Sunday reading on the Fools of April in the White House

Wanted to forward a couple of columns to you. The first is from economist Paul Krugman, who says that President Trump's erratic, seemingly random decisions on tariffs have made the large investors lose trust US assets at this point. And that it is indisputable that higher prices are coming due to the President's decisions.

In fact, savvy traders have realized that there’s no coherent economic strategy. There’s an old line about military analysis: “Amateurs talk about tactics, but professionals talk about logistics.” Well, when it comes to taking the pulse of financial markets, amateurs talk about stocks, but professionals talk about bond and currency markets. That’s because bond and currency markets are generally less driven by emotion. There’s no “meme gambling investing” in bond and currency markets. And these markets are both signaling major loss of faith in America.

First, about tariffs: It’s true that for the time being Trump has scaled back some of the tariffs displayed on his big piece of cardboard last week. For example, unless we have another policy swerve, the European Union will now face a 10 percent tariff over the next three months rather than a 20 percent tariff. But the tariff on China, our third-biggest trading partner after Canada and Mexico, has gone from 34 percent to more than 130 percent. And we still have high tariffs on steel, aluminum and so on. In effect, observers who claim that tariffs have gone down are missing the biggest part of the story.

Economists who have actually run the numbers, like those at the Yale Budget Lab, estimate that the April 9 tariff regime will raise consumer prices more than the April 2 regime because of the extraordinarily high tariff rate on Chinese imports. Specifically, the budget lab estimates that the latest version of Trump’s trade war will raise consumer prices by 2.9 percent. This is roughly ten times the probable impact of the infamous Smoot-Hawley tariff of 1930.

Krugman goes on to note that this loss of confidence is the real problem, and is making the pros to treat America as a Banana Republic.

For example, economic theory and history both say that the imposition of tariffs normally leads to a stronger currency unless other countries retaliate. During his confirmation hearing Scott Bessent, the incoming Treasury secretary, argued that a 10 percent tariff would lead to something like a 4 percent rise in the dollar. But not this time. Instead of going up, the dollar has plunged....

The common thread in currency and bond markets is that, thanks to Trump, dollar assets — traditionally the foundation of the global financial system — are no longer perceived as safe.

The combination of interest rates soaring amid a slump and the currency plunging despite rising interest rates isn’t what we normally expect for advanced countries, let alone the owner of the world’s leading reserve currency. It is, however, what we often see in emerging-market economies. That is, investors have started treating the United States like a third-world economy.

That's the nice way of saying "TRUMP IS A F'ING MORON." Drew Magary of Defector put up a screed that reiterates that point, and sums up what I think a lot of us want to say to Trump and the group of kiss-up grifters that surrounds him.

The whole thing is great, and here's how it ends.

None of you people were built for this. You’re all unqualified, overwhelmed, and dumber than a post. And you think that standing behind a mic and going Hurrr durrr every other country has a smaller dick than us because of these policies will make you Patton. Well, President Kidney Failure, telling everyone you’re the greatest leader who ever led doesn’t make it so. Quite the contrary. People voted for you because they were bored. Now you’re gonna bleed them dry, all while small-talking them to death. Don’t you ever get tired of talking? Don’t you run out of saliva? Is there a strategic gland reserve that you and your cronies are skimming from to keep your maws properly lubricated? You pieces of shit are wasting words, and that offends me as a professional wordsmith. I choose my words carefully before writing them down, because that’s what people are supposed to do. They are not meant to be sentient word clouds, crying "FREEDOM!" the second a process server knocks on their door.

But that’s what you morons do, because spouting off is the only thing you know how to do. You’re destroying the English language, a feat that not even Ryan Murphy himself could manage despite his tireless efforts. So, before you’ve successfully rendered both America and basic human communication extinct, allow me to talk for just one moment. I only need eight words, and here they are:

Everyone, everywhere, would be better off without you.

This is what you get when you have a President who tells his aides to "treat each day as a TV episode", with no connection between past events and current developments. And where the "results" have little to do with economic outcomes, and more to do with what gets headlines and keeps the rubes stirred up so they don't ask questions.

But why is it the writers that have to tell this truth? Where are the Dems nationwide saying the simple fact that "THESE IDIOTS DON'T HAVE A CLUE". You really don't need to go further than that, because a strong majority of Americans already agree.