DawgTalkers.net Forums DawgTalk Palus Politicus Trump's Economy is Bad News for Dems (Socialists)

The same could be said about soap dishes and ceramic garden gnomes.

I will agree with you. Ivanka should either run her business and get out of government or she should work for her father and put her business in some kind of a holding company until she's done... either way it's still very possible the two would overlap but at least it would make her LOOK like she was trying to keep the two separate and not take advantage of any special circumstances....

With that said, the democratic front runner right now, who has double the polling numbers of the next closest person... when he was VEEP was threatening to withhold $1 billion in funds unless Ukraine fired a top official who, at the time, was looking into a company his own son was being paid $50K/month to build a business relationship with... So it doesn't appear that this appearance of government/business "ethics" matters all that much to most democrat voters either...

i agree.

all i can say to you is that im not a biden supporter.

You and I have gone round and round.. but I will testify that you have always tried to be consistent in your values..

We can talk all day about politicians enriching themselves while in office, some becoming billionaires....Clintons.

How many Presidents and staffers have forgone their government salaries while holding their position?

Answer; 3 Presidents, Hoover, JFK and Trump... Kushner and Ivanka do not take salaries either but NOBODY wants to talk about this.

The Clinton's got rich AFTER they left the White House. No need to keep perpetuating lies.

You know what they say.... you get what you pay for.

Swish, I don't know if many noticed, but in the filing from the US Trade commission, there were actually two different filings...one was the filing of 200 bn of product going from 10 to 25% tariff which was enacted today. The other filing which has not been enacted yet but was threatened by Trump was a tariff on all the rest of $325 billion of Chinese imports-this is more of the finished products you would buy at Walmart

New Round Of Tariffs Takes A Bigger Bite Of Consumers' Budget
3:32

May 10, 20195:01 AM ET
Heard on Morning Edition
Yuki Noguchi
YUKI NOGUCHI

Twitter

A cargo ship prepares to berth at a port in Qingdao in China's eastern Shandong province on Wednesday. New tariffs went into effect Friday.
AFP/Getty Images
The prices of the things we buy, from floor lamps to canoes and bicycles, are slated to go up, literally overnight, as the Trump administration makes good on a promise to raise tariffs on $200 billion worth of imported Chinese products.

With trade talks between the U.S. and China yielding no deal, consumers and the businesses that serve them say they're bracing for bigger ripple effects.

Retailers, manufacturers, small farmers and multinational conglomerates are united in their concern about the potentially damaging impacts of additional tariffs to their businesses and their consumers.


The way that reverberates through Jim Kittle's family furniture business is indicative of how that might pass down through to consumers.

Kittle's Furniture started in 1932, expanded throughout Indiana and has remained in the family for three generations.

About 30% of all the household furnishings in their stores are made in China, then shipped by boat to the United States. As of Friday, new tariffs increased from 10% to 25%, raising the underlying cost of those items. (Tariffs of 10% on $200 billion of Chinese imports took effect last September. And back in April of last year, the Trump administration levied tariffs of 25% on $50 billion worth of Chinese goods.)

Determining new sticker prices will be a challenge for Kittle, who already has goods on order. If those goods shipped after midnight Friday, they were subject to the new tariffs.

"Is that going to affect the first container that arrives in Los Angeles?" he asks. "And if it is, we're going to have to reprice those goods on that container."


Kittle has been through this before. Last fall, a 10% tariff took effect. Back then, Kittle and his Chinese suppliers agreed to absorb most of that. The cost to consumers only increased 3%.

This time around, his suppliers can't afford to do that. And neither can Kittle nor other retailers — their profit margins are already so low.

Moreover, even the furniture that isn't made in China still often include parts manufactured in China, so those, too, will increase in price.

China took measures to counteract the effect of those price increases. In addition to imposing its own tariffs on U.S. imports to China, the country devalued its own currency. That had the effect of making Chinese products cheaper, relative to the U.S.

"Of course that's going to nullify some of the intended effect Trump is aiming for, which is to shift American producers and consumers away from Chinese goods," says Menzie Chinn, an economics professor at the University of Wisconsin, Madison.

Still, the previous rounds of tariffs are already making life more expensive. They've increased consumer costs by $1.4 billion a month, according to experts from the Federal Reserve Bank of New York and Princeton and Columbia University. To date, tariffs have largely affected raw materials like chemicals and wooden beams used to make other products, so the cost increases appear incremental to the consumer. But additional new tariffs would boost prices on a broader number of finished goods — things consumers actually buy, like bicycles.

