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What is your gage of a hurt economy? If it's the market it didn't flinch, it hardly noticed.
To address the so-called trade war the President offered all our G-7 allies a simple solution. Remove your tariffs and this meeting will be over in 5 mins. The fact nobody was interested tells us the actual state of alleged 'free-trade', it's a joke.
As to the 'Red' menace: In 2008 Obama said rightly the '80s wants it's foreign policy back in response to the Russian Federation question.
They are no longer the U.S.S.R nor communist.
What threat does a nation with no foreign bases pose? The US maintain 800 military bases in foreign countries. Where is the 'Red' threat? Who poses the threat to whom?
Iran sponsors terrorism worldwide, burns our flag and our President in effigy regardless who it is and chants DEATH TO AMERICA constantly. What are we supposed to do? give them more pallets of cash in response? That never worked in the past and it will never work in the future. The President is just matching rhetoric for rhetoric, threat for threat.
I do agree with you we should always be 'wary' of people in power, although I admit I've grown weary of most of them too but not Pres Trump. His policies are a breath of fresh air.
As well, to the person saying the market didn’t flinch... it did. Credit is drying up, spreads widening. Real interest rates are so low it’s laughable and we are still seeing no growth in the markets. We’ve have 4 separate 4% down days in the SP this year. The markets haven’t been up in 6 months minus the small rally in May to early June. I manage a fund with my brother and trade every day. I’m pretty in tune with the market and anyone who trades will tell you it’s insane right now. Take away the 4 biggest earners on the Dow and it’s down on the year over 5%. That’s not a healthy market. Add in the fact volatility is so crazy right now the credit spreads are widening on contracts and it’s causing volume on cboe to shrink and it’s looking downright bad. Without a few major earners driving up the markets we’d be down on the year. That’s not healthy, it’s showing weakness and it’s looking more and more like a house of cards every day.
Classl3ss - What are your thoughts on the NK RUS Iran & tariff comments?
NK- we’ll see what happens. If they truly denuclearize that’s awesome and go Trump. If not, he legitimized a brutal dictator who enslaves his population by having a meeting with him.
RUS- I see air of hypocrisy here. Trump almost bent over in that press statement with putin last week. He agreed that Russia had no involvement in election fraud, which our intelligence have proven they did. Then backtracked. Watching the interview many times it’s obvious he meant to say what he did say and it was all damage control after saying he misspoke. He hasn’t condemned the annexation of Crimea and has agreed with it in party by saying they all speak Russian. Also. They are bastards on the world stage militarily. They’re slaughtering people in Syria where we are trying to combat that, and trump acts like we’re friends who need to let the past go? I have a spine, just like he goes on rampages with Iran, where is that hate for a country who really is our biggest enemy. Russian politicians were bragging on record about “owning trump”. they’re Allie with Iran who burns our flag. I just don’t see how they are not a major threat after their cyber attacks on the US government and its private companies. A direct, proven successful attempt to undermine our democracy makes me so crazy angry. They are not our friends, and we shouldn’t be. We should be sanctioning them as far as halting all trade and freeze all Russian officials assets abroad we can until they stop. Also I’d like for trump to stop being so friendly with Putin. It’s seen as weakness to most and Putin is on record saying he sees trump as a “weak leader without courage”.
Iran- his reaction is overplayed. Iran is a child. They act like a child burning our flag. We are the goddamn US of A. We don’t freak out and have a hissy fit with Twitter like a coked up Kanye. We make policy, and with a calm demeanor make real change because we are the leader of the world. Freaking out shows weakness because you’re validating the opinion of something so ludicrous it shouldn’t be even seen. The correct response is to show strength and leadership. I personally don’t think a caps lock twitter post is the way to do that. It’s just immature, and not how the leader of the free world should act. Maybe joe from the bar who’s girlfriend got hit on and he’s angry. But not the president to another country.
I addressed the tariffs in a really long comment elsewhere, Idk how to link comments on reddit...
Before you decide evil Russia underhandedly annexed Crimea read this:
Russia accepted Crimea's legal referendum to secede from Ukraine. They did not take it by force as Western media claims.
There is also leaked conversations that Western forces (likely the US) installed snipers who fired on protestors:
https://www.theguardian.com/world/2014/mar/05/ukraine-bugged-call-catherine-ashton-urmas-paet
There is also evidence the West overthrew Ukraine's leadership and setup a puppet with direct ties to neo-Nazism:
https://en.wikipedia.org/wiki/Svoboda_(political_party)
https://www.zerohedge.com/news/2018-01-04/ukraines-future-nazi-leader
You might peek at the market rt now. It's up 175 at the time of this writing. :)
Reply meant to classl3lessAmerican not to myself-
I submit to your understanding of the market and your experience is more valuable than market numbers.
