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Offlinemusiclover420
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Trump's "easy to win" trade war wipes out 2018 DOW gains
    #25279084 - 06/19/18 03:36 PM (5 years, 9 months ago)

https://www.vanityfair.com/news/2018/06/trumps-trade-war-wipes-out-2018-dow-gains

Quote:

On Friday, continuing to labor under the (now fully debunked) assumption that trade wars are “good” and “easy to win,” Donald Trump announced tariffs on $50 billion of Chinese imports, with the first $34 billion going into effect July 6. Predictably, China announced a plan to retaliate, saying it would “immediately introduce the same scale and equal taxation measures,” and that “all economic and trade achievements reached by the two sides will be invalidated.” At this point, small children across the world could tell you that Beijing will hit back in kind every time the U.S. ratchets up its tariffs. But the current administration, perpetually slow on the uptake, was seemingly surprised by the move. Because on Monday night, by way of payback, President Twitter threatened to impose an additional 10-percent tariff on $200 billion of Chinese imports. And you can probably guess how that went over:

Beijing warned it would retaliate, in a rapid escalation of the trade conflict between the world’s two biggest economies.

In a statement, China’s commerce ministry said the nation will fight back with both “qualitative” and “quantitative” measures if the Trump administration follows through on last night’s threat, saying “such a practice of extreme pressure and blackmailing deviates from the consensus reached by both sides on multiple occasions.” He added: “The United States has initiated a trade war and violated market regulations, and is harming the interests of not just the people of China and the U.S., but of the world.”

The back-and-forth sent global markets sliding, with the S&P 500 falling for a third day straight and the Cboe Volatility Index rising the most in three weeks. “The degree of both rhetoric and substance behind the proposals that have gone back and forth recently is worrisome,” Mark Howard, a senior multi-asset specialist at BNP Paribas, told Bloomberg TV. “This has caused a bit of a risk-off trade today, and it’s a cause of caution by major investors.” The nosedive was so severe, in fact, that it managed to do this:

Of course, China isn’t the only one Trump has pissed off with his economic “policies” as of late. He spent much of late May flipping off the U.S.’s closest economic (and political) allies, going full throttle on his aluminum and steel tariffs, which European Commission President Jean-Claude Juncker called “unjustified,” and to which the E.U. will respond with tariffs of its own on U.S. goods staring in July. Mexico is on its way to imposing $3 billion worth of its own tariffs, and Canada, equally unenthused about Trump’s tactics, responded with duties on $16.6 billion in U.S.-made products. But it’s on the China front that an all-out trade war seems most inevitable. So far, that’s all well and good with Trump’s base, but these happy days could very well come to a screeching halt. “Trump’s biggest crisis will come if the trade wars cause a slowdown in the economy,” one Republican told Axios. “The boom is giving him a cushion against the impact of his policies, personal behavior, and impetuous decision-making. No boom, no cushion. Political collapse.”








:strokebeard:


--------------------
Don't worry about me, I've got all that I need. And I'm singing my song to the sky

You know how it feels, With the breeze of the sun in your eyes. Not minding that time's passing by

I've got all and more, My smile, just as before. Is all that I carry with me

I talk to myself, I need nobody else. I'm lost and I'm mine, yes I'm free


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Offlineqman
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Re: Trump's "easy to win" trade war wipes out 2018 DOW gains [Re: musiclover420]
    #25279090 - 06/19/18 03:39 PM (5 years, 9 months ago)

What's good for Main Street sometimes isn't good for Wall Street, why are you siding with the Fat Cats instead of Joe Six-Pack? 

I thought "liberals" wanted to stick it to Wall Street one day? Oh let me guess, it's not cool if Trump is doing it.  :rofl2:

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Offlinemusiclover420
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Re: Trump's "easy to win" trade war wipes out 2018 DOW gains [Re: qman] * 2
    #25279114 - 06/19/18 03:50 PM (5 years, 9 months ago)

Quote:

qman said:
What's good for Main Street sometimes isn't good for Wall Street, why are you siding with the Fat Cats instead of Joe Six-Pack? 

I thought "liberals" wanted to stick it to Wall Street one day? Oh let me guess, it's not cool if Trump is doing it.  :rofl2:




Who said I am siding with anyone? You really assume a lot...

