Trade Wars and Tariffs

#2,205
#2,205
Ritzwatch said:
Wait, so Trump has done more to narrow the “wealth gap” than any other President in modern history, and the libs are mad? SMH.
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Can’t have a wealth gap. The world might stop spinning if the top 1% have garages full of Rolls Royces and Ferraris. How dare them spend their money on $2,000 purses, $5,000 suits, and $250,000 watches. The gubment should confiscate all that wealth and give it to the welfare mothers with 8 kids and just as many baby daddies.
 
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#2,207
#2,207
MontyPython said:
Dude this is about the most economically ignorant post I’ve read in awhile.

We’re the most wealthy country in the world with the largest economy to boot. Trumps tariffs are inflationary, so Powell - as he’s already said - is unlikely to lower interest rates. If anything, we’re facing stagflation.

Just stop with the absurd MAGA line.
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if the country continues the way its has been going with deficits/debt, the country is going to be bankrupt.

--the US GDP includes gov't spending. Biden's reckless spending kept GDP artificially high. Take away gov't spending out of GDP then we have been in a recession for the last couple, three years

--depending on how gdp is measured (PPP), China has the biggest economy


 
#2,210
#2,210
Thunder Good-Oil said:
Where does “3-5 years” come from? Musk had the data center in Memphis up and running in 4 months. There are tens of thousands of shuttered production facilities all over the country to utilize.
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Most of the announcements here in the Midwest (new plants for autos)/parts) usually have a 3-5 year lead time.
 
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#2,212
#2,212
Vol8188 said:
I bet you’re a lot of fun at parties.

“You only drink white wine? Sorry I don’t hang out with bigoted skanks!”
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tbf white wine makes me incredibly vulgar in public. I mean I'm cheerful and everything but I'm liable to blurt out the most heinous **** in front of the most dignified person in sight
 
#2,213
#2,213
Thunder Good-Oil said:
Where does “3-5 years” come from? Musk had the data center in Memphis up and running in 4 months. There are tens of thousands of shuttered production facilities all over the country to utilize.
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But even if they re opened the workers would be getting paid five times what labor costs overseas. Which means that, even if re opened, the cost of goods made in those factories would be much more expensive than if we buy overseas.

Which means inflation. And not by tenths of a percent.
 
#2,214
#2,214
jmacvols1 said:
37 trillion in debt is not rich, about 1.5 trillion dollars per year just to pay interest on debt.

if I had 5 million but owed 70 million, am I rich? if I borrow 5 million just to pay the interest on the 70 million am I rich? The US has 9 trillion dollars coming due on the debt. Trump is trying to get interest rates down to refinance that 9 trillion.

www.wita.org

The U.S. Trade Deficit - WITA

Home Previous Page Documents What is the Trade Deficit? Information Courtesy Congressional Research Service, IF11016 What is the trade deficit? The “trade deficit” generally is used to refer to...
www.wita.org www.wita.org
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I love it when we put these big numbers into more relatable terms. Here's another one that might make it even more understandable. According to a Forbes survey, a large majority of Americans have less than $5,000 in savings. (I am taking a little license with the data because there is a TON of it in the article). TO use your example, those people owe an average of $70,000. Like you asked; are they 'rich'? I guess in that case it would depend on whether or not the debt is a home mortgage, but I am guessing someone with $5k in savings is either living paycheck to paycheck or is completely irresponsible with their financing, and probably couldn't get a $70K mortgage. Either way, the comparison to the .gov is pretty accurate.
 
#2,217
#2,217
Ritzwatch said:
Economy grew at 37% in the 50’s.

Unemployment was fairly low and stable.

Purchasing power went up 30%.

We can do a lot worse than the 50’s economy.

I’d take our worldwide performance in education and cost/benefit in healthcare from the 50’s, too.

Count me as a vote for the best of the 1950’s (as long as my family doesn’t have to drink at separate fountains. 👍🏾)
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His butthurt gets his mouth in trouble doesn't it? LOL
 
#2,218
#2,218
Dergibvol said:
Most of the announcements here in the Midwest (new plants for autos)/parts) usually have a 3-5 year lead time.
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There’s a new sheriff in town. One that isn’t hostile toward capitalism.

How many of those 3-5 year leads require land prep, infrastructure, and regulation obstacles to maneuver around?
 
#2,219
#2,219
lawgator1 said:
But even if they re opened the workers would be getting paid five times what labor costs overseas. Which means that, even if re opened, the cost of goods made in those factories would be much more expensive than if we buy overseas.

Which means inflation. And not by tenths of a percent.
Click to expand...
So it's all about cheap stuff then. You don't GAF about American jobs. Gotcha.

So much for lefties being the workers party, amiright?
 
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#2,222
#2,222
BigOrangeMojo said:
Income Taxes dont impact companies uniformly. See FedEx and UPS example earlier.

If there was a huge increase in employer share of payroll taxes (from 7.65% to 12.65% for example), that would get passed through since it impacts companies much more uniformly. You saw with labor costs with COVID, that would get passed along pretty quick.

Tarrifs are much more uniform. If 10 retailers sell the same Samsung TV that has a 20% tarrif on it, it will impact them all pretty much the same
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Good. So tariffs ensure that everybody has a little skin in the game.
 
#2,223
#2,223
lawgator1 said:
But even if they re opened the workers would be getting paid five times what labor costs overseas. Which means that, even if re opened, the cost of goods made in those factories would be much more expensive than if we buy overseas.

Which means inflation. And not by tenths of a percent.
Click to expand...

What’s the minimum wage for robots?
 
#2,225
#2,225
MontyPython said:
Dude this is about the most economically ignorant post I’ve read in awhile.

We’re the most wealthy country in the world with the largest economy to boot. Trumps tariffs are inflationary, so Powell - as he’s already said - is unlikely to lower interest rates. If anything, we’re facing stagflation.

Just stop with the absurd MAGA line.
Click to expand...
You have kids? I don't. I am all for running it all at red line until it blows up. It's your kids that will pay the price, not mine.
 
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