No political leader has broken rules and norms like President Trump but only because previous leaders refused to bravely declare that the emperor has no clothes. The list of upended conventions is long and still growing. Just this past week it was investors noting how economists have been wrong for predicting a recession this year due to tariffs.  Europeans are furious at their leaders for capitulating to Mr. Trump on trade only because they still lack an appreciation for how overly-dependent they had become on the U.S. for both national defense and trade built on unequal terms. They are still ignoring the advice of Mario Draghy on making their economies more competitive even as their welfare state falls apart as currently witnessed in...

TAGS – North America, Macroeconomics