The Briefing Room
General Category => Economy/Business => Topic started by: libertybele on May 10, 2019, 07:36:13 pm
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Not good. Not good at all.
Here’s how hard the escalating tariff fight will hit the economy
Tariff hike will cost U.S. economy $29 billion by 2020, cost to global economy at $105 billion: Oxford Economics
The escalation of the U.S.-China trade fight — and the threat of further tit-for-tat measures — marks a significant risk to both countries and the world economy, analysts said.
The U.S. early Friday increased tariffs on $200 billion of Chinese goods to 25% from 10% and President Donald Trump threatened to extend levies to other goods from the country in an attempt to ratchet up pressure on Beijing as trade negotiations continue. Beijing has said it would retaliate.
https://www.marketwatch.com/story/heres-the-hit-us-chinese-and-global-economies-could-face-as-trade-battle-heats-up-2019-05-09?mod=MW_home_top_stories (https://www.marketwatch.com/story/heres-the-hit-us-chinese-and-global-economies-could-face-as-trade-battle-heats-up-2019-05-09?mod=MW_home_top_stories)
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More FUD.
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Oh no, this tactic might cost someone some money.
Much better we should continue funding China arms' build up and allowing them to steal our technology.
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Total bull crap. A talking mouth piece spouting crap. We have capitulated to the chicons on trade for over 40 years. We know how that ends and how it costs America in the the long run.
The chicken little crowd and the so called experts are full of the doom and gloom.
I am not buying into it. And neither should anyone else buy this talking heads estimates. This is like the man made global warming hoax, only on an economists tablet.
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Total bull crap. A talking mouth piece spouting crap. We have capitulated to the chicons on trade for over 40 years. We know how that ends and how it costs America in the the long run.
The chicken little crowd and the so called experts are full of the doom and gloom.
I am not buying into it. And neither should anyone else buy this talking heads estimates. This is like the man made global warming hoax, only on an economists tablet.
This crowd's economic happy talk has been burying this nation for 40 years.
A bullish stock market trumps absolutely every other consideration, just as long as they make their's before the butcher bill comes due.
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Related story.....
China to impose tariffs on U.S. goods despite Trump warning
https://www.yahoo.com/finance/news/china-defiant-toward-u-trade-kudlow-urges-strong-003402593--finance.html (https://www.yahoo.com/finance/news/china-defiant-toward-u-trade-kudlow-urges-strong-003402593--finance.html)
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China is raising tariffs on $60 billion of US goods starting June 1
Jacob Pramuk | 13 May 2019
China will raise tariffs on $60 billion in U.S. goods in retaliation for the U.S. decision to hike duties on Chinese goods, the Chinese Finance Ministry said Monday.
Beijing will increase tariffs on more than 5,000 products to as high as 25%. Duties on some other goods will increase to 20%. Those rates will rise from either 10% or 5% previously.
The move follows President Donald Trump’s decision to raise duties on $200 billion in Chinese products to 25% from 10%. The world’s two largest economies have struggled to sign a trade deal and end a widening conflict that threatens to damage the global economy. . . .
https://www.cnbc.com/2019/05/13/china-is-raising-tariffs-on-60-billion-of-us-goods-starting-june-1.html (https://www.cnbc.com/2019/05/13/china-is-raising-tariffs-on-60-billion-of-us-goods-starting-june-1.html)
Gee, if only someone could have predicted that this would happen? If only someone could have remembered what happened the last umpteen times this has been tried. Sadly, we are stuck with a purely Democrat Party mindset that there are no consequences to our actions - a mindset that insists China won't retaliate in any way or fashion when we try to block their goods from being sold in the US. It is no different from the mindset that raising taxes on high wage earners will result in them working more hours to make up the difference.
In the mean time, the American worker gets screwed just as they did when Obama did the same exact thing. The only difference now is that we have people cheering that policy on only because Trump is the one doing it. Bah!
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President Trump’s not in a tariff war with China, he’s engaging in negotiations to equalize the rates. Trump is no longer going to accept the United States being the world’s patsy. In other words, fair trade not free trade.
The U.S. imports over $450 billion a year from China, at unequal rates that favored China for decades. $60 billion is peanuts. Remember that China imports very little from the US. Whereas, we buy a ton of stuff from them.
As for this move on the part of China to raise tariffs, that’s normal. If there were no gestures like this or other breakdowns in talks, it would mean we’re about to be screwed again—just like in the Iranian deal. Iran got everything and we got nothing thanks to Kerry and Obama’s fecklessness. Nothing like that’s gonna happen under President Trump’s watch. That I can tell you.
