TARIFF TEST

By Econ70 | 04/03/2025 |

Tariff totals Trump 1.0 boosted tariffs from 1.2% to 3.2%. Yesterday, he boosted the average tariff on US imported goods to 24%, higher than the disastrous 1930 Smoot-Hawley Tariff Act, and international trade is proportionally 3x larger than then. The new tariffs are the ratio of our trade deficit in goods with a nation divided…

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TOTAL TARIFFS

By Econ70 | 04/02/2025 |

Earlier today, President Trump imposed tariffs on the vast majority of imports entering the US. Retaliation from Canada, China, the EU, and other nations is now guaranteed. This trade war will reduce trade, raise prices, increase unemployment, and weaken economic growth. It will, regrettably, not meaningfully reduce the trade deficit. I wish this focus on…

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BITCOIN BONANZA

By Econ70 | 04/01/2025 |

In a brilliant move to increase transparency and worker productivity, the IRS will now allow payment of income taxes with Bitcoin, joining other nations including El Salvador. This move will cement the US as a crypto powerhouse, bring riches to all Americans, and reduce inflation. For tax purposes, the value of Bitcoin will be determined…

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