Subject: Unfashionable truth alert: Protectionism backfires
From: "Bloomberg View" <[email-masked]>
To: <[email-masked]>
Date: Fri, 26 May 2017 05:03:00 -0400 (EDT)

.footer .iOSLink a {       color: #666666 !important;       text-decoration: none !important;     }      @media only screen and (max-device-width: 480px) {       body {         padding: 10px !important;       }       .one-column p,       .one-column li {         font-size: 19px !important;         line-height: 29px !important;       }     }A daily digest of opinions and analysisLosing Faith in Free Trade Will Make Americans PoorerDonald Trump’s choice for U.S. trade representative, Robert Lighthizer, presents himself as a skeptic of “free-trade dogma,” and unsurprisingly, he’s got the support of Big Steel. But Ramesh Ponnuru warns that while raising trade barriers will help a handful of powerful, well-connected industries, it’ll leave most other Americans pinched.Solving Problems the Trump Way (It’s a Problem)That personal touch can work wonders for a real-estate developer. For a president under investigation? Maybe not so much. Biographer Tim O’Brien says Trump honed his grease-the-wheels approach over years angling for tax abatements and petty favors from local authorities — and is just now realizing he can’t treat the national security apparatus like a New Jersey casino regulator.Court Essentially Says Trump Lied in Travel BanA federal appeals court ruled against Trump’s travel ban yesterday — and more remarkably, said the ban “drips with religious intolerance, animus, and discrimination,” and that the president’s stated rationale was bogus. Harvard Law professor Noah Feldman marvels at an unprecedented rebuke, writing: “It’s extraordinary for a federal court to tell the president directly that he’s lying.”Guys, You Broke the Congressional Budget Office. Thank You!Okay, fine, so the headline numbers for Trumpcare don’t look so great (especially the 23-million-people-losing-insurance part). But Megan McArdle sees reason to take the CBO figures with a grain of salt: The plan gives so much authority to states, she says, it’s basically impossible for a federal agency to forecast what will happen.Before it’s here, it’s on the Bloomberg Terminal. Find out how the Terminal delivers information and analysis that financial professionals can’t find anywhere else. Learn more.Ritholtz’s ReadsThe world is running out of sand (The New Yorker)Robo-advisers battle Wall Street for rich investors (Bloomberg)“Anumeric” people: What happens when a language has no words for numbers? (The Conversation)(Read Barry Ritholtz’s full daily news roundup here.)Bloomberg GadflyTech startups are infatuated with not-IPOsOPEC’s weakest link isn’t who you think it isOff for a round of golf this weekend? Didn’t think so.(Read more from BV’s sister site for fast business commentary.)Bloomberg L.P. ● 731 Lexington Avenue, New York, NY 10022Web ● Facebook ● TwitterFeedback ● Unsubscribe

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