Its fucking happening, Trump said he had decided to impose punishing tariffs on imported steel and aluminum from the EU. Its 25% for steel and 15% for aluminum. EU will react by imposing punishing tariffs for Harley Davidson and Jack Daniels who are one of the biggest employer in republican states. Are you ready for the trade war EU brothers?
Not that this is a problem on its face, but he’s too fire and fury about. Always like a bull in a china shop approach. Not just the stock market reacting negatively.
U.S. Economic Outlook =STRONG
Consumer Sentiment =VERY HIGH
Labor Market =STRONG
Energy Cost Impact = POSITIVE
Credit availability = STRONG
Disposable personal income/wages = POSITIVE
I bet the abrupt announcement of these tariffs was great news to the handful of short-selling hedge funds who knew it was coming.
I found it very interesting that 26.1% of our steel comes from Canada and Mexico, only 2.9% from China.
We’re isolating ourselves from our friends.
Trumpian Distraction from the NRA noise.
Trump did something I agree with. They are killing steel jobs in my area. Their steel is inferior anyway.
Making America Great Again is simply not going to happen.
All the economic numbers, Trumps budget deficit increases, a GDP of 2.5% (instead of the minimum of 4% that it has to be to MAGA) along with the rise in interests rates that will occur this year make such an endeavor impossible. This will be proven to be the case when the economy slips into recession. Then there are millions of jobs to be lost to automation, robots and self-driving vehicles.
There is no money in steel, just like there is no money in coal. (There is money in tech.) It isn’t just China that is producing low-cost steel, but also India.
Steel and coal industries are not going to be made great again in America that is for sure. The money that business and corporations are not going to be used to open plants and hire workers at great wages. They are merely using that money to do stock buy-backs and pay their preferred shareholders dividends.
Imagine going down to the auto dealer and looking at the nice, shiny and new F-150 pickup truck made in America by high-wage steel workers and high-wage auto assembly workers and right next to it a nice, shiny and new Toyota pickup truck with a better upgrade package for half the price.
Which one do you think the struggling working American will purchase?
Are we sure that the ‘rising interest rates’ aren’t the catalyst for the diminishing returns? Are we even sure that they weren’t delayed deliberately until after the election?
Their are, in my mind two ways to look at MAGA. One of course is the path we have had lead down by the U.S.A. Inc. model. One that seems to require an ever greater GDP to harvest ever greater tax revenues to ‘make everybody happy’ (and much less capable) and a Utopian globalist community where every part of the world and every society can count on every other part of the world trading blissfully their talents to those of other countries. Each always getting what it needs and never fearing reprisal or hording or even a power play by one group over another.
The other way to see MAGA is where a country finds self sufficiency… where people know once again the honor of a learned skill for a reasonable wage and of course industry that can provide for the safety and security of its people. The later may not look as affluent as the former but I bet it is a hell of a lot more gratifying and secure… Tariff has been used for eons to protect domestic industry.(protectionism by a nation while not ‘pure capitallism’ protects the general welfare of the people it governs) When everything boils down to money in a culture, values tend to get out of balance… The alternate way to see MAGA is to say that their many not be great money in steel but steel will get you through times of no money much more than money will get you though times of no steel…
Of course to look at MAGA that way, you must also look at your entire culture that way… I wounder if we can finally kick the central bank out of the US… if nothing else, asset prices will collapse and people would find buying a home much more affordable…
Yep, the trade war is coming.
What do we need that we can’t produce domestically at a reasonable price and with superior quality?
But trade is a good thing though. Are you advocating isolationism?
You’re missing the point.
Ok? Give it a go…
Not isolationism… we can trade on a level field between governments and we can also be self sufficient. This idea that the world is going to suddenly become one big happy homogeneous family is pie in the sky… someone always wants to play king of the hill.
If you can’t read what I posted and have intelligent debate about it then don’t bother posting. You said a trade war is incoming. My counter point was that we don’t need to import the majority of crap that we do since we can produce better quality products for comprable or reasonable prices. Trade deals that undercut us help other countries and do not help the US. We have an abundance of resouces as well as production and manufacturing capabilities. We can be an exporter and limit imports very easily.
And how do you think they knew?
But that’s all counter to globalization which is what big business and their lobby’s want and what congress panders too, shrug.
That’s why a large portion of us want to put America first…which you seem to puke all over every chance you get.
Lol. How many times have you seen me post that the two party system is killing America while Americans continue election after election to line up and pull the lever for one or the other. They get fed up with republicans so they send democrats to Washington only to get fed up with democrats and they send republicans back to Washington. Both of them exploding our national debt, both of them engaging in one gratuitous war after another, both of them pandering to big business and their agenda, both of them wasting money while the ASCE gives D report cards on our infrastructure cycle after cycle, shrug.