OT: Tariff Economics Discussion
- Thread starter scott in nashville
- Start date
TRUTH!!!
For perspective:
The US stock market isn’t dropping because of Trumps Tariffs.
It’s dropping because the top 3% of US based income earners, who collectively bought up and then laid off the majority of middle-America-manufacturing, and who then spent hundreds of billions of dollars and 40+ years lobbying for the permanent offshoring of every American job, are now losing their pocketbook rear-over-teakettle in a mad dash to undo decades of their own anti-American behavior.
For perspective:
The US stock market isn’t dropping because of Trumps Tariffs.
It’s dropping because the top 3% of US based income earners, who collectively bought up and then laid off the majority of middle-America-manufacturing, and who then spent hundreds of billions of dollars and 40+ years lobbying for the permanent offshoring of every American job, are now losing their pocketbook rear-over-teakettle in a mad dash to undo decades of their own anti-American behavior.
The top 10% of American households own 88% of the total equities owned by American households.
The next 40% of households own 12%.
This means the bottom 50% of Americans have ZERO interest in the stock market, are likely in debt and, simply, just want to do better.
This reinforces what Bessent has said earlier that the stock market “is a Mag7 problem not a MAGA problem.”
If fixing the system is about fixing what isn’t working for them, then don’t expect a magic lifeline for equities.
Conventional wisdom has been that there is always a Fed put or a White House put if the stock market contracts enough but this may be a moment to hold a radical new view which is that the put is off the table.
In a few weeks I will remind you who is hilariously dumb DUMBO
This is going to be contrary but I could not be happier with what is going on.
The US was in a world of hurt financially. We all knew it. We all knew that the market was artificially inflated during COVID with the realization there was a “Fed Put”. That is, ever since W Bush, the government has stepped in to bail out falling markets. What we didn’t know was when the bubble would correct.
All our shit is made in China. We all complain about it. “Cheap Chinese shit” flooding our markets. But no one has ever had the will to force change.
We complain about low wages here in America.
We complain about the class divide..
We complain about Wall Street.
But everyone loves the status quo. No o e wants the pain required to fix all that.
I’m just overjoyed that someone is saying damn the torpedos we just aren’t going to do it that way anymore. We tried that way for 40 years and look where it’s gotten us? We all agree it’s not a sustainable place.
We need to get back to an honest economy. No more NGO’s fleecing the taxpayer. No more inflation to fleece the tax payer. No more hollowing out the middle class.
What’s hilarious to me is that these are all democratic objectives. The left should be happy and the right should be mad. Trump is essentially taking from Wall Street and giving to Main Street. But it seems to be the opposite.
It’s so nice to not answer to the deep state and not to answer to Wall Street. Trump answers to what he campaigned on. And I love it.
The US was in a world of hurt financially. We all knew it. We all knew that the market was artificially inflated during COVID with the realization there was a “Fed Put”. That is, ever since W Bush, the government has stepped in to bail out falling markets. What we didn’t know was when the bubble would correct.
All our shit is made in China. We all complain about it. “Cheap Chinese shit” flooding our markets. But no one has ever had the will to force change.
We complain about low wages here in America.
We complain about the class divide..
We complain about Wall Street.
But everyone loves the status quo. No o e wants the pain required to fix all that.
I’m just overjoyed that someone is saying damn the torpedos we just aren’t going to do it that way anymore. We tried that way for 40 years and look where it’s gotten us? We all agree it’s not a sustainable place.
We need to get back to an honest economy. No more NGO’s fleecing the taxpayer. No more inflation to fleece the tax payer. No more hollowing out the middle class.
What’s hilarious to me is that these are all democratic objectives. The left should be happy and the right should be mad. Trump is essentially taking from Wall Street and giving to Main Street. But it seems to be the opposite.
It’s so nice to not answer to the deep state and not to answer to Wall Street. Trump answers to what he campaigned on. And I love it.
Last edited:
@fatpiggy
Dear Sir
As much as people are aghast snd thinking Trump is suicidal I am loving the bold direction being taken to cure the direction of this country
To be clear I am all in on Conservative Christian Fiscally Responsible Pragmatic Values with opportunity equality for all with meritocracy as the yardstick to judge
Not a person who is stuck on perfect but on compromise and the best choices being made from the many
Not one to panic at the first hint of a problem as circumstances and people will create problems to undermine a good goal to support their own bad goal
The ranting on here about the end of times in regards to tariffs is overblown by the weak of heartl
Enjoying every minute and don’t like what Trump and the MAGA movement is doing
I LOVE WHAT IS BEING DONE
THE DOGE AUDIT IS THE BOMB
GO TIGERS
Dear Sir
As much as people are aghast snd thinking Trump is suicidal I am loving the bold direction being taken to cure the direction of this country
To be clear I am all in on Conservative Christian Fiscally Responsible Pragmatic Values with opportunity equality for all with meritocracy as the yardstick to judge
Not a person who is stuck on perfect but on compromise and the best choices being made from the many
Not one to panic at the first hint of a problem as circumstances and people will create problems to undermine a good goal to support their own bad goal
The ranting on here about the end of times in regards to tariffs is overblown by the weak of heartl
Enjoying every minute and don’t like what Trump and the MAGA movement is doing
I LOVE WHAT IS BEING DONE
THE DOGE AUDIT IS THE BOMB
GO TIGERS
How do you know? Same people using the same methodology produced these estimates just like the last few years. We have been lied to for so long, including right now, that the truth is almost unknowable.
