Monday, July 31, 2023

Tariffs and Trade


The Trump PAC has spent $40 million on legal costs this year.

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...a President Burgum would not regard fighting it as part of his job description. He would be a presidential rarity, acknowledging the 10th Amendment. (“The powers not delegated to the United States by the Constitution … are reserved to the states respectively, or to the people.”) Cultural issues are, he says, irrelevant to presidential duties.--Will on wokeness

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WOD

messiah: noun: A savior, liberator, or leader of a group or a cause

ETYMOLOGY: 
From Latin messias, from Greek messias, from Hebrew mashia (anointed), from Aramaic masiah (the anointed one). Ultimately from the Semitic root msh (to anoint), which also gave us massage and masseur. Earliest documented use: 450.

NOTES:
Someone anointed is one on whom a liquid is smeared, literally. The word anoint is from unguere (to smear), which also gave us ointment, unguent, and unctuous. In a religious context, the liquid is typically some plant-based oil applied to a person to consecrate them or make them sacred. In Christianity, the Messiah or the anointed one is Jesus Christ (from Greek christos: anointed).  

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The death rate from COVID for those aged 0-19 years is 0.0003%.

A 1-in-333,333 chance of dying.


Tariffs and Trade

"There are two ways we can produce automobiles. We can build them in Detroit or we can grow them in Iowa. Everyone knows how we build automobiles. To grow automobiles, we first grow the raw material from which they are made—wheat. We put the wheat on ships and send the ships out into the Pacific. They come back with Hondas on them.

From our standpoint, growing Hondas is just as much a form of production—using American farm workers instead of American auto workers—as building them. What happens on the other side of the Pacific is irrelevant; the effect would be just the same for us if there really were a gigantic machine sitting somewhere between Hawaii and Japan turning wheat into automobiles.
 
Tariffs are indeed a way of protecting American workers—from other American workers."--David Friedman

So, if we make our own Hondas, will our grain exports decline?

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