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Trump's Economic Elixir: A Toxic Mix Masquerading as Tariff Medicine

Trump's Economic Elixir: A Toxic Mix Masquerading as Tariff Medicine

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Croaky Caiman
Oct 12, 2024
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Croaky’s Substack
Croaky’s Substack
Trump's Economic Elixir: A Toxic Mix Masquerading as Tariff Medicine
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I usually avoid discussing economics, not because it isn’t important, but because it’s often an exercise in navigating a sea of variables with even more variable outcomes that make my eyes glaze over. The economic world is filled with competing models and theories, each capable of producing different results under varying circumstances, which makes these conversations feel nebulous and less concrete. I leave these discussions typically to those who enjoy them and who operate within that world and can see the real-world implications rather than just academic and theoretical effects. Frankly, I enjoy the luxury of stepping back from this world and embracing my more hermit-like existence, detached from the chaos and just watching the world fly by.

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However, today, I find myself compelled to address a glaring case of blatant economic illiteracy one that as days go by the volume increases as Trumpers and self-identifying conservatives (really populists) promote it as the magic elixir the cure for what ails our economy: Trump’s obsession with tariffs. It’s not just bad policy—it’s a relic of an outdated economic mindset that doesn’t belong in this century. What’s more frustrating is that either he and his people fail to see the real-world repercussions we face daily, or worse, they’re actively deceiving the most clueless among his base and feeding them a narrative they’ll repeat believing repetition makes it true. This isn’t a topic I dive into often, but sometimes the sheer absurdity of an argument forces you to respond.

I often marvel at how the economic literacy of some of Trump’s more ardent supporters seems inversely proportional to the volume of their support for tariffs. It’s as though the moment the ex-president embraced protectionism, what was once derided on the right as bad policy became, in the blink of an eye, the panacea for American manufacturing. Suddenly, tariffs, once considered a tax on American consumers, are hailed as the ultimate “job-creation tool.” Yet, in their enthusiasm, our MAGA brethren overlook a key fact: tariffs are not reviving American employment; they are, in fact, accelerating the loss of human jobs.

The Economic Illiteracy Behind Supporting Tariffs

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