Economist Paul Krugman explains that Trump's promise of growth in the US auto industry is directly contradicted by his tariffs; also Krugman draws a sad parallel between the US and burning to death in one of Tesla's suddenly unpopular EVs.
Formerly of the New York Times, Paul Krugman has shifted to publishing his own work. This is right on:
I don't know who first came up with this metaphor, but it seems to me that America is now trapped in a burning Tesla. If you don't know this, the doors on Musk's cars are designed to open electronically; if they have manual releases at all, they're difficult to get at and use. As a result, there have been multiple instances of people burning alive inside Teslas when the engines catch fire.
Well, large parts of the U.S. economy and government appear to be on the verge of self-immolation. And given the combination of arrogance and ignorance shared by Musk and Trump, it's hard to see how we get out.
Krugman also describes the North American automotive industry as free trade agreements had, until the recent tariffs, essentially created a continent-spanning production system. Trump's willy nilly, on and off again trade war with our two neighbors is going to wreak havoc across many industries. This throws all three countries into economic disarray, and whatever solutions our former partners find, you can be assured they'll be less inclined to work with the United States again.
Previously:
• Tesla Fire tracks the company's spontaneous combustion problem
• Tesla bursts into flames on highway, leaving nothing but metal debris behind (photos)
