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Trade 101
Comments
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He was correct in the aggregate and was also correct that no one really knows.
America used to run on tariffs and we exported more than any nation along with being the largest creditor nation. They we went to basic income tax, dropped the tariffs, started importing at a high rate, and now we are the largest debtor nation. To have both tariffs and basic income tax screams that we are taking on way too much debt and can't realistically afford the debt service.
I don't see how this trade war works out in a positive way for the US or China. -
I tried...I just listened to a few minutes of it while taking a dump. It was kinda funny (lapping up the idiocy of the media), but INCREDIBLY ignorant of both basic economics and trade.
Couple quick examples from the few minutes I saw:
- you realize there are inflation indexes that monitor how much people pay for everyday items, right? If those indexes are going up you can talk about tariffs negatively impacting people, but finding some idiot from MSNBC bitching about the price of forks from China going up as meaningfully impacting the US economy or population is HondoFS.
- Oliver says US manufacturing has grown 2x since 1984. Sounds like a lot, but that lags the overall US GDP significantly and is completely disingenuous a statistic since US Manufacturing output has been literally flat to declining for the last 10+ years (it went up significantly in the 80s and 90s) which is the real problem everyone has been worried about.
- Automation can explain the lower manufacturing jobs, but it does not in any way shape or form explain the flat to declining overall manufacturing. That is a transfer of wealth from the US to China and others that everyone should be worried about.
- Its great to say "trade between countries generally speaking can create jobs, lower costs, and be a net benefit to both countries". Sounds great, but there is a HUGE unsaid assumption in that the 2 countries are playing by the same trade rules. In reality they aren't in any way, shape, or form which is the source of the current trade issues.
That was about as much stupid as I could handle...TLDL to the rest.
I will say it is funny how somebody with a British accent can same something literally HondoFS when it comes to anything, and just because they say it with a British accents some morons out there automatically assume it has some brilliant insight into how things work... -
When China allows foreign entities, including the USA to play in their financial markets, as strongly hinted upon by their fearless leader a few months ago, then the tariffs end.
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Its more than just financial markets...it is Patent/IP protection and prosecution, the ability for foreign companies to invest in China (without having to JV with a Chinese company and basically give all the profits to them) the same way Chinese companies are allowed to in the rest of the world, the subsidizing of Chinese companies with govt funds (steel a prime example...), and a few other things.salemcoog said:When China allows foreign entities, including the USA to play in their financial markets, as strongly hinted upon by their fearless leader a few months ago, then the tariffs end.
I doubt even Trump has the stomach to fight the Chinese on all of that, but until it happens or changes there is always going to be a structural imbalance. -
Trump is a complete dumbfuck on trade.
The fact you use a comedian to tell you what to think is embarrassing.
Enough said on that. -
So you agree with the comedian. Got it.MikeDamone said:Trump is a complete dumbfuck on trade.
The fact you use a comedian to tell you what to think is embarrassing.
Enough said on that. -
FTFYMikeDamone said:Trump is a complete dumbfuck
on trade.
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Oh look, another Hollywood celebrity is wrong about something. That almost never happens...
https://www.nytimes.com/2018/08/27/us/politics/us-mexico-nafta-deal.html?action=click&module=Top Stories&pgtype=Homepage -
Can't wait for my next car to be more expensive!USMChawk said:Oh look, another Hollywood celebrity is wrong about something. That almost never happens...
https://www.nytimes.com/2018/08/27/us/politics/us-mexico-nafta-deal.html?action=click&module=Top Stories&pgtype=Homepage -
Support your local union. Isn’t that a battle cry of the left?BennyBeaver said:
Can't wait for my next car to be more expensive!USMChawk said:Oh look, another Hollywood celebrity is wrong about something. That almost never happens...
https://www.nytimes.com/2018/08/27/us/politics/us-mexico-nafta-deal.html?action=click&module=Top Stories&pgtype=Homepage
