Trumpenomics

[jon-nyc]

Wait, I thought foreigners paid the tariffs.

[89th]

I know this is wasted CO2 at this point but how does Trump have the "power" to point to a specific company and tell them they're going to pay a 25% tax on their products?

[Axtremus]

I vaguely recall there is a political ideology that says the government centrally controls what you produce. What's that called again?

[jon-nyc]

Of course it would cost way more than 25% of the iPhone price just to manufacture them here, to say nothing of the cost of building new plants, etc, to accommodate a policy that will be voided by the next administration. So we'll get more expensive phones AND no jobs.

Win-win!

[Horace]

Tim Cook made a valiant effort to explain things to him in the white house last week, but apparently to no avail. Trump lives in his own economic reality. So, this will just be a drag on America's greatest company, to no benefit to anybody, other than maybe Apple's international competition.

[Axtremus]

@Horace said in Trumpenomics:

So, this will just be a drag on America's greatest company, ...

No, this will not be a drag on the Trump Organization.

[jon-nyc]

And foreign governments know this too.

[LuFins Dad]

@Axtremus said in Trumpenomics:

I vaguely recall there is a political ideology that says the government centrally controls what you produce. What's that called again?

The Democrat Party. Congratulations on getting a Democrat in the White House.

[Axtremus]

Back to 50% tariffs for the EU.

https://truthsocial.com/@realDonaldTrump/114556968834547173

... Our discussions with them are going nowhere! Therefore, I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025. ...

[Horace]

I opened my trading app and saw futures were up a little. So naturally I went straight to truth social.

What I am relieved by about this one, is that the setup and rug-pull happened entirely between sessions. No chance of cronies trading inside info.

[Axtremus]

New terminology for the market: the TACO trade.

https://www.cbsnews.com/amp/news/trump-taco-trade-trump-always-chickens-out-what-it-means/

[LuFins Dad]

That’s a stupid approach to take from a markets analyst. He’s actually trying to goad Trump into not reconsidering tariffs and to pull the trigger…

[Axtremus]

Hmmmm .....

https://finance.yahoo.com/news/a-us-trade-court-just-blocked-a-wide-swath-of-trumps-tariffs-here-are-the-duties-that-may-be-impacted-014546260.html

Court of International Trade halted Trump's tariffs.

[Horace]

Presenting a unified and confident front to the rest of the world in our unilaterally declared world trade war over nothing.

[jon-nyc]

@Axtremus said in Trumpenomics:

New terminology for the market: the TACO trade.

It’s getting memed a lot now.

Maybe the real liberation was all the tacos we ate along the way.

[89th]

What's more concerning is Trump wasn't aware of the TACO acronym until a reporter had to explain it to him. I know he doesn't, but he would do very well to have some sort of brave employee telling him the reality "out there" so he's at least aware. But dare we interrupt his false reality...

[Horace]

@LuFins-Dad said in Trumpenomics:

That’s a stupid approach to take from a markets analyst. He’s actually trying to goad Trump into not reconsidering tariffs and to pull the trigger…

Plenty of people out there hoping Trump damages the economy as much as possible. I'm sure they'll take the opportunity to goad Trump into more macho tariffs.

[Axtremus]

Trump says he plans to double steel, aluminum tariffs to 50%
https://www.reuters.com/business/trump-says-he-plans-double-steel-tariffs-50-2025-05-30/

[jon-nyc]

[LuFins Dad]

And yet his popularity is still higher than at any point his first term.