Trump: "Who is our bigger enemy," Powell or China's Xi?

[kevindavis007]

Maybe Trump shouldn't be listening to Pat Buchanan.

[libertybele]

There has to be a better way to accomplish these goals without financially ruining a large number of Americans. 

And the national debt is "unsustainable" because of DC's penchant for massive spending.

I couldn't agree with you more.  Certainly I believe the President is absolutely correct, we cannot allow China to dictate our economy.  Yes we are all going to feel some pain in our wallets, but to completely destroy and wipe out people's 401k's, IRA's, retirement financial plans, is quite another.  A global recession is going to be felt here in the U.S., and many could face losing their jobs, losing their homes, etc., it's going to cost everyone except the top 1% who are wealthy like Trump; he's got enough money that it will never affect him or his family.  Families living paycheck to paycheck, retirees living on fixed incomes, and many others will face extreme hardship and could possibly not be forced into poverty.

[Victoria33]

An out-of-control Trump maligns his own Fed chairman
https://www.washingtonexaminer.com/opinion/an-out-of-control-trump-maligns-his-own-fed-chairman

@mystery-ak

I just read Powell's entire speech given at Jackson Hole.  It is very long; he knows the entire history of the Federal Reserve and compares that history to today's monetary condition.  He appears to be super intelligent.
Here is what he said about trade via Trump without mentioning his name:

"We have much experience in addressing typical macroeconomic developments under this framework. But fitting trade policy uncertainty into this framework is a new challenge. Setting trade policy is the business of Congress and the Administration, not that of the Fed.  Our assignment is to use monetary policy to foster our statutory goals. In principle, anything that affects the outlook for employment and inflation could also affect the appropriate stance of monetary policy, and that could include uncertainty about trade policy. There are, however, no recent precedents to guide any policy response to the current situation. Moreover, while monetary policy is a powerful tool that works to support consumer spending, business investment, and public confidence, it cannot provide a settled rulebook for international trade. We can, however, try to look through what may be passing events, focus on how trade developments are affecting the outlook, and adjust policy to promote our objectives."

[edpc]

It’s a familiar formula. Trump is hoping that Powell will tire of the insults and rants, then resign, like Sessions did.

[Applewood]

Thanks @Victoria33   Seems to me Mr. Powell knows his stuff when it comes to the economy.   Trump doesn't.  And Trump supposedly graduated from the Wharton School. 

[edpc]

The biggest problem is Trump decided to open a trade war on multiple fronts. Whether he realizes it, or not, cooperation is required. Instead of reaching an agreement with the EU on trade first, he goes after Canada, Mexico, China, and the EU, nearly at the same time. This is why it’s difficult to secure cooperation on China and/or Iran.


Host Emmanuel Macron, France's president, and even British Prime Minister Boris Johnson also sounded the alarm about the dangers of Trump's escalating trade war with China.

"I am very concerned. The UK is at risk of being implicated in this. This is not the way to proceed," Johnson told reporters on the plane to the G7 summit in Biarritz.

"I want to see a dialling down of tensions."

-snip-

"This may be the last moment to restore our political community," he [EU Council President Donald Tusk] said. "The world needs our cooperation."

https://www.yahoo.com/news/protests-greet-g7-leaders-discuss-amazon-fires-trade-020344830.html

[Absalom]

For some of us employement is heavily reliant on trade with China. If China cancels orders with Boeing, Kenworth, Caterpillar,  Fords and Chevy, you are all going to feel it.

-------------------------------
The Chinese have been cheating, lying and stealing since the Shang Dynasty of 1500 BC.
That is the issue and emphatically NOT size of the wallets of assorted multi-nationals.

[Bigun]

This country was founded by men who loved liberty and were determined to have it regardless of the cost.  Now it seems that the order of the day is "How do I get another slice of meat on MY sandwich!" 

It's shameful!

Sacrifices of our founders.

[EdJames]

This country was founded by men who loved liberty and were determined to have it regardless of the cost.  Now it seems that the order of the day is "How do I get another slice of meat on MY sandwich!" 

It's shameful!

Sacrifices of our founders.

@Bigun I thought that @Sanguine addressed that very directly over here: http://www.gopbriefingroom.com/index.php/topic,373126.msg2040358.html#msg2040358

[Bigun]

@Bigun I thought that @Sanguine addressed that very directly over here: http://www.gopbriefingroom.com/index.php/topic,373126.msg2040358.html#msg2040358

  She sure did and I will tell her so @EdJames!

[Applewood]

This country was founded by men who loved liberty and were determined to have it regardless of the cost.  Now it seems that the order of the day is "How do I get another slice of meat on MY sandwich!" 

It's shameful!

Sacrifices of our founders.

