Trump`s top economic adviser on tariffs

[August West]

Who will pay the tariffs? We will. I expect to see Kudlow canned.
Kudlow acknowledges U.S. consumers — not China — pay for tariffs on imports

 

[bullwinkle]

Who will pay the tariffs? We will. I expect to see Kudlow canned.
Kudlow acknowledges U.S. consumers — not China — pay for tariffs on imports

August, do you remember those days way back on 06 - 07 when we were reading daily about lay-offs in the tens of thousands, businesses folding, and For Sale signs in front yards popping up like dandelions in spring? I remember well the voice of Lawrence Kudlow emphatically telling America that "The economy is sound!"

I saw the Fox clip where he waffled loyally once again. Wanna bet significant cuts to SS and Medicare are on the agenda, among other cuts to pay for subsidies for losers of income due to tariffs in addition to higher costs?

 

[Mac1958]

Once an economist becomes a blind hardcore partisan ideologue, they're more a threat than an asset. Kudlow has long suffered from the same intellectual myopia from which all ideologues suffer.

Trump clearly doesn't understand (shock!) that this is an asymmetrical relationship. China's leaders can let many of their people suffer without consequence. It doesn't work that way in America.
.

 

[Meathead]

Who will pay the tariffs? We will. I expect to see Kudlow canned.
Kudlow acknowledges U.S. consumers — not China — pay for tariffs on imports

While China will not pay the tariffs, they'll definitely pay for them. Of course I realize I talking to partisan idiots. Se la vie.

 

[protectionist]

Who will pay the tariffs? We will. I expect to see Kudlow canned.
Kudlow acknowledges U.S. consumers — not China — pay for tariffs on imports

Kudlow is wrong. You will pay for the tariffs IF YOU'RE STUPID. Anytime companies raise prices, from whatever reason, you should STOP BUYING. That then causes the seller to bring his prices back down again.

This is what creates a price in the first place. The inability of the seller to go above the MARKET PRICE, due to reduced sales/income. A product price isn't somebody's lucky number.

 

[protectionist]

Once an economist becomes a blind hardcore partisan ideologue, they're more a threat than an asset. Kudlow has long suffered from the same intellectual myopia from which all ideologues suffer.

Trump clearly doesn't understand (shock!) that this is an asymmetrical relationship. China's leaders can let many of their people suffer without consequence. It doesn't work that way in America.
.

Oh no ? How about 400,000 Americans losing their lives in World War II ? Wouldn't you call that "consequences" ? On the other hand, what would the consequences have been if the US had allowed Hitler and Hirohito to run rampant ?

Some people seem to forget that this is a trade WAR. (brought about by the negligence of 4 previous US presidents).

 

[protectionist]

August, do you remember those days way back on 06 - 07 when we were reading daily about lay-offs in the tens of thousands, businesses folding, and For Sale signs in front yards popping up like dandelions in spring? I remember well the voice of Lawrence Kudlow emphatically telling America that "The economy is sound!"

I saw the Fox clip where he waffled loyally once again. Wanna bet significant cuts to SS and Medicare are on the agenda, among other cuts to pay for subsidies for losers of income due to tariffs in addition to higher costs?

I'll take that bet (in a heartbeat)

 

[Mac1958]

Once an economist becomes a blind hardcore partisan ideologue, they're more a threat than an asset. Kudlow has long suffered from the same intellectual myopia from which all ideologues suffer.

Trump clearly doesn't understand (shock!) that this is an asymmetrical relationship. China's leaders can let many of their people suffer without consequence. It doesn't work that way in America.
.

Oh no ? How about 400,000 Americans losing their lives in World War II ? Wouldn't you call that "consequences" ? On the other hand, what would the consequences have been if the US had allowed Hitler and Hirohito to run rampant ?

Some people seem to forget that this is a trade WAR. (brought about by the negligence of 4 previous US presidents).

Huh?
.

 

[Toro]

Who will pay the tariffs? We will. I expect to see Kudlow canned.
Kudlow acknowledges U.S. consumers — not China — pay for tariffs on imports

Of course Kudlow understands this. He’s a trained economist.

People who don’t understand economics believe otherwise.

 

[Toro]

Who will pay the tariffs? We will. I expect to see Kudlow canned.
Kudlow acknowledges U.S. consumers — not China — pay for tariffs on imports

Kudlow is wrong. You will pay for the tariffs IF YOU'RE STUPID. Anytime companies raise prices, from whatever reason, you should STOP BUYING. That then causes the seller to bring his prices back down again.

This is what creates a price in the first place. The inability of the seller to go above the MARKET PRICE, due to reduced sales/income. A product price isn't somebody's lucky number.

Dude, that’s ridiculous. You don’t understand economics.

That’s like saying you shouldn’t make more income if you don’t want to pay higher income taxes.

 

[alang1216]

Who will pay the tariffs? We will. I expect to see Kudlow canned.
Kudlow acknowledges U.S. consumers — not China — pay for tariffs on imports

Kudlow is wrong. You will pay for the tariffs IF YOU'RE STUPID. Anytime companies raise prices, from whatever reason, you should STOP BUYING. That then causes the seller to bring his prices back down again.

