OT: Tariff Economics Discussion
- Thread starter scott in nashville
- Start date
The industries of yesterday are not the industries of tomorrow. Expecting steel and basic manufacturing to come back to the United States is a view that is utterly detached from reality unless you also expect the standard of living and technological basis of our society to revert 50+ years as well. Either we will be able to afford the cheap things made elsewhere and find new things to make here or we will go back to making the cheap things here and prices will rise while wages fall and other countries will slingshot past us making the new things.
There is no “going back” to the 1950’s by this. There is only transformation to a struggling poor backwater economy like Russia. Billionaires have the resources to ride out the storm. Regular joes posting on college football forums are going to lose their retirements, maybe their jobs, maybe their homes, maybe everything. We will own nothing and the billionaires and their cronies in Congress will swoop in and buy up the ashes for pennies on the dollar.
This is precisely what happened in Russia after the USSR collapsed, the old communist party made men and mobsters became billionaire oligarchs who dismantled the entirety of a former superpower’s state infrastructure for profit overnight during the privatization push.
GDP is though and it’s currently forecasted to contract.
Oil down 15%. Most likely will see interest rates below 3%.
Not likely. We’re headed for an inflationary spiral unless some of the Republican cucks in Washington wake up and stop the idiocy.
Inflation is the result of an upwards shift in the ratio of money to goods. Tariffs are set to drastically reduce the amount of inventory across nearly all sectors, rate cuts would throw gas on an already dangerously hot fire.
Opinions are like butt holes, we all have one. I respect everyone's right to an opinion. We have a disagreement here but Trump campaigned on this and he won. We will see his plan implemented and see the results. I believe Trump is correct.
Once again your opinion. I will own it if I am wrong but that doesn't matter anyway and we are nowhere any verdict. Let's look back a year from now and see what the situation is.
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It’s fascinating how all the sudden certain people are concerned about “potential” inflation when we had record real inflation the last few years and not a peep.
The inflation that we had followed Trump's bungling of a response to the pandemic, and the same machinations that allowed for the inflation prevented the overall economy from going into a freefall en masse. The fact that Biden's presidency kept the US out of recession was damn near a miracle, and we not only avoided recession but ramped up an economy that was the envy of the free world. Inflation was clearly trending in the right direction over the latter part of the Biden term as the US macroeconomy rebounded in ways that other industrialized nations did not postpandemic.
Right…
- Inflation Above Fed’s Target: For 42 straight months, inflation was above the Federal Reserve’s 2 percent target.
- Inflation Higher Than Wages: Inflation outpaced wages for 26 straight months under the Biden-Harris Administration
Rate cuts are even worse idea given the tariffs. They tend to devalue the dollar and make the cost of importing even higher.
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Yeah, the idiots who can’t spell 401k aren’t losing a ton of money because Donald Trump decided to nuke the economy. They’ll have their fun when prices come up though.
Why hire more workers when you can automate and charge everyone more because there’s no foreign competition?
As I’ve said previously, Donald Trump could create a million jobs tomorrow by promising a 100k salary to ditch diggers to expand the Grand Canyon. There is a point where a job isn’t worth the money that went into making it. That’s what happened the first tariff go around. We made a more jobs building washing machines to the tune of 800k a piece.
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Did he really say this or is this a parody?
Have seen the joke made that you don’t have to worry about the capital gains tax if there are no capital gains (stock market joke). So wasn’t sure.
You really think the other companies won’t raise prices?
Scott Bessent is one of the world’s most highly respected macro hedge fund managers. He focuses on broad economic trends, and how they affect global markets. No one understands markets like him. He is literally known for his ability to make strategic high-conviction bets in global markets.
The other thing Bessent is known for is being able to balance aggressive risk by diluting it with careful analysis and proper hedging strategies. This is why he was so successful in helping Soros Asset Management when he worked for Soros to avoid major losses during very market periods (given Soros’s pension for risk taking).
Bessent is also worth over 700 million dollars and based on his financial disclosures 75-85% of his investment portfolio is US assets such as the SPDR S&P 500, Archer Daniels Midland and Verizon.
He is President Trump’s chief financial advisor. He knows what he is doing.
Who? I was fully on board with the fed’s approach to post-COVID rates and fully aware of the issues that massive direct monetary stimulus and global supply chain issues cause in the prolonged low rate environment that we had up until 2021.
“But inflation was bad in 2021-22!” Isn’t the argument that you seem to think it is in favor of the current admin doing their best to create a worse set of similar macroeconomic conditions.
Oh here we go, confronted with evidence that he’s actually super fvcking wrong, Growls is going to spam post the first 90 tweets on his Twitter feed to every thread.
Total NPC behavior.
Total NPC behavior.
😆 🤣 😂
You write halfway decent but the content sucks. I can't help you if you are locked in on the losing side of the argument. We will be here to welcome you all back into the majority if you ever wake up.
NPC???? LOL!!! Did make me laugh a little.
My my.....TDS in full gear resorting to name calling when you can't win the argument.
I do agree that it may temporarily increase prices and risks permanent price increases.
However, it doesn’t HAVE to. It would be theoretically possible to not raise prices. So let’s look at the facts. Dems are all bashing Trump about inflation, yet so far it has done nothing but get crushed under his term. Truflation.com
We must acknowledge that while tariffs are inflationary, there are many other deflationary forces working, like DOGE.
If Trump successfully navigates the economy and keeps inflation low and gets the economy humming, where will that leave democrats who have done nothing but complain the whole time?
Democrats still have no leadership and no ideas on how to fix the economy. They wanted to keep kicking the can like they did for the last 16 years. The wanted to pass BBB in the face of the worst inflation in 50 years.
They wanted to keep taxing you via inflation as long as your stock values were artificially inflated.
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I think they will work to gain market share with competitive pricing against the foreign brands that may have increased costs.
It’s funny you only understand cap gains tax in regard to the stock market.
Didn’t say it was my joke. Was genuinely asking because I’ve seen the joke.
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