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China is raising tariffs on $60 billion of US goods starting June 1
Jacob Pramuk | 13 May 2019
China will raise tariffs on $60 billion in U.S. goods in retaliation for the U.S. decision to hike duties on Chinese goods, the Chinese Finance Ministry said Monday.
Beijing will increase tariffs on more than 5,000 products to as high as 25%. Duties on some other goods will increase to 20%. Those rates will rise from either 10% or 5% previously.
The move follows President Donald Trump’s decision to raise duties on $200 billion in Chinese products to 25% from 10%. The world’s two largest economies have struggled to sign a trade deal and end a widening conflict that threatens to damage the global economy. . . .
https://www.cnbc.com/2019/05/13/china-is-raising-tariffs-on-60-billion-of-us-goods-starting-june-1.html (https://www.cnbc.com/2019/05/13/china-is-raising-tariffs-on-60-billion-of-us-goods-starting-june-1.html)
Gee, if only someone could have predicted that this would happen? If only someone could have remembered what happened the last umpteen times this has been tried. Sadly, we are stuck with a purely Democrat Party mindset that there are no consequences to our actions - a mindset that insists China won't retaliate in any way or fashion when we try to block their goods from being sold in the US. It is no different from the mindset that raising taxes on high wage earners will result in them working more hours to make up the difference.
In the mean time, the American worker gets screwed just as they did when Obama did the same exact thing. The only difference now is that we have people cheering that policy on only because Trump is the one doing it. Bah!
This is the one part of Trump's economic agenda I don't like. Tariffs didn't work during the last Bush admin, but somehow the geniuses in the Trump admin believe they'll work now.
If he wants to punish China, there are other ways to do it without hurting American consumers. Even Larry Kudlow admitted the tariffs are hurting American consumers.
Limbaugh, with his lips firmly attached to Trump's rear end, refuses to admit that tariffs are taxes on consumers. You'd better believe if it were Obama enacting the tariffs he'd be squawking bloody murder.
Trump thinks he'll bring China to its knees? That won't happen. Cutting off your nose to spite your face is not the way to punish China.
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This is the one part of Trump's economic agenda I don't like. Tariffs didn't work during the last Bush admin, but somehow the geniuses in the Trump admin believe they'll work now.
If he wants to punish China, there are other ways to do it without hurting American consumers. Even Larry Kudlow admitted the tariffs are hurting American consumers.
Limbaugh, with his lips firmly attached to Trump's rear end, refuses to admit that tariffs are taxes on consumers. You'd better believe if it were Obama enacting the tariffs he'd be squawking bloody murder.
Trump thinks he'll bring China to its knees? That won't happen. Cutting off your nose to spite your face is not the way to punish China.
How is this hurting the American consumer more than say....when how many american jobs have been lost over the years so China could sell cheap shit to stupid Americans?
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President Trump’s not in a tariff war with China....
Where the fuque have you been, for the last year?
Donald J. Trump
@realDonaldTrump
When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win. Example, when we are down $100 billion with a certain country and they get cute, don’t trade anymore-we win big. It’s easy!
4:50 AM · Mar 2, 2018 · Twitter for iPhone
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Where the fuque have you been, for the last year?
Donald J. Trump
@realDonaldTrump
When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win. Example, when we are down $100 billion with a certain country and they get cute, don’t trade anymore-we win big. It’s easy!
4:50 AM · Mar 2, 2018 · Twitter for iPhone
I still shake my head that the reaction to what the Communists do is, for some strange reason, to do what the Communists do.
I'm not that old (probably younger than most here) but I remember that the economic actions of Communists was something you tried to avoid, not something you mimicked.
I guess we are all Chicoms now.
The last President who got into this level of a tariff war was Jimmy Carter, and that resulted in the popularizing of the word 'malaise'.
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I still shake my head that the reaction to what the Communists do is, for some strange reason, to do what the Communists do.
I'm not that old (probably younger than most here) but I remember that the economic actions of Communists was something you tried to avoid, not something you mimicked.
I guess we are all Chicoms now.
What would you do about China's trade policies and intellectual theft @ABX ?
Serious question.
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Rather than a trade/tariff war, this is about cultural values.
We align w/creativity and initiative as drivers of success yet
the Chinese choose to cheat, lie and steal their way to success.
But the sob sisters are in a frenzy it might hit their wallet. How sad.
