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re: How confident are you that Trump and his team know what they are doing with tariffs?
Posted on 4/9/25 at 11:32 am to Street Hawk
Posted on 4/9/25 at 11:32 am to Street Hawk
My confidence is near zero.
History shows that every century or so someone pops up and tries tariffs again as it’s been so long that everyone has forgotten the last time.
Tariffs and the subsequent trade wars ultimately are a tax on the middle and lower class. They never seem to end well as then President Benjamin Harrison learned a century ago. Voted out after one term.
Protectionist economic policies have also shown unsavory results. Ask Cuba and/or Russia.
These tariffs are far larger and broader reaching than anything I imagined. I knew they were coming; he said as much, perhaps I thought they’d be more focused and targeted than the nonsensical and totally non transparent way they’ve rolled out.
The worry now is so many are calling his bluff and he’s doubling down because his ego won’t allow him to take an L.
History shows that every century or so someone pops up and tries tariffs again as it’s been so long that everyone has forgotten the last time.
Tariffs and the subsequent trade wars ultimately are a tax on the middle and lower class. They never seem to end well as then President Benjamin Harrison learned a century ago. Voted out after one term.
Protectionist economic policies have also shown unsavory results. Ask Cuba and/or Russia.
These tariffs are far larger and broader reaching than anything I imagined. I knew they were coming; he said as much, perhaps I thought they’d be more focused and targeted than the nonsensical and totally non transparent way they’ve rolled out.
The worry now is so many are calling his bluff and he’s doubling down because his ego won’t allow him to take an L.
1
Posted on 4/9/25 at 11:34 am to TDTOM
quote:
This board is full of limp wristed leftists.
Protecting labor through tariffs has always been a 'leftist' strategy.
You have no idea what you're talking about.
Posted on 4/9/25 at 11:36 am to CatsGoneWild
quote:
the mark of the beast, chips inserted in you to buy and sell, will happen real soon
Drama much
That is a bit different than the Bible, did you read this book?
quote:
The process was done using high-tech means — described like a bio-implant or branding combined with a tattoo or laser etching. It's portrayed as compulsory for all citizens of the Global Community who want to buy, sell, or participate in society.
Posted on 4/9/25 at 11:39 am to Hoops
quote:
I have no clue but I do think it’s time to try something different.
It most certainly is NOT the time to 'try something different' with regards to foreign trade.
Now is the time to get our own house in order. The problem is with the government budget deficit, not with the trade deficit. We should be balancing the budget FIRST, and then attack any perceived issues with trade.
After all, how are we going to finance our increasing debt, approach the very people we're fricking in the arse right now to buy our bonds?
Posted on 4/9/25 at 11:45 am to wiltznucs
You do understand that all these countries have tariffs on US products, correct?
Why haven't you been railing about these tariffs.
Why haven't you been railing about these tariffs.
Posted on 4/9/25 at 11:48 am to JakeRStephenes
quote:
You do understand that all these countries have tariffs on US products, correct?
Why haven't you been railing about these tariffs.
I'm not trying to be like china or some african shithole. Why are you?
Posted on 4/9/25 at 11:51 am to Uhtred
quote:
I think most of us can agree that something needed to be done with regard to the debt and rising deficit.
Are you fricking kidding? We can't even agree on which deficit we're talking about.
And in case you're wondering...
IT'S THE BUDGET DEFICIT THAT IS OUR MOST PRESSING CONCERN.
Posted on 4/9/25 at 12:00 pm to Street Hawk
Very. Hes been talking about it since the 80s
Posted on 4/9/25 at 12:14 pm to notsince98
quote:
We are owed a lot of $ for the protection we have provided much of the rest of the world.
Where are you getting this from? Are there accounts receivable out there? Who has agreed to pay us but hasn't?
Posted on 4/9/25 at 12:23 pm to Stidham8
quote:
Here’s Chuck Schumer talking about it in 2011. . .
What does that have to do with a 50% tariff being placed on Lesotho?
Posted on 4/9/25 at 12:28 pm to SDVTiger
quote:
Very. Hes been talking about it since the 80s
If that's the case, then why didn't he do any of this in his first 4 years?
Posted on 4/9/25 at 2:29 pm to 904
He did put tariffs on China in 2018. Soon after that he worked out a trade deal with China that had a lot of promise. Biden didn’t enforce the deal.