This latest round of tariffs will add another $500 a year in costs for the average American household, says Katheryn Russ, an economics professor at the University of California at Davis. And that could grow. President Trump has pledged to broaden tariffs even further to all Chinese imports — including big-ticket items. "Once the tariffs go onto cellphones, I mean then you're going to see people scream," she says.

Food Fight: Trump Administration Levels Tariffs On Mexican Tomatoes
THE SALT
Food Fight: Trump Administration Levels Tariffs On Mexican Tomatoes
The sticker price issue is only one of Jim Kittle's concerns. Indiana's main industries include farming and car manufacturers, which are dealing with retaliatory tariffs China imposed on American goods. That means Kittle's customers are already squeezed. "If they don't have any money even to buy a tractor, they're not going to buy furniture," he says.

That precisely what's happening not far from one of Kittle's stores in Lafayette, Ind., to Brent Bible, a farmer.

Since China imposed tariffs last fall, Bible has nowhere to sell his soybean and corn crops. And that situation just got worse, because the futures trading market started planning for higher tariffs earlier this week, Bible said. "Just in the last three days of trading, we've seen the price reduction that equates to about a $50,000 loss for us," he added.

Bible isn't just running a business, he's also a consumer, and increased tariffs on steel and aluminum have raised prices on tractors and farm equipment he needs. As both a supplier and a consumer, he says tariffs are hitting him on both ends. "We are buying those products at an increased price, and we're paying that tariff."

https://www.npr.org/2019/05/10/721921317/new-round-of-tariffs-take-a-bigger-bite-of-consumers-budget

How Are Tariffs Imposed?
3:35
DOWNLOAD
TRANSCRIPT
May 10, 20194:02 PM ET
Heard on All Things Considered
Now that President Trump has increased tariffs from 10 to 25% on Chinese goods, who will pay?

ARI SHAPIRO, HOST:

Early this morning, President Trump was on Twitter claiming falsely that the tariffs on Chinese imports are being paid by China. He wrote, tariffs are now being paid to the United States by China, of 25%. That is not how this actually works. So to help us understand the nuts and bolts of how tariffs are paid, we are joined by Howard Gleckman. He's a senior fellow at the Urban-Brookings Tax Policy Center. Welcome.

HOWARD GLECKMAN: Hi.

SHAPIRO: OK. So imagine that a container full of Chinese-made bicycle parts leaves China tomorrow and takes a couple weeks across the ocean and arrives at, let's say, a port in Los Angeles. What happens then with these tariffs?

GLECKMAN: So the one thing that doesn't happen is the Chinese government doesn't pay the tariff. What does happen is the importer has to pay for those goods at the port of entry, those goods are then released, and the importer can then do whatever he does with them - keep them himself or sell them to another user in the United States. But essentially, that importer is required to pay a customs duty at the port of entry before those goods are released to him.

SHAPIRO: OK. So the American importer is writing the check to the U.S. government. Is that actually money going into the Treasury's coffer?

GLECKMAN: Yes, it is, absolutely.

SHAPIRO: So if the American company buying the Chinese goods has to pay the tariff, can they turn to the Chinese supplier and say, look, I'm paying 25% extra for your bicycle parts - give me a discount on the purchase price?

GLECKMAN: They can try. It depends on what the product is, and it depends if there is a competitive product out there that the importer can substitute for the Chinese product. In some cases, they can, and in some cases, they can't.

SHAPIRO: Earlier today on "Morning Edition," we heard from a man who owns a furniture business. His name is Jim Kittle. He said that when the tariffs were 10%, he and his Chinese supplier split the added costs. But that won't work now.

(SOUNDBITE OF ARCHIVED BROADCAST)

JIM KITTLE: The vendor is no longer going to be able to take anymore. The retailer is not going to be able to absorb it because right now retailers are, at best, marginally profitable, and furniture is no different.

SHAPIRO: How do you respond to that? What do you expect to happen?

GLECKMAN: Well, I think that's right. So I think what the Chinese company may do is look for a buyer somewhere else; maybe they'll sell that furniture to a buyer in Europe or in Singapore. They can find other buyers, too. Remember, we're not the only consumer of Chinese goods in the world. We're a very big consumer of Chinese goods, but we're not the only consumer of Chinese goods. Where this also gets complicated is we've been talking about things simple, like bicycle parts or furniture, but these tariffs would also be imposed on what are called intermediate goods, the parts that go into manufacturing of bigger products.

