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Thread: Trump announces steel and aluminum tariffs.... the market drops 500 pts

  1. #36
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    Default Re: Trump announces steel and aluminum tariffs.... the market drops 500 pts

    If this tariff is actually put into effect - rather than simply being a NAFTA "negotiating" bluff - and it results in American job losses... will Trump own up to the fact that his tariff policy sucked and the job losses are his responsibility?

    I'd bet the answer would be "NO."
    War is peace.
    Freedom is slavery.
    Ignorance is strength.
    Trump is doing beautifully.





  2. #37
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    Default Re: Trump announces steel and aluminum tariffs.... the market drops 500 pts

    Of course he won't take responsibility nor will he back down from this.

    The double down - "Trade wars are good and easy to win."

    Hold on to your gronicles, this is gonna get nasty.
    The best statement I've seen from this latest carnage came from a student who lived through it -

    "My generation will not allow this to continue!"

    Remember voting age is 18. Read it and weep reds.

  3. #38
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    Default Re: Trump announces steel and aluminum tariffs.... the market drops 500 pts

    Quote Originally Posted by Art Haberland View Post
    the man has no clue.. I was not an economics major and even I know it is not this easy
    Donald J. Trump
    (@realDonaldTrump)

    When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win. Example, when we are down $100 billion with a certain country and they get cute, don’t trade anymore-we win big. It’s easy!
    Oh - it's easy for him - but it sure does suck for the folks that are exporting. Down 100 billion doesn't mean that we buy 100 billion & sell zip. However, that distinction is probably too nuanced for someone only able to communicate in 240 characters or less.

    Sad.

    Maybe his cheerleaders will be along to explain why this is a good thing?
    "If it ain't broke, you're not trying." - Red Green

  4. #39
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    Default Re: Trump announces steel and aluminum tariffs.... the market drops 500 pts

    Quote Originally Posted by Garret View Post
    Oh - it's easy for him - but it sure does suck for the folks that are exporting. Down 100 billion doesn't mean that we buy 100 billion & sell zip. However, that distinction is probably too nuanced for someone only able to communicate in 240 characters or less.

    Sad.

    Maybe his cheerleaders will be along to explain why this is a good thing?
    Speaking of cheerleaders or rather losing them, his top econ guy is pissed. https://www.politico.com/story/2018/...tariffs-432625 (credit to Norman for the link)

    Cohen is considered the wall between trump and insane policies.
    The best statement I've seen from this latest carnage came from a student who lived through it -

    "My generation will not allow this to continue!"

    Remember voting age is 18. Read it and weep reds.

  5. #40
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    Default Re: Trump announces steel and aluminum tariffs.... the market drops 500 pts

    I wonder if any insider trading occurred? Someone is bound to profit from the market downturn and then resurgence.

  6. #41
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    Default Re: Trump announces steel and aluminum tariffs.... the market drops 500 pts

    Quote Originally Posted by John of Phoenix
    Cohen WAS considered the wall between trump and insane policies.
    I fixed that for you.
    War is peace.
    Freedom is slavery.
    Ignorance is strength.
    Trump is doing beautifully.





  7. #42
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    Default Re: Trump announces steel and aluminum tariffs.... the market drops 500 pts

    Just so.
    The best statement I've seen from this latest carnage came from a student who lived through it -

    "My generation will not allow this to continue!"

    Remember voting age is 18. Read it and weep reds.

  8. #43
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    Default Re: Trump announces steel and aluminum tariffs.... the market drops 500 pts

    While it is true that in the US the poor always lose, it is equally true in the US the rich always win.

    The poor in the US lost the trade wars decades ago when jobs were exported. (The poor in other countries won to some extent.) The rich just followed the money.

    It is good to hear the rich complaining. Perhaps one day they will do something for the poor.
    Life is complex.

  9. #44
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    Default Re: Trump announces steel and aluminum tariffs.... the market drops 500 pts

    Quote Originally Posted by Too Little Time View Post
    While it is true that in the US the poor always lose, it is equally true in the US the rich always win.

    The poor in the US lost the trade wars decades ago when jobs were exported. (The poor in other countries won to some extent.) The rich just followed the money.

    It is good to hear the rich complaining. Perhaps one day they will do something for the poor.
    They do already.
    Screw them.

  10. #45
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    Default Re: Trump announces steel and aluminum tariffs.... the market drops 500 pts

    reds, a question for you... If "trade wars are good, and easy to win" why are steel and aluminum stocks not soaring?
    The best statement I've seen from this latest carnage came from a student who lived through it -

    "My generation will not allow this to continue!"

    Remember voting age is 18. Read it and weep reds.

  11. #46
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    Default Re: Trump announces steel and aluminum tariffs.... the market drops 500 pts

    I never swallowed the idea that the adults in the room would prevent Trump from indulging in his insane policy ideas.
    War is peace.
    Freedom is slavery.
    Ignorance is strength.
    Trump is doing beautifully.





  12. #47
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    Default Re: Trump announces steel and aluminum tariffs.... the market drops 500 pts

    Brewers Warn Beer Prices Are Going Up Under Trump's New Trade Policies

    President Donald Trump announced new trade policies Thursday, which are expected to go into place in the coming weeks. One of the results of these tariffs will likely be an increase in how much you're paying for a six-pack of beer or soda. The new tariffs include a 25% tariff on foreign steel and 10% on aluminum. Overall, the policies will have widespread impact, but within the beer industry, brewers expect their costs to go up and that may mean those costs are passed along to the beer-drinking public.


    Like most brewers, we are selling an increasing amount of our beers in aluminum cans, and this action will cause aluminum prices to rise. It is likely to lead to job losses across the beer industry. (2/3)
    — MillerCoors (@MillerCoors) March 1, 2018




    This means war!!!
    Skip

    ---This post is delivered with righteous passion and with a solemn southern directness --
    ...........fighting against the deliberate polarization of politics...

  13. #48
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    Default Re: Trump announces steel and aluminum tariffs.... the market drops 500 pts

    ...and the market is down another 200 points today.

    Time for those pitchforks and torches, I think.
    "Reason and facts are sacrificed to opinion and myth. Demonstrable falsehoods are circulated and recycled as fact. Narrow minded opinion refuses to be subjected to thought and analysis. Too many now subject events to a prefabricated set of interpretations, usually provided by a biased media source. The myth is more comfortable than the often difficult search for truth."







  14. #49
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    Default Re: Trump announces steel and aluminum tariffs.... the market drops 500 pts

    Norman,

    I keeping track of it all!

    Skip

    ---This post is delivered with righteous passion and with a solemn southern directness --
    ...........fighting against the deliberate polarization of politics...

  15. #50
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    Default Re: Trump announces steel and aluminum tariffs.... the market drops 500 pts

    Hey Joe Sixpack! You seein' this?
    The best statement I've seen from this latest carnage came from a student who lived through it -

    "My generation will not allow this to continue!"

    Remember voting age is 18. Read it and weep reds.

  16. #51
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    Default Re: Trump announces steel and aluminum tariffs.... the market drops 500 pts

    I wondered what his conception of America Great was. We will have to step up and get the old steel mills running again.


  17. #52
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    Default Re: Trump announces steel and aluminum tariffs.... the market drops 500 pts

    I don't think this will play well in Peoria!
    Skip

    ---This post is delivered with righteous passion and with a solemn southern directness --
    ...........fighting against the deliberate polarization of politics...

  18. #53
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    Default Re: Trump announces steel and aluminum tariffs.... the market drops 500 pts

    https://www.nbcnews.com/politics/don...arkets-n852581

    Un-freaking-believable. I think I really have to give strong consideration to pulling out of the stock market until this blows over. Migod.
    Gerard>
    ​Freeland, WA

    Resistance is NOT futile.

  19. #54
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    Default Re: Trump announces steel and aluminum tariffs.... the market drops 500 pts

    Quote Originally Posted by Gerarddm View Post

    Un-freaking-believable. I think I really have to give strong consideration to pulling out of the stock market until this blows over. Migod.
    If you aint out already, you not been paying attention.

