Tariffs Catch-All
- Thread starter BubbaOtis
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Smoke and mirrors. Who I really feel sorry for? That dumbass UAW worker that pitched Trump and his handling tariffs because "Detroit has been decimated by auto plant closings."
That guy will be fine, he looks close to retirement and probably has a great pension. But he doesn't have a clue. If he thinks auto plants are our future, he is as dumb as the average MAGAt. Those jobs are going away. Robotics and tech will replace most line workers. Better tell your offspring and grandkids to get a tech degree or trade skill. Auto line jobs are dying, everywhere.
That guy will be fine, he looks close to retirement and probably has a great pension. But he doesn't have a clue. If he thinks auto plants are our future, he is as dumb as the average MAGAt. Those jobs are going away. Robotics and tech will replace most line workers. Better tell your offspring and grandkids to get a tech degree or trade skill. Auto line jobs are dying, everywhere.
superrific
Master of the ZZLverse
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Yep. My boy is studying robotics and quantum physics. He's taking a quantum computing class next year. But my boy has the advantage of being exceptionally smart. It's going to be rougher for those in the middle of the IQ distribution. Who deserve every bit as much of a decent life as those further to the right on the distribution.
Watch the currency markets. They might have a clue about what will happen. AND -- let's assume the dollar rises by 5% against rest of world. So that makes US assets 5% more valuable on a relative basis. That could help the stock market. Until the retaliatory tariffs kick in.
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I'd just like to take a moment to put into perspective how the U.S. stock markets are basically discounting any real impact of these tariffs.
1) First, a 10%+ correction is nothing more than an average year in the market we average a correction once per year. Even in years when the S&P ended up positive for the year or had a great year, we usually had an 8-10+% pullback or correction at some point.
2) I am going by memory, but I believe it was Q4 2018. The U.S. stock market was down about 15% in the final quarter alone. Why? Because the World Bank reduced 2019 expected world exenomic growth from 3% to 2%. The U.S. market panicked because the Fed was in the process of raising rates after keeping them at 0% for nearly a decade. The Fed said it still saw a strong economy so planned to stay on course *raising rates." Market was spooked and dropped 15%.
The first Fed meeting in Jan. of following year, the Fed made one simple change to it's notes. "We will continue to follow the economy in real time and adjust accordingly." Voila, market back up 15% just like that.
Fast forward to today. The market is only down about 5% YTD. It is basically shrugging this off. It is completely irrational right now.
1) First, a 10%+ correction is nothing more than an average year in the market we average a correction once per year. Even in years when the S&P ended up positive for the year or had a great year, we usually had an 8-10+% pullback or correction at some point.
2) I am going by memory, but I believe it was Q4 2018. The U.S. stock market was down about 15% in the final quarter alone. Why? Because the World Bank reduced 2019 expected world exenomic growth from 3% to 2%. The U.S. market panicked because the Fed was in the process of raising rates after keeping them at 0% for nearly a decade. The Fed said it still saw a strong economy so planned to stay on course *raising rates." Market was spooked and dropped 15%.
The first Fed meeting in Jan. of following year, the Fed made one simple change to it's notes. "We will continue to follow the economy in real time and adjust accordingly." Voila, market back up 15% just like that.
Fast forward to today. The market is only down about 5% YTD. It is basically shrugging this off. It is completely irrational right now.
ChileG
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“We’re going to make so much money.”
I can’t believe people fell for this fraud once, let alone twice.
Jay in Kiev is doing some interesting math. Don’t think it checks out. It would take about a 10% drop in the S&P 500 to equal $4 trillion.
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China has taken steps to restrict local companies from investing in the US, according to people familiar with the matter, in a move that could give Beijing more leverage for potential trade negotiations with the Trump administration.
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Trump's tariffs list is missing one big country: Russia
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www.axios.com
“… Press Secretary Karoline Leavitt told Axios Wednesday that Russia was left off because U.S. sanctions already "preclude any meaningful trade."
However, the U.S. still trades more with Russia than with countries like Mauritius or Brunei that did make Trump's tariffs list.
- Even remote island territories like Tokelau (pop. 1,500) in the South Pacific and Svalbard (pop. 2,500) in the Arctic Circle — territories of New Zealand and Norway, respectively —were listed for tariffs.
- However, Leavitt noted that Cuba, Belarus and North Korea were also not included because existing tariffs and sanctions on them are already so high.
…”
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Yea, I really felt wealthy when I looked at my retirement savings today...
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Trump's tariffs list is missing one big country: Russia
Loading…
www.axios.com
“… Press Secretary Karoline Leavitt told Axios Wednesday that Russia was left off because U.S. sanctions already "preclude any meaningful trade."
However, the U.S. still trades more with Russia than with countries like Mauritius or Brunei that did make Trump's tariffs list.
- Even remote island territories like Tokelau (pop. 1,500) in the South Pacific and Svalbard (pop. 2,500) in the Arctic Circle — territories of New Zealand and Norway, respectively —were listed for tariffs.
- However, Leavitt noted that Cuba, Belarus and North Korea were also not included because existing tariffs and sanctions on them are already so high.
…”
Damn, Putin must have multiple sex tapes.
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It will take inflation, because most of his cult doesn't invest in the markets.
As much as I hate to see anyone suffer, I don't feel sorry for the cult members that voted for him that are going to now have to get a 4th job.
C-Money
Inconceivable Member
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Probably has proof of Trump involved with sex trafficking with Epstein.
1moretimeagain
Inconceivable Member
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I’m quite surprised Trump opted to go this heavy. He blew an absolute layup.
Announce tariffs that aren’t as bad as worst case scenario and you get the win-win. Trump would get his beloved tariffs and the market would soar because they have some certainty and it’s not as bad as feared.
Announce tariffs that aren’t as bad as worst case scenario and you get the win-win. Trump would get his beloved tariffs and the market would soar because they have some certainty and it’s not as bad as feared.
Mulberry Heel
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I have no evidence of course, but if Trump & Company were deliberately trying to destroy the USA and its influence in the world for the benefit of Russia they couldn't be doing a better job of it. I mean, Putin has got to be loving every moment of this.
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Sorry if this has been covered
The senate voted today to say we are not in a financial crisis-thus orangeturd does not have authority to put up tariffs. If it goes to the House it WILL pass also. So speaker Johnson made up a new rule. All house proceedings this year wil be considered one day-from here on
Because if a motion is brought up -say the Senate Tariff bill-the Speaker does not have to allow a vote on it-but after X days it gets voted on
So for the rest of the session there will not be X days-just a continuation of today. So there will be no vote.
For the first time I now hope the Stock Market crashes over the tariffs-and we can all point a finger at Johnson. Hopefully before it is too prolonged
The senate voted today to say we are not in a financial crisis-thus orangeturd does not have authority to put up tariffs. If it goes to the House it WILL pass also. So speaker Johnson made up a new rule. All house proceedings this year wil be considered one day-from here on
Because if a motion is brought up -say the Senate Tariff bill-the Speaker does not have to allow a vote on it-but after X days it gets voted on
So for the rest of the session there will not be X days-just a continuation of today. So there will be no vote.
For the first time I now hope the Stock Market crashes over the tariffs-and we can all point a finger at Johnson. Hopefully before it is too prolonged