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Columnist blames Trump's tariffs for new inflation wave

Jonathan V. Last argues Trump's tariff policy deliberately created price increases after inheriting a stable economy.

newest coverage 11h agosummary written 4d ago11 pieces802 likes & upvotes36 comments NewswiresBlueskyMastodon

What to know

  • Trump campaigned on tariffs as an inflation-fighting policy but economists warned they would raise prices; current inflation appears to validate those warnings.
  • Last distinguishes current 'moronic inflation' from pandemic-era demand-pull inflation, arguing this spike resulted from deliberate policy choice rather than supply or demand shocks.
  • The column accuses voters of ignoring expert consensus and choosing policies that predictably created economic harm.

“This is inflation caused not by either a supply shock or a demand shock, not by war, or pestilence, or collapse. It was caused by choice.”

Jonathan V. Last, Columnist · The Bulwark ↗

Donald TrumpDonald Trump PresidentJonathan V. Last Columnist, The Bulwark

Columnist blames Trump's tariffs for new inflation wave
thebulwark.com

How it unfolded 1 development · click the chart to see its coverage articlesposts

Peak 3 pieces in one hour at Oct 9, 12 PM; 11 pieces over 5 days (2 articles · 9 posts) Oct 9, 12 PM — 3 pieces · 2 articles · 1 post — Bluesky 1, Mastodon 1, Newswires 1Oct 9, 1 PM — 1 piece · 1 post — Bluesky 1Oct 9, 2 PM — quietOct 9, 3 PM — quietOct 9, 4 PM — quietOct 9, 5 PM — quietOct 9, 6 PM — quietOct 9, 7 PM — quietOct 9, 8 PM — 2 pieces · 2 posts — Bluesky 1, Mastodon 1Oct 9, 9 PM — quietOct 9, 10 PM — quietOct 9, 11 PM — quietOct 10, 12 AM — quietOct 10, 1 AM — quietOct 10, 2 AM — quietOct 10, 3 AM — 1 piece · 1 post — Mastodon 1Oct 10, 4 AM — quietOct 10, 5 AM — quietOct 10, 6 AM — quietOct 10, 7 AM — quietOct 10, 8 AM — quietOct 10, 9 AM — quietOct 10, 10 AM — quietOct 10, 11 AM — quietOct 10, 12 PM — quietOct 10, 1 PM — quietOct 10, 2 PM — quietOct 10, 3 PM — quietOct 10, 4 PM — quietOct 10, 5 PM — 1 piece · 1 post — Bluesky 1Oct 10, 6 PM — quietOct 10, 7 PM — quietOct 10, 8 PM — quietOct 10, 9 PM — quietOct 10, 10 PM — quietOct 10, 11 PM — quietOct 11, 12 AM — quietOct 11, 1 AM — quietOct 11, 2 AM — quietOct 11, 3 AM — quietOct 11, 4 AM — quietOct 11, 5 AM — quietOct 11, 6 AM — quietOct 11, 7 AM — quietOct 11, 8 AM — quietOct 11, 9 AM — quietOct 11, 10 AM — quietOct 11, 11 AM — quietOct 11, 12 PM — quietOct 11, 1 PM — quietOct 11, 2 PM — quietOct 11, 3 PM — quietOct 11, 4 PM — quietOct 11, 5 PM — quietOct 11, 6 PM — quietOct 11, 7 PM — 1 piece · 1 post — Bluesky 1Oct 11, 8 PM — quietOct 11, 9 PM — quietOct 11, 10 PM — quietOct 11, 11 PM — quietOct 12, 12 AM — quietOct 12, 1 AM — quietOct 12, 2 AM — quietOct 12, 3 AM — quietOct 12, 4 AM — quietOct 12, 5 AM — quietOct 12, 6 AM — quietOct 12, 7 AM — quietOct 12, 8 AM — quietOct 12, 9 AM — quietOct 12, 10 AM — quietOct 12, 11 AM — quietOct 12, 12 PM — quietOct 12, 1 PM — quietOct 12, 2 PM — quietOct 12, 3 PM — quietOct 12, 4 PM — quietOct 12, 5 PM — quietOct 12, 6 PM — quietOct 12, 7 PM — quietOct 12, 8 PM — quietOct 12, 9 PM — quietOct 12, 10 PM — quietOct 12, 11 PM — quietYesterday, 12 AM — quietYesterday, 1 AM — quietYesterday, 2 AM — quietYesterday, 3 AM — quietYesterday, 4 AM — quietYesterday, 5 AM — quietYesterday, 6 AM — quietYesterday, 7 AM — quietYesterday, 8 AM — quietYesterday, 9 AM — quietYesterday, 10 AM — quietYesterday, 11 AM — quietYesterday, 12 PM — quietYesterday, 1 PM — 2 pieces · 2 posts — Bluesky 1, Mastodon 1Yesterday, 2 PM — quietYesterday, 3 PM — quietYesterday, 4 PM — quietYesterday, 5 PM — quietYesterday, 6 PM — quietYesterday, 7 PM — quietYesterday, 8 PM — quietYesterday, 9 PM — quietYesterday, 10 PM — quietYesterday, 11 PM — quietToday, 12 AM — quiet 1
Oct 10Oct 11Oct 12yesterdaynow · 1:47 AM ET
  1. 1

    Last coins term 'moronic inflation' to describe tariff-driven price surge

    Jonathan V. Last published analysis in The Bulwark distinguishing the current inflation from pandemic-era inflation, calling it 'moronic inflation' because it resulted from deliberate policy choice rather than supply or demand shocks. He argues Trump's tariffs did exactly what experts predicted.

    “Handed a healthy economy, Trump imposed his tariffs and they did exactly what the so-called 'experts' said they'd do: Dampened economic activity while increasing prices.”
    — Jonathan V. Last
    • thebulwark.com

      Trump effectively ran on both slashing and spiking inflation. He came through on one of those.

      thebulwark.comBluesky2d ago177▲view on Bluesky ↗
    2 more of the top 3 · 9 posts in this stretch

    • "The only explanations I can think of are pure deficiency of cognitive ability; a pathological drive for self-mutilation; or a pervasive decadence/nihilism in which American society either believed itself immune from consequences."

      bulwarkonline@threads.netMastodon3d agoview on Mastodon ↗
    • thebulwark.com

      "A political candidate promised to do things that would create inflation; voters chose his program against the warnings of 'experts'; inflation resumed. Moronic inflation."

      thebulwark.comBluesky4d ago170▲view on Bluesky ↗
    all of them →
  2. background

    Trump imposes tariffs; inflation resumes — After taking office with a healthy economy in place, Trump implemented his promised tariffs. Economists' warnings about the policy proved accurate: tariffs dampened economic activity while raising prices.

  3. background

    Trump wins second presidential election — Donald Trump was elected president after campaigning on sweeping tariff policies that he promised would fight inflation and lower prices.

  4. background

    Pandemic-driven inflation peaks and begins to recede — Demand-pull inflation from COVID-related supply shocks and stimulus spending peaked around September 2022 and declined as global supply chains reorganized. By spring 2024, consumer goods price growth had normalized.

Also covered reported alongside — the timeline has no entry for these yet

  1. 2 outlets The Experts Were Right: Trump’s an Economic Moron

    first by Mastodon, 4d ago · also The Bulwark

What people are saying 2 voices from 1 site · best of 9 · verbatim