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I cued up US Farm Report on the DVR to see what farmers think of China shutting down all US ag imports. It becomes obvious that we really are at war. "Trade War" is not just an euphemism.
According to the USFR panel of experts, it's going to bankrupt farmers under 40 that don't have a strong equity position in their farms. If you want to see where the next recession is going to start, it's right there in The Heartland, and China has planted the seed.
All the markets are nervous. This could seriously damage the US agricultural sector. When investors are nervous, they seek safe haven for their money, and that means the dollar, which is flying high. Farmers can't sell to the rest of the world because the dollar is so ridiculously high. Meanwhile, much of the impact of tariffs on Chinese imports is blunted by the strong dollar. Imports are cheap, and our balance of trade is getting worse.
BTW, the total embargo of US ag products is a psychological ploy. It's not like they were buying that much anyway. One of the first things they did was say, "*********," and take their business to Brazil and Argentina.
Who are we at war with?? Is trade is a "war" to be won or lost? No, trade is not a war to be won or lost. Do you have a war with your supermarket when you give them money and, in exchange, they give you stuff? I doubt you'd call it that. So, when the US gives China money and we get stuff in return, why is that a "war?"
Last edited by James Bond 007; 08-11-2019 at 03:05 PM..
There is a reason why farmers still support President Trump. Yes, there is temporary pain, but they respect a president who is actually fighting for them as opposed to all the others who merely paid them lip service.
There is a reason why farmers still support President Trump. Yes, there is temporary pain, but they respect a president who is actually fighting for them as opposed to all the others who merely paid them lip service.
China started the war years ago.
We finally have a President willing to fight back.
"Fighting back", as in showing up to a gunfight with a slingshot. Starting a fight he can't win, and taking us all down with him. The Chinese are playing the long game and will win in the end, plus they won't forget this, as Trump most certainly will, if he hasn't already. Hard to say if we can ever recover lost markets.
Last edited by odanny; 08-11-2019 at 03:16 PM..
Reason: forgot a preposition
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