Justin Wolfers
👤 SpeakerAppearances Over Time
Podcast Appearances
And so the stakes aren't tens of billions.
The stakes are hundreds of billions.
and plausibly trillions.
And so therefore the stakes for the average, and no one is average, the average American household are thousands and plausibly tens of thousands of dollars.
So two things that you learn out of that.
One, big deal.
Two, keeping track of orders of magnitude is actually the most important skill here.
I can probably guess how many zeros are involved.
I can't, anyone who thinks they know what number is in front of the zeros is kidding themselves about how precise they can be.
Great pleasure, Ed.
Here's the reality.
I bought a T-shirt from Target.
I bought a T-shirt from Target.
I didn't pay the tariff directly.
I didn't pay the tariff directly.
Target imported the T-shirt.
Target imported the T-shirt.
Target paid the tariff.
Target paid the tariff.