Literally just read and posted an article, you can interpret it how you want :shrug:

:goodluckwiththat2:


--------------------
Don't worry about me, I've got all that I need. And I'm singing my song to the sky

You know how it feels, With the breeze of the sun in your eyes. Not minding that time's passing by

I've got all and more, My smile, just as before. Is all that I carry with me

I talk to myself, I need nobody else. I'm lost and I'm mine, yes I'm free


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OfflineMorel Guy
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Re: Trump's "easy to win" trade war wipes out 2018 DOW gains [Re: musiclover420]
    #25279137 - 06/19/18 04:01 PM (5 years, 9 months ago)

The trade war is going to turn into a hot war with no US Allies!


--------------------
"in sterquiliniis invenitur in stercore invenitur"

In filth it will be found in dung it will be found

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Offlineqman
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Re: Trump's "easy to win" trade war wipes out 2018 DOW gains [Re: musiclover420]
    #25279146 - 06/19/18 04:04 PM (5 years, 9 months ago)

Quote:

musiclover420 said:
Quote:

qman said:
What's good for Main Street sometimes isn't good for Wall Street, why are you siding with the Fat Cats instead of Joe Six-Pack? 

I thought "liberals" wanted to stick it to Wall Street one day? Oh let me guess, it's not cool if Trump is doing it.  :rofl2:




Who said I am siding with anyone? You really assume a lot...

Literally just read and posted an article, you can interpret it how you want :shrug:





Ok Vanityfair. :lol:

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Offlinemusiclover420
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Re: Trump's "easy to win" trade war wipes out 2018 DOW gains [Re: qman]
    #25279168 - 06/19/18 04:15 PM (5 years, 9 months ago)

Quote:

qman said:
Ok Vanityfair. :lol:




Yes and I'm sure you always pay attention to your sources and only use reliable info right? OH wait I can't even remember you ever bothering to include sources for your claims :grin:

I doubt CNN is any better for you but here's another similar article: http://money.cnn.com/2018/03/14/news/economy/trade-war-economic-cost/index.html

Quote:

A full-blown trade war would erase any economic benefits from the Republican tax cuts passed last year, according to an analysis by the University of Pennsylvania.




Doesn't seem like the tax cuts led to many benefits (for the lower class at least) So this could put us in the red...


--------------------
Don't worry about me, I've got all that I need. And I'm singing my song to the sky

You know how it feels, With the breeze of the sun in your eyes. Not minding that time's passing by

I've got all and more, My smile, just as before. Is all that I carry with me

I talk to myself, I need nobody else. I'm lost and I'm mine, yes I'm free


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OnlineThe Ecstatic
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Re: Trump's "easy to win" trade war wipes out 2018 DOW gains [Re: musiclover420]
    #25279176 - 06/19/18 04:19 PM (5 years, 9 months ago)

When we run out of money to fund Trump's starship troopers fantasy his supporters will just blame the globalists.


--------------------

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OnlineThe Ecstatic
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Re: Trump's "easy to win" trade war wipes out 2018 DOW gains [Re: qman] * 4
    #25279181 - 06/19/18 04:22 PM (5 years, 9 months ago)

Quote:

qman said:
What's good for Main Street sometimes isn't good for Wall Street, why are you siding with the Fat Cats instead of Joe Six-Pack? 

I thought "liberals" wanted to stick it to Wall Street one day? Oh let me guess, it's not cool if Trump is doing it.  :rofl2:




Is higher priced goods helping main street?


Lol this is what i love about capitalists, they think big business will just throw up their hands and say "welp! guess we'll take that loss, you sure got us Donald," when in reality the costs will just be passed on to the consumer.


--------------------

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Offlinemusiclover420
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Re: Trump's "easy to win" trade war wipes out 2018 DOW gains [Re: The Ecstatic]
    #25279190 - 06/19/18 04:26 PM (5 years, 9 months ago)

Quote:

The Ecstatic said:
Quote:

qman said:
What's good for Main Street sometimes isn't good for Wall Street, why are you siding with the Fat Cats instead of Joe Six-Pack? 

I thought "liberals" wanted to stick it to Wall Street one day? Oh let me guess, it's not cool if Trump is doing it.  :rofl2:




Is higher priced goods helping main street?


