Originally published at: A Few Notes on Trump’s Abject, Humiliating and Maybe Not Even Accomplishing Much Cave - TPM – Talking Points Memo
Most of what happened today is obvious. And I’m no expert on macro- or international economics. But allow me a few observations. Start with the obvious: Trump rolled out an absurd policy which on its own terms would need to be held to for years to have any hope of success. After repeated pledges never…
Third alternative. Enough of the world realized that Treasuries were a prime pressure point on Trump both because of the effect on domestic financing but also because of how humiliated he would be if the US lost its status as the prime reserve currency in his watch.
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