There are things that the US can only get from China. China has markets other than the US that will buy its products and materials. Trump is operating under the delusion that China needs the US more than the US needs China. He is wrong about that.
PANIC, hahahaha. So did it started already?? Or Dems in AI just reacting as if the end of the world already? Oh I forgot lots of economists and experts are here.
Is that the latest trend being generated by the bot accounts on social media? Repurposing lines from Hitchhikers Guide To The Galaxy to keep those locked in the social media Matrix entertained while they lose their pensions in the real world.
Y'all don't understand the point of tariffs. Nothing but blind anger. Other countries have tariffs on us, but we don't have any on them. We're just levelling the table. We definitely need these tariffs because they will help us more in the long term. You guys are all about the future right? We want that debt to go down, so this is the way to do it. Also, this will make us more independent, which will lead to more jobs in the US.
"But the IEEPA -- which specifically cites the power to impose sanctions and seize foreign assets -- does not mention tariffs. And, even if one argues the right to impose tariffs is implied, it's not clear what "national emergency" could justify the imposition of global tariffs.
"There is a strong argument that the tariffs imposed under the IEEPA are not legal or constitutional," a prominent conservative lawyer close to President Trump told ABC News. "Under that particular statute, tariffs are not listed amongst the various actions a president can take in response to the declaration of a nation emergency."
The lawyer adds: "And when you combine that with the fact that Article 1, Section 8 [of the Constitution] clearly gives Congress the power to impose duties -- tariffs -- I think those two things in combination raise a very, very serious legal question."
No president has ever previously issued tariffs under the IEEPA.
To think this utter madman also has his finger on the nuclear button. He’s out of control but none of his team can do anything about it. Bit like Putin.
Last night I was listening to a history podcast. the subject was Emperor Caligula. The important point was that everyone in the palace and in the Senate knew he was insane. They knew he was making stupid choices that were damaging the empire. But everyone was too busy either arguing on the floor of the Senate, and/or jockeying for their own position/power/wealth so nobody stepped in. I see similarities to today.
Important point to keep in mind: Trump will never admit that he was wrong. No matter how much damage he does, no matter how bad things get, Trump will never even consider that he was mistaken.
the much bigger issue is republicans will never admit he is wrong either they will defend him to the death they are too invested in him now, and if they ever admit he is bad its a negative reflection on them for not seeing it sooner
this is the opposite of quit when you are ahead strategy this is the i will dig myself deeper so i don't look bad strategy
Oh no. You are wrong.
Which one of these "basket of deplorables" will fall on their own sword?
Ted Cruz?
Marco Rubio?
Ron DeSantis?
JD Vance?
MTG?
I bet they'll all run like cockroaches exposed to light and then claim they were against this all along.
The ones who were willing to sacrifice anything have already done so.
Y'all don't understand the point of tariffs. Nothing but blind anger. Other countries have tariffs on us, but we don't have any on them. We're just levelling the table. We definitely need these tariffs because they will help us more in the long term. You guys are all about the future right? We want that debt to go down, so this is the way to do it. Also, this will make us more independent, which will lead to more jobs in the US.
The most accurate part of this your 1st post at Apple Insider, is your online nickname, especially the part after the underscore.
Cool_Bananas said: We want that debt to go down, so this is the way to do it.
No, the way to make the debt "go down" would have been to continue the tax surplus that existed in Bill Clinton's final term in office. There was a bipartisan agreement to use the surplus to pay down the debt and it was definitely declining before George W. Bush took office.
But then George W. Bush started up deficit spending again. He did a huge tax cut that was not offset and created large amounts of debt. He invaded and occupied Afghanistan and Iraq. And the lack of financial regulations ushered in the Great Recession and a gigantic drop in tax revenue due to the equally gigantic decline in economic activity. Barack Obama managed to get the economy back on track in the next eight years but the huge costs of the Iraq/Afghanistan wars and the Bush tax cuts remained while Republicans in Congress demanded austerity. But then Donald Trump was elected and the GOP immediately abandoned austerity and did a $2 trillion tax cut. That added another colossal amount of debt to the balance sheet and was followed by Trump's bungling of the Covid pandemic.
