Trump tariffs are hurting the economy....err...

[PaceAdvantage]

Haven't some on here beaten the drum that tariffs will be the end of the booming economy? They will kill jobs. They will kill consumers?

https://www.cnbc.com/2018/12/11/stee...tudy-says.html

but, here's something they can maybe hang their hats on:

https://www.washingtonexaminer.com/p...ds-only-barely

OK then.

[biggestal99]

Originally Posted by PaceAdvantage

Haven't some on here beaten the drum that tariffs will be the end of the booming economy? They will kill jobs. They will kill consumers?

https://www.cnbc.com/2018/12/11/stee...tudy-says.html

but, here's something they can maybe hang their hats on:

https://www.washingtonexaminer.com/p...ds-only-barely

OK then.

GDP is dropping in 2019.

Not much the president can do to boost it.

1.0% 1Q 2019

Allan

[sammy the sage]

Originally Posted by PaceAdvantage

Haven't some on here beaten the drum that tariffs will be the end of the booming economy? They will kill jobs. They will kill consumers?

https://www.cnbc.com/2018/12/11/stee...tudy-says.html

but, here's something they can maybe hang their hats on:

https://www.washingtonexaminer.com/p...ds-only-barely

OK then.

Guilty as charged....am actually glad that I WAS (for now anyways) wrong...my business hasn't tanked like 07/08 for now...being vary cautious about hiring going forward tho...

There are some people tho...that have been put outta business or on verge of bankruptcy....there's ALWAYS winners & losers on government policy changes...

[elysiantraveller]

How much in additional farm subsidies have we given out to offset retaliation?

[Clocker]

Originally Posted by PaceAdvantage

Haven't some on here beaten the drum that tariffs will be the end of the booming economy? They will kill jobs. They will kill consumers?

https://www.cnbc.com/2018/12/11/stee...tudy-says.html

It was a given that the tariffs would be good for jobs in the steel and aluminum industries, at least in the short run. The concern was the impact on consumers. From that article:

But the full effect of the higher costs and disrupted supply chains are still working their way through the economy, “It’s very easy to say ‘Ah, ha, these haven’t happened yet.’ … The last thing anyone wants to do is lay off workers,” said Dan Anthony, vice president at The Trade Partnership, an economic consulting firm that has done several studies of tariff impacts.

The overall impact on consumers is yet to be seen, but one is known: tariffs on lumber have increased the price of the average new home by $9000.
https://www.cbsnews.com/news/lumber-...n-more-costly/

[Tom]

Originally Posted by biggestal99

GDP is dropping in 2019.

Not much the president can do to boost it.

1.0% 1Q 2019

Allan

Well then, we can't blame him for it.

[PaceAdvantage]

Originally Posted by Clocker

It was a given that the tariffs would be good for jobs in the steel and aluminum industries, at least in the short run. The concern was the impact on consumers. From that article:

The overall impact on consumers is yet to be seen, but one is known: tariffs on lumber have increased the price of the average new home by $9000.
https://www.cbsnews.com/news/lumber-...n-more-costly/

Am I the only one who sees this "tariff policy" as a short term thing meant to wake slumbering competitive nations onto a more level playing field?

I'm fairly certain they (tariffs) won't be around long enough to cause any massive long term damage.

Because, hey, Trump policy is based on the last person he spoke with, right ely?

Thus, the next person who tells him tariffs are bad, BAM, tariffs go out the window. Problem solved.

[reckless]

Originally Posted by biggestal99

GDP is dropping in 2019.

Not much the president can do to boost it.

1.0% 1Q 2019

Allan

Maybe GDP will be at 1 per cent or so as you say, Allan. For the entire 2019 I believe GDP will be at least 3 percent, plus.

As a reminder, most experts in the last 2 + years now have wrongly predicted results of Trump's policies on the economy, trade, taxes, jobs, manufacturing, regulation, the stock market, the Paris Accord, NATO, trade with China, trade with Mexico, trade with Canada, trade with EU -- all these economic and political geniuses and experts, totally wrong.

Thanks to the Trump presidency and his sure-fire economic, fiscal, growth and trade policies just beginning to hit its stride, the USA has returned as the world's economic powerhouse and the engine is humming.

