Tariffs Won’t Kill The Market; The Fed Will

“Always tell the truth.”

In addition to being number eight on the Top 10 list of things we should always do, being truthful is just a great way to avoid trouble in life.

You never have to remember what lie you told to whom, and you never have to make up more lies to cover those you’ve already put out into the universe.

But we don’t.

I don’t know a single person who is completely honest. And this goes way beyond, “Do these clothes make me look fat?”

We lie about all manner of things, typically justifying our indiscretions by pointing out that they don’t harm anyone, or that it would be worse to tell the truth, or some other version of “someone else made me do it.”

I think trade tariffs and other barriers work the same way.

We should always engage in free trade. By doing so, domestic companies that are the best in their fields sell more stuff, be it to local consumers or those in other countries.

Every nation and region gets to focus on what they do best, which theoretically provides the best goods at the lowest costs to all consumers, raising everyone’s standard of living.

This only works if everyone approaches trade in good faith. But no one does.

Nations work to protect politically sensitive industries and those related to national security.

And that’s before we get to bad actors.

“Always tell the truth.”

In addition to being number eight on the Top 10 list of things we should always do, being truthful is just a great way to avoid trouble in life.

You never have to remember what lie you told to whom, and you never have to make up more lies to cover those you’ve already put out into the universe.

But we don’t.

I don’t know a single person who is completely honest. And this goes way beyond, “Do these clothes make me look fat?”

We lie about all manner of things, typically justifying our indiscretions by pointing out that they don’t harm anyone, or that it would be worse to tell the truth, or some other version of “someone else made me do it.”