Today’s guest blogger is Jeffrey Sachs. In Trump’s Insane Trade War, Professor Sachs writes,
Maybe Donald Trump really is the Manchurian Candidate, a stooge of some foreign potentate. Much more likely, Trump is just mentally unstable and narcissistic. Whichever it is, Trump is rapidly destroying American global leadership, alliances, and interests. Wednesday’s announcement of new tariffs on steel and aluminum exports from Canada, Mexico, and the European Union is the latest bizarre and self-destructive move. ,,,
Trump’s so-called policies are not really policies. Trade wars are on, off, on hold, on again, within the span of days. Summits are on, canceled, or maybe on. Foreign companies are sanctioned today and rescued the next. He says one day he would like to see overseas troops called home soon, and tells them to stay the next. Global agreements and rules are ripped to shreds. Trump’s garbled syntax and disorganized thoughts are impossible to follow.
The US has probably never before had a delusional President, one who speaks gibberish, insults those around him including his closest associates, and baffles the world. By instinct, we strive to make sense of Trump’s nonsense, implicitly assuming some hidden strategy. There is none. …
Trump creates chaos for no reason other than his own flagrant inability to follow rules or respect the interests of others. His is a psychopath’s trade war. The result will be to undermine the long-term role of the dollar; ratchet up the public debt; and undermine the current expansion through a spiral of protectionist measures and rising uncertainties for business. ,,,
The real answer to Trump’s trade (and other) policies is the 25th Amendment. Trump is unwell and unfit to be President. He is a growing threat to the nation and the world.
Then there was the scene last week where he said Kim wrote a very nice letter, but he had not read it.
OK, plutocrats, how’s that Faustian bargain workin’ out for ya?