Trump will trash the economy

[multivita-man]

From Josh Marshall:

On the tariff front, this doesn’t get discussed much in the news. But the President has zero power to do tariffs. Entirely a Congress power. There is a law which allows the President to impose tariffs on an emergency basis. All of this is based on that law.​

But if the Congress goes along with it...

This is a distinction without much of a difference.

 

[Synthaholic]

 

[Synthaholic]

Trump-Russia was always real.

 

[The Duke]

Trump will destroy President Biden’s beautiful economy if he gets back in. Time to start listing his terrible ideas.

 

[multivita-man]

View attachment 1096244

Correct. There's no evidence that there's been any sort of macroeconomic analysis that anyone would recognize as sound or valid.

The important part is, all the Bloomberg News & CNBC & Wall Street Journal talking heads who tried to FIN-splain & ECON-splain Trump's 22-dimension chess are gonna look like a bunch of ******* tools.

I think the best, most insightful global strategist over the last year has been a guy by the name of Michael Every, of Rabobank. At times he's seemed contrarian, but he's just trying to get people to think differently about what tariffs are and what they're for, and what GDP is for and so on.

Every has been clear. This tariff gambit could work, if there's real strategy and analysis involved. Or it could totally misfire.

 

[multivita-man]

Trump-Russia was always real.

To be fair and clear, Russia already has a shit-ton of sanctions that, to date, haven't really been lifted.

 

[Synthaholic]

You are correct, Mr. Vice-President.

 

[multivita-man]

You are correct, Mr. Vice-President.

View attachment 1096247

There's an easy MAGA counter to that.

Unfortunately, the way these tariffs have been structured, I don't think they can capitalize on that talking point.

 

[Synthaholic]

Two months ago, under Joe Biden, we had the best economy in the world.

 

[multivita-man]

Two months ago, under Joe Biden, we had the best economy in the world.

My ass.

And I would have voted for the senescent sonofabitch, but no. I mean I did because I earn six figures and I have assets, but if you're an Amazon truck driver or warehouse worker, or doing Doordash for a living, you're in a different world. The financialized economy needed to end. Trump was NOT wrong to run on that mandate.

But god damn it's a shame he is a moron and he has hired a cabinet full of self-serving yes-men to carry out grand strategy. This could have been a good legacy for him and it's likely not going to be.

 

[Synthaholic]

 

[Synthaholic]

My ass.

You can't gaslight me.

 

[multivita-man]

You can't gaslight me.

"Envy of the world" because no other economy had the means to recover from the pandemic. The US could because it basically was the world's consumer and the banker. It printed money and consumed based on the money it printed. The problem with that is that new money supply doesn't go directly to consumers; it goes to asset-holders/investors, like, say, real estate investors, who buy up properties that increasingly working class Americans will never be able to afford. They become permanent renters instead of first-time homeowners, or they become financially-distressed first-time homeowners.

Did I vote for Harris over Trump? Yes, I did, because I thought that, ultimately, while the diagnosis he made might have been correct, he prescribed the wrong wrong meds, the wrong dosage, and had incompetent docs and nurses on hand.

 

[Synthaholic]

So, the felon child-****** put tariffs on Cuba, a country we have a trade embargo on. Because he's stupid.

The Russian useful idiot also put tariffs on penguins, the only inhabitants of two islands he included. Because he's a fool.

 

[Synthaholic]

Because he's a fool.

 

[multivita-man]

So, the felon child-****** put tariffs on Cuba, a country we have a trade embargo on. Because he's stupid.

The Russian useful idiot also put tariffs on penguins, the only inhabitants of two islands he included. Because he's a fool.

Pretty much.

Throwing spaghetti against the wall.

I only 'defend' his policy insofar as I think Democrats could have been pushing for some of his working class agenda around 2008-2009. Instead we were bailing out Wall Street, telling millions of unemployed Americans that our neoliberal financialized economic regime was worth preserving. Every common man knew it wasn't, but we had an administration of globalists arguing it was.

 

[Ringo]

The Russian useful idiot also put tariffs on penguins, the only inhabitants of two islands he included. Because he's a fool.

Today, showing us that Trump is so stupid we are told that Trump has imposed tariffs against islands inhabited by penguins.

What they don't tell you is that you can legally register a company on these islands and trade with a registered office on the island.

So when they tell you how stupid Trump is, it's you who they want to make stupid.

What Trump has done may shake the States a bit, but it will lead to amazing results. He is really revitalizing the auto industry and other businesses that were in bad shape because the States were just flooded with imports.

 

[citygator]

Dow futures down 1,000.

Dow futures tumble 1,000 points on fear Trump’s tariffs will spark trade war

 

[citygator]

The dollar has crashed under Trump.

 

[citygator]