Gold Goats & Guns – by Tom Luongo
It’s getting tiresome watching Donald Trump’s bipolar presidency. It seems he can’t let a day go by without making some massive announcement to raise tariffs, threaten sanctions or overthrow a government.
Every 24 hours is another exercise in chasing the Trump Reality Show around. Every lull in the perpetual news cycle has to be seized upon to create more chaos so he can validate his insanity.
Trump has so many plates spinning there’s no way he’s actually thinking anything through. Take the latest fiasco, Chinese trade talks.
One day “Talks are going well,” the next “We’re raising tariffs to 25%.”
That’s where we are today. Because Trump thinks he’s winning the trade war and China won’t give him what he wants so he’ll disrupt global trade until he does.
It doesn’t matter how many times he’s told. Tariffs don’t work. The costs are not paid by the exporter. They are paid by the consumer. Tariffs don’t shift manufacturing of the goods imported onshore, they are supplied by other countries or substituted for lesser goods.
Read the rest here: https://tomluongo.me/2019/05/07/economic-warfare-man-strikes-tariffs/