Author Archives: Menzie Chinn

Correlation or Causation?

We know that correlation does not necessarily mean causation. But sometimes you gotta wonder, especially as Mr. Trump’s administration is busily dismantling the CIA. First, GW Bush ignore the PDB of August 8, 2001, on “Bin Laden determined to strike in US”. Then Trump 1.0 eliminates the NSC directorate on pandemic preparedness before the Covid-19 pandemic (and apparently with the exception of Peter Navarro(!) ignores warnings about Covid).

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Soybeans, Again

You might well wonder why China didn’t retaliate against US soybean exports in the wake of Trump’s 10% tax on Chinese goods. Was it because heavy tariffs were already in place in response to the earlier Section 301 tariffs? No, given the Phase 1 of the trade deal (not that there was ever a Phase 2), tariffs were reduce. Here’s the current situation, from the National Corn Growers Association.

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