Trump and expertise
Thomas Edsall (gift link):
I asked political and presidential scholars how they think Trump’s mind works. Most pointed to his seemingly exclusive reliance on his own judgment while rejecting expert advice.
“Many presidents have made mistakes, but none have made mistakes so cavalierly as President Trump,” Michael Bailey, a political scientist at Georgetown University, wrote by email in response to my query:
He makes rash, reckless decisions; at best, they are based on bar-stool theories of how the world works, and at worst, they are driven by corrupt motives. Since he “just knows” he is right about how tariffs work, no evidence will sway him.
In the short term, the country has been in many ways resilient, but he is corroding state capacity, democratic norms and the very sense of a unified nation.
The Corpulent Corrupt Cockwomble is an incoherent, inarticulate, incompetent, incontinent, morbidly obese, hebephrenic, sadistic, psychopath.
dave:
I see you are being polite and nice today. Most certainly, you have some type of commentary to back up your claim about Tr__p? 🙂
Some additional information I used previously:
“Our findings are consistent with a slow and gradual pass-through of tariffs to consumer prices. One fact . . .
Domestically produced goods also experienced price increases, primarily in categories directly competing with imports, highlights the broad reach trade policy can have. But overall, the magnitude of price changes thus far remains modest relative to the size of the tariff announcements. Several factors have likely contributed to this measured short-run response.
Some businesses may have been able to delay the pass-through of higher tariffs by using strategies such as front-loading inventories in anticipation of tariffs and substituting towards importing goods from lower-tariffed countries. Heightened uncertainty about the scope and duration of trade measures, together with concerns about consumer backlash, could have discouraged firms from making immediate or full price adjustments. Over time, as trade policy continues to evolve, firms may adjust more significantly. However, the evidence suggests that pass-through will remain gradual, reflecting the complex pricing decisions firms must make in an uncertain environment.”
Everything said there has been a part of my experience with Global Supply Chain.
Are Tariffs Raising U.S. Retail Prices? (UPDATED)