Washing machines/dryers prices up 17% under Trump (thank you, tariffs)

[Picaro]

People flood the fields that they hear have good potential. Then those fields are oversupplied, and people are left out.



Because there are not enough good jobs. Why did phlebotomy fill up? Lord knows it can't be that great.

Which is why people need to get an education in fields of demand. Today few want to get an education in fields that also require physical work. Work like construction, HVAC, plumbing, electrician. They want to go to school, come out and get a job sitting behind a desk.

It's the same thing when I attended electronics school back in the early 80's. It's very difficult and all math, but regardless of the cost and complexity, the jobs didn't pay squat. Why? Because everybody and their mother was interested in electronics.

We are only worth as much as our employer can pay somebody else to do the same job and same quality of work. That's how wages are determined. It works fine and dandy until you throw a monkey wrench into the system like foreigners or unions. But outside of that, the supply and demand system is the best for employment.

If the overall pie is shrinking, then you are competing in a game that is going to have a lot of losers, no matter what.


You are conflating individual strategies for success, with good policies.


Telling an individual to go into a field that is in demand, is good advice.


It does not help the population as a whole, if the job market sucks ass.

I think the job market is fine, it's just that as a nation, we've become cheap.

Both my niece and nephew graduated college with massive debts. My nephew earned a Master and is doing fine. He works at a school for troubled children. My niece? Not so well. She graduated with a biology degree hoping to get into medical laboratory work. She's been a waitress for the last seven years. She even moved to Florida because they have better opportunities for the work she's trying to get. No luck yet.

I'm not much of a college guy, so when I decided to make a move from general labor, I chose truck driving. Why? Because even in the worst of times, somebody is always looking for an accomplished driver. I didn't want to be one of those guys on the news being interviewed saying somebody should create a job for something I knew how to do. I always wanted to be in demand.

If not for my medical problems, I would be doing much better today financially, but the point I'm making is that I chose a career that was always in demand. Anybody else can do the same. Currently we need over 30,000 new drivers that industry can't find. If you play your cards right, you can make some pretty good money driving a tractor-trailer.

My employer told us repeatedly, if we ever decide to unionize, he's closing the company. That's what unions have done to tens of millions of people.

I'm glad you think your crystal ball is so accurate that you know what would have happened without unions. Have unions done some good in the past? I believe so. I'm willing to admit that. But you refuse to admit the harm they brought us.

In my line of work and personal experience with unions, I could write a book on the subject. If I went to a company I knew nothing about, I could tell you within ten minutes if they were union or not simply by how the employees worked. It's not a special talent, anybody could do it. Union employees were substandard to non-union employees every time it's compared. It's one of the reasons my employer quit accepting deliveries to UAW plants. There were times I was there for half the day trying to get unloaded; something a non-union crew could have done in a half-hour.

Believe your stupidity, I would work you under the table and have health benefits to boot. Your a tool, of course your company would close they want to pay you far less in wages and benies and that's exactly what they are doing. Stay stupid and without health insurance.

Actually in our business, most don't include healthcare benefits since the big-eared creep ruined our country. Prior to that, they had no choice.

But you have to play the cards you are handed in life. The only reason my employer would close down is because he wouldn't be able to compete with non-union companies. Union companies can't compete against non-union companies because non-union operations can produce products or services at a lower price.

The best we can do now is never allow Democrats to have leadership again so they don't screw things up even more for the working people.

Funny Teamsters have health benies and pensions.

I'm a Teamster and have no pension. Care to reevaluate your blanket statement?

2 Teamster locals within 20 miles here and they all have health benies and pensions.

I have mixed opinions about unions. Some are good, and well- managed, and not run by stupid radicals or crooks, many are. On the other hand, I have little sympathy for the idiot right wing propaganda about them, either. As an example, go find all those lower wholesale meat prices we were supposed to dance in the streets over when Saint Ronald Of Reagan okayed the busloads of Mexican scabs to go bust the Hormel packer strikes. Wages dropped over third, prices climbed, and continued to climb to this day. So much for 'cost savings' being passed on, as these liars and idiots keep trying to claim.

