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A day without stupid?

TV and credit cards said:
DrZoidberg said:
I've got a group of friends who are investment bankers and economists. I'm on the same mailing list. They explained Trump's tariffs. If the goal is just to move manufacturing jobs to USA, then tariffs will be introduced gradually. It takes time to move factories. There's a lot of planning and negotiation that goes into it.

The only reason to put tarriffs in place like Trump has done now is as a disguised tax. It'll give a quick, short term, infusion of cash to the US government coffers. What Trump wants to do with that money is anyone's guess. One possible theory is that it's magic with numbers. Ie Trump wants to show a budget surplus. Perhaps to prove that DOGE is working. But that won't be real economic growth. This budget surplus will come at the cost of the inevitable slowing of all economies connected to USA, as well as the US economy. US real purchasing power will drop sharply. There's no way he doesn't understand that.

They all prophecied that Musk is on the way out of the inner Trump circle. There's no way a guy like Musk wants to be associated with tariffs. Especially not since China has Musk by the balls.

Anyway... I'm just reporting what smarter people than me are saying about it.
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What the US might take in from tariffs is suppose to be more than offset by the expected decrease in tax revenue. Seems Trump being in office encourages many to simply not pay their taxes and there have been enough firings at the IRS to make any serious attempt at collection unlikely.
Just another chapter in How to Turn a Superpower into a Third World Shithole by Donald Trump.
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But according to Trumptards it's still to early to say whether or not it is a good thing. :rolleyes:

To put things into context about how much of a fuckup Trump's tariffs are let me provide some context. On May 3 Australia is having a Federal Election. Last night on ABC news the first story was how much Trump is fucking up the global economy and it was three times longer than coverage in Australia's upcoming election that's less than a month away. And then they revisited it again in the finance block of the news.
 
I know posting a video clip without comment but the quote speaks for itself. "Losing money costs you nothing."



Fine, I'll provide some context; Benny Johnson is a regular on the Jimmy Dore show. This is MAGA's take on the economy.
 
Michele Fiore, AKA "Lady Trump", a long time politician who was infamous in her ad for shooting beer bottles marked 'vaccine mandates' next to her campaign bus has been convicted of fraud. She had set up a charity for donations for a memorial of a slain police officer but instead used the funds on plastic surgery and her daughter's wedding. She faces up to 20 years in prison.

However the charges are Federal and she could be pardoned by Trump.

bsky.app

Stephanie Kennedy (@wordswithsteph.bsky.social)​

Her name is Michele Fiore, a.k.a. “Lady Trump.” She’s a scheming, thieving, Trump-loving clump of vanity and greed. On October 3, 2024, a federal jury in the District of Nevada convicted Fiore of conspiracy to commit wire fraud and six counts of wire fraud. Each count carries a maximum penalty…
bsky.app
bsky.app
 
Again quoting my economist friends. Or a friend. He made an awesome comment, "Trump wants to use the tariffs to pay off some of USA's unwisely aquired debt. Why would the rest of the world be ok with that? Xi is winning the propaganda war".

It's anyone's guess what Trump's plan is for the money the US government will amass with the tariffs. This one is a good theory IMHO
 
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DrZoidberg said:
It's anyone's guess what Trump's plan is for the money the US government will amass with the tariffs.
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It's not really important what Trump's plan is for the money the US government will amass with the tariffs. The amount of money involved is utterly insignificant in relation to the US budget, and even less significant in relation to the US national debt.

There will be no "amassing" going on, regardless of his plans, or hopes.

And while the tariffs might bring in a small amount of money in the short term, the amount will rapidly diminish as the tariffs drive the US into recession, and drag the rest of the world along for the ride.

The tariffs won't provide the US with money to plan on spending; On the contrary, they will produce a far larger debt.

Planning how to spend the money the US government will amass with the tariffs is as useful and necessary as it would be for me to plan what to spend my millions on, now that I have decided to "invest" my whole paycheck on lottery tickets every week. Indeed, such a decision is economic brilliance on a par with Trump's tariff scheme.
 
bilby said:
DrZoidberg said:
It's anyone's guess what Trump's plan is for the money the US government will amass with the tariffs.
Click to expand...
It's not really important what Trump's plan is for the money the US government will amass with the tariffs. The amount of money involved is utterly insignificant in relation to the US budget, and even less significant in relation to the US national debt.

There will be no "amassing" going on, regardless of his plans, or hopes.

And while the tariffs might bring in a small amount of money in the short term, the amount will rapidly diminish as the tariffs drive the US into recession, and drag the rest of the world along for the ride.

The tariffs won't provide the US with money to plan on spending; On the contrary, they will produce a far larger debt.

