Trumpenomics

89th

At this point I'd love a powerpoint presentation to explain how this is all going to make America great again. Not even sarcastic... I am genuinely confused. If this is about protecting domestic production until it can replace the imports, the Trump/Nutlick team would be wise to read this summary (it's not political, btw...) especially Section II: https://www.reddit.com/r/Economics/wiki/faq_protectionism_and_development/#wiki_section_ii.3A_an_overview_of_the_infant_industry_argument

taiwan_girl

Pre-inaugeration
“Everyone is calling it the — I don’t want to say this, it’s too braggadocious, but we’ll say it anyway — the Trump effect." Trump said at a rally with supporters. “Since the election, the stock market has surged, and small-business optimism has soared a record 41 points to a 39-year high. Bitcoin has shattered one record high after another.”

Post Inaugeration
“I was very proud to have handed over the country when the stock market was higher than it was, previous to the pandemic coming in,” he said in a Fox News interview Feb. 9. “It was an amazing achievement.”

“The stock market is going to be great,” he told the crowd at an investor conference Feb. 19.

Now
“You can’t really watch the stock market,” Trump said in an interview that aired Sunday on Fox News. “If you look at China, they have a 100-year perspective. We have a quarter. We go by quarters.”

jon-nyc

They want to end standardized testing.

Renauda

@89th

And then you have Secretary Nutlick...

Nutlick.

I’m stealing that.

Horace

@taiwan_girl said in Trumpenomics:

Pre-inaugeration
“Everyone is calling it the — I don’t want to say this, it’s too braggadocious, but we’ll say it anyway — the Trump effect." Trump said at a rally with supporters. “Since the election, the stock market has surged, and small-business optimism has soared a record 41 points to a 39-year high. Bitcoin has shattered one record high after another.”

Post Inaugeration
“I was very proud to have handed over the country when the stock market was higher than it was, previous to the pandemic coming in,” he said in a Fox News interview Feb. 9. “It was an amazing achievement.”

“The stock market is going to be great,” he told the crowd at an investor conference Feb. 19.

Now
> “You can’t really watch the stock market,” Trump said in an interview that aired Sunday on Fox News. “If you look at China, they have a 100-year perspective. We have a quarter. We go by quarters.”

I'm not really sensing a plan with these tariffs that will pan out within Maga's timeline, which isn't quarters, but which certainly is 2 years or 4 years at most.

Renauda

Governance by ADHD decree.

89th

"Tariffs are a tax hike on foreign countries. Tariffs are a tax cut for the American people." Either I totally am wrong (possible) or I think the white house truly has NO idea what a tariff is and who pays it. WTFFFFFFFF

Of course she snips at the AP at the end of it.

Around 56:45 -

Link to video

89th

Also, a bit ironic there is a "DOW Watch" visual on the screen watching markets tank as these policies are implemented.

jon-nyc

She should be banned from the White House press room. Didn’t they say they wouldn’t tolerate anyone spreading lies to the American people?

Horace

The whole administration needs to provide a unified front that tariffs are actually a good idea, otherwise the negotiating tactic for better trade deals is toothless. I mean, that's the only way to look at it that makes any sense.

taiwan_girl

@89th said in Trumpenomics:

"Tariffs are a tax a tax hike on foreign countries. Tariffs are a tax cut for the American people."

Press secretary has to be one of the worst jobs I would not want.

89th

I'm not being sarcastic, but has anyone asked the President who pays the tariff? Does he realize it's the consumer (via the importing company)? Like, is there a video where he clearly explains the purpose of all these unforced political errors?

jon-nyc

@89th said in Trumpenomics:

"Tariffs are a tax hike on foreign countries. Tariffs are a tax cut for the American people." Either I totally am wrong (possible) or I think the white house truly has NO idea what a tariff is and who pays it. WTFFFFFFFF

Of course she snips at the AP at the end of it.

a good summary.

For those who do not follow economics, here's basically what happened:

Leavitt: 2+2=Purple.
AP Reporter: I have a calculator and 2+2=4.
Leavitt: How DARE you insult my math skills!
Conservative Media: White House DESTROYS disrespectful and un-American AP reporter.

taiwan_girl

@jon-nyc LOL

But true.

LuFins Dad

Shapiro has been going off on Trump’s tariff policy and the general populist MAGA underpinnings.

xenon

I’ve been listening to him too lately. He’s such a case study in audience capture. He knows better than all this.

He was a big Trump booster during the election this time - his position was that Trump wouldn’t do a lot of the things he’s now doing.

jon-nyc

Re audience capture, I remember a number of years ago hearing him with Sam Harris and thinking he was an intelligent guy who I didn’t always agree with but he made sense. Then I listened to him on his own podcast. For about five minutes. Oy.

Horace

I read LD's post as Shapiro being unhappy with the tariffs. What is Shapiro saying?

89th

I think basically that the Trump's tariff chaos and the "withdrawal from global commerce" (not really, but the general feeling) is not going to result in a good outcome for America or the world. It's a lose-lose strategy. I only listened to it a little, so @LuFins-Dad correct me please.

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Trumpenomics