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.
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!
I took Econ classes and accounting classes and tax classes…and the numbers just don’t add up - no matter what. The national budget deficit and debt load is going to destroy us. Trump thinks the solution is tariffs…but what happens when you take that option away from an administration hell-bent on giving tax cuts to the wealthiest at the expense of the most in need of care and aid.
I bet Trump has a plan for that too, print 38 $1 trillion dollar bills with his face on them. Use those to pay the debt off. The Trump National Debt Elimination Plan.
Hmm…I know you are joking, but I wouldn’t put that attempt at a solution past him. Sadly, a lot of people would probably believe him - including himself.
It doesn't feel so much a joke when seeing Trump's proposed solutions such as “THE ONLY HEALTHCARE I WILL SUPPORT OR APPROVE IS SENDING THE MONEY DIRECTLY BACK TO THE PEOPLE, WITH NOTHING GOING TO THE BIG, FAT, RICH INSURANCE COMPANIES. . . . THE PEOPLE WILL BE ALLOWED TO NEGOTIATE AND BUY THEIR OWN, MUCH BETTER, INSURANCE. POWER TO THE PEOPLE! “
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.
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!!
I took Econ classes and accounting classes and tax classes…and the numbers just don’t add up - no matter what. The national budget deficit and debt load is going to destroy us. Trump thinks the solution is tariffs…but what happens when you take that option away from an administration hell-bent on giving tax cuts to the wealthiest at the expense of the most in need of care and aid.
I bet Trump has a plan for that too, print 38 $1 trillion dollar bills with his face on them. Use those to pay the debt off. The Trump National Debt Elimination Plan.
Hmm…I know you are joking, but I wouldn’t put that attempt at a solution past him. Sadly, a lot of people would probably believe him - including himself.
It doesn't feel so much a joke when seeing Trump's proposed solutions such as “THE ONLY HEALTHCARE I WILL SUPPORT OR APPROVE IS SENDING THE MONEY DIRECTLY BACK TO THE PEOPLE, WITH NOTHING GOING TO THE BIG, FAT, RICH INSURANCE COMPANIES. . . . THE PEOPLE WILL BE ALLOWED TO NEGOTIATE AND BUY THEIR OWN, MUCH BETTER, INSURANCE. POWER TO THE PEOPLE! “