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The New Coffee Room

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  3. Trumpenomics

Trumpenomics

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  • jon-nycJ jon-nyc

    @LuFins-Dad said in Trumpenomics:

    And as a side note, Netanyahu is now saying he planes on eliminating the trade deficit between Israel and the US. Please explain to me how a nation of 10M can possibly equal the economic consumption of a nation of 350M? Especially when much of that trade is based on precious jewels, which the US has little industry in mining…

    Buy more weapons.

    kluursK Offline
    kluursK Offline
    kluurs
    wrote on last edited by
    #560

    @jon-nyc said in Trumpenomics:

    @LuFins-Dad said in Trumpenomics:

    And as a side note, Netanyahu is now saying he planes on eliminating the trade deficit between Israel and the US. Please explain to me how a nation of 10M can possibly equal the economic consumption of a nation of 350M? Especially when much of that trade is based on precious jewels, which the US has little industry in mining…

    Buy more weapons.

    We'll have to give them more money to do that - so perhaps, they should arrange to contribute more to Trump, his relative and of course, to member of congress and their families.

    1 Reply Last reply
    • LuFins DadL LuFins Dad

      Broad swaths of Western PA, Eastern Ohio, and Michigan view trade deficits as the reason why they and their communities are riddled with drugs, overdoses, and rusted out husks of factories. They don’t blame their unions, which essentially drove the factories into bankruptcy, but instead blame the foreign manufacturers. Japanese steel, in particular. Trump feels beholden to those groups. They got him elected, after all.

      RenaudaR Offline
      RenaudaR Offline
      Renauda
      wrote on last edited by Renauda
      #561

      @LuFins-Dad

      Broad swaths of Western PA, Eastern Ohio, and Michigan view trade deficits as the reason why they and their communities are riddled with drugs, overdoses, and rusted out husks of factories. They don’t blame their unions, which essentially drove the factories into bankruptcy, but instead blame the foreign manufacturers. Japanese steel, in particular. Trump feels beholden to those groups. They got him elected, after all.

      That very well may be the case, although I hope the angry proletarian rabble understands that it is just a matter of time before Trump will turn against their sacred cow labour unions. Cost of hourly US labour plus benefits is far too high for the Trump agenda (if there is indeed one) to even get off the ground.

      That may be the time you predicted to see Vance’s exit; either sidelined from the Emporer’s court or jettisoned altogether.

      Elbows up!

      1 Reply Last reply
      • jon-nycJ Offline
        jon-nycJ Offline
        jon-nyc
        wrote on last edited by
        #562

        He was elected. Trump can’t fire him.

        Only non-witches get due process.

        • Cotton Mather, Salem Massachusetts, 1692
        1 Reply Last reply
        • LuFins DadL LuFins Dad

          Broad swaths of Western PA, Eastern Ohio, and Michigan view trade deficits as the reason why they and their communities are riddled with drugs, overdoses, and rusted out husks of factories. They don’t blame their unions, which essentially drove the factories into bankruptcy, but instead blame the foreign manufacturers. Japanese steel, in particular. Trump feels beholden to those groups. They got him elected, after all.

          Doctor PhibesD Online
          Doctor PhibesD Online
          Doctor Phibes
          wrote on last edited by Doctor Phibes
          #563

          @LuFins-Dad said in Trumpenomics:

          Broad swaths of Western PA, Eastern Ohio, and Michigan view trade deficits as the reason why they and their communities are riddled with drugs, overdoses, and rusted out husks of factories. They don’t blame their unions, which essentially drove the factories into bankruptcy, but instead blame the foreign manufacturers. Japanese steel, in particular. Trump feels beholden to those groups. They got him elected, after all.

          Right, so he thinks (or pretends to, at least) that he can make US manufacturing competitive without reducing the salaries to competitive levels by taxing the shit out of foreign products and we can all go back to living in the golden age of the 1970's.

          Funnily enough, I remember the 1970's as being a bit shit, to be honest.

          I was only joking

          LuFins DadL 1 Reply Last reply
          • Doctor PhibesD Doctor Phibes

            @LuFins-Dad said in Trumpenomics:

            Broad swaths of Western PA, Eastern Ohio, and Michigan view trade deficits as the reason why they and their communities are riddled with drugs, overdoses, and rusted out husks of factories. They don’t blame their unions, which essentially drove the factories into bankruptcy, but instead blame the foreign manufacturers. Japanese steel, in particular. Trump feels beholden to those groups. They got him elected, after all.

            Right, so he thinks (or pretends to, at least) that he can make US manufacturing competitive without reducing the salaries to competitive levels by taxing the shit out of foreign products and we can all go back to living in the golden age of the 1970's.

            Funnily enough, I remember the 1970's as being a bit shit, to be honest.

