We all need to consider what that new normal will be and how to survive the transition.

Indeed.

After several days of careful reading and pondering since the tariff-o-rama, my main thought is that the tariffs are a sideshow. They are not really the important thing going on. Though there will be some entities hit very hard, it's mainly just about money, and money like water will find a way to flow a different way. Even if we don't know the new destination or how many won't quite make through the journey, there will still be a global business sector doing stuff.

I believe the bigger concern about the "new normal" is the geopolitical alignment issues. Some done, some happening, some announced, perhaps more to come if one believes Mr Bessent's writings. For example, there was a time that it was considered impolite to annex other countries' territory, but that seems well within the Overton window now. I don't think I would ever call that normal (new or not), but it seems to be the new...something.

Jim