Trump the Tariff Man.

in #trump5 years ago

There is much to object to here, as he demonstrates his usual level of economic ignorance. For example, trade is mutually beneficial, not a "raid" on wealth. Providing us with cheap HDTVs while investing the proceeds in our financial markets is hardly a "raid."

But the last sentence fascinates me. He's promising to make "America" rich again, which is not the same thing as making AMERICANS rich again. It's about "our" economic power (whatever that means), and not about actually improving the lives of individuals and households.

Note also that median real household income is at an all-time high, therefore suggesting there's no higher point in the past that "again" references.

Finally, note his continued belief that other countries pay tariffs ("pay for the privilege of doing so"). For the umpteenth time, other countries don't pay tariffs, US consumers do. You don't make people rich by making them pay more for the things they buy.

It's shooting fish in a barrel for economists, but I hope it's helpful with Uncle Fred who keeps passing on those Trump memes.

And I hope that my friends on the left who are rightly concerned with truth and the reality-based community and policies based on science, will become more vocal in their support of free trade and objections to this nationalist nonsense. Supporting free trade puts you on the side of the little guy, both US consumers and foreign producers and workers who will be enriched by having better access to those US consumers. It's time for realignment where cosmopolitan libertarians and progressives who sincerely care about the poor work together for free trade and free migration.

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My sentiments exactly. I wrote this in my post today

Nobody wants to be exposed to the market in case something nutty gets said on Wednesday while markets are closed. And we did get nutty on Tuesday with Donald Trump reminding China that he is a tariff man - so much for a truce.

https://steemit.com/investing/@carrinm/tib-today-i-bought-and-sold-an-investors-journal-332-canadian-marijuana-us-retail-europe

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