Trump and China call cease fire on tariffs

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sdifox

No Lifer
Sep 30, 2005
99,551
17,618
126
Lol yesterday's S&P 500 market cap loss is bigger than a whole year of Chinese import. Good job dotard.
 

VRAMdemon

Diamond Member
Aug 16, 2012
7,743
9,990
136
I assume he's going to huff around some more and talk about how China is cheating us, then when the pressure is really on and he knows he can't keep going without taking heat for sending the stock market into the shitter, he will quickly sign an agreement and announce that he was super tough and this deal gives the US way more than any president ever wrested from China before or ever will again. His base will probably not actually look at the terms of the agreement.

He has been Tweeting out like a deranged parrot this morning:

When the time is right we will make a deal with China. My respect and friendship with President Xi is unlimited but, as I have told him many times before, this must be a great deal for the United States or it just doesn’t make any sense. We have to be allowed to make up some....

....of the tremendous ground we have lost to China on Trade since the ridiculous one sided formation of the WTO. It will all happen, and much faster than people think!

Our great Patriot Farmers will be one of the biggest beneficiaries of what is happening now. Hopefully China will do us the honor of continuing to buy our great farm product, the best, but if not your Country will be making up the difference based on a very high China buy.....

....This money will come from the massive Tariffs being paid to the United States for allowing China, and others, to do business with us. The Farmers have been “forgotten” for many years. Their time is now!

Yeesh, what a blizzard of bullshit....

So basically the rest of the country is going to pay higher taxes on goods from China to subsidize Trump’s base (farmers).

"Patriot farmers"? Yup, got 100 acres of patriot to get in the barn..With all that patriotism in the barn, there must be a pony in there somewhere?

Translation: "I know it's my fault farmers are getting screwed by my ill-considered tariffs, but I'm hoping the farmers will blame China instead."

It appears Trump still thinks China pays the tariffs. His followers will still believe in him. "He was put here on earth in the White House by Jay-sus"
 

kage69

Lifer
Jul 17, 2003
30,931
46,389
136
Farming family near me just shut everything down, saw they were having an auction last week. I'd say 90% of their machinery is gone, and all the livestock.

They were already feeling the pain before Team Treason showed up, then dipshit started throwing his tariff tantrums. They believed Trump, hoped he was legit, but now they're just another farming family that feels betrayed and taken advantage of. I feel bad for them, believe they still have young kids in school.

Too bad it was a half black guy pushing for the TPP. Farmers would love to have the business they need, and better yet we and our partners would have a united trade front against China's cheating and theft. I hope conservatives in risky occupations start noticing the bullet wounds on their feet, more republican "governance" and we won't have too many farms left.
 
Nov 8, 2012
20,842
4,785
146
So market is up 400 after being down ~650 yesterday? Good ol' volatility. I haven't heard of any potential good news to dictate going back up?
 

fskimospy

Elite Member
Mar 10, 2006
87,726
54,731
136
So market is up 400 after being down ~650 yesterday? Good ol' volatility. I haven't heard of any potential good news to dictate going back up?

Total US trade with China is about $740 billion while US GDP is about $20 trillion. People and markets often vastly overestimate the impact of trade and how big a part of our economy it is.

So while this trade war is a deeply stupid endeavor where Americans are paying money to make our society less efficient it’s just not that big a deal from an economy perspective.
 

1prophet

Diamond Member
Aug 17, 2005
5,313
534
126
________[/QUOTE]
Governments are more interested in protecting politically powerful constituencies than what is most economically efficient.

Slavery and exploitation of workers with little to no rights is very efficient too, and some of those once politically powerful constituencies are the unions that liberals like to pay lip service to during elections, but consider them overpriced when they go shopping where made in China will do, or from other countries with little to no labor, environmental, or safety laws or ones that are lightly enforced.

Alot of you pretend liberals are just as brainwashed as the Trumpians you like to point the finger at, but perhaps if you both wake up you will realize you are just useful fools for the ultra rich while you fight among yourselves in order to win the race to the bottom where first place is the biggest loser.

What you are seeing today when you look at the state of the country is the end result of the mentality of corporate America over 30 years ago that devalued the employee for the senior management and their buddies through interlocking directorates (under the guise of it's all for the shareholders), where employees are not Persons but Human Resources like cattle or slaves to be exploited in any which way possible in the name of profits, and outsourcing has allowed them to bypass all of those pesky rules, regulations, and unions while the consumer was told they are spreading democracy through free markets while getting cheap prices.

https://theweek.com/articles/486362/where-americas-jobs-went

When did offshoring become so prevalent?
The trend began in earnest in the late 1970s at large manufacturers such as General Electric. GE’s then CEO, Jack Welch, who was widely respected by other corporate chieftains, argued that public corporations owe their primary allegiance to stockholders, not employees. Therefore, Welch said, companies should seek to lower costs and maximize profits by moving operations wherever is cheapest. “Ideally,” Welch said, “you’d have every plant you own on a barge to move with currencies and changes in the economy.” Not only did GE offshore much of its manufacturing, so did its parts suppliers, which were instructed at GE-orchestrated “supplier migration seminars” to “migrate or be out of business.”

Now your chickens or big chicken if you would has come home to roost.

donaldtrump-credit-notions-capital-flickr-creative-commmons.jpg
 
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kage69

Lifer
Jul 17, 2003
30,931
46,389
136


Slavery and exploitation of workers with little to no rights is very efficient too, and some of those once politically powerful constituencies are the unions that liberals like to pay lip service to during elections, but consider them overpriced when they go shopping where made in China will do, or from other countries with little to no labor, environmental, or safety laws or ones that are lightly enforced.

