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Trump cannot understand currency or tariffs
Comments
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My point exactly. If the tariffs were forcing people to pay at least 6% more for everything from China (your original example of "you are out a minimum of $6" on a $100 spent) than you would see it in the inflation numbers. And we haven't (with 2018 and 2019-to-date having lower inflation than 2016 and 2017), which means a combination of China currency devaluation, China factories lowering prices, shift of purchases to other sources, and ten other things has meant the consumer is not paying the tariff.ApostleofGrief said:
It doesn't look like it is materially different than the annualized goal of 2% inflation despite spikes and troughs . So what is your point?GDS said:
https://www.reuters.com/article/us-usa-economy-inflation/u-s-inflation-accelerates-fed-rate-cut-still-expected-idUSKCN1V3158HoustonHusky said:
They are called inflation numbers. No need to as HondoFS has already (unintentionally) pointed out the inflation numbers have actually fallen off since Trump started implementing tariffs.ApostleofGrief said:
then get the numbersHoustonHusky said:I like how AOG left of factory price drops China have had as well...AOG doing HondoFS economics now.
Its why we have inflation indexes...
U.S. consumer prices increased broadly in July
Excluding the volatile food and energy components, the CPI gained 0.3% after rising by the same margin in June. It was the first time since early 2001 that the so-called core CPI increased 0.3% for two consecutive months.
The three-month core inflation rate jumped 2.8%, the most in eight years, supporting the view that weak inflation readings earlier in the year were caused by transitory factors.
Goldman Sachs estimates that tariffs have boosted year-on-year core PCE inflation by 10-15 basis points so far and that the new duties will add another 20 basis points.
“There were some hints in the report that the May round of tariffs may have had some flow-through to today’s number,” said Michael Feroli, an economist at JPMorgan in New York. “Core goods prices were up a firm 0.25%, with large increases in import-dependent categories like information technology commodities and household furnishings and supplies.”
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TDS.
FULL-BLOWN.
AOG.
HAS. -
What did you "flunk" to wind up at CWU, AOG? Life?ApostleofGrief said:
He's a witty writer but has bought into believing nonsense like "China pays". His main counterargument is a fallacy of ridicule. Just laugh and mock, and the opponent is wrong. No wonder he flunked law school.GDS said:holy shit - Kudlow claiming the Chinese economy is not the "powerhouse it was 20 years ago" is just epicly stupid. If you believe that horseshit then you are dumber then I thought Race and I already thought you were pretty stupid.
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You're playing a shell game.HoustonHusky said:
My point exactly. If the tariffs were forcing people to pay at least 6% more for everything from China (your original example of "you are out a minimum of $6" on a $100 spent) than you would see it in the inflation numbers. And we haven't (with 2018 and 2019-to-date having lower inflation than 2016 and 2017), which means a combination of China currency devaluation, China factories lowering prices, shift of purchases to other sources, and ten other things has meant the consumer is not paying the tariff.ApostleofGrief said:
It doesn't look like it is materially different than the annualized goal of 2% inflation despite spikes and troughs . So what is your point?GDS said:
https://www.reuters.com/article/us-usa-economy-inflation/u-s-inflation-accelerates-fed-rate-cut-still-expected-idUSKCN1V3158HoustonHusky said:
They are called inflation numbers. No need to as HondoFS has already (unintentionally) pointed out the inflation numbers have actually fallen off since Trump started implementing tariffs.ApostleofGrief said:
then get the numbersHoustonHusky said:I like how AOG left of factory price drops China have had as well...AOG doing HondoFS economics now.
Its why we have inflation indexes...
U.S. consumer prices increased broadly in July
Excluding the volatile food and energy components, the CPI gained 0.3% after rising by the same margin in June. It was the first time since early 2001 that the so-called core CPI increased 0.3% for two consecutive months.
The three-month core inflation rate jumped 2.8%, the most in eight years, supporting the view that weak inflation readings earlier in the year were caused by transitory factors.
Goldman Sachs estimates that tariffs have boosted year-on-year core PCE inflation by 10-15 basis points so far and that the new duties will add another 20 basis points.
“There were some hints in the report that the May round of tariffs may have had some flow-through to today’s number,” said Michael Feroli, an economist at JPMorgan in New York. “Core goods prices were up a firm 0.25%, with large increases in import-dependent categories like information technology commodities and household furnishings and supplies.” -
Huh? You don't think the CPI jumping by .3% in two consecutive months for the first time in 18 years and the highest core inflation rate in 8 is significant???ApostleofGrief said:
It doesn't look like it is materially different than the annualized goal of 2% inflation despite spikes and troughs . So what is your point?GDS said:
https://www.reuters.com/article/us-usa-economy-inflation/u-s-inflation-accelerates-fed-rate-cut-still-expected-idUSKCN1V3158HoustonHusky said:
They are called inflation numbers. No need to as HondoFS has already (unintentionally) pointed out the inflation numbers have actually fallen off since Trump started implementing tariffs.ApostleofGrief said:
then get the numbersHoustonHusky said:I like how AOG left of factory price drops China have had as well...AOG doing HondoFS economics now.
Its why we have inflation indexes...
U.S. consumer prices increased broadly in July
Excluding the volatile food and energy components, the CPI gained 0.3% after rising by the same margin in June. It was the first time since early 2001 that the so-called core CPI increased 0.3% for two consecutive months.
The three-month core inflation rate jumped 2.8%, the most in eight years, supporting the view that weak inflation readings earlier in the year were caused by transitory factors.
Goldman Sachs estimates that tariffs have boosted year-on-year core PCE inflation by 10-15 basis points so far and that the new duties will add another 20 basis points.
