by Bill Bonner
It is worse than “voodoo economics,” says former Treasury Secretary Larry Summers. It is the “economic equivalent of creationism.” Wait a minute – Larry Summers is wrong about almost everything. Could he be right about this?
[…] Summers is referring to the paper written by two members of Trump’s trade team: his pick for secretary of commerce, billionaire investor Wilbur Ross, and the director of Trump’s new National Trade Council, Ph.D. economist Peter Navarro.
It calls for a turn away from free trade and toward managed trade – or what is vaguely described as “fair” trade. Colleague Karim Rahemtulla, on an investment scouting trip in India and China, sends this note: