Category: Economics

Econ 101: The industrial revolution

Average income in the world changed little for millennia until the industrial revolution, which began in England around 1760. While world average GDP per person (in 2011 US dollars) was unchanged from $1,200 in the time of Jesus until a thousand years later, it rose to $1,700 by 1800 and roughly doubled to $3,300 by 1900. The most recent figure (end of 2022) is an astounding $16,677 (also in 2011 dollars).  What happened?

As governments became able to protect individual property rights, thus providing an incentive to develop and adopt tools that increased each worker’s output, investments in such innovations began to grow. Deirdre McCloskey argues that the broader acceptance of the ideas of liberty and dignity for ordinary people was also critical. But from the beginning of the creation of tools that enhance an individual’s output, there was pushback.

“William Lee (1563–1614) was an English inventor and alleged clergyman who invented the stocking frame knitting machine. Framework knitting, as the use of Lee’s machine in stocking production was called, was the first major stage in the mechanization of the textile industry, a process that 200 years later precipitated the Industrial Revolution.” https://en.wikipedia.org/wiki/William_Lee_(inventor)

But twice Lee was denied a patent on his invention by Queen Elizabeth I. She stated that she had “too much love for my poor people” who earned their bread by hand knitting to grant a monopoly that would ruin their employment. James I also refused him after Elizabeth’s death, so Lee moved with his workers and machines to France under the patronage of Henry IV, who did grant him privileges. Henry’s assassination in 1610 destroyed his support, and Lee died in Paris in poverty around 1614.

New technologies that increase the output of individual workers obviously mean that fewer workers are needed to produce the same output. But what are the implications of that? The same number of workers can now produce more of what they were producing, increasing overall output, or (some of them) will be freed up to produce other (perhaps new) things. One way or the other such improvements in productivity will increase overall wealth.

New technologies thus require some adjustments. Some workers are likely to need to retrain for new tasks. In addition, the most productive uses of new tools will need to be determined. Consider the hammer. Hitting someone on the head is bad but hitting a nail is good. These challenges have been faced over and over with each new technology and our incomes have grown as a result.

The latest technology is AI. The challenges posed are significantly larger. The potential benefits and risks are significantly larger. But the story is basically the same. The workers freed from their existing tasks must move on to new ones and we must learn how best to protect against the risks posed. Identifying what is real and what is AI/fake will be an important challenge. But we will again rise to the challenges and become still richer.

Econ 101: Profits

Is it a bad thing for oil company profits to increase when oil prices jump?

A country’s economic wellbeing—its national income and standard of living—is maximized when its economic resources (capital and labor) are allocated to their most profitable uses. When that is the case, no other use of capital and labor can increase the value of total output. This includes goods produced for export in order to pay for goods and services imported.

An economy that has maximized its output in this way (allocated all its resources to their most productive uses), will suffer a drop in income if a tax causes a change in this resource allocation. As an example, consider a tax (called a tariff) on the importation of certain medicines now produced abroad. In fact, President Trump is threatening a 100% tariff on imported generic drugs, with the rate rising to 200% later, if manufacturers do not move production to the U.S. Hopefully it is obvious that if the existing allocation of resources between products and whether they are produced here or there is optimal (maximizing output), then shifting the production of the drugs now produced in India (for example) to the U.S. will result in a fall in our aggregate income. The resources devoted to producing what ever we exported (to pay for our drug imports) would have to be shifted to domestic production of the drugs now imported. We will lose the comparative advantage of the existing allocation. The reallocation will reduce overall output. In short, if the allocation was optimal to begin with, the tariff and reallocation will reduce aggregate income. It is a bad idea.

But what about the jump in oil company profits because of the Iran war induced increase in the price of oil?  When resources are optimally allocated, risk-adjusted profits will be the same everywhere because resources will be moved to where profits are higher (thus lowering them) until they are the same everywhere (risk-adjusted). Oil prices have increased because of the war-related fall in the supply of crude oil. Nothing has changed in the cost of lifting and supplying existing non-war-related supplies of crude. In the real world, of course all kinds of things are changing all the time and it is very desirable for resource allocations to change as well in response. That is precisely what chasing profits does.

The increase in profits from producing the same amount crude in the U.S. from the increase in the world price of oil, creates a profit incentive to allocate more resources to finding and pumping it up. That is very desirable for easing the current supply shortage. An increase in profit is a market incentive to increase the resources devoted to producing something. It would be counterproductive to interfere with that very desirable response.

