OT Big BREXIT Bonus

[mygiddypant]

The podcast you want is called 'Import-extort: what to make of Donald Trump's titanic tariffs.'

[fivetide]

The idea that it is 'a big brexit bonus' is a fallacy. When the turkeys voted for Christmas 5 years ago non of this was on the cards so trying to say it was.... hmmmmm plus we've lost enough because of it this is a more like a minor recovery, potentially.

What Trump is trying to do isn't a bad idea. It's a shame we didn't do more of it here, years ago. Selling off Steel etc to India and China so they could close the plants down. It should be better to make certain things in your own backyard than ship it half way around the world.

That said, consumers want cheap clothes and cheap food. It's a global economy and while there was some existing investment in the US (JCB have said they are going to double the size of the plant they are building over there) it isn't possible to do this quickly.

That plant alone will be several years before it comes online and it ignores the fact that car plants don't 'make' the car. They assemble them from parts supplied as just in time deliveries so they don't need to hold huge stocks. It means every single component manufacturer needs to move there and that just isn't feasible.

Nike are one of the companies taking a hit today. US firm, makes a lot of stuff in Vietnam. All they'll do id focus on markets where there aren't tariffs. They'll sell less trainers at a higher price in the US but look to dump stuff on us. Someone making a t-shirt for $2 in Vietnam isn't going to build a multi million dollar factory now their t-shirt costs $3 to make after the tax. Not when they are already selling it for $50 and selling them around the world. Doesn't make sense.

A longer timeline, working with the manufacturers might have done something. Say "at least 75% of the car needs to be made in the US within the next two years" that might do it but this expectation that it can be fixed in a week is just madness.

[mellowmiller]

Under Biden,industry,especially car manufacturing was collapsing.Trump told the unions he would make it much fairer by putting tariffs on imported cars, thus making American cars easier to sell.He is also investing on more plants to develop a more thriving industry.That's why the workers will benefit having a leader looking after their interests.The finance market will temporarily have a blip but will recover as they always do.

You seem to be conveniently overlooking the fact that manufacturing costs will rise and so, inevitably will prices.
Just because you make more of something doesn't mean you will automatically sell more.
The widespread, blanket imposition of tariffs has never worked and it never will.

[howdydoo]

So two examples of companies doing what Trump and I think every American would hope to do - exand their industries to cover the gaps on commodities they will lose through importing. I can understand the idea, and even wish them well for it to work.

But are you not a little troubled by the sheer number of economists, both from the right as well as left, who are predicting that whilst there may be some significant expansion in US home production, it will not mitigate the extra costs that the country, and its workers will have to pay to cover the changes:

https://economictimes.indiatimes.com...2.cms?from=mdr

https://thehill.com/business/5230405...nomic-effects/

And even our very own voice of the libtard sheeple, The Daily Mail:

https://www.dailymail.co.uk/news/art...ans-money.html


From trying to look at Trump's arguments for his tariffs, and the what seems to be a quite unified expectation from economists that this will cost the US worker an awful lot of money, this reminds me of Truss's own 6th form justification of extreme tax cuts leading to immediate growth and trickle down benefits to the UK worksforce.

It will be interesting to see how it pans out. If it does pan out as very few economists predict and the US quickly expands it's industries to cover all of the production needs and somehow manages to provide it's products at similar prices for the consumption by US familiies, with products made by an expanded US worksforce, in turn receiving better pay, I would be very pleased for them, and would look to see how we could replicate elements of this for ourselves. But can such a huge number of economists, of all shades, really be reading it so wrong? I guess if you can immediately dismiss them by saying that they are all in the pay of liberal globalists elite, then I guess you can feel a bit easier with it, but only time will tell. Probably not much time either.

Anybody for lettuce?

Economists have a great history of making correct predictions in the last 30 years.

Take a screen shot of the page in this link and come back in 3 years.

https://www.usdebtclock.org/

Then we'll know.


I've no idea if the likes of NIKE can manufacture in the US and keep prices low. Maybe automation and Ai can achieve it. I think we will see big advances, in the next 5 years.

[Spuddy Speight]

In other financial news;
''FTSE 100 and European markets suffer further big falls.
The FTSE 100 closed down 4.38% or 352.90 points at 7,702.08, representing a third day of heavy falls for the London market.
Most of the world?s richest people have their wealth tied up in the stock market ? either through investments or specific companies they founded. A recent Guardian analysis found that the world?s 500 richest people lost a collective $536bn in the two days after Trump announced the new tariffs ? the biggest two-day loss recorded by the Bloomberg billionaires index.''

Whatever happened to a genuine credible UK Government and the defence of our realm?
For those of you who have just tuned in, Project Fear 6.0 has just been unleashed.

In other Royal News;
King Charles III will be away from the UK on an official visit to Italy.
I hope it stays fine for him and his Queen. It's not been easy for either of them over the past two years as the rest of his subjects have been living, as near as dammit, the life of Riley.

[frogmiller]

So, ultimately does anyone think that the world will become tariff free?

It is an interesting concept.

[frogmiller]

Tarif free industrial good to America.

Now the UK will follow!

https://www.euronews.com/my-europe/2...dustrial-goods

[UlleyMiller]

In other financial news;
''FTSE 100 and European markets suffer further big falls.
The FTSE 100 closed down 4.38% or 352.90 points at 7,702.08, representing a third day of heavy falls for the London market.
Most of the world?s richest people have their wealth tied up in the stock market ? either through investments or specific companies they founded. A recent Guardian analysis found that the world?s 500 richest people lost a collective $536bn in the two days after Trump announced the new tariffs ? the biggest two-day loss recorded by the Bloomberg billionaires index.''

Whatever happened to a genuine credible UK Government and the defence of our realm?
For those of you who have just tuned in, Project Fear 6.0 has just been unleashed.

In other Royal News;
King Charles III will be away from the UK on an official visit to Italy.
I hope it stays fine for him and his Queen. It's not been easy for either of them over the past two years as the rest of his subjects have been living, as near as dammit, the life of Riley.

There are a number of studies around the chaos of 2007 which point to the markets failing because despite a raft of safeguards, nobody anticipated that brokers would purposely deploy tactics which would negatively impact the markets - but greed and opportunity took over. This situation has parallels - the markets don't (and realistically would struggle to) put guardrails in place to mitigate childish behaviour by massively influential people. Much like it would be difficult to hold steady on oil prices if the buffoon in Washington DC started saying he was going to nuke gulf states because he just didn't like them.