The left is doubling down hard on progressives. It’ll be a disaster when they take over too
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- Thread starter twenty02
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Can you explain the mindset of the people twisting themselves to explain why this is all good?
When they were targeted, I thought they were stupid, but I kind of understood it as a negotiating ploy. Then it became apparent that he was off his rocker with them, especially coupled with all of the 51st state talk and imposing them across the board.
His bluff has been called and we're all gonna end up forced to take a bite out of this giant shit sandwich.
Don't condemn us for what we haven't done yet. It's still possible we see a wave of reasonable Dems win in 2026, and a nice mainstream candidate in 2028.
*Spoiler alert: no, it's not.
If tariff revenue is used to cut other taxes, that is even more inflationary then just tarrifs on their own.
The mindset is hickoryhurryinghoosiers tribalism. Dumb. The rationale Brad set out from something he copied the other day. Not that he subscribed to just shared. It’s sound if it wasn’t illusory. Tariffs on specific industries goods calculated etc makes sense. This is just haphazard and mindless
And another thing. It's much easier to manage portfolios and distributions when equities and fixed income perform in a traditional manner. 2022 was challenging with spx down 18% and agg down 13%.
On the flip side, if all of the tariff revenue is used for new tax cuts, that would be much more inflationary, since the demand side of the economy would be better supported.
In terms of monetary policy, tariff hikes without more tax cuts and uncertainty suppressing spending would call for more interest rate cuts compared with the baseline. But if the tariff shock is more inflationary, the Fed could be forced to put rate cuts on hold for an extended period.
Yes totally agree with that. And why the inflation worry. There's no where to hide in a stagflation world.
Bill Ackman warns Trump to call a timeout on trade war: ‘This is not what we voted for’
I disagree. We will see. I will say if Trump doesn't stop with all his shit he will crash the economy and they'll likely print a shit of money, which will be inflationary and accomplish nothing besides getting killed at midterms.
The system has screwed them over and they're pissed off. The notion that we shut down the entire global economy and markets go up 25% 2 consecutive years is beyond f#cking stupid. There are trade offs for all the bullshit governments and central bankers do and it disproportionately falls on the bottom 3/4s of society. They're sick of it is the answer.
MAGA isn't conservative in that way. They're an outgrowth of the Tea Party, formed in the aftermath of the Great Recession, where a lot of people said "hey, these economists don't know shit." [rightly or wrongly]
No I disagree with that. The Tea Party types... At least those elected to office... Were all pretty much libertarians. And would never support this type of policy.
MAGA is the Pat Buchanan platform raised from the dead.
Or Bernie Sanders. Trump probably to the left of Bernie at this point re: trade.
You wouldn’t even know how to **** off unless someone on Twitter told you how
The irony of telling people to take their medicine and take in the ass so the president can play Dr Frankenstein, while being an anti-vaxxer, is delicious.
When this nightmare of a bullshit economic experiment (that no one has ever tried before), ends, let me know how much you love your American made strap a dil
Trump literally piggybacked on the script of the tea party in 2016. They gave rise to rebuke Obama. Gov spending etc. Todd akin locally won the pub prim as a tea party. Maga is very much the core sentiments of the tea party, culturally, and gov reduction etc
What I can’t understand is how the executive branch has the authority to impose tariffs on other countries. Where are the checks and balances?
No I'm talking about trade policy. Which is all the Sowell video was about.
That is a Pat Buchanan/Ross Perot platform from the 90s. The Reform Party... Which Trump actually ran for President under in 2000.
Constitutionally the executive does not have that power. But Congress has delegated their power to tarriff to the executive for 'emergency' situations. Of course Trump has now basically claimed all world trade with the US is a national emergency.... Which is a ridiculous farce, obviously.
Congress is already starting to get up off the mat and trying to pull that power back in the last week.... Not that they're going to be willing to go override a veto
Important lesson we are learning now: easiest way to avoid constitutional crises is for all but one party to just back the f*ck out and let whatever happen.
So tomorrow is the day people start stepping out of windows.
I said those elected to office. There has always been the protectionist elements within the Republican party. Going back forever. But none ever gained office. Nor ever ran on it.
Informal surveys show that few tea party candidates for Congress ran against free trade. In fact, some high-profile tea party candidates embraced it as central to their message. In Illinois, for example, Bobby Schilling defeated Democratic incumbent Phil Hare with a campaign that emphasized, along with standard tea party themes, the benefits of free trade, especially for major regional employers such as Caterpillar and John Deere.
US futures holding up better than expected so far. Off to watch 1923. Tomorrow will be interesting.
So glad I didn't take that new job 9 months ago. Seniority will be my armor when the layoffs come.
Cool. I'm referring to the voters. The Tea Party were anti-trade, in favor of protectionism per the polls. And it's followed through to MAGA. Citing Sowell on this point won't help, I don't think, because I think a lot of these people saw the Great Recession as a repudiation of a lot of economics.
The Tea Party originally didn't give a shit about trade one way or another. They were pissed about the bank bailouts and the takeover of GM with tax money while none of those responsible paid any kind of price.
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