Some thoughts on today's trade deficit stats. youtube.com/watch?v=IZZFW7Ruzm8&feature=youtu.be

Some thoughts on this weeks JOLTS manufacturing statistics: www.youtube.com/watch?v=-UbD...

The Trump Effect (The area in pink/red shows additional taxes resulting from tariff increases above the 2.2% January rate.)

"Trump’s epic misunderstanding of the global economy reminds me of an episode of Sopranos. 2 of Tony’s crew try to force the local Starbucks to pay them protection money The store manager tells them: “I can’t authorise that, it would have to go through corporate in Seattle.” on.ft.com/4215Vv1

Trump is using questionable authority to implement global #tariffs: “In the IEEPA’s almost 50-year history, no previous president has used it to impose tariffs. Which is not surprising, since the statute does not even mention tariffs.” @adamposen.bsky.social @mclem.org www.forbes.com/sites/stuart...

THERE IS NO SUCH THING AS A “TRADE DEFICIT”—IT’S JUST CALLED “BUYING THINGS.” YOU DO NOT HAVE A TRADE DEFICIT WITH YOUR DENTIST JUST BECAUSE HE NEVER BUYS ANYTHING FROM YOU.