Tornado Alley (PROG)

[janice shell]

UGH. Stephen Miran sounds like trouble. Perhaps B4 will stop blaming me.

Trump’s new chair of the Council of Economic Advisers, Stephen Miran, wrote a lengthy paper .. https://www.hudsonbaycapital.com/documents/FG/hudsonbay/research/638199_A_Users_Guide_to_Restructuring_the_Global_Trading_System.pdf , A User’s Guide to Restructuring the Global Trading System, shortly before his appointment. The latter is particularly ambitious – detailing how the US should use not only tariffs but also the threat of withdrawing its security support to compel its friends and allies to accept cuts in payments due from the Federal Reserve on their US Treasury bills. This would be a potentially massive loss to them, akin, in reality, to a US debt default. But it is tariffs that are the cutting edge of the plan – leveraging the US’s power as the world’s largest consumer and greatest debtor to compel other countries into a negotiation on terms.
https://www.theguardian.com/commentisfree/2025/apr/07/donald-trump-world-economy-shock-us