Dow tumbles more than 800 points. How ugly will this get?

[PJFrylar]

That won't stop them from blaming Obama for the crash...lol! Conservatives never take responsibility for anything they do, they reflexively blame their failures on Democrats. It's to the point that if Ted Cruz was unable to achieve an erection while lying in bed with his wife, he would blame Obama or Pelosi.

I'll just waltz away now that I've ruined your day by making you think of Ted Cruz trying to get it up.

To steal from deadpool 2, I'll never not picture that, but I can't wait to never speak of this as soon as possible.

 

[theeedude]

Dow futures down another $360 after Trump labels China "currency manipulator" because they stopped manipulating their currency to keep it strong.

 

[JSt0rm]

easy to win must be right around the corner.

 

[BoomerD]

The people who claimed that China has limited avenues of retaliation when this all started because they import less stuff from us than we import from them have been proven so amazingly wrong.

The ag industry is just fucked now. Totally fucked.

Yet...those farmers who get hurt by this will likely never think of voting Democrat.

 

[Maxima1]

like if we wanted to bully china we should of done it 20 years ago. They dont need us anymore.

Besides Trump, I believe his advisors are doing this more for disrupting China's rise by encouraging the supply chain to shift.

 

[Sheik Yerbouti]

I just hope the upcoming crash comes under Trump, so that brain dead conservatives don't have the pretense to blame anyone but themselves.

Thanks Obama

 

[PJFrylar]

Thanks Obama

That son of a bitch, passing tax cuts at an economically unwise time. Not to mention starting an ill-advised trade war. All after he left office. Just like he tanked the economy before taking office. That son of a bitch......

 

[Bitek]

If I had to guess (and I have to with my invested money), I'd say we're going to ride this down for a few weeks, hit a bottom and bounce back. A continuance of the volatility since last October.

 

[Sheik Yerbouti]

That son of a bitch, passing tax cuts at an economically unwise time. Not to mention starting an ill-advised trade war. All after he left office. Just like he tanked the economy before taking office. That son of a bitch......

Can you believe he wasn't even IN THE OFFICE ON 9/11!?!??!?!!!???

 

[K1052]

Yet...those farmers who get hurt by this will likely never think of voting Democrat.

Frankly it’s going to be too late for a lot of them even if they did now.

 

[PJFrylar]

Can you believe he wasn't even IN THE OFFICE ON 9/11!?!??!?!!!???

HOHOHOHO, but he was. He was an Illinois state senator. Check mate.

 

[Sheik Yerbouti]

HOHOHOHO, but he was. He was an Illinois state senator. Check mate.

OOOh! Snap!

 

[PJFrylar]

OOOh! Snap!

I will never understand why Obama did not utilize his power to better unite us in those trying times. Slacker.

 

[Jhhnn]

Frankly it’s going to be too late for a lot of them even if they did now.

Farming is a tricky up & down business. They had a run of poor years leading up to a get well bumper harvest in 2018 until they took the high hard one in Trump's trade war. It fucked 'em right proper.

https://www.bloomberg.com/news/arti...-call-for-help-as-debts-climb-to-1980s-levels

 

[JSt0rm]

Besides Trump, I believe his advisors are doing this more for disrupting China's rise by encouraging the supply chain to shift.

then they shouldnt of tossed out the trade partnership obama made.

 

[GodisanAtheist]

TPP is one of those odd ducks that got negotiated just as the political winds were shifting in favor of protectionism and away from the free market ideology that has ruled the roost for the last 30+ years. Everyone dog piled that thing, Clinton included, and it was ultimately trying to do the same thing that Trump has attempted with trade war 'sticks' through customs union 'carrots'. Get more countries into the US sphere of economic influence so our exporters would have new markets and our consumers could get new goods and most importantly, weaken China's economic dominance over its neighbors and the US' dependence on Chinese goods.

Of course, now we have to listen to the "Trump is the only one with the balls to take on China" mantra like its some self explanatory truth that we all have to take at face value.

 

[Jaskalas]

Yet...those farmers who get hurt by this will likely never think of voting Democrat.

Why not?

Trump has given them the perfect reason. If we stopped hating on them and instead offered them a direct reason to vote for us, we'd gain quite a few voters.

 

[JSt0rm]

Why not?