One stands for principle or one doesn't and the consequences follow!!!
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China’s reneging on agreed tariffs is simply a negotiating tactic. They do it all the time. And Trump is just maneuvering to get a better deal for the United States. That’s not a war—that’s simply common sense self interest. We won’t be taken advantage of any more. Our interests come before global interests.
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Rather than a trade/tariff war, this is about cultural values.
We align w/creativity and initiative as drivers of success yet
the Chinese choose to cheat, lie and steal their way to success.
But the sob sisters are in a frenzy it might hit their wallet. How sad.
One stands for principle or one doesn't and the consequences follow!!!
Are you on the right thread?
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We can manufacture our wares anyplace.
The Chinese cannot find a US consumer market anyplace.
If they dump their T-bills they're shooting themselves in the head, figuratively speaking.
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What would you do about China's trade policies and intellectual theft @ABX ?
Serious question.
Doing what is best for the US economy is more important than punishing China.
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I still shake my head that the reaction to what the Communists do is, for some strange reason, to do what the Communists do.
I'm not that old (probably younger than most here) but I remember that the economic actions of Communists was something you tried to avoid, not something you mimicked.
I guess we are all Chicoms now.
The last President who got into this level of a tariff war was Jimmy Carter, and that resulted in the popularizing of the word 'malaise'.
Ridiculous. Before the income tax the US federal government used to fund itself exclusively with tariffs.
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Doing what is best for the US economy is more important than punishing China.
Indeed. Protecting our IP and our manufacturers from predatory trade practices is definitely best for the US economy. There are many other nations that can stand in for China that won't take our assets and militarily threaten us with them.
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Indeed. Protecting our IP and our manufacturers from predatory trade practices is definitely best for the US economy. There are many other nations that can stand in for China that won't take our assets and militarily threaten us with them.
Job number one right there. China really is our enemy. Has been for years and every adm has allowed them to steal our intellectual property and spy on us.
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Ridiculous. Before the income tax the US federal government used to fund itself exclusively with tariffs.
Today, the federal government is funded exclusively through excise taxes, tariffs, fees, corporate taxes, borrowing and printing new money. Our income taxes go 100% towards a wealth redistribution scheme.
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Indeed. Protecting our IP and our manufacturers from predatory trade practices is definitely best for the US economy.
Having the US consumer pay 25% more than the rest of the world for steel is not good for the US economy.
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Having the US consumer pay 25% more than the rest of the world for steel is not good for the US economy.
Buying US made steel is great for the US economy.
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Doing what is best for the US economy is more important than punishing China.
So, fair trade and securing military secrets from a global enemy is not best for the US economy? Interesting worldview you've got there. :smokin:
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Having the US consumer pay 25% more than the rest of the world for steel is not good for the US economy.
It won't be forever .... and patriots will cope.
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Everything Rush was saying:
http://www.gopbriefingroom.com/index.php/topic,361562.new.html#new (http://www.gopbriefingroom.com/index.php/topic,361562.new.html#new)
It's beyond punishing China like a bad little boy in school, it sounded like it is imperative to do for our future.
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Buying US made steel is great for the US economy.
Not when it costs 25% more. It results in a lower standard of living.
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Everything Rush was saying:
http://www.gopbriefingroom.com/index.php/topic,361562.new.html#new (http://www.gopbriefingroom.com/index.php/topic,361562.new.html#new)
It's beyond punishing China like a bad little boy in school, it sounded like it is imperative to do for our future.
As long as you are honest about your motives. Personally, I think the US economy should come first. Clearly, quite a few Trump zealots disagree.
As for Rush, he blasted Obama when he placed tariffs on Chinese tires. Such a shame to see someone surrender his principles so easily.
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It won't be forever .... and patriots will cope.
Considering that only 1% of our steel comes from China, why was it put in place at all?
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So, fair trade and securing military secrets from a global enemy is not best for the US economy? Interesting worldview you've got there. :smokin:
Zero trade is fair trade. Sucks for the economy though. As for military secrets, not sure how tariffs are going to stop that. Maybe you can explain how that economic feat will work.
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China is raising tariffs on $60 billion of US goods starting June 1
Jacob Pramuk | 13 May 2019
China will raise tariffs on $60 billion in U.S. goods in retaliation for the U.S. decision to hike duties on Chinese goods, the Chinese Finance Ministry said Monday.
Beijing will increase tariffs on more than 5,000 products to as high as 25%. Duties on some other goods will increase to 20%. Those rates will rise from either 10% or 5% previously.
