For decades, regardless of who was in the White House or in the seats of Congress, countries around the world have had incomparable trust in the economic integrity of the United States of America. This has made America a magnet for long-term investment; led to the dollar being the global reserve currency; and inspired continued faith in U.S. Treasurys, which are still one of the safest bets in the world.

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The recipe for the extraordinary position we hold in the world is simple: fidelity to smart, rigorous economic norms; nonpolitical institutional integrity; and commitment to the rule of law.

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Although this trust and credibility has taken decades to build, it is rapidly coming apart under the Trump/Vance administration. The irresponsibility and unseriousness of these people’s actions is nothing short of breathtaking. In addition to the catastrophic mess they have made of our relationships with our allies, they have done everything from relentlessly threaten and criticize the independence of the U.S. Federal Reserve to brazenly undermine the credibility of independent, nonpolitical agencies like the Congressional Budget Office and other agencies like the U.S. Bureau of Labor Statistics, significantly damaging the credibility of official economic data and our accountability procedures.

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These are not things that dependable, established governments do. These are things that emerging, corrupt governments do. The Economist’s adjectives for this administration capture it perfectly: “shambolic, incoherent” and “a mockery of policymaking.” They were speaking specifically about tariffs but could easily have been talking about almost every decision the Trump/Vance administration makes.

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Global confidence in the U.S. economy has already been slowly eroding thanks to our rising national debt, increasing deficits, and worsening domestic political turmoil. The Trump/Vance administration could very well be the last straw if we don’t demand changes – like now.