Right now our best and brightest pundits are trying to make us believe lots of things that just aren’t true:
1. That fiscal stimulus can work while the Fed is raising i-rates.
2. That trade deficits cost jobs.
3. That manufacturing has been hit by trade, not automation.
4. That monetary policy is ineffective.
Another another phony theme is that Trump won because he appealed to the “downtrodden voters”, which coastal elites like me don’t understand. That’s nonsense: