THE ERA OF TRUMP

[Zlaxer]

A 684% tariff? That's not going to induce the consumer to buy domestic, that's just going to induce the consumer not to buy at all, 70% of your economy is consumer spending, net result would be a massive recession

Maybe - maybe not - your assuming that goods can't be made in the US below a 68% Chinese tariff....I find that a little hard to believe. And even if that were the case, then unhappy US consumers would put pressure on politicians to finally solve some of the big issues.

China is destroying the environment - there is no question on that....the world needs to be able to function without Chinese slave goods....

[Smitty-48]

I would pay more absolutely. If it benefits my people....what is left of them at least.

On the aggregate, the consumer would not, the Chinese made products are out there, they're cheaper, there's no American alternative which is better quality anymore, consumer stuff made in China is just as good as the stuff made in the USA, heck, even the uber-expensive Burberry that the rich folk pay for as a status symbol; Made in China; people actually pay top dollar for Chinese made products now.

[Smitty-48]

A 684% tariff? That's not going to induce the consumer to buy domestic, that's just going to induce the consumer not to buy at all, 70% of your economy is consumer spending, net result would be a massive recession

Maybe - maybe not - your assuming that goods can't be made in the US below a 68% Chinese tariff....I find that a little hard to believe. And even if that were the case, then unhappy US consumers would put pressure on politicians to finally solve some of the big issues.

That's just on exchange rate, we haven't even gotten to healthcare costs, regulatory costs, and high taxation on US companies and capital gains, and the idea that a recession makes people "solve the big issues" is silly, all they will do is vote the GOP out of office, and the GOP well knows it, which is why the idea that they are going to jack tariffs through the roof is such an obvious bluff, and China well knows it.

[Zlaxer]

I would pay more absolutely. If it benefits my people....what is left of them at least.

On the aggregate, the consumer would not, the Chinese made products are out there, they're cheaper, there's no American alternative which is better quality anymore, consumer stuff made in China is just as good as the stuff made in the USA, heck, even the uber-expensive Burberry that the rich folk pay for as a status symbol; Made in China; people actually pay top dollar for Chinese made products now.

Chinese steel is shit - and its a major issue....the problem is it hasn't officially been banned (that's called corruption), so contractors keep using it. But you can bet your ass it's structurally unsound....

[KerningChameleon]

Amusingly, Chinese consumers don't trust Chinese made products either, and actively seek out foreign brands if they can.

Of course, this means there exists an industry in the Chinese market for fake foreign brands, which the people happily lap up. Still Made in China...

[Smitty-48]

Chinese steel is shit - and its a major issue....the problem is it hasn't officially been banned (that's called corruption), so contractors keep using it. But you can bet your ass it's structurally unsound....

Total bullshit, there's nothing wrong with Chinese steel, Donald Trump uses it all the time, Trump International Hotel in Las Vegas was made with Chinese steel, the issue is simply that Chinese taxpayers are subsidizing steel, which is a direct transfer of wealth from the Chinese taxpayer to the American consumer, great deal for Americans.

[Zlaxer]

Chinese steel is shit - and its a major issue....the problem is it hasn't officially been banned (that's called corruption), so contractors keep using it. But you can bet your ass it's structurally unsound....

Total bullshit, there's nothing wrong with Chinese steel, Donald Trump uses it all the time, Trump International Hotel in Las Vegas was made with Chinese steel, the issue is simply that Chinese taxpayers are subsidizing steel, which is a direct transfer of wealth from the Chinese taxpayer to the American consumer, great deal for Americans.

You're wrong on the quality of Chinese steel - Know that I will "show my work" - right now I need to get some sleep.

[Smitty-48]

Chinese steel is shit - and its a major issue....the problem is it hasn't officially been banned (that's called corruption), so contractors keep using it. But you can bet your ass it's structurally unsound....

Total bullshit, there's nothing wrong with Chinese steel, Donald Trump uses it all the time, Trump International Hotel in Las Vegas was made with Chinese steel, the issue is simply that Chinese taxpayers are subsidizing steel, which is a direct transfer of wealth from the Chinese taxpayer to the American consumer, great deal for Americans.

You're wrong on the quality of Chinese steel - Know that I will "show my work" - right now I need to get some sleep.

Don't bother, it's all made up bullshit, the issue is quite obviously that Chinese steel is being subsidized, US steelmakers want to steal that subsidy from the American consumer and pocket it for themselves, publically traded companies mind you, so that's a direct transfer of wealth from the Chinese taxpayer, over the heads of the American consumer, straight into the pockets of Wall Street.

You do need some sleep, as clearly you're running out of brain cells, to be falling so easily for this scam.

[MilSpecs]

I can't tag enough quotes from my enemies in my sig.

And here I thought you were grateful for the accommodations. No turkey for you next year.

[Hanarchy Montanarchy]

IndyMac aside, how the shit is Mnuchin even an option for Trump?

"We do believe in dynamic scoring and with the appropriate growth," said Steve Mnuchin, the nominee for Treasury secretary. "I think we want to make sure that tax reform doesn't increase the deficit."

Those two sentences actually contradict each other because "dynamic scoring" is just a fancy way of justifying massive increases in the national debt — increases that would result from Trump's plan to spend $500 billion on infrastructure development while carrying out dramatic tax cuts.
...
[T]here is a way to make Washington's budgets sound more sensible than they are. That's where dynamic scoring, beloved by deficit hawks like House Speaker Paul Ryan, comes in.

It basically allows the government to estimate the future benefit of tax cuts to the economy after making a load of assumptions — including about what a future government might do in response to falling tax revenue.

http://www.businessinsider.com/trump-tr ... ing-2017-1

I do not understand how this is supposed to work with Trump's proposed tax plan. Mnuchin's financial acumen rests on getting bailed out... I don't think the whole damn economy can work that way.

I suppose if Hash is right, and money is all made up, it just takes the proper application of black magic (HAIL!) to make finances work however you like.