Trade War!

[ClydeR]

Trade wars are good, and easy to win. Let's start one.





https://pbs.twimg.com/media/DXRySfsVwAAsnu3.jpg



I think we all know who the "certain country" is. No need to say it.

[cwolff]

But the public show of confidence belies the fact that Trump's policy maneuver, which may ultimately harm U.S. companies and American consumers, was announced without any internal review by government lawyers or his own staff, according to a review of an internal White House document.

According to two officials, Trump's decision to launch a potential trade war was born out of anger at other simmering issues and the result of a broken internal process that has failed to deliver him consensus views that represent the best advice of his team.

On Wednesday evening, the president became "unglued," in the words of one official familiar with the president's state of mind

He's was hangry. That's why Reagan kept jelly bellies.

https://www.nbcnews.com/politics/white-house/amp/trump-was-angry-unglued-when-he-started-trade-war-officials-n852641?__twitter_impression=true

[Taernath]

https://i.imgur.com/4kcQvpd.jpg

[~Rocktar~]

https://youtu.be/iYlqU_bN0b4

[Taernath]

Welp, it's official.

http://www.bbc.com/news/world-us-canada-43337951

Mr Trump has said the US is suffering from "unfair trade" and that the move would boost US industry.

But countries have expressed outrage at his plans, and experts have warned of new trade wars.

The tariffs will go into effect in 15 days and include exemptions for Canada and Mexico.

Tariffs of 25% are to be placed on steel and 10% on aluminium imported into the US.

...

also, his economic advisor resigned a couple days ago.

[Parkbandit]

How are people STILL surprised that President Trump is doing something he campaigned on?

I don't get it.

[Ashlander]

It is a departure from most politicians.

[Taernath]

How are people STILL surprised that President Trump is doing something he campaigned on?

I don't get it.

Because virtually everybody, even his own party, says it's a bad idea.

[Latrinsorm]

How are people STILL surprised that President Trump is doing something he campaigned on?

I don't get it.President Trump never once campaigned on this.

[Seizer]

Interesting read.
http://www.bbc.com/news/world-us-canada-43336529

[Latrinsorm]

Interesting read.
http://www.bbc.com/news/world-us-canada-43336529It's pretty bonkers how alone of all the empirical sciences it's economics where we talk about what happened a hundred years ago. Nobody argues about penicillin, nobody says "well JJ Thomson won the Nobel Prize, maybe there's something to his atomic model!" Bonkers.

[~Rocktar~]

It's pretty bonkers how alone of all the empirical sciences it's economics where we talk about what happened a hundred years ago.

As pointed out, economics is not an empirical science. Also, economists, like climatologists have a massive credibility problem. Predicting 18 of the last 3 recessions tends to make people skeptical. Kind of like how all the arctic ice would be gone now and polar bears extinct.

[Latrinsorm]

As pointed out, economics is not an empirical science. Also, economists, like climatologists have a massive credibility problem. Predicting 18 of the last 3 recessions tends to make people skeptical. Kind of like how all the arctic ice would be gone now and polar bears extinct.Excellent use of talking points here. You left out the one about the unnamed "scientists" who said the curve ball was an optical illusion though, that's a classic garbagerhetorical device. Those "scientists"! Huh! What makes them think they're so smart? Besides the Internet, the moon landing, interplanetary landings, nuclear reactors, MRIs, mapping the human genome, air bags, anti-lock brakes, plasma TVs, DVRs, smart phones... huh! Those SCIENTISTS! Actually THEY'RE the dumb ones!!!11

[drauz]

Excellent use of talking points here. You left out the one about the unnamed "scientists" who said the curve ball was an optical illusion though, that's a classic garbagerhetorical device. Those "scientists"! Huh! What makes them think they're so smart? Besides the Internet, the moon landing, interplanetary landings, nuclear reactors, MRIs, mapping the human genome, air bags, anti-lock brakes, plasma TVs, DVRs, smart phones... huh! Those SCIENTISTS! Actually THEY'RE the dumb ones!!!11

Did climatologists and economists do that?

[Latrinsorm]

Did climatologists and economists do that?Using the same methodology climatologists and economists have made similar advances in their own fields. The point of the counter examples is to show how the problem is not the methodology, but ~Rocktar~'s personal disagreement with their particular advances.

[~Rocktar~]

Using the same methodology climatologists and economists have made similar advances in their own fields. The point of the counter examples is to show how the problem is not the methodology, but ~Rocktar~'s personal disagreement with their particular advances.

Actually, the real issue is your complete and utter disregard for anything that doesn't fit your mantra or support your ego. Both climatology and economics have serious credibility problems due to the idiotic predictions made by them and the ongoing failure of either community to moderate themselves. They also seem to like the media attention when they proclaim some ridiculous doomsday outcome. Just like you, they make inane and far fetched comments and then when they are uncovered they back track and lie to say that they didn't say that in the first place.

