Trump Does his Awesome New Tariffs. Winning!!

I think it’s an average and includes market losses which are heavily skewed towards the top 1%. So you may not feel that but it potentially represents the full effects of the tariffs on a per family basis.

 

I was just added to another signal chat, and I got a preview to the next round of retaliating tariffs Donald is going to announce on Monday.

We really need to get back at Westeros for that season 8 of Game of Thrones.

 

For a pure investing prospective, I'm honestly okay with the correction. I'm 41 so realistically I have at least 25 years before I retire (will probably not take Social Security until 68 - 70, if it's even around at that point), so I have plenty of time. I am looking at this as a buying opportunity with stocks on sale. Bought more SCHD, FNILX, VTI, XOM and DLTR. Might buy some more SCHD and ITOT on Monday if the market continues to go down.

The people I feel for I would say are the 58 - 65 crowd. The population that was either just about to retire or are close enough to retirement to really start preparing for it. They have less time to recover, but on the other hand, they should have been in more conservative positions anyway. But I know this correction has hit everyone's 401(k). Mine is down just over $15,000 since Wednesday. My investment account, which is smaller, is down around $5,000 since Wednesday. Definitely a gut punch, but I'm trying to play the long game.

Regarding tariffs, I support Trump but don't support the extent to which he is using tariffs. I thought the tariffs would be more targeted and not as extreme. I hope it is short term and is just used for leverage. But you have to admit, if tariffs weren't effective, then why does almost every other country in the world have them? If tariffs weren't effective, how come most countries, including our "friend" Canada, already have tariffs on us when we previously did not have tariffs on them?

The fact the Canadians are screaming bloody murder over Trump, shows me that Canada was used to getting the upper hand against the U.S., and we didn't even realize it. Not just the tariffs, but the fact that Canada essentially had the U.S. military and U.S. intelligence at their disposal. To me Canadians are coming off as the type of "friend" who only wants to hang out when you are paying for the drinks. The type of "friend" who won't be there if your car break down at 1:00 a.m. in the morning and you need transportation home after your car is towed to the shop. Typically "friends" who know they are taking advantage of someone else cry bloody murder when the friends actually wants a more even friendship. To me Canada has shown they were never truly our friends, just friends for convenience. So while I don't fully agree with the tariffs Trump has put in place, I have no sympathy for Canadians. F*ck em, they were bad "friends" and we're better off without them.

 

Don't get me wrong, I've enjoyed Canada the two times I've gone. Visited Victoria in 2014 and then Montreal and Quebec City in 2019. Have not been to Toronto, Vancouver or Ontario yet. Montreal and Quebec City in particular I enjoyed as both cities truly have more of a European feel to them. Most European type cities in North America. Victoria was so beautiful as well, it's just naturally beautiful in that area of North America, but it definitely felt North American.

But with all that said, why is it okay for Canada to have tariffs on our goods and it's not okay for us to have tariffs on Canadian goods? What about the over 200% tariffs Canada imposes on U.S. dairy? So please answer, why is one side allowed to enact tariffs but not the other.

 

You are complete fool to be buying those stock right now. The rock bottom of the stock market is about 5-6 months away. That's when you need to buy, lol.
You remind me of my trumpy brother who just invested a boatload into Tesla the other day at $265 and now it's already down to $239. He said "buy low and sell high." I said, "you dumb son-of-a-b, the bottom is at least 6 months away."

 

I completely understand that it may go down even more in the short term. If it does I'll buy some more and dollar cost average down. But I don't think the bottom is 6 months away. I would say more 2 - 3 months away. Some countries have already made deals with the U.S. regarding the tariffs. Again it's a long play, I'm not expecting to make significant money in these soon, but they will recover and probably even go higher than they were 2 - 3 months ago. Why do you think it's at least 6 months before the bottom?

 

The only people who actually believe there is a cult is the looney left

 

driving right over the guardrails Toonces style

 

Another unintended consequence of Trump's tariffs keeping in mind that commercial airliners are a US export and that Boeing also sources components for its airliners from abroad.


Tariffs will drive up the cost of airplanes, the United States' star export

• Tariffs would drive up costs of key aerospace parts, making it more expensive for Boeing and even foreign companies with U.S. factories to produce planes.
• The tariffs are set to hit an aerospace supply chain still in recovery from the Covid-19 pandemic.
• The duties would also upend nearly half a century of mostly duty-free aerospace trade.

 

Pardon me, but there’s already a thread on cult following and looney behavior:
Lara Loomer is now making Foreign policy staffing decisions

 

As a reminder, there is a free trade agreement with Canada negotiated by...Donald Trump. The average tariffs charged by Canada on US products were 1.83%, which is lower than the existing US average tariffs on Canadian goods of 2.72%.

 

People are starting to protest Trump. Not sure how Trump's fragile ego is going to handle that.

Reminds me of the Vietnam War protests, but at accelerated speed. Now, it is generally recognized that the Vietnam War was a bad idea, but back then, few disagreed with it until large numbers of body bags started coming home. Trump's policies are easier to see as disastrous.

We went to the anti-Trump protests. Here's what surprised us the most.

 

Nike is not likely to shift production to the U.S. because the additional costs would be higher than the tariffs. I think that will be true of any company in the clothing industry. The U.S. decided decades ago that it did not want to be in the textiles and clothing industry because it was too people-intensive. We gladly let those jobs go to other countries, like Mexico, China, and Vietnam. It would be incredibly stupid of Trump to try to force these industries back into the U.S. Prepare to pay 40% more for your sneakers. It's hard to imagine paying $300 or more for a pair of bottom-of-the-line running shoes, but apparently, it's about to happen.

Peter Schiff Says Nike 'Won't Build Factories' In US, They Will Sell To Countries Like China: A Much Better Strategy Amid Trump Tariffs

 

China dumps U.S. soybean producers because of tariffs.

Soybean Prices Tank on China’s Retaliatory Tariff. Beijing Already Has Shifted Suppliers.

 

What makes you say it’s 6 months away? The problem with planning anything when Trump is in charge is that there is no forward thinking or critical thinking by him, and he just says and does whether first pops on his mind. And he is now by design completely surrounded by sycophants and yes men that there is no analysis or pushback.

His tariffs might be yanked again very quickly—and I think his past behavior forecasts this. His whiplash economic and foreign policy simply leads to no reliable planning or prediction.

 

I am absolutely stunned at the lack of outrage and pushback on this one.

 

Your poor planning is on you. Sorry you don’t like that my wife and I saved rather than go on expensive vacations, bought boats, don’t have 2 houses or cars, and cook at home rather than go out. I’ll never be ashamed of how we set ourselves up. We started from scratch and earned every penny we have.

Have a nice day.