Paul Krugman:
The Nobel Prize Paul Krugman joined other economists to deliver some hard words for the changing rates policies of President Donald Trump and those who think he is doing a good job.
“Anyone who seems that all the work on tariffs, or Trump’s economic policy in general, must be kept away from sharp and forbidden objects to operate heavy machinery,” wrote Krugman, one of the country’s main economists, in a replacement post entitled “Trump is stupid, erratic and weak.”
It is nonsense to think that Trump’s axis on rates yesterday, when he announced that he was now giving a 10% rate for all countries and a 125% rate in China during the next 90 days, he has actually improved anything, Krugman said. He said “still at risk of a great financial crisis,” and the rest of the world “now knows that Trump is weak and erratic.”
Global uncertainty about Trump’s actions is as dangerous for the economy as high rates, he said.
“So, are things resolved now? Barely. The pause is for 90 days. So what happens? Nobody, including Trump, has the slightest idea,” Krugman wrote.
Nurphoto through Getty Images
″[I]F Did you own a business or executive, would you make any important investment or long -term commitments in the coming months? asked. “I wouldn’t.”
The investigation has found that the lighter tariffs that “would impose an unpleasant shock to the economy of the United States,” Krugman wrote, pointing to a previous economic model at the Peterson Institute for the built international economy, assuming Trump would implement 10% tariffs in all areas and only 60% in China.
“The Trump Pause Rate Regime remains the largest commercial shock in the US, and I think world history,” Krugman said.
Earlier this week, a superior economist said he was surprised to discover that the Trump administration had cited his investigation by formulating the rates, saying they got it “very bad.”
We do not work for billionaires. We work for you.
The great monetary interests are directing the government and influencing the news it reads. While other points of sale are withdrawing behind the paid walls and bending the knee at political pressure, News themezone is proud to be not appealed and unilruled. Will you help us keep it like this? You can even access our stories without ads.
You have supported News themezone before and we will be honest: we could use your help again. We will not go back to our mission to provide free and fair news during this critical moment. But we can’t do it without you.
For the first time, we are offering an experience without ads to qualified taxpayers who support our intrepid journalism. We hope it will join us.
You have supported News themezone before and we will be honest: we could use your help again. We will not go back to our mission to provide free and fair news during this critical moment. But we can’t do it without you.
For the first time, we are offering an experience without ads to qualified taxpayers who support our intrepid journalism. We hope it will join us.
Support News themezone
Already contributed? Log in to hide these messages.
“How the hell calculated such great rates?” The professor of Economics at the University of Chicago, Brent Neiman, who worked for the United States Department of the Treasury under former President Joe Biden, wrote in an opinion article of the New York Times.
The former Treasury Secretary of the United States, Janet Yellen, also had hard words for Trump’s rates policy on Thursday.
“This is the worst self -inflicted wound that I have seen in an administration to impose an economy that works well,” he told CNN.