Chris Wallace Asks “What Happens When…?

[protectionist]

I will refrain from calling Chris Wallace “clueless”, and just accept that he is doing the jobs of a political talk show host. On Fox News Sunday with Chris Wallace, he asked Reince Preibus >> “What happens when the EU imposes their own tariffs ?" He was referring to President Trump’s proposal to put a 25% tariff on European steel imports.

If Chris Wallace (or anyone else) had a simple understanding of world economics, they could see this as a silly question. Maybe Chris should become a fan of Pat Buchanan, and rean some of his books. Suicide of a Superpower might be a good start. Chris might pay close attention to the p[arts where Pat mentions that America has (by far) the largest MARKET in the world.

We are the place where the EU countries, China, Mexico, and the whole rest of the world goes to, to sell their stuff. “Trade war” ? How laughable. As Pat Buchanan has stated, >> “If we got into a trade war, we’d eat their lunch.”

Summed up, with our enormous market of hundreds of millions of consumers with pockets (and plastic cards) full of money, they need us more than we need them. So trade war, the EU threatens ? That’s a bluff they can’t back up.

 

[busybee01]

You are a clueless moron. Trump's issue is Chinese steel. The trouble is that very little steel from China comes into the US. Trump is trying to hit a target that does not exist. Yes the EU is reportedly preparing a list of retaliatory tariffs. Any tariffs will raise the cost to consumers because US steel companies will raise their prices. Basic economics is that when the cost of inputs increase, prices increase.

 

[protectionist]

You are a clueless moron. Trump's issue is Chinese steel. The trouble is that very little steel from China comes into the US. Trump is trying to hit a target that does not exist. Yes the EU is reportedly preparing a list of retaliatory tariffs. Any tariffs will raise the cost to consumers because US steel companies will raise their prices. Basic economics is that when the cost of inputs increase, prices increase.

Obviously (at least to me), YOU are the "clueless moron".

Allow me to utilize my experience as a former college teacher of Microconomics, and a former business owner.. Common as it may be, the notion of the firm passing along increased costs to consumers is a MYTH.

No firm can increase its price above its market price, and that is the price you see on the shelves in the stores (the current price). It is the HIGHEST price that can be charged without triggering SALES REDUCTIONS/INCOME REDUCTIONS. That's why the price is what it is. It's not somebody's lucky number.

If the importers are having to pay more, and it becomes not economical for them, they won't import. Result ? The exporting companies can't stay in business (at least not overseas, and they return home) - exactly Trump's plan.

No charge for the tutoring.

 

[RoshawnMarkwees]

You are a clueless moron. Trump's issue is Chinese steel. The trouble is that very little steel from China comes into the US. Trump is trying to hit a target that does not exist. Yes the EU is reportedly preparing a list of retaliatory tariffs. Any tariffs will raise the cost to consumers because US steel companies will raise their prices. Basic economics is that when the cost of inputs increase, prices increase.

Obviously (at least to me), YOU are the "clueless moron".

Allow me to utilize my experience as a former college teacher of Microconomics, and a former business owner.. Common as it may be, the notion of the firm passing along increased costs to consumers is a MYTH.

No firm can increase its price above its market price, and that is the price you see on the shelves in the stores (the current price). It is the HIGHEST price that can be charged without triggering SALES REDUCTIONS/INCOME REDUCTIONS. That's why the price is what it is. It's not somebody's lucky number.

If the importers are having to pay more, and it becomes not economical for them, they won't import. Result ? The exporting companies can't stay in business (at least not overseas, and they return home) - exactly Trump's plan.

No charge for the tutoring.

That doesn't apply to energy. Energy isn't optional economically. Its necessary. Survival. When energy costs increase, so do costs of consumer goods and services. Just ask Obama and the AGW scammers.

 

[protectionist]

That doesn't apply to energy. Energy isn't optional economically. Its necessary. Survival. When energy costs increase, so do costs of consumer goods and services. Just ask Obama and the AGW scammers.

There are a FEW exceptions. Some are where companies have no competition, and users MUST have the product.

 

[RoshawnMarkwees]

That doesn't apply to energy. Energy isn't optional economically. Its necessary. Survival. When energy costs increase, so do costs of consumer goods and services. Just ask Obama and the AGW scammers.

