I gave you the name of the organization it came from, the Council of Economic Advisors. This is an Executive Branch organization which advises the President of the United States on economic policy.
Yes. So?
Are you doing an appeal to authority here? They're his economic advisors so they're very very clever and know what they're doing, is that it?
I notice you do that sort of thing on here at times but you do it very selectively.
Yes, his advisors are economists. But I looked up that dude you posted the video of. His economic ideas are not widely accepted.
Lots of other economists are queuing up to say how bone-headed these tariffs are.
Considering this, why would you keep going back to the standup math comedian you posted?
He's mostly explaining the maths of the equation. Pointing out how the terms 0.25 an 4 cancel out, which renders them pointless, and explaining what that formula means. He then opines that it's a pretty stupid thing to base policy on - he's not an economist so OK, it's just his opinion. But as I said a LOT of economists are saying it too.
Basically the underlying premise is that if a country is exporting more to the US than they are importing from the US then the country is somehow ripping the US off. But that's obvious bollocks, isn't it? It's far too simplistic. One example I heard talked about was Lesotho. They're a very poor country in Africa so consequently import very little from the US because they can't afford to. But they have diamond mines so they export a lot of diamonds to the US. They've been hit with a massive tariff because of the big difference between imports an exports. But that doesn't make any sense. Very few diamonds are produced in the US so you have to import them. So all this tariff means is prices of diamonds will go up for US citizens. Or you'll just import them less from Lesotho and more from other African countries. So that will push Lesotho further in to poverty.
Now obviously you don't care about that - the Trump version of the Bible is very much "fuck thy neighbour".
But it's an example of how stupid these policies are and how little they will achieve.
Tariffs aren't a good thing. Or a bad thing. They're just a mechanism. They should be used strategically, not using an Excel formula.
There's nothing actually wrong with the formula in and of itself, it's just not the sole basis on which you should be making policy.
There's no strategy behind this - or, rather, it's just massively flawed and far too simplistic.
It's just characteristic of this administration. It's like how they blundered into the public sector and hacked away with no strategy.
Then they invited a journalist into a Signal chat about a live military operation.
These are not serious or competent people, they shouldn't be in charge of any country, let alone the most powerful one on earth.