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.
We offer several views, including mine, on the theme of gold, money, and policy. Special thanks to Chris Whalen (The Institutional Risk Analyst) for his interview and to Lyric Hale (econVue) for her essay.
Twenty-five years since 9/11, I reshare my personal reflections from September 11, 2002 and how lucky I am to be alive.
Political dysfunction, Producer Price Index for intermediate demand, and canoe views of Grand Lake Stream, Maine.
The Trump honeymoon with Warsh is over. I add my view after sharing two other perspectives, from Jacob Frenkel and Bill Nelson.
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