It's the economy, stupid.

[GoCubsGo]

I dove by the local Tesla dealership a couple of days ago, must've been ten cybertrucks on the lot.

Never seen that before.

[GoCubsGo]

This.

[Vrede too]

This.

https://bsky.app/profile/nytimes.com/post/3loluwvb2zk2h

Is the King Tang Admin* economic data still reliable?

[GoCubsGo]

This.

https://bsky.app/profile/nytimes.com/post/3loluwvb2zk2h

Is the King Tang Admin* economic data still reliable?

Like all government economic data, it's lagging.

AFAIK he hasn't tried to mess with it but I wouldn't put it past him.

[GoCubsGo]

Huge nothingburger, but DonOld will beat his chest and tout it as a huge win. The markets may even react negatively by days end.

We run a trade surplus with the UK and it's nothing comprehensive.

[Whack9]

Scott Bessent struggles to answer who pays for tariffs. He's not stupid. He knows the answer. But you can't go against Daddy Trump.



Sometime in the future: Trump decrees sun in fact rises in the West. GOP nods in agreement in their continued struggles against objective reality.

[GoCubsGo]

Sometime in the future: Trump decrees sun in fact rises in the West. GOP nods in agreement in their continued struggles against objective reality.

Maybe next week.

This week they're busy trying to redefine racism.
https://blueridgedebate.com/viewtopic.p ... 8b#p213103

[O Really]

Story has it they asked Trump if indeed the sun did rise in the the East and he said "I don't' know. My very smart lawyers tell me some say it does, but we'll have to look into it." It could rise in the West; maybe it's not even the sun, who knows? But I'm gonna rename it the "trump" anyway.

[Vrede too]

Huge nothingburger, but DonOld will beat his chest and tout it as a huge win. The markets may even react negatively by days end.

We run a trade surplus with the UK and it's nothing comprehensive.

Trump Boasts Of New Deal That Triples Taxes On Americans Buying British Products
The agreement will result in $6 billion in new taxes that Americans will have to pay for goods from the United Kingdom.


Detroit Three automakers blast Trump UK trade deal
Opps!

Economics Professor Utterly Shreds Donald Trump’s Trade Chaos In 5 Seconds Flat
University of Michigan's Justin Wolfers also warned why "everything we buy is at risk."

Justin Wolfers, a University of Michigan economics professor, offered a short but biting summary of President Donald Trump’s unpredictable trade policies on Wednesday, warning they could help trigger a recession....

“We have tariffs, then we don’t. Then we’re on a pause. Then we’re not. Then we’re going to make deals. And actually, we’re not going to make deals — I’m just going to say a new number.”

Wolfers said that both families and businesses are “frozen in place,” unable to plan budgets or make purchasing decisions amid the uncertainty.

That paralysis, he warned, “potentially is the start of a recession.” ...

https://www.youtube.com/watch?v=5OI9CMiHb1Y

Conservative radio host and pundit:


"a pretty shitty deal"

[O Really]

I don't claim to know anything much about international trade, but it seems to me that most other people don't, either - especially those supporting Trump's randomized and arbitrary tariff ummm, "plan." Tariffs on foreign-made products have a positive effect only when there are domestic products in a viable competition in the market. So when you had a roaring and robust US steel industry, driven by the likes of US Steel, Bethlehem Steel etc. and powered by the once-strong United Steelworkers, maybe putting a tariff on US sales of (cheaper) foreign steel would have had a positive effect - protecting domestic companies from having to compete on a price-only basis. Given a choice of US steel vs. foreign steel at the same effective price would make it much more likely to buy US steel.

OKfine. But if there is no viable US competition and the only producer of a product is in Bumfuque, what possible value is there in putting a tariff on those imports. It raises the price to consumers of the only product they have available to buy.

And let's say you're an American company selling widgets. You may have once gotten your widgets made in America, but for a variety of reasons, mostly various costs, you now get them made in China. Even if a huge tariff evened out the retail price of your widgets to what it would have been if you'd kept getting them made in America, it's not helping your business - it's just more money to the government, and lower sales - maybe terminally low - to you.

