Trillions of dollars are wiped off the balance sheet. Eggs cost 8 dollars a dozen. My silver coins lost $2 an oz today. What is really happening? Is this the sign of an impending collapse? A repeat of the 1929 Wall Street crash? Or is this all leading to war involving nuclear weapons?
https://www.youtube.com/watch?v=WUP0J-qg_i0
No, take the tin foil hat off and move on.
Jobs are up:
Jobs report: US economy added positions in March as payrolls grew at faster pace | Fox Business
EVERY week there are news reports of trillions of dollars being invested into the US, to avoid the tariffs, like this:
UAE agrees to 10-year, $1.4T investment framework, White House announces | Fox News
Egg prices:Quote:
Originally Posted by BushMasterBoy
https://tradingeconomics.com/commodity/eggs-us
They are still $8 at the local grocers. My neighbor has his own chickens. He is probably smarter than me. The stocks are dropping because overseas investors are bailing.Quote:
Originally Posted by def90
I suspect these tariffs are intended to shake-up long existing trade "relationships" so that they can reset to a position more favorable to the US. For too long, nearly all concessions for trade have been negatively impacting domestic production. What really has not been discussed in the media were already existing tariffs on US goods in foreign countries that were somehow "appropriate" and "equitable". Once the US does something similar, however, it's "trying to crash the world economy". This Wall Street freakout was predictable. My supervisor and I parked our 401K funds into bonds and cash reserves in early March. We should have done it a week or two sooner, but we have been able to grow value while everything else is dropping. We will move back into the market when things settle down. The 401K is the conservative part of our investment portfolio, so we need to be cautious with extensive value loss.
Trump being Trump and using money as leverage for whatever deals he has in mind for various countries.
What he is citing as reciprocal tariffs are new taxes based on trade imbalance rather than the actual tariffs imposed on US goods by other countries.
How his advisors allow him to get away with calling apples oranges is beyond me but there is either a reason for it or they are all dumbasses too.
The US is the wealthiest country on the planet, and the 3rd most populous. There will always be trade deficits. Trying to tax your way out of them accomplishes little good and a lot of bad.
Quote:
Originally Posted by eddiememphis
There were actual foreign tarrifs on US goods, not just imbalances. I will agree that they were not as extensive as the "chart" indicated. However, the positioning of the US as solely a purchaser of manufactured consumer goods versus a manufacturer of consumer goods needs to change, even if it means higher costs for US made products over Chinesium crap.
Maybe I am just a simpleton, but I fully concur with Rubio's statements...
https://www.foxnews.com/politics/rub...ly-right-do-it
That is some communist globalist indoctrination you are regurgitating there. By your thinking, anyone who is good at what they do should be expected to just hand over a portion of their success because it is obligatory? Unfortunately, the US population has been fed that same line of bull for so many decades, a large number of people actually believe we need to whip ourselves for just being good at what we do. After decades of letting other countries have a better deal on us, it still hasnt improved thier situation. How long are we required to keep doing that?Quote:
Originally Posted by eddiememphis
The reason we have continued to do somewhat well despite all these countries applying tarriffs on our goods is the US will learn/shift/innovate around a roadblock. That is NOT the same around the globe, even if you think everyone else is as good as the US on this stuff. We have donated military support, paid global trade welfare and taken a huge degree of critical disdain for doing so. I am in favor of levelling that field of play.
Trump has used tarriffs as bargaining chips for as long as he has been in a position to do so. Most get cancelled at some point when the other side capitualates to whatever he was requesting. Yet, all the "OMG TARRIFFS BAD!" analysis focuses on long term effects. Yeah sure, a few might last, but history says much of his tarriffs will be cancelled or reduced. Anything critical for us to import, is just a critical to the country we are importing from. Canada cries like babies, but they know they need to ship to us, and will have to come around to negotiating something more fair.Quote:
Originally Posted by .455_Hunter
Beyond the immediate hair on fire stuff, COVID showed clearly that relying on other countries for 100% of manufacturing of ANY critical item is a whopping bad idea. We had best encourage ways to get at least some level of domestic manufacture of critical supplies. The outcome of continuing to do the system of the last many decades leaves us at a risk of falling off a cliff into a seriously bad place.
You sure read a lot into one sentence that wasn't there.Quote:
Originally Posted by clodhopper
People buy foreign goods because they choose to, not because they’re forced to. That’s capitalism.
Tariffs, on the other hand, are closer to socialism. They interfere with the market by artificially raising prices on imports and narrowing consumer choice. That’s price control.
If we're serious about capitalism, we should focus on being competitive—not punishing consumers for making free choices.