Trump has given them the perfect reason. If we stopped hating on them and instead offered them a direct reason to vote for us, we'd gain quite a few voters.

fuck them. Iowa can go gop and shit themselves into oblivion.

 

[KMFJD]

https://www.cnbc.com/2019/08/05/chi...chases-in-response-to-trumps-new-tariffs.html

so much winning

 

[cytg111]

Everything the Orange does turns into a shit show. We should know that by now....

 

[fskimospy]

The US Treasury has declared China a currency manipulator. While this has little practical effect they had not done so because it would majorly antagonize the Chinese.

Market futures doing what you'd expect.

My absolute favorite part of this comes from here:

https://www.bloomberg.com/amp/news/...epartment-labels-china-a-currency-manipulator

Mnuchin said in June that China was intervening in currency markets to prop up the yuan, and warned it could be designated a manipulator if it stopped.

We labeled China a currency manipulator because they STOPPED manipulating their currency. The dumbness of this administration is just incredible sometimes. The sheer, abject stupidity.

Of course it’s not even remotely worth the damage it is doing to both countries but in some ways it is satisfying to see these morons slowly realizing they’re in over their heads and when they thought this trade war was going to be ‘good and easy to win’ it was because they had no clue what they were doing.

The major danger I see now is that Trump will keep trying to find ways to escalate because his narcissism won’t allow him to accept such a humiliating defeat. Things could get weird over the next 18 months.

 

[K1052]

My absolute favorite part of this comes from here:

https://www.bloomberg.com/amp/news/...epartment-labels-china-a-currency-manipulator



We labeled China a currency manipulator because they STOPPED manipulating their currency. The dumbness of this administration is just incredible sometimes. The sheer, abject stupidity.

Of course it’s not even remotely worth the damage it is doing to both countries but in some ways it is satisfying to see these morons slowly realizing they’re in over their heads and when they thought this trade war was going to be ‘good and easy to win’ it was because they had no clue what they were doing.

The major danger I see now is that Trump will keep trying to find ways to escalate because his narcissism won’t allow him to accept such a humiliating defeat. Things could get weird over the next 18 months.

Yeah all they had to do is withhold support and the currency floated naturally, just not in a way at all favorable to the US. Then we declare them a manipulator and demand that they recommence manipulating it the way we want lol.

Trump is basically doing whatever he wants now with predicable results. Some of the reports seem to indicate he views the China situation like Mexico where he managed to wring out some concessions with this bullying at least which considering our huge disparity with Mexico on almost everything isn't really much of an accomplishment. He's failed to realize the Chinese aren't the Mexicans or some other small Central American country he can just beat into submission . They're going to give as good as they get and potentially then some.

 

[K1052]

https://www.cnbc.com/2019/08/05/chi...chases-in-response-to-trumps-new-tariffs.html

so much winning

The skill in vaporizing a $20B ag market that took decades to build in two years is pretty incredible. Then again Trump always was an overachiever at losing other people's money.

 

[fskimospy]

Yeah all they had to do is withhold support and the currency floated naturally, just not in a way at all favorable to the US. Then we declare them a manipulator and demand that they recommence manipulating it the way we want lol.

Trump is basically doing whatever he wants now with predicable results. Some of the reports seem to indicate he views the China situation like Mexico where he managed to wring out some concessions with this bullying at least which considering our huge disparity with Mexico on almost everything isn't really much of an accomplishment. He's failed to realize the Chinese aren't the Mexicans or some other small Central American country he can just beat into submission . They're going to give as good as they get and potentially then some.

Also the concessions he got out of Mexico were quite minor and even those look like they might not happen.

https://www.brookings.edu/blog/up-front/2018/10/02/5-things-to-know-about-usmca-the-new-nafta/

If Trump couldn’t bully Mexico effectively he has no chance here.

 

[K1052]

Also the concessions he got out of Mexico were quite minor and even those look like they might not happen.

https://www.brookings.edu/blog/up-front/2018/10/02/5-things-to-know-about-usmca-the-new-nafta/

If Trump couldn’t bully Mexico effectively he has no chance here.

Certainly not anything in there that's going to rebalance trade in the (idiotic) ways he talks about. Assuming it ever becomes law which seems decreasingly likely.