Andrew Heaton, in his latest newsletter, explains why he’s finally come down on the side of impeaching President Trump:
Okay, here’s the main thing I wanted to talk to you about: America is about to slap a TWENTY-FIVE PERCENT tariff on scotch. The underlying story involves the WTO and Airbus, but I think I can save everybody a lot of time by pointing out that our president is a mouthbreathing protectionist who’s too lazy to read Adam Smith’s wikipedia page.
Here are a few things to consider:
- Tariffs are just taxes, designed to punish you for having the gall to buy something from a foreigner.
- This will hurt Scottish distillers, and potentially price out distillers with low profit margins.
- I might have to switch to wine on dates.
- We have now spent more money needlessly bailing out farmers from a trade war with China than we did bailing out banks under Bush.
- We’ve known about the idiocy of tariffs since The Wealth of Nations came out in 1776.
- Trump, a man lacking an ideological core, for reasons which boggle the mind, seems to genuinely believe tariffs and protectionism are good things, as he has maintained since the 80s.
Chances are if you subscribe to this newsletter you’re not a teetotaler, but on the off chance you are, allow me to make a case against whisky taxes even if you are not personally apoplectic about a tax hike on Laphroaig. (A concoction personally invented by Almighty God. It’s like you’re drinking a campfire. Try it.)
There’s an old saying: when goods don’t cross borders, armies do. I concur with this. In fact my largest contribution to the field of economics (Nobel Prize forthcoming) is Heaton’s Peace Through International Mistresses Theory.My groundbreaking idea is that we want to have an interconnected, global economy with lots of transnational trade, because businessmen will be less supportive of bombing cities their mistresses live in. When trade wars happen, international trade collapses, and suddenly businessmen are flying to Berlin and Paris a lot less. Pretty soon we’re firebombing Tokyo.
It would probably be more appropriate of me to dedicate my political analysis to the forthcoming Ukraine/Trump/Biden/Impeachment circus which will dominate our lives for the next few months. However in my case I don’t need to. The president has messed with my scotch. Now it’s personal. I’m all in.
Impeach the guy.
#FreeTrade
You can subscribe to Andrew’s email newsletter here.
