"Trade Wars Are Good and Easy to Win" or "I Am a Clueless, Narcissist Demagogue"

Discussion in 'Politics' started by Recusant, Jan 2, 2020.

  1. Recusant

    Recusant Member

    The very stable genius who believes he knows more about any topic you can mention than the people who've spent their lives understanding it, and how reality conflicts with his delusional world view: Episode 212

    "Trump's tariffs are driving job losses and production cost hikes, the Fed says" | Business Insider

  2. Mopar Dude

    Mopar Dude Well-Known Member

    Sadly, I have attempted to read the remainder of this report but each time I click the link my computer freezes. I readily admit it is likely operator error on my part.

    I will admit. The presidents tariffs did negatively impact my business. Two years ago we experienced an immediate rise in steel costs due to a steel tariff placed on the Chinese. It caused us to go in the red on several projects.

    However, there is a bigger picture here. The reality is we have a foreign world power that is not necessarily an ally. This world power has been flooding our nation with substandard products for years while using what amounts to slave labor to produce them all the while fattening their coffers. I had hoped that in reading the entire article that another solution would be proposed. Usually that is not the case as over and over these editors simply blather on about how horrible Trump policy is while neglecting to offer an alternate solution.....

    So what would you do when the neighborhood bully continues to grow bigger and stronger at your potential peril? Continue to sit on your duff and watch as the inevitable looms on the horizon? Hugs and singing kum-bye-ya doesn't work with bullies. And if you don't believe they are bullies, simply ask those Chinese nationals that attempted to demonstrate to their own leaders.
  3. SmalltownMN

    SmalltownMN Active Member

    Much like your company, Randy, the one I work at was in the same boat. We took it in the shorts on a couple of projects but, in the grand scheme of things, it was but a blip on the radar. We adjusted accordingly and have been going strong ever since.
    Mopar Dude likes this.
  4. JoeNation

    JoeNation Patron Saint of Idiots

    My inclination is that some if not many of those business entities that were able to adjust to some degree to the negative impacts of Trump's senseless trade war are the same entities that will be the first to fold in any economic downturn due to a weakened long-term position as a result of these imposed adjustments. I'm no economist but it isn't hard to guess that constricting market share, increasing costs, and a sluggish economy don't paint a rosy picture for any small businesses trying to grow. Call me a pessimist if you want but I can't point to one thing that this Administration has done in three years to help small businesses that will off-set the financial damage brought on by this trade war.
  5. JoeNation

    JoeNation Patron Saint of Idiots

    Manufacturing economy weakest in a decade as December ISM index comes in at 47.2
    Source: CNBC

    Manufacturing economy weakest in a decade as December ISM index comes in at 47.2

    The Institute for Supply Management said Friday its manufacturing index fell in December to 47.2.
    That's its lowest level since June 2009, when it hit 46.3.
    "Global trade remains the most significant cross-industry issue," said ISM Chair Timothy R. Fiore.

    Manufacturing activity in the U.S. contracted to its lowest level in more than a decade last month even as China and the U.S. showed progress on the trade front.

    The Institute for Supply Management said Friday its manufacturing index fell in December to 47.2. That's its lowest level since June 2009, whet it hit 46.3. Economists polled by Reuters expected a reading of 49 for December. Anything below 50 represents sector contraction.

    December also marked the fifth straight month of contraction for the U.S. manufacturing sector.

    "Global trade remains the most significant cross-industry issue, but there are signs that several industry sectors will improve as a result of the phase-one trade agreement between the U.S. and China," said Timothy R. Fiore, chair of the Institute for Supply Management, in a statement.

    China and the U.S. announced last month that they reached a so-called phase one trade deal, which President Donald Trump later said would be signed on Jan. 15.

    Still, ISM said new orders in the manufacturing sector dropped 0.4 percentage points in December to 46.8, down from a November reading of 47.2. Employment, order backlogs and inventories also dropped last month while prices rose.

    Read more: https://www.cnbc.com/2020/01/03/ism-manufacturing-index-december-2019.html

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