Understand WHY you want to know this. Maybe you are dealing with an ageing narcissist and feeling traumatised, because you are so tied into responsibility and duty to them. Or, perhaps you have been devastated by a narcissist, who seems to be having it all now, and you now wonder if the karma bus will strike as they age. This is normal … and TOTALLY understandable! But wondering and watching and still being hooked into the narcissist’s progress and results is SO not healthy for us. (I promise you very SOON you will understand WHY!) In today’s Thriver TV episode, I am excited to share with you the TRUTH about what is going on with narcissists as they age. And it’s my greatest desire that you will receive relief, closure and the added power to heal and move on into your True Self and True Life, as a result of today’s video. ⬇️
Protectionism is worse when it’s erratic and unpredictable.
The “very stable genius” in the Oval Office is, in fact, extremely unstable, in word and deed. That’s not a psychological diagnosis, although you can make that case too. It’s just a straightforward description of his behavior. And his instability is starting to have serious economic consequences.
To see what I mean about Trump’s behavior, just consider his moves on China trade over the past month, which have been so erratic that even those of us who follow this stuff professionally have been having a hard time keeping track.
First, Trump unexpectedly announced plans to greatly expand the range of Chinese goods subject to tariffs. Then he had his officials declare China a currency manipulator — which happens to be one of the few economic sins of which the Chinese are innocent. Then, perhaps fearing the political fallout from the higher prices of many consumer goods from China during the holiday season, which would result from the tariff hikes, he postponed — but didn’t cancel — them.
Wait, there’s more. China, predictably, responded to the new United States tariffs with new tariffs on U.S. imports. Trump, apparently enraged, declared that he would raise his tariffs even higher, and declared that he was ordering U.S. companies to wind down their business in China (which is not something he has the legal authority to do). But at the Group of 7 summit in Biarritz he suggested that he was having “second thoughts,” only to have the White House declare that he actually wished he had raised tariffs even more.
And we’re not quite done. On Monday Trump said that the Chinese had called to indicate a desire to resume trade talks. But there was no confirmation from the Chinese, and Trump has been a notably unreliable narrator of what’s going on in international meetings. For example, he made the highly improbable claim that “World Leaders” (his capitalization) were asking him, “Why does the American media hate your Country so much?”
To repeat, all of this has happened just this month. Now imagine yourself as a business leader trying to make decisions amid this Trumpian chaos.
The truth is that protectionism gets something of an excessively bad rap. Tariffs are taxes on consumers, and they tend to make the economy poorer and less efficient. But even high tariffs don’t necessarily hurt employment, as long they’re stable and predictable: the jobs lost in industries that either rely on imported inputs or depend on access to foreign markets can be offset by job gains in industries that compete with imports.
History is, in fact, full of examples of economies that combined high tariffs with more or less full employment: America in the 1920s, Britain in the 1950s and more.
But unstable, unpredictable trade policy is very different. If your business depends on a smoothly functioning global economy, Trump’s tantrums suggest that you should postpone your investment plans; after all, you may be about to lose access to your export markets, your supply chain or both. It’s also, though, not a good time to invest in import-competing businesses; for all you know, Trump will eventually back down on his threats. So everything gets put on hold — and the economy suffers.
One question you might ask is why Trumpian trade uncertainty is looming so much larger now than it did during the administration’s first two years. Part of the answer, I think, is that until fairly recently most analysts expected the U.S.-China trade conflict to be resolved with minimal disruption. You may recall that after denouncing Nafta as the worst trade deal ever made, Trump essentially surrendered and declared victory, settling for a new deal almost indistinguishable from the old one. Most economic newsletters I get predicted a similar outcome for the U.S. and China.
At the same time, the U.S. economy is slowing as the brief sugar high from the 2017 tax cut wears off. Another leader might engage in some self-reflection. Trump being Trump, he’s blaming others and lashing out. He has declared both Jerome Powell, chairman of the Federal Reserve Board, and Xi Jinping, China’s leader, enemies. As it turns out, however, there’s nothing much he can do to bully the Fed, but the quirks of U.S. trade law do allow him to slap new tariffs on China.
Of course, Trump’s trade belligerence is itself contributing to the economic slowdown. So there’s an obvious possibility for a vicious circle. The economy weakens; a flailing Trump lashes out at China, and possibly others (Europe may be next); this further weakens the economy; and so on.
At that point you might expect an intervention from the grown-ups in the room — but there aren’t any. In any other administration Treasury Secretary Steven Mnuchin, a.k.a. the Lego Batman guy, would be considered a ridiculous figure; these days, however, he’s as close as we get to a voice of economic rationality. But whenever he tries to talk sense, as he apparently did over the issue of Chinese currency manipulation, he gets overruled.
Protectionism is bad; erratic protectionism, imposed by an unstable leader with an insecure ego, is worse. But that’s what we’ll have as long as Trump remains in office.
The Epstein case is a reminder of the depraved milieu from which our president sprang.
On Monday, Donald Trump disinvited the then-British ambassador, Kim Darroch, from an official administration dinner with the emir of Qatar, because he was mad about leaked cables in which Darroch assessed the president as “insecure” and “incompetent.”
