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Old 08-19-2019, 03:56 PM
 
16,413 posts, read 4,314,853 times
Reputation: 11523

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Quote:
Originally Posted by TMSRetired View Post
Just a year ago the Dems were cheering the proposed tariffs while the Repubs were against it.
What happened that the tables turned ?
Oh "the dems" were? Out of the 100+ million "Dems", I'm sure you can find plenty of them......but I sure didn't know any.

"The Dems" would work the old-fashioned way. That is, but actual work as opposed to tweets.
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Old 08-19-2019, 03:57 PM
 
5,362 posts, read 2,752,414 times
Reputation: 3620
Quote:
Originally Posted by TMSRetired View Post
So exactly what costs have increased ? What am I paying more for today because of tariffs ?
A few examples:

Among the losers in the dispute:

ENERGY COMPANIES

Energy stocks in the S&P 500 have plunged 10.2% since just before Trump sent his Aug. 1 tweet, the worst decline of the 11 sectors that make up the index.

National Oilwell Varco, for example, is based in Houston and gets most of its revenue from supplying drilling and other technologies in the United States, Saudi Arabia, Brazil and Norway. But its stock has plunged nearly 22%, seven times the loss of the overall S&P 500.

That’s in large part because the price of oil has sunk on worries that the trade war will do lasting damage to the global economy. If that happens, countries around the world will have less need to burn oil. The price of benchmark U.S. crude plunged nearly 8% on Aug. 1, its worst day in 4½ years.

BANKS

Financial stocks have been the second-worst performing sector in the S&P 500 in recent weeks as the prospect of less-profitable lending threatens banks’ profits.

Comerica, for instance, has been sucked into an industrywide downdraft. It is based in Dallas and has bank branches mostly in Arizona, California, Florida, Texas and Michigan. It has some businesses operating outside the country, but in Canada and Mexico, not China. Its stock has sunk 16.2% during the recent pick-up in trade tensions.

The escalation in the trade war has led a growing number of economists and analysts to warn about a possible recession. And those concerns have spread to the bond market, where interest rates have sunk sharply.

The market for interest rates has gone so haywire this month because of worries about a possible recession that long-term Treasury yields in some cases are lower than short-term yields. That’s trouble for an industry that relies on borrowing money at short-term rates, lending it out at long-term rates and pocketing the difference.

MICROCHIP COMPANIES

Companies that make microchips that go into laptops and other electronics have been some of the trade war’s biggest victims because of how dependent they are on China.

Consider Micron Technology, which got more than 57% of all its sales from China in its last fiscal year. Not only that, it needs China for rare earth minerals found there, and it also has significant manufacturing operations in the country.

Micron sank 2.9% on Aug. 1, when Trump announced he would extend tariffs to products that include laptops and mobile phones. That was more than triple the S&P 500’s loss.

Since Trump’s 2018 tweet that “trade wars are good, and easy to win,” Micron is down 8.5%, while the S&P 500 is up 7.9%.

INDUSTRIAL COMPANIES

Since Trump initiated the trade with China in 2018, the reaction in the market has been to sell big industrial companies whenever tensions rise. The temptation makes sense given how global the companies are, but it may be misguided, said Stephen Volkmann, an equity analyst at Jefferies who covers machinery and industrial companies.

“Every time there’s a tweet, I get a call and asked, ‘How does this affect CAT?’” Volkmann said, using the ticker symbol for heavy equipment maker Caterpillar. “CAT tends to make what they sell where they sell it.”

That means many of its products do not have to cross borders before they are sold, which offers some insulation from the effect of tariffs. Other industrial companies have also already absorbed tariffs and successfully passed the costs on to their customers. But “it’s a little like shouting in the wind to get anyone to care,” Volkmann said.

When asked if any of the industrial companies he follows is much more vulnerable than others because of this next round of tariffs, he struggles to name one in particular.

“The most important part is: Do we enter a recession because of them?” he said. “If that’s true, that’s true for all my companies.”



https://news.wttw.com/2019/08/19/tra...s-energy-banks
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Old 08-19-2019, 04:00 PM
 
Location: Seattle
1,311 posts, read 278,743 times
Reputation: 1343
Well the Republican Party has wanted a national sales tax for years. It probably plays better with the base to implement them as Tariffs. Plus they're inflationary, so they'll be able to "tax" retirees on a fixed income at the same time. A cunning plan.
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Old 08-19-2019, 04:01 PM
 
16,413 posts, read 4,314,853 times
Reputation: 11523
Quote:
Originally Posted by TMSRetired View Post
So exactly what costs have increased ? What am I paying more for today because of tariffs ?
It's very hot here in New England...has been all summer, therefore proving (even without the Scientists and all data) that Global Warming is very real. Men are here too. Therefore it must be man-made Global Warming.