Wages are still at sweatshop rates to this day in the meatpacking industry, by the way.

 

[Andylusion]

The tariffs are a small fraction of Trump's booming economy.

In what way is it booming? 2.2% first quarter growth isn’t booming to me. Stocks are down. Wages stagnant. Labor force participation low...

Stocks are not a direct reflection of the economy. I remember when the Asian markets crashed in the late 90s, and our stock market had a dive, only because the Asian market dived.... but our economy kept going just fine, and eventually (quickly) the stock market recovered.

A stock can take a dive, even if the company is doing perfectly fine. A stock value can go up and down, even if my sales as a company are completely stable.

That said, you are correct that the stocks have slipped a bit, and that's ok to me. It just means stocks are on sale. I love it when the stock market goes down. Nothing better than to get AAA grade stocks, for a discounted price.

But we do have to ask why. And the answer is the trade war. It does matter and I agree Trump needs to abandon his protectionism.

The irony here, is that just 5 years ago, it was the left wingers who were the biggest protectionist ideology. The only reason left-wingers are against protectionism now, is because Trump is for it, and no matter what Trump is for or against, the left-wing mindlessly runs to the opposite position. M13 are really good people..... Only Trump can get an entire ideological group to support violent gangs.

As for wages being stagnant.... they always were. People were complaining about stagnant wages, in 1994 under Bill Clinton.

Let give you a hint.... sucking air for 365 days, doesn't mean your wages should go up for no reason. The value of the work you do, does not magically increase, because the Earth circled around the sun.

If you want to earn more money, you need to learn to do something that has a higher value. "existing" is not something that increases value.

 

[Picaro]

lol everybody's lazy and worthless, except of course for the tiny handful of 'high productivity types' on innernetz message boards who peddle Forbes mag propaganda and business school press releases.

Hey, thank you dozen or so biz geniuses for single-handedly keep the world economy afloat depite all that 'hard work' you're doing here, and for not immigrating to the business Paradise of Red China, cuz we all know you would be zillions of times more valuable to them.

In other news, nobody can tel us who is supposed to buy all the crap when 99.99% of the planet makes this 3 cents an hour the geniuses all think we should be making. I guess the customers just appear magically n stuff, like they do in all right wing economic theories and ideologies.

 

[Brain357]

The tariffs are a small fraction of Trump's booming economy.

In what way is it booming? 2.2% first quarter growth isn’t booming to me. Stocks are down. Wages stagnant. Labor force participation low...

Stocks are not a direct reflection of the economy. I remember when the Asian markets crashed in the late 90s, and our stock market had a dive, only because the Asian market dived.... but our economy kept going just fine, and eventually (quickly) the stock market recovered.

A stock can take a dive, even if the company is doing perfectly fine. A stock value can go up and down, even if my sales as a company are completely stable.

That said, you are correct that the stocks have slipped a bit, and that's ok to me. It just means stocks are on sale. I love it when the stock market goes down. Nothing better than to get AAA grade stocks, for a discounted price.

But we do have to ask why. And the answer is the trade war. It does matter and I agree Trump needs to abandon his protectionism.

The irony here, is that just 5 years ago, it was the left wingers who were the biggest protectionist ideology. The only reason left-wingers are against protectionism now, is because Trump is for it, and no matter what Trump is for or against, the left-wing mindlessly runs to the opposite position. M13 are really good people..... Only Trump can get an entire ideological group to support violent gangs.

As for wages being stagnant.... they always were. People were complaining about stagnant wages, in 1994 under Bill Clinton.

Let give you a hint.... sucking air for 365 days, doesn't mean your wages should go up for no reason. The value of the work you do, does not magically increase, because the Earth circled around the sun.

If you want to earn more money, you need to learn to do something that has a higher value. "existing" is not something that increases value.

Relative to other times, wages are stagnant. And that is why economic growth is so slow. Too much inequality and stagnant wages.

 

[Brain357]

Less robots used with lots of really cheap labor.

What's your answer? Do we give up on the very idea of improving things for the working poor and Middle Class?

