Kevin Duffy on fixing America's economic problems and maintaining an empire

While America’s economic problems are fixable, American hegemony is ephemeral.  The U.S. can have guns or butter, but not both. 

President Trump is writing checks he cannot cash.  He can’t maintain an empire and reduce the size of government.  He can’t limit cheap imports and keep a lid on inflation.  He can’t manage trade from the top down and cultivate a free market from the bottom up.  He can’t bully the world and enjoy the privilege of printing the world’s reserve currency.

~ Kevin Duffy, "Mercantilism in America," The Coffee Can Portfolio, May 6, 2025