Lol this is what i love about capitalists, they think big business will just throw up their hands and say "welp! guess we'll take that loss, you sure got us Donald," when in reality the costs will just be passed on to the consumer.




I wonder how many jobs this trade war has already lost... 10k? 100k? I would wager somewhere between those 2 numbers if not more.

Oh look: Over 146,000 Americans will lose their jobs because of Trump’s trade tariffs

First estimate I found says around 150k jobs from the steel tariffs alone:

Quote:

Donald Trump’s long-standing promise to use import tariffs to try to revive the US steel and aluminum industry was opposed by US economists, labor experts, and even the industries themselves—but the White House did it anyway. As a result, over 146,000 Americans will lose their jobs, economists estimate.




MAGA amiright?... Oh look, more MAGA:

In Trump's First Year, the U.S. Lost Almost 10,000 Solar Jobs
https://www.cbsnews.com/news/trumps-tariffs-not-immigration-may-lead-to-lost-u-s-jobs/


--------------------
Don't worry about me, I've got all that I need. And I'm singing my song to the sky

You know how it feels, With the breeze of the sun in your eyes. Not minding that time's passing by

I've got all and more, My smile, just as before. Is all that I carry with me

I talk to myself, I need nobody else. I'm lost and I'm mine, yes I'm free


Edited by musiclover420 (06/19/18 04:29 PM)

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InvisibleStonehenge
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Re: Trump's "easy to win" trade war wipes out 2018 DOW gains [Re: musiclover420]
    #25279205 - 06/19/18 04:33 PM (5 years, 9 months ago)

Oh golly did the stock market dip a little bit? It has never done that before has it? lol Trump did the right thing hitting china and china will end up giving ground watch and see.


--------------------
“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755

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Offlinesprinkles
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Re: Trump's "easy to win" trade war wipes out 2018 DOW gains [Re: musiclover420]
    #25279209 - 06/19/18 04:35 PM (5 years, 9 months ago)

I remember when he said he would be the best president America ever had, and how he would make America great again.  I keep asking people if America is great again yet, I haven't heard anyone say yes.



I'm tired of poeoples lies and false claims.  The only person I can trust 100% who wont lie to me is my own mother. 


I used to be really gullible, I will believe anything & everything people say, because why would they lie?  I just assume other people are like me I suppose.  then I am let down cause my expectations that peoples actions will follow in step with their words.  This is hardly ever the case.  I still give people the benefit of the doubt that people are telling the truth but I will sometimes question motivation, intent, or if someone has some possible hidden agenda. 


I guess what I'm saying is that peoples lies have made me wise.  I fail a lot at stuff too, and if wisdom comes from failure than I'm like the smartest person in history, probably.


--------------------
welcome to my world http://www.shroomery.org/forums/postlist.php/Board/326

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Offlinemusiclover420
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Re: Trump's "easy to win" trade war wipes out 2018 DOW gains [Re: Stonehenge]
    #25279210 - 06/19/18 04:35 PM (5 years, 9 months ago)

Quote:

Stonehenge said:
Oh golly did the stock market dip a little bit? It has never done that before has it? lol Trump did the right thing hitting china and china will end up giving ground watch and see.




Yeah 150k lost jobs is just a "dip", want to tell all those out of work people yourself? "don't worry guys it's just a dip, trade wars are totally easy to win , MAGA!"

:rofldrunk:


--------------------
Don't worry about me, I've got all that I need. And I'm singing my song to the sky

You know how it feels, With the breeze of the sun in your eyes. Not minding that time's passing by

I've got all and more, My smile, just as before. Is all that I carry with me

I talk to myself, I need nobody else. I'm lost and I'm mine, yes I'm free


Extras: Filter Print Post Top
Offlineqman
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Re: Trump's "easy to win" trade war wipes out 2018 DOW gains [Re: The Ecstatic]
    #25279222 - 06/19/18 04:43 PM (5 years, 9 months ago)

Quote:

The Ecstatic said:
Quote:

qman said:
What's good for Main Street sometimes isn't good for Wall Street, why are you siding with the Fat Cats instead of Joe Six-Pack? 

I thought "liberals" wanted to stick it to Wall Street one day? Oh let me guess, it's not cool if Trump is doing it.  :rofl2:




Is higher priced goods helping main street?


