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‘Straight up stupid,' 'incompetent' and 'misguided’: Economist Adam Posen rips Trump's tariffs

Discussion in 'Political Opinions & Beliefs' started by Lee Atwater, Mar 2, 2018.

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  1. Lee Atwater

    Lee Atwater Well-Known Member Past Donor

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    https://www.cnbc.com/2018/03/02/tru...riffs-criticized-by-economist-adam-posen.html

    President Donald Trump's proposed tariffs on steel and aluminum imports are "straight up stupid," a top economist told CNBC on Friday.

    Trump's tariffs announcement Thursday night has been broadly condemned by international community at large.

    "This is just straight up stupid," Adam Posen, president of the Peterson Institution for International Economics, said Friday. "This is fundamentally incompetent, corrupt or misguided."

    Posen, who served at the Federal Reserve Bank of New York in the mid-1990s, currently sits on the panel of economic advisors to the U.S. Congressional Budget Office.

    The president's protectionist move, which would impose a 25 percent levy on all steel imports and 10 percent on aluminum, has garnered widespread criticism, with trade partners of the U.S. already threatening to retaliate. Downstream producers of steel and aluminum products — including car, plane and consumer goods manufacturers — say it will jack up their costs, and experts fear a trade war that could harm global growth.

    U.S. automaker and plane manufacturer stocks closed sharply lower on Thursday trading, and stocks for metals producers in Europe and Asiasaw losses on Friday morning's open.
    ....................................................................................
    And then, in classic Drumpfian fashion, Don doubles down on the idiocy.

    Trump: 'Trade wars are good, and easy to win'

    https://www.cnbc.com/2018/03/02/trump-trade-wars-are-good-and-easy-to-win.html
     
    Lee Atwater, Mar 2, 2018
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  2. Lesh

    Lesh Banned

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    This is Trump screwing with the news cycle

    And it's got a COST

    This insane buffoon has to go
     
    Lesh, Mar 2, 2018
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  3. BestViewedWithCable

    BestViewedWithCable Well-Known Member

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    Oh sure, it probably will harm global growth, but it expand American growth.

    America first FMers !!!!!

    Send the commie to gitmo !!!
     
    BestViewedWithCable, Mar 2, 2018
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  4. Heartburn

    Heartburn Well-Known Member

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    I read an article this morning in which a govt spokesperson from another country said it would cost his people jobs. I thought "hmmmm, imagine that."
     
    Heartburn, Mar 2, 2018
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  5. Lesh

    Lesh Banned

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    So Trumpers WANT a trade war?
     
    Lesh, Mar 2, 2018
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  6. BestViewedWithCable

    BestViewedWithCable Well-Known Member

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    Nope, Trumpers want a vibrant and growing American steel and aluminium industry.

    Im sorry China over produced and cant get rid of their excess.

    Its not Americas problem. Have China dump their trash on Europe.
     
    Last edited: Mar 2, 2018
    BestViewedWithCable, Mar 2, 2018
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  7. Lee Atwater

    Lee Atwater Well-Known Member Past Donor

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    Right. Because if we have learned anything over the last 25 years it's that all economies exist in a bubble and are not interdependent.

    You do understand that things we import are going to get more expensive and our exports will be cut, right? This is inflationary and at the same time threatens to cause higher unemployment.
     
    Lee Atwater, Mar 2, 2018
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  8. Lesh

    Lesh Banned

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    So you want a trade war but don't want to admit it?
     
    Lesh, Mar 2, 2018
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  9. Daniel Light

    Daniel Light Well-Known Member

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    What could possibly go wrong with a trade war .... they’ve always been so successful in the past.
     
    Daniel Light, Mar 2, 2018
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  10. Lee Atwater

    Lee Atwater Well-Known Member Past Donor

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    This is like watching an eight year old trying to captain a nuclear submarine. This moron is in way over his head. I wouldn't be surprised if Gary Cohn resigns over this unbelievably stupid thing to do.
     
    Lee Atwater, Mar 2, 2018
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  11. Lee Atwater

    Lee Atwater Well-Known Member Past Donor

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    Perhaps some day we'll learn Don had a surrogate short the market before the announcement.
     
    Lee Atwater, Mar 2, 2018
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  12. Heartburn

    Heartburn Well-Known Member

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    Sure, let 'er rip. We've been in a trade war for decades and we have been losing.
     
    Heartburn, Mar 2, 2018
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  13. Lee Atwater

    Lee Atwater Well-Known Member Past Donor

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    That's the kind of ignorance that lead to this buffoon getting elected in the first place.
     
    Lee Atwater, Mar 2, 2018
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  14. Stevew

    Stevew Well-Known Member

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    WRONG! There are dozens of economic philosophies, and 1000's of economists. You are quoting one idiot that doesn't like Trump.

    It is also pure speculation about what MIGHT happen.

    Steve
     
    Stevew, Mar 2, 2018
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  15. 9royhobbs

    9royhobbs Well-Known Member

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    No, no it won't
     
    9royhobbs, Mar 2, 2018
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  16. BestViewedWithCable

    BestViewedWithCable Well-Known Member

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    Yes it will.
     
    BestViewedWithCable, Mar 2, 2018
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  17. 9royhobbs

    9royhobbs Well-Known Member

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    And you think that's a good thing. What country? Do you think this will have a positive effect here? How?
     
    9royhobbs, Mar 2, 2018
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  18. Guyzilla

    Guyzilla Well-Known Member Past Donor

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    Honest to God, you right wingers would give up BACON if Trump told you to.
     
    Guyzilla, Mar 2, 2018
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  19. 9royhobbs

    9royhobbs Well-Known Member

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    According to who? I thought the economy was going gangbusters because of Trump.
     
    9royhobbs, Mar 2, 2018
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  20. 9royhobbs

    9royhobbs Well-Known Member

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    Other than all evidence to the contrary.
     
    9royhobbs, Mar 2, 2018
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  21. drluggit

    drluggit Well-Known Member

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    I recall your forceful agreement to so many trade war policies when they were Obama's efforts, and rebranded as... sanctions.... Because those aren't the same thing? right? Explain the Obama support then of the use of subsidies or other trade supports that assist say farmers?

    Posturing isn't the same thing as consistency.
     
    drluggit, Mar 2, 2018
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  22. Lesh

    Lesh Banned

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    Until Trump reverses himself again...and then Trumpers will have NEVER wanted a trade war

    Jesus
     
    Lesh, Mar 2, 2018
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  23. Stevew

    Stevew Well-Known Member

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    If I actually went into detail about why I believe what I believe about economics, then you would be confused since you obviously have no clue about economics.

    Steve
     
    Stevew, Mar 2, 2018
    #23
  24. Lesh

    Lesh Banned

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    But but....OBAMA!!!!
     
    Lesh, Mar 2, 2018
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  25. Lesh

    Lesh Banned

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    Oh please do so. This should be funny
     
    Lesh, Mar 2, 2018
    #25
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