In-Coming Data Fostered By Idiots

If you don’t think Washington is populated by the world’s greatest collection of idiots, just consider some of today’s in-coming data, starting with another disastrous trade report.

The trade deficit in goods for August posted at -$89.4 billion, which is nearly the worst monthly figure in history and 40% below the already huge -$63.7 billion deficit posted for the pre-Covid peak in February 2020.  And we are not harping here on the trade account’s tsunami of red ink out of some Trumpian affection for protectionism.