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The Trump Tariffs thread

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fskimospy said:
The market crash exposes another big issue here - clearly the markets assumed Trump was lying about these tariffs or they would have been more priced in at this point.

The markets aren't wrong to have thought he was lying as, well, he lies about everything, but every once in a while he follows through and people are unprepared.
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He pulled a Soviet Russia in their 80s
 
fskimospy said:
My brother in law is a financial advisor for high net worth people. Generally speaking I sort of envy his job as he is super rich, but not today.
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I deal with such a person for some of my accounts. He basically accused me of being alarmist when I liberated some cash from them in February when Trump was ramping up the trade war. A lot of people, many of them seasoned professionals, simply have totally failed to imagine that he would do what he said he was going to do.
 
K1052 said:
Decided to check to see if my adjustments panned out. Up about 0.5% today on average across the accounts.

When you hear "Trump Rose Garden economic announcement" proceed accordingly.
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I thought I was doing better than expected—but then I realized most of my Fidelity accounts will only update at close. IMG_0662.jpeg
 
K1052 said:
I deal with such a person for some of my accounts. He basically accused me of being alarmist when I liberated some cash from them in February when Trump was ramping up the trade war. A lot of people, many of them seasoned professionals, simply have totally failed to imagine that he would do what he said he was going to do.
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Because they are too in love with the shitty and evil parts to even think the other bad shit could happen to them. It's a literal willful ignorance because they are too turned on by the most horrific parts of Trump so they simply block out anything bad that could happen to them in a financial sense. As long as they can still saybafkreidbp6wvou3ii3jiky3hf3y5hfw56mv5u2h6b63mfaur5bsuckrxwi.jpg
 
Brainonska511 said:
Saw a suggestion that the tariff rates were literally decided by looking at imports vs exports, and wouldn't be surprised if they set the rates in such a stupid and hamfisted fashion.

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Trade deficit divided by that country's exports to us. So dumb...
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I really think you shouldn't take Trump at his word that this is supposed to be a trade war. You should take him at his word that this is about raising revenues, e.g. taxing the fuck out of all of us. 45 years of autistic screeching from the Republicans about taxes and now they just put the biggest tax increase we have ever seen on the people.
 
fskimospy said:
The market crash exposes another big issue here - clearly the markets assumed Trump was lying about these tariffs or they would have been more priced in at this point.

The markets aren't wrong to have thought he was lying as, well, he lies about everything, but every once in a while he follows through and people are unprepared.
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Whenever Trump threatens to do something psychotic he follows through. Wonder how long it's going to be before we have boots on the ground in Greenland, Mexico, and Iran.
 
SteveGrabowski said:
I really think you shouldn't take Trump at his word that this is supposed to be a trade war. You should take him at his word that this is about raising revenues, e.g. taxing the fuck out of all of us. 45 years of autistic screeching from the Republicans about taxes and now they just put the biggest tax increase we have ever seen on the people.
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Trump is an idiot who doesn't understand that people can both win by trading. He sees the economic world in black and white as winners and losers. There is nothing special about it.
 
Indus said:
I didn't want to post this one but it makes sense again:

View attachment 121253

Clearly the next president's slogan should be.. MAMSA: Make America Make Sense Again!
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What a disconcerting realisation - of all the senior global politiicans in that picture, as far as I can make out Trump is the only one still in power (Shinzo Abe got shot dead - Trump of course escaped his attempted shooting unscathed). There's Theresa May - long gone from office, Merkel - retired, Macron - booted out, a couple of Japanese senior MPs/ministers (one since disgraced in some financial scandal, the other shuffled off to the UN), and Kudrow and Bolton, both now out of favour with Trump.
 
Brainonska511 said:
Trump is an idiot who doesn't understand that people can both win by trading. He sees the economic world in black and white as winners and losers. There is nothing special about it.
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He's just passing the Fair Tax and cloaking it as a trade war. He's not trying to win anything other than slashing taxes on the robber barons as he thinks this tax will raise enough revenue to do it.
 
fskimospy said:
I saw this posted elsewhere and it's totally accurate. Trump literally thinks that when you go to the grocery store and spend $50 on groceries you have now run a trade deficit of $50 with the grocery store.

It is really difficult to overstate just how stupid these people are.
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You give Trump way too much benefit of the doubt when you treat this as a trade war rather than a massive socialized tax. His explanations are stupid because they're some bullshit he makes up to pretend this isn't just a tax hike on all of us.
 
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