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Thread: Government policy by Tweet

  1. #31
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    Re: Government policy by Tweet

    I clearly remember how PO"d I was when Bush did that. I also remember the commentary by George Will. Trump already does not like Mr Will, so why not pile on.

    When protectionism is not about protecting America at all

    Like Horatius at the bridge, or the boy who stood on the burning deck whence all but he had fled, or the Dutch boy who saved the city by putting his finger in the dike — pick your analogous heroism — the Trump administration acted this last week to stanch the flood of foreign-made washing machines that are being imported because Americans want them. The stanching will be accomplished by quotas and stiff (up to 50 percent) tariffs, which are taxes collected at the border and paid by U.S. consumers. Americans also will pay higher prices for washing machines made domestically by Whirlpool, which sought this protectionism, from which it instantly profited: In Monday’s after-hours trading, Whirlpool’s stock rose 3 percent. When protectionism is rampant, no bad deed goes unrewarded.

    The washing machine drama about “putting (a faction of) America first” cannot be industrial policy — government rather than the market picking winners and losers. And it cannot be government redistribution of wealth. And it cannot be crony capitalism. It cannot be those things, because Republicans oppose those things and control policymaking.



    Fomenting spurious anxieties about national security is the first refuge of rent-seeking scoundrels who tart up their protectionism as patriotism when they inveigle government into lining their pockets with money extracted from their fellow citizens. Sugar producers are ludicrously protected in the name of “food security.” Most U.S. steel imports come from four important allies: Canada, South Korea, Mexico and Brazil. The coming steel tariffs/taxes will mean that defense dollars will buy fewer ships, tanks and armored vehicles, just as the trillion infrastructure dollars the administration talks about will buy fewer bridges and other steel-using projects. As Henry George said, with protectionism a nation does to itself in peacetime what an enemy tries to do to it in war.



    Steel Tariffs Appear to Have Backfired on Bush

    What you need to know about the Trump steel tariffs
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    Re: Government policy by Tweet

    We pretty much used up all our iron ore. A major ingredient in Steel. Now we have to buy most of our steel from somewhere else.
    So now, the Twit in Chief plans to charge them to sell the stuff to us. So, what, they gonna sell us Iron instead, so we can make our own steel.
    Maybe they'll give is a discount?

    Maybe we can trade them that clean Coal he keeps talking about.
    It may not be so much that I've conceded your point as that you just can't hear me rolling my eyes.

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    Re: Government policy by Tweet

    Dont worry guys you be able to afford stuff apparently im about to own (well my retirement fund is, which means you guys will now be paying into my retirement.....thanks for that, its very kind of you) American state assets after our prime minister just pledged 2.5 trillion dollars into your country so youll have your infrastructure built....it seems you guys need a few roads and bridges built, which takes a lot of steel which you cant afford anymore. Dont worry guys you wont feel a thing and trump will tell you all that the tarriffs made no difference. ....but i believe i own a couple of you assets now.....be sure to keep them nice and shiny for me and keep up the payments please on your new privately held assets......gotta love it when capitalism comes home to roost

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    Re: Government policy by Tweet

    The media doesn't NEED to misquote him. Any attempt to misquote him in most of his Tweets would only serve to make him look slightly less ridiculous.

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    Re: Government policy by Tweet

    Quote Originally Posted by magentaflame View Post
    Dont worry guys you be able to afford stuff apparently im about to own (well my retirement fund is, which means you guys will now be paying into my retirement.....thanks for that, its very kind of you) American state assets after our prime minister just pledged 2.5 trillion dollars into your country so youll have your infrastructure built....it seems you guys need a few roads and bridges built, which takes a lot of steel which you cant afford anymore. Dont worry guys you wont feel a thing and trump will tell you all that the tarriffs made no difference. ....but i believe i own a couple of you assets now.....be sure to keep them nice and shiny for me and keep up the payments please on your new privately held assets......gotta love it when capitalism comes home to roost
    Four days ago i wrote that and not one comment....whats wrong guys? Trump telling you a different story? You realise youre going into another recession...but dont worry, so is the rest of the world . And its going to rival the great depression. Thats what the sudden protectionisn is all about. Have a bit of a search, companies big and small are collapsing all over the world (but your news sources arent going to tell you diddly squat).

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    Re: Government policy by Tweet

    Quote Originally Posted by magentaflame View Post
    Four days ago i wrote that and not one comment....whats wrong guys? Trump telling you a different story? You realise youre going into another recession...but dont worry, so is the rest of the world . And its going to rival the great depression. Thats what the sudden protectionisn is all about. Have a bit of a search, companies big and small are collapsing all over the world (but your news sources arent going to tell you diddly squat).
    It is an interesting bit of history that former president Hoover started trade tariff wars in the years leading up the the great depression. But I don't see anything of that magnitude on the horizon.

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    Re: Government policy by Tweet

    EU apparently listing targets for retaliatory tariffs according to several news sources. Some general, others targeted at Republican States by targeting products made in those states.

    Backing down to Trump would be to invite worse; I suspect that hitting back will cause him to move on to the next populist issue and ignore this one asap.
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    Re: Government policy by Tweet

    (but your news sources arent going to tell you diddly squat)

    No problem here. I don't listen to our news sources, anyway.
    It may not be so much that I've conceded your point as that you just can't hear me rolling my eyes.

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    Re: Government policy by Tweet

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    Re: Government policy by Tweet

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    EU already retaliating I think. Canada and Mexico have also announced retaliatory measures. Looks like all three had their fingers on the triggers. The EU measure are due to be in effect in a couple of weeks, if I read it right.

    The EU
    European Commission president Jean-Claude Juncker said he plans to take the US to the World Trade Organization over the American tariffs, a policy he called "totally unacceptable".
    In the meantime, the bloc released a list of tariffs in March - 10 pages of US goods they plan to target:
    Bourbon whiskey, orange juice and cranberries
    Jeans, T-shirts and tobacco
    Corn and other agricultural products
    Steel and industrial products
    Cosmetics, consumer goods, motorbikes and pleasure boats
    Snuff and chewing tobacco

    Apparently this is aimed politically, and it might be co-ordinated. Not sure to what extent Canada the EU and Mexico talked to eachother before these announcements.

    I do find it interesting as well that moves against China seem to have ceased amid rumours of a great deal Trump has done for himself in the region.

    Is there any doubt that Trump is using the full weight of US diplomacy to enrich Trump, Inc. first and his country not even second but nowhere? Having bribed his electorate with a big tax cut that isn't paid for but the negative effects of which won't really bite people until after he has left office?
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