+++. “Wooden-headedness consists of assessing a situation in terms of preconceived, fixed notions while ignoring or rejecting any contrary signs. It is acting to wish while not allowing oneself to be confused by the facts.”
[ Barbara Tuchman ]
Trumps’. Economic Ignorance
Beginning evidence for that unfortunate fact comes from “Real World Economics: Federal Reserve follies continue,” Edward Lotterman; St. Paul Pioneer Press; 8/31/25:
“The upshot is that we are $6.3 trillion, or 39.7%, above our pre-Covid bliss 4 1/2 years ago. So, in trying to force interest rates lower, Trump is demanding to further inflate an already historically high money supply even more. He is ignorant of †hat, but buyers and sellers of bonds and mortgage lenders understand it well. Trump doesn’t understand that markets, not Fed governors, are in the driver’s seat. Forcing overnight rates lower will drive long-term rates higher as inflation looms. No well-informed and sane person would want to go into the 2026 election with mortgage and medium-term farm and business loan interest rates rising, but our president seems hell-bent on that.”
Note: read the above again: “… Trump is demanding to further inflate…..He is ignorant of that…..Trump doesn’t understand…..No well-informed and sane person….seems hell-bent on that.”]
*** “A fool sees not the same tree that a wise man sees.” [ William Blake ]
*** “Where there is no vision, the people perish.” [ Proverbs 29: 18 ]
With Justice For All 