Reply With Quote
China has stopped buying US oil:
https://www.rt.com/business/440296-u...a-oil-imports/
here's one for rmt
THE BIGGEST LOSERS IN TRUMP’S TRADE WAR? WOMEN
it looks like American women are going to be the biggest losers.
The third round is different not only because of
its size — five times more punitive, financially speaking
— but also because
it directly targets imports of consumer goods.
Experts say the tariffs will hit the consumer in the pocketbook as
manufacturers pass the burden on to consumers through higher costs on items such as clothing, household appliances and even toys.
The National Retail Federation (NRF) estimates that the plan
could cost the average American family $1,700 in the first year alone.
THE TRUMP TAX HITS ITEMS USED PRIMARILY BY WOMEN
Round three includes
many products that are used more by women than men,
including pocketbooks, beauty products and even toilet paper. That’s right.
As a matter of hygiene, women use five times more toilet paper than men,
according to a study funded by the Scott Paper Company.
So you can add the “Trump Tax” to the “Pink Tax” women already pay (7 percent, according to studies like this one from New York City’s Department of Consumer Affairs) for products marketed to girls and women.
She called it “a baby tax … a getting ready in the morning tax … a pet tax… a fruit tax … a school lunch tax [and a] … a backpack tax.”
She pointed out how it’s a “tax on keeping warm,” with parkas, scarves, hats, earmuffs and caps also listed.
“Parents will pay more for school supplies,” says Quach, with paint, glue sticks, binders, plastic rulers, tape measures, fabric, even calculators targeted.
“And teachers too. [It] is a back-to-school teacher tax.”
According to the U.S. Department of Education, a whopping 94 percent of teachers — a profession in which 77 percent in the U.S. are women — spend their own money on school supplies.
https://www.ozy.com/opinion/the-bigg...a04bf10a595031
"Trade Wars Are Easy To Win", says yet another war-making asshole who won't risk himself in the war.
China has stopped buying US oil:
https://www.rt.com/business/440296-u...a-oil-imports/
I don’t disagree with you about the poor. But the broad brush you use for the wealthy is just incorrect and wreaks of self consciousness and jealousy. Just telling you how it looks from a third party.
the US is becoming a commodities exporter. the trend continues under Trump:
How Badly is Trump’s Trade War Hurting China?
after seeing numerous stories telling us how bad China’s economy has been hit by Trump’s tariffs (e.g. this NYT piece),
I thought it was worth looking at the numbers.
In the first eight months of 2018, China’s exports to the US were $344.7 billion.
This is up by $25.4 billion from $319.3 billion in the first eight months of 2017.
I have a hard time seeing how a $14 trillion economy
($25 trillion in purchasing power parity terms)
could be sunk by reducing its exports to the US by $60 or even $100 billion.
since we are constantly told that much of the value of these exports actually comes from third countries like Japan or South Korea, the impact would be even less.
Of course, if China’s exports are still rising in spite of Trump’s trade war,
it is even harder to understand how it could be sinking its economy.
https://www.counterpunch.org/2018/10...hurting-china/
So much WINNING, America is sick of it.
Last edited by boutons_deux; 10-09-2018 at 05:22 AM.
The fraud, the lie is that people are told The American Dream, a complete myth, is that anybody can become wealthy, when in fact
If you're born poor, you will stay poor.
If you are born rich, you will stay rich (eg, a s bag like Kavanaugh)
Inequality of opportunity keeps the poor in poverty, and the rich in wealth.
That an infinitesimal fraction of non-poor become wealthy is not the lesson. It's the lie, in the sense that effectively nobody poor becomes wealthy, or even middle class.
Yes, a larger portion of the Forbes 400 started out non-wealthy, but that's a few 100 people in a country of 320M, in a country with 50M+ in or very close to poverty.
The lesson is that 99% of people born poor die poor, denied the opportunity of educated, well-off parents, denied quality education in public schools, denied a peaceful childhood with successful adult models, growing up in impoverished, violent neighborhoods.
I can't find it now, but one study showed that (white) people raised in rural areas and then move to urban areas almost never "catch up" with people raised in sub/urban areas.
Western Europe's better-than-USA socio/economic mobility is due to the advantage of social democracy: well funded schools, free or cheap secondary education, universal health care, strong safety net, strong unions.
iow, Western Europeans are provided the platform of social democracies to achieve a respectable level of living, life without fear of poverty and/or bankruptcy from medical/special-needs costs, while America's cruel, ruthless Capitalism continues to deny, even reduce, such a platform. eg, Trash/Repug Congress intend to cut Medicare, Medicaid, SS (to pay for the Capitalists' tax cuts and rigging)
Capitalism is rigged for capitalists, everybody else is ed by Capitalists.
Last edited by boutons_deux; 10-09-2018 at 05:41 AM.
Ford Plans Layoffs After $1 Billion Trump Tariff Hit
Some 12 percent of Ford workers worldwide could be out of a job.
