Early estimates suggest that the US war with Iran is costing $1 billion a day, so $8 billion in the hole and counting. It will get more expensive if we actually invade.
07.03.2026 13:42
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Early estimates suggest that the US war with Iran is costing $1 billion a day, so $8 billion in the hole and counting. It will get more expensive if we actually invade.
How fucking stupid does he think we are? Even Trump calls it a war.
The greatest economy ever! The impacts of Trump’s policies on the economy are starting to become evident. www.wsj.com/economy/jobs...
No surprise here. Section 122 was designed to address international payments problems in a world of fixed exchange rates. We do not have an international payments problem, the balance of payments is in balance, and we live in an era of floating exchange rates. www.wsj.com/politics/pol...
When your country is run by truly stupid people…..
God forbid that they would let things stand still for more than a couple of weeks. The constant uncertainty around the tariff regime creates a disincentive for businesses to make long term, job generating, investments. www.bloomberg.com/news/article...
1956 Land Rover
1969 Mini Cooper
1975 VW Beatle (orange of course)
2011 Toyota FJ Cruiser
2025 Rivian RT1
Projection.
Double speak.
The Government does not know what it’s doing. I’m so surprised.
The Time Lords are a force for good in the Universe, how dare you denigrate them.
Would’nt it be ironic if Trump’s oil embargo turned Cuba into a solar powered state. www.economist.com/the-americas...
The best Opinion article the WSJ has published in a long while. www.wsj.com/opinion/the-...
So, Trump is still saying that foreign countries pay his import tariffs, when they don’t (American importers do), and claiming tariffs can replace the income tax, which would require tariff rates of 100% (assuming import substitution) and would decimate many American businesses. Nuts!
Stupid. He can’t grasp the reality of who pays.
To be fair, the US has outperformed the rest of the world for several years, so a catchup was in the cards.
The latest trend in Trump land - hit yourself in the face with a hammer. www.gq.com/story/what-i...
This is the story of how dumb, dumber, and really fucking dumb decided to send a hospital ship that sits in a dry dock and can’t go anywhere to a country that didn’t need or want it. www.wsj.com/world/the-gr...
The point being, there are no grounds for imposing the new round of tariffs under section 122, because the problem they are ment to address DOES NOT EXIST. 3/3
True we run a TRADE DEFICIT, importing more than we export, and yes, this means a net outflow of dollars. But foreigners invest those dollars back into the US, buying US financial assets like T bills. As a result, the balance of payments is in balance. There is no balance of payments problem. 2/3
Thoughts on Section 122: the language states that the President can impose tariffs to address a serious balance of PAYMENTS problem - but we DO NOT have a balance of payments problem. We DO NOT have a deficit in the balance of payments. 1/3
The mad king is now fantasizing about Iran, just like he fantasizes about everything else. There is reality, and then there is Trump land, and the two are not the same at all. www.nytimes.com/2026/02/23/u...
He’s mentally ill.
Mentally ill is the correct term.
It’s just a start.
Exactly. You would have thought the FT would know better.
This system has worked well for the US, and so long as the dollar maintains its unique status as the world’s reserve currency, it will continue to. However, Trump’s trade policies are now putting that status at risk, which is bad.
Trade deficits aren’t a problem if they can be financed by capital inflows. The US has been doing this for 50 years. We buy stuff from foreigners and give them dollars. They lend those dollars back to us, buying T-bills and other financial assets. This lowers the cost of capital in the US.
Someone should challenge the legality of Trump’s 122 tariffs. We don’t have a balance of payments emergency. At around 3% of GDP, the trade deficit is at the low end of the historic range since 2000. The US has run a trade deficit since the 1980s, yet economy has grown significantly. No emergency!