No, but you don't do something we know doesn't work. Bush just tried steel tariffs, we lost jobs. If you care about the middle class you should wonder how this happened:
CEOs make $15.6 million on average—here’s how much their pay has increased compared to yours
According to a report from the Economic Policy Institute, the average CEO pay is 271 times the nearly $58,000 annual average pay of the typical American worker.

Although the 271:1 ratio is high, it's still not as high as in previous years. In 2015, CEOs made 286 times the salary of a typical worker and 299 times more in 2014. Compare that to 1978, when CEO earnings were roughly 30 times the typical worker's salary.

And how about that war on Unions? Have you noticed with their decline, so goes the middle class?
Middle-Class Decline Mirrors The Fall Of Unions In One Chart | HuffPost

Unions, taxes and regulations are what chased jobs out of the country in the first place. Left to unions, they would chase out the rest.

You and I own widget factories. We are competitors. You sell more widgets than I do, so I want to hire a CEO that will change all that. The CEO wanted you to pay him 5 mil a year, but you refused and gave the money to your labor. I decide to pay that CEO the five mil, and in a couple of years, I get 50% of your customers because of his skill, connections, and experience.

That's how it works in business. Not just business, but in sports and entertainment as well. You are paid by your past performances, and the highest bidder gets your services.

Why are you so sure Ray? Trump got rid of regulations, I don't see any increase in wages. Trump gave a huge decrease in taxes, I don't see any increase in wages. Unions have been in declines for years, where are the increased wages? You have been had ray.

You mean the corporate board is loaded with other CEOs who want raises. So of course they all vote to give themselves raises. It is a racket.
CEO Pay and Performance Often Don’t Match Up

I'm not talking about raises so much, I'm talking about why companies make decisions that they do.

But since you bring up raises, thousands of Americans did get raises, bonuses, or both thanks to the tax cut.

You see, we have three options to choose from when it comes to business. We can have......

Lower wages and higher company profits which increase our investment returns.
Lower wages, keep jobs in America, and lower cost products.
Higher wages, lower return on investments, and higher priced products.

We can't have all three. Something has to give.

So we chose lower priced products and higher investment returns since many of us have our IRA in the market. When we made that choice, we put wages on the back burner. We don't care.

When unions had the strength, they didn't give us any option. We had higher priced products, jobs leaving by the millions, lower returns on our investments (which many at the time didn't have) and great paying jobs.

Today we have choices, and we made the ones we wanted.

You mean the guys who's pay went from 20X the average worker to 300X the average worker decided lower priced products and higher investment returns was the way to go. CEOs shipped the jobs away. And their pay includes lots of stock, go figure.

 

[Picaro]

Wanna buy laundry equipment for your home? Good luck paying more than you used to, thanks to Donald J. Trump and his tariffs.
In this thread, we will come up with ideas as to how to lower said prices again:
Opinion | Trump’s tariffs are already backfiring

And Harley says they plan to move operation to EU and Trump threatens them with more taxes.

The first causalities of Trumps tariff war is 60 workers at Mid-Continent Nail, America's largest nail manufacturer. They lost their jobs on June 15 at a factory in a part of Missouri that voted overwhelmingly for Trump. The whole company could be out of business by Labor Day. There will be more to come, a lot more as the Trump war expands.

lol 60? We lost millions under the Bush-Clinton NAFTA scam. Milloins more under Carter's Favored Nation scam for Red China, hundreds of thousands to Viet Nam alone.

You don't find it odd that 'globalists' loves them some communist countries with police states?

 

[kaz]

Washington compost is pathetic. The cost of washing machines increased a little? That's the thing we all should be worried about? LOL

That's not a little. When was the last time it increased that much?

If this had been under Obama, the nutters would be describing it as a fortune.

If this happened under Obama, you'd be in favor of tariffs, like you were the day before Trump was elected and will be again the day he leaves office

 

[Flash]

Wanna buy laundry equipment for your home? Good luck paying more than you used to, thanks to Donald J. Trump and his tariffs.
In this thread, we will come up with ideas as to how to lower said prices again:
Opinion | Trump’s tariffs are already backfiring

And Harley says they plan to move operation to EU and Trump threatens them with more taxes.

