Article
Comment
Economics
Politics
Trust
5 min read

Tariffs destroy trust so where do we go next?

Blunt weapons cause a mess in markets and lives.

Paul Valler is an executive coach and mentor. He is a former chair of the London Institute for Contemporary Christianity.

A gold coin with the DOGE dog on it, lies over the face on a $50 bill.
So doge-y.
Kanchanara on Unsplash

‘When America sneezes the rest of the world catches a cold’ quipped economists almost a century ago after the Wall Street crash.  A comment that might equally apply to the more than 10 per cent drop in stock markets caused by President Trump’s sudden raised tariffs on imports to the USA.  The impact of the American economy on the world is inescapable.  It represents almost a quarter of global GDP and the dollar is the leading reserve currency, accounting for around 60 per cent of international foreign exchange reserves.  Size is what enables America to bully the rest of the world. 

For decades the American trade deficit has been an elephant in the room and Trump is to be applauded for recognising it and addressing the problem. Unfortunately, the way he has gone about it has caused another, bigger problem. Changing the direction of the global economy is like turning a tanker, it cannot be done easily or quickly, but Trump’s style is to attack, like hammering at a nail.  Every issue in geopolitics looks like another nail, waiting for him to hammer out a negotiated deal.  Full marks for courage, but not for wisdom. The blunt weapon of trade tariffs is designed to bring wealth and power back towards the USA, but blunt weapons often cause a mess, and sure enough a global mess is what we now have.  A US/China trade war with higher prices that could end up stoking inflation and a government own goal.   

Panic selling of government bonds signalling a loss of confidence following Trump’s dramatic tariff boost is reminiscent of the impact of Liz Truss’ sudden and radical UK tax cuts, which were also driven by an ideology, but ended up as a wrecking ball.  Even some of Trump’s backers have warned of an economic nuclear winter.  In the long run, Trump has done the world a favour by highlighting a structural issue that needed correction, but his economically violent methods of addressing it look increasingly unwise.  If a global depression does happen on the back of all this, then coupled with the rise of autocratic and belligerent leadership, we would face a worrying parallel to what happened in the 1930s when the world eventually slid into war.   

Tariffs are like walls, barriers to cooperation and the epitome of economic selfishness.  Make America Great Again is selfishness writ large - a society pursuing wealth and power without the cohesive framework of values that are so essential to cooperation and community wellbeing.  A psychology of self-centredness that damages relationships at the national level.  This is what I find most concerning about Trump’s approach; not just the economics but the long-term legacy of relational damage that could last well beyond his Presidential term. 

Our fears reveal just how much we trust in wealth above everything else, and how much the fear of scarcity affects our mental health.

Michael Schluter in his book The Relational Lens defines five principles, or measures, of relational health.  They are directness, parity, common purpose, continuity and breadth.  Applying those five measures helps us see why Trump’s tariffs are the polar opposite of relational.  He introduced these escalating penalties remotely and not in face-to-face negotiations.  Exploiting the power of America instead of showing respect for the status and needs of other nations.  Tariffs have no common purpose with other countries, only a selfish agenda.  There is no continuity with previous trading protocols.  And it is all purely financial, with no reference to the broader holistic impact.  All in all, a relational disaster.   

Despite living in the ‘first world’ we remain gripped with fear of loss.  Our fears reveal just how much we trust in wealth above everything else, and how much the fear of scarcity affects our mental health. Markets are not entirely rational; they are driven by algorithms that stem from this psychology of greed and fear.  Emotions and trading swing wildly with a herd instinct that often drives behaviour.  As Rabbi Jonathan Sachs said:  

‘Markets have no moral compass; we have outsourced morality to legislation by the State.’   

But the worry now is that the current US administration shows signs of ignoring morality and even riding roughshod over the courts.  No wonder people feel afraid. 

