> The second order effects are a much more fertile territory for narrative creation. That’s because, as with any other policy, the second order effects of tariffs don’t lend themselves to the same kind of certainty as first order effects. They involve people and how they will respond and act. Any argument in favor of tariffs can only live in the world of second order effects.
https://www.epsilontheory.com/narrative-shopping/
There is no logic here, seeing depth in a shallow pond, is the same as staring at the emperor’s new clothes.
PS> I have seen young voters happy to see Wall Street, elites and older generations feel pain.
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