facthunter Posted July 30 Posted July 30 Mafia Boss of the world. Tariffs are just like extracting protection Money. Nev 1
old man emu Posted July 30 Author Posted July 30 This is frightening for the possibility that teh republicans will be tossed out. Just watch the first two and one half minutes. 1 1
old man emu Posted July 30 Author Posted July 30 2 minutes ago, facthunter said: Tariffs are just like extracting protection Money. Except that it's your gang that pays it, not the bloke being muscled. 1 1
Jerry_Atrick Posted July 31 Posted July 31 Agree, except the demand of the goods of the muscled are likely to drop or their margins are,which affects their profitability, even if they spend money finding other markets 1
facthunter Posted July 31 Posted July 31 (edited) People don't like being taken for suckers by those who unilateraly break agreements Touting some hairbrained tariff wall will reduce taxes for all Americans ,disregarding any damaging effect to the rest of the world that Dazzling Don doesn't give a Damn about. He uses these penalties to get back at people he doesn't like. Cheap stuff into the USA keeps THEIR prices down internally. Who with 1/2 a brain would knock back COPPER at low prices? Loves having people COMING to HIM when HE thinks HE holds ALL the CARDS CREEP. and a $#!t for Brains Person....Nev Edited July 31 by facthunter 1 1
red750 Posted July 31 Posted July 31 https://www.msn.com/en-au/news/world/outrage-over-crooked-move-that-would-keep-trump-s-republicans-in-power/ar-AA1JClWa?ocid=winp2fptaskbarhover&cvid=8998bb021acf440ea38d5f0f979cb6f2&ei=117 1
Jerry_Atrick Posted July 31 Posted July 31 11 hours ago, facthunter said: People don't like being taken for suckers by those who unilateraly break agreements Touting some hairbrained tariff wall will reduce taxes for all Americans ,disregarding any damaging effect to the rest of the world that Dazzling Don doesn't give a Damn about. He uses these penalties to get back at people he doesn't like. Cheap stuff into the USA keeps THEIR prices down internally. Who with 1/2 a brain would knock back COPPER at low prices? Loves having people COMING to HIM when HE thinks HE holds ALL the CARDS CREEP. and a $#!t for Brains Person....Nev Of course no one likes to be taken as a sucker, etc. However, Chump doesn't care. Whether done diplomatically or not, the bottom line is that the side that has the most power in an materially asymmetric relationship will always get the better outcome In dimplomacy, often the outcomes are the same - if you have the levers of power well over your counterparty, you are going to win. It has been like this always. The difference is Chump isn't diplomatic about it at all. He has no issue telling the world he is going to use the same levers.. he publicly rather than privately threatens. The bullying tactics are part of him, like they are in many. Tarrifs ensure the US taxpayer pays more tax.. The importers pay the tarrifs, not the exporters. Either they take a hit or they pass it on. Either way, it is the US that pays the tax. It is there for one reason and one reason only.. Making the wealthy wealthier. Those big tax breaks to the wealthy are not going to pay for themselves in a developed economy. Getting back to Chump and his antics, and why he remains popular relative to the deomocrats. And I think it is in the culture of the people. Americans like the hollywood BS.. Everything is brute force with them. Die Hard, etc. I remember when 9/11 happened there were people wondering whee the real Die Hard shoot-em-up law enforcers were. You only have to look at the reaction in the aftermath where people were seriously calling for pilots to wear guns.. Look at their law enforcement (sadly, some of it has spilled into Australia) compared to the unarmed bobby. The other thing is that America epitomises selfishness. It's al me me me me me me me me me. They could not care about what anyone outside America thinks. I seriously think that most people who live in America think the rest of the world is a third world backwater, anyway - at least those that haven't ventured anywhere else. And there's a lot of them. So Chump shafting the world is seem as power, being tough and brutish.. which is what they want. We call him dumb, but he plays his audience very well. And only they get to votet him in. And yeah, you can argue that he was voted out, but he was voted in