Source: The Dispatch
by Jonah Goldberg
“John Maynard Keynes famously said, ‘Markets can remain irrational longer than you can remain solvent.’ The point being that, even if you’re right about where the stock market is bound to go eventually, the market doesn’t have to follow your route or timetable in getting there. Since ‘Liberation Day’ last week, when the U.S. announced punishing new tariffs on just about every country in the world, a lot of Americans are learning a corollary to Keynes’[s] maxim: Donald Trump can stay irrational longer than you can remain solvent. … The markets are not merely saying that Trump’s policies are bad for stock prices or corporate profits. They are saying to other politicians and policymakers, ‘We’re not going to save you from Trump’s irrationality.’ That realization is starting to dawn on some Republicans who bought the preposterous idea that Trump has a mandate to unilaterally and irrationally bend the international economy to his will.” (04/09/25)
https://thedispatch.com/article/its-time-for-republicans-to-listen-to-the-markets-not-trump/