The move follows President Donald Trump’s decision to raise duties on $200 billion in Chinese products to 25% from 10%. The world’s two largest economies have struggled to sign a trade deal and end a widening conflict that threatens to damage the global economy. . . .
https://www.cnbc.com/2019/05/13/china-is-raising-tariffs-on-60-billion-of-us-goods-starting-june-1.html (https://www.cnbc.com/2019/05/13/china-is-raising-tariffs-on-60-billion-of-us-goods-starting-june-1.html)
Gee, if only someone could have predicted that this would happen? If only someone could have remembered what happened the last umpteen times this has been tried. Sadly, we are stuck with a purely Democrat Party mindset that there are no consequences to our actions - a mindset that insists China won't retaliate in any way or fashion when we try to block their goods from being sold in the US. It is no different from the mindset that raising taxes on high wage earners will result in them working more hours to make up the difference.
In the mean time, the American worker gets screwed just as they did when Obama did the same exact thing. The only difference now is that we have people cheering that policy on only because Trump is the one doing it. Bah!
You support Obama ? Ugh! Obamas plan was to harm America, not help us, and President TRUMPS plan is a long term one to HELP AMERICA. If you don't know the difference, you are beyond help.
HERE IS A HELPFUL HINT. DON'T BUY ANY CRAP MADE IN CHINA! DUH...problem solved..and helps America. We can live without China. WWW.MAGAPILL.COM (http://WWW.MAGAPILL.COM)
Gee, the real illegal, illegitimate fake president born in KENYA! Don't tell me you vote skin?
Error 404 (Not Found)!!1 (http://www.youtube.com/watch?time_continue=1&v=q13nwzbyU6Y#)
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Not when it costs 25% more. It results in a lower standard of living.
Lower for most, higher for a few. Come on, man, get on the redistribution of wealth train!
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Oh no, this tactic might cost someone some money.
Much better we should continue funding China arms' build up and allowing them to steal our technology.
I agree...Do people EVER think. they don't HAVE to buy anything? ESP..those items MADE IN CHINA? DON'T BUY! DON'T SHOP. HUNKER DOWN....DON'T SPEND. Such an easy solution, and some act like the sky is falling.
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You support Obama ?
Uh, no. Keep in mind that I am not the one here supporting Obama's policy of raising tariffs on China.
Error 404 (Not Found)!!1 (http://www.youtube.com/watch?v=xewnzqvwk5o#)
Results: $1.1 billion in higher costs to US consumers resulting in direct loss of 4,000 retail jobs, plus loss of $1 billion in sales due to retaliatory tariffs.
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Arguing something silly. DON'T BUY ANYTHING MADE IN CHINA. So easy. If the price is too high for you, DON'T BUY IT!
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I agree...Do people EVER think. they don't HAVE to buy anything? ESP..those items MADE IN CHINA? DON'T BUY! DON'T SHOP. HUNKER DOWN....DON'T SPEND. Such an easy solution, and some act like the sky is falling.
Where was the keyboard you are typing on right now made? The cell phone you communicate with? The shoes that you wear?
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Not when it costs 25% more. It results in a lower standard of living.
Horse hockey.
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Horse hockey.
Let's say you have a monthly consumer budget of $1,000 Which you use to purchase a list of goods costing $1,000. But next month, steel prices increase because of tariffs which means that your list now costs $1.050. But you only have $1,000. So there is $50 worth of merchandise that you can no longer afford. Hence your standard of living just decreased since you can no longer buy everything you had purchased the month before.
Even a fifth grader could figure that one out.
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Where was the keyboard you are typing on right now made? The cell phone you communicate with? The shoes that you wear?
And why exactly are those things currently being made where they are?
All things being equal, tariffs suck! In the case of our current trade with China, all things are FAR from equal!
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President Trump’s not in a tariff war with China, he’s engaging in negotiations to equalize the rates. Trump is no longer going to accept the United States being the world’s patsy. In other words, fair trade not free trade.
The U.S. imports over $450 billion a year from China, at unequal rates that favored China for decades. $60 billion is peanuts. Remember that China imports very little from the US. Whereas, we buy a ton of stuff from them.
As for this move on the part of China to raise tariffs, that’s normal. If there were no gestures like this or other breakdowns in talks, it would mean we’re about to be screwed again—just like in the Iranian deal. Iran got everything and we got nothing thanks to Kerry and Obama’s fecklessness. Nothing like that’s gonna happen under President Trump’s watch. That I can tell you.
