Tariff man strikes again

[Rez]

The tariffs on China are a no-brainer. They have been "at war" with the U.S. for decades, screwing us over. These tariffs raise the cost for whoever is buying goods coming from China. This causes the importer to move their production (factories, CM's) out of China or find another (cheaper) source outside of China. The U.S. has all the leverage and the Trump Administration knows it and will get at least some concessions if not major concessions from China. The bottom line is, economically China needs us more than we need them.

As to the stock market's reaction a week ago, all you have to do is look at what's happened since. It's made almost all it back. The economy is absolutely cranking. Thanks to Trump.

[madhatter]

The tariffs on China are a no-brainer. They have been "at war" with the U.S. for decades, screwing us over. These tariffs raise the cost for whoever is buying goods coming from China. This causes the importer to move their production (factories, CM's) out of China or find another (cheaper) source outside of China. The U.S. has all the leverage and the Trump Administration knows it and will get at least some concessions if not major concessions from China. The bottom line is, economically China needs us more than we need them.

As to the stock market's reaction a week ago, all you have to do is look at what's happened since. It's made almost all it back. The economy is absolutely cranking. Thanks to Trump.

yep...

[Coydog]

The tariffs on China are a no-brainer. They have been "at war" with the U.S. for decades, screwing us over. These tariffs raise the cost for whoever is buying goods coming from China. This causes the importer to move their production (factories, CM's) out of China or find another (cheaper) source outside of China. The U.S. has all the leverage and the Trump Administration knows it and will get at least some concessions if not major concessions from China. The bottom line is, economically China needs us more than we need them.

As to the stock market's reaction a week ago, all you have to do is look at what's happened since. It's made almost all it back. The economy is absolutely cranking. Thanks to Trump inheriting a healthy economy from Obama.

You should tell farmers and blue collar workers about Gump's roaring economy. His only significant achievement when the GOP had total control was to pass a giant tax cut for the wealthy. The "biggest tax cut in history" did pretty much nothing for the median income earner. They saved maybe $150/month, mostly wiped out by inflation and rising interest rates. All those supposed tax cut inspired cash bonuses resulted in about 2 cents an hour increase while companies spent record sums on stock buybacks. GDP may have experienced a temporary sugar high, but there's been no significant "trickle down" to the middle class and we all have $800B more in projected debt to pay for it.

And about that stock market ...

[freeski]

The average age of a farmer in the U.S. is old. China is hitting us with cheap truffles and who knows what else. We need to cut ties with them until, never mind they'll never change.

There're like rich spoon fed kids, only the opposite.

We have too much money in circulation. Inflation will be fun for baby boomers who don't know how to adjust.

[madhatter]

The tariffs on China are a no-brainer. They have been "at war" with the U.S. for decades, screwing us over. These tariffs raise the cost for whoever is buying goods coming from China. This causes the importer to move their production (factories, CM's) out of China or find another (cheaper) source outside of China. The U.S. has all the leverage and the Trump Administration knows it and will get at least some concessions if not major concessions from China. The bottom line is, economically China needs us more than we need them.

As to the stock market's reaction a week ago, all you have to do is look at what's happened since. It's made almost all it back. The economy is absolutely cranking. Thanks to Trump inheriting a healthy economy from Obama.

You should tell farmers and blue collar workers about Gump's roaring economy. His only significant achievement when the GOP had total control was to pass a giant tax cut for the wealthy. The "biggest tax cut in history" did pretty much nothing for the median income earner. They saved maybe $150/month, mostly wiped out by inflation and rising interest rates. All those supposed tax cut inspired cash bonuses resulted in about 2 cents an hour increase while companies spent record sums on stock buybacks. GDP may have experienced a temporary sugar high, but there's been no significant "trickle down" to the middle class and we all have $800B more in projected debt to pay for it.

And about that stock market ...

good luck running on that platform...

[Kpdemello]

As per usual, presidents get far too much credit for the state of the economy. Trump hasn't really done much that I can see for the economy other than signing a tax cut that he had very little to do with putting together. BTW, I don't think Obama had much to do with the healthy economy that Trump inherited, either.