Foreign Students

The Trump administration finalized a major rule to tighten student visas by ending the “duration of status” policy and imposing a fixed four-year maximum admission cap. https://www.dhs.gov/news/2026/07/16/trump-administration-issues-final-rule-end-foreign-student-visa-abuse   Why? Foreign students benefit the U.S. in a number of ways and we should seek to increase their number.

First: hosting foreign students is an export, it pays foreign money into the U.S. via tuition, room and board and other purchases these students make in the U.S.. The inflow of foreign exchange helps provide us with the means for paying for what we import from abroad. https://wcoats.blog/2025/11/04/trade/

Second: Foreign students gain firsthand experience of life in the U.S., often making lifelong friends. They take this knowledge home improving American relations with other countries. American student benefit from meeting and befriending the foreign students, thus broadening their knowledge of other cultures.

Third: When foreign students decide to remain in the U.S. we benefit from their knowledge and expertise increasing American income and wealth.

According to annual economic impact data calculated by NAFSA: Association of International Educators, foreign students spent and contributed $43.8 billion and supported approximately 378,000 jobs in the U.S. in the 2023–2024 Academic Year. This fell 2% during the next year, which was the first year of the current Trump administration.

We would do much better to deport Stephen Miller.

Tariffs again

“Mr. Trump said that generic-drug manufacturers must move production to America or their products will face a 100% tariff from August 2028. A 200% levy would follow from August 2029.” 

All economists and hopefully you as well understand that your standard of living (income) is higher (much higher) because you can specialize in what you are best at and trade for the rest (exploiting “comparative advantage”). If you had to be totally self-sufficient you would be dirt poor.

Unfortunately, Stephen Miller and Donald Trump don’t understand this or is it just that Trump gets such a kick out of throwing his weight around that he doesn’t care??

Immigrants

Aside from Native Americans (a story we should study more carefully), virtually all Americans at our founding were immigrants. Throughout our history immigrants have contributed enormously to our economic growth and wealth. Even today the United States is home to over 125 foreign-born billionaires, making up a massive segment of the nation’s top wealth brackets. Most of these leaders are self-made, primarily building their fortunes in the technology, finance, and aerospace sectors.

These immigrants did not become billionaires by taking income from the rest of us. They became billionaires by creating products and services that we benefited from. They became rich by raising our (the common man’s) incomes and standards of living.

Immigrants represent a disproportionately high percentage of business owners relative to their share of the total U.S. population even today. According to data from the U.S. Census Bureau’s Annual Business Survey and economic research groups, there are over 6 million business owners in the United States who were born abroad.

Immigrants also occupy a massive share of top leadership positions. A landmark study by the National Foundation for American Policy found that nearly 80% of America’s privately held, billion-dollar companies (“unicorns”) have either an immigrant founder or an immigrant in a top executive role, such as CEO or Chief Technology Officer (CTO). While not all current CEOs are foreign-born, 46% of Fortune 500 companies were founded by immigrants or the children of immigrants. Over 1 in 5 business owners nationwide is an immigrant, and nearly 4 out of 5 highly valued modern tech companies rely on foreign-born leadership at the executive level.

Why is this important and why should we oppose the Trump administration’s efforts to reduce immigration? Immigrants do not choose to come to America to change it. They come generally to join what it offers, which is personally freedom to work hard and prosper. We must never forget that in free markets, transactions benefit both the seller and the buyer—win-win. Attracting innovating and hardworking people from around the world lifts their incomes but also ours. Why would we want to slow or stop that process?

Foreign students studying in American universities and colleges are a temporary form of immigration (as are agricultural guest workers) from which we benefit in several ways. One benefit is making friends. Foreign students learn first-hand what America is about and take that understanding home with them. They are also an important export (i.e., they earn dollars for the schools that teach them), thus reducing our balance of payments deficit. Surely, we should encourage more students to come, but over the last four academic years the number of Chinese students studying here has fallen every year.

There are other benefits. Immigrants also tend to bring bits of their culture with them. This is most obvious for cuisine, the variety of which is a wonderful contribution to the quality of our lives. Along with hamburgers, hot dogs and T-bone steaks, I have first-rate Chinese, Japanese, Italian, French, Lebanese, Mexican, Peruvian and mixed-cuisine restaurants within walking distance.

We need much more legal immigration (those vetted for the appropriateness of their character and skills) while preventing the illegal type. Those who are afraid of immigrants should move somewhere else themselves in my opinion.

