Tariffs in the second Trump Administration [SPLIT]

[rareboy]

 

[johaninsc]

 

[rareboy]

Well at least some senators finally told the emperor he has no clothes and that his whole tariffs because of fentanyl schtick is just bullshit.

It amazes me that while he was crashing the economy and bullshitting about 'Liberation Day' as he left dead horse head in the bed of almost every country that trades (or doesn't) with the US, he still parades this lie around so brazenly. Also just a reminder...these billions of dollars of additional taxes on US consumers is still all supposedly over less than 44 pounds of fentanyl that was apprehended by US border control.

The guy is fucking mental.

 

[KaraBulut]

Halfway through the market day...

 

[rareboy]

And of course, the billionaires...sitting on piles of capital and available cash are waiting to pounce when they think the market is at bottom.

At the moment, it would be interesting to know how much the insiders shorted markets preparing for APril 2nd. They were certainly given plenty of time to game it all out.

This is literally how they will become trillionaires...at least on paper. Counting on no interruption to their income.

The tipping point will be when something 'too big to fail' suddenly crashes taking all the Main Street money and this will likely trigger a real crash in the financial industry.

 

[rareboy]

SOOOOOOOOOOOOOOOOOOO slowly...the MSM seem to be coming to terms with the real intent of traiffs...but so many sources still won't call it out for what it is.

A calculated shift of taxes from income on corporations and the wealthy to consumers in order to fund the tax cuts. But disguised as some sort of righteous retribution.

Again...no wonder the legacy media like CNN has failed the US.

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www.cnn.com

 

[Norri]

SOOOOOOOOOOOOOOOOOOO slowly...the MSM seem to be coming to terms with the real intent of traiffs...but so many sources still won't call it out for what it is.

A calculated shift of taxes from income on corporations and the wealthy to consumers in order to fund the tax cuts. But disguised as some sort of righteous retribution.

Again...no wonder the legacy media like CNN has failed the US.

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www.cnn.com

The strategy you describe might be very good for the super wealthy but it’s not an election winning strategy nor is it good for an economy driven by consumer spending. Who would even invest in the economy you describe, it’s a high price low growth model common in many underdeveloped countries which see little foreign investment.

This isn’t good for the wealthy either, the best thing I can say about them is that they will avoid real pain but Trump won largely because voters believed he was a good custodian of the economy and then he does this……what a moron.

 

[rareboy]

It totally relies on the consumers being compliant and a very few big conglomerates making their profits off of micro-dollars. Like literally billions of people spending on 'essentials' that produce small profit margins for few owners.

That is what they are shooting for.

Meta.

Amazon.

Media companies.

Tech giants.

The 6 food conglomerates that control almost all the world's processed food supply.

The few conglomerates that control all the agricultural input supplies.

The current fabricated recession will give the few at the very top of these the opportunity to consolidate individual control over the shares and control of markets.

They foresee a world where AI makes all of us basically redundant and where we are all demoted to running fruit stalls. Or being Tik Tok and Only fans stars.

This is a massive transition from 'Our work is our worth' to an age where maybe less than a 1000 individuals scrape off pennies on every transaction to keep living like they are on a different planet than we are.

And where at least one of them strips the entire earth of resources to make his fantasy of his purchased IVF progeny to be the ones to colonize Mars and leave the earthlings to post apocalyptic misery.

 

[KaraBulut]

Winning!

 

[rareboy]

And we thought tariffing penguins was the most fucked up thing about all of this?

 

[rareboy]

Let's not overlook this. The GQP are totally on board to shift the tax burden to comsumption from income tax. IT IS WHAT THEY ARE BEING PAID by their owners to do.

 

[Norri]

It totally relies on the consumers being compliant and a very few big conglomerates making their profits off of micro-dollars. Like literally billions of people spending on 'essentials' that produce small profit margins for few owners.

No business would purposely choose to survive on small margins. You mention 6 food companies that control the world’s food supply those 6 companies don’t have small margins they grew big and strong so they could control their markets and increase profit margins. No business wants its customers to be poor because that’s not how you make money. What you describe is Russia circa 1950-1980.

And I wouldn’t count on Americans being compliant they bitched about prices under Biden and they will under Trump.

 

[rareboy]

No business would purposely choose to survive on small margins. You mention 6 food companies that control the world’s food supply those 6 companies don’t have small margins they grew big and strong so they could control their markets and increase profit margins. No business wants its customers to be poor because that’s not how you make money. What you describe is Russia circa 1950-1980.

And I wouldn’t count on Americans being compliant they bitched about prices under Biden and they will under Trump.

Not true.

As long as fewer and fewer individuals own these companies, they need fewer and fewer investors and therefore, customers.

Shaving pennies can get fewer investors as big of a return as lots of pennies on a broader distribution.

This is exactly the economic theory that made so many Asians millionaires and billionaires.

 

[rareboy]

 

[johaninsc]

 

[KaraBulut]

Oh, look who just entered the chat.



And MAGA doesn't like it. Avoid crowds and ropes, Mike.

MAGA Rages at Mike Pence for Torching Trump’s Tariffs as ‘Largest Peacetime Tax Hike in History’

Lawmakers, officials, and influencers joined in the pile-on.

www.thedailybeast.com

In response to criticism, Commerce Secretary Howard Lutnick—who over the past few months has reportedly been pushing Trump to impose more and more aggressive tariffs, even as the likelihood of recession grows—accused Pence of being “bitter.”

“These tariffs are the definition of America First, which is a concept he doesn’t understand,” Lutnick wrote in a post on X.

Republican Sen. Bernie Moreno of Ohio told CNN’s Kaitlan Collins that “career politicians” like Pence “were part of the problem” and “did nothing for decades while our industrial sector was gutted.”

 

[rareboy]

China does many things.

It does not 'panic'.

This is projection. And props up this incredibly simplistic notion that TrumpCo. were fully counting on the rest of the world to not react to their punitive tariffs.

So not only does the US consumer end up paying over 30% more for everything from China, China will only return to the strategy they took during Trump's first term
They will shut out US farmers and likely focus again on South America and Canada sources for agricultural products.

TrumpCo. may also be counting on China to contimue to buy its debt. But here's an interesting fact. In 2011, China held almost $1.2 trillion in US bonds. By 2025, it is less than $800 billion.
When you account for inflation it shows that China significantly decreased holdings as its own position strengthened.

As one of the largest holders of US debt, imagine the real damage it could do by dumping even more holdings without other countries buying it up.

 

[rareboy]

As Mark Cuban points out there are 32m small businesses in the USA:

 

[rareboy]

And pretty much an admission that Trump really doesn't care if small businesses collapse in the US. They can't personally enrich him.

It is also a clear admission that he personally has no fucking idea of how an economy actually works.

Once again, corporate America is going to have to re-learn the lesson that the economy is based on consumer spending. Consumers don't need billionaires.

Billionaires need consumers.

 

[rareboy]

As reality sinks in...more people are commenting on how bizarre it is that the president can just decide to put a huge tax on American businesses
without congress even being a little bit involved.

And by 'bizarre', they mean unconstitutional.

The Senate took aim at the tariffs on Canada this week, but largely it has just been crickets with the April 2nd announcements.