I just finished listening to Lawrence Summers on ABC’s This Week. He concurred with many of the things I’ve been saying around here, particularly in my recent post, “It’s the Uncertainty, Stupid”. Those included:
- We shouldn’t have tariffs on goods imported from Canada, Mexico, and the EU.
- Tariffs are one among many factors affecting the low job growth of the last three months.
- Uncertainty is the broad umbrella description of those factors.
- Trump was wrong in firing the head of the BLS.
He characterized the president’s actions as “needless risks”, risking not just slow job growth but inflation.
He was silent on China which was quite discreet of him. I don’t think we have a choice but to reduce our imports from China. Our industrial base is already incapable of producing arms at the rates needed and that will only get worse.
