tarriffs viz. inflation

(oops...heading should start "tariffs...clumsy fingers)

How bizarre that the oaf believes that his big, beautiful tariffs will not contribute to inflation?

see: https://www.nbcnews.com/business/consumer/companies-warn-consumers-prices-rising-tariffs-rcna222349

And him demanding the Fed lower interest rates is a recipe for certain spikes in inflation.

Or am I missing something that the other experts are also missing?

Has the oaf concocted a "secret sauce" for America?

Quote: missedhervee

Or am I missing something that the other experts are also missing?

You are always missing it, but TDS has you so mentally ill that you need to get on pills before you can understand.

Quote: AZDuffman

You are always missing it, but TDS has you so mentally ill that you need to get on pills before you can understand.

Thanks Doctor Jack-off Kevorkian, but stick to the point: exactly how am I incorrect in my analysis / prediction that tariffs=inflation?

Quote: missedhervee

Thanks Doctor Jack-off Kevorkian, but stick to the point: exactly how am I incorrect in my analysis / prediction that tariffs=inflation?

Likely will. But if we are going to pay for the stuff the federal government does, money will need to be collected from somewhere. You can raise income taxes or sales taxes or assorted fees instead.

There is nothing inherently wrong with tariffs. And they DO help purely American businesses compete with foreign businesses that use slave labor, government subsidies, etc.

You can certainly argue against the Trump technique (50%, no, I meant 15%, wait, let’s do 28.6%, etc.). But I disagree with the tariff must be bad’ philosophy. Seems like a 15% mark is enough to help collect revenue, give American firms a slight edge, and not be disruptive to international trade.

But to more specifically answer your question, say you only had two choices to collect money for the Feds…. Tariffs or income taxes. Tariffs may be inflationary, but higher income taxes affect BUYING POWER in the same way.

But hasn't our business model changed such that we directed that all stuff be manufactured offshore?

All the smog, air and water pollution: we had to address it and we did, which led to offshore manufacture.

With "drill, baby drill" and his anti-wind power silliness the oaf is signaling his willingness to shit-can the environment once again in support of fomenting economic growth.

The thing is, Americans were doing OK with the offshore business model: the cost of consumer goods from Asia was better than we could mfr. and sell them for but hey, we were happy and still making money.

Quote: missedhervee

But hasn't our business model changed such that we directed that all stuff be manufactured offshore?

All the smog, air and water pollution: we had to address it and we did, which led to offshore manufacture.

With "drill, baby drill" and his anti-wind power silliness the oaf is signaling his willingness to shit-can the environment once again in support of fomenting economic growth.

The thing is, Americans were doing OK with the offshore business model: the cost of consumer goods from Asia was better than we could mfr. and sell them for but hey, we were happy and still making money.

Except we realized that FULL dependence on foreign producers of some stuff (medicines, computer chips, etc..) puts our national interests at risk. I think most Americans would be in favor of policies that generally shift manufacturing back to our 50 states. What governor doesn’t boast when a new factory is being built in his state? You think even Newsom will say ‘I am sorry to announce that Abbott Labs will now be opening a factory here in California’?

From the 5th circuit court

Quote:

Can the trade deficit be an extraordinary and unusual threat when we had trade deficits for years

Trump following the law while he's been using emergency powers to enact tariffs? Don't think so.

Should be an interesting ruling.

.
global stocks fell after the announcement of new tariffs

U.S. futures are way down also before trading starts today

stocks could gain if new deals are made before the deadline

if not, who knows - it's not a predictable thing -

.

May and June revised numbers job growth, worst in 5 years.

Duffman already shaking his finger at us libs> "just you wait, you'll see".

Yup, not seeing it. Might even get worse.