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Cake day: June 10th, 2024

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  • In a sense that’s true for any country, though. The only differences are (1) how often the policy changes and (2) by how much. US used to have a 4-year cycle and much less variance in the policies and so it made some sense to get into long-term agreements. Even in the last 8 years, agreements reached by Trump were continued by Biden (e.g. NAFTA). Now though the cycle is like 4 days and the policy swings are 180°, so it only makes sense to enter into extremely short-term, transactional agreements, or if you have no other choice (like Ukraine).