Don't Understand Trump?

Lessons clearly haven’t been learnt from Trump 1.0…

I’m not sure what it is about Trump’s uniquely chaotic style that brings out the breathless hyper-ventilators, but the media coverage over this past week has made it clear that the chattering class STILL doesn’t want to ‘understand’ Trump or even try to figure out what he’s up to.

They’re making all the same mistakes as before, including taking him literally, and believing that he’ll do exactly what he says.

BMO even updated their forecasts for the Canadian economy to include an extra 100bps of cuts from the Bank of Canada (due to zero growth, recession risks and an 8% unemployment rate driven by tariffs).

While this may have been a good guess if tariffs had actually been implemented, it all looks a little silly now that the shortest ‘trade war’ in history has been resolved…

One key takeaway from the past week is to not take Trump literally.

Although we definitely need to take him seriously

To explain this, we need a Trump framework…

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