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Trump and China call cease fire on tariffs

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Victorian Gray said:
Then you support the wrong party.

Republican Senators Introduce Bill To Cut Legal Immigration in Half

"A trio of Republican senators reintroduced the Reforming American Immigration for a Strong Economy Act (RAISE) Act last week, which seeks to reduce legal immigration by 50 percent.

Spearheaded by Sen. Tom Cotton (R–Ark.) with support from Sens. David Perdue (R–Ga.) and Josh Hawley (R–Mo.), the bill would establish a merit-based point system that prizes those with lucrative job offers, U.S.-recognized college degrees, domestic financial holdings, and English language skills. It also aims to undercut White House Adviser Jared Kushner, who has pushed a plan in recent months that would give temporary visas to migrant workers.

President Trump lauded the RAISE Act when it was first unveiled in July 2017, characterizing the current immigration setup as "a terrible system where anybody comes in," particularly "people that have never worked" and "people that are criminals."

https://reason.com/2019/04/16/republican-senators-introduce-bill-to-cut-legal-immigration-in-half/


Trump Supports Plan to Cut Legal Immigration by Half

https://www.nytimes.com/2017/08/02/us/politics/trump-immigration.html
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Yeh, all Americans should want immigrants who slot into the economic food chain above them. It means the Jerb Creators can neglect education in this country & still get what they want. Cheap, too. Don't have to train anybody, either.

Rich Republicans don't care. Their kids go to private schools, anyway.

Hail Trump! Hail Trickle Down!
 
Jhhnn said:
Yeh, all Americans should want immigrants who slot into the economic food chain above them. It means the Jerb Creators can neglect education in this country & still get what they want. Cheap, too. Don't have to train anybody, either.
Rich Republicans don't care. Their kids go to private schools, anyway.
Hail Trump! Hail Trickle Down!
Click to expand...
It's poor Republicans who elect politicians who gut spending on their kids education.
 
it's pretty obvious that trump does not understand how tariffs work, he seem to think the subject of the tariffs pay, in this case china, when in actuality it's us.

even with my rudimentary comprehension I can figure out you put tariffs on products you think are undercutting your products, there by making domestic products more attractive to customers.
 
The captain has turned on the seatbelt sign. Please put your seats and trays in their upright and locked positions. There be turbulence ahead.
 
I sold quite a bit into cash early last week in anticipation of The Dotard being unable to close the deal and fking things up.

Additionally the market was a high, finally back to Oct 2018 levels, and there seemed little to gain staying all in.

Last time in Oct we had Slow's brag thread as an early indicator of trouble. I didn't see that this time, but I didn't want to get caught w/o a decent amt of cash if/when the market tanks again.

Last time I did open a sizable position in AAPL @ ~$155 from Dec to Jan, and sold last week over $200 after their earnings call.

We'll see what happens. Lemons into lemonade.

AAPL 2019.05~01.png
 
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Cashed out a bunch of APPL @ 209 at the beginning of May after I was told by several smart financial people that a China deal was baked. Until dinner is served I do not believe it.
 
In response to Kudlow's admission, Trump does appear to be backing off his insistence that China is paying for the tariff, rather than US companies. But he's still insisting that it's hurting China worse than it hurts the US:

https://www.usatoday.com/story/news/...st/1186468001/

The funny thing is looking at reporting about the DJIA's current (as I type this) 500 point slide is that much of the blame is being put on Kudlow's admission and not the actual policies themselves. Of course, everyone dumping right now knew before Kudlow that Americas consumers are paying the tariffs, but as long as the lie was maintained, we could fool ourselves and keep the capital markets high.
 
So...... the stock market is dow, I meant DOWN. 😳
Up and down. Economy and tariffs.
Too bad the market doesn't dive bomb over things like, oh say.... people having no healthcare.
Or families trying to exist on 10 bucks an hour.
Or property taxes going thru the roof.
Or education being cut and cut and cut cut cut.
Or how about the market crashing because congress refuses to address guns and enact gun laws?
Or..... OR..... the market crashes after 15 school children are gunned down by some maniac the NRA insists should own an assault weapon?

YEAH!!!
How about a market that reacts to news like that above?
And if the market did react accordingly, then just maybe we'd have 15 dollars an hour as the national starting wage.
And maybe we'd have universal healthcare for everyone.
And maybe we'd have fair taxation of the extremely wealthy and massive corporations like Amazon.
And maybe we'd have decent schools providing top notch educations and teachers paid a worthy wage.
And just maybe presidents and congress would pass gun control laws? Laws a majority of Americans desperately want.

But no......
We have a stock market that only reacts when it involves the top 1%, or involves the Trump's family financial bottom line, or involves other shit that has nothing what so ever to do with the plight and struggles of real American families.
So let the F$$ker crash. I doubt the middle class will notice.
Amazon and Apple might shit bricks, but the middle class will be just fine and dandy.
 
dawp said:
it's pretty obvious that trump does not understand how tariffs work, he seem to think the subject of the tariffs pay, in this case china, when in actuality it's us.

even with my rudimentary comprehension I can figure out you put tariffs on products you think are undercutting your products, there by making domestic products more attractive to customers.
Click to expand...