The first causalities of Trumps tariff war is 60 workers at Mid-Continent Nail, America's largest nail manufacturer. They lost their jobs on June 15 at a factory in a part of Missouri that voted overwhelmingly for Trump. The whole company could be out of business by Labor Day. There will be more to come, a lot more as the Trump war expands.

lol 60? We lost millions under the Bush-Clinton NAFTA scam. Milloins more under Carter's Favored Nation scam for Red China, hundreds of thousands to Viet Nam alone.

You don't find it odd that 'globalists' loves them some communist countries with police states?

The imbalance of trade has been a terrible burden on the US. It robs us of our wealth when more money is going out of our country than is coming in.

Trumps understands that. No other President in my life time has really understood it.

Trump is a businessman that understands the problem. He is putting pressure on other countries to correct the problem. It will not be easy but thank goodness he is working it. There is a possibility it could all blow up but Trump is usually competent in what he does so we will see.

Beats the hell out of the trade policy of previous Presidents to give away the store.

 

[Picaro]

Wanna buy laundry equipment for your home? Good luck paying more than you used to, thanks to Donald J. Trump and his tariffs.
In this thread, we will come up with ideas as to how to lower said prices again:
Opinion | Trump’s tariffs are already backfiring

And Harley says they plan to move operation to EU and Trump threatens them with more taxes.

The first causalities of Trumps tariff war is 60 workers at Mid-Continent Nail, America's largest nail manufacturer. They lost their jobs on June 15 at a factory in a part of Missouri that voted overwhelmingly for Trump. The whole company could be out of business by Labor Day. There will be more to come, a lot more as the Trump war expands.

lol 60? We lost millions under the Bush-Clinton NAFTA scam. Milloins more under Carter's Favored Nation scam for Red China, hundreds of thousands to Viet Nam alone.

You don't find it odd that 'globalists' loves them some communist countries with police states?

The imbalance of trade has been a terrible burden on the US. It robs us of our wealth when more money is going out of our country than is coming in.

Trumps understands that. No other President in my life time has really understood it.

Trump is a businessman that understands the problem. He is putting pressure on other countries to correct the problem. It will not be easy but thank goodness he is working it. There is a possibility it could all blow up but Trump is usually competent in what he does so we will see.

Beats the hell out of the trade policy of previous Presidents to give away the store.

It's complete idiocy to turn a country into a consumer economy while simultaneously stripping it of nearly all of the high productivity jobs and the disposable incomes necessary for a 'consumer economy' to work. Wall Street doesn't have to care, they have all the tax credits and subsidies that make Red China a grand investment for them.

Trump is trying to reverse that, and hopefully he gets some of it done. The problem is they looted the domestic economy for decades, and it will take some time to correct that, and the attention spans of the 'It's All About Me!!' generations is measured in seconds, not years.

 

[Brain357]

Washington compost is pathetic. The cost of washing machines increased a little? That's the thing we all should be worried about? LOL

That's not a little. When was the last time it increased that much?

If this had been under Obama, the nutters would be describing it as a fortune.

If this happened under Obama, you'd be in favor of tariffs, like you were the day before Trump was elected and will be again the day he leaves office

Even unions haven’t been pro tariff for quite some time. They always lose jobs.

 

[Flash]

Wanna buy laundry equipment for your home? Good luck paying more than you used to, thanks to Donald J. Trump and his tariffs.
In this thread, we will come up with ideas as to how to lower said prices again:
Opinion | Trump’s tariffs are already backfiring

And Harley says they plan to move operation to EU and Trump threatens them with more taxes.

The first causalities of Trumps tariff war is 60 workers at Mid-Continent Nail, America's largest nail manufacturer. They lost their jobs on June 15 at a factory in a part of Missouri that voted overwhelmingly for Trump. The whole company could be out of business by Labor Day. There will be more to come, a lot more as the Trump war expands.

lol 60? We lost millions under the Bush-Clinton NAFTA scam. Milloins more under Carter's Favored Nation scam for Red China, hundreds of thousands to Viet Nam alone.

You don't find it odd that 'globalists' loves them some communist countries with police states?