            LuFins DadL Offline
            LuFins DadL Offline
            LuFins Dad
            wrote on last edited by
            #564

            @Doctor-Phibes said in Trumpenomics:

            @LuFins-Dad said in Trumpenomics:

            Broad swaths of Western PA, Eastern Ohio, and Michigan view trade deficits as the reason why they and their communities are riddled with drugs, overdoses, and rusted out husks of factories. They don’t blame their unions, which essentially drove the factories into bankruptcy, but instead blame the foreign manufacturers. Japanese steel, in particular. Trump feels beholden to those groups. They got him elected, after all.

            Right, so he thinks (or pretends to, at least) that he can make US manufacturing competitive without reducing the salaries to competitive levels by taxing the shit out of foreign products and we can all go back to living in the golden age of the 1970's.

            Funnily enough, I remember the 1970's as being a bit shit, to be honest.

            Not at all. I very much doubt that’s the goal. Oh, he would like to bring some more manufacturing back to the US, but the little that does happen to come back will go to Texas or Florida. States that are more competitive in recruiting business interests. The fact is that Western Pennsylvania has been too ruined by poor work ethics and standards thanks to those unions that it won’t recover through manufacturing, but the area is slowly being rehabilitated through gentrification. And they hate that, too. But oh well.

            The Brad

            1 Reply Last reply
            • Doctor PhibesD Online
              Doctor PhibesD Online
              Doctor Phibes
              wrote on last edited by
              #565

              I think Pennsylvania etc. have quite a bit in common with the north of England. We had mills, coal mining, steel, car manufacturing. Leyland (of Leyland Motors and British Leyland fame) is about 10 miles from where I lived. When I was at school the joke was that if you worked there you got a free company mattress for the night shift. I do remember there were a lot of strikes in the 1970's. There's nothing left of it now, of course.

              Boris Johnson promised to re-invest heavily in the north following Brexit. They haven't seen much other than bullshit.

              I was only joking

              1 Reply Last reply
              • jon-nycJ Offline
                jon-nycJ Offline
                jon-nyc
                wrote on last edited by
                #566

                Larry Summers put the odds of a recession at better than even.

                Only non-witches get due process.

                • Cotton Mather, Salem Massachusetts, 1692
                1 Reply Last reply
                • 89th8 Offline
                  89th8 Offline
                  89th
                  wrote on last edited by
                  #567

                  Markets on almost a 6% swing now... was up 3%, now down 3%. I wonder if FoxNews has the stock ticker back on the screen?

                  1 Reply Last reply
                  • jon-nycJ Offline
                    jon-nycJ Offline
                    jon-nyc
                    wrote on last edited by
                    #568

                    A great piece from a manufacturer with experience here and in China. An excerpt:

                    To start manufacturing in the United States, a company needs to make a large investment. They will need to buy new machinery and if no existing building is suitable, they will need to construct a new building. These things cost money, a lot, in fact. And significantly more in the USA, than they do in other countries. In exchange for this risk, there must be some reward. If that reward is uncertain, no one will do it.

                    Within the past month, the president put a 25% tariff on Mexico, and then got rid of it, only to apply it again, and then get rid of it a second time. Then, last week, he was expected to apply new tariffs to Mexico, but didn’t.

                    If you’re building a new factory in the United States, your investment will alternate between maybe it will work, and catastrophic loss according to which way the tariffs and the wind blows. No one is building factories right now, and no one is renting them, because there is no certainty that any of these tariffs will last. How do I know? I built a factory in Austin, Texas in an industrial area. I cut its rent 40% two weeks ago and I can’t get a lick of interest from industrial renters.

                    The tariffs have frozen business activity because no one wants to take a big risk dependent on a policy that may change next week.

                    Even further, the tariffs are confusing, poorly communicated, and complex. Today, if you want to import something from China, you need to add the original import duty, plus a 20% “fentanyl tariff”, plus a 34% “reciprocal tariff”, and an additional 25% “Venezuelan oil” tariff, should it be determined that China is buying Venezualan oil. The problem is there is no list of countries which are importing Venezuelan oil provided by the White House, so you don’t know if you do or don’t need to add that 25% and you also don’t know when any of these tariffs will go into effect because of unclear language.

                    As such, you can’t calculate your costs, either with certainty or accuracy, therefore, not only do you not build a factory in the United States, you cease all business activity, the type of thing that can cause a recession, if not worse.

                    For the past month, as someone who runs a business in this industry, I have spent a huge portion of my time just trying to keep up with the constant changes, instead of running my business.

                    Whole thing worth a read.

                    Only non-witches get due process.

