We suspect many of our readers may have a passing familiarity with the work of Olivia Rodrigo. That’s not because we are popular with her fan base, but rather because we suspect many of our readers may live in close proximity to teenage girls. That’s certainly the case for TFTD, and yours truly was struck by how well the talented Ms. Rodrigo seemed to understand the problems of both pubescent girls dealing with first love, and senior WH officials as they deal with the collateral damage associated with their policies.
“I didn’t mean it, baby
I didn’t think it all through
I didn’t mean it, baby
Always ruin good things like you”
Last week’s TFTD “Motivated Perception” discussed the possibility that the Administration might perform a volte-face and walk back some of the tariff proposals which have caused markets to go into a tizzy. This week, markets have traded as if the WH had indeed changed its mind. Why would the WH do that?