What Really Matters with Walter Russell Mead
The Consolidation of Trump's Power
Apr 10, 2025
Trump's trade policies are reshaping global power dynamics, weakening Russia's economy and impacting Apple's market value dramatically. The discussion highlights how tariffs complicate supply chains and consumer behavior amidst inflation. A recent meeting between Trump and Netanyahu raises questions about U.S.-Israeli relations and Middle Eastern stability. The conversation also delves into the literary styles of famous economists, illustrating how their writing enhances understanding of complex ideas.
51:30
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Quick takeaways
- Trump's tariff policies are significantly destabilizing Russia's economy, leading to potential financial crises and threatening the ruble's value.
- Apple's dramatic loss of market capitalization highlights the precarious relationship between domestic trade policies and the global operations of major corporations.
Deep dives
Trump's Impact on Russia's Economy
Donald Trump's trade policies, particularly his tariff strategies, have significantly affected the Russian economy by causing a sharp decline in oil prices. The value of Russian stocks has plummeted alongside a famed Russian export blend, Urals, which fell to nearly $50 per barrel—well below Russia's budget breakeven point. This economic downturn threatens Russia's fiscal stability and raises the specter of a currency devaluation for the ruble in the near future. Analysts in Russian media suggest that these developments pose serious challenges to the country's GDP and could catalyze a financial crisis.
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