                    • Cotton Mather, Salem Massachusetts, 1692
                    1 Reply Last reply
                    • HoraceH Offline
                      HoraceH Offline
                      Horace
                      wrote on last edited by
                      #569

                      I mean, it's just obvious that that needs to be the perspective of any business.

                      Education is extremely important.

                      1 Reply Last reply
                      • jon-nycJ Offline
                        jon-nycJ Offline
                        jon-nyc
                        wrote on last edited by
                        #570

                        A funny:

                        This feels different than 2008 because everyone agreed it was bad. You didn't have Hank Paulson on tv saying that owning a house was making you weak and you'll learn to love tent life.

                        Only non-witches get due process.

                        • Cotton Mather, Salem Massachusetts, 1692
                        1 Reply Last reply
                        • jon-nycJ Offline
                          jon-nycJ Offline
                          jon-nyc
                          wrote on last edited by
                          #571

                          Trump admin expected to impose large fees on Chinese ships. A guy in logistics describes how that will effect smaller ports like Boston and New Orleans.

                          Only non-witches get due process.

                          • Cotton Mather, Salem Massachusetts, 1692
                          1 Reply Last reply
                          • jon-nycJ Offline
                            jon-nycJ Offline
                            jon-nyc
                            wrote on last edited by
                            #572

                            A lot of right wing guys who spent the last two days telling us most people don’t own stocks and the market isn’t the economy went on to take premature victory laps this morning when the market was up.

                            Only non-witches get due process.

                            • Cotton Mather, Salem Massachusetts, 1692
                            1 Reply Last reply
                            • HoraceH Offline
                              HoraceH Offline
                              Horace
                              wrote on last edited by Horace
                              #573

                              Heads they win, tails we lose.

                              The more common strategy is to dismiss anybody who cares as a "wealthy wall streeter". That this is the price we need to pay, for main street.

                              But there are so many people on main street with 401ks, depending on them for their retirements. Not to mention the whole job loss and recession thing, which won't go well for main street either.

                              Education is extremely important.

                              1 Reply Last reply
                              • 89th8 Offline
                                89th8 Offline
                                89th
                                wrote on last edited by
                                #574

                                More like Pain Street amirite

                                1 Reply Last reply
                                • HoraceH Offline
                                  HoraceH Offline
                                  Horace
                                  wrote on last edited by
                                  #575

                                  Senator Kennedy begs Trump to take deals and end the tariffs:

                                  Link to video

                                  Education is extremely important.

                                  LuFins DadL RenaudaR 2 Replies Last reply
                                  • 89th8 Offline
                                    89th8 Offline
                                    89th
                                    wrote on last edited by
                                    #576

                                    Maybe I'm just not watching the news enough, but I don't have clarity on what the end goal truly is for all of this. Manufacturing back into the USA? Lower tariffs against USA imports in other countries?

                                    HoraceH 1 Reply Last reply
                                    • 89th8 89th

                                      Maybe I'm just not watching the news enough, but I don't have clarity on what the end goal truly is for all of this. Manufacturing back into the USA? Lower tariffs against USA imports in other countries?

                                      HoraceH Offline
                                      HoraceH Offline
                                      Horace
                                      wrote on last edited by
                                      #577

                                      @89th said in Trumpenomics:

                                      Maybe I'm just not watching the news enough, but I don't have clarity on what the end goal truly is for all of this. Manufacturing back into the USA? Lower tariffs against USA imports in other countries?

                                      Do more manufacturing, and get better trade deals with other countries.

                                      I'm sure they'll both happen to some extent, but the cost will be a likely recession, with small and medium sized businesses harmed the most.

                                      Education is extremely important.

                                      1 Reply Last reply
                                      • HoraceH Horace

                                        Senator Kennedy begs Trump to take deals and end the tariffs:

                                        Link to video

                                        LuFins DadL Offline
                                        LuFins DadL Offline
                                        LuFins Dad
                                        wrote on last edited by
                                        #578

                                        @Horace said in Trumpenomics:

                                        Senator Kennedy begs Trump to take deals and end the tariffs:

                                        Link to video

                                        The comments are disturbing.

                                        The Brad

                                        Doctor PhibesD 1 Reply Last reply
                                        • LuFins DadL LuFins Dad

                                          @Horace said in Trumpenomics:

                                          Senator Kennedy begs Trump to take deals and end the tariffs:

                                          Link to video

                                          The comments are disturbing.

                                          Doctor PhibesD Online
                                          Doctor PhibesD Online
                                          Doctor Phibes
                                          wrote on last edited by
                                          #579

                                          @LuFins-Dad said in Trumpenomics:

                                          The comments are disturbing.

                                          I shouldn't worry, you're sampling a subset of people who feel the best use of their time in contributing to this debate is to post remarks on YouTube.

                                          I was only joking

                                          JollyJ 1 Reply Last reply
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