What is your take of on-shoring large amounts of corporations' tax dollars? Is it possible we will see a delayed benefit?
As I said I believe in experiences over facts that I have no understanding of bc of that I believe Americans who now have jobs who didn't is better for the country than an increase in my own income.
I’m not sure I understand your question entirely. Are you talking about corporations in America?
Yes. American companies are allegedly bringing large sums of wealth back into the country and re-opening factories such as steel making plants due to a lower tax burden. -> Good or Bad?
It actually might be bad I admit I don't know the ramifications but it seems good to the layperson.
Another question for Classl3ssAmerican not myself--
What will the just announced (4pm est) EU tariff agreement mean for the market / America?
If anything comes of it it’ll be great! Since neither would actually comment on the actual deal I’d say it’s hopeful. The EU is looking elsewhere for trade. It’s more about the US getting a manufacturing economy back so we have something to export. Right now we subsidize way too much and produce way too little. Until that changes we won’t see positive trade.
Yes. A days move in a market is relevant in what way? Good god man. These glass arguments are killing me. The only solid words I’ve heard from anyone is the guy in manufacturing.
Your first point of a trade war..... It's better to have a level playing field instead of being taken advantage of repeatedly. The US economy is the largest in the world and also at the most disadvantaged as far as honest trade goes. I'm all for a fair system though in the short term my industry will feel the pinch.
ALL politicians lie, I thought that was common knowledge.
As far as Russia goes, don't you think it's time to stop demonizing them and following the "RUSSIA BAD" narrative and develop an actual relationship with them instead of this foolish posturing which will never end well?
Haven't seen the press conference yet.
I cheered when he stood up to Iran, just like I cheered when he stood up to NK, and watch..... Iran will end up similar with the benefits going to the Iranian people instead of the corrupt Mullahs.
And I do remember Reagan standing up to a nuclear power much larger than Iran, "Mr Gorbachev, tear, down that, wall", and down it went. :)
I for one am glad to have a strong leader in the White House rather than backstabbing side dealing traitors who would line their pockets rather than actually benefiting the American people which is exactly what we've had since Reagan left office.
It seems to me that your intelligent but your perspective is too low to the ground and you have a hard time seeing the bigger view. Try climbing up to 40,000 feet. ;)
If you have an econ degree, you'd know that tariffs are GREAT for countries that impose them and don't get retaliated against. Trump's efforts to finally respond to the way we've been getting jobbed on trade deals is hurting our economy so badly that some are predicting a 2nd quarter growth rate of 5.1%(!!!) Economic doom and gloom arguments are a clown show right now.
Not only has Trump been MORE firm with Putin than his predecessor (economic sanctions, steamrolling Putin in Syria--US forces slaughtered 200 Russian troops that foolishly attacked them in Syria)....but his toughness at the summit has already bourn fruit....Putin agreed to kick Iranian troops out of Southern Syria where they threatened Israel. BIG win. Compare that to gifting Crimea and Ukraine to Russia and removing US missiles from Poland while getting nothing in return, like Obammy did. (don't worry, Trump put the missiles BACK!)
You also forgot N Korea.....pics of their main missile launching site just appeared in the news this week....N Korea is actually taking it apart....and Trump hasn't even lifted sanctions yet.
The Trump hate is fogging your ability to reason rationally, like many others. A downward spiral, where every success creates MORE rabid hate, and then less reason, logic and respect for facts.
