Happy “Liberation Day” aka Economic Disaster Day

[CdnFox]

31 minutes ago, SpankyMcFarland said:

And we’ve just obtained exclusive footage of White House negotiations with a Heard Islander:

 

Ok, that was funny i don't care who you are.  

[Aristides]

4 hours ago, gatomontes99 said:

Wow. We negotiated down from NAFTA that destroyed our manufacturing to a less bad deal. Now we are coming back for a fair deal. To you that means we were wrong? No. It means we got half the loaf yesterday and we are getting the rest today.

That's not even remotely related to what we were talking about. We were talking about the effect of tariffs.

Bullshit, your manufacturing went to Asia along with Canada's. The only effect of tariffs on Canada US trade has had is the lack of them. BTW, you already had a tariff on Canadian lumber for years.

Your Stable Genius negotiated USMCA and called it "the best deal ever" Now you are saying he wasn't much of a genius.

Wonder how much Trump voters are enjoying their 401K's and other pension plans and savings going up in smoke.

[I am Groot]

4 hours ago, Nationalist said:

These Libbies...so freaked out by this rather large nothingburger.

 

 

[I am Groot]

 

[Hodad]

5 hours ago, I am Groot said:

No, it's not. This is taking from the working class and giving to the rich. The idea, as I understand it, is to have more taxes paid by those who import stuff thus lowering income taxes. Income taxes are disproportionately paid by the rich. Any cut to income taxes thus disproportionately benefit the rich. Now the rich do import goods, but the cost is largely a big 'meh' to them. And the great mass of imports is cheap stuff made in China, Indonesia, Vietnam, India, Mexico, etc. Cheap toys, tools, cars, appliances, etc. The tariffs are going to hit all of that and will be no 'meh' to the working class or even the middle class.

If you slap a 50% tax on something that's not, as Liesman said on CNBC going to discourage purchase, it's basically shutting down that trade. That will mean more products are made in the US, but they will cost more. Not just because it costs more to make things in the US but because American companies will be able to largely ignore foreign competition. Historically, see how crappy US cars were until Japanese and then German cars began to export to the US. People were amazed at how they actually worked and didn't need constant repairs and lasted so long.

So Americans will have to pay more for their toys, their cars, their dishes, their appliances, computers, cell phones, clothing, hell, even their plastic trash cans. The rich won't care. The drop in their taxes will more than make up for it. Not so for the working classes.

Everything you say here is correct. However talking in isolation about tariffs (rather than inclusively about tax cuts for the wealthy) as Gatomontes was doing simply means making working class people pay more for goods so that (hypothetically) other working class people can have jobs. 

Jobs are great, but the approach is wildly ignorant and haphazard.

[Aristides]

6 hours ago, gatomontes99 said:

My eyes rolled so far back in my head that I saw my neck hair.

You are just making shit up. Stop. In the first term, Trump levied tariffs on China and various goods. The end result was job growth, wage growth (including minorities that saw the biggest gain in wages) and price stability. They worked. Despite all the same left wing nut job economists (i.e. Krugman) saying it would bring on massive job losses, inflation and recession. It never happened.

The end result was government having to give massive subsidies to soybean farmers as they watched South American countries take over as Chinese soybean suppliers.

[I am Groot]

31 minutes ago, Hodad said:

Everything you say here is correct. However talking in isolation about tariffs (rather than inclusively about tax cuts for the wealthy) as Gatomontes was doing simply means making working class people pay more for goods so that (hypothetically) other working class people can have jobs. 

Jobs are great, but the approach is wildly ignorant and haphazard.

The US unemployment rate is just over 4%. If you want a job in the US you have one. The people who don't have jobs are those who live in the inner cities and never even looked for one because that's not their way of life. Besides, they dropped out of their crappy, violent schools before graduating.

[Aristides]

If Trump is planing on using tariff revenues to finance tax cuts, it means US consumers will have to pay the tariffs to finance the cuts and federal debt will just keep rising because there is no attempt to use the revenues to reduce it. If the tariffs work and stop imports, there will be no tariff revenues to use to finance the cuts. This really is bogus, shell game, bait and switch economics.

