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Old Yesterday, 01:12 PM
 
Location: Florida
63,752 posts, read 34,849,409 times
Reputation: 10637

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Quote:
Originally Posted by rkcarguy View Post
What do you call the 13 TRILLION of trade deficit with China that has amassed over the last ~13 years?
They call it a trade deficits, because that is what it is.

Americans are more into buying Chinese stuff than vice versa.

Trump's economic policy is to tax the American consumer, and his policy is also to hand out money to people who are hurt by his policies. That is called a bail-out and/or welfare.
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Old Yesterday, 02:36 PM
 
Location: Bellingham, WA
1,050 posts, read 1,162,796 times
Reputation: 1185
Quote:
Originally Posted by Finn_Jarber View Post
They call it a trade deficits, because that is what it is.

Americans are more into buying Chinese stuff than vice versa.

Trump's economic policy is to tax the American consumer, and his policy is also to hand out money to people who are hurt by his policies. That is called a bail-out and/or welfare.
I'm sorry, but decades of broken/corrupt tariff structure has caused that. The Chinese are merely taking maximum advantage of it. Countries all around the world, UK as a prime example, HEAVILY tariff's imports (40%) from cheaper countries to protect their domestic producers and those jobs.

Even military spending for example which many may agree is excessive is still better than this trade deal we've had going with China. The government buys tanks or airplanes from a US manufacturer for example, it creates a domestic "circle" of money flow. Workers get paid wages building those things, the companies pay taxes, those workers pay rents/mortgages, buy cars, clothes, food, and consumables. When we buy more Chinese goods than they do US goods, our money just takes a one way trip and only comes back in the form of the Chinese trying to purchase (take over) our banks, utility companies, food companies, shipping companies, and other vital infrastructure.

Every change in policy for example, causes an effect and a "bailout" is fairly common. For example, years ago my state removed science from it's big high school test requirements which allowed the removal of 3 full time science teacher positions from each school district. State wide that was a lot of science teachers with no jobs and unless someone was retiring they weren't going to get another one. They qualified for unemployment and re-training as such and moved on to succeed in other careers. This is no different with the farmers, next year they can plant something different for another market and all will be well.

It's funny about the tariff's being "passed onto the consumer", I haven't seen anything I just have to have that was made in China that went up 25%. What I have seen is offerings from other countries and more USA goods which I am happy to purchase over Chinese goods.

I wish posters here would just be honest and say they are negatively impacted by the tariff's because they sell/import/transport Chinese goods instead of just constant TDS.
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Old Yesterday, 02:42 PM
 
601 posts, read 486,943 times
Reputation: 193
The irony of those that voted for Trump and now we have a record deficit on our hands LOL. We have a 4x bankrupt reality star throwing his executive order around folks. You can pinch yourself now or next year when things are much worse.

Amazes me people don't see Trump playing on the displaced anger Americans have for losing their jobs to automation and Nafta.

Get woke.
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Old Yesterday, 02:47 PM
 
Location: Bellingham, WA
1,050 posts, read 1,162,796 times
Reputation: 1185
Quote:
Originally Posted by NorCal77 View Post
The irony of those that voted for Trump and now we have a record deficit on our hands LOL. We have a 4x bankrupt reality star throwing his executive order around folks. You can pinch yourself now or next year when things are much worse.

Amazes me people don't see Trump playing on the displaced anger Americans have for losing their jobs to automation and Nafta.

Get woke.

The last couple decades of broken trade agreements left us with a large "bar tab", and I agree that it's risky and Trump is basically doubling down to try to keep the US in the long game. You know what the other option is? National economic failure.
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Old Yesterday, 07:42 PM
 
Location: Unperson Everyman Land
30,833 posts, read 20,346,096 times
Reputation: 8563
Quote:
Originally Posted by middle-aged mom View Post
The Emergency Economic Stabilization Act was signed by Bush in 10/ 2008.

The Act was passed on a bipartisan basis.

Loans were repaid. Treasury actually made a few $$$.

I remember all the Obama supporters defending the auto and bank bailouts with that same premise.