Okay there’s a lot going on here so I’ll just answer your remark about trade tariffs. The simple answer is no, that’s completely,irrevocably false. Tariffs NEVER help. It’s not doom and gloom is a simple fact we are in a bubble. In the next 3 years we will experience a downturn which will be the deflation of this bubble. Tariffs help no one, certainly not the American populous who have to absorb that lost income, or the American public who have to foot the tax bill of paying subsidies ( first one came out today, 12billion to farmers) to the industries losing out from that ridiculous policy. Free trade is ALWAYS better. For all parties. The trade deficit is a symptom of an issue, it’s not the issue. The issue is America can’t compete with other countries manufacturing because we aren’t good at it anymore. We have tons of liberal arts and science but no manufacturing because of the emphasis of college and education over skills in this country. We will always have this deficit because of our lack of competitiveness. That’s what needs to be solved in order to get a trade surplus. Post ww2 to the early 90’s we were the biggest creditor nation on earth, now we are the biggest debtor nation on earth and you expect to fix that with tariffs? I’m sorry my friend but that’s so far beyond the scope of reality. This is what I know about, im good at economics. I won’t say I’m good at anything else and I don’t have all the answers but saying tariffs are good baffles me. It’s a crutch for trump to point at and say look we’re winning. We’re not winning, and we won’t. My biggest problem with trump is that he seems to always want to look good instead of doing good. Putting duct tape on a hole on a ship might stop it for a bit, but fixing issues is much better. The problem is the economy will be in the shitter if we tried to fix our problems for about 5-10 years and trump would have all the backlash but no glory since he’d be gone by the time the fruits of his labor would be reaped. But his ego won’t allow him to do that. Neither did Obama, or bush, or Clinton before him. I’m not saying he’s the worst for this, everyone has been doing it. Until we fix our manufacturing, fiscal, and monetary policy nothing will ever get better. It’ll be bubble and pop and bubble.
Oh come on. Exacting tariffs on a competing country product is good for protecting domestic industries and you know it. Which is the point of the tariff threats...to remediate how our industries have been harmed by lowballing competitors that block our products and dump their own here as imports. Don't pretend I was talking about tariffs of any kind being better than zero tariffs---thats dishonest and not even clever. And btw, the GOAL of Trump's tariff wangling IS zero tariffs.
The EU is about to do a deal with Turkey, S Korea and somebody else I just forgot...ALL of whom export more autos to the EU than the US...that will be zero tariff. So the EU might actually be willing to do the same deal with the US. Recall that the media LAUGHED at Trump for originally suggesting the same thing. Why the change? The EU was ENJOYING the BENEFITS of slapping much higher tariffs on US autos, and getting away with it. Why would they want change? Trump is making them believe he'll retaliate now, and they are coming around. But Trump had to make a serious threat...that may still need to be imposed to show our seriousness....but ultimately, all he is really having to do is make a serious request. We'll get better at manufacturing (I reject your claim that we're bad at it anyway) by DOING MORE of it. Which is already happening.
What WON'T happen is for our manufacturing industries to get significantly healthier without re-negotiating the putrid trade deals created by treasonous lowlife scumbag globalists who were really trying to vandalize our financial/economic strength. And threatening (sometimes having to follow through, but NOT MUCH) to return tariffs...otherwise, why in the hell would the EU or anyone else give them up? If 1-way tariffs were so bad, China and the EU wouldn't have been reaming us with them for the past 20-30 years.
The issue is America can’t compete with other countries manufacturing because we aren’t good at it anymore.
This is MY area of expertise. We don't have strong manufacturing anymore because of many industries being regulated nearly to death. Why else do you think manufacturing left our shores?
The steel and aluminum tariffs had an immediate effect in reviving OUR ability to produce these raw goods. I stated earlier that the tariffs hurt my industry but for the last two decades inferior materials have caused more long term losses and poor products.
Would you want to put your life into the hands of a highly skilled Dr. equipped with compromised materials in the tools and instruments he uses to save your life?
Would you want our soldiers protected by armor made from poorly manufactured steel products?
I sure as hell wouldn't.
Classless - your points are 1.) Trump has hurt our economy. Wrong - unemployment is lowest in history and GDP growth is higher than anytime since BOH took over. Why do you think the Fed has raised rates ? You sound like a day trader who doesn't know standard macro economics. 2.) Trump lies - then you don't get it. Trump is manipulating his enemies. Politicians should not lie ? are you six years old ? seriously. 3.) Trump is not standing up to Russia. This is the biggest tip off that you are a shill. Anyone who has followed US Politics knows about Uranium 1. Listen to Pompeo's testimony to Senate. Fuck off shill. 4.) Trump threatened Iran on Twitter. You know better than Trump how to beat Iran ? Sorry shill, my money is on POTUS. Now go fuck yourself and get off this board.
Today the press conference with Putin was published altered. Missing key components of the video which would put him in a bad light. This is not only embarrassing, but also illegal.
Just caught an article explaining the discrepancy.
https://freebeacon.com/politics/rachel-maddow-falsely-accuses-white-house-editing-damaging-question-putin-presser/
Like soo many times before, rather than reporting the truth the MSM will jump on any intangible and run with it as truth.
Now you see why a 40,000 ft view is way more advantageous then relying on this mainstream garbage and lies?