  20. #55
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    Default Re: Trump announces steel and aluminum tariffs.... the market drops 500 pts

    Quote Originally Posted by Gerarddm View Post
    Un-freaking-believable. I think I really have to give strong consideration to pulling out of the stock market until this blows over. Migod.
    Quote Originally Posted by skaraborgcraft View Post
    If you aint out already, you not been paying attention.
    There is a story about Peter Lynch and the Magellan fund and the period he ran the fund and the fund had individual investors. The fund had remarkably high returns for the 7 or 9 year period. (I am uncertain.) About half of the individual investors lost money. Why? Bought high. Sold low.

    Looks like I am up 3% this year. Pretty good year - 19% annualized, so far. Tack on another 22% for last year. How can I complain? It is difficult to make the rich happy.
    Life is complex.

  21. #56
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    Default Re: Trump announces steel and aluminum tariffs.... the market drops 500 pts

    THE KEY TO SAVING AMERICAN JOBS
    LIES IN THE TAX CODE
    I dont think this is rocket science. Tariffs make everything more costly, which will cut down on demand, which will result in job loss.

    Our tax code should be designed to give incentives to companies to use domestically produced material to make whatever product they are making. The consumer should get a tax incentive to buy goods that are the result of American labor.

    My suggestion has been to give employers a double deduction for what they actually spend on wages and benefits. If they buy steel, rubber, or other material from domestic sources, Id give them a double deduction for that expense. If they buy or lease equipment, and that equipment is 100% the result of American workers, Id let them double deduct that cost. If its 50% the result of American workers, Id let them deduct 150% of the cost.

    Id give consumers a tax rebate for buying products based on the percentage of American labor that went into making those products.



    This would encourage American companies to hire and pay more, and it would bring the cost of American material and American made
    products down, rather than driving the cost of imports up.

    Meanwhile, Trump says a lot of things, but means few.
    How do we form a mutiny? Our new captain is navigating poorly.

  22. #57
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    Default Re: Trump announces steel and aluminum tariffs.... the market drops 500 pts

    Scrap dealers will be doing a brisk business.

  23. #58
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    Default Re: Trump announces steel and aluminum tariffs.... the market drops 500 pts

    Quote Originally Posted by Dave Gray View Post
    Scrap dealers will be doing a brisk business.
    And they'll be hiring by the thousands no doubt. TENS of thousands even and maybe put all those coal miners back to work.
    The best statement I've seen from this latest carnage came from a student who lived through it -

    "My generation will not allow this to continue!"

    Remember voting age is 18. Read it and weep reds.

  24. #59
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    Default Re: Trump announces steel and aluminum tariffs.... the market drops 500 pts

    Quote Originally Posted by Canoeyawl View Post
    I wondered what his conception of America Great was. We will have to step up and get the old steel mills running again.

    4 Sale. Property well landscaped.
    There is no rational, logical, or physical description of how free will could exist. It therefore makes no sense to praise or condemn anyone on the grounds they are a free willed self that made one choice but could have chosen something else. There is no evidence that such a situation is possible in our Universe. Demonstrate otherwise and I will be thrilled.

  25. #60
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    Default Re: Trump announces steel and aluminum tariffs.... the market drops 500 pts

    Our local itinerant scrappies would have made off with all that scrap steel by now!

  26. #61
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    Default Re: Trump announces steel and aluminum tariffs.... the market drops 500 pts

    Quote Originally Posted by birlinn View Post
    Our local itinerant scrappies would have made off with all that scrap steel by now!
    There would be plenty to keep them busy here!
    Skip

    ---This post is delivered with righteous passion and with a solemn southern directness --
    ...........fighting against the deliberate polarization of politics...