The imbalance of trade has been a terrible burden on the US. It robs us of our wealth when more money is going out of our country than is coming in.

Trumps understands that. No other President in my life time has really understood it.

Trump is a businessman that understands the problem. He is putting pressure on other countries to correct the problem. It will not be easy but thank goodness he is working it. There is a possibility it could all blow up but Trump is usually competent in what he does so we will see.

Beats the hell out of the trade policy of previous Presidents to give away the store.

It's complete idiocy to turn a country into a consumer economy while simultaneously stripping it of nearly all of the high productivity jobs and the disposable incomes necessary for a 'consumer economy' to work. Wall Street doesn't have to care, they have all the tax credits and subsidies that make Red China a grand investment for them.

Trump is trying to reverse that, and hopefully he gets some of it done. The problem is they looted the domestic economy for decades, and it will take some time to correct that, and the attention spans of the 'It's All About Me!!' generations is measured in seconds, not years.

You are correct.

Back in my college days I took a course in International Economics. The thing that I remember the most about that course is the importance of a balance in trade.

When a country has more moeny going out than it has coming in then all that extra money becomes a drain of wealth.

Back in the 1980s we had all our money going to Japan. With the extra dollars they were able to buy a good portion of Hawaii and California. In addition they bought American business and the profits started going to the Japanese. We are poorer because of that trade deficit.

I am just glad Trump understand the problem and is working hard to fix it and yes we are going to have some disruptions until we get it back in line.

Other Presidents didn't have the balls to confront the problem. God bless Trump.

Right now not to worry. The tariffs are a small fraction of our booming economy.

 

[Brain357]

Wanna buy laundry equipment for your home? Good luck paying more than you used to, thanks to Donald J. Trump and his tariffs.
In this thread, we will come up with ideas as to how to lower said prices again:
Opinion | Trump’s tariffs are already backfiring

And Harley says they plan to move operation to EU and Trump threatens them with more taxes.

The first causalities of Trumps tariff war is 60 workers at Mid-Continent Nail, America's largest nail manufacturer. They lost their jobs on June 15 at a factory in a part of Missouri that voted overwhelmingly for Trump. The whole company could be out of business by Labor Day. There will be more to come, a lot more as the Trump war expands.

lol 60? We lost millions under the Bush-Clinton NAFTA scam. Milloins more under Carter's Favored Nation scam for Red China, hundreds of thousands to Viet Nam alone.

You don't find it odd that 'globalists' loves them some communist countries with police states?

The imbalance of trade has been a terrible burden on the US. It robs us of our wealth when more money is going out of our country than is coming in.

Trumps understands that. No other President in my life time has really understood it.

Trump is a businessman that understands the problem. He is putting pressure on other countries to correct the problem. It will not be easy but thank goodness he is working it. There is a possibility it could all blow up but Trump is usually competent in what he does so we will see.

Beats the hell out of the trade policy of previous Presidents to give away the store.

It's complete idiocy to turn a country into a consumer economy while simultaneously stripping it of nearly all of the high productivity jobs and the disposable incomes necessary for a 'consumer economy' to work. Wall Street doesn't have to care, they have all the tax credits and subsidies that make Red China a grand investment for them.

Trump is trying to reverse that, and hopefully he gets some of it done. The problem is they looted the domestic economy for decades, and it will take some time to correct that, and the attention spans of the 'It's All About Me!!' generations is measured in seconds, not years.

You are correct.

Back in my college days I took a course in International Economics. The thing that I remember the most about that course is the importance of a balance in trade.

When a country has more moeny going out than it has coming in then all that extra money becomes a drain of wealth.

Back in the 1980s we had all our money going to Japan. With the extra dollars they were able to buy a good portion of Hawaii and California. In addition they bought American business and the profits started going to the Japanese. We are poorer because of that trade deficit.

I am just glad Trump understand the problem and is working hard to fix it and yes we are going to have some disruptions until we get it back in line.

Other Presidents didn't have the balls to confront the problem. God bless Trump.

Right now not to worry. The tariffs are a small fraction of our booming economy.

Trump Hates the Trade Deficit. Most Economists Don’t.


