In yesterday’s commentary, which was prepared earlier in the week, I proposed looking at the estimated tariff shock as equivalent to a new $2/gallon gas tax.
As new tariff announcements have been made through this week, however, that estimate now appears to be too low.
I am traveling to Leen’s Lodge for Camp Kotok next week. I paused yesterday in Bucksport, Maine, looking across the water at Fort Knox (a Civil War-era fort), to comment on the evolving tariff shock in a Kotok Quick Take.
As the great economist, philosopher, and sage Yogi Berra wrote on the baseball: “It ain’t over till it’s over.”
It’s not over. The Hormuz Hope Rally was problematic.
RFK Jr.’s policies and appointments do economic damage while they increase sickness and raise mortality. Details follow.
We can all follow the unfolding situation. Biased media reports range from extreme-right praise to extreme-left criticism. But one question is fundamental!
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