Peter Principle

This Week In Blunders – March 30-April 6

“In a hierarchy, every employee tends to rise to his level of incompetence.” – Laurence J. Peter.

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Don’t worry about this week’s stock market crash, persistent inflation or the rising odds of a recession sparked by President Donald Trump’s chaotic tariff policies.

White House trade advisor Peter Navarro says life is going to be “beautiful.”

“The market will find a bottom. It will be soon, and from there, we’re going to have a bullish boom, and the Dow is going to hit 50,000 during Trump’s term,” he claimed on CNN today. “The S&P 500 is going to have a very broad based recovery, and wages are going to go up, profits are going to go up, and life is going to be beautiful here in America.”

Peter Navarro has more ego than brains, says Elon Musk. (Photo credit: Gage Skidmore, via Wikimedia Commons.)

Unfortunately, Navarro is a crackpot economist whose forecasts are often muddled with blind ideology, ridiculous conspiracy theories and dubious sources.

In his books, he quotes economist Ron Vara, who doesn’t even exist. He also quotes Leslie LeBon, who is simply his wife. Academics who make stuff up like this are typically dismissed – not elevated to senior counselor for trade and manufacturing to the president.