Don't try to guilt me because I'm concerned about what I'm going to have to live on in my old age.    I made more than my share of sacrifices for others.   I worked long hours, gave up many an evening and weekend (and more than a few holidays) to get what I have.   Now that I'm old and have some health issues, it's time I worry about me. 

If you have so much money that you can afford to lose most of it to Trump's foolish trade war -- then fine by me.  But don't you dare try to lay a guilt trip on me for wanting to keep what little I have worked so hard for. 

[EdJames]

She sure did and I will tell her so @EdJames!

 

[Sanguine]

 Awww shucks.

[Sanguine]

Don't try to guilt me because I'm concerned about what I'm going to have to live on in my old age.    I made more than my share of sacrifices for others.   I worked long hours, gave up many an evening and weekend (and more than a few holidays) to get what I have.   Now that I'm old and have some health issues, it's time I worry about me. 

If you have so much money that you can afford to lose most of it to Trump's foolish trade war -- then fine by me.  But don't you dare try to lay a guilt trip on me for wanting to keep what little I have worked so hard for.

Yeah, I'm there too, I worked very hard to get where I am.  And, I'm willing to give some to get a better outcome for my kids and grandkids.  Even for your kids and grandkids.

[Applewood]

Yeah, I'm there too, I worked very hard to get where I am.  And, I'm willing to give some to get a better outcome for my kids and grandkids.  Even for your kids and grandkids.

Well, I don't have kids or grandkids, but if I did, I'd want them to work for what they have and be able to keep what they have in their old age.  Trump's trade war and other government shenanigans make that difficult, if not impossible.

[Bigun]

Don't try to guilt me because I'm concerned about what I'm going to have to live on in my old age.    I made more than my share of sacrifices for others.   I worked long hours, gave up many an evening and weekend (and more than a few holidays) to get what I have.   Now that I'm old and have some health issues, it's time I worry about me. 

If you have so much money that you can afford to lose most of it to Trump's foolish trade war -- then fine by me.  But don't you dare try to lay a guilt trip on me for wanting to keep what little I have worked so hard for.

@Applewood

Just the facts Mam! Nothing but the facts.  Any guilt you may feel is self-imposed.

[Sanguine]

Well, I don't have kids or grandkids, but if I did, I'd want them to work for what they have and be able to keep what they have in their old age.  Trump's trade war and other government shenanigans make that difficult, if not impossible.

"Work for what they want"?  First, they have to finish paying for us!  They're not the ones who have run up this enormous tab.

[Bigun]

"Work for what they want"?  First, they have to finish paying for us!  They're not the ones who have run up this enormous tab.

  

[Applewood]

@Applewood

Just the facts Mam! Nothing but the facts.  Any guilt you may feel is self-imposed.

I don't feel any guilt at all. 

[DCPatriot]

Don't try to guilt me because I'm concerned about what I'm going to have to live on in my old age.    I made more than my share of sacrifices for others.   I worked long hours, gave up many an evening and weekend (and more than a few holidays) to get what I have.   Now that I'm old and have some health issues, it's time I worry about me. 

If you have so much money that you can afford to lose most of it to Trump's foolish trade war -- then fine by me.  But don't you dare try to lay a guilt trip on me for wanting to keep what little I have worked so hard for.

You've got a poor attitude about this, @Applewood

During the Great War, nylon stockings took a back seat to parachutes, etc..

Our aunts put on coveralls while the men were fighting.

Not asking and not expecting that you should give any of your hard-earned money/wealth to others.

China has been stealing our intellectual property and through trade, has both hands on the scale. 

President Trump is making an effort to bring wealth back to the United States either with a fairer trade policy, or tariffs up the Ying-Yang!

[Applewood]

"Work for what they want"?  First, they have to finish paying for us!  They're not the ones who have run up this enormous tab.

'Whose fault is that?  Not mine or  yours.  The fault lies in our government which spends like drunken sailors.

(Apologies to all drunken sailors everywhere.)

[Bigun]

'Whose fault is that?  Not mine or  yours.  The fault lies in our government which spends like drunken sailors.

(Apologies to all drunken sailors everywhere.)

I beg to differ @Applewood, who was it that elected those people?

[Applewood]

I beg to differ @Applewood, who was it that elected those people?

I didn't vote for Trump who signed all those spending spree bills.   

[Bigun]

I didn't vote for Trump who signed all those spending spree bills.

You think Trump is responsible for us having spent a large portion of our children's money before they were even born?

The president does not get to appropriate so much as a penny.  Surely you know that.

[Applewood]

You think Trump is responsible for us having spent a large portion of our children's money before they were even born?

The president does not get to appropriate so much as a penny.  Surely you know that.

But Trump signed off on those spending spree bills.  If he was so concerned about runaway spending, he would have vetoed those bills.

I used Trump as an example because despite Trump supporters' assurances that he would be different from the rest of those spendthrifts in DC -- he isn't.