[Latrinsorm]

Actually, the real issue is your complete and utter disregard for anything that doesn't fit your mantra or support your ego. Both climatology and economics have serious credibility problems due to the idiotic predictions made by them and the ongoing failure of either community to moderate themselves. They also seem to like the media attention when they proclaim some ridiculous doomsday outcome. Just like you, they make inane and far fetched comments and then when they are uncovered they back track and lie to say that they didn't say that in the first place.Scientific journals can be pretty hard to search and reference. But my posts are all here, so why don't you share a single case where I "back track[ed] and lie[d]" with the class. Let's see how problematic your credibility is.

[~Rocktar~]

Every time you get called out on bullshit and someone cites a source to contradict you you back peddle into semantic crap. And then you deny that you are "walking back", as they say in the news, your foolish statement.

[Seizer]

It's pretty bonkers how alone of all the empirical sciences it's economics where we talk about what happened a hundred years ago. Nobody argues about penicillin, nobody says "well JJ Thomson won the Nobel Prize, maybe there's something to his atomic model!" Bonkers.

https://en.wikiquote.org/wiki/George_Santayana
Right?
Edmund Burke (1729-1797) “Those who don’t know history are destined to repeat it.” | George Santayana (1863-1952) “Those who cannot remember the past are condemned to repeat it.”

[Methais]

You left out the one about the unnamed "scientists" who said the curve ball was an optical illusion though, that's a classic garbagerhetorical device.

https://memegenerator.net/img/instances/71564132/are-you-tryn-to-say-jesus-christ-cant-hit-a-curve-ball.jpg

[Latrinsorm]

Every time you get called out on bullshit and someone cites a source to contradict you you back peddle into semantic crap. And then you deny that you are "walking back", as they say in the news, your foolish statement.One time would be fine. One single case.
https://en.wikiquote.org/wiki/George_Santayana
Right?
Edmund Burke (1729-1797) “Those who don’t know history are destined to repeat it.” | George Santayana (1863-1952) “Those who cannot remember the past are condemned to repeat it.”Right. Those people who don't remember how thoroughly theories like the plum pudding model of the atom or mercantalism were disproven are doomed to try them again.
https://memegenerator.net/img/instances/71564132/are-you-tryn-to-say-jesus-christ-cant-hit-a-curve-ball.jpgJesus is not a scientist, therefore he knows the curve ball is real, therefore he can hit a curve ball and it's very bad to steal Jobu's rum. QED.

[ClydeR]

China is moving forward with its plan to counter President Donald Trump's new tariffs on steel and aluminum, levying duties that will take effect Monday on more than $3 billion in U.S. exports to the country.

In a statement Sunday, the Chinese government said it would impose the retaliatory tariffs on 128 products, according to an informal translation.

China will impose a 15 percent tariff increase on goods including American fruit and nuts and add a 25 percent tariff on pork, recycled aluminum and other goods, the government said

More... (https://www.politico.com/story/2018/04/01/china-tariffs-trump-trade-924833)


It's on! Since we have a trade deficit with China, they have more to lose than we do. With that advantage and with a business genius like Donald Trump leading us, how could we possibly lose a trade war?

[cwolff]

The Associated Press
‏
Verified account

@AP

BREAKING: China announces tariff hike on $50 billion of U.S. goods including soybeans, aircraft, autos.
1:07 AM - 4 Apr 2018

This is fun. Trade wars are so easy to win.

[Fortybox]

This is fun. Trade wars are so easy to win.

Markets are up.

[cwolff]

Markets are up.

Ya, I noticed that at the end of the day. Maybe this will work out before they actually do any damage.

[Aluvius]

The markets came back up after Larry Kudlow on FOX Business essentially said that Trump was full of shit on the trade war, that the US would go through the WTO and not implement tariffs. I'm going to assume that there will be a "full confidence in Larry Kudlow" statement by the White House soon lol.

[cwolff]

The markets came back up after Larry Kudlow on FOX Business essentially said that Trump was full of shit on the trade war, that the US would go through the WTO and not implement tariffs. I'm going to assume that there will be a "full confidence in Larry Kudlow" statement by the White House soon lol.

LOL, the dreaded full confidence statement. That's when you know you're the walking dead.

[Latrinsorm]

Markets are up.This post didn't age well.

[Androidpk]

This post didn't age well.

I do wish Obama would stop fucking around with the markets so Trump could get back to talking about them.

[time4fun]

I do wish Obama would stop fucking around with the markets so Trump could get back to talking about them.

I literally laughed out loud when I read this

[~Rocktar~]

One time would be fine.

See post# 2016214

[Latrinsorm]

See post# 2016214This is some world class terrible linking.

[time4fun]

This is some world class terrible linking.

Whatever you do, don't respond with facts.

He gets extremely upset when you do that.

