In a recent Substack post, Timothy Snyder identifies a core weakness of President Trump that weakens America: his belief that everyone is ripping him off, or trying to unless he gets them first. It’s a zero-sum game.
This fueled his apparently long-held belief that a trade deficit is bad and tariffs are the solution, which led him to launch a trade war with virtually every country on the globe. Only the rising interest rate on 10-year Treasury notes prompted him to pause before we saw economic Armegadden.
Snyder’s article inspired me to write my Congressional representatives in Washington. I don’t expect to change their opinions, but I felt better hitting “send.”
Historian Timothy Snyder points to President Trump’s core vulnerability: He always thinks everyone is trying to rip him off. This deep-seated irrationality focused on the balance of trade caused the maelstrom around tariffs. Only the rising rates on 10-year Treasury notes prompted the president to largely retreat — except for tariffs on China, which won’t kiss the president’s ring.
Other than keeping reporters and cable and podcast pundits busy, the outcome of this insanity will be higher prices for consumers.
In a recent Substack article, Snyder writes, “We have thousands of years of political theory and indeed great literature to instruct us on this point: too much power brings out the worst in people — especially among the worst of people. As the founders understood, the purpose of the rule of law, of checks and balances, of regular elections, is to prevent precisely such a situation. Allowing our republic to be compromised has many costs, for example to our rights, and to our dignity. But it also has costs in a very basic economic sense. When you elevate the mad king, you elevate the madness.”
Are you willing to enable four years of madness?