Most economists do not see the trade gap as money “lost” to other countries, nor do they worry about trade deficits to a large degree. That’s because trade imbalances are affected by a host of macroeconomic factors, including the relative growth rates of countries, the value of their currencies, and their saving and investment rates. For instance, America’s trade deficit narrowed dramatically during the Great Recession, when national consumption faltered.

 

[Brain357]

Trump Hates the Trade Deficit. Most Economists Don’t.
Economists who share Mr. Trump’s concern with the overall trade deficit, or at least some degree of it, say there are better ways than tariffs to reduce it. Dean Baker, a liberal economist who writes frequently on trade policy, said targeting currency values is the best route; if other countries’ currencies strengthen relative to the dollar, it becomes more attractive for their consumers to buy American exports.

Mr. Gagnon has a list of recommendations but said one dwarfs all others: reducing America’s growing federal budget deficit, which is fueling foreign investment in the United States as the government turns to other nations to finance its spending.

 

[Flash]

And Harley says they plan to move operation to EU and Trump threatens them with more taxes.

The first causalities of Trumps tariff war is 60 workers at Mid-Continent Nail, America's largest nail manufacturer. They lost their jobs on June 15 at a factory in a part of Missouri that voted overwhelmingly for Trump. The whole company could be out of business by Labor Day. There will be more to come, a lot more as the Trump war expands.

lol 60? We lost millions under the Bush-Clinton NAFTA scam. Milloins more under Carter's Favored Nation scam for Red China, hundreds of thousands to Viet Nam alone.

You don't find it odd that 'globalists' loves them some communist countries with police states?

The imbalance of trade has been a terrible burden on the US. It robs us of our wealth when more money is going out of our country than is coming in.

Trumps understands that. No other President in my life time has really understood it.

Trump is a businessman that understands the problem. He is putting pressure on other countries to correct the problem. It will not be easy but thank goodness he is working it. There is a possibility it could all blow up but Trump is usually competent in what he does so we will see.

Beats the hell out of the trade policy of previous Presidents to give away the store.

It's complete idiocy to turn a country into a consumer economy while simultaneously stripping it of nearly all of the high productivity jobs and the disposable incomes necessary for a 'consumer economy' to work. Wall Street doesn't have to care, they have all the tax credits and subsidies that make Red China a grand investment for them.

Trump is trying to reverse that, and hopefully he gets some of it done. The problem is they looted the domestic economy for decades, and it will take some time to correct that, and the attention spans of the 'It's All About Me!!' generations is measured in seconds, not years.

You are correct.

Back in my college days I took a course in International Economics. The thing that I remember the most about that course is the importance of a balance in trade.

When a country has more moeny going out than it has coming in then all that extra money becomes a drain of wealth.

Back in the 1980s we had all our money going to Japan. With the extra dollars they were able to buy a good portion of Hawaii and California. In addition they bought American business and the profits started going to the Japanese. We are poorer because of that trade deficit.

I am just glad Trump understand the problem and is working hard to fix it and yes we are going to have some disruptions until we get it back in line.

Other Presidents didn't have the balls to confront the problem. God bless Trump.

Right now not to worry. The tariffs are a small fraction of our booming economy.

Trump Hates the Trade Deficit. Most Economists Don’t.


Most economists do not see the trade gap as money “lost” to other countries, nor do they worry about trade deficits to a large degree. That’s because trade imbalances are affected by a host of macroeconomic factors, including the relative growth rates of countries, the value of their currencies, and their saving and investment rates. For instance, America’s trade deficit narrowed dramatically during the Great Recession, when national consumption faltered.

I don't know who "most economist" are. That goes against what I was taught in my International Economics course.

When you have a negative trade deficit then that money becomes a demand on your wealth. It is really as simple as that.

A country increases it wealth by getting money from other countries. It loses it wealth when the other countries have its money.

Now to be fair you can have an imbalance in trade and that can be offset by money coming in from other sources like foreign investments. In fact that is what saved the US for many years. We had tremendous worldwide investment and the profits offset what we were losing in trade. That is what those economist are referring to. However, that will evaporate over time as foreign counties use their excess dollars to invest in the US and reverse the flow of money. That is what Trump is concerned about and rightfully so.