Where can we find hope in all this turmoil?  Is there a better response than gritted teeth and the mantra: ‘this too shall pass’?  I think so.  There is life beyond the market.  Jesus said: ‘life does not consist in an abundance of possessions.’  We can choose to step back and look at all this with the true perspective that money isn’t everything.  We can cultivate gratitude for what we do have.  We can learn contentment.  Yet I feel for those who have experienced financial loss, and don’t want to minimise the reality of hardship.  In fact, something important and practical all of us who are privileged can and should do is to be vigilant in watching out for those who are poor and disadvantaged.  To look after those with a real need for the basics of life and help them through this tough time when economic disruption could make life even harder.  For those with a faith this is part of working out how our faith makes a positive difference where we are. 

Perhaps the supreme irony of this crisis is President Trump’s insistence that Americans must trust him.  Ironic, because the one thing that his tariff actions seem to have undermined more than anything else is trust.  The trust that is essential to the functioning of both markets and civilisation as a whole.  Face to face discussions must be the way forward now, to rebuild trust and find more nuanced, mutual approaches to solving America’s trade deficit.   

There is one person we can always trust though, and his name is written clearly on the American One Dollar bill. In God we trust. Let’s pray that Trump and his America returns to that imperative and turns back to a more Christ centred philosophy of loving our neighbour as ourselves, reflected in a more bilateral approach to diplomacy and agreement.

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Article
Attention
Culture
Digital
Fashion
5 min read

Meet London’s newest theologian – the Real Housewives of Clapton

The starter kits that kick-start the study of our souls.
A woman looks at her phone, behind her is a montage of memes

How might an Instagram account summarise someone who’s a proficient user of Lime bikes, a lover of ‘natty wine,’ and has an affinity for small plates?  

Sure, a particular East London ‘creative’ type probably came to mind. And you’d be right. However, perhaps there’s something more to all that social media signalling - a gesture toward late-stage capitalism, the ethical, the bourgeoisie, the material, or, dare I say, the spiritual

Great religious texts are lived before they are written, and the prominent Instagram account Real Housewives of Clapton intuitively inscribes our new scriptures. (With Hanna Crosbie as its prophet. Along with Socks House Meeting and Dalston Super Stoned.) However, these new scriptures are not written on sacred scrolls but on digital tablets: memes.  

Real Housewives of Clapton help us to see the vestments East Londoners are adorned with (new converts should begin with an Acne scarf), the pilgrimage sites to be walked (Broadway Market in Salomons), and the sacred meals one should partake of (rotisserie chicken is in vogue, but Jolene Newington Green is the cathedral). Nevertheless, young Londoners (like the rest of the Western world) are increasingly becoming more religious, not least Christian. As Lauren Westwood and Graham Tomlin discuss. But does all this newfound fervour always come leaping into traditional religion? I’m still not sure. 

Ditching the poetic-spiritual contours of sacred writing for the potency of Microsoft Word ‘fancy’ text hastily pasted over stock images, Real Housewives of Clapton is delivering our new scriptures en masse, on pace with the changing of trends themselves. While memes are a longitudinal study nightmare for distilling emergent truths, they are great way to laugh whilst on the toilet. And the consumers of these LOLs? Those involved in the sub-culture themselves. It's post often generate tens of thousands of likes.

Real Housewives of Clapton articulates the aesthetics of our contemporary religiosity as it manifests in the everyday - so much so that religious attire re-emerges as a genuinely distinct perception of ‘East London’ attire, see the post below.. Religion is that term used to describe a community’s ritual, aesthetic, holy scriptures, sacred sites, and understanding of the Divine and how this relates to humanity.  

A screen grab of a message thread.

 

Precisely because the projected identities these East London meme-dealers expose are entangled with a self-awareness for the ethical, it naturally gravitates toward the religious. To consider the aesthetics of ethics is to delve into theology. To meander on the aesthetics of a subculture in this way, then, is to be a theologian. The creators behind Real Housewives of Clapton are East London’s Rowan Williams (the 104th Archbishop of Canterbury, not the actor), Germany’s Dietrich Bonhoeffer, or Medieval Europe’s Hildegard of Bingen. They’re reading the signs of the time and distilling it into potent visual metaphors. 

