This geremiad was in the FT today - and my comment to it:

"Thomas Sampson, associate professor of economics at the London School of Economics, said the formula was “a figleaf for Trump’s misguided obsession with bilateral trade imbalances” and there was “no economic rationale” for the tariffs. “As long as the US does not save enough to finance its own investment, it has to borrow from the rest of the world. That requires it to run a trade deficit. Tariffs don’t change that logic.”


So, according to this genius, "the US does not save enough"! But Pettis (and my humble self) would instruct him that the US can never save enough so long as wits like himself and his country deposit their savings in the US! For which Americans have to pay interest (chiefly on Treasuries) and because of which an overvalued greenback makes it all but impossible to export anything from America, except s__it like Facebook and Netflix and so on! And then they come crying about "the international world order" and other garbage, certain in the assurance that Uncle Sam and its citizens will pay with blood and military resources to protect this..."world order"! To put it politely, as much as I detest this Admin and it's scatterbrained policies, I would not p__s on these genius economists if they were on fir

e!

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