Thank you Donald Trump for demonstrating, to the whole planet, that globalization, even full of imperfections, remained preferable to a trade war, carried out with plastic saber and capricious tweets. Thanks to you, dear Donald, we now know what it costs to play with customs duties.
It is true that by drew pricing walls everywhere, the global trade is slowing down. Inflation will point its nose, growth will run out of steam and the world has been completely allergic to economic borders. Losing. So this is the economic model that you promoted, dear Donald. So bravo! Prices are increasing, factories slow down their pace, companies slow down their investments and exporters howl in pain. And who is toast? Popular classes. Those that, dear Donald, you pretend to defend with great blows of red caps. But we are not going to blame yourself: you have just offered the world the best demonstration, by the absurd, of what serious economists have been trying to explain for 30 years.
But that’s not all. Professor Donald also gave a little surprise lesson on public debt. Little reminder of the facts. On April 9, our showman decided to postpone part of his customs duties (except on China). Not out of good soul, nor for the sake of economic strategy. It’s just that the bond market remembered him and put a slap for him. A huge slap. Clearly, interest rates on American debt have soared and that is the public debt which suddenly becomes a serious problem again.
Yes, an increase in interest rates can climb everything: business investment, household mortgage and growth. In short, dear Donald, you will have succeeded what few politicians have done before you: Explain the global economy with clarity But by fucking a monster bazaar. So really thank you for proving that the economy is serious. Thank you for recalling that public debt is not a monopoly game. And above all, thank you for demonstrating that even the President of the United States Can be corrected by a giant Excel table called bond market.
