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More Tariff fallout

Discussion in 'Too Hot for Swamp Gas' started by channingcrowderhungry, Jul 2, 2018.

  1. 96Gatorcise

    96Gatorcise GC Hall of Fame

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  2. flgator2

    flgator2 GC Hall of Fame

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    What about record unemployment, a lot less on food stamps , cutting of all the stupid regulations, etc.
     
  3. grumpygator77

    grumpygator77 GC Hall of Fame

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    Unemployment is not at record lows. It has been under 5% for over two years now.

    Less folks on food stamps is great for those who aren't. It's the old "everyone on food stamps are just lazy" attitude. Can't say that taking food away from folks who need it is an "accomplishment"-- or very "christian" which is a large, very large faction of the Trump supporters.

    "... stupid regulations" is what keeps you and me in clean air to breath, clean water to drink, and safe food to eat, among other things. Ask those in Flint Michigan about the need for stupid regulations.
    Maybe you could cite which specific regulations Trump cut instead of the talking points given by the Fox network. And which ones you think are just "stupid".
     
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  4. VAg8r1

    VAg8r1 GC Hall of Fame

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    If Trump doesn't back off on the tariffs, the most recent labor market reports (today's and last month's) could be the best of the Trump administration. While the bottom probably will not fall out we could be seeing a long slow decline marked by higher inflation, interest rates and lower growth. Although Trump may have borrowed the MAGA slogan from Reagan he could end up giving us the economy of Jimmy Carter.
     
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  5. gator_fever

    gator_fever GC Hall of Fame

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    Good for Trump as we have way more leverage than China does here. Lol at China hollering to other countries thinking that will affect Trump. We will have better trade practices going on soon due to Trump's moves. Hell Germany is already talking concessions to the U.S.
     
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  6. VAg8r1

    VAg8r1 GC Hall of Fame

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    The Chinese government doesn't have to answer to voters and they're also not stupid. They can wait out the effect of a trade war longer than the US. Their retaliatory tariffs will hit hardest in states and congressional districts that have been most loyal to Trump and the Republican Party. You probably do not remember what happened when we tried to impose restrictions on cross border crossings by Mexican trucks back in 2009, ironically originated by the Obama administration and congressional Democrats. Mexico responded by selectively raising tariffs and the US ended up backing off. Although it's received relatively little publicity, Trump is also considering reimposing restrictions on Mexican trucking as part of his repudiation of NAFTA.
    Elimination of U.S. Pilot Truck Program Triggers Mexican Tariffs
    Quantifying the Effects of Mexico's Retaliatory Tariffs on Selected U.S. Agricultural Exports | Applied Economic Perspectives and Policy | Oxford Academic
     
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  7. gator_fever

    gator_fever GC Hall of Fame

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    A year from now we will have much better trade policies than now. The only ones benefiting from that crap here was the real big multi nationals who pay off these politicians but they don't control Trump. The chamber of commerce group is nothing but their puppets also.
     
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  8. VAg8r1

    VAg8r1 GC Hall of Fame

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    Tell that to the workers at this plant. Ironically, some of the workers who may lose their jobs are still Trump supporters. That's going to change very quickly if they actually lose their jobs. Also keep in mind that if the plant is forced to close or even just reduce its workforce the ill effects will not be limited just to those directly effected but most businesses in the town.
    Largest U.S. Nail Manufacturer Could Soon Be Out Of Business Because Of Trump Tariffs | HuffPost

    You can also tell your story to the soybean farmers who may lose their largest market thanks to the Donald. They will still have to repay their loans even if they suffer a significant loss of income. Unlike Trump himself they do not have the luxury of declaring bankruptcy without suffering any ill effects.

    Interestingly, a commentator suggested that we would be in much stronger position with respect to the Chinese if we teamed with the EU, Japan, Mexico and Canada. Rather than trying to establish a united front Trump in his infinite genius has also declared economic war against those countries.
     
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  9. MaceoP

    MaceoP GC Hall of Fame

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    There are many pundits giving financial advise on cable these days. I have the utmost respect for Mohamad El-Erian as I think he is spot on most of the time.

    Regarding the Tariffs. He said this is not a trade war, its trade tensions. His take was this could turn into a trade war, or it could turn into a global realignment of the global trading systems (which could be good for the U.S if settled). The uncertainty is very real and no one knows how this will turn out. So far all those predicting gloom and doom, if you go short you could lose a fortune.
     
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  10. duchen

    duchen VIP Member

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    He has accomplished making his base happy at the expense of the country. Perfect timing because most of the major impacts from his narcissistic trade war will be felt after the midterms. Of course, he can only do this without Congressional approval in many instances by invoking national security.
     
