Donald Trump’s White House had grandly promised “90 deals in 90 days” after partially pausing the process of levying what the US president called “reciprocal” tariffs.
In reality, there won’t even be 9 deals done by the time we reach Trump’s first cut-off date on 9 July.
The revealing thing here, the poker “tell” if you like, is the extension of the deadline from Wednesday until 1 August, with a possibility of further extensions - or delays - to come.
Some “smart” people are very religious and don’t use a stove on the magic day to get to heaven.
In this case I think it’s more of a “the last economic crisis didn’t effect me so I’ll be fine or even profit if it happens again” situation. I get the sense that some of them even hope it’ll happen again to put the dregs back in their place. They don’t seem to be willing to acknowledge anything going on at a global scale to isolate the contagion of the United States economic and foreign policies. They can’t acknowledge the conventional agreed function of something as rudimentary as trade deficits, or the predictable outcomes of applying scattershot tariffs. They are totally delusional and I know they were taught this stuff in college even if they’re just PEG bros or lenders. It’s really fucking scary magical thinking that ignores some glaring lessons of history.