I think Presidents should be judged on the things they actually do, like negotiating trade deals, legislation they help push through Congress, foreign policy decisions, etc. From that perspective, Trump has been pretty ineffective so far. That may change if he can get a deal done with China.

[Coydog]

As per usual, presidents get far too much credit for the state of the economy. Trump hasn't really done much that I can see for the economy other than signing a tax cut that he had very little to do with putting together. BTW, I don't think Obama had much to do with the healthy economy that Trump inherited, either.

I think Presidents should be judged on the things they actually do, like negotiating trade deals, legislation they help push through Congress, foreign policy decisions, etc. From that perspective, Trump has been pretty ineffective so far. That may change if he can get a deal done with China.

I think it would be difficult to argue that Obama's policies had little to do with pulling us out of the Great Recession, especially his first term when things were at a crisis level.

[Kpdemello]

I think it would be difficult to argue that Obama's policies had little to do with pulling us out of the Great Recession, especially his first term when things were at a crisis level.

I disagree. I think most of the credit goes to the actions of the Federal Reserve with low interest rates and quantitative easing and all that. What Obama policy do you think pulled us out of the Great Recession?

[madhatter]

I think it would be difficult to argue that Obama's policies had little to do with pulling us out of the Great Recession, especially his first term when things were at a crisis level.

I disagree. I think most of the credit goes to the actions of the Federal Reserve with low interest rates and quantitative easing and all that. What Obama policy do you think pulled us out of the Great Recession?

hope and change, duh...after that he did nothing...

[Rez]

Leave it to Vox to cherry pick a year that began in the middle of a huge upswing and ended in the middle of a big downswing. And leave it to its dumb readers to post that to a forum and claim the stock market hasn't been great under Trump.

The morning Trump was elected, the Dow opened at just under 18,000. At the close and after all the crying and frowning by the libs it was up almost 900 points. Today it stands at over 24,000.

Thank you President Trump.

[Kpdemello]

Did you thank Obama yet for the nearly 150% gain in the Dow during his time in office?

[madhatter]

Did you thank Obama yet for the nearly 150% gain in the Dow during his time in office?

no we thanked the fed for bringing the market back to 2006 levels from the disastrous lows of the 110th congress...

[Mister Moose]

Did you thank Obama yet for the nearly 150% gain in the Dow during his time in office?

Which programs that Obama enacted that you think were responsible did he campaign on? Which were his ideas, and not the Fed's?

How does Obama's "magic wand" comment reveal his understanding of economics?

[Rez]

Did you thank Obama yet for the nearly 150% gain in the Dow during his time in office?

Well first of all, this is a post about Trump's economic policies, not Obama's. If you want to start a post about Obama's economic policies, go ahead and those who want to thank him can. But otherwise I'll agree with Madhatter that the Fed's QE policy had more positive impact on the stock market (and the economy) than anything Obama did (which wasn't much). Obama didn't understand much about business or the economy. But why would he, he was a community organizer. A cool guy he was, first black president, a feel good type of guy who was a terrible president. He did inherit a crappy situation from Bush. And again, thanks to the Fed for fixing that.

[Mister Moose]

Did you thank Obama yet for the nearly 150% gain in the Dow during his time in office?

Well first of all, this is a post about Trump's economic policies, not Obama's. If you want to start a post about Obama's economic policies, go ahead and those who want to thank him can. But otherwise I'll agree with Madhatter that the Fed's QE policy had more positive impact on the stock market (and the economy) than anything Obama did (which wasn't much). Obama didn't understand much about business or the economy. But why would he, he was a community organizer. A cool guy he was, first black president, a feel good type of guy who was a terrible president. He did inherit a crappy situation from Barney Frank, et al. And again, thanks to the Fed for fixing that.

Fixed it for you.
The housing crisis was caused by [Barney Frank] who more than anyone else pushed through houses for everyone (Sorta like college for everyone, how did that one work out), reduced income requirements for a loan, and mandated accepting lower credit rating applicants because basing loan decisions on credit rating was "discriminatory". We got huge numbers of housing loans, huge numbers who couldn't pay them, and huge bubble popping with the resultant recession. And of course Wall St compounded the bubble and crash by selling investments based on these highly troubled loans. This happened during Bush's watch, so blame him in part if you like, but the roots of the problem are far deeper than Bush.