Unfortunately The Economist is paywalled but here is a summary of their scathing front cover March 8th issue takedown of the Orange Menace.

"Donald Trump’s economic delusions are already hurting America."

The expertly informed piece accuses Trump of painting a "fantastical picture" of his plans during his speech to Congress by claiming that his ill-conceived tariffs will "preserve jobs, make America richer still, and protect its very soul."

"Unfortunately, in the real world things look different," the article reads. "Investors, consumers and companies show the first signs of souring on the Trumpian vision. With his aggressive and erratic protectionism, Mr Trump is playing with fire."

In reality, the tariffs have caused an immediate and dramatic downturn in the stock market and spiked consumer prices. Trump is already scrambling to backtrack by delaying the 25% tariffs on Mexico and Canada — although he has yet to abandon them completely.

The Economist (whose pieces are run without the names of their authors attributed) bluntly states that by imposing his disastrous tariffs, Trump is "setting light to one of the world’s most integrated supply chains" and it's becoming clear that policy is "set on the president's whim."

"That will cause lasting damage at home and abroad," it says.

It goes on to say that the hopes for an economic Golden Age are "going up in smoke" as MAGA oligarch Elon Musk's DOGE causes "chaos" and the Republican budget blueprint adds "trillions to the national debt."

Despite Trump insisting that he would usher in a booming economy, The Economist warns that "the markets are flashing red."

"The S&P 500 has given up nearly all its gains since the election. Although economic growth remains fair, in recent weeks the yield on ten-year Treasuries has fallen, measures of consumer sentiment have plunged and small businesses’ confidence has slipped, hinting at a slowdown to come," the article reads. "Meanwhile, inflation expectations are rising, perhaps because Mr Trump is talking about all those wonderful new tariffs."

It goes on to criticize Trump for ignoring inflation and his claim that "the economic harm from tariffs is worth it." Tellingly — the magazine points out — Trump is not constantly posting on social media about the stock market like he during his first term. Clearly, he knows the situation is dire.

The Economist then shifts its attention to Trump's inner circle, stating that his Treasury and Commerce Secretary are failing to rein Trump in, making them "come across as stooges."

"For some reason, Mr Trump reserves special hostility for Canada and the EU. Because his approach lacks any coherent logic, there is no knowing how to avert his threats," the piece continues.

"The world economy is at a dangerous moment. Having defied reality (and the constitution) after he lost the election in 2020, only to be triumphantly re-elected in 2024, Mr Trump has no patience for being …
#MAGA #USA #tarriffs