This is what creates a price in the first place. The inability of the seller to go above the MARKET PRICE, due to reduced sales/income. A product price isn't somebody's lucky number.

Capitalism 101: if the lowest price product in a market raises its price every other product is free to raise their price too. Check out the prices of washers and dryers in the US for an example. The average price increased once China tariffs were in place, including those made in the US. You're welcome to do your laundry by hand but that won't work for most of us.

 

[alang1216]

Who will pay the tariffs? We will. I expect to see Kudlow canned.
Kudlow acknowledges U.S. consumers — not China — pay for tariffs on imports

While China will not pay the tariffs, they'll definitely pay for them. Of course I realize I talking to partisan idiots. Se la vie.

Knowing others are suffering doesn't make my suffering any better.

 

[protectionist]

Dude, that’s ridiculous. You don’t understand economics.

That’s like saying you shouldn’t make more income if you don’t want to pay higher income taxes.

YOU are talking ridiculous. NO, it is NOTHING like what you said. One has nothing to do with the other. Totally FALSE analogy.

And apparently YOU don't understand economics, so as a former college economics teacher, allow me to teach it to you. Let's start by you answering this question >> What do you think creates a price in the first place ? (hint: it's not your lucky number)

 

[Indeependent]

Who will pay the tariffs? We will. I expect to see Kudlow canned.
Kudlow acknowledges U.S. consumers — not China — pay for tariffs on imports

Kudlow has rarely agreed with Trump until Trump’s policies work out.

 

[protectionist]

Capitalism 101: if the lowest price product in a market raises its price every other product is free to raise their price too. Check out the prices of washers and dryers in the US for an example. The average price increased once China tariffs were in place, including those made in the US. You're welcome to do your laundry by hand but that won't work for most of us.

You don't have to do your laundry by hand. There are millions of laundries on the street, and in housing complexes. I live in an apartment complex. I have a washer & dryer in my apartment, but I could go to the laundry of the complex if I wanted too. I could also go to any one of 3 different laundromats that are within a few blocks from me.

If people would do THAT, instead of stupidly paying the higher prices, which the seller should know he can't do, you would have no problem. You are partially creating a problem here, where there need not be one.

When the seller reduces his prices back down again (due to reduced sales/income), THEN you go out and buy your washing machine (at the MARKET PRICE)

PS - I taught microeconomics 101 in college for 3 years, and now you get the benefit.

 

[cnm]

On the other hand, what would the consequences have been if the US had allowed Hitler and Hirohito to run rampant ?

The US did let Hitler run rampant until he declared war on the US.

 

[cnm]

If people would do THAT, instead of stupidly paying the higher prices, which the seller should know he can't do, you would have no problem. You are partially creating a problem here, where there need not be one.

Perhaps they don't want to go to the laundry in the complex.

 

[alang1216]

Capitalism 101: if the lowest price product in a market raises its price every other product is free to raise their price too. Check out the prices of washers and dryers in the US for an example. The average price increased once China tariffs were in place, including those made in the US. You're welcome to do your laundry by hand but that won't work for most of us.

You don't have to do your laundry by hand. There are millions of laundries on the street, and in housing complexes. I live in an apartment complex. I have a washer & dryer in my apartment, but I could go to the laundry of the complex if I wanted too. I could also go to any one of 3 different laundromats that are within a few blocks from me.

If people would do THAT, instead of stupidly paying the higher prices, which the seller should know he can't do, you would have no problem. You are partially creating a problem here, where there need not be one.

When the seller reduces his prices back down again (due to reduced sales/income), THEN you go out and buy your washing machine (at the MARKET PRICE)

PS - I taught microeconomics 101 in college for 3 years, and now you get the benefit.

Is this from someone who actually does his own laundry? I'd consider it a major inconvenience and expense to have to leave my house to do my laundry. I've done it and it is an expensive pain and I'd consider it a lowering of my standard of living.

 

[Meathead]

Who will pay the tariffs? We will. I expect to see Kudlow canned.
Kudlow acknowledges U.S. consumers — not China — pay for tariffs on imports

Kudlow is wrong. You will pay for the tariffs IF YOU'RE STUPID. Anytime companies raise prices, from whatever reason, you should STOP BUYING. That then causes the seller to bring his prices back down again.

This is what creates a price in the first place. The inability of the seller to go above the MARKET PRICE, due to reduced sales/income. A product price isn't somebody's lucky number.

Capitalism 101: if the lowest price product in a market raises its price every other product is free to raise their price too. Check out the prices of washers and dryers in the US for an example. The average price increased once China tariffs were in place, including those made in the US. You're welcome to do your laundry by hand but that won't work for most of us.

This also means people will have better products which will last longer, since of course the cheapest is no longer the cheapest. Nice try snowflake.

 

[wamose]

A company always prices its products according to what the market will bear. So what makes people think it's so easy to just add the cost of tariffs to the sale price? Protectionism is good. Tariffs protect an advanced countries standard of living. Hell, our country used to be totally funded by tariffs before we adopted the income tax.