You wanted an example....and the major one is easiest to find. Just the Trump subsidies to the Farmers - which YOU AND ALL CONSUMERS pay for (remember taxes?) are costing you. Now. Lots.

That's already a nice chunk especially since it's all borrowed money.

But the really big costs will never be the tariffs...or even the retaliations. All of these add to a measly 200-250 BILLION per year, which would only be about $1,000 for each Adult Consumer. Fact is, 3/4 of these..or more...will never go into effect.

What is lost mostly is
Good will
All the businesses that have to move and plan...and then plan over again
and all that stuff.

That will cost far move over the decades then the pesky tariffs.
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Old 08-19-2019, 04:02 PM
 
Location: AZ
2,187 posts, read 460,971 times
Reputation: 979
Quote:
Originally Posted by TMSRetired View Post
That wasn't the question I asked. I asked if you read the Fed Report that was linked in the article.
It was what you stated, and my response was on key. Put the (((globalization))) card back in the StormFront deck.

And yes, I read the report.
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Old 08-19-2019, 04:10 PM
 
1,659 posts, read 337,179 times
Reputation: 1916
Quote:
Originally Posted by craigiri View Post
Oh "the dems" were? Out of the 100+ million "Dems", I'm sure you can find plenty of them......but I sure didn't know any.

"The Dems" would work the old-fashioned way. That is, but actual work as opposed to tweets.
Well Bernie Sanders would be one.
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Old 08-19-2019, 04:13 PM
 
10,078 posts, read 4,712,909 times
Reputation: 13178
Quote:
Originally Posted by craigiri View Post
Ah, so those dozens of business people in various other industries that I have heard and saw interviews with (with names and company names) and all the articles with same....that is just being made up?

This is fantastic.

It's a "trade war" that Trump started and is by far the main aggressor in. When you opponent puts up a hand to defend himself he's not doing anything unexpected.

You are actually proving my point about Trump being incapable of most anything...or maybe you agree? He plays a weak game of checkers against the odds of Chess. That means he is incapable by a factor of millions...so it's not even close.

Yes, they are pointing fingers at apparently easy scapegoats.



Trump is playing 3D Chess, you liberals just don't have the intellect to understand it so of course it all appears as nonsense to you, just as anything you do appears to your dog.
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Old 08-19-2019, 04:13 PM
 
1,659 posts, read 337,179 times
Reputation: 1916
Quote:
Originally Posted by craigiri View Post
It's very hot here in New England...has been all summer, therefore proving (even without the Scientists and all data) that Global Warming is very real. Men are here too. Therefore it must be man-made Global Warming.

You wanted an example....and the major one is easiest to find. Just the Trump subsidies to the Farmers - which YOU AND ALL CONSUMERS pay for (remember taxes?) are costing you. Now. Lots.

That's already a nice chunk especially since it's all borrowed money.

But the really big costs will never be the tariffs...or even the retaliations. All of these add to a measly 200-250 BILLION per year, which would only be about $1,000 for each Adult Consumer. Fact is, 3/4 of these..or more...will never go into effect.

What is lost mostly is
Good will
All the businesses that have to move and plan...and then plan over again
and all that stuff.

That will cost far move over the decades then the pesky tariffs.
Can none of you give me a specific example ?

This is the 2nd of 3 waves of tariffs. What has increased since the first tariff was implemented ?
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Old 08-19-2019, 04:20 PM
 
1,659 posts, read 337,179 times
Reputation: 1916
Here you are..Dems cheering the tariffs in 2018.

https://www.ksl.com/article/46273347...hile-gop-frets
President Donald Trump's announcement that he will impose stiff tariffs on imported steel and aluminum has labor unions and liberal Democrats in the unusual position of applauding Trump's approach, while Republicans and an array of business groups are warning of dire economic and political consequences if he goes ahead.
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Old 08-19-2019, 04:20 PM
 
Location: AZ
2,187 posts, read 460,971 times
Reputation: 979
Quote:
Originally Posted by TMSRetired View Post
Can none of you give me a specific example ?

This is the 2nd of 3 waves of tariffs. What has increased since the first tariff was implemented ?
“Specific Example”, courtesy of the New York Fed:

Quote:
Now, more than 10 percent of imports face a tariff rate greater than 10 percent, whereas only 4 percent had such high tariff rates in 2017.

In general, we expect an import tariff to increase the domestic price of the good on which it is imposed. For example, when tariffs of 20 percent to 50 percent were imposed on washing machines in late January 2018, the categories in both the Producer Price Index (PPI) and the CPI that encompass these products jumped up almost immediately, as seen in the chart below.
https://libertystreeteconomics.newyo...ic-prices.html
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