[BeaverFever]

7 hours ago, Nationalist said:

Good luck with that...Loser.

MARKETS LOST $1.7 TRILLION TODAY ALONE YOU DUMBASS

And that’s on top of the $5 trillion its lost in recent weeks because of this nonsense 

Biggest one day drop since the COVID shock in March 2920

 

 

 

 

[BeaverFever]

8 hours ago, gatomontes99 said:

It does make that assumptio. And it isn't wrong. Take Canada and dairy as an example. Wisconsin produces more dairy products than all of Canada. But, if we exceed a certain limit, our tariffs on dairy go up to +200%. Why do you think we don't reach that limit?

Dude as I already explained to you:  USA HAS A TOTAL BAN on Canadian Dairy above its limit. America doesn’t want or need Canadian dairy. Canada doesn’t want or need US dairy, both countries overproduce and have to dump excess milk.  And yet we still buy more of your dairy then you buy from us so quit your bichin you have no moral leg to stand on. 

You’re only telling one side of the story because you’re being dishonest 
 

Edited 18 hours ago by BeaverFever

[Nationalist]

3 hours ago, I am Groot said:

 

 

And?

1 hour ago, BeaverFever said:

MARKETS LOST $1.7 TRILLION TODAY ALONE YOU DUMBASS

And that’s on top of the $5 trillion its lost in recent weeks because of this nonsense 

Biggest one day drop since the COVID shock in March 2920

 

 

 

 

Lol...good thing my investments didn't suffer, eh?

[BeaverFever]

8 hours ago, I am Groot said:

Canada's moronic dairy supply management system was part of the last trade negotiations with the US and the US agreed to ignore it in exchange for Canada giving way on other trade items.

I don’t know any system that works better than supply management. The US system Americans pay for dairy twice: once at the grocery store and again through taxpayer funded subsidies. Americans pay for dairy even if they hate it, and are deathly allergic to it, through their taxes.  And yet US dairy farmers still struggle and are financially worse off than Canadian counterparts while still producing milk they know they can’t sell and end up dumping. 
 

Eggs is the same story and all you need to do is look at the bird flu egg disaster that’s been unfolding for months now in the US but hardly affecting Canada to see the superiority of our system. 

[Hodad]

9 hours ago, gatomontes99 said:

My eyes rolled so far back in my head that I saw my neck hair.

You are just making shit up. Stop. In the first term, Trump levied tariffs on China and various goods. The end result was job growth, wage growth (including minorities that saw the biggest gain in wages) and price stability. They worked. Despite all the same left wing nut job economists (i.e. Krugman) saying it would bring on massive job losses, inflation and recession. It never happened.

Lol. You live in an echo chamber fantasy land. 

Trump inherited a strong Obama economy, enacted tax cuts (mostly for the wealthy), enacted tariffs and STILL performed worse on jobs than the economy he inherited. This bullshit about tariffs bringing jobs back to the US during Trump 1 is pure wishful thinking. 

 

Obama created 1.6 million more jobs than Trump over a three-year period

"Trump’s boasts about how many jobs he has added don’t include that he has generated 6.5 million jobs under his Presidency vs. the 8.1 million, or 1.6 million fewer than Obama did under the same timeframe. On average Obama created 43,000 more jobs per month than Trump."

 

^^and that's before we even get to the COVID mismanagement.

You don't have a clue.

[User]

43 minutes ago, BeaverFever said:

Eggs is the same story and all you need to do is look at the bird flu egg disaster that’s been unfolding for months now in the US but hardly affecting Canada to see the superiority of our system. 

Well... superiority is measured in different ways. 

You pay significantly higher prices on average all the time. We pay higher prices in spikes around bird flu outbreaks. 

 

[Hodad]

2 hours ago, I am Groot said:

The US unemployment rate is just over 4%. If you want a job in the US you have one. The people who don't have jobs are those who live in the inner cities and never even looked for one because that's not their way of life. Besides, they dropped out of their crappy, violent schools before graduating.