Alot of you pretend liberals are just as brainwashed as the Trumpians you like to point the finger at, but perhaps if you both wake up you will realize you are just useful fools for the ultra rich while you fight among yourselves in order to win the race to the bottom where first place is the biggest loser.

What you are seeing today when you look at the state of the country is the end result of the mentality of corporate America over 30 years ago that devalued the employee for the senior management and their buddies through interlocking directorates (under the guise of it's all for the shareholders), where employees are not Persons but Human Resources like cattle or slaves to be exploited in any which way possible in the name of profits, and outsourcing has allowed them to bypass all of those pesky rules, regulations, and unions while the consumer was told they are spreading democracy through free markets while getting cheap prices.

https://theweek.com/articles/486362/where-americas-jobs-went

When did offshoring become so prevalent?
The trend began in earnest in the late 1970s at large manufacturers such as General Electric. GE’s then CEO, Jack Welch, who was widely respected by other corporate chieftains, argued that public corporations owe their primary allegiance to stockholders, not employees. Therefore, Welch said, companies should seek to lower costs and maximize profits by moving operations wherever is cheapest. “Ideally,” Welch said, “you’d have every plant you own on a barge to move with currencies and changes in the economy.” Not only did GE offshore much of its manufacturing, so did its parts suppliers, which were instructed at GE-orchestrated “supplier migration seminars” to “migrate or be out of business.”

Now your chickens or big chicken if you would has come home to roost. [/QUOTE]

Funny stuff. Carry that water bucket boy.
 

soundforbjt

Lifer
Feb 15, 2002
17,788
6,041
136
Watched some interviews with farmers in Iowa that voted for Trump, they said no way would they vote for him again. One had a third of last years harvest still unsold and in storage and said this year will cost him more to plant and harvest than what it will be worth on the market.
He said between him and his daughter, they lost over $100K last year.
 

Bitek

Lifer
Aug 2, 2001
10,676
5,239
136
Watched some interviews with farmers in Iowa that voted for Trump, they said no way would they vote for him again. One had a third of last years harvest still unsold and in storage and said this year will cost him more to plant and harvest than what it will be worth on the market.
He said between him and his daughter, they lost over $100K last year.

Hope owning the libs and the Mexicans was worth it...

Otherwise he didn't really think his vote through on what it would do to him.
 

Paul98

Diamond Member
Jan 31, 2010
3,732
199
106
So market is up 400 after being down ~650 yesterday? Good ol' volatility. I haven't heard of any potential good news to dictate going back up?

No news needed for a retracement like that after a large drop. It was doing that sort of move all last week, but in a single day vs two days
 

SMOGZINN

Lifer
Jun 17, 2005
14,359
4,638
136
Watched some interviews with farmers in Iowa that voted for Trump, they said no way would they vote for him again. One had a third of last years harvest still unsold and in storage and said this year will cost him more to plant and harvest than what it will be worth on the market.
He said between him and his daughter, they lost over $100K last year.

It is almost that the opinions of those educated elites are actually more valuable than that of the uneducated! You mean we can't actually solve extremely complex highly nuanced problems with the simplicity of hitting it with a hammer? Who knew that global economic trade agreements could be so hard?
 

VRAMdemon

Diamond Member
Aug 16, 2012
7,743
9,990
136
More on the Kudlow-Trump affair:

http://www.msnbc.com/rachel-maddow-s...te-house#break

Trump was irritated on Sunday after National Economic Council Director Larry Kudlow acknowledged on “Fox News Sunday” that American consumers end up paying for the administration’s tariffs on Chinese imports, contradicting Trump’s claim that the Chinese foot the bill, officials said.

“Trump called Larry, and they had it out,” according to one White House official who was not authorized to speak publicly.

In fairness, it’s worth emphasizing that there’s no official account of the conversation, and the Post spoke to others who claimed the post-interview conversation between Trump and Kudlow was far less contentious.

But if the White House official who said the two “had it out” was correct, it’s emblematic of a larger problem.



In this case, we know Kudlow was right and Trump was wrong. Kudlow was certainly diplomatic when acknowledging reality on “Fox News Sunday” – the alternative likely would’ve ended his White House tenure – but he left little doubt that the president’s arguments on trade are demonstrably untrue.

And that, according to one source, left Trump unhappy – not because Kudlow was wrong, but because he told the truth in a way that cast the president in an unflattering light.

The model Trump seems to prefer is a dynamic in which his team not only accepts his falsehoods as facts but is also willing to peddle his fictions to the public without regard for their accuracy.

It’s too important an issue for deliberations driven entirely by the president’s ego, confusion, and delicate sensibilities, but by some accounts, this is nevertheless where we find ourselves.

This is what happens when you correct the president's misconceptions/blatant lies. That's the catch-22 of the Trump administration. Competent people keep screwing up by telling the truth instead of repeating Trump's lies, but replacing them with incompetents only puts screw-ups in their place.

So it's sort of the Bizarro Peter Principle: Incompetent employees will continue to be promoted within the administration, but at some point they will be promoted into positions for which their incompetence can provide maximum usefulness for their worthless boss. Perhaps we could call it the Covfefe Principle.
 

hal2kilo

Lifer
Feb 24, 2009
25,755
12,063
136
Watched some interviews with farmers in Iowa that voted for Trump, they said no way would they vote for him again. One had a third of last years harvest still unsold and in storage and said this year will cost him more to plant and harvest than what it will be worth on the market.
He said between him and his daughter, they lost over $100K last year.
A lot of them are not even going to bother to plant. Can't wait to see how the cost of bread, and cereal is going to go up next year.