“for anyone who…says America use[s] its power only for selfish interest or foreign interests, let me ask you one simple question…Which countries would you rather live in? Those that were on America’s side or those on the other side? Would you rather live in North Korea or South Korea? In communist East Germany or democratic West Germany, in the Soviet Union or the United States? In Taliban controlled Afghanistan or US-led Afghanistan?…when you cut through all the noise, America fights for freedom.”
“Foreign manufacturers will have to lower their prices to accommodate tariff rates, Miran believes. If they don’t, then U.S. importers will turn to factories in other markets rather than absorbing the cost of tariffs themselves.
“We can move our demand across borders, but a factory can’t get up and move across borders,” he said.
You might say, his theory is that the customer is always right.
This line of thinking, a theme of his work since before he joined the administration, is an important way Miran’s reasoning diverges from that of most of his fellow economists. Critics point to examples — such as Trump’s tariffs on washing machines in his first term — where consumers seemed to be the ones who paid the price.
The question of who will bear the cost burden of import taxes is an important puzzle piece for gaming out how much inflation will rise and how much growth will slow. It is a particularly critical dilemma for the Federal Reserve, which is trying to decide when to ease off the decelerating economy.”
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“For this to work, foreign firms have to believe that, unless they capitulate, U.S. companies really will relocate their supply chains elsewhere, Miran told me. That’s one of the many tricky parts for proponents of Trump’s agenda — and Miran conceded as much.
“The truth is that for a lot of products, there’s not a credible alternative for a supply chain available instantaneously, right?” he said.
The recalibration, in other words, will take some time.
And that time could come at a price for the economy, as Trump’s shifting tariffs and fluid negotiations leave businesses hesitant to take action. If firms knew where tariffs would land, they could make investment decisions — on where to build factories, on what size workforce they need, on whether they need to change their business model. In the meantime, many executives are frozen in place, a paralysis that itself could take a bite out of growth.
Right now, manufacturers have been scaling back production as new orders dry up, and confidence in business conditions among CEOs collapsed during the second quarter at its fastest pace in roughly half a century.
Miran was straightforward about acknowledging that policy uncertainty is a challenge, repeatedly suggesting that there could be volatility — in growth, in prices — ahead.”
“China has a virtual monopoly in the sector, dominating the entire supply chain from the extraction of rare earths to their processing and the manufacture of permanent magnets.
According to the International Energy Agency, the country accounts for some 61 percent of rare earths extraction and 92 percent of refining. Moreover, it provides nearly 99 percent of the EU’s supply of the 17 rare earths, as well as about 98 percent of its rare earth permanent magnets. Global demand for these minerals is expected to increase by 50 to 60 percent by 2040.”
“the U.S. Department of the Treasury issued a three-page waiver lifting almost all economic sanctions on Syria unconditionally.”
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“the Syrian government handed back the old U.S. ambassador’s residence to Thomas Barrack, who serves as both U.S. ambassador to Turkey and special envoy to Syria.”
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“a waiver isn’t a permanent end to sanctions. The sanctions imposed by Congress have to be lifted by Congress…Secretary of State Marco Rubio testified to the Senate Foreign Relations Committee that it should do exactly that.”
“Iran is the most aggressive and dangerous totalitarian force of our time. Its leaders seek to weaken and destroy free society, democracy and human rights with Russian and Chinese support. In Iran, women are systematically oppressed and abused. Homosexuals are murdered. Those who think differently are imprisoned and tortured. In Tehran, the cynical abuse of the civilian population in Gaza as human shields is also cold-bloodedly conceived and financed.
According to official state doctrine, the primary goal of the mullahs in Tehran is the annihilation of the State of Israel. Ayatollah Khamenei has described Israel as a “cancerous tumor.” And clocks in the streets of Tehran celebrate countdowns to the “destruction of Israel.”
But Israel is only the first target. Once Israel falls, Europe and America will be the focus. Radical Sunni and Shiite Islamism has been preparing for this for decades. The fatwa against Salman Rushdie, 9/11, the attacks in Paris, the caliphate of ISIS — each event was a warning sign. Only those who did not want to see the signs are surprised today. The attacks are directed against our values, our way of life.”
One aspect of the Israel-Iran war is supply of missiles and missile interceptors. The U.S. and Israel have limited interceptors and build them slowly. Iran has a variety of weapons, but only have two-thirds of their ballistic missiles left (most of the gone one-third being destroyed on the ground).
Israel can’t destroy Iran’s nuclear program. Iran can just rebuild what Israel damages. Then what is the goal of Israel’s attack? Just to set back the nuclear program? Or, to keep killing commanders until a coup happens or someone is in charge who will agree to end the nuclear program?
The U.S. doesn’t have enough ammunition to supply Israel and Ukraine while also having the stocks to defend Taiwan. U.S. military industrial capacity is way too low.