after the democrats fixed the economy and their foreign relations after the first bout of Chump. And this time he was ahead in the popular vote and took both houses! The yanks do not care. Like everyone else, it is "what is in it for me?" A lot of them were convinced the crap he is doing is better for them when iut is worse at every level.. I still love the US, but I no longer preference by spending on US products over Chinese (yes, I know US brands are largely manufactured in China, but at least some of the profit went back). I am more inclined to buy non-US brands in may things. And although I won't use Temu nor Ali-Baba, I no longer spend as near as much as I used to on Amazon. I use Mistral LLM AI over Chat GPT. I have made my decision with my wallet. 2 1
old man emu Posted July 31 Author Posted July 31 5 hours ago, Jerry_Atrick said: The importers pay the tarrifs, not the exporters. Either they take a hit or they pass it on. Have you ever seen any business absorb an increase in cost? And then there has to be that little bit added to cover "administrative costs". It is always the end consumer who pays. 1
facthunter Posted July 31 Posted July 31 Tariff's are considered Barriers to trade, usually to protect the Home Market, or as a TAX hit for the Government. What PROPER Capitalist Regime could morally Argue a case against FREE trade? COMPETITION puts a cap on prices. That's part of the CASE FOR Capitalism. Anything else is a Corruption. Nev
Jerry_Atrick Posted August 1 Posted August 1 What proper capitalist (i.e. free market) country is there in the world right now? Has there ever been one? In this case, tarrifs are being used as a tax hit to give his wealthy mates tax deductions under the guise of protecting and bolstering American manufacturing. Chump is doing it because he knows it is a massive lever he can pull. If Australia tried it on, the world would be, "meh?" because Australia ain't so big. Look at how other countries have low-towed to him.. Only exceptions are Canada and Mexico. Everyone else talked tough, but when the rubber hit the road, they all capitulated. Starmer's grovelling was an absolue disgrace and it still go him nowhere. Not only that, but the UK was willing to reduce its food standards for Chump until there was a massive public backlash. Apparently, USA beef is now good enough to allow people to eat in Australia, when only two weeks ago, it wasn't. Paramount studios fired Colbert, an ardent critic of Chump, because of a multi-billion dollar defamation case launchged by Chump that almost every legal eagle in the US was frivilous and actually could expose Chump. But they capitulated and even paid him out, I think it was $16m, I guess for hush money or greasing the wheels. No one likes itm but they will work around it because the perceived loss of mainly business has them running ship scared.. and Chumpy knows it. Life continues. 1 1 1
nomadpete Posted August 1 Posted August 1 1 hour ago, Jerry_Atrick said: Life continues. All the rest I am disgusted by, but reluctantly agree with. Life continues...... Downhill for us plebs. 1 1
nomadpete Posted August 1 Posted August 1 So far, classic capitalism is still hanging on in USofA. At least, it is for the top 1% of the wealthy elites But now, it is starting to show the equally classic signs of reaching a critical high from which a total collapse is inevitable. I believe either Stalin or Lenin foretold of this pathway. If this occurs, what is the likely outcome and what timeframe can we expect? 1
red750 Posted August 1 Posted August 1 https://www.msn.com/en-au/news/australia/albo-lieutenant-gloats-about-how-well-his-boss-has-handled-trump-with-three-telling-words/ar-AA1JHtMa?ocid=winp2fptaskbarhover&cvid=94993f1d80be4ac7a8caeda17c3ecd72&ei=82 1
old man emu Posted August 1 Author Posted August 1 Watching the Trump saga is like standing on a hill overlooking a single track railway line and see two express trains racing towards each other. You know there's going to be one heck of a pile up, but you can't do anything from where you stand to prevent it. 2 1
Jerry_Atrick Posted August 1 Posted August 1 13 hours ago, old man emu said: Have you ever seen any business absorb an increase in cost? And then there has to be that little bit added to cover "administrative costs". It is always the end consumer who pays. In price sensitive markets, I have seen business absorb the costs where they can and keep it viable.. If the costs go up too much, shop closes up. 1 1