  11. Gatorrick22

    Gatorrick22 VIP Member

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    What about the Chinese military build up and how the theft of our intellectual property by the Chinese plays into their hands? Do American multinational industries have the right to carry on without any regulations?
     
  12. duchen

    duchen VIP Member

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    He has not accomplished anything but destruction. The economy did not suddenly improve because he took office. That part that is affected by government policy was caused by Obama. That is true for 18 months to 2 years. In time, we wil see the effects of his policies: taxes; higher debt; tariffs. He also split the country even more the way he has handled the Russia investigation. Thank you for not trying to sell us a load of bunk anout his so called accomplishments. Unless repeatedly lying his an accomplishment, the price will soon be paid if we don’t change course.
     
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  13. duchen

    duchen VIP Member

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    The trend started under Obama. Straight line. The economy does not suddenly change when he took office. The budget and tax policy Trump’s first year were Obama’s, too. Your comment shows no understanding of the effect of government policy in the economy. We will start to see the effects of this tear’s budget and tax policy next year and the tariffs as well
     
    Last edited: Jul 6, 2018
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  14. flgator2

    flgator2 GC Hall of Fame

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    It's nice of you to say I have no understanding when it was very clear after Trump won in November the economy started to change. Business gave back to the employees, even the economists acknowledged the economy started to change because of Trump's win. All of this was already discussed back then. Obama doesn't get credit for what Trump has done, nice try.
     
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  15. mdgator05

    mdgator05 Premium Member

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    Which metric in particular accelerated? I'll start off with the unemployment rate. Negative on here is a good number (as it shows a greater decline in unemployment). Show me the acceleration that started "because of Trump's win."

    [​IMG]
     
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  16. flgator2

    flgator2 GC Hall of Fame

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    I wouldn't surprise if 50% of those on food stamps are lazy and refuse to work. I do believe we make too easy for them. With the increase I in jobs being created more are entering the work force.
    Tracking Regulatory Modernization in the Trump Administration - AAF
    The chart below tracks the progress of regulatory modernization during the Trump Administration. Every CRA measure signed into law and all rulemakings that reduce paperwork hours or costs will be available below (and updated weekly). This reflects data from 2017 onward and all figures are from benefit-costs analyses provided by federal agencies, available at RegRodeo.com. To date, Congress and the administration have repealed regulations with an estimated $4.1 billion in total net present value costs and 44.7 million hours of paperwork. The paperwork figures are annual and the net present value figure represents the total cost during the life of the rule, according to the regulation’s regulatory impact analysis. Some rules estimate a rulemaking horizon over 30 years, but for others, only the initial first-year cost is provided. For rulemaking actions that only partially repeal past regulations, AAF uses the deregulatory rulemaking’s estimates (rather than the original regulation’s estimates). The annual cost savings from CRA resolutions is $1.1 billion. The potential annual cost savings for all rulemakings below equals $21.8 billion. Combined with further executive actions and formal delays, the amount of affected regulation could rise to $71.6 billion (net present value) and more than 64 million hours of paperwork.
    U.S. adds 223,000 new jobs as unemployment falls to 18-year low in May
    [​IMG]
     
  17. fastsix

    fastsix Premium Member

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    More tariff fallout. Have to agree with them too. If the government of Canada did something to America that I thought was unfair, I'd choose not to visit their country on vacation just like they're doing to us.

    Majority of Canadians may avoid U.S. travel in response to trade war: survey

    Summer vacations are underway for many Canadians, and a new survey suggests the majority may avoid traveling to the United States. But on the prairies the numbers indicate travel remains strong between the two countries amid trade disputes.

    The survey shows 74 per cent of Canadians are likely to stop traveling to the U.S. in response to a trade war.

    “When we look at Canadian travel, you know, the impact of Canadians on the economy in states, critical states like Florida for example, is significant,” Nik Nanos, chair of Nanos Research, told CTV News Channel. “There are lots of not just hotel chains, but mom and pop organizations that rely on the goodwill and generosity of Canadians in order to kind of be successful in the United States.”
     
  18. flgator2

    flgator2 GC Hall of Fame

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    Yea right. I'll believe it when it happens
     
  19. citygator

    citygator Premium Member

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    SURPRISE!!!!
    “Nearly half (44 percent) of SNAP recipients are children; another 21 percent are adults who live with those children.” Apr 26, 2017
    SNAP Helps Millions of Children

    Damn lazy kids. Maybe if they were working in sweatshops Trump could make his ties here.
     
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  20. gatorknights

    gatorknights GC Hall of Fame

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    Those kids are nothing but freaking takers, refusing to work but rather suck off the government's teat while sitting on the couch all day playing video games. We should do the right thing and let 'em starve. Right? :cool: