Why? What's to be gained? Tariffs have already proven to be a failure with China.
Please share your data on how its a failure, I think we're yrs away from knowing the real affect.
What we do know, a number of the world's largest manufactures are pulling manufacturing out of China. I think this will translate to less Chinese working. The US manufacturing sectors is grow so this translates to more US citizens working. Yep real failure there. China economy is still highly dependent on US consumers and US manufactures are not going to absorb the add cost and US company are really good at finding low cost solutions to a problem.
Here is a stat for you of the $300B that is being threaten to be tariff coming out of China Apple represents $167B of the it, if Apple pulls it all out and they will not, this will have a huge impact on China with one company. China can not afford the US fortune 500 or 1000 to move manufacturing to Vietnam, Malaysia, Indian and various other countries, Once they pull out it is not going to be easy to bring them back. The only way that happens China will have to lower its labor costs which has been raising for the last 15 yrs. they are no longer the lowest cost market to make products.
Evidence? Here's one of the latest...
Wall Street banks bailing on troubled U.S. farm sector
It's why Trump is now begging China to buy our products. He knows that if the U.S. agriculture industry collapses from his misguided policies he will lose in 2020 -- and for him that could mean jail time. Currently, as president, the justice department has declared him to be above the law.
Yes, one sector is hurting. But how is it obviously a failure for the entire country? Our largest export sector is service not goods. The travel and transportation sector was $236B. Food, beverage and feed was $133B. Service industries represent 71% of US jobs and $778B in exports.
We also have the Fed promising to bail Trump out with a rate cut because his trade war is, according the Powell, introducing risks and instabilities to the economy.
And didn't we recently have 600 CEOs sending him a letter telling him to "Back Off Fool! -
So far, Trump's trade war has only succeeded in disrupting the U.S. economy. That sounds like a failure to me.
And during the last two prior administration rates were cut all the way to 0% to undo all their fiscal irresponsibility's and stupid ideas
We were on the brink of financial disaster in 2008 and everything was done to keep from falling over the precipice. Obama deserves the credit for successfully navigating us away from disaster. I don't agree with the current deficits simply because we are booming and should be burning down deficits with a republican president and senate.
My issue with Trump's economy is it looks like a pump and dump play.
....being handed the longest recovery in US history by Obama.
Ummm.... what?
Considering that the "longest recovery" happened only as of July 2019, which is more than 2.5 years into the current administration, your post is utter b-s.
Why? What's to be gained? Tariffs have already proven to be a failure with China.
Please share your data on how its a failure, I think we're yrs away from knowing the real affect.
What we do know, a number of the world's largest manufactures are pulling manufacturing out of China. I think this will translate to less Chinese working. The US manufacturing sectors is grow so this translates to more US citizens working. Yep real failure there. China economy is still highly dependent on US consumers and US manufactures are not going to absorb the add cost and US company are really good at finding low cost solutions to a problem.
Here is a stat for you of the $300B that is being threaten to be tariff coming out of China Apple represents $167B of the it, if Apple pulls it all out and they will not, this will have a huge impact on China with one company. China can not afford the US fortune 500 or 1000 to move manufacturing to Vietnam, Malaysia, Indian and various other countries, Once they pull out it is not going to be easy to bring them back. The only way that happens China will have to lower its labor costs which has been raising for the last 15 yrs. they are no longer the lowest cost market to make products.
Evidence? Here's one of the latest...
Wall Street banks bailing on troubled U.S. farm sector
It's why Trump is now begging China to buy our products. He knows that if the U.S. agriculture industry collapses from his misguided policies he will lose in 2020 -- and for him that could mean jail time. Currently, as president, the justice department has declared him to be above the law.
Yes, one sector is hurting. But how is it obviously a failure for the entire country? Our largest export sector is service not goods. The travel and transportation sector was $236B. Food, beverage and feed was $133B. Service industries represent 71% of US jobs and $778B in exports.
We also have the Fed promising to bail Trump out with a rate cut because his trade war is, according the Powell, introducing risks and instabilities to the economy.
And didn't we recently have 600 CEOs sending him a letter telling him to "Back Off Fool! -
So far, Trump's trade war has only succeeded in disrupting the U.S. economy. That sounds like a failure to me.
And during the last two prior administration rates were cut all the way to 0% to undo all their fiscal irresponsibility's and stupid ideas so it is not a current administration issue stop listening to the media and do some independent thinking. Do not get me wrong I did not mind the government cutting rates it allowed me to have mortgage of 2.9% and saved me so much interest payments. as well as seeing double digit earning in the market. Other people's stupidity is savings and profits for me.
Yeah we have bunch of CEO's belly aching because this is cutting into their profits since COGS are going up and they can no easily pass it along. The 10% increase was easily to offset, 25% is not. Once they move out of China that will not be a problem for them. Face it is a double edge sword for companies doing business in China, if you want to sell product in China it has to be manufactured in China. As I said before Apple will not pull all their manufacturing out of China, if they did they would not be allow to sell in China. I believe the US should make Chinese company manufacture in the US if they want to sell their products in the US its only fair and they should also be require to being their own cheap labor and pay all their cheap labor expenses to live in the US.
You need to find some better sources of information. The post-2008 rate cuts were to stave off a full blown Depression caused by the regulator irresponsibility of the previous Republican administration.
And you don't need to make things in China to sell them there. It's mostly that we simply can't make them good enough or cheap enough to be competitive over there.
