Trump's steel tariffs is why GM just laid off everyone.
Congratulations Trump voters, you played yourself.
The US economy is a globalist one that seeks open borders and free trade. The quicker you understand that, the better off you will be in this country.
Apple is doing exactly that by designing products by brilliant engineers in Silicon Valley, while having them built by cheaper, lower educated people in China.
If a person in China can build something for cheaper than in America, LET THEM - that is economic efficiency. An efficient economy will always win over an corrupt, inefficient one. Americans should only do jobs that only Americans can do, like high-end services jobs. Our economy is based on massive higher-education - the best in the world. No other country has a university system like ours, and we should take advantage of that.
We don't want Americans to perform manual labor that oxen can do. We only want engineers and scientists and artist - people that can create value with their minds.
New York, Silicon Valley and Hollywood are good examples of the kind of economy the US should be going forward.
A good example of complete economic failure is Russia - their economy is entirely based on selling things they find on the ground. When was the last time anyone bought something designed/made in Russia?
Ok, I agree with 9/10ths of what you have to say regarding this situation—YES, Trumpty-Dumb-ty definitely played himself! and the entire U.S.A.'s economy. In short, we're screwed, and we should all expect this to get MUCH worse with significant impacts throughout our economy. The dominoes will fall, farmers will lose their farms to foreclosure, more auto plants will close factories or move them out of country, etc.
And while I also agree that the quality of U.S. products as conceived, designed, and produced here (as in creative media) is integral to our economy, and we do want more of our workforce to work non-Oxen-level jobs(!) LOL...our educational system, which does have some of the best schools, is failing a large percentage of the populace due to our elementary through high school system. If we really want a 'first world' workforce, they need to be educated as such.
That is where countries like China differ from us, they do actually aspire to improve educational resources for all citizens.
As to a corrupt and inefficient economy...well, our current situation (and the recession of 2008-2011) show that we do suffer from both corruption and stupidity at the highest levels. Also, 'efficiency' is part of what keeps wages for lower-skilled and service workers in this country at sub-living standards and requires public assistance to feed people who are working full time jobs (or part-time jobs, since companies SAVE so much MONEY by not hiring folks as full-timers).
As to Russia, I agree entirely. Is there anything out of Russia which is consumed in any other part of the world (excluding expatriate Russians)? and apart from some literature (I mean modern stuff, the classics are of course 'classic' and cannon, so popularity is assured).
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That sound you hear? That's the sound of shareholders running for the hills. Yikes!
I've been wondering if this is the real reason why Apple has been raising prices like crazy lately. They knew this was a possibility.
-- EDIT
I just re-read this article a day later. Does Trump honestly even know what a tariff is? Serious question. Trump's quote for context:
The point of a tariff is to put pressure on China to get a better trade deal, or to move manufacturing of these devices back to the U.S. A tariff would presumably make it less likely for people to buy phones and laptops that are made in China because the company importing them would have to pay the tariff and therefore raise rates.
However, if Trump thinks that "people could stand a 10% tariff very easily", then what's the point of said tariff if it won't accomplish either of the goals of a tariff? His statement says that people are going to keep buying phones and laptops regardless because they can "stand it", so essentially what Trump is doing is making it more expensive for American citizens and businesses to buy these crucial items that they need for personal and work reasons for no reason whatsoever.
Sure, I suppose the government will make some revenue from it, but that is not usually the goal of a tariff as a tariff usually drives down demand over time. By putting a 10% tariff on these goods, he is basically just taxing the American people for the most crucial item they use in their everyday life. It's fine if that's what they want to do, but they should just call it what it is and stop trying to be sneaky about it. It's almost like taxing water or food—just because it's more expensive doesn't mean people will stop buying it. They'll just stop buying other things and slow down the economy.
Except that the REAL point of a Trump Tariff is that is increases the price which U.S. consumers pay, and that additional price goes straight to U.S. government coffers. Trump IS sneakily taxing the American public (to pay for his $multi-Trillion deficit due to corporate tax cuts), who being the American public, mostly don't realize they are being taxed by their 'everyman' 'just-like-us'
very stable genius (in his own words!). You are correct in that a tariff
should be sparingly used as an economic tool to apply pressure—in a targeted and delicate and short-termed fashion. Trump does not understand any of this, nor does he care. None of these costs will directly affect him, so he is unconcerned. And I doubt he understands the further implications like an economic crash at all.
--Just a note: If
YOU have to tell people that A) you are '
stable,' and B) that you are a '
genius,' then C) You are
NEITHER, and everyone is aware of your deficiencies!
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Is it me, or is does it seem that this administration is actively trying to sabotage our economy?
I mean, what sense do these tariffs make? So far they've only caused problems. What is the end goal here?
One end goal is to bolster the Russian influence and world presence (which directly results in increased Rubles for Russian oligarchs; there are fascinating charts showing the massive billions in wealth laundered out of Russia and into the West over the course of the last 25 years) while destroying America. Our Kremlin-backed Orange Leader is serving his business interests and following Vladimir Putin's directions—torpedo the U.S. economy, destroy U.S. world political and military hegemony, remove us from the European sphere of influence, and best of all, alienate ALL of our once-allies in Europe and soon in Asia as well.
I’m tired of seeing political ideologues blame one party and one president every 4-8 years. I wonder if those same folks are intellectually challenged to not see that America has arrived where it is because of the dispicible leadership we’ve had for decades on BOTH sides. Every president and every party led congress will somehow lead to the end of times...