Planning how to spend the money the US government will amass with the tariffs is as useful and necessary as it would be for me to plan what to spend my millions on, now that I have decided to "invest" my whole paycheck on lottery tickets every week. Indeed, such a decision is economic brilliance on a par with Trump's tariff scheme.
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Sure. But Trump is a showman. He wants to have "wins" that he can show off to the American people as evidence of how great he is. There's got to be a point to his actions.

Another theory, one that I came up with, could be that he just likes the attention. That he gets off on that all the most powerful people in the world is right now sucking his cock to get the tariffs down.
 
DrZoidberg said:
Again quoting my economist friends. Or a friend. He made an awesome comment, "Trump wants to use the tariffs to pay off some of USA's unwisely aquired debt. Why would the rest of the world be ok with that? Xi is winning the propaganda war".

It's anyone's guess what Trump's plan is for the money the US government will amass with the tariffs. This one is a good theory IMHO
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That has nothing to do with it. Trump doesn't give a shit about the nation's debt.

It's just another grift. Tariffs for everybody then industry bigwigs trot to Mar A Lago, kiss his ass, drop some coin on his crypto, and, just like magic, your industry is exempt.

www.thelondoneconomic.com

Trump's tariff reverse slammed as 'grifting at its finest'

A US politician has labelled Donald Trump's tariff u-turn "grifting at its finest" which was "designed to make billionaires richer."
www.thelondoneconomic.com www.thelondoneconomic.com
 
www.detroitnews.com

Trump turns a COVID information website into a promotion page for the lab leak theory

The web page also accuses Dr. Anthony Fauci, the former director of the National Institute of Allergy and Infectious Diseases, of pushing a “preferred narrative” that COVID-19 originated in nature.
www.detroitnews.com

A federal website that used to feature information on vaccines, testing and treatment for COVID-19 has been transformed into a page supporting the theory that the pandemic originated with a lab leak.

The covid.gov website shows a photo of President Donald Trump walking between the words “lab” and “leak” under a White House heading. It mentions that Wuhan, China, where the coronavirus first began spreading, is home to a research lab with a history of conducting virus research with “inadequate biosafety levels.”
 
bilby said:
Apparently the Trump administration has imposed specific tariffs on the Heard and McDonald Islands, which are part of the Australian Antarctic Territory.

The only inhabitants of these islands are penguins.

https://www.theguardian.com/us-news...antarctica-uninhabited-heard-mcdonald-islands

Despite this, according to export data from the World Bank, the US imported US$1.4m (A$2.23m) of products from Heard Island and McDonald Islands in 2022, nearly all of which was “machinery and electrical” imports. It was not immediately clear what those goods were.
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I am prepared to bet that these goods were 'an error in the collection and/or compilation of the World Bank's data', given the complete absence of industry in the islands.

People need to stop blindly trusting datasets; All non-trivial datasets contain errors, it's an unavoidable fact of life.
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It doesn't even need to be an error. He appears to have simply decided to impose tariffs so as to make trade with the nation equal (as if it would continue at current levels.) An uninhabited island will not have trade in the normal sense but there likely is scientific stuff. I find it quite plausible that we might have a "trade" "deficit" from this. We have seen other cases where they fail to consider edge cases in analyzing data, this might just be another.
 
President Trump said:
I’m just saying they don’t need to have 30 dolls. They can have three. They don’t need to have 250 pencils. They can have five.
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A chicken in every pot, five pencils on every desk. The tariffs will make us rich. Somehow spending more on stuff will make us rich because we'll use that extra stuff we spent... on tax cuts for the ultra-wealthy.
 
DrZoidberg said:
I've got a group of friends who are investment bankers and economists. I'm on the same mailing list. They explained Trump's tariffs. If the goal is just to move manufacturing jobs to USA, then tariffs will be introduced gradually. It takes time to move factories. There's a lot of planning and negotiation that goes into it.

The only reason to put tarriffs in place like Trump has done now is as a disguised tax. It'll give a quick, short term, infusion of cash to the US government coffers. What Trump wants to do with that money is anyone's guess. One possible theory is that it's magic with numbers. Ie Trump wants to show a budget surplus. Perhaps to prove that DOGE is working. But that won't be real economic growth. This budget surplus will come at the cost of the inevitable slowing of all economies connected to USA, as well as the US economy. US real purchasing power will drop sharply. There's no way he doesn't understand that.

They all prophecied that Musk is on the way out of the inner Trump circle. There's no way a guy like Musk wants to be associated with tariffs. Especially not since China has Musk by the balls.

Anyway... I'm just reporting what smarter people than me are saying about it.
Click to expand...
Yeah, this implies that Trump has some kind of strategy in mind. One of his staffers from the first administration was asked if Trump had a strategy, like he was playing chess with his adversary. The staffer replied that Trump didn't do strategy, or chess, or even checkers. He just ate the pieces.
 
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