The Rights of Sovereign Countries

The 193 sovereign countries in our world determine when and if people and goods of other countries may cross their borders into their territory. The safety and other standards required for their own products (cars, planes, medicine, breakfast food, etc.) are equally required for those imported. For example, US chicken is banned from EU and UK because of American post-slaughter Pathogen Reduction Treatments (PRTs), specifically the use of chlorine or other antimicrobial chemical washes to kill bacteria like Salmonella and Campylobacter, which are not approved of in these countries.

But the extensive cross-border trade and movement of workers and tourists have so enormously benefited the standard of living of almost every person on the globe that countries have generally cooperated to harmonize these standards. Two hundred years ago almost 80% of the world’s population lived in extreme poverty. That figure fell to almost 60% a hundred years ago and almost 10% today. ” Study finds wealthy nations reap huge benefits from immigration”.

This dramatic increase in wealth has been greatly facilitated by establishing international standards for many of these goods and services for which international standard bodies have been created such as the International Organization for Standardization (ISO), International Telecommunication Union (ITU), World Health Organization (WHO), and the World Trade Organization (WTO). The World Bank (WB) and International Monetary Fund (IMF, for which I worked for 26 years) are among a broader group of international institutions promoting global cooperation.

Obviously, a country cannot allow the airplanes of other countries to enter and fly over or land in its territory without agreed standards for flight path reporting and control tower protocols. But what about satellites? They are part of the amazing story of telephone communications overseen by ITU in Geneva, Switzerland. On my cell phone I can connect to any other telephone in the world and have a conversation. It is unbelievable really.

On my first trip to Kabul in January 2002 we had to step outside to use our iridium satellite phones to connect with IMF headquarters in Washington DC (or anyone else for that matter). Landmines were later discovered in the garden we walked around while talking on our iridium phones.

Satellites can be stationary (i.e. move at the same pace the earth rotates so that it remains above the same territory below), or not and can be in a low or high orbit. Rules govern how a satellite should behave when passing over or near other satellites to prevent interference.

Satellites, unlike airplanes, are governed by a framework of international agreements and treaties, most notably the Outer Space Treaty.  Satellites move freely through orbital paths because a nation’s airspace only extends upwards to a certain (though legally undefined) altitude, while satellites operate in “outer space.” A satellite is governed by the laws and regulations of the specific country that launched or registered it. That launching country is completely responsible for authorizing, continuously supervising, and regulating the satellite’s operations. Nonetheless it is expected to abide by ITU regulations and assignment of the use of radio frequencies. ITU manages satellite frequency rights by acting as a global registry and coordination body to prevent signal interference, rather than by directly issuing operating licenses.

The United States is officially withdrawing from 66 international organizations. This includes 31 United Nations entities (such as the UNFCCC, UN Women, and the UN Population Fund) and 35 non-UN organizations (including the IUCN, the Green Climate Fund, and the World Health Organization). In my view, this dismantling of the global system of cooperation is a serious mistake—damaging both the US and the global system. The US has not, however, withdrawn from the ITU. But will the US play by the rules? The unpredictability of the Trump administration has the world wondering and worrying how far American destruction of the global order will go.

Gas Taxes??

The US/Israel attack on Iran and resulting closing of the Straights of Hormuz has reduced the world’s oil supply. As a result, gasoline prices are increasing. Is that good or bad? Should the federal and state government suspend gasoline taxes until normal supply is restored?

When the supply of something is artificially reduced, its price increases to equate the new supply and demand. For gasoline, the impact of the supply shock can be moderated by releasing oil from the reserve the US and most countries maintain for such shocks. Thus the fall in gasoline supply would be kept smaller than it would other wise be. But how long will the supply shock last and how large is the reserve.?

The natural price increase in the face of a supply shock has several helpful effects. Those who need it most can still get it. Some non essential travel is reduced. President Nixon’s wage and price freeze in the early 1970s when confronted with the 1973 Arab oil embargo produced long lines of cars at gas stations that still had some gasoline. Price rationing is better than waiting in long lines

President Trump has proposed temporarily suspending government taxes on gasoline. This is a very bad idea not only because of the Nixon shock effect of non-price rationing but because it will reduce government revenue when its debt and deficits are already dangerously large. In the May 11 Washington Post Mitch Daniels provides an excellent account of that danger. “US national debt disaster looms-ai cant-stop it”   If you click on his link to a Cato Institute article on MMT you will be able to enjoy my article on that subject. “Modern Monetary Theory-critique”

Trump’s Record so far

So far Trump II has made or is making a number of changes that have benefited our economy.  However, his delivery on his key campaign promises is mixed.