facthunter Posted August 1 Posted August 1 Stock Markets FELL significantly in The Dis United State of America, yesterday. . Nev 1
old man emu Posted August 1 Author Posted August 1 10 hours ago, Jerry_Atrick said: price sensitive markets They would have to be very niche markets that are not directly involved with the generl population. Can you see our supermarket conglomerates absorbing cost increases? They won't even pass on cost decreases. 1
onetrack Posted August 2 Posted August 2 (edited) Trump is in full dictator mode now. He gets information that disagrees with his manipulated economic story, and he promptly shoots the messenger. He's just organised the sacking of the U.S. Bureau of Labor Statistics, Erika McEntarfer, after data showed weaker than expected employment growth in July, and massive downward revisions to the prior two months’ job counts. The Orange boofhead claims McEntarfer is manipulating the stats to make him look bad, because she was a Biden appointee. The problem is, the stats are estimated for the month ahead, then revised accordingly after that period has passed, and the companies actual employment figures come in. The U.S. BLS provides preliminary, second preliminary, and final estimates before annual benchmarking, which further refines the data. The Orange boofhead is upset because the employment stats just released, don't show the massive increase in U.S. employment that the Orange boofhead is looking for, to match all his MAGA BS. Next in line is Jerome Powell, the Federal Reserve chairman. Official U.S. interest rates are currently at 4.33%, a figure set by Powell. He won't change the official rate because he says all the economic indicators don't support any change to the official rate. Trump wants the official interest rate at 1%, and he's scheming how to get rid of Powell, so he can appoint a MAGA loyalist who will do exactly as Trump says. The problem is, it's not so simple to sack Powell, because he's not a political appointee. The Federal Reserve is a stand-alone institution with no political alignment, it was designed that way from Day One. Accordingly, Trump is scheming up a plan to sack Powell for some illegality, such as spending more on the Federal Reserve building improvements in Washington, than what had been approved. Meantimes, Trump is spending an outrageous $200M on a Trump ballroom on the White House grounds. So much for DOGE cutbacks. If Trump sacks Powell, the economic fallout for the U.S. economy (and the global economy) would be huge, as external investors see increased financial risk to the U.S. economy with politicisation of the Federal Reserve - and price in the financial risk, accordingly. It's rare that I link to SBS news articles, but the SBS has this Trump news article right. https://www.sbs.com.au/news/article/what-would-the-global-economic-impact-be-if-trump-tries-to-fire-jerome-powell/3f9w6fcqf Edited August 2 by onetrack spellink.... 4
red750 Posted August 2 Posted August 2 If big business and the rich had any sense, they would dich Trump because he's headed for a bigger disaster than the Hindenburg. 1
red750 Posted August 2 Posted August 2 2 hours ago, onetrack said: He's just organised the sacking of the U.S. Bureau of Labor Statistics, Erika McEntarfer, You wouldn't want to mix up the spelling of her name, McEnfarter. 3
facthunter Posted August 2 Posted August 2 Big business is scared of him and try to buy him off, or sing his praises. He DA (Mafia) BOSS. FU King the whole world. Nev 1
old man emu Posted August 2 Author Posted August 2 3 hours ago, red750 said: You wouldn't want to mix up the spelling of her name, McEnfarter. Poor woman. I bet she suffered all through her school years. The surname McEntafer is likely of Irish or Scottish origin, possibly an Anglicized form of the Gaelic name "Mac anTairbh," meaning "son of the bull". The prefix Mac means son of, and an t-Saoir translates to "the carpenter". So it is name related to a trade or skill. 1
onetrack Posted August 2 Posted August 2 Yeah, right! - I bet their surname originally was McEnfarter, and they had to alter it, because it was an embarrassment to them!! 2
Marty_d Posted August 2 Posted August 2 All I can think of when I see that is "Frankenfurter" (Rocky Horror) 1
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