I began my career in financial markets in 1987, so it’s fair to say I’ve seen my share of wild rides in those markets and the real economy, but nothing comes even close to what we are witnessing today. This is not because of the scale of the volatility and damage caused to date – there has certainly been a lot worse over the Dow Jones’s long history.
Rather, what sets this period apart is that markets are responding to deliberate decisions made by the president of the world’s largest economy, who appears to understand neither the basic economic principles of trade, nor those of good policymaking process.