Posted on 4/9/25 at 4:05 pm to redneck hippie
quote:
Surely the Trump team has ran the numbers and have some idea of what the end game is
LOL! He’s walked back many of his executive orders , or they have been paused by courts.
What about that says “I’ve run the numbers and have some idea of the end game”?
Posted on 4/9/25 at 4:40 pm to TigersHuskers
quote:
More than half of Chinas economy is based on sending us their garbage. They're more fricked than we are.
China and EU have big trade surpluses with us. They have a lot to lose.
Posted on 4/9/25 at 5:51 pm to Auburn1968
Reading lots of these posts reinforces what I already know-majority of people have no capacity for delaying gratification.I’m fairly old and have seen it many times,either with co-workers and in many cases relatives of mine.
When the hospital I worked at started a 401-K close to half of my co-workers didn’t participate,not even 4% to get the match.Their most common excuse was they couldn’t afford to take a pay cut.Lots of them were up to their eyeballs in debt,car notes fo expensive cars,house notes for expensive houses,credit card debt from going out to eat several times a week.
My wife and I did 15% percent from the very beginning..Our house cost about 1/3 of what we qualified for a mortgage.We weren’t above buying used cars and driving them until they started causing us problems.Going to restaraunts was only for special occasions a few times a year.
I had one friend always poor mouthing about all her bills,as soon as her car was paid off she would buy a new one.It wasn’t just us moderate wage people.
A Dr.I knew was talking about that one day and how much debt so many Drs.carried.He said there were 8 Drs. in his clinic and he had more money in his 401-K than the other 7 combined.His house was paid for,nice but not a mansion.He drove a Toyota truck,didn’t wear expensive suits.
We made sacrifices through the years but it’s paid off,we are in a very good
position in our old age.
When the hospital I worked at started a 401-K close to half of my co-workers didn’t participate,not even 4% to get the match.Their most common excuse was they couldn’t afford to take a pay cut.Lots of them were up to their eyeballs in debt,car notes fo expensive cars,house notes for expensive houses,credit card debt from going out to eat several times a week.
My wife and I did 15% percent from the very beginning..Our house cost about 1/3 of what we qualified for a mortgage.We weren’t above buying used cars and driving them until they started causing us problems.Going to restaraunts was only for special occasions a few times a year.
I had one friend always poor mouthing about all her bills,as soon as her car was paid off she would buy a new one.It wasn’t just us moderate wage people.
A Dr.I knew was talking about that one day and how much debt so many Drs.carried.He said there were 8 Drs. in his clinic and he had more money in his 401-K than the other 7 combined.His house was paid for,nice but not a mansion.He drove a Toyota truck,didn’t wear expensive suits.
We made sacrifices through the years but it’s paid off,we are in a very good
position in our old age.
Posted on 4/10/25 at 9:05 am to TDTOM
This board is full of limp wristed leftists.
_________
Wrong board. This is the adult board.
_________
Wrong board. This is the adult board.
Posted on 4/10/25 at 9:44 am to deltafarmer
quote:
> If that's the case, then why didn't he do any of this in his first 4 years?
He did put tariffs on China in 2018. Soon after that he worked out a trade deal with China that had a lot of promise. Biden didn’t enforce the deal.
You're right in that he did go to bat against China with tariffs in 2018, so I shouldn't have used the absolute word of "any".
But effectively, that was only a drop in the bucket compared to the widespread tariff rollout that he's put in place this time around. They're hardly comparable. The current average effective US tariff rate is now 22.5%, the highest since 1909, and that doesn't even include what he says he's planning to do 90 days from now.
So if I can rephrase my question, if this is something he's been talking about since the 80's, why now instead of during his first 4 years for this scale and magnitude?
This post was edited on 4/10/25 at 9:45 am
Posted on 4/10/25 at 9:46 am to KennytheTiger
quote:
Wrong board. This is the adult board.
That may have been put into question over the last week. Lot of meltdowns
Posted on 4/10/25 at 10:02 am to LSUA 75
quote:
Lots of them were up to their eyeballs in debt,car notes fo expensive cars,house notes for expensive houses,credit card debt from going out to eat several times a week.
They divulged all that to you?
In my experience, people who are doing shitty financially usually do not go around telling their coworkers and neighbors about it but somehow there's always a few posters in every one of these threads that are surrounded by people who are vocal about drowning in debt
Posted on 4/10/25 at 10:35 am to Street Hawk
90%.
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