The trade war with China and Wall Street

When America declared a shooting with Japan after Pearl Harbor we did not win every battle either early on

Reversing 25 years of stupid trade policy with china will take time

 

This trade war is the wrong war at the wrong time with the wrong enemy.

 

There is no bigger enemy of the United States than communist china

And they have been at war with us for 25 years

 

So, you don't know. You bring up historical mumble jumble.

Your source of information is Trump, and he lies about nearly everything. He says China is paying for the tariffs. Americans pay for the tariffs. He says the trade deficit is $550B. He is off by over $100B because he doesn't seem to know we export to China. He says we are losing billions to China not knowing the deficit is not cash, but goods Americans buy and from which American companies profit.



"Stupid trade policy???" Again, you are listening to Trump's lies. At the same time Trump tells us we have the largest and most successful economy in the world with historical lows in unemployment. Our trade policy can't be too bad.

Quit using Trump as your source of information. He surpassed 10,000 lies in June.

 

Russia?

 

If Trump wants to keep his strong stock market gains, he may want to stay off Twitter.

Days when Trump tweets a lot are associated with negative stock market returns, Bank of America Merrill Lynch said Tuesday in a report.

The brokerage’s chief equity strategist, Savita Subramanian, wrote in a note that “since 2016, days with more than 35 tweets (90 percent) by Trump have seen negative returns (-9bp), whereas days with less than 5 tweets (10 percent) have seen positive returns (+5bp) — statistically significant.” A basis point is 0.01 percent.

In other words, when Trump tweets more than usual, the stock market tends to fall.

https://www.cnbc.com/2019/09/03/on-...stock-market-falls-investment-bank-finds.html

 

Trump said on Tuesday that Chinese manufacturing would “crumble” if the country did not agree to the United States’ trade terms, as newly released data showed his trade war was hurting the factories that he had promised to protect.

Days after new tariffs went into effect on both sides of the Pacific, a closely watched index of American manufacturing activity signaled a contraction in United States factory activity for the first time since 2016.

“The U.S. trade war with the world has blown open a great big hole in manufacturers’ confidence,” Chris Rupkey, the chief financial economist at MUFG Union Bank, reported. “The manufacturing sector has officially turned down and is falling for the first time this year as the China tariffs and slowdown in exports has really started to bite.”

As usual, speaking only to his gullible base, Trump tries to refute facts with mindless rhetoric.



Donald J. Trump ✔ @realDonaldTrump

We are doing very well in our negotiations with China. While I am sure they would love to be dealing with a new administration so they could continue their practice of “ripoff USA”($600 B/year),16 months PLUS is a long time to be hemorrhaging jobs and companies on a long-shot.

"Hemorrhaging jobs and companies???" Trump doesn't know we are full employment? Like I said, he only talks to his fans. Besides, due to his trade war, the full employment scenario may not continue much longer. Our President will cause loss of employment, not China.

On Jan. 29, 2018, the Dow stood at 26,439.

The stock market took another major hit today. The Dow lost 285 points, ending up at 26,118.

"China’s Supply Chain will crumble and businesses, jobs and money will be gone!" Trump tweeted today.

His dwindling number of fans are totally silent on the issue.

https://www.nytimes.com/2019/09/03/us/politics/trump-china-trade-war.html helped with this report.

 

Again, it must be repeated:

“The U.S. trade war with the world has blown open a great big hole in manufacturers’ confidence,” Chris Rupkey, the chief financial economist at MUFG Union Bank, reported. “The manufacturing sector has officially turned down and is falling for the first time this year as the China tariffs and slowdown in exports has really started to bite.”

 

Didn't the great republican con man promise the fawning rubes at his traveling carnivals, er, I mean campaign rallies back in '16 that he would "bring back" manufacturing jobs?

Well get a load of this little gem that came out today...

https://www.investors.com/news/economy/manufacturing-index-contracts-china-trade-war/

Not only did the great republican con man not bring back manufacturing jobs … the sector is now in full-fledged RECESSION on the great republican con man's watch!!!


Was all soooooo predictable...

https://www.washingtonpost.com/blog...umps-con-on-manufacturing-jobs/?noredirect=on

 

"China’s Supply Chain will crumble and businesses, jobs and money will be gone!" Trump tweeted today.

China's main stock index closed at its highest level in more than a month on Wednesday, while its currency, the yuan, briefly dipped to a record low in overseas trading.

The Shanghai Composite Index (SHCOMP) ended up 0.2% at 2,930.15, the best close since July 31. It extended a 1.3% rally on Monday. Infrastructure, shipbuilding and consumer electronics stocks continued to lead the market higher after promising economic data on Monday showed China's manufacturing sector expanded to a five-month high.

https://www.cnn.com/2019/09/02/investing/asian-market-latest/index.html

Trump is dangerous. He is becoming a national security risk.