There was room at the dinner, however, for Trump’s friend Robert Kraft, owner of the New England Patriots, who was charged in a prostitution sting this year. Kraft was allegedly serviced at a massage parlor that had once been owned by Li Yang, known as Cindy, a regular at Trump’s club Mar-a-Lago. Yang is now the target of an F.B.I. inquiry into whether she funneled Chinese money into Trump’s political operation.
An ordinary president would not want to remind the world of the Kraft and Yang scandals at a time when Jeffrey Epstein’s arrest has hurled Trump’s other shady associations back into the limelight. Epstein, indicted on charges of abusing and trafficking underage girls, was a friend of Trump’s until the two had a falling out, reportedly over a failed business deal. The New York Times reported on a party Trump threw at Mar-a-Lago whose only guests were him, Epstein and around two dozen women “flown in to provide the entertainment.”
Epstein, of course, was also linked to the administration in another way. The president’s labor secretary, Alexander Acosta, was the United States attorney who oversaw a secret, obscenely lenient deal that let Epstein escape federal charges for sex crimes over a decade ago. On Friday, two days after a tendentious, self-serving news conference defending his handling of the Epstein case, Acosta finally resigned.
Even with Acosta gone, however, Epstein remains a living reminder of the depraved milieu from which the president sprang, and of the corruption and misogyny that continue to swirl around him. Trump has been only intermittently interested in distancing himself from that milieu. More often he has sought, whether through strategy or instinct, to normalize it.
This weekend, Trump National Doral, one of the president’s Florida clubs, planned to host a fund-raiser allowing golfers to bid on strippers to serve as their caddies. Though the event was canceled when it attracted too much attention, it’s at once astounding and not surprising at all that it was approved in the first place.
In truth, a stripper auction is tame by the standard of gross Trump stories, since at least the women were willing. Your eyes would glaze over if I tried to list every Trump associate implicated in the beating or sexual coercion of women. Still, it’s worth reviewing a few lowlights, because it’s astonishing how quickly the most lurid misdeeds fade from memory, supplanted by new degradations.
Acosta, you’ll remember, got his job because Trump’s previous pick, Andrew Puzder, withdrew following the revelation that his ex-wife, pseudonymous and in disguise, had appeared on an Oprah episode about “High Class Battered Women.” (She later retracted her accusations.)
Steve Bannon, Trump’s former chief strategist, was once charged with domestic violence, battery and dissuading a witness. (The case was dropped when his former wife failed to appear in court.) After Bill Shine, a former co-president of Fox News, was forced from his job for his involvement in Fox’s sprawling sexual harassment scandals, Trump hired him.
The White House staff secretary Rob Porter resigned last year after it was revealed that both of his ex-wives had accused him of abuse. The White House speechwriter David Sorensen resigned after his ex-wife came forward with stories of his violence toward her.
Elliott Broidy, a major Trump fund-raiser who became the Republican National Committee deputy finance chairman, resigned last year amid news that he’d paid $1.6 million as hush money to a former playboy model, Shera Bechard, who said she’d had an abortion after he got her pregnant. (In a lawsuit, Bechard said Broidy had been violent.) The casino mogul Steve Wynn, whom Trump installed as the R.N.C.’s finance chairman, resigned amid accusations that he’d pressured his employees for sex. He remains a major Republican donor.
In 2017, Trump tapped the former chief executive of AccuWeather, Barry Myers, to head the National Oceanic and Atmospheric Administration. Then The Washington Post discovered a report from a Department of Labor investigation into Myers’s company, which found a culture of “widespread sexual harassment” that was “severe and pervasive.” The Senate hasn’t yet voted on Myers’s nomination, but the administration hasn’t withdrawn it.
And just this week, a senior military officer came forward to accuse Gen. John Hyten, Trump’s nominee to be the next vice chairman of the Joint Chiefs of Staff, of derailing her career when she turned down his sexual advances. “My life was ruined by this,” she told The Associated Press. (The Air Force reportedly cleared him of misconduct.)
Trump will sometimes jettison men accused of abuse when they become a public relations liability. But his first instinct is empathy, a sentiment he seems otherwise unfamiliar with. In May, he urged Roy Moore, the theocratic Alabama Senate candidate accused of preying on teenage girls, not to run again because he would lose, but added, “I have NOTHING against Roy Moore, and unlike many other Republican leaders, wanted him to win.” The president has expressed no sympathy for victims in the Epstein case, but has said he felt bad for Acosta.
Trump seems to understand, at least on a limbic level, that the effect of this cavalcade of scandal isn’t cumulative. Instead, each one eclipses the last, creating a sense of weary cynicism that makes shock impossible to sustain.
It was just three weeks ago that E. Jean Carroll, a well-known writer, accused Trump of what amounted to a violent rape in the mid-1990s, and two friends of hers confirmed that she’d told them about it at the time. In response, Trump essentially said she was too unattractive to rape — “No. 1, she’s not my type” — and claimed that he’d never met her. That was a provable lie; there’s a photograph of them together. It didn’t matter. The story drifted from the headlines within a few days.
Since Epstein’s arrest, many people have wondered how he was able to get away with his alleged crimes for so long, given all that’s publicly known about him. But we also know that the president boasts about sexually assaulting women, that over a dozen have accused him of various sorts of sexual misconduct, and one of them has accused him of rape. We know it, and we know we can’t do anything about it, so we live with it and grow numb. Maybe someday justice will come and a new generation will wonder how we tolerated behavior that was always right out in the open.