Trumpenomics
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Just more evidence that there was so little to gain with these antics. If one wants to put a coherent frame on it, you'd just have to take seriously the notion of protectionism, higher prices, and more manufacturing jobs. Which is not a better America, but at least it's a comprehensible goal.
In practice, what will probably happen is that these shenanigans will show up in inflation and jobs numbers, Trump will declare victory over a bunch of nothing-burger concessions by countries that never treated America unfairly to begin with, and the fate of the whole exercise will be left up to China, who may or may not decide to rub America's nose in it, at significant cost to both countries in the short term, and maybe a benefit to China in the long term.
@Horace said in Trumpenomics:
… and the fate of the whole exercise will be left up to China, who may or may not decide to rub America's nose in it, at significant cost to both countries in the short term, and maybe a benefit to China in the long term.
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Finally.....
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@Doctor-Phibes That wasn’t even funny though.
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China’s government is projecting confidence that it can outlast the U.S. in a protracted trade war in large part because of the potential damage inflicted by its restrictions on rare earth metals, said Eswar Prasad, a Cornell University economist who has spoken this week with Chinese finance officials.
“That is the choke point,” Prasad said. “Beijing does not feel like it is going to back down and that the U.S. is in no position to dictate terms. A big, big part of that is rare earths, where they feel they have the capacity to do significant harm to American manufacturers.” -
Every time I see Nutlick behind the President it reminds me of a weak 2nd grader hiding behind the fat 3rd grade bully and laughing at all of his playground jokes.
https://www.reddit.com/r/thescoop/comments/1k6ry94/howard_lutnick_all_those_factories_that_youre/
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More Shapiro being shocked at how dumb this all was
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I'm sure nobody knows more about China than Donald Trump, but it kind of feels like he misunderestimated them a bit.
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This guy put it better than I did:
Embarrassing to tweet this. Stocks are up b/c the market punched you in the mouth over and over and over until you realized your bad policy needed to be walked back. You started walking it back and the president admitted he wouldn’t fire the Fed chair so the markets went back up
