On 5/16/2025 5:55 AM, John Clark wrote:
On Fri, May 16, 2025 at 6:52 AM '[email protected]' via Everything
List <[email protected]> wrote:
/> Remember, whether its Kamala or the Donald, a policy must work
in the real world planet earth./
*Like the policy ofincreasing tariffs MORE than the disastrous
Smoot-Hawley TariffAct of 1930 did which turned a garden-variety
recession into the first, and so far the only, global economic
depression? Even after Trump faced reality by backing down and
reducing the tariffs on China from a stunningly imbecilic 145%, it's
still at 30% and he threatens to bring it back to 145% in just 90
days. Smoot-Hawleyonly had a comparatively modest 20% tariff.*
*Which also illustrates the equally damaging collateral effect of
uncertainty. Even if Trump declared the tariffs to be zero tomorrow,
who would dare plan on them being zero day after tomorrow? He thinks
tariffs will cause production to move back to the U.S. Moving
production facilities takes years. The only useful planning horizon is
that in years Trump will be dead.
Brent*
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