NONE of the LEFTS understand do they? No one has made trade deals like president TRUMP before. Someone mentioned BUSH. GIVE ME BOTH SIDES OF THAT DEAL. President has talked about these bad trade deals for decades. So, America has to be inconvenienced a bit, and boy do they squeal...spoiled kids.
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Let's say you have a monthly consumer budget of $1,000 Which you use to purchase a list of goods costing $1,000. But next month, steel prices increase because of tariffs which means that your list now costs $1.050. But you only have $1,000. So there is $50 worth of merchandise that you can no longer afford. Hence your standard of living just decreased since you can no longer buy everything you had purchased the month before.
Even a fifth grader could figure that one out.
lol. ONLY a fifth grader would post that! Do you not understand choices? Having a different plan? NOT BUYING AN ITEM IF IT COSTS TOO MUCH? Ever hear of making it yourself, make do, or do without! Oh my gosh. Prices change daily! How about your car insurance? Electricity use? Gasoline prices? I DO live on 1,000 a month! Give me a break!
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Equating Obama and Trump on China may not be an apt comparison, that might be like saying Trump and Obama cut taxes. What does that mean? The situation may not give itself to such simplistic analysis.
OTOH, one can say China has slave labor, China has corruption and so on.
I know Rush was saying China always signs agreements but usually, does not follow through on them, they break promises.
Anyway, no president does every single thing we like. Trump has done some very good things... so if one didn't vote for him, maybe your involvement on that is limited.
So, yes, we will pay higher for some products, dog collars? Oh, the humanity.
http://www.gopbriefingroom.com/index.php/topic,361563.0.html (http://www.gopbriefingroom.com/index.php/topic,361563.0.html)
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NONE of the LEFTS understand do they? No one has made trade deals like president TRUMP before. Someone mentioned BUSH. GIVE ME BOTH SIDES OF THAT DEAL. President has talked about these bad trade deals for decades. So, America has to be inconvenienced a bit, and boy do they squeal...spoiled kids.
I listen to interviews with Trump from the 1980s on, and he consistently said the same things then that he is saying today as president. I agreed with him then and I agree with him now.
From my perspective, he’s always had the United States’ best interests at heart.
So given the consistency of his message, as president he has earned my trust.
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I listen to interviews with Trump from the 1980s on, and he consistently said the same things then that he is saying today as president. I agreed with him then and I agree with him now.
From my perspective, he’s always had the United States’ best interests at heart.
So given the consistency of his message, as president he has earned my trust.
Well said. :thumbsup:
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I listen to interviews with Trump from the 1980s on, and he consistently said the same things then that he is saying today as president. I agreed with him then and I agree with him now.
From my perspective, he’s always had the United States’ best interests at heart.
So given the consistency of his message, as president he has earned my trust.
You mean like the times when he said the Reagan tax cuts were the worst thing ever for the economy? How about when he said Reagan was a con man, who couldn’t deliver the goods? What about serving as an expert witness for a Democratic congressional committee panel? How about later, when he said he was ‘very pro choice?’ Did you agree with him when he said the economy performed better under Democrats and later became one, himself?
FFS....
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lol. ONLY a fifth grader would post that! Do you not understand choices? Having a different plan? NOT BUYING AN ITEM IF IT COSTS TOO MUCH? Ever hear of making it yourself, make do, or do without! Oh my gosh. Prices change daily! How about your car insurance? Electricity use? Gasoline prices? I DO live on 1,000 a month! Give me a break!
I see that economics is not your strong suit. If you have to pay more for the same good, then that leaves you less money to purchase everything else.
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Anybody read the link on this thread?
The graph below clearly shows China suffers far worse than the US. It is them that takes it on the chin, and gets far worse the longer it drags on.
(https://ei.marketwatch.com/Multimedia/2019/05/09/Photos/NS/MW-HJ297_tariff_20190509174502_NS.png?uuid=b344e9fe-72a3-11e9-b94e-9c8e992d421e)
If this is high stakes poker, China is betting on a losing hand.
The Chicoms will end this war, and end it quickly.
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Anybody read the link on this thread?
The graph below clearly shows China suffers far worse than the US.
The graph below clearly shows that the US suffers. I really don't give a damn what it does to China. Envy is for Democrats.
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If this is high stakes poker, China is betting on a losing hand.
The Chicoms will end this war, and end it quickly.