Lol this is what i love about capitalists, they think big business will just throw up their hands and say "welp! guess we'll take that loss, you sure got us Donald," when in reality the costs will just be passed on to the consumer.




So you take issue with Bernie and his position on US trade agreements and the massive trade deficit?

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Offlineqman
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Re: Trump's "easy to win" trade war wipes out 2018 DOW gains [Re: musiclover420]
    #25279228 - 06/19/18 04:44 PM (5 years, 9 months ago)

Quote:

musiclover420 said:
Quote:

qman said:
Ok Vanityfair. :lol:




Yes and I'm sure you always pay attention to your sources and only use reliable info right? OH wait I can't even remember you ever bothering to include sources for your claims :grin:

I doubt CNN is any better for you but here's another similar article: http://money.cnn.com/2018/03/14/news/economy/trade-war-economic-cost/index.html

Quote:

A full-blown trade war would erase any economic benefits from the Republican tax cuts passed last year, according to an analysis by the University of Pennsylvania.




Doesn't seem like the tax cuts led to many benefits (for the lower class at least) So this could put us in the red...




I don't give a shit about the source for news information, only when it's all opinion.

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Offlineqman
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Re: Trump's "easy to win" trade war wipes out 2018 DOW gains [Re: musiclover420]
    #25279233 - 06/19/18 04:48 PM (5 years, 9 months ago)

Quote:

musiclover420 said:
Quote:

Stonehenge said:
Oh golly did the stock market dip a little bit? It has never done that before has it? lol Trump did the right thing hitting china and china will end up giving ground watch and see.




Yeah 150k lost jobs is just a "dip", want to tell all those out of work people yourself? "don't worry guys it's just a dip, trade wars are totally easy to win , MAGA!"





You do realize economic tariffs create dislocations that cost some US jobs, while creating more elsewhere? 

And that economic tariffs hurt companies that try to sell things into the US, which ultimately leads them to producing the goods here?  Let me guess, you really don't understand how this whole game works and just lick up BS from the corporate media.

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OnlineKryptos
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Re: Trump's "easy to win" trade war wipes out 2018 DOW gains [Re: qman]
    #25279245 - 06/19/18 04:54 PM (5 years, 9 months ago)

Quote:

qman said:
What's good for Main Street sometimes isn't good for Wall Street, why are you siding with the Fat Cats instead of Joe Six-Pack? 

I thought "liberals" wanted to stick it to Wall Street one day? Oh let me guess, it's not cool if Trump is doing it.  :rofl2:




When people complain about losing health insurance:
"Look at the booming economy! We've had the best bull run in decades! You'll make so much money you can buy gold plated healthcare!"
When people complain about the stock market taking a shit:
"Why are you looking at stock! This will be good for main Street! See all those new businesses popping up?"
When both happen simultaneously:
"Look at both simultanouesly! Wooo! MAGA!"

Seriously, though. For a long time, capitalist, conservative thinking was that if new businesses are always popping up, that's good. It's actually one of the points I agree with. But I see a 'good' economy, but no new businesses. I see a lot of consolidation and mergers...but that's about it. 5-12 years ago, we got shit like Uber, PayPal, YouTube, iPhones, all sorts of cool shit. Now, we just get more shit from Comcast and ATT and Walmart.

Alibaba is doing good, though. That was a pretty good investment for me. I'm pulling it due to the tariffs bullshit, though. If Trump goes balls to the wall, China is gonna reply in kind, because at this point it's about dignity. This means they'll likely pull the stops due to the deficit. I mean new regulations for us companies, selling us debt, rules against investing, possibly even a forced divestment at loss.

It's nice to have a history of human rights violations. You can fight dirty and the people won't get pissed.

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Offlinemusiclover420
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Re: Trump's "easy to win" trade war wipes out 2018 DOW gains [Re: qman] * 1
    #25279250 - 06/19/18 04:56 PM (5 years, 9 months ago)

Quote:

qman said:
Quote:

musiclover420 said:
Quote:

Stonehenge said:
Oh golly did the stock market dip a little bit? It has never done that before has it? lol Trump did the right thing hitting china and china will end up giving ground watch and see.




Yeah 150k lost jobs is just a "dip", want to tell all those out of work people yourself? "don't worry guys it's just a dip, trade wars are totally easy to win , MAGA!"