Trump promised to “stop the migrant invasion,” and to carry out “the largest deportation operation in American history.” He delivered. Southern border attempted entries that were blocked in 2023 and 2024 of 2,475,670 and 2,135,000, dropped to 237,538 in 2025 and authorized new arrivals dropped from 2.9 to 2.8 million in 2023 and 2024 to less the 2,000 in 2025. Deportations and voluntary exit jumped from over 460,000 and 700,000 in 2023 and 2024 to over 2,500,000 in 2025 of which and estimated 1.9 million were self exits.

However, the behavior of masked ICE agents, including the deaths of over 30 people in ICE custody in 2025 have created a public outcry.  In 2024 and earlier, the majority of ICE arrests focused on those with criminal records. In 2025, the government stated that 70% of ICE arrests involved individuals with criminal charges or convictions. However, independent analyses of 2025 data suggested that only 23% of those targeted in broader sweeps actually had prior criminal convictions, with many of those being for minor traffic or immigration offenses.

Trump also promised to “End inflation and make America affordable again,” and to “Stop outsourcing” and turn the U.S. into a “manufacturing superpower” by bringing factories back to the United States by tightening trade policy. The high CPI inflation rate of 4.1% in 2023 has fallen to 2.9% in 2024 and 2.7% in 2025. Manufacturing value added to US total output was $2.91 trillion in 2024 rising to $2.95 in 2025 all in 2017 dollars.

The US imports more than it exports. The US trade deficit in 2024 of $903.5 billion changed little at $901.5 billion in 2025, but the highly criticized and erratic US tariffs on imports (both threatened and actually imposed) where eventually struct down as illegal by the Supreme Court. They were not approved by Congress and where not justified to correct unfair trade practice by China, the EU and others. Rather they were threatened punishments if the target country did not give in to some other Trump demand. Here is an example of such an attempted abuse of tariffs. https://x.com/spectatorindex/status/2041842665172693207

Trump was right to promise to reduce costly and unproductive regulations and bureaucrat bloat. But his approach with the help of Elon Musk and the DOGE swat teams was misdirected and destructive. https://wcoats.blog/2025/04/27/trumps-chainsaw/

https://wcoats.blog/2025/07/01/econ-101-government-budgets/  Just how bad the Musk DOGE chainsaw was can been seen in the following deposition of one of the totally unqualified kids swinging the chainsaw. He is being questioned by a lawyer for an agency suing DOGE https://www.youtube.com/watch?v=NXXvgZzK0Cc

And then there is the rest. Unlike previous US Presidents, Trump’s style of governing was that of a bully making threats. The result has not been good.

Trump the Egomaniac:  Putting his name on the Kennedy Center was sort of harmless (but distasteful) but then shutting it down all together is much less so and, and as is so often the case with Trump, hard to understand. The United States Institute of Peace is now the Donald J Trump Institute of Peace. Then there are programs he has created in his name: Trump accounts, Trump Gold Card, TrumpRx, Trump National Parks pass, etc. But he hasn’t stopped there, creating the “Trump-class” battleship. Though it violates the tradition of the U.S. Treasurer, currently Brandon Beach, signing our currency notes, Trump will do so in the future. While most of these displays of Trump’s name might be taken as the actions of an immature child, his proposal to issue special one dollar coins with his likeness seems to violate more than just good taste.

Trump the Authoritarian (postliberal)–domestic:  We have gotten used to Trump using his Truth Social or X/twitter accounts to damn and/or label as stupid or evil those who have criticized him, but he has used the power of his office to much more seriously attack his enemies or to force compliance with his policy views.

For example, after firing FBI director James Comey, who oversaw the probe of ties between Russia and Trump’s 2016 Presidential campaign, Trump repeatedly called for investigations of Comey over alleged leaks and handling of memos, and his current Justice Department has pursued renewed inquiries premised on those same grievances. Similarly motivated DOJ indictments or investigations have been made against Trump appointed officials John Bolton, Letitia James, Robert Mueller, Andrew McCabe, John Brennan, and others who played leading roles in Russia‑related or Ukraine‑related investigations.