I'm almost to the point thinking that this knucklehead thinks that if he imposes a 25% tariff on China, that the Chinese government writes a check to the US treasury.
 
Bitek said:
I sold quite a bit into cash early last week in anticipation of The Dotard being unable to close the deal and fking things up.

Additionally the market was a high, finally back to Oct 2018 levels, and there seemed little to gain staying all in.

Last time in Oct we had Slow's brag thread as an early indicator of trouble. I didn't see that this time, but I didn't want to get caught w/o a decent amt of cash if/when the market tanks again.

Last time I did open a sizable position in AAPL @ ~$155 from Dec to Jan, and sold last week over $200 after their earnings call.

We'll see what happens. Lemons into lemonade.

View attachment 6282
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You're not alone. I had quite a few people last week shifting to cash in anticipation. I guess the orange dotard tweeting to China not to retaliate wasn't as effective as he hoped it would be.
 
VRAMdemon said:
In response to Kudlow's admission, Trump does appear to be backing off his insistence that China is paying for the tariff, rather than US companies. But he's still insisting that it's hurting China worse than it hurts the US:

https://www.usatoday.com/story/news/...st/1186468001/

The funny thing is looking at reporting about the DJIA's current (as I type this) 500 point slide is that much of the blame is being put on Kudlow's admission and not the actual policies themselves. Of course, everyone dumping right now knew before Kudlow that Americas consumers are paying the tariffs, but as long as the lie was maintained, we could fool ourselves and keep the capital markets high.
Click to expand...

Last Q4 we had a perfect shitstorm of trade deal worries, Trump hammering the Fed chair on Twitter for lower rates, then the gov shutdown.

This time around there is no shutdown to worry about, and the Fed has reversed course on % rates, so now it's a topped out market and a trade deal blowing up, with the whole Constitutional Crisis simmering in the background.

However, like @sportage comments, the market doesn't necessarily focus on those other things. It's about predictions of profits and that's about it.

To add to the irony of Trump team's own words making waves, people are saying the Chinese took Trump's comments against the Fed and push for lower rates as an indication of economic weakness and thus an advantage to press for a more favorable deal.

Turns out they gave him for credit than he deserves. He was just talking out his ass and wants to stack the deck for 2020 with a hot economy. He doesn't care about long term concerns.
 
Jhhnn said:
Yeh, all Americans should want immigrants who slot into the economic food chain above them. It means the Jerb Creators can neglect education in this country & still get what they want. Cheap, too. Don't have to train anybody, either.

Rich Republicans don't care. Their kids go to private schools, anyway.

Hail Trump! Hail Trickle Down!
Click to expand...
Oh I bet in certain areas in the south, you'd be surprised how many kids go to private religious academies.
 
Ross is hinting that the US will tariff European autos/auto parts this month.

After kicking the Midwest in the teeth on AG it seems the admin wants to kick the south in the balls on auto production.
 
K1052 said:
Ross is hinting that the US will tariff European autos/auto parts this month.

After kicking the Midwest in the teeth on AG it seems the admin wants to kick the south in the balls on auto production.
Click to expand...

Great plan. Let's attack our allies and open up multiple war fronts.

Always a winning formula...

If I was Putin, what else could I possibly ask for?

I hope Lindsay Graham's voters are the cannon fodder in this stupidity.
 
K1052 said:
Ross is hinting that the US will tariff European autos/auto parts this month.

After kicking the Midwest in the teeth on AG it seems the admin wants to kick the south in the balls on auto production.
Click to expand...

Europe already has historically tariffed OUR autos. When they do it it's A-Okay, but when we do it it will backfire and only hurt us?

I just get the feeling that people here aren't economic majors to know what the end-result of tariffs will be.
 
s0me0nesmind1 said:
Europe already has historically tariffed OUR autos. When they do it it's A-Okay, but when we do it it will backfire and only hurt us?

I just get the feeling that people here aren't economic majors to know what the end-result of tariffs will be.
Click to expand...

I don't mind these tariffs.. only fuckers who buy BMW's and Benz's will have to pay and I ain't buying those.
 
s0me0nesmind1 said:
Europe already has historically tariffed OUR autos. When they do it it's A-Okay, but when we do it it will backfire and only hurt us?

I just get the feeling that people here aren't economic majors to know what the end-result of tariffs will be.
Click to expand...

The US has had a 25% tariff on imported light trucks since 1964. Any claim that the US does not and did not long tariff vehicles so any EU tariffs are unfair is bullshit.

Tariffs are bad. Really protectionist tariffs are really really bad. We know these things.
 
K1052 said:
The US has had a 25% tariff on imported light trucks since 1964. Any claim that the US does not and did not long tariff vehicles so any EU tariffs are unfair is bullshit.

Tariffs are bad. Really protectionist tariffs are really really bad. We know these things.
Click to expand...

Because... reasons?

I don't think it's as well defined and valid as you proclaim. I would estimate that it's more on a case-by-case basis depending on industry, labor, material costs and locations, etc..
 
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