Trump's in-credible threats

I realize the second word, below, means little or nothing in this hallucinatory Age of Trump, but here's a dose of it anyway, from former treasury secretary Larry Summers:

"The reality is that … every major [U.S.] trade agreement has reduced other nations’ trade barriers by far more than it altered American trade barriers."

In general, adds Summers — and Trump's demagoguery notwithstanding — "globalization and trade have caused significant disruption to the U.S. economy, but this has had little to do with the trade agreements of the past generation." Plus, "increased imports, especially from China, have inflicted substantial burdens on manufacturing workers … [but] too much conventional analysis goes wrong in attributing this to trade agreements and in failing to recognize offsetting job gains from exports."

I see the markets are way up this morning. That, it would seem, Summers anticipated:

"Threats have to be credible to be effective. In recent weeks, every time the United States has pushed its strategy, markets have had mini-collapses, while every time it has appeared to pull back markets have rallied. How in such a world can it seem credible that the United States will actually follow through on its threats?… Chinese officials … are more bemused than alarmed by what they see as a boomeranging U.S. approach."

Trump supporters believe the world is quaking at their strongman's threats. In reality, the world is laughing at us.

 

Comments

[shsavage]

A market-savvy individual could clean up, with prior knowledge of Trump's trade rants. Just sayin'.

[Peter G]

It kind of reminds me of that old joke about the cuckhold standing at the foot of his own bed having caught his wife and her lover in flagrante. What are you two laughing at he says with his gun pointed at his own temple, you're next?!

[Peter G]

If only those market savvy individuals could get the ear of an extremely unsavvy yet powerful dimwit. Why you could treat the stock market like a giant pinata and front run every up and down you convinced him to make. But you would have to be pretty unprincipled to consider such a thing.

[shsavage]

And your point is?

[shsavage]

My snark font tags got deleted...

[Peter G]

Exactly the same as yours Doc. Exactly the same. My snark clue was my last sentence about principles. I probably should have just said yep.

[shsavage]

I know, Peter. I was agreeing with you, but the snark html font markup I enclosed my comment in got stripped out.

[Max]

The world is not laughing at us because the world is too scared to be laughing at this point.

[Peter G]

No worries. To be honest I would be shocked if the Trump administration were not filled with crooks doing exactly what you suggest. I don't think either the Justice Department or the FBI has sufficient staff to investigate all the crap that is going on. I didn't even know there was a snark font. Live and learn.

[Peter G]

It's kind of a grim, you're fucking kidding me, kind of laugh. Accompanied by the earnest prayerful wish that this nightmare ends soon. We need you back on track.

[ren]

Except for Xi and Vlad. It's their dream come true.

[shsavage]

There isn't. Which just doubles down on the snark when I try to use it as an html tag.

[Peter G]

You know I have to thank PM for his piece on QAnon. There are clearly new worlds to conquer when it comes to conspiracy nuts. Holy crap! I've been working through some of the YouTube pieces and all I can say is wow! Not to worry though. Apparently his Wizardness Trump has everything in hand and the wicked he will smite. So stand by and pray. And don't actually do anything or you might disrupt the Plan. Yea that's the ticket. Pray of course but that's about it.