Trumpenomics

[Doctor Phibes]

[Renauda]

Holy guacamole! They’re now trying to blind us with all the MAGAt Science.

Kush Desai:

https://www.business-standard.com/amp/world-news/who-is-kush-desai-donald-trump-s-newly-appointed-deputy-press-secretary-125012500389_1.html

He worked for the Daily Caller?

That’s like a Canadian having served as a
cub reporter for Rebel News

[Doctor Phibes]

Technobabble. As if this bullshit needs all the Greek letters and the confusing looking subscripts.

"Consider an environment" my arse.

if you unpick the formula above it boils down to simple maths: take the trade deficit for the US in goods with a particular country, divide that by the total goods imports from that country and then divide that number by two.

[LuFins Dad]

Most of you’ns don’t really care for Shapiro, but the first 10 minutes or so are useful.

Link to video

[Renauda]

@LuFins-Dad

Listened to the first 10 minutes as you recommended.

Shapiro gets it. Why is it so difficult for others to grasp it?

[Horace]

@LuFins-Dad said in Trumpenomics:

Most of you’ns don’t really care for Shapiro, but the first 10 minutes or so are useful.

Link to video

Was just coming here to post this. His economic policies were admitted to be reasonable, even by many never-Trumpers on the right. Boy are they not reasonable anymore.

[Horace]

Shapiro expresses some optimism at 35:50. Optimism in the form of "I don't think he's this crazy, and so I don't think these tariffs are going to be implemented like that".

[LuFins Dad]

Did you catch the bit where he called the Tariffs unconstitutional? If you get enough of the more traditional Republican senators and Congressmen to hear Shapiro and some of the other more traditional commentators come out hard against the tariffs, and they might actually stand up to Trump.

[Horace]

The tariffs have already done plenty of damage, and there is no coherent story about how they will benefit main street. I expect support for them to become politically toxic. Maga can’t run on delusions, not to that extent.

[Horace]

I’m a little surprised the Democrats would want to save Trump from himself on this. I am sure there are plenty of congresspeople on that side who would like to see tariff havoc wrought by Maga. It’s not a political win for them if they block these tariffs, and the economy does well for the next few years.

[Jolly]

@Horace said in Trumpenomics:

I’m a little surprised the Democrats would want to save Trump from himself on this. I am sure there are plenty of congresspeople on that side who would like to see tariff havoc wrought by Maga. It’s not a political win for them if they block these tariffs, and the economy does well for the next few years.

Yep. The Dems might be saying to themselves, what if we try to block him and the damn things work?

[LuFins Dad]

Bernie’s probably pissed because this is his bag…

[Renauda]

@Horace

It’s not a political win for them if they block these tariffs, and the economy does well for the next few years..

Not to worry. I doubt that the market can be fooled. American goods and services may not be exportable for some time to come. Some of us will have long memories and will choose to shop elsewhere as a matter of principle even if the price is higher. The US can only sell so much to itself.

[Horace]

@Jolly said in Trumpenomics:

@Horace said in Trumpenomics:

I’m a little surprised the Democrats would want to save Trump from himself on this. I am sure there are plenty of congresspeople on that side who would like to see tariff havoc wrought by Maga. It’s not a political win for them if they block these tariffs, and the economy does well for the next few years.

Yep. The Dems might be saying to themselves, what if we try to block him and the damn things work?

The tariffs have been working as expected, and it has been to the political benefit of the Dems.

[Horace]

@LuFins-Dad said in Trumpenomics:

Bernie’s probably pissed because this is his bag…

I saw a fringe left punditry show that was very pleased with the tariffs.

[Doctor Phibes]

@Horace said in Trumpenomics:

@LuFins-Dad said in Trumpenomics:

Bernie’s probably pissed because this is his bag…

I saw a fringe left punditry show that was very pleased with the tariffs.

I think it’s obvious that if it was a lefty doing this, all the people on the right currently applauding Trump would be screaming blue murder.

[Horace]

@Doctor-Phibes said in Trumpenomics:

@Horace said in Trumpenomics:

@LuFins-Dad said in Trumpenomics:

Bernie’s probably pissed because this is his bag…

I saw a fringe left punditry show that was very pleased with the tariffs.

I think it’s obvious that if it was a lefty doing this, all the people on the right currently applauding Trump would be screaming blue murder.

Yeah I would be much more aggressive in my rhetoric if a misguided leftist was doing this. But online rhetoric aside, the tariffs are polling horribly, according to Shapiro above. Most of the people who voted for Trump are against them.

The fact is, the tariffs are objectively stupid, but I’m sure the main reason people hate them is because of their 401ks.

[kluurs]

Right now, some people will buy stock as stocks are more of bargain, but what happens if Trump decides to stay the course with platitudes that we just need to wait till "happy days" show up? What happens when other nations reciprocate? When the dollar is punished as the reserve currency? When China moves and captures new markets and partners? When tariffs are removed - and the rebound doesn't show up?

Some of this won't be fixed with a "bygones" - and go back to where we were on January 20. Some of the damage will be generational. For those who believe him using the tariffs as "leverage" for some unknown genius move, it's hard to come up with what those penguins have to offer. If he withdraws immediately, it may show him as having made an error - which, of course, he is incapable of doing. If he stays on point with the attack against the world, every day will bring more bad news - and it won't let up. We wonder about the auto industry - but the past 15 years have seen a large number of small businesses that depend on Asia as well. They will have less money to spend, more bankruptcies. The good news, and we all know if there's one thing that Trump is good at..it's find the good news - is that oil and gas prices are on the move down. Promise kept!

[kluurs]

[AndyD]

So correct me if I'm wrong here with the basics:
the US Federal government is going to tax pretty much every import.
The importing dealer pays the Fed the tax and will then pass on some or all of that tax expense to customers. You.
10% increase in price for you on a bottle of whisky, 25% increase on a Ferrari, much higher tax on shoes from the far east, utilities imported from Canada etc.

So your cost of living is going up, probably a lot; your Fed has upped taxes on you, indirectly but dramatically, and is sitting pretty.
Inflation is rising but your salaries aren't.

That's the nub?

The rest of the discussion is theory regarding future possibilities of job creation, internal manufacturing investment, the stock market.