The nation’s largest automaker hasn’t yet revealed how many workers will be affected. But a report by Morgan Stanley estimated that as many as 12 percent of the company’s 202,000 workers worldwide could be cut, NBC reported.
Layoffs will center on Ford’s 70,000-strong white-collar workforce as part of what the company is calling a “redesign” of its staff in an ongoing $22.5 billion reorganization,
Trump’s tariffs and the retaliatory tariffs they triggered are taking a toll on the U.S. auto industry.
Ford CEO Jim Hackett told Bloomberg last month that tariffs on imported aluminum and steel alone dealt a blow to company profits.
“From Ford’s perspective the metals tariffs took about $1 billion in profit from us,” Hackett said.
“The irony of which is we source most of that in the U.S.
If it goes on any longer, it will do more damage.”
The ongoing trade war is expected to continue to hurt the company’s bottom line.
Earlier this year, Trump said that “trade wars are good, and easy to win.”
https://www.huffingtonpost.com/entry...gEmail__100918
China's September export growth tops forecasts, surplus with U.S. record high
China reported on Friday an unexpected acceleration in export growth in September and a record trade surplus with the United States, which could exacerbate an already-heated dispute between Beijing and Washington.
https://www.reuters.com/article/us-c...2F+Top+News%29
Marshall Auerbach descries a method in the madness.
His discussion of synthetic immigration seems apt.
https://www.nakedcapitalism.com/2018...-go-wrong.htmlIn essence, the U.S. now has a situation whereby fiscal stimulus is being married to a tariff policy in the U.S., so that the stimulus “leakage” (whereby U.S. spending power is directed toward imports rather than domestic goods) is minimized, and therefore the stimulus absorbed mostly at home. This is more likely to result in inflationary pressures. This is beginning to be intuited by the bond market, where the 10-year Treasury benchmark bond has tumbled to 3.23 percent, the highest yield level since May 2011. Additionally, Financial Advisory reports that:
“the value of the Bloomberg Barclays Multiverse Index, which captures investment-grade and high-yield securities around the world, slumped by $916 billion last week, the most since the aftermath of Donald Trump’s election victory in November 2016. American high-grade obligations are down 2.53 percent in 2018—a Bloomberg Barclays index tracking the debt has dropped in just three years since 1976.”
Keep your eyes on that Index. A lot, to put it mildly, is riding on it.
http://www.paecon.net/PAEReview/issue78/Auerback78.pdf
"stimulus “leakage” (whereby U.S. spending power is directed toward imports rather than domestic goods) is minimized,"
see above, US imports from China are UP!
short term blinders. this to be expected since traders in the last quarter wanted to get in under the wire before tariffs were enacted in earnest.
also to be expected in the short term because a strong economy/dollar makes imports more affordable for US citizens
China can nuke the USD, and much of the US economy, by dumping its US Treasury bonds.
Last edited by boutons_deux; 10-13-2018 at 11:23 AM.
don't hold your breath
On NPR, a local politician was told by BMW that BMW Spartanburg would lose over $300M in 2018, and nearly $500M in 2019, due to Trash's winning trade war.
Industry Week: Ford says it lost $1B in profits.
https://www.industryweek.com/compani...ostliest-worldU.S. steel currently costs about $150 more per metric ton than steel in China, the world’s biggest consumer, which accounts for more than half of global demand.
biggest trade deficit in a decade, Trump is too busy campaigning to follow through on his promises to put American workers first
https://citizen.typepad.com/eyesontr...residency.html“Government data released today reveals the highest U.S. goods trade deficit in a decade for the first three-quarters of 2018, contradicting President Donald Trump’s midterm campaign trail triumphalism on trade. During Trump’s presidency, the U.S. trade deficit with China has risen to the highest ever recorded, while the deficits with the world and with North American Free Trade Agreement (NAFTA) nations have steadily grown, reaching nine-month levels in 2018 higher than any year since before the 2008-2009 financial crisis…. The data arrives on the heels of Trump’s Treasury Department failing to label any country a currency manipulator….. As well, Trump has not exercised the authority he has to reverse waivers of “Buy America” procurement policies that outsource U.S. tax revenues to purchase imports for government use. He also has not followed through on his campaign pledges to penalize imports from firms that consistently outsource jobs or limit government contracts to firms that outsource jobs.”
Their Soybeans Piling Up, Farmers Hope Trade War Ends Before Beans Rot
https://www.nytimes.com/2018/11/05/b...trade-war.html
That is pretty easily blamed on a Republican.
Democrats do stupid , but it pales in comparison to the ed up, reckless policies of the Republicans, and your overall servile at ude to the breathtaking corruption and incompetence from the Oval office.
White House to consider Commerce Department auto tariff recommendations
The U.S. Commerce Department has submitted draft recommendations to the White House on its investigation into whether to impose
tariffs of up to 25 percent on imported cars and parts
on national security grounds,
https://www.reuters.com/article/us-u...2F+Top+News%29
NatSec is the goto catchall to justify anything and everything.
