News Story of the Day: what the heck is wrong with President Donald Trump?
On Friday morning, the president sent out this tweet:
When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win. Example, when we are down $100 billion with a certain country and they get cute, don’t trade anymore-we win big. It’s easy!
— Donald J. Trump (@realDonaldTrump) March 2, 2018
The comment helped the Dow Jones futures shed 200 points as he moved ahead with his initial threat.
Trade wars are never a good thing. And, once again, he is referring to the trade deficit. Who cares about the trade deficit? We all have some form of trade deficit in our day-to-day lives.
His decision to slap 25 percent tariffs on steel and 10 percent on aluminum is such a bad idea. He hasn’t learned anything from his predecessors who did exactly the same thing. This has definitely been one of the worst weeks of his administration.
Chart of the Day: the Pentagon spends approximately $370 million per year funding high schools as part of its Junior Reserves Officer Training (JROT) programs. It’s suiting up the next generation of soldiers who will fight and die in senseless wars half way around the world. Here is the chart courtesy of The Economist:
Illustration of the Day: so, President Donald Trump is interested in confiscating guns across the U.S. and circumvent due process. Well, Ron Paul had a warning about the power of the government, an armed citizenry, and the principles of liberty:
Quote of the Day: what would legendary economist Milton Friedman think about President Trump’s latest announcement? He wouldn’t be pleased.
This carries over to the terminology we use. When people talk about a favorable balance of trade, what is that term taken to mean? It’s taken to mean that we export more than we import. But from the point of view of our well-being, that’s an unfavorable balance. That means we’re sending out more goods and getting fewer in. Each of you in your private household would know better than that. You don’t regard it as a favorable balance when you have to send out more goods to get less coming in. It’s favorable when you can get more by sending out less.
Tweet of the Day: you may think that Canadian Prime Minister Justin Trudeau is a fool (peoplekind, budget will balance itself, it’s 2015), but he is a dangerous fool who is infatuated with dictators, autocracies, and tyrants. The Canadian Ron Paul, Maxime “Mad Max” Bernier,” had this to say about it:
.@JustinTrudeau family’s admiration of tyrants like Fidel Castro and Mao Zedong is simply REPUGNANT. #cdnpoli https://t.co/vqorIX0d0s
— Maxime Bernier (@MaximeBernier) March 1, 2018
Video of the Day: want to see Jordan Peterson in person? He will be in 12 cities from March to June to discuss his epic book “12 Rules for Life.” From someone who has read the book, it certainly is a compelling read. Here is the announcement:
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