Actually I lived through the entire 1999 down turn through the 2008 down turn, and interest rated drop form 7% to 0% during this time so it started in the Clinton yrs until Obama left when rates started going back up. I personal bought and sold homes during this time and refinance my loans a number of time to take advantage of paying less interest. But I never bough more than I wanted to afford and never used my equity to live off. I saw first hand the games being play and worked with very good ethical brokers who were not playing the games. To show you all the stupidity going on my last refi was converting what was left on 30Yr which I was already making extra payments, to a 10yr with a lower interest rate but higher monthly payments. The bank (one i have been doing business with for 20yrs) told me there could be a problem since my new payment was going to be higher than my existing payment. I had to sign all kind of paperwork saying I was okay paying more each month and the bank was not forcing me into a loan I might not be able to afford, all government mandated requirements.
Besides the fact banks and investment companies were playing games with packaging bad mortgages with good. This all started in the 90's with the increased oversight of banks forcing them to provide mortgages and increase home ownership for people who could not afford a house in the first place. Bank signed people up for loans since the government said they would back those mortgages for first time home buyers (which end up being the biggest defaulters), the government raised the loan cap on FHA from $150K to $500K. The crash in 2008 started 5 to 7 yrs prior when people took out ARM loans with balloon payments due in 5 to 7 yrs which all started coming due in 2007 and 2008. The govern had no choice but to lower rates in the hope save people from their bad decisions which was driven by bad policies also driven by the government. Yes people have some responsibility for taking loans they could not afford, the Banks and investment companies played games and should have paid dearly for it, but this all started because the government had the great idea of driving up home ownership and guaranty to back the loans. So the banks said write the loans the government will cover them.
In the end people and companies took advantage of the governments stupidity and it cost everyone.
You need to go back further in times long before 2008, actually go back to Housing and Community Development Act of 1974 where housing and loan laws were changed. This was the bases of the actions the government was taking in the 90's which then all came to a head in 2008. 2008 was not an instantaneous event, it take years for government's stupid ideas to fall apart. I am not saying everyone should not have equal access to housing and loans, but if someone is not willing to take responsibility of their behaviors they should not be allow to cost the rest of us.
On your China point, Please try to sell product in China which are not manufacturer there\. I worked for a number of global companies which had operations in China and the only way we could sell in China was to have JV set up with a 51% Chinese ownership which was the entity making and selling the product in China. Apple is able to sell in China since the entire product is made in China made by 100% Chinese own factory. If iPhone was made anywhere else in the world, China would hit it with a huge tariff as China does to Tesla.
LOL... I stopped reading after you blamed Bush's Great Recession on Clinton!
Sorry, but the only thing that happened in 1999 under Clinton was the Dot.Com bubble burst. Other than that we had a peaceful, prosperous country and a BALANCED BUDGET headed toward surplus which was handed to Bush. But, he turned that into never-ending wars, a near depression and a Trillion dollar deficit -- and worldwide distrust of the U.S. But, Obama cut his deficit by more than half and oversaw the longest recovery since the Great Depression -- as well as restored the world's faith and confidence in U.S. But Trump quickly turned that into trade wars, lies to our allies, bullying, xenophobia and a trillion dollar deficit.
You have a right to your own opinion but not your own reality.
....being handed the longest recovery in US history by Obama.
Ummm.... what?
Considering that the "longest recovery" happened only as of July 2019, which is more than 2.5 years into the current administration, your post is utter b-s.
LOL... So you think the Recovery started under Trump? That's somewhere between really funny and really sad. No, all Trump did was to goose it by borrowing a Trillion dollars and handing it out to his rich friends. Unfortunately, it is us who will have to pay it back.
Meanwhile the Fed says they have to go back to cutting rates to cover for his financial follies.
....being handed the longest recovery in US history by Obama.
Ummm.... what?
Considering that the "longest recovery" happened only as of July 2019, which is more than 2.5 years into the current administration, your post is utter b-s.
Started in 2009. He didn't kill the longest recovery which is a good thing but it started with Obama. Thus "handed to him" is a correct statement.
....being handed the longest recovery in US history by Obama.
Ummm.... what?
Considering that the "longest recovery" happened only as of July 2019, which is more than 2.5 years into the current administration, your post is utter b-s.
It's only the longest recovery in history if you take into account that it started on June 2009 and built-up for over 7.5 years under Obama. Trump only contributed 2.5 years to that recovery and it likely would have continued with or without Trump since it was still on an upward slope when Obama left office. It was already tied for the 3rd longest recovery even if you don't include Trump's 2.5 years. So yes, it wasn't possible without Obama.
Comments
My issue with Trump's economy is it looks like a pump and dump play.
Considering that the "longest recovery" happened only as of July 2019, which is more than 2.5 years into the current administration, your post is utter b-s.
Keep cheap politics out of this.
Again, get your facts straight before posting, or delete your posts. Or apologize.
Sorry, but the only thing that happened in 1999 under Clinton was the Dot.Com bubble burst. Other than that we had a peaceful, prosperous country and a BALANCED BUDGET headed toward surplus which was handed to Bush. But, he turned that into never-ending wars, a near depression and a Trillion dollar deficit -- and worldwide distrust of the U.S. But, Obama cut his deficit by more than half and oversaw the longest recovery since the Great Depression -- as well as restored the world's faith and confidence in U.S. But Trump quickly turned that into trade wars, lies to our allies, bullying, xenophobia and a trillion dollar deficit.
You have a right to your own opinion but not your own reality.
Meanwhile the Fed says they have to go back to cutting rates to cover for his financial follies.