‘Willing sycophants’ came up with simplistic formula that has thrown global economy into disarray

cross-posted from: https://beehaw.org/post/19241243

Waving a big chart as a prop in the White House Rose Garden, Donald Trump suggested his new tariff plan was simple: “Reciprocal – that means they do it to us, and we do it to them. Very simple. Can’t get simpler than that.”

Perhaps a bit too simple. The method used to calculate the most important numbers in international trade, politics and economics has left some of the world’s leading experts shocked.

For each country, the White House looked up its trade in goods deficit for 2024, then divided that by the total value of imports. Trump, to be “kind”, said he would, however, offer a discount, so halved that figure. The calculation was even distilled into a formula.

  • venotic@kbin.melroy.org
    86·
    1 day ago

    This is a guy who has six business bankruptcies under his belt. What could he know about the economy? If he knew anything about the economy, those businesses would still be alive and thriving.

    • Hylactor@sopuli.xyz
      281·
      1 day ago

      Keeping a business running takes sustained effort. This sack of shit is more in the strip out all the copper and turn a quick buck leaving wreckage in your wake type of business man.

      • Kraven_the_Hunter@lemmy.dbzer0.com
        3·
        17 hours ago

        With the “stripping all the copper” analogy you’re describing a strung out drug addict more than a businessman, though.

        I’m not saying you’re wrong, mind you, just that you’re not making any supporting claim for him being a businessman.

        • Hylactor@sopuli.xyz
          7·
          16 hours ago

          I generally agree that he’s not a business man in the strictest sense. But he is undeniably “successful”. He’s lived the lavish lifestyle of his dreams, he’s never suffered any meaningful consequences, and he’s been elected president twice. Even if he is eaten alive by ants tomorrow, he’s already lived for 78 years, enjoying fame and attention, playboy interviews, committing crime with impunity, and seizing the nation itself to serve his pretty needs for vengeance. Hell, he has literally dodged a bullet. True justice is out of reach I’m afraid. It’s more like his measure of success is corrupted. Success to him is not synonymous with productivity. He is at his core, a rapist, getting what he wants is only technically the point. More important is taking it. Getting away with it. Stealing it. Breaking something. Exerting his will. That’s what he’s about. His business is spiritual, not material. It’s coercion, and force. And in this field, he is quite “successful” indeed.

    • TooManyFoods@lemmy.world
      15·
      1 day ago

      I mean I think I read one was bought out in the bankruptcy and is doing alright under new management. Maybe we should find the guy who bought it

    • Optional@lemmy.world
      9·
      1 day ago

      well, tbf for no reason at all, some of those bankruptcies were just to stick the russian mob money laundering operation under the rug and the losses to the shareholders.

      So it wasn’t just incompetence, it was also malevolence and moral bankruptcy.

      • prole@lemmy.blahaj.zone
        3·
        23 hours ago

        So it wasn’t just incompetence, it was also malevolence and moral bankruptcy.

        Also known as the GOP Trifecta.