Where the Great Disrupter’s Trade War will ultimately take us is anybody’s guess, but it’s a far worse place than GOP apologists and Wall Street punters can even remotely imagine.
That’s because when it comes to trade, Trump is playing blind man’s bluff, poking his big fat tariff stick into an economic hornets nest called the Red Ponzi. The latter is the greatest financial house of cards in human history and the Donald’s hair-brained attack is about to generate an ugly twofer.
To wit, he’s heading for 10-25% tariffs on $517 billion of current Chinese imports to the US. That’s a literally insane maneuver which will hammer the pocketbooks of his red state constituents who frequent the aisles of Walmart et al—even as it sends China’s $40 trillion mountain of debt into a terminal tailspin.