Global Trade Made America Richer, Not Poorer
Global Trade Made America Richer, Not Poorer As we debated the merits of the Trump tariffs, many argued that global trade and the US deficit—Americans buying from foreigners—have made the US poorer. Many quoted our $35 trillion government debt as evidence of American poverty driven by foreigners, outsourcing, and trading. We think people are confused. […]
From McKinley to MAGA: Tariffs, Markets & Investor Risk
From McKinley to MAGA: What Tariff Politics Teaches Us About Market Narrative Risk Volatility is back—and so are tariffs. In recent weeks, markets have surged, dropped, and surged again in response to breaking news about trade tensions, especially between the U.S. and China. If it feels like we’ve seen this movie before, we have. […]
Tariff D-Day: April 2 Is Almost Here
Tariff Sequel: April 2nd’s D-Day – Will the “Dirty-15” Have a Hollywood Ending? Ten days. Ten days until the economic equivalent of a high-wire act without a net. April 2nd looms, the date the White House has set for its “Reciprocal Trade & Tariffs,” a policy designed, we are told, to open markets, shrink deficits, […]