INSIDE THIS ISSUE
T rade wars and tariffs... imports and exports... NAFTA, WTO, TPP... There’s no doubt the Donald Trump presidency has turned international trade on its head, but who are the real “winners” in a trade war? Are trade deficits and low tariffs a bad thing? And is a trade war victory worth the potential economic costs? This month, we’re digging beneath the Trump-China headlines to take a closer look at what really happens when countries battle over free trade. Editor in Chief P.J. O’Rourke starts us off by getting into the real meaning – and necessity – of international trade... shares an important economic rule you’ve probably never heard of... and takes a look at a 10-year bet against the “end” of the world. Former CIA analyst Buck Sexton explains how our nation’s independence was born out of tariffs and trade limits... RealClearMarkets’ John Tamny and the CATO Institute’s Ed Crane make a case for trade deficits and free trade in the era of Trump...
Former Australian prime minister Kevin Rudd examines how the Trump-China conflict could play out in 2019, while analyst Eric Wade weighs the possibility of a crypto comeback... Nobel laureate Robert Shiller warns that ignoring inflation can skew our views of prosperity and value in the economy... Agora founder Bill Bonner looks back on how “Mr. Market” treated investors this past year... And our resident anonymous Book Grump reviews and rips the latest best-selling business books. We’ve uploaded a PDF suitable for printing to our archive page. And tell us what you think at feedback@ americanconsequences.com. Regards, Steven Longenecker Publisher, American Consequences
Free trade encompasses many excellent principles. How many excellent principles human beings encompass is another matter. P.J. O’Rourke
4
January 2019
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