Trump Does his Awesome New Tariffs. Winning!!

Paul Krugman pays Trump a compliment: Trump is stupid, erratic, and weak. Wall Street was afraid he might insult Trump after a disastrous week by the former reality show clown.

Paul Krugman: 'Trump Is Stupid, Erratic and Weak'

 

Is that similar to an escape goat?

 

" Mad King Donald" good times

 

US Dollar Sinks As Trump says tariff policy is 'doing really well': Live Updates
What to know:

• The S&P 500 slipped 0.5%, the Dow fell 223 points (0.6%), and the Nasdaq dropped 0.6%.
• Consumer sentiment for April came in worse than expected, and inflation expectations hit their highest mark since 1981.
• Thursday saw major losses across markets, reversing a historic surge on Wednesday after Trump announced a temporary 90-day pause on some tariffs.
• Earlier in the week, the S&P 500 jumped 9.52%, its third-largest single-day gain since World War II.
• The CBOE Volatility Index (VIX) spiked above 50 this week, last seen around 44.
• The U.S. now imposes a 10% tariff on most imports, 25% on some North American goods, and 145% on Chinese products and China retaliated Friday by hiking its own tariffs on U.S. goods to 125%.

 

So the White House claimed that this will result in trillions of dollars in revenue. It should be noted that the Trump folks broke the system to collect tariffs and have just stopped collecting them.

Trump tariff collection for freight shipments delayed by Customs 'glitch'

 

Folks why are we talking about trade and bringing jobs back? The reason for the tariffs is to battle the fentanyl crisis

 

or is it to teach Taylor Swift a lesson?

 

Good thing he doesn’t have dragons,,,

 

Heard consumer sentiment is the 2nd lowest in history, only second to the height of the great recession.

 

What does any of that have to do with fentanyl?

 

Has he been able to negotiate with penguin island yet or are they playing hard ball with him too?

 

Don’t let them fool you, those are some tough little birds.

 

Have you seen Linda McMahon lately?

 

Trump probably figures they make and still fentanyl. How else can the penguins afford to be so well dressed in their tuxedos?

 

An interesting article on what the upcoming U.S. - China trade war will do to the world economy. Long story short--it's not good. And as the primary beneficiary of the global economy, the U.S. would be hurt the most by Hoover, Jr.'s policies. Trade between the two countries was just below $0.6 trillion a year before the foolish tariff war.

China is dependent on the U.S. for soybeans (for its pigs--this is the biggest category of imports from the U.S.), pharmaceuticals (which it can probably get from Europe), and oil (which it can get from Russia and the Middle East).

The U.S. is dependent on China for smartphones (the biggest category), computers, electronics, batteries (including those for EV's), and toys.

China dodged Trump's tariffs in 2018 on solar panels by moving some of its production to Vietnam, Malaysia, Thailand and Cambodia.

China Just Shut Down the U.S. Trade Route--Now What?

 

But, but, but he has a degree from the prestigious Wharton School of Finance and Commerce…He studied economics..no, wait…after doing “my research,” he actually went to the Warts On School for Finding-Ass and Con-men, flunking ECON 101 while maintaining a zero point zero GPA. Now it all makes sense!

 

What would that chicom liberal dei hire know about economics? Did i get that right?

 

Another interesting article on WHY Trump decided to dump the tariffs. The bond market was spooked, and was in serious danger of collapsing the economy. Trump basically was forced to drop the tariffs.

Maybe one of our actual economics experts can explain this to us (not you, Trumpers--grownups only).

Inside the bond market’s $800 billion ‘murder mystery.’ Here’s why the basis trade could be a time bomb—and what the Fed can do to stop it