What Trump is running out of the Oval Office is the world’s most blatantly obvious and lucative grift. One thing that is true about Trump besides his being a con man: he’s not a real tough guy either.

Jonathan Chait discusses how predictably Trump backs down from his threats when confronted or ignored. His bluster is all for show, as phony as his gilt and his “deals”:

When President Donald Trump launched his trade war on the world, he issued a stern warning: “Do not retaliate and you will be rewarded.” China ignored the warning. It was rewarded anyway. This morning, Trump largely suspended his trade war in return for nothing but promises of ongoing discussions. There is a lesson here for everybody Trump threatens, whether countries or businesses or universities.

The unveiling of the Trump global tariff regime was accompanied by a distinct form of dominance theater. The president and his gang assured his targets that if they submitted to his tariffs, he would repay their compliance. Any country that dared defy him would suffer terribly.