And there you have these supply chains which are very complicated. You may have a particular screw or a particular other piece of equipment that really only fits a larger piece of equipment that comes from China, and it may take months or more for the manufacturer in the United States to find another supplier for that part. So when you're talking about pieces of equipment or other materials that are in a supply chain, it gets even more complicated, much more difficult for the American manufacturer to find a replacement for that Chinese good.

SHAPIRO: The president has threatened to impose more tariffs on goods, like shoes and clothing, that might hit consumers a little more directly. Would you expect to see companies right now stocking up on those kinds of items to try to beat the higher cost?

GLECKMAN: The fact that the president has been threatening these tariffs has been known for months and months, and I suspect there are probably some American retailers that knew this was coming and probably have been stocking up.

SHAPIRO: Howard Gleckman is a senior fellow at the Urban-Brookings Tax Policy Center. Thanks for joining us today.

GLECKMAN: It's a pleasure, Ari. Anytime.

Just imagine the rebound when this gets figured out.

Bam! consumer prices go up, Bam! Sales go down for a time but then recoil to standard.
Bam! the countries reconcile and tarrifs decrease, costs return down.

Bam! do you think retail sticker price falls??? Heck no,

I.E. super profits!

Just imagine the rebound,

So Bullish right now, maybe only the 2nd time in a lifetime,
this is like pruning a tree,


in other news, "ON" the minimum wage; if rasiing it is so good, just raise it to 275 dollars per hour, with hard enforcement, pay everyone what a lawyer makes, and see how many folks lose a job in a short time.

A minimum wage has a limit.

New thought.

How will Trumps' tariffs affect "knock offs" or the counterfeit goods underworld?

No,, Of course the consumer won't be the one that pays for Trumps Tariffs... No,, Of course not

https://www.marketwatch.com/story/buying...iffs-2018-11-14

Trump Says U.S. Will Purchase Crops to Offset China Losses

https://finance.yahoo.com/news/trump-says-u-boost-crop-114618990.html

Sounds like socialism.

Suck it up!

This is about more than just Trade, it is about China having stolen a Trillion Dollars in Intellectual Property over the last decade and not having to pay for research and development!

This is about China building their Military and Economy on our dime!

So just like during World War Two, sugar was hard to get as we sacrificed to win the big picture!

Stop whining and suck it up! Support the Presidents efforts to fix this mess for America's Future!

This is the correct and the right attitude. Every single American should be applauding what the president is doing right now trying to fight China. We have continued to let them take advantage of us economically for years and put our collective heads in the sand and ignored it! To finally have a president that stands up there and says no more is very exciting and exactly what we need. This is the time to make the trade even between the nations and I'm all for that.

If anyone disagrees, they're either shortsighted or ignorant on economic study with respect to short run vs long run. The long run economic impact once everything is figured out would be astonishing.

Remember, China also needs us more than we need them. The United States is a self sufficient nation and we didn't always used to trade with China, just saying. In terms of world history that is a relatively new thing.

On another subject, we need to audit the federal reserve as soon as possible. Some in government have been calling for this for over 30 years. Personally I think the people who run the federal reserve are a bunch of morons. They shouldn't have that type of control over the economic system to artificially print more money, raise, lower interest rates. It creates inflation and downturn. I'd like to go back to the gold standard as well where you can only trade, spend, and do things with the fiat money of however much you have backed by gold. If you try and spend an amount of money that is NOT backed by the amount of gold you currently have or will have, then you can't do that because its a fixed asset not some imaginary value.

Yes, we agree on dealing with China, as do many Democrats at the top in Washington, but I am not very informed on the Federal Reserve.

I do know the Fed is very powerful and that much power is easily corrupted.

Wow, I was basically told I was full of crap by a couple posters on here when I said this....interesting!

A side note for those saying Trump spared his daughter and her clothing line; What was one of the 1st materials Trump imposed tariffs on? What material is used to construct Trumps buildings? Man are we selective in our arguments

so socialism is only cool when republicans do it. gotcha

Temporarily helping our farmers while the Trade negotiations are in progress is not Socialism just like temporarily helping victims of Hurricanes is not Socialism.

Once the crisis has passed, we return to free markets.

nothing about this says temporary. this is socialism, and you support it.

there's nothing wrong with that, btw. but you and others need to stop the demonizing non stop when you've just shown the entire board you're all aboard when it suits your agenda.