So, what might we see if we were to read the memes of Real Housewives as theologians? Well, perhaps we can trace an eschatology (a fancy word for discussing the End Times). 

The East London world is your oyster, but only insofar as it’s captured. And it needs to be a captured reality shared online so that we can feel seen.

In heightening our awareness of and orienting the sub-culture around “little things”—small plates, chippies, situationships, drinks, vitamin D—East Londoners are highly aware of the particulars of creation and how they can be in service to a more satisfactory existence.  

A few months ago, Real Housewives shared this meme about running. Everyone knows someone who joined a run club in recent months; sharing the run map has become a “flex” on your friends (becoming a national security threat in the USA). Yet, the account contextualises this with the phrase, ‘after not posting anything for 9 months.’ There is, undergirding East London, particularly for men it seems, the felt need to maintain an air of nonchalance, aloofness, or, indeed, mystery. 

A screen grab of a content creation meme.

 

Arguably, this nonchalance is from the same guy on Broadway market who ghosted you after the fifth date. Or, as appears every public holiday, the mysteriously unemployed DJ acquaintance who, via his close friends' list, is at his parents’ holiday home in Dorset. 

Nevertheless, the account shared another meme a month later, see below, signalling something deeper. The identity of distance or mysterion is undercut by a more potent insight: we are obsessed with projecting our identities. Taking this to its logical absurdity, Real Housewives contrasts the purchase of a £1.29 Twix with the nostalgia of an off-licence. The East London world is your oyster, but only insofar as it’s captured. And it needs to be a captured reality shared online so that we can feel seen

A screen grab of a content creation meme.

 

Participating in this religion includes evangelism through one’s online identity. But, in contrast to popular streams of culture, this aesthetic and its symbolic world only makes sense for those who live in East London. In other words, the Cult of East London doesn’t find its attraction because you might get global stardom. Instead, partaking in this particular cultural aesthetic signals to those you meet on Dalston High Street that you understand them and, hopefully, they might understand you. 

Converging across both “social media mystery boy” and its always-online antithesis is the undergirding desire for our projected identity to be known. 

As this meme about the sun coming out reveals, behind its comedic options—a designer jacket, spritz and ciggie, or the London sun—is a more dormant reality: we need all three.  

A screen grab of a fashion choice meme.

 

A Freudian reading might interpret the designer jacket as the need for physical touch, the spritz as a plea for community, and the London sun as the need for God—the cult of Sol Invictus, perhaps. Maybe. Or, in a theological key, through the triangulation of branded cohesivity, a little drink, and the bodily calmness to feel as though we can finally close our eyes, we might actually find peace. 

The garments Real Housewives self-abasingly propagates suggest that the spiritual lives of East Londoners are genuinely concerned with ethics. In aversion to fast fashion, we wear things that promote our being seen beyond a glance. This held-gaze has both to do with the self and the plea for us to look more seriously at the world we find ourselves in. This shift toward a more substantive looking subtly nods to an eschatology of peace. 

The spiritual lives of East Londoners gravitate toward a longing for peace that is temporally filled with ethically just choices but is embodied unseriously. We laugh with and double-tap The Real Housewives of Clapton’s memes because we know this identity won’t save us. But spending one afternoon in London Fields wearing an iconic fit amidst the blazing British sun might just give us a taste of eternal serenity. 

Celebrate our 2nd birthday!

Since Spring 2023, our readers have enjoyed over 1,000 articles. All for free. 
This is made possible through the generosity of our amazing community of supporters.

If you enjoy Seen & Unseen, would you consider making a gift towards our work?

Do so by joining Behind The Seen. Alongside other benefits, you’ll receive an extra fortnightly email from me sharing my reading and reflections on the ideas that are shaping our times.

Graham Tomlin
Editor-in-Chief