Trumpenomics

[Horace]

Count John Stossel, boomer conservative, in with those who don't think the tariffs are a good idea. The set of people who like them remains limited to Trump and exactly two of his advisors.

Link to video

[89th]

I've enjoyed Stossel's segments ever since his "give me a break" segments during 20/20 back in the 90's.

[jon-nyc]

I’ve been reading him at Reason for years.

[Copper]

The importer doesn't like tariffs.

Wow.

[Horace]

@Copper said in Trumpenomics:

The importer doesn't like tariffs.

Wow.

It's so typical that when you punch someone in the face, they'll just whine about how much it hurt. They have no idea how predictable and tedious that whining is. It happens almost every time someone gets punched in the face.

[Doctor Phibes]

@Copper said in Trumpenomics:

The importer doesn't like tariffs.

Wow.

Copper doesn't like it when people criticise President Trump.

Wow.

[Renauda]

@Horace said in Trumpenomics:

@Copper said in Trumpenomics:

The importer doesn't like tariffs.

Wow.

It's so typical that when you punch someone in the face, they'll just whine about how much it hurt. They have no idea how predictable and tedious that whining is. It happens almost every time someone gets punched in the face.

Then just throw him an elbow to the head and keep your eye on the play. Works for me.

[Copper]

Better than Pete Rose, and still alive. (The rumor is that Mr. Trump got the ban lifted).

[jon-nyc]

One out of four of those is actually true.

Welcome home, Edan.

[Renauda]

Edan should be thanking Copper. Profusely thanking Copper.

[jon-nyc]

And the Indians and Pakistanis that are suffering from radiation burns from the nuclear conflict they experienced should thank him too. VP Shillbilly and Copper. Both of them.

[Doctor Phibes]

OMG HE STOPPED FENTANYL!

HE WON THE WAR ON DRUGS.

[jon-nyc]

This jives with what I gleaned from a call with the CIO of Merrill about a week ago. They have access to all the BofA retail info which touches about a quarter of all consumers.

They said that the top 10% of earners’ spending is up 7% yoy while the bottom 90% have been retrenching.

[Horace]

[jon-nyc]

I’ll admit to being a little surprised. It’s not obvious why they should have been retrenching in Q1. The fear of tariff-related inflation and job losses is more of a future concern. You’d also expect higher income people to be more clued in on the risks than the common man.

[Axtremus]

It's unprecedented! It's historical!

https://www.washingtonpost.com/business/2025/05/14/trump-tariffs-china-trade/

Since the inauguration on Jan. 20, Trump administration officials have announced new or revised tariff policies more than 50 times, according to a tally by The Washington Post. (A separate tally by Reed Smith, a law firm, has found about 55 such actions.) Trump has issued more than a dozen tariff-related executive orders, or about one per week ..:

[Axtremus]

@jon-nyc said in Trumpenomics:

I’ll admit to being a little surprised. It’s not obvious why they should have been retrenching in Q1. The fear of tariff-related inflation and job losses is more of a future concern. You’d also expect higher income people to be more clued in on the risks than the common man.

Common men fear for the future and tighten belts right away; higher income people say let's buy more and stock up before tariffs get real?

[jon-nyc]

Sure, but that assumes the common man and the higher income folks both have similar intuitions that tariffs are going to harm them economically in the immediate future.