You can just smell the 'Great Again' in the air. Smells like the 'Gulf of America.' Which being next to Florida probably smells like meth and cigarette butts.
And people used to complain about Biden being senile...
These are the presidential choices we're getting nowadays, senile vs lunatic. Take your pick!
Sorry...the supposedly "senile" Biden dropped out and voters could have chosen Kamala Harris. Instead, they picked the guy that gave them senility and insanity in the same package.
You know that he and his investment buddies he keeps informed have been making a KILLING the past few days… and he milks it some more.
Every time you read how many trillions have been „destroyed", remember, the old investment banking adage is „Your money isn’t *gone*; it just belongs to somebody else now.“
What the Trump administration doesn’t seem to grok, along with the MAGA millions, is that bullying allies into concessions by applying tariffs at excessive rates that are detached from the tariff rates those nations apply to our exports, might work to get concessions, which Trump and MAGA will claim as some sort of major victory for America. But in reality those nations he’s bullying with the much bigger economic stick that the United States wields, because he can, has put those nations on notice and has strongly motivated them to work to cut trade deals elsewhere in order to distance themselves from the United States. This will eventually reduce our standing in the world and shift power in four key aspects to those we compete with on the global stage; in economic standing, in military standing, in technological standing and in global political influence. He’s shooting us in the foot and his followers are too one-dimensional in their thinking to see it.
To think this utter madman also has his finger on the nuclear button. He’s out of control but none of his team can do anything about it. Bit like Putin.
Comments
China has markets other than the US that will buy its products and materials.
Trump is operating under the delusion that China needs the US more than the US needs China.
He is wrong about that.
https://abc13.com/post/businesses-conservative-lawyers-planning-legal-challenge-trumps-tariffs/16139325/
"But the IEEPA -- which specifically cites the power to impose sanctions and seize foreign assets -- does not mention tariffs. And, even if one argues the right to impose tariffs is implied, it's not clear what "national emergency" could justify the imposition of global tariffs.
"There is a strong argument that the tariffs imposed under the IEEPA are not legal or constitutional," a prominent conservative lawyer close to President Trump told ABC News. "Under that particular statute, tariffs are not listed amongst the various actions a president can take in response to the declaration of a nation emergency."
The lawyer adds: "And when you combine that with the fact that Article 1, Section 8 [of the Constitution] clearly gives Congress the power to impose duties -- tariffs -- I think those two things in combination raise a very, very serious legal question."
No president has ever previously issued tariffs under the IEEPA.
Wasn't Caligula killed by his guards?
Please, not the MAGA red hats!
Oh no. You are wrong.
But then George W. Bush started up deficit spending again. He did a huge tax cut that was not offset and created large amounts of debt. He invaded and occupied Afghanistan and Iraq. And the lack of financial regulations ushered in the Great Recession and a gigantic drop in tax revenue due to the equally gigantic decline in economic activity. Barack Obama managed to get the economy back on track in the next eight years but the huge costs of the Iraq/Afghanistan wars and the Bush tax cuts remained while Republicans in Congress demanded austerity. But then Donald Trump was elected and the GOP immediately abandoned austerity and did a $2 trillion tax cut. That added another colossal amount of debt to the balance sheet and was followed by Trump's bungling of the Covid pandemic.
What the Trump administration doesn’t seem to grok, along with the MAGA millions, is that bullying allies into concessions by applying tariffs at excessive rates that are detached from the tariff rates those nations apply to our exports, might work to get concessions, which Trump and MAGA will claim as some sort of major victory for America. But in reality those nations he’s bullying with the much bigger economic stick that the United States wields, because he can, has put those nations on notice and has strongly motivated them to work to cut trade deals elsewhere in order to distance themselves from the United States. This will eventually reduce our standing in the world and shift power in four key aspects to those we compete with on the global stage; in economic standing, in military standing, in technological standing and in global political influence. He’s shooting us in the foot and his followers are too one-dimensional in their thinking to see it.