Great article with a good explanation on economics. Alas, not all folks here seem to have a good understanding of econ1 stuff. 🙂
Increasing the money supply while the supply of goods was declining due to shutdowns caused by covid is the reason why inflation went up with “free money” going to too many people who really didn’t need the money.
All well said, but no mention of the Great American hobby of living beyond ones means? Sorry, but folks are naive if they dream prices won't rise. An inability to adjust accordingly is part of the frame here.
Loved, loved, loved this article!! Catherine made economics easy to understand, interesting and fun to learn how there will be fallout from Trump's tariff policies. Extremely happy to have her on board at the Bulwark.
When a tariff lands on us, we lift our heads to the sky and say, "Hasa Diga Eebowai."
Uh... anyway, Welcome aboard. I stopped reading WaPo years ago, but right before I left for good, you were my favorite author at the time, so very nice surprise having you here!
As for the Tariffs, I've got little bit of JVL's philosophy here, I really want to the stove touching lessons to land a bit.
Also, if history is any guide, the Supreme Court will find some half-assed, middling way to avoid direct confrontation with ... him.
Excellent article on a very painful topic. Rampell has a talent for explaining complex economic issues in a very clear, easy to understand manner. So many writers on the economy resort to language and examples that are very difficult for non-economists to follow. I look forward to another Bulwark newsletter to keep me informed of what's going on.
Welcome Catherine! I would have preferred "The Rampell Rampart" as the name for your newsletter (as you said was your first thought in the video with Sarah Longwell this week).
"A related secondary question that arose in Wednesday’s oral argument is what counts as a “national emergency” for the purposes of the IEEPA. (Do trade deficits count? What about being mean to the president’s Brazilian buddy?) The justices sounded somewhere between skeptical of and hostile to the government’s arguments."
Kudos! Great article, great interview with Sarah, and great that the Bulwark is bringing in more resources to support the Bulwark community around economics and markets.
My thought - I don't believe the Supreme Court taking away Trump's Tinker-Tariff-Toys will be a significant boom for the economy. I think the most destructive economic impact of Trump's pathologies is not the tariffs themselves, but the way he has undermined U.S. reliability as an economic and trading partner. Foreign governments and businesses are rational actors, and regardless of the fate of tariffs, they are hedging their bets going forward, as well they should, which will be to the detriment of the American empire and all its economic privileges.
Add that to AI slowly chewing up jobs, our downward debt spiral, over-extended social program promises and military obligations, and I suspect the next three years will not be much fun. The right will pay a price, but real solutions require sacrifice, and are we wise enough to accept there can be no free lunch? Fascinating times ahead indeed.
"...a fat-fingered tweet" --pricless! Says so much about the American experience during the last 9 months in only two words. And even the economics-challenged among us can follow this article and...learn, instead of becoming overwhelmed and falling into a coma. Please keep this up. It's a whole new experience for some of us.
"The only real question is whether he’d be smart enough to accept it."
No, smart has nothing to do with it.
The first question is whether he'll become sane enough to accept it. And the answer to that is "no". He's a delusional mega-narcissistic psychopath, buoyed by an adoring person-cult base, surrounded by a legion of sycophants acting the parts of tribunes to the God Emperor, hermetically sealed inside a counter-reality of his own conjuring.
The second question is whether he might become crazier enough for some action coming out of nowhere to catch his malign fancy so thoroughly he just stops caring about tariffs.
Isn’t our US national debt (and endless deficits) driving the economy into the ground? Trump’s naive tariffs were/are just a pretend attempt to smokescreen the real issue.
The Supreme Court has not intention of saving anyone from anything! They are more selfish than Midas. The six judges own by hump have sold their souls to the devil!
Welcome Catherine. You’re very readable! Much appreciated!
Great article with a good explanation on economics. Alas, not all folks here seem to have a good understanding of econ1 stuff. 🙂
Increasing the money supply while the supply of goods was declining due to shutdowns caused by covid is the reason why inflation went up with “free money” going to too many people who really didn’t need the money.
Peace.🙏
All well said, but no mention of the Great American hobby of living beyond ones means? Sorry, but folks are naive if they dream prices won't rise. An inability to adjust accordingly is part of the frame here.
Loved, loved, loved this article!! Catherine made economics easy to understand, interesting and fun to learn how there will be fallout from Trump's tariff policies. Extremely happy to have her on board at the Bulwark.
When a tariff lands on us, we lift our heads to the sky and say, "Hasa Diga Eebowai."
Uh... anyway, Welcome aboard. I stopped reading WaPo years ago, but right before I left for good, you were my favorite author at the time, so very nice surprise having you here!
As for the Tariffs, I've got little bit of JVL's philosophy here, I really want to the stove touching lessons to land a bit.
Also, if history is any guide, the Supreme Court will find some half-assed, middling way to avoid direct confrontation with ... him.
Excellent article on a very painful topic. Rampell has a talent for explaining complex economic issues in a very clear, easy to understand manner. So many writers on the economy resort to language and examples that are very difficult for non-economists to follow. I look forward to another Bulwark newsletter to keep me informed of what's going on.
Welcome Catherine! I would have preferred "The Rampell Rampart" as the name for your newsletter (as you said was your first thought in the video with Sarah Longwell this week).
"A related secondary question that arose in Wednesday’s oral argument is what counts as a “national emergency” for the purposes of the IEEPA. (Do trade deficits count? What about being mean to the president’s Brazilian buddy?) The justices sounded somewhere between skeptical of and hostile to the government’s arguments."
Praise the lord!
Great newsletter and Take with SL. Welcome!!!
Kudos! Great article, great interview with Sarah, and great that the Bulwark is bringing in more resources to support the Bulwark community around economics and markets.
My thought - I don't believe the Supreme Court taking away Trump's Tinker-Tariff-Toys will be a significant boom for the economy. I think the most destructive economic impact of Trump's pathologies is not the tariffs themselves, but the way he has undermined U.S. reliability as an economic and trading partner. Foreign governments and businesses are rational actors, and regardless of the fate of tariffs, they are hedging their bets going forward, as well they should, which will be to the detriment of the American empire and all its economic privileges.
Add that to AI slowly chewing up jobs, our downward debt spiral, over-extended social program promises and military obligations, and I suspect the next three years will not be much fun. The right will pay a price, but real solutions require sacrifice, and are we wise enough to accept there can be no free lunch? Fascinating times ahead indeed.
"...a fat-fingered tweet" --pricless! Says so much about the American experience during the last 9 months in only two words. And even the economics-challenged among us can follow this article and...learn, instead of becoming overwhelmed and falling into a coma. Please keep this up. It's a whole new experience for some of us.
"The only real question is whether he’d be smart enough to accept it."
No, smart has nothing to do with it.
The first question is whether he'll become sane enough to accept it. And the answer to that is "no". He's a delusional mega-narcissistic psychopath, buoyed by an adoring person-cult base, surrounded by a legion of sycophants acting the parts of tribunes to the God Emperor, hermetically sealed inside a counter-reality of his own conjuring.
The second question is whether he might become crazier enough for some action coming out of nowhere to catch his malign fancy so thoroughly he just stops caring about tariffs.
We probably better hope he sticks to tariffs...
Welcome to the Bulwark; great article!
Isn’t our US national debt (and endless deficits) driving the economy into the ground? Trump’s naive tariffs were/are just a pretend attempt to smokescreen the real issue.
The Supreme Court has not intention of saving anyone from anything! They are more selfish than Midas. The six judges own by hump have sold their souls to the devil!
First Rampell article of many, we hope!!