[cwolff]

China won’t back down. The old adage, give em a finger then next they’ll want the arm. If China backs down and acquiesces then the US will know they can take shit from them, then recession comes and things get tight guess who they’ll turn to for more money/trade concessions.

I do think Trump is going to keep going though; just because he’s a US President with backbone and because ...


Agreed. I don't think he has backbone, or much of a spine at all really, but he's reckless, impulsive and a gambler. He has an addictive personality which is why he doesn't drink but he gets his thrills through other self destructive ways.

But...I do agree that he'll go through with this and that China won't back down. They play the long game there. Any response they make will be three steps ahead of us. They may even placate him to buy time for their belt/silk road trillion dollar investment to get off the ground. They're also cozying up to Russia and the two of them have a common foe; US. They've been trying to isolate us and trump is the right man for the job.

[Androidpk]

Agreed. I don't think he has backbone, or much of a spine at all really, but he's reckless, impulsive and a gambler. He has an addictive personality which is why he doesn't drink but he gets his thrills through other self destructive ways.

But...I do agree that he'll go through with this and that China won't back down. They play the long game there. Any response they make will be three steps ahead of us. They may even placate him to buy time for their belt/silk road trillion dollar investment to get off the ground. They're also cozying up to Russia and the two of them have a common foe; US. They've been trying to isolate us and trump is the right man for the job.

He's completely reckless and impulsive.

[cwolff]

Wasn't taking credit for the stock market gains by trump all in the news recently? He does do an excellent job driving the cycle. Ive got to give him credit for that.


Personalized Rate of Return
since 01/01/2018 -2.29%

But even more winning is on the way:


The new U.S. normal of $1 trillion or more annual federal budget deficits will officially begin this week when the Congressional Budget Office releases its economic and budget outlook report showing that the deficit will be at least that high every year Donald Trump is president.
...
The official CBO projections are likely to be lower than the budget deficits that actually occur. CBO's report is based on current law and makes no political judgements about what Congress and the president will do in the future. That means the deficit projections will be based on the presumption that the tax cuts enacted last year that currently phase out will in fact end. That means the CBO forecast will assume that future revenues will be higher and the deficit lower compared to what is likely to occur.


https://www.forbes.com/sites/stancollender/2018/04/08/trump-trillion-dollar-budget-deficits-officially-begin-this-week/#e06ee3033659

[~Rocktar~]

Imagine that, I was right when I said there would be some tariffs, some back and forth, bluster and so on, then people would negotiate.


On Tuesday, Chinese President Xi Jingping announced plans to "open" China and vowed to "significantly" lower tariffs on automobile imports from the U.S.

"China does not seek trade surplus. We have a genuine desire to increase imports and achieve greater balance of international payments under the current account," Xi said at the economic Boao Forum for Asia.


"We encourage normal technological exchanges and cooperation between Chinese and foreign enterprises and protect the lawful [intellectual property] owned by foreign enterprises in China," he said.

https://www.dailywire.com/news/29240/blink-after-trump-tirade-china-pledges-joseph-curl

[ClydeR]

https://pbs.twimg.com/media/DgTVj11UwAAM4q1.jpg


So easy.

[ClydeR]

Washington's 25 percent duties went into effect at midnight EDT and affected products such as water boilers, X-ray machine components, airplane tires and various other industrial parts. China immediately implemented retaliatory tariffs on its $34 billion list of goods issued last month, including soybeans, pork and electric vehicles. Beijing called it the "biggest trade war in economic history."

It's unlikely to stop there. In fact, there will be probably be “escalation upon escalation,” warned Geoff Raby, Australia’s former ambassador to China.

More... (https://www.cnbc.com/2018/07/06/trade-war-worries-us-china-tariffs-to-kick-in-on-friday.html)


President Donald Trump said Thursday that tariffs on $34 billion worth of Chinese goods will kick in at 12:01 a.m. EDT Friday. Another $16 billion are expected to go into effect in two weeks, he said. He told reporters he would also consider imposing additional tariffs on $500 billion in Chinese goods, should Beijing retaliate against the already-scheduled actions.

After Trump made those remarks, China retaliated.

[ClydeR]

The Trump administration on Tuesday announced up to $12 billion in emergency aid to farmers caught in an escalating trade war, seeking to temper growing Republican dissent over President Trump’s trade policies.

The aid is designed to help farmers facing tariffs in China, Mexico and other countries that imposed the levies on U.S. products in response to Trump’s new tariffs on imported steel and aluminum. It is the latest sign that growing trade tensions between the United States and other countries are unlikely to end soon.

More... (https://www.washingtonpost.com/business/economy/white-house-readies-plan-for-12-billion-in-emergency-aid-to-farmers-caught-in-trumps-escalating-trade-war/2018/07/24/7bec9af4-8f4d-11e8-b769-e3fff17f0689_story.html)

This is important. Republicans are against government bailouts of private companies. With one exception. The one exception is when the government caused the need for the bailout. That's why this bailout is okay.