I guess we wait and see then. I trust this administration to get it right.
Why does Nike have to make their shoes in China where they make them for 1/3 of the cost but still sell them to the American consumer for $200? They don’t.. except for it’s cheaper to do things in China because you can use slave labor. Well, now it’s not gonna be cheaper because there’s gonna be tariffs on it and if you want to avoid the tariffs, you’re gonna have to freaking bring manufacturing back to the United States of America.
They did it for greed and power.
Think for a minute what is at stake. If Trump's tariffs work, that means that for the last 40 years, all of our leaders left most of the country go through massive pain and economic hell for absolutely no reason. You know, kind of like how they lied about not being able to protect the border for the last 40 years.
Think for a minute what is at stake. If Trump's tariffs work, that means that for the last 40 years, all of our leaders left most of the country go through massive pain and economic hell for absolutely no reason. You know, kind of like how they lied about not being able to protect the border for the last 40 years.
Says the conspiracy theorist who worships a man who takes his marching orders from Laura Loomer and gets his economic lessons from Insurrection Barbie.
PORTNOY 2016: "There I said it. I am voting for Donald Trump. I don’t care if he’s a joke. I don’t care if he’s racist. I don’t care if he’s sexist. I don’t care about any of it. I hope he stays in the race and I hope he wins. Why? Because I love the fact that he is making other politicians squirm. I love the fact he says shit nobody else will say regardless of how ridiculous it is. I love the fact he went all in on Megyn Kelly today. And let’s be honest. My day to day life isn’t gonnna change that much no matter who gets elected.
what do our lefties think about this statement? @dpic73 our go to source for the left.
@yoshi121374 would like to hear your thoughts too
@yoshi121374 would like to hear your thoughts too
Dude I'm not a source for anything, just a guy with opinions like most on this board. But I will say as the sanest member of Trump's cabinet, I do believe what he's saying is true but I felt like we were on the road to fixing those inequities and I believe Trump's non-plans will only make them worse.
I LOL'd at his last statement "One of the things we will have done but won't get credit for is avoiding a financial calamity"
Too late, it only took two months and Americans have lost 10 TRILLION dollars in wealth and we have a president who doesn't give a sh*t.
I called you the source in jest. Just wanted your opinion.
It seems that the left has always hated “Wall Street” …. I remember walking through the occupy Wall Street protests on the way to work for weeks.
Now someone is doing exactly what yall were asking for and everyone is pitching a fit.
What am I missing?
You say “on the road to fixing those things” but there is no evidence to support that at all and a lot of evidence suggesting we were on a path to bankruptcy.
Do you think he isn't going to echo what his boss says?
That doesn't typically work in Trump Land where loyalty is above all, except when that loyalty is needed to be reciprocated...
I’m not sure I understand your point?
Trump hired him because he was a macro economic guy.
We had a roaring economy, supply chains were recovering, wages were going up and inflation was coming down(spare me your tenths of a decimal point rebuttal).
"I recently showed in the Washington Monthly how Biden easily eclipses Trump in categories such as how much the economy has grown, how much businesses have invested, how much consumers spent after inflation, how many jobs businesses created, and how many new enterprises entrepreneurs started. In every case, Biden’s superior record stands—even if Trump gets a pass for 2020 when the COVID-19 pandemic ravaged the global economy.
However, most voters judge a president’s economic performance by other metrics, namely how much money they’ve earned and how much they can afford to buy with it. Biden easily beats Trump by these metrics as well, too. Focusing on wages and salaries, for example, working Americans earned an average of $3,250 more per year from 2021 to 2023 than from 2017 to 2019, and that’s taking inflation into account."
Based on Incomes, Americans Are a Lot Better Off Under Biden Than Under Trump | Washington Monthly
Despite a spurt of high inflation that has dramatically receded, Joltin’ Joe’s economy is far more robust than that of his oft-indicted predecessor.
washingtonmonthly.com
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