Let the hate Trump crowd whine all they want. They has been wrong, wrong, wrong! about all the above and are now in double-down nonsense trying to save face. Plus, no one cares about their thoughts anyway. Calling those correct on Trump followers names won't help their cause.

The USA is growing at 3 per cent+, and it is much closer to 4 per cent, than the paltry Obama record of < 2 per cent. These are the realities, not nonsense peddled by 'experts'.

The Chinese are in a severe economic down draft and are heading toward recessionary and revolutionary levels.

The EU is in a recession. Russia is in very bad economic shape.

Canada is also very near recession levels as well. Mexico is brimming on chaos.

[fast4522]

Originally Posted by reckless

Maybe GDP will be at 1 per cent or so as you say, Allan. For the entire 2019 I believe GDP will be at least 3 percent, plus.

As a reminder, most experts in the last 2 + years now have wrongly predicted results of Trump's policies on the economy, trade, taxes, jobs, manufacturing, regulation, the stock market, the Paris Accord, NATO, trade with China, trade with Mexico, trade with Canada, trade with EU -- all these economic and political geniuses and experts, totally wrong.

Thanks to the Trump presidency and his sure-fire economic, fiscal, growth and trade policies just beginning to hit its stride, the USA has returned as the world's economic powerhouse and the engine is humming.

Let the hate Trump crowd whine all they want. They has been wrong, wrong, wrong! about all the above and are now in double-down nonsense trying to save face. Plus, no one cares about their thoughts anyway. Calling those correct on Trump followers names won't help their cause.

The USA is growing at 3 per cent+, and it is much closer to 4 per cent, than the paltry Obama record of < 2 per cent. These are the realities, not nonsense peddled by 'experts'.

The Chinese are in a severe economic down draft and are heading toward recessionary and revolutionary levels.

The EU is in a recession. Russia is in very bad economic shape.

Canada is also very near recession levels as well. Mexico is brimming on chaos.

Great post as usual reckless, those who feel we must prop up other countries are the losers, charity begins at home!

[reckless]

Originally Posted by fast4522

Great post as usual reckless, those who feel we must prop up other countries are the losers, charity begins at home!

Thanks for the kind words.

[reckless]

I know big sal Allan said 1% in Q1 and not 2019.

My bad for not mentioning that in my post.

But all last week on both Fox Business and CNBC many on there still held their thoughts that 2019 will not be a big year for GDP growth.

They are wrong if they are calling for less than 3 per cent growth.

[Tom]

Originally Posted by reckless

Canada is also very near recession levels as well. Mexico is brimming on chaos.

I know someone in Canada who told me they are spending much more money on HC that we are.
I bet this is why they are tanking.

[elysiantraveller]

Originally Posted by PaceAdvantage

I'm fairly certain they (tariffs) won't be around long enough to cause any massive long term damage.

Because, hey, Trump policy is based on the last person he spoke with, right ely?

Some are... probably... some aren't...

The Steel and Aluminum Tariffs was an opening shot not aimed at anything if you're of the opinion it was created for negotiating leverage.

A good example would be this trade fight with China... On the whole I have no problem admitting China isn't a fair player and don't mind an aggressive policy towards correcting it. The problem is you do that by building coalitions, blocks, and goodwill to attack the bad actor from all sides. You don't open up that battle withdrawing from a major trade agreement designed to directly counterbalance China and then piss off all your allies with an opening salvo of Steel and Aluminum Tariffs directed at nothing and everyone at the same time.

This gets to the real problem with Trump trade policy... its incoherent. He can't articulate what he wants and in regards to those particular tariffs no real demands were even made so... the new normal?

That seems the most logical answer.

Certainly more logical than the 8 Dimensional Chess some people claim he's playing...

[ultracapper]

Originally Posted by sammy the sage

Guilty as charged....am actually glad that I WAS (for now anyways) wrong...my business hasn't tanked like 07/08 for now...being vary cautious about hiring going forward tho...

There are some people tho...that have been put outta business or on verge of bankruptcy....there's ALWAYS winners & losers on government policy changes...

A real estate lending crisis is probably the single most destructive event the present day US economy can endure. Real estate lending is an enormous economical driver.

[fast4522]

Originally Posted by Tom

I know someone in Canada who told me they are spending much more money on HC that we are.
I bet this is why they are tanking.

Canada has a housing bubble, people posting here from Canada are well aware they will crator before anyone else does or crator alone.