Trumpenomics
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@jon-nyc Yup. It was obvious that someone (like China) would step into the "void" created by the US pulling out of the global community.
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@jon-nyc said in Trumpenomics:
What does Reagan think?
It is interesting that a lot of current politicians hold President Reagan on a pedestal, but then go against everything that he stood for. LOL
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I don't see any good end to the tariffs other than better trade agreements, after which the tariffs go away. Trump presents them as a good thing in and of themselves, but at best they seem to be a stick to inflict pain on ourselves and others, with others being hit harder. The jobs that come into America will be anti-competitive, and will raise prices. A car built by Americans getting paid American wages will not be profitable at the current prices, even without tariffs. Same goes for any product built using cheap labor.
I guess there's an argument to be made about how inhumane all that cheap labor was. I don't suppose that argument is being made now, though there used to be murmurs of it from the left.
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Most of them I think are from government layoffs
U.S.-based employers cut more jobs this February than in any February in 16 years, according to a new report from outplacement firm Challenger, Gray and Christmas.
This year, employers announced 172,017 job cuts — the most the shortest month has seen since 2009,
and
The Labor Department will release the official February jobs report Friday morning.
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I don't see any good end to the tariffs other than better trade agreements, after which the tariffs go away. Trump presents them as a good thing in and of themselves, but at best they seem to be a stick to inflict pain on ourselves and others, with others being hit harder. The jobs that come into America will be anti-competitive, and will raise prices. A car built by Americans getting paid American wages will not be profitable at the current prices, even without tariffs. Same goes for any product built using cheap labor.
I guess there's an argument to be made about how inhumane all that cheap labor was. I don't suppose that argument is being made now, though there used to be murmurs of it from the left.
@Horace said in Trumpenomics:
I don't see any good end to the tariffs other than better trade agreements, after which the tariffs go away. Trump presents them as a good thing in and of themselves, but at best they seem to be a stick to inflict pain on ourselves and others, with others being hit harder. The jobs that come into America will be anti-competitive, and will raise prices. A car built by Americans getting paid American wages will not be profitable at the current prices, even without tariffs. Same goes for any product built using cheap labor.
I guess there's an argument to be made about how inhumane all that cheap labor was. I don't suppose that argument is being made now, though there used to be murmurs of it from the left.
If you play out the long game. Countries with no trade barriers will eventually overtake you in terms of making things in a cheaper way. Then you’ll have to put more tariffs on to protect yourself from their output.
We did tariffs for hundreds of years before we didn’t.
I’m on board with tariffs against countries that are doing predatory investments to shake out the market (eg China). But even then… there’s massive benefits to the consumers of other countries that get subsidized goods.
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@jon-nyc said in Trumpenomics:
Heritage Foundation (Project 2025 authors) are now retconning previous papers about tariffs.
But there are still some articles up. So maybe only that one guy.
https://www.heritage.org/trade/report/do-no-harm-tariffs-and-quotas-hurt-the-homeland
Tariffs are taxes on Americans, and quotas cut businesses off from valuable goods that provide Americans with more choice.
Imports are integral to the competitiveness of domestic producers—and increasing their prices or limiting imports hurts Americans.
Both tariffs and quotas decrease freedom, disrupt supply chains, and artificially change prices.
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@jon-nyc said in Trumpenomics:
Good point from Alex Tabarrok, GMU colleague of Hanson, Caplan, and Cowen.
That's what I just wrote, but I fleshed it out a bit. Did you post that for the people who have me blocked?
Education is extremely important.
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I’ve heard people say it’s all about confidence and optimism.
Perhaps investors think Trump doesn’t have the right temperament this time around.
Or maybe it’ll be fine tomorrow… who knows.