“There were some hints in the report that the May round of tariffs may have had some flow-through to today’s number,” said Michael Feroli, an economist at JPMorgan in New York. “Core goods prices were up a firm 0.25%, with large increases in import-dependent categories like information technology commodities and household furnishings and supplies.” -
highest core inflation rate in 8 months.GDS said:
Huh? You don't think the CPI jumping by .3% in two consecutive months for the first time in 18 years and the highest core inflation rate in 8 is significant???ApostleofGrief said:
It doesn't look like it is materially different than the annualized goal of 2% inflation despite spikes and troughs . So what is your point?GDS said:
https://www.reuters.com/article/us-usa-economy-inflation/u-s-inflation-accelerates-fed-rate-cut-still-expected-idUSKCN1V3158HoustonHusky said:
They are called inflation numbers. No need to as HondoFS has already (unintentionally) pointed out the inflation numbers have actually fallen off since Trump started implementing tariffs.ApostleofGrief said:
then get the numbersHoustonHusky said:I like how AOG left of factory price drops China have had as well...AOG doing HondoFS economics now.
Its why we have inflation indexes...
U.S. consumer prices increased broadly in July
Excluding the volatile food and energy components, the CPI gained 0.3% after rising by the same margin in June. It was the first time since early 2001 that the so-called core CPI increased 0.3% for two consecutive months.
The three-month core inflation rate jumped 2.8%, the most in eight years, supporting the view that weak inflation readings earlier in the year were caused by transitory factors.
Goldman Sachs estimates that tariffs have boosted year-on-year core PCE inflation by 10-15 basis points so far and that the new duties will add another 20 basis points.
“There were some hints in the report that the May round of tariffs may have had some flow-through to today’s number,” said Michael Feroli, an economist at JPMorgan in New York. “Core goods prices were up a firm 0.25%, with large increases in import-dependent categories like information technology commodities and household furnishings and supplies.”
Love how you left off that nice little unit of time measurement. As AOG said...ApostleofGrief said:
It doesn't look like it is materially different than the annualized goal of 2% inflation despite spikes and troughs . So what is your point?GDS said:
https://www.reuters.com/article/us-usa-economy-inflation/u-s-inflation-accelerates-fed-rate-cut-still-expected-idUSKCN1V3158HoustonHusky said:
They are called inflation numbers. No need to as HondoFS has already (unintentionally) pointed out the inflation numbers have actually fallen off since Trump started implementing tariffs.ApostleofGrief said:
then get the numbersHoustonHusky said:I like how AOG left of factory price drops China have had as well...AOG doing HondoFS economics now.
Its why we have inflation indexes...
U.S. consumer prices increased broadly in July
Excluding the volatile food and energy components, the CPI gained 0.3% after rising by the same margin in June. It was the first time since early 2001 that the so-called core CPI increased 0.3% for two consecutive months.
The three-month core inflation rate jumped 2.8%, the most in eight years, supporting the view that weak inflation readings earlier in the year were caused by transitory factors.
Goldman Sachs estimates that tariffs have boosted year-on-year core PCE inflation by 10-15 basis points so far and that the new duties will add another 20 basis points.
“There were some hints in the report that the May round of tariffs may have had some flow-through to today’s number,” said Michael Feroli, an economist at JPMorgan in New York. “Core goods prices were up a firm 0.25%, with large increases in import-dependent categories like information technology commodities and household furnishings and supplies.” -
Economics is a chaotic system. There are too many variables, including sentiment/psychology, to ever come up with completely clear cause and effect. One thing is certain, though, if the change is massive, such as the introduction of ruinous tariffs, there WILL BE huge effects. What Trump has done is reduce business sentiment in investing on top of inflicting a massive tax on Americans. A mild change in inflation is not going to compensate.
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You mean you can't just type an simple example of 'if I'm going to spend a $100 and China devalues its currency 3% but Trump institutes a tariff of $9.7 to $23' to prove Orange Man Bad?ApostleofGrief said:Economics is a chaotic system. There are too many variables, including sentiment/psychology, to ever come up with completely clear cause and effect. One thing is certain, though, if the change is massive, such as the introduction of ruinous tariffs, there WILL BE huge effects. What Trump has done is reduce business sentiment in investing on top of inflicting a massive tax on Americans. A mild change in inflation is not going to compensate.
Why again did this thread start?
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Since I found myself with no real occupation at age 52, I decided to trade ag commodities in the Pacific Rim. (It's a family thing)
As a result I have conversations with folks that have up close and personal contacts with the ChiComs on a regular basis.
Every one of my trading partners will tell you that the Chinese economy is hurt and hurt bad. Most feel the ChiComs are looking for a way out of this trade war while saving face, a HUGE thing in the Chinese culture.
Trump and the United States are winning.
Just think, the Libs are hoping for a Trump, and therefore a United States, failure. -
AOG still hasn't come clean about his pro chicom policies. Trump says stupid shit and he wasn’t my choice for the Republican nominee and I wrote in Cruz on my presidential ballot. I’m voting form him in 2020 because of his actual policies and not the stupid shit that he says. Each dem candidate says stupid shit all the time as did the last dem president. But combining stupid sayings with even dumber policies is much different than Trump. Barry said we could keep our plans and doctors and save $2500. All lies combined with stupid shit policies. Barry said we couldn’t drill our way to lower energy prices. That was a stupid sh*t statement and thankfully capitalism showed that you can. Dems still oppose fracking and exporting LNG. A typical leftard loves to focus on the stupid sayings and then ignore policy or actually promote anti-American policies. Leftards lie and love to be lied to.