The intent is to replace low paying service and gig jobs with higher paying manufacturing work. It's not an unreasonable desire, but there are much smarter ways build up manufacturing. Perhaps without strangling the economy and crushing consumers with this thoughtless, regressive trade war.

[robosmith]

1 hour ago, Nationalist said:

And?

Lol...good thing my investments didn't suffer, eh?

Tell us about your portfolio which lost nothing today.

[Aristides]

Not just the stock market, the US dollar was down against every major currency. 

https://finance.yahoo.com/news/dollar-slides-concern-trump-tariffs-070440166.html

Which would actually help the US. The over valued dollar is the biggest reason for its trade deficits.

Edited 16 hours ago by Aristides

[BeaverFever]

3 hours ago, Nationalist said:

And?

Lol...good thing my investments didn't suffer, eh?

So now you don’t care if the economy is destroyed because you think your personal assets are safe?

 

And I hate to break it to ya,  you’re never getting your crypto out of that Russian bank. 

[gatomontes99]

5 hours ago, BeaverFever said:

MARKETS LOST $1.7 TRILLION TODAY ALONE YOU DUMBASS

And that’s on top of the $5 trillion its lost in recent weeks because of this nonsense 

Biggest one day drop since the COVID shock in March 2920

 

 

 

 

Buy buy buy. The best thing that can happen is a market crash. Buy everything you can.

4 hours ago, BeaverFever said:

Dude as I already explained to you:  USA HAS A TOTAL BAN on Canadian Dairy above its limit. America doesn’t want or need Canadian dairy. Canada doesn’t want or need US dairy, both countries overproduce and have to dump excess milk.  And yet we still buy more of your dairy then you buy from us so quit your bichin you have no moral leg to stand on. 

You’re only telling one side of the story because you’re being dishonest 
 

You are missing the point.

[gatomontes99]

3 hours ago, Hodad said:

Lol. You live in an echo chamber fantasy land. 

Trump inherited a strong Obama economy, enacted tax cuts (mostly for the wealthy), enacted tariffs and STILL performed worse on jobs than the economy he inherited. This bullshit about tariffs bringing jobs back to the US during Trump 1 is pure wishful thinking. 

 

Obama created 1.6 million more jobs than Trump over a three-year period

"Trump’s boasts about how many jobs he has added don’t include that he has generated 6.5 million jobs under his Presidency vs. the 8.1 million, or 1.6 million fewer than Obama did under the same timeframe. On average Obama created 43,000 more jobs per month than Trump."

 

^^and that's before we even get to the COVID mismanagement.

You don't have a clue.

Obama bought those jobs by growing government. Just like O'Biden did.

[Nationalist]

5 hours ago, robosmith said:

Tell us about your portfolio which lost nothing today.

I have in other threads. Look it up.

[BeaverFever]

6 hours ago, gatomontes99 said:

Buy buy buy. The best thing that can happen is a market crash. Buy everything you can.

LMAO oh right.  Now I remember Trump promising that if you elect him and the stock market will crash like never before. 
NOT

You people will say anything. Pathetic. 

6 hours ago, gatomontes99 said:

You are missing the point.

Because you don’t have any coherent point. 
 

 

[User]

1 hour ago, BeaverFever said:

You people will say anything. Pathetic. 

You say this as if you are not the exact same person, but on the opposite end of the political spectrum is all. 

[BeaverFever]

58 minutes ago, User said:

You say this as if you are not the exact same person, but on the opposite end of the political spectrum is all. 

Once again: your refusal to comment on the actual topic of this thread other than cheap insults is your silent confirmation that I’m correct. 

[Aristides]

9 hours ago, gatomontes99 said:

Buy buy buy. The best thing that can happen is a market crash. Buy everything you can.

You are missing the point.

You do that, the sellers want your money.

https://www.bnnbloomberg.ca/investing/2025/04/04/chief-strategist-who-foresaw-tariff-shock-says-worst-is-yet-to-come/

 

So far today.