Marener
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- Jul 26, 2022
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This is a nonsensical analogy. By all accounts, America was already winning.
'Blowing up the world trading system': Conservative WSJ editors turn on Trump
- Thread starter C_Clayton_Jones
- Start date
CrusaderFrank
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‘Trump's new, sweeping regime of tariffs on imported goods from essentially the entire world is meant to build up American manufacturing, but the president will swiftly discover that it will have the opposite effect, warned the conservative Wall Street Journal editorial board on Thursday — the latest in a long line of criticisms the board has written about Trump's trade policy.
The move toward "blowing up the world trading system," coming as Trump also seeks to dismantle much of the federal government, including institutions that boost manufacturing, will have several consequences, the board argued — none of them good. The first of these consequences is the potential immediate damage to the U.S. economy, wrote the board.
"The overall economic impact of Mr. Trump’s tariff barrage is unknowable — not least because we don’t know how countries will react. If countries try to negotiate with the U.S. to reduce tariffs, the damage could be milder. But if the response is widespread retaliation, the result could be shrinking world trade and slower growth, recession, or worse."
The taxes will be paid by U.S. workers and gradually erode our competitiveness, the board warned. But it goes further than that, the board argued — the tariffs will actually set back some of Trump's greatest policy goals. For one, he wants to boost American exports, but they are likely to be reduced.’
'Blowing up the world trading system': Conservative WSJ editors turn on Trump
President Donald Trump's new, sweeping regime of tariffs on imported goods from essentially the entire world is meant to build up American manufacturing, but the president will swiftly discover that it will have the opposite effect, warned the conservative Wall Street Journal editorial board on...www.rawstory.com
The problem, of course, is Trump won’t listen.
Too stupid and arrogant to admit he’s wrong, Trump will continue to pursue his failed policy of tariffs and trade wars.
WSJ is about as Conservative as David Brock or USMB's Jake Starkey
‘Trump's new, sweeping regime of tariffs on imported goods from essentially the entire world is meant to build up American manufacturing, but the president will swiftly discover that it will have the opposite effect, warned the conservative Wall Street Journal editorial board on Thursday — the latest in a long line of criticisms the board has written about Trump's trade policy.
The move toward "blowing up the world trading system," coming as Trump also seeks to dismantle much of the federal government, including institutions that boost manufacturing, will have several consequences, the board argued — none of them good. The first of these consequences is the potential immediate damage to the U.S. economy, wrote the board.
"The overall economic impact of Mr. Trump’s tariff barrage is unknowable — not least because we don’t know how countries will react. If countries try to negotiate with the U.S. to reduce tariffs, the damage could be milder. But if the response is widespread retaliation, the result could be shrinking world trade and slower growth, recession, or worse."
The taxes will be paid by U.S. workers and gradually erode our competitiveness, the board warned. But it goes further than that, the board argued — the tariffs will actually set back some of Trump's greatest policy goals. For one, he wants to boost American exports, but they are likely to be reduced.’
'Blowing up the world trading system': Conservative WSJ editors turn on Trump
President Donald Trump's new, sweeping regime of tariffs on imported goods from essentially the entire world is meant to build up American manufacturing, but the president will swiftly discover that it will have the opposite effect, warned the conservative Wall Street Journal editorial board on...
The problem, of course, is Trump won’t listen.
Too stupid and arrogant to admit he’s wrong, Trump will continue to pursue his failed policy of tariffs and trade wars.
I like the way that your thread title, reports the split between the old school Free Trade ideologues, and the anti globilization Trump as though it just happened today instead of 9 years ago, when Trump first hit the scene.
It shows that you are completely not serious. Or honest.
- Apr 11, 2023
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We've been able to run large trade deficits for a long time because there is enormous demand for US dollars around the world. Dollars are our most valuable export, and we've been able to exchange them for vast material wealth. The global demand for, and willingness to exchange goods for, US dollars has made us the most materially wealthy nation on earth. We're basically crypto trillionaires minting the sovereign equivalent of Bitcoins.
The global dollar demand that sustains our prosperity is mostly a function of: 1. The global financial system we've set up through international institutions like the World Bank and IMF, 2. Our credibility as an ally, trade partner, and guarantor of international stability, and 3. The world's admiration for, and desire for access to, our markets and our ultra high-tech goods and services.
The US has been so prosperous for so long that it probably feels inevitable. There's been so much demand for dollars for so long that it probably feels like we can solve our problems by slapping huge transaction fees on all dollar exports. The international monetary system has been so stable for so long that it probably feels like we can just withdraw from all our alliances and institutions without affecting our economy.
The stock market reaction is signaling that's not the case. US dollar demand and American prosperity are not inevitable, and there's an eager competitor named China waiting in the wings.
The global dollar demand that sustains our prosperity is mostly a function of: 1. The global financial system we've set up through international institutions like the World Bank and IMF, 2. Our credibility as an ally, trade partner, and guarantor of international stability, and 3. The world's admiration for, and desire for access to, our markets and our ultra high-tech goods and services.
The US has been so prosperous for so long that it probably feels inevitable. There's been so much demand for dollars for so long that it probably feels like we can solve our problems by slapping huge transaction fees on all dollar exports. The international monetary system has been so stable for so long that it probably feels like we can just withdraw from all our alliances and institutions without affecting our economy.
The stock market reaction is signaling that's not the case. US dollar demand and American prosperity are not inevitable, and there's an eager competitor named China waiting in the wings.
pknopp
Diamond Member
- Jul 22, 2019
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I have to admit that I have been wrong. I've long argued that it would be China, India and others that would destroy the dollar. Nope, seems it will be Trump.
- Apr 11, 2023
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Not at all. You don't understand it is your problem.
Independent thinker
Diamond Member
- Oct 15, 2015
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Your credibility is lost when you are against Trump on everything. So, your opinion doesn't really matter.
The Irish Ram
LITTLE GIRL / Ram Tough
- Apr 11, 2023
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Far more than yours does, for sure.
g5000
Diamond Member
- Nov 26, 2011
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You've been asleep for the past 8 years. No need to remind us, comrade.
g5000
Diamond Member
- Nov 26, 2011
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It's positively amazing how easily and quickly Trump was able to make all of you into Marxists.
g5000
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The WSJ has been calling Trump out for some time now.
It's going to be fun watching the White House Marxist convince his cult the WSJ is a socialist organ.
The Irish Ram
LITTLE GIRL / Ram Tough
Blah blah blah... Bought eggs lately?
pknopp
Diamond Member
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Everything? I used to support his anti-war position.
g5000
Diamond Member
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How did your propagandists trick you into bleeving a bird flu epidemic has anything to do with a president?Blah blah blah... Bought eggs lately?
My god. You members of the tard herd are way too easily led around by the rings in your noses!
Independent thinker
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LOL. Used to? One thing? In other words, you are against Trump on everything.
China likes that too. At least if they destroy part of our nation the Prog areas get it. We can only hope.
g5000
Diamond Member
- Nov 26, 2011
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Actually, Chinese-American Elon Musk is helping China destroy the US by eliminating the soft power we have around the world with USAID.
China is going to pounce into the vacuum we leave behind, all thanks to their water carrier Musk.
This and other actions by Trump is making the US irrelevant on the global stage.
When historians look back at the fall of the American empire, the two Trump administrations will be shown as the starting point.
- Apr 11, 2023
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An honorable position? Yes.
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