It’s hard to say if the president truly knows what he’s doing. But there is a precedent for the US causing short-term chaos and reaping long-term gain, says economist James Meadway
But this is about far more than his long-cherished whims
That sentence irked me too: ‘whims’ are by definition fleeting. The reason Bessant and Miran are putting up tariffs is to weaken the dollar/encourage a less import-dependent economy.
What it ultimately wants is a cheaper dollar to revive US manufacturing and Chinese competition held off, all the while keeping the dollar as the world’s reserve currency.
How is that “disinformation”? That’s exactly what’s written in their plans and they’ve been saying in their speeches.
I have explained elsewhere, look in my profile. In short, it is normalizing Trump’s sharpie-on-the-weather-map idiocy and making it sound like it’s part of a coherent plan that might “work” when it clearly is not. You asked for specific sentences so I quoted some of the examples of when they did that.
Your argument is that Trump read their book and is now faithfully applying what they had in mind? That is clearly after-the-fact sanewashing of a bizarre fever dream of a plan that he had.
I’m not really interested in going back and forth about this. You can have your own opinion on it where Trump is reading up on economic theories and trying to enact rational policies based on them because it’ll bring back American manufacturing, if you want to. I won’t stop you.
Stephen Miran is chair of the Council of Economic Advisers, and Scott Bessent is treasury secretary.
The reason the Americans are starting a trade war is to use their position as debtor and buyer/importer to re-negotiate the world trade deal on more preferential terms.
The Nixon Shock and Volcker Shock set up a world order where they offshored manufacturing and remained in control anyway by monetary means. The ‘Bessant-Miran Shock’ is trying to create a weaker dollar (in other words, less import-focused economy) so that their country gets the benefits of manufacturing as well as of currency control.
The ‘Bessant-Miran Shock’ is trying to create a weaker dollar (in other words, less import-focused economy) so that their country gets the benefits of manufacturing as well as of currency control.
Let’s try an experiment. What was the wording I used when I explained this concept recently? What was my criticism of connecting this particular economic framework to current world events in the real world?
That sentence irked me too: ‘whims’ are by definition fleeting. The reason Bessant and Miran are putting up tariffs is to weaken the dollar/encourage a less import-dependent economy.
How is that “disinformation”? That’s exactly what’s written in their plans and they’ve been saying in their speeches.
I have explained elsewhere, look in my profile. In short, it is normalizing Trump’s sharpie-on-the-weather-map idiocy and making it sound like it’s part of a coherent plan that might “work” when it clearly is not. You asked for specific sentences so I quoted some of the examples of when they did that.
It’s not Donald Trump 's plan. The plan is from Scott Bessant and Stephen Miran.
Your argument is that Trump read their book and is now faithfully applying what they had in mind? That is clearly after-the-fact sanewashing of a bizarre fever dream of a plan that he had.
I’m not really interested in going back and forth about this. You can have your own opinion on it where Trump is reading up on economic theories and trying to enact rational policies based on them because it’ll bring back American manufacturing, if you want to. I won’t stop you.
You keep focusing on one random guy.
Stephen Miran is chair of the Council of Economic Advisers, and Scott Bessent is treasury secretary.
The reason the Americans are starting a trade war is to use their position as debtor and buyer/importer to re-negotiate the world trade deal on more preferential terms.
The Nixon Shock and Volcker Shock set up a world order where they offshored manufacturing and remained in control anyway by monetary means. The ‘Bessant-Miran Shock’ is trying to create a weaker dollar (in other words, less import-focused economy) so that their country gets the benefits of manufacturing as well as of currency control.
Let’s try an experiment. What was the wording I used when I explained this concept recently? What was my criticism of connecting this particular economic framework to current world events in the real world?
Link?
https://ponder.cat/u/PhilipTheBucket
You will have to read down to the second comment to find it. Well, third comment now.
https://ponder.cat/post/2310062/2618268 ?