President Donald J. Trump

[fast4522]

The American "free market" is doing great, those who invested in emerging markets might be looking for a sturdy door to do a Anthony Bourdain.

[Clocker]

Originally Posted by fast4522

The American "free market" is doing great...

Then Trump should keep his nose out of it, because the Constitution gives him no authority to try to manipulate it.

[OntheRail]

Originally Posted by Clocker

Sorry, I should have put some funny faces in there to show that I was being facetious.

Article 1, Section 8 of the US Constitution says that Congress shall have the power "To regulate Commerce with foreign Nations", not the president.

Now days... many in Congress could not pour water out of a boot with the instruction written on the heel.

[fast4522]

You don't hear many with your view, everyone likes our country as it is going gangbusters right now. You should run for office and move on from being a nuisance.

[Clocker]

A new study by economists at the University of Chicago and the Federal Reserve Board found that Trump's tariffs on imported washing machines have resulted in the creation of new jobs in the US washing machine industry.

The study found that the costs of the tariffs to American consumers are an additional $800,000 per year per job created.

Despite the increase in domestic production and employment, the costs of these 2018 tariffs are substantial: in a partial equilibrium setting, we estimate increased annual consumer costs of around $1.5 billion, or roughly $820,000 per job created.

https://fee.org/articles/trump-s-was...r-job-created/

[tucker6]

Originally Posted by Clocker

A new study by economists at the University of Chicago and the Federal Reserve Board found that Trump's tariffs on imported washing machines have resulted in the creation of new jobs in the US washing machine industry.

The study found that the costs of the tariffs to American consumers are an additional $800,000 per year per job created.

https://fee.org/articles/trump-s-was...r-job-created/

That’s a much better payback than most govt jobs creation schemes. I would like to see Solyndras numbers?

[horses4courses]

Income for survivors of US military killed in action has been gutted.
The previous 12% taxation rate has now tripled to 37%.

It's okay, though.
All the billionaires are doing just fine.

[Clocker]

Originally Posted by tucker6

That’s a much better payback than most govt jobs creation schemes.

So the moral of the story is that Trump is a business genius because he can create jobs at a cost to consumers of only $820,000 per job per year, while Obama couldn't even come close to being that efficient?

Or is the moral of the story something about the effectiveness of government as regards job creation, or lack thereof?

[incoming]

Originally Posted by Clocker

A new study by economists at the University of Chicago and the Federal Reserve Board found that Trump's tariffs on imported washing machines have resulted in the creation of new jobs in the US washing machine industry.

The study found that the costs of the tariffs to American consumers are an additional $800,000 per year per job created.

https://fee.org/articles/trump-s-was...r-job-created/

"Despite the increase in domestic production and employment, the costs of these 2018 tariffs are substantial: in a partial equilibrium setting, we 'estimate' increased annual consumer costs of around $1.5 billion, or roughly $820,000 per job created"

Maybe we should get Tucker6 to explain what the term... partial equilbrium setting.....means. Apparently, you don't. Common Sense should tell you those number are proposterous.

[Clocker]

Originally Posted by incoming

Maybe we should get Tucker6 to explain what the term... partial equilbrium setting.....means. Apparently, you don't.

What is your basis for saying that I don't understand it? And I did not use the term, the economists at the University of Chicago and at the Federal Reserve system system did.

And what it means is that the study looked at that part of the market in which they could measure the immediate impact of the changes caused by the tariffs. They didn't try to project the longer term effects on the entire economy, as those immediate effects have their own impact down the road, and can take years to work through the economy. Changes in prices today can cause changes in consumer behavior many years into the future. Attempting to model that is pure conjecture.

What is known is that the tariffs on imported washing machines drives up the price of both imported and domestic machines, and that consumer reaction to price increases is to a large extent predictable, especially in the short run. In the long run, based on many factors, price increases can have a lasting impact on consumer behavior, manufacturing, and alternatives. Economists generally do not try to model or predict such changes, i.e., general equilibrium.

[horses4courses]

https://www.bloomberg.com/news/artic...trade-war-pain

US farmer's incomes drop $11.8 billion in first quarter.
Just keeps getting better.....for the billionaires, that is.

[incoming]

Originally Posted by Clocker

What is your basis for saying that I don't understand it? And I did not use the term, the economists at the University of Chicago and at the Federal Reserve system system did.

And what it means is that the study looked at that part of the market in which they could measure the immediate impact of the changes caused by the tariffs. They didn't try to project the longer term effects on the entire economy, as those immediate effects have their own impact down the road, and can take years to work through the economy. Changes in prices today can cause changes in consumer behavior many years into the future. Attempting to model that is pure conjecture.

What is known is that the tariffs on imported washing machines drives up the price of both imported and domestic machines, and that consumer reaction to price increases is to a large extent predictable, especially in the short run. In the long run, based on many factors, price increases can have a lasting impact on consumer behavior, manufacturing, and alternatives. Economists generally do not try to model or predict such changes, i.e., general equilibrium.

How many jobs were created? All of economics are theories.....how can you compare the last two years with any part of USA past history.

[JustRalph]

Originally Posted by horses4courses

https://www.bloomberg.com/news/artic...trade-war-pain

US farmer's incomes drop $11.8 billion in first quarter.
Just keeps getting better.....for the billionaires, that is.

Lots of farmers are millionaires. I think they will get by.

[horses4courses]

Originally Posted by JustRalph

Lots of farmers are millionaires. I think they will get by.

Good to know.
Thanks so much

[incoming]

Originally Posted by JustRalph

Lots of farmers are millionaires. I think they will get by.

Most farmers are land rich and cash poor.