Stung by trade wars, U.S. farmers hope for quick progress on Farm Bill
Lawmakers have said passing the critical piece of agricultural legislation is their highest priority.
That would provide some comfort to farmers who for the past several months have been crushed by the loss of export markets due to the trade wars and are keen for a legislative backstop if the trade disputes linger.
“It’s our safety net,” Schlosser said. “We could use all the help we can to eliminate any uncertainty in times like this,”
The Farm Bill provides funding for an array of programs important to farmers, including crop subsidies, rural development programs and support accessing export markets.
Trump reiterated his desire for stricter work requirements in the bill.
He noted a new farm bill could help farmers survive the ongoing trade dispute, which
has driven China, traditionally the biggest buyer of U.S. agriculture exports, mostly out of the market.
Amid the trade tariffs, without a farm bill, we would not have access to market development programs, and these are crucial,”
“Given the sustained low prices dairy farmers have faced,
coupled with uncertainty in agricultural trade policy,
it is more important than ever that Congress quickly enact the 2018 Farm Bill before adjourning for the year,”
https://www.reuters.com/article/us-u...litics+News%29
=================
The dairy industry is really in deep
What’s behind the crippling dairy crisis? Family farmers speak out
surging per-cow milk production,
from 540 gallons per year in 1944 to
2,753 gallons in 2017; !!!!!!!!!!! juicing the cows!!
https://www.salon.com/2018/11/11/wha...k-out_partner/
Trump Adminstration bails out Chinese company (Smithfield) for lost sales to China:
https://boingboing.net/2018/11/13/ji...k-oink-oi.htmlSmithfield is a Chinese-owned pork producer based in the USA that exports a lot of pork back to China; when Trump touched off a trade-war with China, he committed to compensating US-based companies that faced retaliatory sanctions at the Chinese border.
You see where this is going, right?
The US government is buying $240,000 worth of pork from Smithfield to compensate it for its lost Chinese sales.
China ‘has taken the gloves off’ in its thefts of U.S. technology secrets
It was the great microchip heist — a stunning Chinese-backed effort that pilfered as much as $8.75 billion in patented American technology.
U.S. officials say the theft took a year to pull off and involved commercial spies, a Chinese-backed company, a Taiwanese chipmaker and employees affiliated with Micron Technology, a U.S.-based microchip behemoth.
Yet what Micron called “one of the boldest schemes of commercial espionage in recent times” is most notable because it’s not unusual.
Beijing over the last two years has significantly ramped up its swiping of
commercial technology and intellectual property,
from jet engines to
genetically modified rice,
as U.S. relations with China have grown more acrimonious under President Trump, according to U.S. officials and security experts.
“They want technology by hook or by crook.
They want it now.
The spy game has always been a gentleman’s game,
but China has taken the gloves off,”
said John Bennett, the special agent in charge of the FBI’s San Francisco office, which battles economic spies targeting Silicon Valley.
“They don’t care if they get caught or if people go to jail.
As long as it justifies their ends,
they are not going to stop.”
China long has prioritized stealing U.S. intellectual property to boost its domestic industries and its rise as a global power, according to federal law enforcement officials.
They say Beijing relies on
an army of domestic computer hackers,
traditional spies overseas and
corrupt corporate insiders in U.S. and other companies.
http://www.latimes.com/politics/la-n...y.html?id=1231
China has joined Pootin in laughing their asses off at feeble, rape-able, foolish, sitting , flabby-assed USA.
China used to fear tariffs, but now that Trash has started a tariff war with China, China is raping America.
Trash knew that was gonna happen, right?
China ain't takin no from USA anymore. Thanks, Trash!
U.S.-China Clash at Asian Summit Was Over More Than Words
The United States wanted to emphasize free trade at the end of a meeting with Asia-Pacific leaders.
China objected.
So Chinese officials barged uninvited into the office of a senior Asian official, demanding changes in the official communiqué.
China’s decision to burst into the office of the host country’s foreign minister marked a striking break with decorum at a meeting that is normally used to promote cooperation among countries that ring the Pacific Ocean.
The dispute meant that the Asia-Pacific Economic Cooperation, or APEC, forum held in Papua New Guinea and attended by Vice President Mike Pence and China’s leader, Xi Jinping,
failed to issue a joint do ent for the first time since 1989.
More important, it signaled a new phase in relations between the two powers, with
China showing its willingness to cast diplomacy aside
in favor of a more aggressive posture as it challenges the United States’ dominance in the region,
https://www.nytimes.com/2018/11/19/world/asia/apec-us-china-trade.html
Besides investing in Africa, China is going to finance a huge chunk of Philippines infrastructure.
The planet is no longer a uni-polar world under USA's financial hegemony, but USA still is the hated country with military hegemony, run by a childish, mentally ill obese asshole, with makeup and fake hair.
There are currently 1 users browsing this thread. (0 members and 1 guests)
Posting Permissions
