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re: Ackman is off the Trump Train, warns of "self-induced, economic nuclear winter"
Posted on 4/7/25 at 10:54 am to Taxing Authority
Posted on 4/7/25 at 10:54 am to Taxing Authority
quote:
Im about to start a thread about trade deficits and grocery stores.
How'd that go?
0
Posted on 4/7/25 at 10:54 am to Jbird
quote:
So they have a trademark on certain ideas?
Trademark? No.
It's the general principles of the parties/ideologies.
DEMs traditionally want more government in economics and less in social issues
The GOP traditionally ants more government in social issues and less in the government
Libertarians want less government in both areas.
Authoritarians want more government in both areas.
Stating that "government intervention" is most closely aligned with the Left is not a controversial topic. It's been the way we've associated the ideas and group since at least the New Deal.
Posted on 4/7/25 at 10:55 am to SlowFlowPro
quote:
Trade deficit: fine
It's a simple question. Do most people consider running twin deficits for 50 years a good thing?
Twin deficits means a combination of both trade and budget deficits and they've been linked and discussed many times in economic literature. Most literature I've ever read says that long term twin deficits are not good, and will in fact devalue a currency eventually.
IOW, unless you have a plan that Congress and the courts will support to balance our budget deficits in the very near term, then we have to balance our trade.
Posted on 4/7/25 at 10:55 am to Deuces
quote:
I’m astounded at how little of balls the majority of people have
I’m all for ballz, but can we see the plan? Just show us how the math is going to math.
All these geniuses surrounding the president- surely one of these Harvard or MIT grads has put a pencil to it?
All I’m asking is to show their work. We just haven’t seen it yet.
Posted on 4/7/25 at 10:55 am to SlowFlowPro
That's nice.
Posted on 4/7/25 at 10:56 am to Seldom Seen
Look, the stock market history started in may of last year.
Posted on 4/7/25 at 10:58 am to wdhalgren
quote:
It's a simple question. Do most people consider running twin deficits for 50 years a good thing?
I answered. No, ONLY due to the public spending deficit, though.
quote:
Most literature I've ever read says that long term twin deficits are not good, and will in fact devalue a currency eventually.
That's going to require a competitor to arise or a major disruption to global markets.
Note: our currency has fallen since these Trump tariffs have become a reality.
quote:
IOW, unless you have a plan that Congress and the courts will support to balance our budget deficits in the very near term, then we have to balance our trade.
a. "Balancing trade" wont' fix the federal spending problem (although the inverse has more of a direct relationship)
b. We cannot balance trade, mathematically. With our economy and currency, it's just not possible. To balance trade we need a shittier economy, shittier SOL, and weakened USD.
Posted on 4/7/25 at 10:58 am to Bunk Moreland
Uh huh. Read his tweet a couple of days ago
Posted on 4/7/25 at 10:58 am to Jbird
quote:
That's nice.
Economic Leftism is not nice.
That's why I oppose it.
Posted on 4/7/25 at 10:59 am to SlowFlowPro
quote:Apparently so, at least at the current time.
Economic Leftism is not nice.
That's why I oppose it.
Posted on 4/7/25 at 11:00 am to wdhalgren
quote:
IOW, unless you have a plan that Congress and the courts will support to balance our budget deficits in the very near term, then we have to balance our trade.
Do you think tariffs are likely to lead to trade rebalancing? I would argue that that is a fantasy in all practical terms, which makes this an exercise in pointless economic pain.
Most people aren’t going to patiently wait for a decade-long (optimistic) manufacturing revival while enduring inflation and low growth in the meantime.
Posted on 4/7/25 at 11:03 am to Bunk Moreland
quote:
Billionaire investor Bill Ackman
Stopped right after that.
Posted on 4/7/25 at 11:05 am to Bunk Moreland
So he was wrong, then he was right and now he’s wrong again? Or was he right, then wrong and now right again. These people with a only one thing that matters to them consistently changing opinions is hilarious
Posted on 4/7/25 at 11:07 am to Nosevens
quote:
So he was wrong, then he was right and now he’s wrong again?
Where did Trump promise inducing a recession during the campaign?
It's clear he sold guys like Ackman, Dimon, etc. (just like he sold us rubes) a different plan than what we got.
I think even Elon has come out against tariffs. LINK
quote:
Elon Musk, one of President Donald Trump's biggest supporters, has been locking horns with Trump's top trade advisor, Peter Navarro.
"A PhD in Econ from Harvard is a bad thing, not a good thing," the Tesla and SpaceX CEO said of Navarro's academic qualifications in an X post on Saturday.
"Results in the ego/brains>>1 problem," Musk added.
Navarro earned his bachelor's from Tufts University. He then went to Harvard, where he did a master's in public administration and a doctorate in economics.
Musk criticized Navarro on X days after Trump imposed reciprocal tariffs on more than 180 countries. On Wednesday, Trump said the tariffs, which start at a baseline rate of 10%, would help "make America wealthy again" by bringing manufacturing back to the US.
Posted on 4/7/25 at 11:09 am to SlowFlowPro
quote:
Note: our currency has fallen since these Trump tariffs have become a reality.
Yes, and it could fall a lot further. Foreign govts are angry that Trump wants to balance trade, so they're dumping dollars. They're attempting to subvert US sovereignty by wielding their excess dollar reserves as a weapon. This was always the danger and ignoring it is not a solution. Would I be correct that you support European sovereignty over US sovereignty as long as Trump is president?
quote:
Balancing trade" wont' fix the federal spending problem (although the inverse has more of a direct relationship).
Won't fix it, but it will mean we've produced a greater percentage of what we consume. It will mean we're less dependent on foreign production.
quote:
We cannot balance trade, mathematically. With our economy and currency, it's just not possible. To balance trade we need a shittier economy, shittier SOL, and weakened USD.
More doublespeak I'm afraid. Our economy is already bad, that's we're printing money to maintain consumption. The only reason the dollar isn't weak already is our trading partners are supporting it. We have a much better chance of balancing trade than we do the budget.
Next, you'll say that's to our advantage, but our exploding debt, manufacturing job loss and rapidly expanding debt belies that fact. Your talking points are economically unsound.
This post was edited on 4/7/25 at 11:12 am
Posted on 4/7/25 at 11:10 am to wdhalgren
quote:
Foreign govts are angry that Trump wants to balance trade,
Because its unnecessary.
The trade balance is the most misunderstood part of the MAGAsphere.
Posted on 4/7/25 at 11:11 am to redneck hippie
quote:
All I’m asking is to show their work. We just haven’t seen it yet.
You want someone to math for you what will happen when there are no tariffs?
Posted on 4/7/25 at 11:12 am to RogerTheShrubber
quote:
Because its unnecessary.
No, it is quite necessary. Twin deficits are the most misunderstood thing by whatever sphere you represent.
This post was edited on 4/29/25 at 5:34 pm
Posted on 4/7/25 at 11:12 am to RogerTheShrubber
quote:I've come around. I'm trying to end my trade deficit with grocery stores. Total ripoff. They don't buy anythig from me.
The trade balance is the most misunderstood part of the MAGAsphere.
Posted on 4/7/25 at 11:12 am to wdhalgren
quote:
No, it is quite necessary.
When running, where did Trump promise a recession?
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