 

[Brain357]

lol 60? We lost millions under the Bush-Clinton NAFTA scam. Milloins more under Carter's Favored Nation scam for Red China, hundreds of thousands to Viet Nam alone.

You don't find it odd that 'globalists' loves them some communist countries with police states?

The imbalance of trade has been a terrible burden on the US. It robs us of our wealth when more money is going out of our country than is coming in.

Trumps understands that. No other President in my life time has really understood it.

Trump is a businessman that understands the problem. He is putting pressure on other countries to correct the problem. It will not be easy but thank goodness he is working it. There is a possibility it could all blow up but Trump is usually competent in what he does so we will see.

Beats the hell out of the trade policy of previous Presidents to give away the store.

It's complete idiocy to turn a country into a consumer economy while simultaneously stripping it of nearly all of the high productivity jobs and the disposable incomes necessary for a 'consumer economy' to work. Wall Street doesn't have to care, they have all the tax credits and subsidies that make Red China a grand investment for them.

Trump is trying to reverse that, and hopefully he gets some of it done. The problem is they looted the domestic economy for decades, and it will take some time to correct that, and the attention spans of the 'It's All About Me!!' generations is measured in seconds, not years.

You are correct.

Back in my college days I took a course in International Economics. The thing that I remember the most about that course is the importance of a balance in trade.

When a country has more moeny going out than it has coming in then all that extra money becomes a drain of wealth.

Back in the 1980s we had all our money going to Japan. With the extra dollars they were able to buy a good portion of Hawaii and California. In addition they bought American business and the profits started going to the Japanese. We are poorer because of that trade deficit.

I am just glad Trump understand the problem and is working hard to fix it and yes we are going to have some disruptions until we get it back in line.

Other Presidents didn't have the balls to confront the problem. God bless Trump.

Right now not to worry. The tariffs are a small fraction of our booming economy.

Trump Hates the Trade Deficit. Most Economists Don’t.


Most economists do not see the trade gap as money “lost” to other countries, nor do they worry about trade deficits to a large degree. That’s because trade imbalances are affected by a host of macroeconomic factors, including the relative growth rates of countries, the value of their currencies, and their saving and investment rates. For instance, America’s trade deficit narrowed dramatically during the Great Recession, when national consumption faltered.

I don't know who "most economist" are. That goes against what I was taught in my International Economics course.

When you have a negative trade deficit then that money becomes a demand on your wealth. It is really as simple as that.

A country increases it wealth by getting money from other countries. It loses it wealth when the other countries have its money.

Now to be fair you can have an imbalance in trade and that can be offset by money coming in from other sources like foreign investments. In fact that is what saved the US for many years. We had tremendous worldwide investment and the profits offset what we were losing in trade. That is what those economist are referring to. However, that will evaporate over time as foreign counties use their excess dollars to invest in the US and reverse the flow of money. That is what Trump is concerned about and rightfully so.

Better economists than whoever taught your class. How long ago was this?

 

[Brain357]

According to Nobel laureate Milton Friedman, trade deficits are not ever harmful in the long run because the currency will always come back to the country in some form or another, such as via foreign investment.

 

[AsherN]

[

There is nothing broken about a trade deficit. We all have trade deficits, you have one with your grocery store, you give them cash and all they ever give you is stuff.

A trade deficit merely means that the people of this country have freely chosen to buy things from other countries. And you wish to curtil that freedom.

In the context of the trade deficit with China, for decades companies shifted manufacturing to China to raise their profits. Then they wonder how come we buy so much stuff from China????

 

[Indeependent]

According to Nobel laureate Milton Friedman, trade deficits are not ever harmful in the long run because the currency will always come back to the country in some form or another, such as via foreign investment.

Huh?
Investing in Chinese factories and Chinese citizens is bringing money to the US?
Yeah...virtual money.
How do you think the Housing Bubble crashed?
Milton is adored by neo-Cons.

 

[Indeependent]

The imbalance of trade has been a terrible burden on the US. It robs us of our wealth when more money is going out of our country than is coming in.