Meanwhile, is the left suggesting that we do nothing about China?
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Old Yesterday, 07:44 PM
 
Location: Unperson Everyman Land
30,833 posts, read 20,346,096 times
Reputation: 8563
Quote:
Originally Posted by Finn_Jarber View Post
No, it was not a blank check for the future presidents. It authorized a certain amount of money to buy troubled assets. As soon as it passed, Bush admin spent it on something else.


Are you pissed off that it isn't fat cat bankers getting their wheels greased?
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Old Yesterday, 08:01 PM
 
Location: Lost in Montana *recalculating*...
12,100 posts, read 15,707,005 times
Reputation: 12417
Quote:
Originally Posted by rkcarguy View Post
I'm sorry, but decades of broken/corrupt tariff structure has caused that. The Chinese are merely taking maximum advantage of it. Countries all around the world, UK as a prime example, HEAVILY tariff's imports (40%) from cheaper countries to protect their domestic producers and those jobs.

Even military spending for example which many may agree is excessive is still better than this trade deal we've had going with China. The government buys tanks or airplanes from a US manufacturer for example, it creates a domestic "circle" of money flow. Workers get paid wages building those things, the companies pay taxes, those workers pay rents/mortgages, buy cars, clothes, food, and consumables. When we buy more Chinese goods than they do US goods, our money just takes a one way trip and only comes back in the form of the Chinese trying to purchase (take over) our banks, utility companies, food companies, shipping companies, and other vital infrastructure.

Every change in policy for example, causes an effect and a "bailout" is fairly common. For example, years ago my state removed science from it's big high school test requirements which allowed the removal of 3 full time science teacher positions from each school district. State wide that was a lot of science teachers with no jobs and unless someone was retiring they weren't going to get another one. They qualified for unemployment and re-training as such and moved on to succeed in other careers. This is no different with the farmers, next year they can plant something different for another market and all will be well.

It's funny about the tariff's being "passed onto the consumer", I haven't seen anything I just have to have that was made in China that went up 25%. What I have seen is offerings from other countries and more USA goods which I am happy to purchase over Chinese goods.

I wish posters here would just be honest and say they are negatively impacted by the tariff's because they sell/import/transport Chinese goods instead of just constant TDS.
Are you kidding me? The cost of my metal roof was 15% higher in material goods. I had a cursory quote in 2017 pre tariff and got a new quote this May.

Also a commercial client of ours had a 750,000 commercial steel building quoted around the same time. They held off and the project costs went up by almost $300,000.

Farmers in MT have lost valuable wheat and pulse accounts that they may take years if not a decade to recover from.

Where do Trumpians live? Never-never land?
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Old Yesterday, 08:07 PM
 
Location: NH Lakes Region
359 posts, read 1,425,016 times
Reputation: 447
Quote:
Originally Posted by rkcarguy View Post
Even military spending for example which many may agree is excessive is still better than this trade deal we've had going with China. The government buys tanks or airplanes from a US manufacturer for example, it creates a domestic "circle" of money flow.
Unless, of course, the military funding allocated by Congress is pilfered to buy some of that incredible border fencing down south. Do tell how that's working out for the military.
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Old Yesterday, 08:51 PM
 
601 posts, read 486,943 times
Reputation: 193
Quote:
Originally Posted by rkcarguy View Post
The last couple decades of broken trade agreements left us with a large "bar tab", and I agree that it's risky and Trump is basically doubling down to try to keep the US in the long game. You know what the other option is? National economic failure.

I don't believe any president can stop economic failure. They can accelerate it with tariffs of course.
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Old Yesterday, 08:59 PM
 
601 posts, read 486,943 times
Reputation: 193
Quote:
Originally Posted by Snafu View Post
Unless, of course, the military funding allocated by Congress is pilfered to buy some of that incredible border fencing down south. Do tell how that's working out for the military.

Trump just took $89 million from a base here who had plans to rebuild submarine docks to protect them from constant wear and tear.


https://www.navytimes.com/news/your-...r-border-wall/
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