Beyond criminal investigations, Trump has repeatedly used or threatened non‑criminal tools of the presidency—regulation, funding decisions, security clearances, and administrative enforcement—to punish domestic opponents. He has used threats to cut off federal funds to Democratic‑led “sanctuary cities” or jurisdictions whose leaders criticize him, framing them as “anarchist” or lawless and directing DOJ and other agencies to look for legal hooks to withhold grants.  Reuters and civil‑society trackers describe cases where universities, law firms, and other entities changed diversity or governance policies after threats of lost contracts, funding, or investigations from the administration. https://protectdemocracy.org/work/retaliatory-action-tracker/

If you have wondered, as I have, why the Republicans in Congress have not exercised their constitutional rights to block Trump’s abuses of power, often in direct contradiction of Republican party principles, I assume that it is their fear of his vindictive attacks on anyone who criticizes him.

Trump has both threatened and actually moved to cut federal funds to a small but high‑profile group of universities, mainly to force changes on campus protests, DEI, admissions, and governance policies. At Harvard University billions in federal research grants and contracts were frozen or terminated starting in spring 2025. The reasons given by the Trump administration were the alleged failure to protect Jewish students and to tolerate antisemitism linked to pro‑Palestinian activism and criticism of “woke” policies, DEI programs. The Trump administration demanded leadership and governance changes, review of academic departments for perceived ideological “bias,” and changes to admissions policies. Harvard has filed legal challenges and publicly refused to accept some of the administration’s conditions, while still facing a major funding freeze.

Similar reasons were given for stopping and/or threatening to stop funding of contracts and projects at Columbia, Cornell, Northwestern, and Princeton, University of Pennsylvania and UCLA.  These are the tip of an ugly iceberg that are very inappropriate in our liberal, limited government, freedom loving country.

But not all demands were objectionable.In October 2025, the White House offered a formal “compact” tying preferential access to federal funding to a raft of ideological and policy conditions that were agreed to by nine universities.Vanderbilt University.Dartmouth College.University of Pennsylvania.University of Southern California.Massachusetts Institute of Technology (MIT).University of Texas at Austin.University of Arizona.Brown University and University of Virginia.

Key policy demands in the compact included:

  • Ban consideration of race or sex in admissions and hiring.
  • Cap international undergraduate enrollment at around 15% and subject foreign students to additional vetting.
  • Freeze tuition for several years.
  • Eliminate or sharply curtail DEI offices and programs.
  • Guarantee “ideological balance” or a “vibrant marketplace of ideas” without a dominant ideology

Trump the untrustworthy Bully –International: Trump pledged to serve American interests first, promising to end America’s forever wars and claimed to deserve the Nobel Peace Prize. Virtually every aspect of his foreign policy has been a failure, weakening our standing abroad and our national security.

The second Trump administration has ended no wars, conducted military strikes in at least seven countries, and with Israel started a new war in Iran. It has been complicit with Israel in the ethnic cleaning of Gaza and increasingly the West Bank, and by financial and armament support of Israel. Trump has weakened or lost the support of traditional allies with his threats to annex Canada and Greenland and his insults of European and other countries for not supporting his illegal war in Iran and more generally.

Bully Trump’s approach is illustrated by his spat with Pope Leo XIV. On Truth Social Trump proclaimed:

“Donald J. Trump

@realDonaldTrump

A whole civilization will die tonight, never to be brought back again. I don’t want that to happen, but it probably will. However, now that we have Complete and Total Regime Change, where different, smarter, and less radicalized minds prevail, maybe something revolutionarily wonderful can happen, WHO KNOWS?”

On April 19, 2026, Trump warned that the U.S. would “knock out every single Power Plant, and every single Bridge” in the country if they did not accept a new “DEAL,” Not that Trump cares but many of his threats, specifically those targeting civilian infrastructure like water and power plants, have been flagged by international human rights groups as potential violations of international humanitarian law.

Pope Leo XIV declared President Donald Trump’s threat to destroy “a whole civilization” unacceptable and suggesting Americans should contact their representatives in Congress to stop the conflict.

“Today, as we all know, there has also been this threat against the entire people of Iran.  And this is truly unacceptable. There are certainly issues of international law here, but even more, it is a moral question concerning the good of the people as a whole, in its entirety.

“I would like to invite everyone to think in their hearts of so many innocent children, so many totally innocent elderly people who would also be victims of this escalation. I would like to invite everyone to pray, but also to seek ways to communicate. Perhaps with congressmen, with authorities, saying that we don’t want war, we want peace.”

Trump responded by calling the Pope “Weak on crime” and “Weak on Nuclear Weapons” and falsely claiming the Pontiff agreed that Iran should have nuclear capabilities. In his Easter Sunday message the Pope said: “Let those who have the power to unleash wars choose peace.”