You do realize economic tariffs create dislocations that cost some US jobs, while creating more elsewhere? 





Alright please show us these new jobs then?... By elsewhere do you mean other countries? Because that is what happened, plants got shut down here and moved overseas thanks to the trade war.

Quote:

And that economic tariffs hurt companies that try to sell things into the US, which ultimately leads them to producing the goods here?




Alright then show us these companies that trump "lead to producing goods here" with his tariffs...

:waitingpatiently:

Quote:

Let me guess, you really don't understand how this whole game works and just lick up BS from the corporate media.




At least I am not blindly making assumptions that my dear leader will somehow pull through in the end, despite turning everything he touches into a bigger mess :shrug:


--------------------
Don't worry about me, I've got all that I need. And I'm singing my song to the sky

You know how it feels, With the breeze of the sun in your eyes. Not minding that time's passing by

I've got all and more, My smile, just as before. Is all that I carry with me

I talk to myself, I need nobody else. I'm lost and I'm mine, yes I'm free


Edited by musiclover420 (06/19/18 04:56 PM)

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OnlineKryptos
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Re: Trump's "easy to win" trade war wipes out 2018 DOW gains [Re: qman] * 2
    #25279253 - 06/19/18 04:57 PM (5 years, 9 months ago)

Quote:

qman said:
Quote:

musiclover420 said:
Quote:

Stonehenge said:
Oh golly did the stock market dip a little bit? It has never done that before has it? lol Trump did the right thing hitting china and china will end up giving ground watch and see.




Yeah 150k lost jobs is just a "dip", want to tell all those out of work people yourself? "don't worry guys it's just a dip, trade wars are totally easy to win , MAGA!"





You do realize economic tariffs create dislocations that cost some US jobs, while creating more elsewhere? 

And that economic tariffs hurt companies that try to sell things into the US, which ultimately leads them to producing the goods here?  Let me guess, you really don't understand how this whole game works and just lick up BS from the corporate media.




Gonna double post cause I'm on a phone. Are 12k steel jobs more important than 146k steel consuming jobs?

Same shit as coal. You're costing tens of millions to save thousands, who were left behind by the free market. Quit subsidizing, you commie. Let capitalism fluorish.

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OnlineThe Ecstatic
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Re: Trump's "easy to win" trade war wipes out 2018 DOW gains [Re: qman]
    #25279262 - 06/19/18 05:03 PM (5 years, 9 months ago)

Quote:

qman said:
Quote:

The Ecstatic said:
Quote:

qman said:
What's good for Main Street sometimes isn't good for Wall Street, why are you siding with the Fat Cats instead of Joe Six-Pack? 

I thought "liberals" wanted to stick it to Wall Street one day? Oh let me guess, it's not cool if Trump is doing it.  :rofl2:




Is higher priced goods helping main street?


Lol this is what i love about capitalists, they think big business will just throw up their hands and say "welp! guess we'll take that loss, you sure got us Donald," when in reality the costs will just be passed on to the consumer.




So you take issue with Bernie and his position on US trade agreements and the massive trade deficit?




Implying that launching a hostile trade war, even with allies, is the only course of action to fix our economy.


--------------------

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Offlinemusiclover420
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Re: Trump's "easy to win" trade war wipes out 2018 DOW gains [Re: Kryptos] * 1
    #25279272 - 06/19/18 05:07 PM (5 years, 9 months ago)

Quote:

Kryptos said:
Gonna double post cause I'm on a phone. Are 12k steel jobs more important than 146k steel consuming jobs?

Same shit as coal. You're costing tens of millions to save thousands, who were left behind by the free market. Quit subsidizing, you commie. Let capitalism fluorish.




Also it seems like republicans always want to bail out/subsidize industries they or their cronies are heavily invested in, like timber and coal.

Or betsy devos and private religious schools which she wants to funnel funds into from public schools...

God forbit we invest in something good like renewable energies, hell trump even raised solar taxes I believe in favor of "clean coal" which is one of the stupidest phrases of all time...


--------------------
Don't worry about me, I've got all that I need. And I'm singing my song to the sky

You know how it feels, With the breeze of the sun in your eyes. Not minding that time's passing by

I've got all and more, My smile, just as before. Is all that I carry with me

I talk to myself, I need nobody else. I'm lost and I'm mine, yes I'm free


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