Trumpnomics

Before we get to the subject of today's post, let's take a moment to acknowledge the tragedy from Tuesday morning in Baltimore, where a massive cargo ship crashed into the Francis Scott Key Bridge causing the bridge to collapse.  

On the positive side of this tragic event, it does seem that all the relevant authorities have acted with all due speed, efficiency and compassion.

On the sadly fully expected offensive side, a number of right wing nut cases tried to blame the tragedy on open borders and wokeness. 

Fuck those people.

Stay strong, Baltimore.  

Donald Trump and his organization were found guilty in a court of law for fraudulent business activities.  

Trump of course denied this because he's the best business person in the world and super smart and his numbers are perfect, blah blah blah (you all know the drill) and is seeking to appeal this ruling.

OK, he can do that but he needed to put up a bond of nearly half a billion dollars while he does that.

The deadline to do that was Monday, March 25th. So far, no insurer or financial entity is willing to secure this bond. Wow, who knew a lifetime of NOT paying people what you owe might make someone a bit skittish to secure a half billion dollar debt.

This post is scheduled to go up on Wednesday, March 27th but I'm writing this over the weekend prior. 

As I write this on Saturday, alleged billionaire Donald Trump ain't got the money.

As I write this on Saturday, what do I expect will happen on Monday.

Option #1: Trump's infernal luck will hold and some damn archaic law or regulation will allow him to have more time.

Option #2: Trump comes up with the money somehow and it won't be clear exactly how and there will be speculation that the Russians or the Saudis are involved and oh God, there's going to more legal trouble for Trump over this. 

Or...

Option #3: For the first time ever in his sorry ass lying, cheating, small minded, delusional life, Donald Trump will actually have to deal with the consequences and the New York attorney general starts seizing Li'l Donnie's shit. 

Past Me will leave this next part blank and Future Me will fill this in before this goes live on Wednesday.  Past Me is being very cynical and does NOT expect it will be option #3 and most likely will be option #1. 

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<INSERT OUTCOME HERE>

Addendum 3/25/2024, 7:30 PM EDT 

Let's hear it for cynicism. What came to pass on Monday was both a delay (Li'l Donnie was given 10 for days) AND a reduction (the bond is now $175 million). 

So no "For Sale" sign on Trump Tower just yet.     

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Meanwhile, Lil Donnie still thinks he's gonna be President again and here's his brilliant solution for the United States economy:

Tariffs 

Donald Trump thinks if he adds tariffs to imported goods, especially stuff from China, American companies will make their shit in America and that'll bring jobs back.

I wrote about Trump's approach to tariffs back in 2019 (click here and click here too for that.)  

Li'l Donnie's grasp on economics is no better now than it was then.   

American companies will not automatically make stuff here because of tariffs on stuff made elsewhere.  If stuff made elsewhere PLUS tariffs can be made cheaper than stuff made here, the tariffs just become part of the cost of doing business. And guess who that cost gets passed on to, suckers! 

And guess who else gets to add tariffs to stuff? Other countries. 

The last time Trump tried to tariff his way to economic superiority, he had to go to Congress to ask for government assistance to farmers who were fucked over by his trade war with China.  

Meanwhile, Trump's rhetoric paints a picture of an American economy that is in some kind of post apocalyptic free fall like we're all reduced to scavenging for food along streets alight with trash can fires.  

Overall, the economy is good with a shrinking trade gap between America and China, low unemployment and inflation under control (mostly).  

(Inflation could be better. There is no way a box of Rice-A-Roni should be $2.50!)  

There's nearly an endless line of economists who will tell you that Trump's plans for tariffs is fundamentally harmful to the economy and to consumers.

Trump's response to economists: they are wrong.

And that is the totality of his case against people who study the economy for a living: they are wrong.  

And this from a guy who can't solve his own very real economic crisis.  

Depending on what I added to the middle of this post afterwards. 

Dave-El, 03/23/2023