The trump regime was designed to TANK the US economy so that stocks, businesses, and industries can be bought by billionaires at rock bottom prices.
All is going according to plan.
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The trump regime was designed to TANK the US economy so that stocks, businesses, and industries can be bought by billionaires at rock bottom prices.
All is going according to plan.
Fuck Cambodia specifically. Trump probably got a bad VD from there at some point.
And just like that every American good costs significantly more.
If your family income is less than about $200,000, congratulations, your tax rate has at least doubled.
Why the fuck is our media so bad that they blindly accept Trump's bullshit line that the tariffs are "reciprocal"? Are they just stupid or have they been paid off? Do they not know the meaning of "reciprocal" or are they just too fucking lazy to question the White House's rhetoric even a little bit?
The state of the United States makes me sick. We're being robbed blind buy the oligarchy in broad daylight while the media gleefully amplifies the administrations lies.
So is the plan to drive the cost of everyday essentials so high that virtually everyone bankrupts and the billionaires buy all of our assets for pennies on the thousand dollars? That is all I can come up with trying to make a scenario where this has some coherent objective.
He wants to use tariffs (which act like a flat-tax) to lower income tax on the rich. There's speculation he's also doing something like the "Mar-a-Lago Accord," which involves devaluing the dollar (causing inflation). If wages don't rise with the inflation (which they don't want), US labor will be more competitive, so people can work in factory jobs with pay analogous to current Chinese factory workers.
This gold from wallstreetbets:
Soooo is the tariffs charged to the United States really a ratio of the trade imbalance?? For example Vietnam imported roughly 14.6 billion in goods from the United States, and we imported around 146 billion, so thus they have decided tariffs are 90% to the United States…thus we are putting a tariff on them of half of that…which means we are literally tariffing the goods we either a)need more or b) get more efficiently at a higher rate? That may be the absolute dumbest way to create a tariff policy I could imagine if that is the case…which it looks to be.
https://old.reddit.com/r/wallstreetbets/comments/1jpzhje/tariff_chart_released/ml476s7/
I think it's important to note that this will kill a great many small businesses.
Larger companies have a larger supply in giant warehouses. Small businesses order smaller quantities more often. They get fucked sooner with the costs going up. If a customer wants to support that small business they sometimes would have to pay twice what they could get it for from a larger company. This is a deep consolidation of wealth.
They'll be reverted as soon as he gets some flattery and palm greasing from the right people.
I'd love to open the news one evening and not feel like we're another step closer to the apocalypse.
Honestly, fuck Trump. Where my Luigis at?
I don't know what the actual reasoning is but the 49/46% on Cambodia and Vietnam sounds an awful lot like how we still embargo Cuba like decades after failing to overthrow Castro.
The number for a tariff is a trading deficit divided by total export of a country. It's simplistically stupid.
Reminder that after setting the political stage for the Khmer Rouge to take power with the carpet-bombing of Cambodia, the US Government continued to recognize Pol Pot as its rightful ruler all the way through to the early 1990s, simply because the actual Cambodian government of the 80s was installed with Vietnam's help.
The USA seems to be on an never-ending quest to fuck Indochina over for no fucking reason.
Never mind the money. Think about this: Is the American lifestyle self-sustainable?
No? Why not?
Because they use more than they produce? Yes, and where do those things come from?
Imports? Yes.
Trump litteraly put a stop to the American lifestyle.
I swear that if we could just all ignore him unless he does nice things, we'll make him stop. The tariffs are not his plan. That's someone else pulling the strings. He just likes the attention. Giving a malignant narcissist any kind of supply is just going to make him worse. His fans already treat him like the messiah.
Gray rock the shit out of him. Remove his name from the internet, hack Fox news - take it all down, and only give it back when he behaves like a good boy.
This is kind of hilarious in a dumb way. It's going to hit american consumers like a goddamn hammer, and will be rewarded with tariffs going the other way, and we'll all be poorer. Americans most of all.
If he keeps going like this you'll end up with stagflation - high inflation and a stagnating or recessive economy. That shit is hard to get out of, good luck.
Trump: Meta will invest $500 billion.
Truth: Meta will invest around $60 billion.
Thats a gross mis representation of what’s factually correct in monetary terms.
This fucking asshat is going to sink the American economy. No major company is going to do this. Why would TSMC spend “$500 billion” to build a factory?
Them just paying the tariff would be less than building a new factory. They just need to survive trumps term and frankly, when the U.S. can’t get chips at an affordable price from Taiwan, those tariffs will fall away like a pillar f sand during high tide.
Absolutely dumbest fucking turd on the planet.