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re: I love how everyone is suddenly an economist when it comes to tariffs
Posted on 2/24/26 at 1:00 pm to NC_Tigah
Posted on 2/24/26 at 1:00 pm to NC_Tigah
quote:This only half of the equation, though. Yes, they have more dollars, but we have the products we’ve purchased.
If more leaves than enters, the US economy is in possession of less money. Accordingly, our trade counterparts have more money.
You cannot neglect that value and it’s step
in basis. Think of it like this-a chinese company can make a t-shirt, sell to a US importer. Can the chinese firm buy that tshirt back and break even? Nope. That difference is the discount the importer purchased the product for.
1
Posted on 2/24/26 at 1:01 pm to NC_Tigah
quote:
No. You aren't. You are assuming that money escaping our economy, and going to foreign economies on a continual basis is healthy. It isn't. To cover those losses, we either print money, or have less of it in our economy. It's 6 and 1/2 dozen the other. Printing money devalues it. Not printing money leaves less in our economy.
According to you, we are either in government debt because of Walmart. Or our dollar is weak because of Walmart.
You literally are not arguing for another option. Imports by private companies create deficit spending from governments or weaker currencies.
I argue that the trade deficit does not hurt our country or our economy.
It is a symptom of having a strong dollar. It is a byproduct. When the dollar is strong, we can buy cheap shite (or shite cheap) and we will have more imports than exports.
Does that sum up both positions?
Given both positions on the table, would you rather have an even or more favorable trade deficit?
Or stronger dollar?
What is the economist position on that one?
Posted on 2/24/26 at 1:02 pm to Rip Torner
quote:Bingo.
That’s because the Wikipedia economists go to Google and are told tariffs are bad for the economy. They have yet to figure out that the huge advantage we have had in technology and innovation is about to be undone by AI or at the least severely level the playing field. Which means if we don’t bring back heavy manufacturing we are going to be in trouble moving forward
I'd add that they also do not realize the extent to which foreign trade barriers contributed to our current economic imbalances.
Posted on 2/24/26 at 1:03 pm to meansonny
quote:Good Lord.
we are either in government debt because of Walmart.
Posted on 2/24/26 at 1:03 pm to NC_Tigah
quote:Definitely part of it. But probably more importantly, those workers would have to assume the standard of living of those destinations. *cough*
In no small part, because other countries do not cater to immigrants as we do.
Posted on 2/24/26 at 1:04 pm to meansonny
Holy hell he just laid it out exactly how and why it is detrimental. Why should he take time to pull up all the numbers. Do it yourself.
Posted on 2/24/26 at 1:08 pm to Taxing Authority
quote:Right.
they have more dollars, but we have the products we’ve purchased.
It's sort of the millennial versus boomer equation.
Millennials spent money on experiences which they enjoyed.
Boomers spent money on investments which produce more money.
Posted on 2/24/26 at 1:11 pm to NC_Tigah
quote:
Manufacturing processes abroad, instead of domestically, sheds tax revenue, and creates job loss and dependency. Dependency and joblessness are roots of crime. Those are the things that destabilize our economy.
Walmart is the largest importer in the US.
Walmart is also the largest employer in the US.( 0.9% of the US labor force works for walmart).
Being a retailer, they have a high cost model, but they still are one of the largest taxpayers in the US (+$6B taxes paid per year)
So you argue that Walmart is destabilizing to the economy despite approximately 72% of Americans doing grocery shopping there.
Because they import a significant portion of their product?
Posted on 2/24/26 at 1:16 pm to Taxing Authority
quote:More to the point, they would also be subject to working conditions in those economies. It doesn't matter a tinkers damn to "free traders" whether child labor, slave labor, or unsafe labor practices generate cheaper goods. The only thing that matters is that the goods are less expensive.
Definitely part of it. But probably more importantly, those workers would have to assume the standard of living of those destinations. *cough*
Obviously, if we regulate our labor to eliminate or limit unsafe or inhumane practice, there's a cost. It is a cost we are not compensating.
Posted on 2/24/26 at 1:17 pm to Sweep Da Leg
quote:
Holy hell he just laid it out exactly how and why it is detrimental.
US importers like wal mart are detrimental?
I didn't see those numbers. Feel free to reply to this one so I see it.
It isn't the federal government doing the importing.
It is 72% of Americans buying goods from and through Walmart.
Because of that, Walmart employs almost 1% of the American workforce.
The trade deficit is not hurting americans.
The strong dollar is creating the trade deficit.
And everyone agrees that a strong dollar is significantly more important than balanced imports/exports.
We've got the entire data sample of the US economy since going off the gold standard to validate his or my arguments.
Posted on 2/24/26 at 1:18 pm to meansonny
quote:Asked and answered multiple times. You choose to ignore the answers. That's your prerogative.
Because they import a significant portion of their product?
Posted on 2/24/26 at 1:21 pm to NC_Tigah
quote:
quote:
we are either in government debt because of Walmart.
Good Lord.
That's your argument.
Not mine.
The largest importer of foreign goods are the 72% of Americans who shop at Walmart.
You equate a trade deficit to a weak dollar or deficit government spending.
These are your arguments. Not mine.
By logic, you are blaming Walmart either for our debt or the lack of strength of our dollar.
If I am leaving out a part of your argument, fill it in.
This post was edited on 2/24/26 at 1:23 pm
Posted on 2/24/26 at 1:25 pm to meansonny
quote:No. It isn't.
That's your argument.
Again, you can ignore the actual arguments laid out here, as you have. That's your prerogative. The exchange speaks for itself.
Posted on 2/24/26 at 5:55 pm to DyeHardDylan
Thomas Sowell
I love how everyone who supports the tariffs is suddenly an economist
I loathe progressives with a fervent fire- but tariffs are not an effective or efficient economic driver.
And about 99% or Republican free market economist like Friedman or the Great Thomas Sowell will tell you the same
I love how everyone who supports the tariffs is suddenly an economist
I loathe progressives with a fervent fire- but tariffs are not an effective or efficient economic driver.
And about 99% or Republican free market economist like Friedman or the Great Thomas Sowell will tell you the same
This post was edited on 2/24/26 at 5:59 pm
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