  27. #62
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    Default Re: Trump announces steel and aluminum tariffs.... the market drops 500 pts

    I wonder if anyone in the Whitehouse or Republican congress is aware of the 1931 Hawley -Smoot tariff and its catastrophic result? (the Great Depression of the 1930s)

  28. #63
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    Default Re: Trump announces steel and aluminum tariffs.... the market drops 500 pts

    Trump works on the Henry Ford dictum "history is bunk"

  29. #64
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    Default Re: Trump announces steel and aluminum tariffs.... the market drops 500 pts

    Quote Originally Posted by bobbys View Post
    I see some good points here but why be dependent on china or other places .

    This enables other countries who do not have our best intrest to corner the market.

    If in a time of war we are unable to gear up manufacturing we are the losers.

    Trump is playing the long game, risking political capital for our best intrests..


    Our?? His own best interests, always.

  30. #65
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    Default Re: Trump announces steel and aluminum tariffs.... the market drops 500 pts

    We ARE at war and have been since 2003. There's been no shortage of anything in those 15 years.
    The best statement I've seen from this latest carnage came from a student who lived through it -

    "My generation will not allow this to continue!"

    Remember voting age is 18. Read it and weep reds.

  31. #66
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    Default Re: Trump announces steel and aluminum tariffs.... the market drops 500 pts

    Quote Originally Posted by bobbys View Post
    Trump is playing the long game, risking political capital for our best interests...

    The credit you are willing to extend to one Donald Trump, while simultaneously judging as mistaken or malevolent every intent and motivation of anyone taking issue with his actions or ideas, is truly fabulous.

    I never knew such an extreme partisan attitude could exist, particularly adhering as it does to a single personality.

    It's a case study in something or other.

  32. #67
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    Default Re: Trump announces steel and aluminum tariffs.... the market drops 500 pts

    Quote Originally Posted by bobbys View Post
    I see some good points here but why be dependent on china or other places .

    This enables other countries who do not have our best intrest to corner the market.

    If in a time of war we are unable to gear up manufacturing we are the losers.

    Trump is playing the long game, risking political capital for our best intrests..


    China does not even make it into the top 10 of metal importers into the US. The damage you are doing is way closer to home.

  33. #68
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    Default Re: Trump announces steel and aluminum tariffs.... the market drops 500 pts

    Quote Originally Posted by bobbys View Post
    I see some good points here but why be dependent on china or other places .

    This enables other countries who do not have our best intrest to corner the market.

    If in a time of war we are unable to gear up manufacturing we are the losers.

    Trump is playing the long game, risking political capital for our best intrests..


    So - the way for me to get better at fighting is to only allow me to fight people who have an arm tied behind their backs? Only way for me to get good at winning a marathon is to only race people dragging a cement block?

    What happens when I have to fight someone who has the use of both arms or have to run against someone not dragging a cement block?

    The president has just delivered a huge savings to all of the companies via the tax bill. Now they need more?

    It's very simple - the way to become best is to compete. Tariffs protecting them is no different than mommie doing the above.
    "If it ain't broke, you're not trying." - Red Green

  34. #69
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    Default Re: Trump announces steel and aluminum tariffs.... the market drops 500 pts

    Quote Originally Posted by bobbys View Post
    I see some good points here but why be dependent on china or other places .

    This enables other countries who do not have our best intrest to corner the market.

    If in a time of war we are unable to gear up manufacturing we are the losers.

    Trump is playing the long game, risking political capital for our best intrests..


    WTF? By gearing up for war?

    I'm not convinced that steel and aluminum will win a war we have already lost. (Another country choosing our president)

  35. #70
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    Default Re: Trump announces steel and aluminum tariffs.... the market drops 500 pts

    Quote Originally Posted by skaraborgcraft View Post
    China does not even make it into the top 10 of metal importers into the US. The damage you are doing is way closer to home.

    What he said:



    Aluminum is different. While I couldn't find a chart, the top four countries that send aluminum to the United States are Canada, Russia, the United Arab Emirates and China.

    Notice that Canada is the largest for both? That country that has a health care system that we can't afford? You'll find their workers are paid as well or better too.
    "If it ain't broke, you're not trying." - Red Green

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