Where the freak is the GOP leadership? Total silence from Mitch and his gang. Does recess cause them to become deaf mutes?

 

Ultimately prices willgoup because of the tariffs

But they have not so far

The goal is to bring factories and jobs back to America

And that sill cost consumers more in the short run

But they will ultimately benefit from a stronger US economy where more of their neighbors are working instead of drawing welfare

 

Not even close

Russia is a pimple on china’s ass

 

Trump's 15% tariff was imposed on Sunday. Stores knew it was coming and stocked up. Give it time. Then there is this.

"The 15% taxes apply to about $112 billion of Chinese imports. All told, more than two-thirds of the consumer goods the United States imports from China now face higher taxes. The administration had largely avoided hitting consumer items in its earlier rounds of tariff hikes." https://www.cnbc.com/2019/09/01/tru...112-billion-in-chinese-goods-take-effect.html

 

I have never denied that making stuff in America will cost more

But it is better for America

 

With a 237 point advance today, the Dow is still less than what it was in January 2018. Trump's trade war with China began in March 2018.

“If I wanted to do nothing with China, my stock market — our stock market — would be 10,000 points higher than it is right now. But somebody had to do this. To me this is much more important than the economy,” our President said today.

Good Lord!

"Somebody had to do this." Why? We have the hottest economy the world has ever known. We have virtual full employment. The trade deficit is normal. Wealthier Americans buy more than the Chinese people. Our economy is 20% larger than China.

What is the freaking problem Trump is trying to solve? He has never answered that question. He just has said he is the "chosen one" who had deal with China.

That is typical Trumpian. Create a problem where none exists.

One person is pleased about the weakening of our economy -- Vladimir Putin, the communist dictator of Russia, Trump's mentor.

 

The Post writes, "Trump has made three key concessions in the past few weeks on matters he had earlier denied or deflected: American companies pay the tariffs on the goods they import; those costs can be passed on to consumers; and those increased costs can lead to an economic slowdown. [Finally, he tells his base the truth. Everyone else knew the truth.]

"Trump has tethered his job performance as president to the stock market and regularly criticized his predecessors when stock market performance was poor.

"For months, Trump blamed the Federal Reserve for the slowing of U.S. economic growth and for the volatility in U.S. markets."

“If [the Fed] would have not done the quantitative tightening, our market would have been up another 10,000 points,” Trump said in June.

That was all a lie. Now Trump has admitted it.

 

Trumpets don't dare touch this thread. Their hero is really blowing it.

 

The lower the Orange Turd drops in the polls due to the economic uncertainty brought about by the trade war the greater the chances of some kind of deal with China being struck.

 

It would be like trying to pick up a turd by the clean end so kinda pointless...

 

I have got good news, and I have got bad news. The good news is the Dow is up over 400 points. We finally have surpassed where we were in January 2018.

The bad news is, the reason for the leap forward is that Chinese officials agreed to resume talks. Meaning, thanks to Trump, Wall Street is dependent upon what China does.

Thank you, Mr. President.

 

The trade deals of the past have had a disasterous effect on American jobs as manufacturing was offshored to benifit corporate profits and the expense of American workers.
Trump is trying to do something to help the workers, and is being crusified by multinational corporations who want to continue to rape both the American worker and the American consumer.

Wise the hell up

 

“If I wanted to do nothing with China, my stock market — our stock market — would be 10,000 points higher than it is right now. But somebody had to do this. To me this is much more important than the economy,” our President said recently.

Good Lord!

"Somebody had to do this." Why? We have the hottest economy the world has ever known. We have virtual full employment. The trade deficit is normal. Wealthier Americans buy more than the Chinese. Our economy is 20% larger than China.

What is the freaking problem Trump is trying to solve?

In a year and a half since this all began, no one has been able to answer that question. Trumpets have even stopped quoting Trump's lies.

Donald J. Trump‏Verified account @realDonaldTrump



The United States has been losing, for many years, 600 to 800 Billion Dollars a year on Trade. With China we lose 500 Billion Dollars. Sorry, we’re not going to be doing that anymore!


4:08 AM - 6 May 2019

That entire tweet is a lie. It is intended for his base. They will believe it.

 

See post 72 and wise the hell up.

Answer the question in the post.

 

Hot economy? If you believe that then you are obviously too young to have ever known what an economy where people make real wages is like.
This economy is a fraud. Perpetrated by massive stimulus, causing asset prices to over inflate benefiting a small minority of unproductive people who make money from speculation. Massive debt both private and public is the only thing holding up this house of cards and now it beginning to crumble.
When it does, it is going to be very, very ugly. Only fools think artificial debt based bubbles are sustainable.

 

You are entitled to your opinion, and I am entitled to mine. You sound like someone who is not succeeding in our hot economy.