Trumps understands that. No other President in my life time has really understood it.

Trump is a businessman that understands the problem. He is putting pressure on other countries to correct the problem. It will not be easy but thank goodness he is working it. There is a possibility it could all blow up but Trump is usually competent in what he does so we will see.

Beats the hell out of the trade policy of previous Presidents to give away the store.

It's complete idiocy to turn a country into a consumer economy while simultaneously stripping it of nearly all of the high productivity jobs and the disposable incomes necessary for a 'consumer economy' to work. Wall Street doesn't have to care, they have all the tax credits and subsidies that make Red China a grand investment for them.

Trump is trying to reverse that, and hopefully he gets some of it done. The problem is they looted the domestic economy for decades, and it will take some time to correct that, and the attention spans of the 'It's All About Me!!' generations is measured in seconds, not years.

You are correct.

Back in my college days I took a course in International Economics. The thing that I remember the most about that course is the importance of a balance in trade.

When a country has more moeny going out than it has coming in then all that extra money becomes a drain of wealth.

Back in the 1980s we had all our money going to Japan. With the extra dollars they were able to buy a good portion of Hawaii and California. In addition they bought American business and the profits started going to the Japanese. We are poorer because of that trade deficit.

I am just glad Trump understand the problem and is working hard to fix it and yes we are going to have some disruptions until we get it back in line.

Other Presidents didn't have the balls to confront the problem. God bless Trump.

Right now not to worry. The tariffs are a small fraction of our booming economy.

Trump Hates the Trade Deficit. Most Economists Don’t.


Most economists do not see the trade gap as money “lost” to other countries, nor do they worry about trade deficits to a large degree. That’s because trade imbalances are affected by a host of macroeconomic factors, including the relative growth rates of countries, the value of their currencies, and their saving and investment rates. For instance, America’s trade deficit narrowed dramatically during the Great Recession, when national consumption faltered.

I don't know who "most economist" are. That goes against what I was taught in my International Economics course.

When you have a negative trade deficit then that money becomes a demand on your wealth. It is really as simple as that.

A country increases it wealth by getting money from other countries. It loses it wealth when the other countries have its money.

Now to be fair you can have an imbalance in trade and that can be offset by money coming in from other sources like foreign investments. In fact that is what saved the US for many years. We had tremendous worldwide investment and the profits offset what we were losing in trade. That is what those economist are referring to. However, that will evaporate over time as foreign counties use their excess dollars to invest in the US and reverse the flow of money. That is what Trump is concerned about and rightfully so.

Better economists than whoever taught your class. How long ago was this?

The US economy is all smoke and mirrors.

 

[Harpy Eagle]

Wanna buy laundry equipment for your home? Good luck paying more than you used to, thanks to Donald J. Trump and his tariffs.
In this thread, we will come up with ideas as to how to lower said prices again:
Opinion | Trump’s tariffs are already backfiring

And Harley says they plan to move operation to EU and Trump threatens them with more taxes.

The first causalities of Trumps tariff war is 60 workers at Mid-Continent Nail, America's largest nail manufacturer. They lost their jobs on June 15 at a factory in a part of Missouri that voted overwhelmingly for Trump. The whole company could be out of business by Labor Day. There will be more to come, a lot more as the Trump war expands.

lol 60? We lost millions under the Bush-Clinton NAFTA scam. Milloins more under Carter's Favored Nation scam for Red China, hundreds of thousands to Viet Nam alone.

You don't find it odd that 'globalists' loves them some communist countries with police states?

The imbalance of trade has been a terrible burden on the US. It robs us of our wealth when more money is going out of our country than is coming in.

Trumps understands that. No other President in my life time has really understood it.

Trump is a businessman that understands the problem. He is putting pressure on other countries to correct the problem. It will not be easy but thank goodness he is working it. There is a possibility it could all blow up but Trump is usually competent in what he does so we will see.

Beats the hell out of the trade policy of previous Presidents to give away the store.

Yeah!! How dare the American people use their freedom to buy what they want to buy regardless of where it is made!

Thank goodness we have people like you and Trump to take that freedom away from us


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