There are a FEW exceptions. Some are where companies have no competition, and users MUST have the product.

Separate issue.
At least we have theoretical anti-collusion laws to protect against that.

 

[protectionist]

Separate issue.
At least we have theoretical anti-collusion laws to protect against that.

Not seperate issue. Prices can't be raised without triggered SALES REDUCTIONS$$$, only exceptions being where sales reductions don't happen ( which is rare)

 

[RoshawnMarkwees]

Separate issue.
At least we have theoretical anti-collusion laws to protect against that.

Not seperate issue. Prices can't be raised without triggered SALES REDUCTIONS$$$, only exceptions being where sales reductions don't happen ( which is rare)

But with energy and other commodities, prices fluctuate without any realized supply change. The promise or threat of change in supply in and of itself triggers price changes.

 

[tigerred59]

I will refrain from calling Chris Wallace “clueless”, and just accept that he is doing the jobs of a political talk show host. On Fox News Sunday with Chris Wallace, he asked Reince Preibus >> “What happens when the EU imposes their own tariffs ?" He was referring to President Trump’s proposal to put a 25% tariff on European steel imports.

If Chris Wallace (or anyone else) had a simple understanding of world economics, they could see this as a silly question. Maybe Chris should become a fan of Pat Buchanan, and rean some of his books. Suicide of a Superpower might be a good start. Chris might pay close attention to the p[arts where Pat mentions that America has (by far) the largest MARKET in the world.

We are the place where the EU countries, China, Mexico, and the whole rest of the world goes to, to sell their stuff. “Trade war” ? How laughable. As Pat Buchanan has stated, >> “If we got into a trade war, we’d eat their lunch.”

Summed up, with our enormous market of hundreds of millions of consumers with pockets (and plastic cards) full of money, they need us more than we need them. So trade war, the EU threatens ? That’s a bluff they can’t back up.

You guys turn on mf's on a dime...now Wallace is out.....that bus is getting awfully crowed under there tank.

 

[JimBowie1958]

Separate issue.
At least we have theoretical anti-collusion laws to protect against that.

Not seperate issue. Prices can't be raised without triggered SALES REDUCTIONS$$$, only exceptions being where sales reductions don't happen ( which is rare)

But with energy and other commodities, prices fluctuate without any realized supply change. The promise or threat of change in supply in and of itself triggers price changes.

Damn, I agree with both of you and yet you seem to be arguing.

 

[RoshawnMarkwees]

Separate issue.
At least we have theoretical anti-collusion laws to protect against that.

Not seperate issue. Prices can't be raised without triggered SALES REDUCTIONS$$$, only exceptions being where sales reductions don't happen ( which is rare)

But with energy and other commodities, prices fluctuate without any realized supply change. The promise or threat of change in supply in and of itself triggers price changes.

Damn, I agree with both of you and yet you seem to be arguing.

No argument. Just specifics.

 

[busybee01]

You are a clueless moron. Trump's issue is Chinese steel. The trouble is that very little steel from China comes into the US. Trump is trying to hit a target that does not exist. Yes the EU is reportedly preparing a list of retaliatory tariffs. Any tariffs will raise the cost to consumers because US steel companies will raise their prices. Basic economics is that when the cost of inputs increase, prices increase.

Obviously (at least to me), YOU are the "clueless moron".

Allow me to utilize my experience as a former college teacher of Microconomics, and a former business owner.. Common as it may be, the notion of the firm passing along increased costs to consumers is a MYTH.

No firm can increase its price above its market price, and that is the price you see on the shelves in the stores (the current price). It is the HIGHEST price that can be charged without triggering SALES REDUCTIONS/INCOME REDUCTIONS. That's why the price is what it is. It's not somebody's lucky number.

If the importers are having to pay more, and it becomes not economical for them, they won't import. Result ? The exporting companies can't stay in business (at least not overseas, and they return home) - exactly Trump's plan.

No charge for the tutoring.

Sounds like you have been mis-educating. Tariffs distort the market price. Tariffs will drive steel prices up and that includes domestic steel as well. Industries that use steel will be forced tp raise their prices. If they cannot then they will be unable to produce the product so the workers who produce the product will be unemployed. Then you have the inevitable retaliation which will hurt American businesses. Tariffs are a bad idea.