Trump`s top economic adviser on tariffs

[Meathead]

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.

So paying more for something ensures it will be better? And you call me a snowflake.

Capitalism 101: A more expensive product that is of lower quality will cease to be produced. I call you a snowflake because we both know this isn't about your concern about cheap products, but of your president. Well, and because you so obviously are.

 

[alang1216]

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.

The previous post (# 22) just answered this.

If somebody physically attacked you, or took your property, would you fight back to ward off that attack, or would you let them beat you up or steal your stuff, , because fighting requires energy and inconvenience ?

I feel like I'm talking to spoiled, brainless millennials.

And yes, like most people, I ACTUALLY do MY OWN laundry. Don't you ?

My apologies, I thought you were making an economic argument about tariffs ("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.") I didn't realize you changed to a political argument. I feel like I'm talking to my father when he had trouble keeping his thoughts straight.

 

[iamwhatiseem]

Capitalism 101: A more expensive product that is of lower quality will cease to be produced....

Corporatism 101... that statement is patently false.
You are speaking on a free market system, we are FAR from a free market system.

 

[bullwinkle]

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)

You better hope that heartbeat is strong and regular, because if it gets wobbly...dang, you have a pre-existing condition!

 

[bullwinkle]

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

We DID let them run rampant...until they both declared war on us! Guess you forgot the "America First" movement that died a sudden death on 12/07/1941 @ 7:55 AM Hawaii time. But until that moment they were a strong power.

 

[bullwinkle]

While China will not pay the tariffs, they'll definitely pay for them.

ummm, how?

 

[Meathead]

While China will not pay the tariffs, they'll definitely pay for them.

ummm, how?

Clearly stated if you but had a fundamental grasp of economics and nuance of the English language

 

[bullwinkle]

While China will not pay the tariffs, they'll definitely pay for them.

ummm, how?

Clearly stated if you but had a fundamental grasp of economics and nuance of the English language

OK, I get it. You don't know.

 

[Toro]

While China will not pay the tariffs, they'll definitely pay for them.

ummm, how?

Clearly stated if you but had a fundamental grasp of economics and nuance of the English language

So will we.

 

[Toro]

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)

Dude, you weren’t a college economics “teacher.”

 

[protectionist]

Yes, I agree but only to a point because there is a difference.

I buy & sell rare items that are difficult to source because they are in very limited supply; people are willing to PAY for this type of difficult to source rarity.

He is referring to mass produced consumer items that can easily be sourced from multiple vendors in an extremely competitive market.
And besides that point no one is going to start selling lap tops for $100K, and if they did only his dumb ass would buy one.

Homey don't play dat game.

Do you have any clue what you're talking about ? The bell-shaped curve of Prices vs Income has nothing to do with whether you are selling an old Martin guitar, a 1920s Gibson Lloyd Loar mandolin, or a pair of pants. In every case, the firm must ascertain what is its MARKET PRICE for each product. That is the highest price it can charge, without triggering sales reductions, thereby causing income/profit reductions.

 

[protectionist]

Dude, you weren’t a college economics “teacher.”

1. I was, and you are my student.

2, When are you going to stop running away from my question ?

 

[protectionist]

My apologies, I thought you were making an economic argument about tariffs ("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.") I didn't realize you changed to a political argument. I feel like I'm talking to my father when he had trouble keeping his thoughts straight.

I spoke about more than one point. Are you able to handle only one at time ?

As for your apologies, don't apologize. Apologies are for the benefit of the apologizer.

 

[protectionist]

You better hope that heartbeat is strong and regular, because if it gets wobbly...dang, you have a pre-existing condition!

You don't know that Social Security & Medicare are the 3rd rail of politics ? NOBODY touches them.

 

[protectionist]

ummm, how?

By not having it be economical for them to export to us.

 

[protectionist]

So will we.

Yeah ? WHY ?

 

[bullwinkle]

You better hope that heartbeat is strong and regular, because if it gets wobbly...dang, you have a pre-existing condition!

You don't know that Social Security & Medicare are the 3rd rail of politics ? NOBODY touches them.

Oh, you mean the socialist programs them old Democrats forced on us? I'm not as certain as you that NOBODY touches them. Hope you are right though.

 

[sparky]

A tariff is a tax

not a phenomenal hurdle

jhmo

~S~

 

[caddo kid]

Yes, I agree but only to a point because there is a difference.

I buy & sell rare items that are difficult to source because they are in very limited supply; people are willing to PAY for this type of difficult to source rarity.

He is referring to mass produced consumer items that can easily be sourced from multiple vendors in an extremely competitive market.
And besides that point no one is going to start selling lap tops for $100K, and if they did only his dumb ass would buy one.

Homey don't play dat game.

Do you have any clue what you're talking about ? The bell-shaped curve of Prices vs Income has nothing to do with whether you are selling an old Martin guitar, a 1920s Gibson Lloyd Loar mandolin, or a pair of pants. In every case, the firm must ascertain what is its MARKET PRICE for each product. That is the highest price it can charge, without triggering sales reductions, thereby causing income/profit reductions.

I have been buying & selling guitars for over 40 years, and you wanna tell me how it's done?

LOFL ...............

 

[Toro]

Dude, you weren’t a college economics “teacher.”

1. I was, and you are my student.

2, When are you going to stop running away from my question ?

Dude, I doubt you know what goes on the X and Y axes of a supply/demand chart.