The Economic Illiteracy Of Tariff Man

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Posted: Dec 06, 2018 9:02 AM
The Economic Illiteracy Of Tariff Man

Both Barack Obama and Hillary Clinton have said really foolish things, but Donald Trump may have set a new record for economic illiteracy with this tweet.

This tweet contains an astounding collection of inaccurate and offensive statements.

Here's my corrective commentary.

I’ll briefly elaborate, starting at the top left and going clockwise.

The bottom line is that Trump is playing with fire. Indeed, what’s happening in financial markets is a very worrisome sign that he’s putting the economy at risk.

To be sure, I don’t think all of the volatility on Wall Street can be blamed on Trump’s protectionist policies and statement (the Federal Reserve should be blamed for creating a fragile market with easy-money policies). But a trade war could be the trigger that leads to the next recession.