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  #171  
Old 07-20-2018, 10:18 PM
Chicks Chicks is offline
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Just watched a segment on National Business Report on the woes of North Dakota soybean farmers, many of whom won't survive Donny's idiotic trade war. These are all people who voted for the idiot, so it's difficult to feel sorry for them. Hope they will eventually learn not to vote for a know-nothing con artist.
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  #172  
Old 07-20-2018, 11:17 PM
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Trump’s Specious Trade Tweets

Lies, of course. He just pulls his "facts" out of his ass, and the Trumpkins believe every word. Sad!

https://www.factcheck.org/2018/07/tr...-trade-tweets/
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  #173  
Old 07-21-2018, 10:47 AM
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Multinational companies will shift manufacturing to avoid tariffs on raw materials such as steel and aluminum (cars and appliances) leading to job losses permanently in these sectors. Companies forced to pay tariffs will now have increased costs and thus making their products less competitive losing market share, again leading to loss of jobs.

Trade wars intended for protecting jobs thus have the opposite effect. This is called losing, not winning.
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  #174  
Old 07-24-2018, 08:52 AM
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Whirlpool loved Trump's tariffs. Now it's struggling

Predictable, yet fully preventable. Impeach the moron.

https://money.cnn.com/2018/07/24/new...ffs/index.html
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  #175  
Old 07-24-2018, 10:35 AM
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White House readies plan for $12 billion in emergency aid to farmers caught in Trump’s escalating trade war

Quote:
The new plan at the Agriculture Department would advance emergency funds for these farmers but likely not provide a long-term solution if the trade disputes with China and other countries persist.

Because the program was created during the Depression, it does not rely on new congressional approval. It allows the CCC to borrow up to $30 billion from the Treasury Department to “stabilize, support, and protect farm income and prices.”

Still, some Republicans several months ago had warned against using the CCC as part of a trade-war related bailout, saying it could distort market forces and pay farmers for products they don’t produce.

Trump is trying to mollify a growing chorus of complaints from Republicans and business groups, who have complained that his trade approach is hurting broad swaths of the economy.
MAGA my ass.

https://www.washingtonpost.com/busin...=.36aaa3dfe6f8
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  #176  
Old 07-24-2018, 11:00 AM
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Quote:
Originally Posted by Rajoo View Post
White House readies plan for $12 billion in emergency aid to farmers caught in Trump’s escalating trade war



MAGA my ass.
OMG. How ironic. The populist moron, using one of FDR’s “big government” programs, which he and his idiot followers regularly rail against, to bail out his idiot supporters, who are suffering due to his misguided policies.
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  #177  
Old 07-25-2018, 11:30 AM
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Trump pushes 25 percent auto tariff as top advisers scramble to stop him

Quote:
Several of President Trump’s senior economic advisers believe he plans to push forward with 25 percent tariffs on close to $200 billion in foreign-made automobiles later this year, three people briefed on internal discussions said.

Trump wants to move forward despite numerous warnings from GOP leaders and business executives who have argued that such a move could damage the economy and lead to political mutiny.

But Trump has become increasingly defiant in his trade strategy, following his own instincts and intuition and eschewing advice from his inner circle. He has told advisers and Republicans to simply trust his business acumen, a point he tried to reinforce Wednesday morning in a Twitter post.

“Every time I see a weak politician asking to stop Trade talks or the use of Tariffs to counter unfair Tariffs, I wonder, what can they be thinking?” Trump said Wednesday. “Are we just going to continue and let our farmers and country get ripped off?”
Wonder if this is his midterm election strategy or just more of the same idiotic decision. Last I read, none of the American automakers want to build cars in the US anymore.

https://www.washingtonpost.com/busin...=.a583336f6d0b
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  #178  
Old 07-25-2018, 11:53 AM
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Top American brands say the trade war is now eating into their profits
Quote:
Some of the largest companies in America are reporting this week that they are suffering the sting of the Trump administration’s trade war, sounding alarm in an otherwise prosperous economy.

General Motors said Wednesday that it has lowered its outlook for 2018 earnings in part because of significant increases in the costs of raw material. GM’s stock fell more than 6 percent during early morning trading. Trump imposed tariffs on aluminum and steel — major components of cars — earlier this year.

Harley-Davidson said Tuesday that it is expects its operating margin as a percent of revenue to hit 9 to 10 percent because of the impact of the tariffs, down slightly from last year. And Whirlpool, which was supposed to benefit from Trump-imposed tariffs on foreign-made washing machines earlier this year, reported Tuesday that it did not make its second-quarter earnings estimates as steel prices rose 50 percent.

On a company earnings call, Whirlpool chief executive Marc Bitzer said steel costs worldwide have “risen substantially. ”

And in particular in the U.S., they have reached unexplainable levels,” Bitzer said.
This usually means gouging is going on.

https://www.washingtonpost.com/busin...=.d3e0d20ad6da
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  #179  
Old 07-25-2018, 01:20 PM
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How the Trump Tax Cut Is Helping to Push the Federal Deficit to $1 Trillion
Quote:
In the trough of the Great Recession in 2009, as companies laid off hundreds of thousands of workers each month, the amount of corporate income taxes collected by the federal government plunged by almost a third. It was the largest quarterly drop since the Commerce Department began compiling the data in the 1940s. No other period came close.

Until this year.

In the first half of 2018, corporate tax collections dropped to historically low levels as a share of the economy, according to data from the Bureau of Economic Analysis. That is pushing up the federal budget deficit much faster than economists had predicted.

The reason is President Trump’s tax cuts. The new law introduced a standard corporate rate of 21 percent, down from a high of 35 percent, and allowed companies to immediately deduct many new investments. As companies operate with a lower tax burden and a greater ability to offset what they owe, the federal government is receiving far less revenue than it would have under the previous tax system.

The growing deficit has forced the Trump administration to adjust its claim that the tax cuts would pay for themselves by generating increased revenue from faster economic growth. The White House’s Office of Management and Budget said this month that it had revised its forecasts from earlier this year to account for nearly $1 trillion of additional debt over the next decade — almost $100 billion a year in additional deficits, on average.

That is hindering the government’s ability to stabilize its balance sheet before the next recession hits or maintain spending programs that could help blunt the pain of future downturns. Economists equate that process to refilling the city water tower during periods of heavy rain, in order to prepare for the next drought. It’s not happening this time around.

So what’s going on?
Now the GOP House is going to propose another round of tax cuts just before the Nov. elections to curry favor among their demented base. Insanity prevails not only in the WH but also in the GOP House.

https://www.nytimes.com/2018/07/25/b...t-deficit.html
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  #180  
Old 07-25-2018, 01:39 PM
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Made in China: Trump re-election flags may get burned by his tariffs

https://www.reuters.com/article/us-u...-idUSKBN1KF1D6
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