The first step in policy analysis is figuring out what's going wrong. And by my view, we're facing two crises: A tariff crisis, and a crisis of confidence built upon fears incompetence. Let me lay it out, wonk it out and math it out, and maybe get a bit... testy along the way.show more

At some point, investors will realize the president of the United States is a demented moron who, literally, doesn’t care if he crashes markets.

How could a President widely conceded to be obtuse, dishonest, truculent, a liar and cheat, backed up by a supine Congress and the most worthless Cabinet in history, ever give rise to a crisis of confidence?

There's one thing that makes markets behave so disproportionately. It's a financial crisis under the surface. Goodness knows how that will be handled when it breaches.

Dive into the critical issues shaping economic policy, from President-elect Trump’s sweeping tariff proposals to the challenges Texas faces under rising government spending. Now is the time for bold reforms to protect taxpayers and ensure economic freedom thrives.

Thank you Professor Wolfers for pouring Logic and Reasoning into the financial TARIFF WHITE HOUSE AND ADMINISTRATION equation.

Thank you for your clear explanations.

@emptywheel And the realization that Trump is insane!

@emptywheel Total incompetence by this peckerhead!

The crisis of confidence is a good thing. We want more of that, more adults speaking and acting rationally and in accord with reality. No one should trust Trump’s lunacy and delusions.

How do we deal with the incompetence part given that this guy is here for another 4 years

Those are not the actual underlying crises.