alt Hacker NewsFrom the people in my life who talked about their preference for this administration, the economy was the core reason I heard. Specifically interest rates, but ignoring that that’s the federal reserve and the president has no impact on that.
Whatever - all that said, I can’t imagine this leads to an economic boom or anything near it by the midterms. Are the republicans going to lose midterms if the economy is shit? I’m not sure, but I can’t imagine this works out well. I’m no economist though, so what do I know.
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It's insane, because all those people have now backpedaled and no longer bring up the economy as their primary concern.
Also insane because all of this was so predictable. Trump couldn't stop talking about tariffs throughout all of 2024. It was obvious that he was going to do this, and obvious that it would tank the economy.
Hey, at least they were not alone. "Economy/cost of living" consistently polled as the number one issue for Trump voters.
It's fascism, reasoning with people won't work. The economy was the problem because Biden was in power. Now it's fine because trump is "doing what is needed and we all need to pay higher prices".
> “The Party told you to reject the evidence of your eyes and ears. It was their final, most essential command.”
Edit: poor formatting on mobile.
The “Liberation Day” tariffs aren’t random—they’re step one in a broader strategy called the Mar-a-Lago Accord (yes, named after Trump’s resort). Here’s the playbook from Stephen Miran’s framework and what’s likely next:
The Mar-a-Lago Accord Framework
1. Tariffs as Leverage
• Impose tariffs to force trading partners to revalue their currencies downward (making U.S. exports cheaper globally).
2. Currency Realignment
• Weaken the dollar to boost U.S. manufacturing (counteracting its “overvaluation”).
• Miran argues a weaker dollar would make imports pricier and exports more competitive.
3. Debt Restructuring
• Swap existing U.S. Treasury debt into 100-year “century bonds” to reduce interest payments.
• Foreign holders (like China/Japan) would “voluntarily” accept this to maintain U.S. security ties.
• Use tariff revenue to create a fund buying foreign currencies, artificially depressing the dollar.
• (Not implemented yet—still theoretical.)
—> You are here | Step 1 <—
The 10% baseline tariff + “reciprocal” rates (up to 50%) kickstart Miran’s plan by:
- • Generating revenue ($300B+/year) to fund future steps.
- • Forcing allies/adversaries to negotiate (or face higher costs).
- • Goal: Create chaos to pressure partners into accepting dollar devaluation and debt swaps.
1. The ̶C̶l̶o̶n̶e̶ Currency Wars
Expect Trump to accuse China/EU of “currency manipulation” to justify further dollar interventions.
2. Debt Shakeup
Pressure foreign Treasury holders (like Japan) to swap debt for century bonds. If they refuse? More tariffs.
3. Sector-Specific Tariffs
Pharma, lumber, and tech tariffs are likely next to “protect” U.S. industries.
4. Retaliation Escalation
Allies like Canada/EU will counter with tariffs, risking global recession.
The Perils Lying Ahead (Miran’s paper admits risks)
Miran’s paper admits risks:
• Tariffs might strengthen the dollar short-term (investors flock to USD safety), undermining manufacturing goals.
• Debt restructuring could trigger a Treasury sell-off, spiking interest rates.
"The Road goes ever on and on, Down from the door where it began. Now far ahead the Road has gone, And I must follow, if I can." - Tolkien
https://smithcapitalinvestors.com/wp-content/uploads/2025/03...
If we have something closely enough representing a "free and fair election", there's zero chance Republicans hold the House of Representatives in the mid-terms. But they'll still have the Executive branch, the Senate, and a frighteningly strong hold on the Judicial branch.
Though it seems clear and likely that any means of voter suppression that can be used against areas and demographics that traditionally lean strongly Democrat will be utilized, with a lot less checks and balances than have existed in the past.