Global Impending Economic Doom Thread.

Tariffs are pretty much the opposite of free trade, and they will hurt us, and possible the global economy. Reckless.

As for the stock market, we are below January levels, so it seems we be headed for the worst year since 2008.

 

Certainly for the US, not necessarily for the developing world (given the need to protect infant industry growth). Any resemblance of good sense in trade relations has been given up.

 

I agree with the guy on the video. The recent economic policies are based on short term stimulus, with no long term impact. Will a crash come? Probably, but no one knows how severe. Is 15% drop a crash? We already had a 10+% correction earlier this year. I do not think things are as rosy as some would want us to believe.

 

So, is there a natural law that states only marxists can look at economic indicators?
False juxtaposition fail

 

Nope. It just happens that heterodox schools have a better understanding of capitalism. "Its self-correcting" is alright if you have a preference for sand around your ears, but it tends to be bleedin useless for understanding economic crisis.

 

Sez the champion of manged markets

 

I'm sure this makes sense in an episode of Sliders. Sorry, couldn't be arsed to watch it.

 

We haven't had capitalism since 1913.

 

Interesting. Let me know when you've finished counting your beans.

 

Don't be silly!! All nations already have tariffs. Trump is merely adjusting ours up to average levels to encourage all nations toward free trade or zero tariffs. Do you understand now that it is responsible not reckless?

Trump and EU officials agree to work toward 'zero tariff' deal | US news ...

https://www.theguardian.com/us-news/.../trump-juncker-trade-war-eu-zero-tariff-deal
Jul 25, 2018 - Donald Trump and European Union officials on Wednesday stepped back from a trade war as they struck a deal to work towards “zero” tariffs,

 

This is idiotic to the extreme. The WTO has already made great strides in eliminating tariff. That's why the focus changed to non-tariff protectionism. And of course Trump has been attacking the WTO too!

 

actually stock market is 3 times higher than 2008!! If you had bought in 2008 you would have tripled your money! Do you understand?

 

and USA still has lowest which Trump wants to correct by moving all nations to zero tariffs
Trump and EU officials agree to work toward 'zero tariff' deal | US news ...

https://www.theguardian.com/us-news/.../trump-juncker-trade-war-eu-zero-tariff-deal
Jul 25, 2018 - Donald Trump and European Union officials on Wednesday stepped back from a trade war as they struck a deal to work towards “zero” tariffs,

 

Yes, I am well aware it has tripled since it bottomed in 2009 (not 2008 ). I was talking about this year.

 

It is not possible to "more all nations to zero tariffs" with bilateralism. That requires multilateralism. And the idea that provoking trade wars is a positive continues to be cretinous.

 

US had already negotiated zero-tariff deals with EU, most of Asia, Canada and Mexico, so this whole thing seems like a waste of time and has done nothing except poison the well we share with our allies. It's bad politics.

 

Capitalism is mostly when 1) people shop with their own money 2) prices are published 3) suppliers compete on basis of price and quality 3) all economic relationships are voluntary.

By that standard we have lots of capitalism except, primarily, in health care. Socialism in health care is far more costly than fiat monetary policy

 

As I said we have lowest tariffs except for Australia so lots of works still to be done especially with China! Its good politics to get elected and Trump got elected by Democrats who saw their jobs shipped offshore while Obama hid under his desk. Do you understand now?

 

Yes, I understand you like Trump very much. I am not a Democrat, or Obama supporter but so far I am unimpressed with Trump and his nonsense. We had zero-tariff deals, so there was no need to start a trade war. Bad/stupid politics.

The company I worked for started offshoring in 2001 (Bush), so trying to pin it on one person, or party is not going to work, and nor will that attitude resolve the problem. Indians have taken over IT industry and will take over healthcare using "merit based immigration" which is only accelerating. It is not getting better.

 

Without honest market price discovery of money, there is no capitalism

 

Honesty? That's a good one. Without exploitation of worker, there is no capitalism.

 

Well now you've jumped into emotional hyperbole