You’re forgetting a couple of things. First, the Chicoms are an authoritarian state who can control the information and blame their internal woes on us. Also, the graph showed the overall effect on the world economy. It doesn’t seem realistic to think everyone else will be fine getting sprayed by this pissing contest, just because China is getting soaked more.
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How is this hurting the American consumer more than say....when how many american jobs have been lost over the years so China could sell cheap shit to stupid Americans?
More jobs are going to be lost due to Automation
Should we stop that as well?
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The graph below clearly shows that the US suffers. I really don't give a damn what it does to China. Envy is for Democrats.
Then you have never played poker.
This is about winning the hand over a weaker opponent.
We can see his losing hand already.
To win, you must throw some chips onto the table.
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Then you have never played poker.
This is about winning the hand over a weaker opponent.
We can see his losing hand already.
To win, you must throw some chips onto the table.
Yes, that’s the correct analogy. Poker.
Just a wild guess, Trump knows a little bit about that game.
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More jobs are going to be lost due to Automation
Should we stop that as well?
Bite your tongue, Luddite. I work in automation. Are you trying to put me out of a job?
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Then you have never played poker.
This is about winning the hand over a weaker opponent.
We can see his losing hand already.
To win, you must throw some chips onto the table.
So basically, Trump is bluffing hoping that China will fold.
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Yes, that’s the correct analogy. Poker.
Just a wild guess, Trump knows a little bit about that game.
you must know how to strategize, as one does in the analogy of poker.
Correctly playing poker is not about luck. It is about risk assessments based on your hand and what seems to be in the opponent's hand.
One must undertake risk in order to play
If no risk, you cannot play.
Politics is strategized the same way.
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If we want to reset the China/US/Global trade situation, there will be some pain. We all need to grow up and understand that.
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If we want to reset the China/US/Global trade situation, there will be some pain. We all need to grow up and understand that.
That does not include accepting lies like ‘China is paying’ the tariffs. It also doesn’t include changing the rules, meaning that taxpayer bailouts and tariff funded purchases of crops used for humanitarian aid is really commerce.
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So basically, Trump is bluffing hoping that China will fold.
"Trump playing "a game of chicken" on China trade, economists say
While Trump will “100 percent see how far he can take it,†one of the only ways he keeps his seat in the next election is if the economy is doing really well, global trade analysts point out."
https://www.nbcnews.com/business/economy/trump-playing-game-chicken-china-trade-economists-say-n1005421 (https://www.nbcnews.com/business/economy/trump-playing-game-chicken-china-trade-economists-say-n1005421)
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That does not include accepting lies like ‘China is paying’ the tariffs. It also doesn’t include changing the rules, meaning that taxpayer bailouts and tariff funded purchases of crops used for humanitarian aid is really commerce.
It doesn't matter how you parse what he says; it matters whether it works or not.
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Interesting how years ago, Dr. Ron Paul, spoke of the trade imbalance...he then went on to say; "True free trade does not require treaties or agreements between governments. On the contrary, true free trade occurs in the absence of government intervention in the free flow of goods across borders. Organization like the WTO and NAFTA represent government-managed trade schemes, not free trade....Government-managed trade is inherently political, meaning that politicians and bureaucrats determine who wins and loses in the market place...."
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It doesn't matter how you parse what he says; it matters whether it works or not.
Keynesian economics under the last admin ‘worked,’ because artificially low interest rates and printing money kept certain sectors flowing. It’s still a lie. When did pointing out a blatant inaccuracy become ‘parsing’....?
FFS. *****rollingeyes*****
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Keynesian economics under the last admin ‘worked,’ because artificially low interest rates and printing money kept certain sectors flowing. It’s still a lie. When did pointing out a blatant inaccuracy become ‘parsing’....?
FFS. *****rollingeyes*****
Well... Keynesian economics was not practiced during the last administration. If it had been, government spending would have been reduced when consumer demand increased.
Keynes did NOT advocate constant government stimulus. He did advocate using the timing of government spending to compensate for the cyclical nature of consumer demand. When you consider that the fed gov't was a tiny portion of GNP in his day, and that economists were obsessed with "aggregate demand" as the be all end all for the "problem" of the business cycle, his theory was pretty reasonable. Pretty reasonable, but impractical as the business cycle moves faster than economic data can be collected and processed and then acted upon by Congress (who will also use any spending increase yesterday to argue against spending reductions today).
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That does not include accepting lies like ‘China is paying’ the tariffs.
Word.