Trump says US will institute tariffs on steel and aluminum imports next week

[JFreak]

Clearly an entity with no conflict of interest, right?

Good to know you're on the side of the Chinese.

 

[1972 Grad]

I must be, I'm supposed to be sad when I lose money because a toddler causes me to lose money, right?

Let me know when you are down 6 figures in a month. I am.

 

[JFreak]

tariffs make things more expensive.

But can still result in a net positive for the US. Tough to wrap your head around I know.

 

[n_huffhines]

Good to know you're on the side of the Chinese.

Your arguments are desperate and terrible.

 

[MG1968]

Good to know you're on the side of the Chinese.

So, being against trade protectionism means you're on the side of America's economic rivals?

Who knew?

 

[Vol737]

Small buying opportunity today but I haven't done much. Financial advisor that handles some stuff for me just got back from a big conference. General outlook is that big money in NY expects a rough ride through the remainder of this year with more selloffs like the one a couple of weeks ago. They believe each one will present a nice buying opportunity and it will level back out.

 

[n_huffhines]

But can still result in a net positive for the US. Tough to wrap your head around I know.

No.

[youtube]https://www.youtube.com/watch?v=zhD--UeRiOI[/youtube]

 

[Septic]

Let me know when you are down 6 figures in a month. I am.

Ouch. Careful, Jfreak will call you a rookie if you say your sad about todays' 500 point drop.

 

[JFreak]

No.

Yes. Not gonna watch your little HS econ video, but judging by the embedded screenshot it doesn't even account for the job side of the equation.

 

[1972 Grad]

Ouch. Careful, Jfreak will call you a rookie if you say your sad about todays' 500 point drop.

I can't say that I'm happy, but this too shall pass.

 

[n_huffhines]

Yes. Not gonna watch your little HS econ video, but judging by the embedded screenshot it doesn't even account for the job side of the equation.

Your assumption is totally false, but I'd be happy to see your diagram of the issue with what you think is the job side of the equation included.

 

[SpaceCoastVol]

She sounds hideous.

That's cause she's a guy.

not talking about Rachael Maddow.

 

[JFreak]

Ouch. Careful, Jfreak will call you a rookie if you say your sad about todays' 500 point drop.

Lol. S&P 500 is down like what? 7% on the month after the drop today? Still up over 10% on the year. 1972 clearly has a decent amount of $$ in the market.. and he doesn't appear to be freaking out. Long term market conditions and underlying fundamentals still look good.

 

[Orangeburst]

$500+ Billion yearly trade deficits for goods seems more sane to me. I heard on Morning Joe that manufacturing is irrelevant to our future economic prosperity, so why the huff?

 

[Vol737]

These people who have mocked D's for decades because they don't understand basic economics do not understand basic economics.

Yep. It's not hard. Obama imposed a hefty tariff on Chinese tires in 09, democrats cheered it and.....

Obama got tough on China. It cost U.S. jobs and raised prices - Jan. 3, 2017

And then, whattaya know...

Obama signs tariff-relief bill | TheHill

Guess the question now is how much are consumers willing to absorb in higher prices before these policies have to get walked back? Trump is taking away any further opportunities to champion "his" stock market by the looks of the market reaction today. Why would someone flatten their own tires?

 

[1972 Grad]

Lol. S&P 500 is down like what? 7% on the month after the drop today? Still up over 10% on the year. 1972 clearly has a decent amount of $$ in the market.. and he doesn't appear to be freaking out. Long term market conditions and underlying fundamentals still look good.

I'm not down as large a percentage as the S&P or DOW. I also have bond funds. It could be worse.

 

[DancingOutlaw]

What does this even mean? It doesn't matter what kind of economy we are, tariffs make things more expensive.

You run a Dairy Queen. What material impact does a steel tariff have on you?

 

[allvol123]

$500+ Billion yearly trade deficits for goods seems more sane to me. I heard on Morning Joe that manufacturing is irrelevant to our future economic prosperity, so why the huff?

Is that why foreign automakers keep opening new plants in the south? Morning Joe sounds like a moron.

 

[IPleadInsanity]

Chinese have been using the interest on the money we borrow to subsidize their metal industries for years. This perpetuates the situation. Huge exports of metals increase the trade deficit, we borrow more money from China and they subsidize their industries keeping us in permanent debt. This is the base they use to abuse every orifice in the US economy. Try to ship your goods into China and see what the tariffs are. Totally protected market.

 

[allvol123]

You run a Dairy Queen. What material impact does a steel tariff have on you?

Price of cars that people drive to DQ will rise, thus less trips to the DQ.

 

[n_huffhines]

You run a Dairy Queen. What material impact does a steel tariff have on you?

If you buy anything with steel in it, your costs go up. If your customers buy anything with steel in it, they have less disposable income for Blizzards.

What's your point?

 

[JFreak]

Who is freaking out?

Sounds like you are.

Unreal. Enjoy the consequences, idiots.

 

[MG1968]

Chinese have been using the interest on the money we borrow to subsidize their metal industries for years. This perpetuates the situation. Huge exports of metals increase the trade deficit, we borrow more money from China and they subsidize their industries keeping us in permanent debt. This is the base they use to abuse every orifice in the US economy. Try to ship your goods into China and see what the tariffs are. Totally protected market.

So, trade protectionism is bad when China does it, but good when Trump does it?

 

[Grand Vol]

If you buy anything with steel in it, your costs go up. If your customers buy anything with steel in it, they have less disposable income for Blizzards.

What's your point?

So, are there different blades for the Blizzard?

Are they steel?

 

[n_huffhines]

So, are there different blades for the Blizzard?

Are they steel?

Come on, man. He picked a business he didn't think it would affect and it still has an impact. Think about the businesses where it has an obvious impact. Quibbling about exactly how much steel one business in one industry uses is sort of....stupid.