How anything that benefits the government at the expense of regular people is considered a good thing is a mystery, but the Trumpists are trying to make the case about tariffs. From David Haggith at thedailydoom.com:
It looks like this year’s trade detour is about to prove worse than the emergency it promised to save us from.
For six months straight, manufacturing has been receding, according to the Institute for Supply Management. What I find most revealing in today’s ISM report about this period of manufacturing recession are the comments that tell a tale on tariffs that confirms the cost of chaos, itself. That chaos just got a huge jolt over the Labor Day weekend when a US federal court voted 7-4 to declare most of the Trump Tariffs illegal on the basis that his emergency is a “fake emergency.”
To me, the faked emergency was obvious from the start because we’ve had the trade situation that we started all of this new trade war mess off in for decades. Trump may not have liked our trade relations; many people may not have thought we had fair trade; but it certainly wasn’t an emergency since even Trump didn’t solve it during his entire first four years and we were doing better before all of this than we are now.
How much of an “emergency” could it have been if it wasn’t worth completely solving back then? Our trade relations have, however, become much more like an emergency as a result of the trade wars. Trump’s emergency claim was obviously nothing but a hyuge power grab to take the tariff power he covets away from congress. I’m surprised the court was not unanimous in declaring the present situation a non-emergency.
Now we have what has, for the moment anyway, been determined by a large majority decision on the court as months of illegal, extraordinarily costly tariff pressure applied by this president throughout the world(!) slammed into reverse with nations and businesses all over the world, but especially in the US, having to correct back the other way. What an economic disaster due to presidential pride and overreach. The fallout will be with us for years … like the global Covid lockdowns in Trump’s first term, and the benefit to the US will, as Trump’s Treasury Secretary just said, be global disgrace for the US.
One of the most telling comments about the chaos created by Trump’s on-and-off-and-on-and-on-again tariffs was a description of the current business environment as “much worse than the Great Recession.” Some business leaders would rather have to figure out how to navigate all of that disaster again than try to beat a way through the brush and swamps created by different tariffs everywhere going on and off on a daily basis.
Watching Indian news about new tech restrictions and tariffs as Moshe Trumpstein (MIGA) strikes back.
AI will bring the UBI workers utopia, no need to make anything.
Honk, honk.