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We were wrong about Trump and tariffs. It may be true that Trump doesn’t know how tariffs actually work. The situation is more disastrous than Trump doesn’t understand tariffs. Trump builds a world of fantasy in which he rethinks American economic history, and that delusion guides the US economy.
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Consider what Trump claimed while announcing tariffs.
They established income taxes so that citizens, not foreign, but citizens, begin to pay the money they need to run our government. Then, in 1929, it all ended very abruptly with Great Fear Presion, and it would never have happened. If they had stayed with tariff policy, that would have been a very different story.
They tried to retrieve the tariffs to save us. The country, but it’s gone. That was gone. It was too late. I couldn’t do anything. It took me years to get out of that depression, but it’s far longer than even. Well, FDR had that office over there for a long time. A rather complicated lamp system was built for him.
And every time you stand up, you think of him. And he did a great job in many ways, but as you know it went far beyond his terminology. But it’s not too late anymore, and we start to get smarter and we start to become very wealthy again. They have taken much of our wealth from us, so we will become wealthy as a nation.
