Posted on 12/31/2025 9:48:20 PM PST by SeekAndFind
In an August 1 interview with Fox News, Peter Navarro, Director of President Trump’s Office of Trade and Manufacturing, argued that President Trump should get the Nobel Prize in Economics:
Basically, President Trump has taught an economic lesson to the world. In real time, in the real world, he’s taught that the biggest country and biggest market in the world can impose tariffs in order to address blatant cheating and do it in a way which increases the growth of the United States without inducing inflation… I never read that in the textbooks when I was getting my PhD in economics, but that’s the way the world works.
U.S. economists who predict numbers before their release were caught by surprise on December 23 when the Bureau of Economic Analysis (BEA) reported that the U.S. Gross Domestic Product (GDP) rose by 4.3% in the third quarter (July through September), much faster than the world’s other economies according to the Trading Economics website on 12/29/26:
Image created by authors using referenced data.
Even though GDP growth had been falling when Trump took office, it has been rising since, as shown by data published by the BEA:
Image created by authors using referenced data.
The BEA discussed the third quarter preliminary economic growth numbers in terms of the five components of GDP. The rise in exports and fall in imports provided the biggest boost:
(Excerpt) Read more at americanthinker.com ...
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That's just goofy. Inventories could increase in anticipation of increasing sales or a falloff in sales. They could decrease because of accelerated sales. And so on. It's a lousy metric.
Actually, if we read textbook on international trade, at least 2 Nobel Prize winners in Economics have already provided the theoretical framework for it. First is Ribert Mundell, and second the leftist darling Paul Krugman.
Mundell theory specifically divide the treatment for small countries that cannot dictate prices and large countries that can.
Krugman talks about how large countries need to expand the economic of scale and their abilities to influence other countries by various mean, including tax policies.
Journalists and not so well-informed economists or those who are well informed but hate it never mentioned abouy it.
Even Krugman has to argue that theory is different from reality when being questioned about his inconsistencies.
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