2024 Presidential Election

[Long Time Spider Fan]

Enacting tariffs causes tit for tat. Tariffs cause tariffs. Foreign countries react by enacting tariffs. US companies relying upon imported raw materials have to raise prices. Unaffected companies now have price protection and rarely refrain from adding "free money" to profits. This affects the global competitiveness of US companies. Once enacted, the affected countries match or raise tariffs. This hurts our exporters (think, say, farmers exporting soy beans to China). To cut tariffs as Biden could have done invites a imbalanced situation. Who blinks first (especially if its China) when reversing them? Adding more tariffs as Trump proposes exacerbates and heightens the situation.

Tariffs are inflationery to the country charging the tariffs. Trump coninuously lies about tariffs and claims that they are paid by the country exporting products to the US, when of course the tariffs are paid by the buyers of the products, which result in higher prices reflected by the added tariffs. Tariffs are certainly not bad in all situations, but tariffs enacted under the guise of collecting money from the exporting country are misleading since the increased cost is paid by the buyers. This aspect of Trump's economic plan will increase, not decrease, inflation.

 

[SpiderRick]

When did we become less energy independent in the past four years? When our production hit an all-time high?

A guy who calls dead soldiers "losers and suckers" is not a friend of the military. In fact, almost all of his former military commanders believe he's a complete and total moron.

Yes, we do know what Trump has done. As I recall, "the devil we know" attempted to overthrow the government.

Trump wasn't president in the last 4 years. You been asleep?

 

[KE Spider]

Off Topic, off topic post. Anyone ever feel like Rodney Dangerfield?

Went for my annual dermatologist visit last week. Asked about bruising on my hands and wrinkles on my massive biceps ( ). She told me "we don't have a time machine."

Went for my annual physical last week too. Doc asked if I was still smoking and how long had I smoked. Honestly told him 45 years. Doc said, "You should already be dead."

As is my custom every morning was on screened porch perusing news/sports/weather. Wife (dementia issues), who I dearly love, comes out and says "What are you doing here? Thought you were gone after stealing all my money."

Whew. Wowsa.

Yesterday's 38-0 football victory was tonic to my mind, body and soul after the week. 😊

 

[Gallipoli]

Let's take them one at a time... Harris' and Biden's policies caused inflationary pressures on the economy.

The act of pumping in trillions of additional funds between 2021 and the end of 2022 was inflationary. This is especially true given that the economy had too much money chasing too few goods. There are substantial supply chain disruptions, because of COVID, which exacerbated the situation. This was worsened because of Biden's restrictions on oil production, which led to price spikes in fuel costs. This micro economic action rippled through the economy, which affected almost all of the prices of domestically produced commodities. This came on the heels of the stimulation effect of historically low interest rates, which ranged at 0 to 1%. As a result, inflation spiked to more than 9% in 2022.

How is this analysis wrong?

I am still waiting for a response. Didn't anyone take Econ at Richmond? Anyone?

 

[KE Spider]

Galli, there is no reasonable response. It was a brain dead decision.

No less than Larry Summers, former Harvard President, former Secretary of Treasury under President Clinton, former Director of National Economic Council, a die hard Democrat, publicly warned Admin's policy would unleash inflation. Ignored him.

Ignorant malfeasance on behalf of this Administration. Don't know what comes next, but confident can't be more inept than this Administration.

 

[Wood Hall]

Trump wasn't president in the last 4 years. You been asleep?

No. Oil production and oil profits are at all-time highs. So despite what the GOP keeps trying to say, the petroleum industry has not been "decimated." It's prospering.

The last time Trump was president, he tried to overthrow the government. Were you asleep on Jan. 6, 2021?

 

[KE Spider]

No. Oil production and oil profits are at all-time highs. So despite what the GOP keeps trying to say, the petroleum industry has not been "decimated." It's prospering.

True. Lots of disinformation from both parties.