Listen Closely!

Listen closely to this 43-second video clip featuring Alan Greenspan. This should sound very familiar to clients and blog subscribers:



To quote the Chairman:

"Tariffs are a tax. And they're a tax not on your opponent, but on your own people; they pay the tax."

"Taxes are deflationary (i.e., they deflate economies). And so it was never true that somebody won a trade war."