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Andrew Tobias

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Andrew Tobias
Andrew Tobias

Money and Other Subjects

Governed By Confused Intuition

April 13, 2025

Wall Street Journal editorial board member Holman W. Jenkins Jr. — who in the middle of Trump’s first term was paraphrased as saying “Trump can do anything and I’ll support it” — now writes: Trump Wants to Be Impeached Again.


It’s already in the cards thanks to his ill-founded trade war, no matter how that war plays out.

. . . A future Trump impeachment seemed all but guaranteed by last Wednesday morning. It seems only slightly less likely now. It may even be desirable to restore America’s standing with creditors and trade partners.

. . . Mr. Trump’s great achievement was his 2024 re-election, a rebuke to the injustices and insults meted out to him and his fans since 2016, some of which were even real. However, no consensus or even significant coalition exists for trying to force into existence a new American “golden age” with tariffs, which anyway is like asking a chicken to give birth to a lioness. He invented this mission out of his own confused intuition.



But if we impeach him, could we please impeach them both?

The Vice President says “peasants” and here’s what the Chinese hear (46 seconds).



Fareed:  “Complexity breeds corruption, and the tariff system is now tailor-made for both.”


. . . The India I grew up in was a country riddled with tariffs, high barriers designed to protect the country’s domestic industry and shield it from what was regarded as unfair foreign competition. It produced stagnation, poverty and lots of corruption, thoroughly politicizing the economy. No business of any size in India could survive without a good relationship with the government. When I got to America, I was thrilled to see that most businesses went about their work with little care as to who was in the White House. But now I watch tech pioneers give interviews slavishly extolling Trump’s genius and Wall Street titans race to post North Korea-style congratulations to the president for his brilliance in rescuing the economy from his own actions, and I wonder, what country am I living in?




If you saw Ray Dalio on Meet the Press, you know he thinks we could be headed for a global depression.



I have the happy gene, but that hasn’t kept me from buying puts.

 

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