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Everyday on CNBC when the markets go down, the head line is "markets are going down because the trade war will slow down the economy." Then a day later when it rallies the headlines is, "markets go up because traders bet the trade war is temporary and just a negotiation tactic." This repeats everyday as the markets move. They both can't be right every other day.
I cut the cable TV cord 9 yrs ago and am a happier human for it. I no longer watch TV news or any live TV. No commercials, no blah-blah-blah in the background. CNBC is clickbait for suckers.
I cut the cable TV cord 9 yrs ago and am a happier human for it. I no longer watch TV news or any live TV. No commercials, no blah-blah-blah in the background. CNBC is clickbait for suckers.
No commercial? What? How else are you going to learn about Peyronie’s disease?
Yeah, I don't put a lot of faith into CNBC, the same financial network that completely missed the biggest economic story of the decade in the 08' meltdown.
That said, I just a memo from my FA firm that, to paraphrase, it's one thing to get into a tariff dispute when the GDP is up 3+%, quite another when that falls off which if you use the Purchasing Managers Index as a leading indicator just hit a 3 year low for the US.
I really don't think anything good is going to come out of it for us, frankly.
That's the standard line we're fed by the Trump hating media. But the truth is China has been ripping off the Western countries for decades and everyone knows it. No one wants to do anything about it. In short run, a trade war hurts us. And the problem we have in America is we're all about the short run--with everything. And China knows it. That's why they've been getting away with what they've been doing for so long. But China's the one with the huge trade surplus over America. China's the one benefitting from stealing our technology, etc. A positive outcome for America is far from assured. However, if we keep letting them rip us off, they'll keep doing it.
That's the standard line we're fed by the Trump hating media. But the truth is China has been ripping off the Western countries for decades and everyone knows it. No one wants to do anything about it. In short run, a trade war hurts us. And the problem we have in America is we're all about the short run--with everything. And China knows it. That's why they've been getting away with what they've been doing for so long. But China's the one with the huge trade surplus over America. China's the one benefitting from stealing our technology, etc. A positive outcome for America is far from assured. However, if we keep letting them rip us off, they'll keep doing it.
If you include services and HK which China owns, our deficit is around 300b with them. Not that the number means anything.
Regardless of that, the jobs aren't going to return here and a trade war is only going to hurt for no reason. Since we will just pay the tariff anyway on their goods while China sources from places like Brazil for our substituted items.
Then when China cuts off our rare earth minerals, starts pushing out our service companies or bans our big companies from doing business there and it all goes **** up what exactly will we be gaining again? This is about jobs coming back right? Not happening. This is about an accounting entry, the same entry you have with a grocery store you shop at which frees you up to other more useful things for the economy. Ever been to China? I have. People are demented if you want those factories, landfills and our rivers to look like that and if you think you can do that kind of manufacturing here while importing all the stuff you'd need to get it done then you're nuts.
The entire idea is stupid from the start. IF the jobs go anywhere, they won't because the companies want access to billions of Chinese, but if they go anywhere it will be Asia. People supporting this policy are ignorant.
If we want to be world leaders in the future we shouldn't be focusing on low profit, highly destructive manufacturing of cheap goods. We should be investing in alternative energy, fusion, space elevators, moon base, space mining and pushing to extend our technological advantages.
If you include services and HK which China owns, our deficit is around 300b with them. Not that the number means anything.
Regardless of that, the jobs aren't going to return here and a trade war is only going to hurt for no reason. Since we will just pay the tariff anyway on their goods while China sources from places like Brazil for our substituted items.
Then when China cuts off our rare earth minerals, starts pushing out our service companies or bans our big companies from doing business there and it all goes **** up what exactly will we be gaining again? This is about jobs coming back right? Not happening. This is about an accounting entry, the same entry you have with a grocery store you shop at which frees you up to other more useful things for the economy. Ever been to China? I have. People are demented if you want those factories, landfills and our rivers to look like that and if you think you can do that kind of manufacturing here while importing all the stuff you'd need to get it done then you're nuts.
The entire idea is stupid from the start. IF the jobs go anywhere, they won't because the companies want access to billions of Chinese, but if they go anywhere it will be Asia. People supporting this policy are ignorant.
If we want to be world leaders in the future we shouldn't be focusing on low profit, highly destructive manufacturing of cheap goods. We should be investing in alternative energy, fusion, space elevators, moon base, space mining and pushing to extend our technological advantages.
It isn't necessarily about old jobs coming back. There are many issues, including them ripping off patents, copywrights, and technology transfer, as well as them not letting us into their markets.
It isn't necessarily about old jobs coming back. There are many issues, including them ripping off patents, copywrights, and technology transfer, as well as them not letting us into their markets.
Tariffs the US consumer ends up paying isn't going to change any of that. Which is why tariffs were stupid from the get go. Even if demand drops 10%, we account for 15% of their exports. They aren't going to change what works for them over that. The idea is laughable.
The way to combat China is TPP, working with allies to pressure China simultaneously while propping up other players in Asia to create competition. There are other large markets to exploit in the area, there are 4.5 billion people there, china is big but it isn't everything. There is plenty of room on the continent and we could end around China reducing their influence by entering their sphere and working with everyone.
Instead what we did was cancel TPP, cozy up to NK, and **** all over Europe with tariff and NATO threats at the same time we went after Canada and Mexico. Let us not forget the Putin bromance while they work to destabilize our old, strong sphere of influence. Now we have a few lines rewritten in Nafta that likely will never see a vote, most of which helped Mexico anyway and tariffs on Europe on hold for 6 months while we sort through China that isn't even interested in talking to us and we walked from TPP.
:thumbsup sounds like a **** show
Last edited by aridon; 05-25-2019 at 01:03 AM..
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