I don't think an industry has been bailed out more than domestic farmers. Many are even paid to not produce any crops to avoid tanking food prices.

No. Allow me to help you...

so·cial·ism
/ˈsōSHəˌlizəm/
noun

a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.

Not temporarily helping farmers during trade negotiations.
Not temporarily buying up cheese to stabilize prices and temporarily giving that Government Cheese out to the poor.

No.

Socialism.

So it has nothing to do with healthcare or programs for the poor.

Thanks for clarifying that.

It's all inclusive in 40's posted definition Pit....some guys just want to post in the contrary for the sake of posting

This will never be a socialist country except when it suits Trump and the GOP.

Trump threatened even more tariffs after 2020 on Twitter.

Trump and company are making bank with pay to play... don't be an ostrich.

He should just ban all Chinese goods and goods containing Chinese components from January 1, 2020; unless a favorable deal is made. Watch chit get done then.

These tit for tat tariffs just hurt Americans.

Funny that you suddenly understand the definition and think you recognize it when it's weaponized against your guy... #FLIPFLOP40

First: China is the largest holder of US treasury notes next to the US. They could bankrupt us at will, but would suffer the same fate.

Second: The fed is a scam and should be abolished. Borrowing money that is created out of thin air then paying interest on that money is BS when the government could issue it's own currency as needed to satisfy demand. BUT we can never go back to the gold standard because nobody can produce the gold we had once upon a time, and there wouldn't be enough to cover 1/10th of the currency in circulation even if we could. Gold should be used for electronics and medical devises only IMHO.

All my headphone jacks, speaker cable, and interconnects have gold in their contacts. Gold is a wonderful energy conductor.

It's also very pretty and functional on my bow. 14k is used extensively in the carving of the 'frog' (that hand-carved mechanical/structural component that attaches the horsehair to the stick). Some day, I'll post pics of it online. It represents the absolute synergy between craftsmanship, Art and free market commerce:

1. It's a tool.
2. It's a hand-carved, hand-crafted object that cannot be replicated on an assembly line.
3. It's a one-of-a-kind expression of High Art on the same level as paintings hung in a museum.

Yep.
Gold: jewelry is its most wasteful use.


.02

Gold is also extra cool because the surface gold found on Earth came from either Supernovas or collisions of Stars.

I might be ok with wearing a supernova on my finger.

He is supposed to announce tomorrow when the tariffs on the other 325 billion of finished goods will take effect-that also will go to 25%.

The President also ordered us to begin the process of raising tariffs on essentially all remaining imports from China, which are valued at approximately $300 billion," Lighthizer said.

Also, I work for a rather large electrical construction company and we already got several notices about prices going up this Wednesday and Friday-I have a large hospital project that I have been trying to get 2 additional projects nailed down over this weekend because on the one if we will have an increase of approximately 16% to the lighting if we don't close the project in the next couple days-That increase is about 55k on one project

I feel you. We have budgets out on a few projects. The costs on our LED lighting increasing will dig into profits.
The steel tariffs hurt us deeply last year. The cost of steel in general has driven the price of our creations up. With that we’ve had to eat some profit and pass the rest of the costs on to our clients... which has lead to us losing some gigs.

Gold and Silver are excellent hedges against inflation and Socialism.

Inflation:
2 dimes bought a gallon of gas long ago when gas was 20 cents per gallon and those same 2 dimes will buy you a gallon of gas today, because they are silver.

Socialism:
Those in Venezuela who own gold and silver are still surviving because today's price of gold in Venezuelan Bolivars is 6,667,202.96 /Ounce.
Cashing those in will buy you everything you need as their economy collapses.

Single-Payer healthcare?

Give us examples of Americans running to Canada, Britain or France for healthcare. You'd be out of your mind to do that.

Because you can't run there and be covered by their government healthcare. You love to muddy the waters. Crack a book sometimes before spewing your Fox News talking points.

Canada's single-payer healthcare system forced over 1 million patients to wait for necessary medical treatments last year. That's an all-time record.

Those long wait times were more than just a nuisance; they cost patients $1.9 billion in lost wages, according to a new report by the Fraser Institute, a Vancouver-based think-tank.

Lengthy treatment delays are the norm in Canada and other single-payer nations, which ration care to keep costs down. Yet more and more Democratic leaders are pushing for a single-payer system -- and more and more voters are clamoring for one.

https://www.forbes.com/sites/sallypipes/...t/#2afa91ba3e7d