This may be the most bone-headed thing Trump has done as president. It will cost jobs and lower GDP.
Yes, he is a moron.
- Thread starter The Barbarian
- Start date
This may be the most bone-headed thing Trump has done as president. It will cost jobs and lower GDP.
glorydaz
Well-known member
Trump has been saying it for years, and lots of people agree with him. I see Lou Dobbs has Wilbur Ross on, and they both agree totally with him. Besides, I'm sick of having a bunch of daffodils too afraid to act to make America Great Again.
WizardofOz
New member
Please explain how this is good economic policy in the long run.
WizardofOz
New member
I'm less concerned about who agrees with him (for every one who does, there are likely ten who do not). Not to mention, Wilbur Ross is the commerce secretary so of course he's going to tow the company line.
Rather, explain how these tariffs are going to help make America great.
glorydaz
Well-known member
It's called FAIR TRADE. I realize the word "fair" is only a talking point with you libs.
WizardofOz
New member
You're repeating meaningless talking points. How will tariffs help make America great again?
If you have no idea just say so.
glorydaz
Well-known member
Our own steel and aluminum companies will grow stronger if we're not shipping in cheaper and lower quality products from out of the country. Plus, they'll give in and make fairer deals.
You speculations are based on fear....
edit to add... I'm far from an expert on economics, but I think some bold steps need to be taken. Anyway, it hasn't been done yet, has it. Knowing Trump, it may just be a false flag.
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I really find it hard to believe that you know ANYTHING about ANYTHING except how to be a "Far-left zealot" with a GIGANTIC chip on his shoulder.
My post was not an argument either for or against-it was an assessment of the bias, deception, on the part of the press, media, and thus Babbs, on Trump.
Well, let's take a look...
NASDAQ says...
Trump's New Tariffs In Focus
March 02, 2018, 10:28
The North American Free Trade Agreement would be immediately affected by these tariffs, as Canada is the biggest steel and aluminum importer to the U.S. in the world (16% steel, 43% aluminum). Currently, our closest ally and trading partner hopes to work out certain exemptions - or at least reassurances - regarding these purported tariffs, that they won't be held to such an extreme new standard. This is especially considering there's no secret who Trump's target of these tariffs really is: China.
Since the early days of his presidential campaign, Trump has said he'd get tough with China, who he claims has taken advantage of trade with the U.S. over decades of non-action from previous administrations. So these tariffs are clearly a way Trump sees to help neutralize Chinese interest on steel imports. Besides this, obviously import tariffs would help domestic steel makes, like Nucor NUE and U.S. Steel X greatly.
However, though the steel industry in this country hires roughly 140K workers, that's a drop in the bucket compared to the 6.5 million workforce engaged in steel usage. Chief among these is the automobile industry, which relies greatly on steel and aluminum products. Higher prices for these materials would lead to higher prices for cars and trucks, and this sort of chain reaction through the economy is precisely why the market is having a problem digesting this news.
Currently, the Dow is down another 200 points in today's pre-market, the Nasdaq is 80 points off its Thursday close and the S&P 500 down 20 points. It's unlikely this issue will enjoy a swift correction in normal trading hours, so as long as this remains the main pressure on stocks today, we expect to close in the red again to end the week.
https://www.nasdaq.com/article/trumps-new-tariffs-in-focus-cm929319
Skyrocketing....
Things picked up a little by closing on Friday, but not enough to cover losses...
President Trump's trade war threat drove the Dow lower for the second straight day.
The Dow fell as much as 391 points on Friday, but it recovered most of those losses and finished down 71. The Nasdaq and the S&P 500 both ended with modest gains after falling 1% earlier in the day.
http://money.cnn.com/2018/03/02/investing/stock-market-dow-today-trump-tariffs/index.html
Confirmed-deception. 550 points was 2%, and you deceptively only do you're selective, "Chicken Little" clown act, con job, when the market takes a drop, that many times, has NADA to do with what the so-called "experts" say caused it, as you/biased press, media were silent when the Dow Jones industrial Average, from the 11/8/2016 pre-election close of 18, 259, until the 26,616 1/26/2018 close, had "non plummeted" 45.7%, and is still up 34.4% since that mean old "The Donald" was installed as dictator, by, yes, your fellow Americans.
What don't you walk around your neighborhood, knock on the doors of those who voted for Trump, and complain to them, "face to face," on the obvious danger they are causing the U.S., by voting for Trump,and give them "a piece of your mind?"
Yeh...I thought so.
Charlatans.....every last one of them, as is this "thread."Most of the media/press/you(?) wouldn't know the difference between the Chairman of the Fed., and Frank Sinatra, or Warren Buffet, and Jimmy Buffet.
I know, I know....Watch, you moron, as the market will drop......
Right....Such brilliance...That is what markets do.
Carry on.
