money overnight (and, on paper, $200 of mine).

So, yes, I have cause to be irritated at the man. So do you. Fair enough — so far as it goes.

BUT.

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F&L: Donald Trump and MAGA

One could write volumes about Donald Trump the celebrity, the business mogul, the particularly slimy real estate developer, and so on.  I’m giving that a miss.  As a public person I find him odious and in business I’d resort to extreme measures to avoid him (I haven’t ruled out self-defenestration).  Beyond saying that, it’s entirely immaterial for our purposes.  Our subject is Donald Trump as president: the pros and cons of his tenure, his chance at escaping unscathed from impeachment to run again, and his likelihood of winning in 2020 based on the issues.  That should be enough for one article.

(What:  You didn’t honestly think I would give him a pass just because he’s the Evil One, did you?) (more…)

Why Gas Is Cheap (Hint: It’s Bad News)

Some of my olde– uh… more experienced readers may remember when gasoline first topped one dollar a gallon at the pumps.  If you’re finding it tough to put a date to the event, here’s some hints:  Jimmy Carter was President, there were hostages in Iran (which was about to be at war with Iraq), and America was in the grip of an energy crisis. (more…)