‘Willing sycophants’ came up with simplistic formula that has thrown global economy into disarray

cross-posted from: https://beehaw.org/post/19241243

Waving a big chart as a prop in the White House Rose Garden, Donald Trump suggested his new tariff plan was simple: “Reciprocal – that means they do it to us, and we do it to them. Very simple. Can’t get simpler than that.”

Perhaps a bit too simple. The method used to calculate the most important numbers in international trade, politics and economics has left some of the world’s leading experts shocked.

For each country, the White House looked up its trade in goods deficit for 2024, then divided that by the total value of imports. Trump, to be “kind”, said he would, however, offer a discount, so halved that figure. The calculation was even distilled into a formula.

    • Optional
      3•3 months ago

      Uh excuse me, where is your ridiculously oversized truck and bedsheet-sized flags?

  • magnetosphere
    32•3 months ago

    The economists are only “stunned” because they’re used to dealing with logic, reason, and numbers that make sense. You have to throw those things out the window when dealing with Mango Mussolini, folks!

  • Optional
    10•3 months ago

    “[It is] quite an extraordinary calculation after months of work behind the scenes,” said Jim Reid, the global head of macro research at Deutsche Bank. “[It] didn’t add much confidence on there being an in-depth strategic implementation plan.”

    lol. First of all Deutsche Bank, how are you still operating, and secondly it’s your fucking fault the demented rapist is even here (thanks to Justice Kennedy’s son). Thirdly, anyone who thinks a trump administration effort is going to have an “in-depth strategic plan” is smoking crack. (Those of you arguing ‘project 2025’ remember that came from outside the administration)

  • Optional
    10•3 months ago

    ‘Willing sycophants’ came up with simplistic formula that has thrown global economy into disarray

    Way to shoot us in the crotch republiQans and eligible non-voters! You suck!

    • @[email protected]English
      3•3 months ago

      B-but muh egg prices! Also, something something okay with the economy crashing if it owns the libs.

  • @[email protected]English
    3•3 months ago

    “Make America Wealthy Again”

    Tariffs don’t charge the foreign entity

    American companies pay the tariffs

    The “America” being made wealthy must mean the government

    The same government that isn’t paying out to USAID, researchers, or anything else DOGE plugged

    Less money out, more money in.

    This will be remembered as the largest migration of money between classes in US history.

    • @[email protected]
      1•3 months ago

      American companies pay the tariffs

      American companies pass throught he tariffs. American people pay them.

  • @[email protected]
    4•3 months ago

    The thing that makes no sense to me is… who is actually making those calculations?

    It sure as hell isn’t trump, I doubt his ability to understand what a trade deficit is.

    Is he even capable of describing his goal to someone in a useful way such that they could come up with the calculations?

  • @[email protected]
    36•3 months ago

    The trump regime was designed to TANK the US economy so that stocks, businesses, and industries can be bought by billionaires at rock bottom prices.

    All is going according to plan.

    • Drusas
      5•3 months ago

      They are also designed to give Trump leverage over companies and countries.

      • @[email protected]
        1•3 months ago

        Kind of like punching your neighbor in the face, shooting yourself in the foot, then begging your neighbor for help.

    • @[email protected]English
      4•3 months ago

      This is nonsense that gets spread way too often. The wealthy benefited from Covid, but they did not benefit from the Great Depression. Billionaires are shortsighted hoarders who can’t help but screw themselves over in their race to the top end. They really are so fucking stupid and greedy that they will crash the economy by accident, AGAIN.

    • SeaJ
      11•3 months ago

      It is kind of seeming like this. Anyone who has a ton of cash on hand can get amazing deals on assets. Trump has said as much.

  • @[email protected]English
    20•3 months ago

    Republicans have been confidently and fully wrong about economics for like a hundred years now dude, a republican making up economic bullshit that will hurt the American people should not be a surprise.

  • SeaJ
    6•3 months ago

    Odd (not at all) that Russia is not included. I know that we lot do about $3.5 billion in trade with them but some places that we hit with tariffs are not even inhabited.