Director of International Economics, CFR. Award-winning author, THE WORLD THAT WASN'T, THE MARSHALL PLAN, & THE BATTLE OF BRETTON WOODS. Next HC of NYJ.
New York City
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Peter Navarro - yes, Peter Navarro - explains why intermediate-goods imports are good.
He doesn't explain why the Trump administration tariffs them anyway.
Look under the hood of the U.S. trade deficit in August, and you’ll see that America is importing less of the foreign-made stuff that takes American jobs and more of the stuff that creates American jobs.
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How did globalization produce $22 burritos?
Vance: "If you are trying to undo 40 years of globalization, it's going to take time to fix that. You have a few tone deaf Republicans who say, 'Shut up if you're pissed off about a $22 burrito.' My response to that is... No. Listen to people who are upset with the state of the economy."
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The Global Order: my interview with @EllisItems
open.substack.com/pub/newsit…
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Is Bessent right that we can "grow our way" out of debt?
My latest @CFR_org Geo-Graphics post with former ECB analyst Yuma Schuster . . .
cfr.org/articles/can-we-grow…
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Is Bessent right that we can "grow our way" out of debt problems?
My latest @CFR_org Geo-Graphics blog post with Yuma Schuster . . .
cfr.org/articles/can-we-grow…
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The president's modus operandi with difficult problems - with China, with North Korea - is just to let them get worse and celebrate the fact that he fixed them.
He hung communist China flags on White House
He rolled out the red carpet for Xi
He praised Xi’s looks and said his wife’s “beautiful”
He offered to sell weapons to China
He got nothing but two pandas
But in July he held an emergency primetime address to the nation about the grave threats from China…
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Benn Steil retweeted
Brendan O’ Neill sums up all the discussion surrounding Israel vs Ireland on Sunday night.
Every word. Nailed it.
“There is no way to explain this mania and hypocrisy…”
🎯🎯🎯
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Benn Steil retweeted
Trump in 2015: I would not be throwing Xi Jinping a dinner. I would get him a McDonald's hamburger and say 'we have to get down to work.' We're giving him a state dinner and what he has done is sucked all of our jobs.
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Benn Steil retweeted
Francesca Albanese accusa la NATO – non la Russia – di tenere aperta la guerra in Ucraina, chiede di togliere le armi a Kyiv e, quando arriva il momento di spiegare come fermare la guerra, ammette: «non ce l’ho la soluzione».
Quindi l’aggressore resta armato, l’aggredito no e la colpa se la guerra continua è della NATO.
Una narrazione colonialista, complottista e perfettamente sovrapponibile alla propaganda russa. Da una relatrice speciale dell’ONU è davvero agghiacciante.
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This administration has not only obliterated the core principles of liberal democracy, but is operating at a level of dignity below that of the most base banana republics.
The Department of War fully supports President Trump’s decision to kick CNN, MSN̶B̶C̶NOW and Politico to the curb so they can publish their Fake News from outside the White House.
We are grateful these outlets already chose to self-deport from the Pentagon. They endangered our troops with false stories, leaks, and trafficked in fiction and lies about the President, our Warriors, and their mission.
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Benn Steil retweeted
I have written eleven opinion pieces for The New York Times across 35 years. I still read it. I write what follows with no joy: while I have watched it become increasingly partisan in its news coverage over the decades, no topic has made its loss of balance clearer to me than its handling of Israel since October 7.
This week the Times published a sentence suggesting that Israeli victimhood over the 2023 Hamas terror attack was not a fact, but a "matter of perception." It only added an Editors' Note after furious backlash, much of it here on X. I have written corrections myself. A sentence like that doesn't slip past a reporter, an editor, and a copy desk by accident. The underlying problem is that it did not set off an alarm until readers outside the building made noise.
And that was simply the latest example. In May, the paper's Opinion section ran a column alleging Israeli forces used dogs to rape Palestinian detainees, built on sourcing no other serious outlet had corroborated. The Times's own executive editor later said the newsroom "wouldn't have done that exact piece."
Now there's data behind the pattern. A peer-reviewed Yale study of 1,559 Times articles on the war found the word "Israel" appeared more than three times as often as "Hamas," and that 1,423 of those articles mentioned neither Israeli casualties after Oct. 7 nor Hamas combatants killed in the war.
"Paper of record" was never a hereditary title. It was a claim about earned trust. I am not sure anyone still believes it.
My full article at Just the Facts: justthefacts.media/p/the-pap…
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The words "capital account SURPLUS" are nothing more than fancy words for "current account DEFICIT".
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Benn Steil retweeted
UC exceptional after redefining excellence.
I thought the tweet below must be omitting some critical context or paraphrasing the text ungenerously.
But no, the NYT actually published an op-ed that claims the University of California hasn't sacrificed excellence even though it admits students who struggle with basic math.
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