Trump’s failure to understand market trades and deals as win-win has fed his zero sum bully approach. America has been seriously damaged as a result.  Trump has either ignored or withdrawn from the international agreements or organizations such as the WTO, and WHO that have provided the basis of global cooperation and flurishing since WWII. And we have suffered as a result. https://wcoats.blog/2026/03/21/america-alone/  

Trump’s disregard for law has also been an element of his financial corruption, the details of which will hopefully be properly investigated.  Since returning to the White House for his second term, Trump’s net worth has grown by approximately $2.5 billion to $3 billion according to most financial trackers. Trump’s Presidency has been very bad for America.

My Blogs

From the time I could vote (1964) I have indevoured to evaluate each president’s policies on their merits (as seem by me of course). Thus, at one time or another I have praised or criticize policies of LBJ, Richard Nixon, Gerald Ford, Jimmy Carter, Ronald Reagan (my favorite president), George H.W. Bush, Bill Clinton, George W Bush, Barack Obama, Joe Biden, and Donald Trump. I often condemned a policy but not the President promoting it, in the belief that each President thought his policy was for the welfare of our country even if I disagreed. The exception is Donald Trump. 

Unique in my lifetime, we have a President whose primary interest is in seeing his name on things (Kennedy Center, Peace Institute, maybe Dulles Airport), filling the White House with gold to look like a palace, being praised by strong men (Putin, Orban, Mohammed bin Salman), dropping bombs where ever he chooses (having given up begging for the Nobel Peace Prize) and throwing his weight around (bullying), irrespective of the considerable damaging he is doing to our country. Now he wants his name on US currency (not to mention his likeness on gold coins).

Since 1861 the US treasurer’s signature has appeared on bank notes, along with the likeness of a deceased President.  In 1866, Congress passed what is commonly called the Thayer Amendment, which forbids the likeness of any living person from appearing on U.S. securities and currency. “Donald Trump is set to become the first sitting US president to have his signature on US banknotes, the treasury department has announced…. Trump’s signature will appear alongside Treasury Secretary Scott Bessent, an unprecedented move that the department said would mark America’s 250th anniversary…. The first $100 bills with the signatures of Trump and Bessent will be printed in June, with others to follow.  Notes currently being printed bear the signatures of former President Joe Biden’s Treasury Secretary, Janet Yellen, and Treasurer Lynn Malerba.” Just in case you didn’t know that we have a Treasurer in addition to the Secretary of the Treasury https://www.bbc.com/news/articles/cz0el909yp3o  

Trump is an egoist with the tastes and desires of a spoiled child. Unfortunately, as President of the United States his childish behavior is doing great damage to the U.S. and global order.

Not only Tariffs

Tariffs can serve the beneficial function of leveling the trading playing field when exports from, say China, have benefited from government subsidies. The world’s output and thus wealth is maximized when competitive trade (domestic and/or international) uses its labor and capital most efficiently. The rules of the World Trade Organization permit tariffs of this sort.

President Trump has taken a very different approach, which yesterday’s Supreme Court ruling against most of his tariffs has slowed. Trump, typical of his general bully approach to relationships, threatens or enacts tariffs totally unrelated to their proper purpose to make trade fairer. He uses them to gain concessions from other countries totally unrelated to economic efficiency. These, like his bullying more generally, are very damaging to American interests and well-being. As a private business man, his bullying approach resulted in six bankruptcies.

Rather the repeat the arguments I posted earlier I will direct you to some of my earlier comments and a few from others:

Tariffs
https://open.substack.com/pub/damonlinker/p/seven-observations-about-the-supreme?utm_campaign=post-expanded-share&utm_medium=web

Trump’s disregard of the law in the area of tariffs is not all we should be concerned with and push back against. In addition to his nasty treatment of our “Allias,” his corruption is shockingly extensive and very open as is his disregard for the law. Congress needs to wake up and do its job:

https://www.thefp.com/p/the-economy-can-survive-tariffs-not

https://open.substack.com/pub/persuasion1/p/a-blow-to-trumps-favorite-political?utm_campaign=post-expanded-share&utm_medium=web

P.S. I have not mentioned his childish ego expressed by adding his name and face all over the place. It is merely embarrassing, which we can survive.

P.S.S I have also not mentioned Trump’s serious damage to our national security from his war and threatened wars not authorized by congress as required by the constitution (in search for the Nobel Peace Prize??!!)