And even if you somehow are able to get widgets made again in the US, you're still going to have the tariff on parts and materials necessary to build them - again raising your costs, consumer price and for no value to your business.

Now let's get as simple as possible: You're a vertically integrated US business that manufactures widgets from American parts and by American labor. You'd stay in the US except that you can't get labor for the wages you're willing/able to pay. So you move your manufacturing to Mexico for cheaper labor. But you don't sell your US plant, and you keep in touch with your US suppliers on the miniscule chance that suddenly labor costs will drop. Then one day poof! Trump puts tariffs on your Mexican widgets and the tariff offsets the labor cost you would have had in the US. Oh glory day! You pack your gear, cancel and renegotiate all supplier contracts, move back to your old plant and hire an entire new workforce. Does that seem likely? Yet that is the scenario the president* of the US is using to make his tariffs "beautiful" and let everybody "get so rich."

Textiles used to be a dominant northeast product, but for cheaper land and labor, companies moved south. When land and labor got expensive there, did they move back to New England? Nope. Did they move their companies in entirety off to Bangladesh? Nope, they contracted out the work. They no longer own the actual means of production of their own product. So moving "back" to the US would be, literally, starting over.

Really a stable genius idea, DonOLD.

[GoCubsGo]

Really a stable genius idea, DonOLD.

Not too mention he doesn't seem to understand that a trade deficit doesn't mean other countries are ripping us off.

[1 CAT FAN]

Really a stable genius idea, DonOLD.

Not too mention he doesn't seem to understand that a trade deficit doesn't mean other countries are ripping us off.

Before the tariffs, did you notice the number of cargo ships coming in from other countries, mainly China. No, of course not. You enjoy being dependent on other countries?

[1 CAT FAN]

I don't claim to know anything much about international trade.....

Textiles used to be a dominant northeast product, but for cheaper land and labor, companies moved south. When land and labor got expensive there, did they move back to New England? Nope. Did they move their companies in entirety off to Bangladesh? Nope, they contracted out the work. They no longer own the actual means of production of their own product. So moving "back" to the US would be, literally, starting over.

You prefer that they stay in other countries? You prefer that their citizens have those jobs?

[neoplacebo]

I find it quite fascinating at how magats, even after having something explained to them,, still don't get it while at the same time swallowing all the trump LAW without question.

[1 CAT FAN]

Neo, your hominy is just gonna have to pay a little more for his rainbow colored costumes for his book readings with children.

Neo, have you had your daily dose of illicit drugs today?

[Vrede too]

I find it quite fascinating at how magats, even after having something explained to them, still don't get it while at the same time swallowing all the trump LAW without question.

"fascinating"? That's the definition of MAGAts.

Looks like you hooked one. Good job, explain something to her/him.

[neoplacebo]

I find it quite fascinating at how magats, even after having something explained to them, still don't get it while at the same time swallowing all the trump LAW without question.

"fascinating"? That's the definition of MAGAts.

Looks like you hooked one. Good job, explain something to her/him.

They are extremely easy to hook. Almost like those loony fish that jump out of the water right into the boat. One throws back the little ones and pan fries the big ones. It's really no use trying to explain anything to any of them....they've been convinced that they are victims of all things; especially things they don't understand or have been told not to like.

[1 CAT FAN]

Explain your Superstar Culmaster's fucked up rainbow avatar.

Hominys.

[Vrede too]

I find it quite fascinating at how magats, even after having something explained to them, still don't get it while at the same time swallowing all the trump LAW without question.

"fascinating"? That's the definition of MAGAts.

Looks like you hooked one. Good job, explain something to her/him.

They are extremely easy to hook. Almost like those loony fish that jump out of the water right into the boat. One throws back the little ones and pan fries the big ones. It's really no use trying to explain anything to any of them....they've been convinced that they are victims of all things; especially things they don't understand or have been told not to like.]

Points proven.

[GoCubsGo]

Mr. "Businessman."