Zeke
Well-known member
The Bankruptcy of USA INC – 1930′ s • USA INC, after being pillaged and bankrupted by the Federal Reserve banking cartel [8], turned over the entire country – including the people – as collateral on its corporate debt in 1933 and bound the individual states to ‘its’ bankruptcy obligations. [9] • USA INC gave its CEO (the President) the authority to call a national emergency (a banking ‘holiday’) and establish Executive Branch ‘agencies’ to manage the state of emergency. The “national emergency” has never been removed and is still in effect. [10] Hence we have far reaching unconstitutional “Executive Orders”. • USA INC declared the American people “enemies of the state” to force them to surrender their gold [11] and use Federal Reserve debt ‘notes’ as currency [12] • USA INC issued Birth Certificates and Social Security Numbers whereby making the people registered ‘collateral’ for the payment of the debt owed to the same banking cartel • USA INC started requiring the American people – as enemies – to get licenses to do business • USA INC gradually altered the legal system and implemented corporate commercial Admiralty law (aka statutory law) throughout all of the states, counties and municipalities. [13] Statutes are for THEIR corporations and agencies. They only apply to us if we agree to contract with them. [14] Then in the 70’s – 80’s USA INC (posing as a legitimate government) removed the gold standard from the dollar, tricked the states into sending their tax revenues to the District of Criminals (‘revenue sharing’) and even authorized the Department of Defense to wage war on the general population.
Everyone is a moron who ignores the real issues while debating two party personalities that keep you diverted from the real reasons that caused the police state.
Everyone is a moron who ignores the real issues while debating two party personalities that keep you diverted from the real reasons that caused the police state.
He is a commie!
What "Universe" do YOU consider, YOUR particular residence?
Lon
Well-known member
:chuckle:
WizardofOz
New member
Who is "they"?
It is simply strange as Republicans normally support free trade. These tariffs would certainly benefit worker's unions who are employed in these industries. Another rather odd bedfellow for a GOP White House. Meanwhile, any product associated with steel or aluminum is going to become more expensive. This is going to benefit very few Americans at an increased cost to every American who purchaes products that require steel and/or aluminum.
So, who really benefits?
What is my speculation? Please explain? Prior to the above I simply asked anyone here to defend these tariffs and explain why they are good economic policy.
Bold steps need to be taken to what end?
Could be. Perhaps he's trying to pressure foreign governments to stop suppressing their currencies. However, we only import about 2% of our steel from China. Canada would be the nation impacted the most.
What do you mean by 'false flag'? What is Trump trying to accomplish with this little trade war?
| Higher tariffs have encouraged other U.S. manufacturers to seek out cheaper substitute materials to avoid the higher cost of steel that often results.Or they’ve tried to pass the cost onto customers. And in the worst-case scenario they’ve had to reduce production or layoff workers to cope with higher steel prices. Most American manufacturers oppose the new tariffs. The Business Roundtable, a lobbying group for the largest American companies, said it strongly disagrees with decision “because it will hurt the U.S. economy and American companies, workers and consumers by raising prices and resulting in foreign retaliation against U.S. exporters.” Source |
WizardofOz
New member
Weighty.
So his announcement of tariffs on steel and aluminum didn't impact the market much, in your esteemed estimation?
Go have a natty.
glorydaz
Well-known member
Who is "they"?
It is simply strange as Republicans normally support free trade. These tariffs would certainly benefit worker's unions who are employed in these industries. Another rather odd bedfellow for a GOP White House. Meanwhile, any product associated with steel or aluminum is going to become more expensive. This is going to benefit very few Americans at an increased cost to every American who purchaes products that require steel and/or aluminum.
So, who really benefits?
What is my speculation? Please explain? Prior to the above I simply asked anyone here to defend these tariffs and explain why they are good economic policy.
Bold steps need to be taken to what end?
Could be. Perhaps he's trying to pressure foreign governments to stop suppressing their currencies. However, we only import about 2% of our steel from China. Canada would be the nation impacted the most.
What do you mean by 'false flag'? What is Trump trying to accomplish with this little trade war?
Higher tariffs have encouraged other U.S. manufacturers to seek out cheaper substitute materials to avoid the higher cost of steel that often results.Or they’ve tried to pass the cost onto customers. And in the worst-case scenario they’ve had to reduce production or layoff workers to cope with higher steel prices.
Most American manufacturers oppose the new tariffs.
The Business Roundtable, a lobbying group for the largest American companies, said it strongly disagrees with decision “because it will hurt the U.S. economy and American companies, workers and consumers by raising prices and resulting in foreign retaliation against U.S. exporters.”
Source
This is all above my pay grade.
I'm just so tired of people always assuming the worst, when, so far, Trump has made a real difference in the growth of the economy.
Well, let's take a look...
So the growth rate from the Obama years continues. In all fairness, the first year of a president's administration is really the result of the previous administration. So we'll see how 2018 plays out. Notice that everything after 2017 is projected. If Trump does a lot better or worse than that, we'll know that he did indeed make a difference. Let's see how that goes.
glorydaz
Well-known member
Well, let's take a look...
So the growth rate from the Obama years continues. In all fairness, the first year of a president's administration is really the result of the previous administration. So we'll see how 2018 plays out. Notice that everything after 2017 is projected. If Trump does a lot better or worse than that, we'll know that he did indeed make a difference. Let's see how that goes.
Okay. You can keep me posted.