Page 1 of 1

Trade War

Posted: Thu May 30, 2019 9:32 am
by Nodack
I just saw where China is escalating the trade war and it is looking like it could get nasty.

https://www-m.cnn.com/2019/05/30/asia/c ... cnn.com%2F
China accuses US of 'economic terrorism' as trade war tensions escalate

The Ministry of Foreign Affairs said the White House had "brought huge damage to the economy of other countries and the US itself," spokesperson Lu Kang told reporters in Beijing on Thursday.

Lu described US trade policy as "typical economic terrorism, economic hegemonism, and economic unilateralism."
The statement followed similarly ominous rhetoric from Chinese state media, which issued a stern message to Washington on Wednesday: "Don't say we didn't warn you."

Re: Trade War

Posted: Thu May 30, 2019 10:43 am
by Superbone
Nodack wrote:
Thu May 30, 2019 9:32 am
I just saw where China is escalating the trade war and it is looking like it could get nasty.

https://www-m.cnn.com/2019/05/30/asia/c ... cnn.com%2F
China accuses US of 'economic terrorism' as trade war tensions escalate

The Ministry of Foreign Affairs said the White House had "brought huge damage to the economy of other countries and the US itself," spokesperson Lu Kang told reporters in Beijing on Thursday.

Lu described US trade policy as "typical economic terrorism, economic hegemonism, and economic unilateralism."
The statement followed similarly ominous rhetoric from Chinese state media, which issued a stern message to Washington on Wednesday: "Don't say we didn't warn you."
The Art of the Deal.

Re: Trade War

Posted: Thu May 30, 2019 1:35 pm
by Flagrant Fowl
Living so close to China, I am frequently exposed to their rhetoric but this is right on the mark and an obvious play by them.

Re: Trade War

Posted: Tue Aug 13, 2019 1:01 am
by Nodack
https://www.cnsnews.com/news/article/te ... asury-runs
$3,727,014,000,000: Federal Spending Sets Record Through July; Treasury Runs $866,812,000,000 Deficit

https://www.bloomberg.com/news/articles ... tal-figure
U.S. Budget Deficit Already Exceeds Last Year’s Total Figure


https://www.cnbc.com/2019/08/12/the-us- ... llion.html
The US budget deficit is up 27% and getting closer to $1 trillion

Re: Trade War

Posted: Tue Aug 13, 2019 10:31 am
by Marty [Mori Chu]
Wait, I thought the $1.7 billion tax cut was going to pay for itself by StImUlAtInG the EcOnOmY. I'm confused!

Re: Trade War

Posted: Tue Aug 13, 2019 11:03 am
by Nodack
It takes awhile for the tax cuts to go through the wealthy digestive system before it starts to trickle down...

Re: Trade War

Posted: Tue Aug 13, 2019 6:50 pm
by Flagrant Fowl
Not "Trade War" related, but just another one of those great Trump administrative policies.

https://www.fastcompany.com/90389091/tr ... ald-eagles
President Trump came to power on a wave of red hats emblazoned with the phrase Make America Great Again (and with a little help from Russia), but making America great again apparently doesn’t include the symbol of America itself.

The Trump administration today announced sweeping changes to the Endangered Species Act, rolling back protections for animals in favor of corporations that want to build luxury condos, mine, drill for oil, harvest timber, or otherwise develop the land that animals live on.

Under the revisions to the act, regulators will now be allowed to weigh “economic factors” when considering whether animals and their habitats deserve protection, the New York Times reports. Such considerations had been prohibited since the law was passed, in 1973; instead, determinations had to be made based solely on science. The changes essentially make it easier for corporations to argue that their economic interests are more important than animal habitats. The bill’s language has also been edited to allow regulators to disregard the impact of climate change.

The move should not come as a surprise, since Interior Secretary David Bernhardt wrote in a Washington Post op-ed that the Endangered Species Act (which is credited with saving bald eagles, grizzly bears, wolves, California condors, and peregrine falcons) is nothing more than an “unnecessary regulatory burden” on companies. The act currently protects more than 1,600 species in the United States and its territories.

Naturally, environmental groups have already denounced the changes as “disastrous.” The news is particularly horrifying in the wake of the United Nations’ warning that one million species could be driven to extinction due to human pressures and climate change, the fact that half the world’s animal population has died off since 1970, and the fact that land use is threatening another 1,700 species with extinction.
I would like to think that voters on either side of the spectrum would be for protecting the natural beauty of our country. Yet something tells me the MAGA cultists will find a way to justify or overlook this because they're complicit as traitors and morons.

Re: Trade War

Posted: Tue Aug 13, 2019 8:44 pm
by Nodack
They will either say it’s fake news or they will say that those silly unnecessary regulations were hurting businesses.

Re: Trade War

Posted: Wed Aug 14, 2019 12:13 am
by Marty [Mori Chu]
It's fitting that he's crippling the law that saved the symbol of America, the bald eagle. He just doesn't care.

Re: Trade War

Posted: Wed Aug 14, 2019 9:04 am
by Superbone
How much damage can one president do in one term? A lot, apparently. It will take many years to undo this idiot-in-chief's damage to our country.

Re: Trade War

Posted: Wed Aug 14, 2019 9:56 am
by Nodack
Stocks sank sharply Wednesday morning after the U.S. bond market signaled an impending recession.
https://thehill.com/policy/finance/4573 ... -recession
The sell-off came shortly after the yield on 10-year U.S. Treasury bonds fell below the yield on two-year bonds for the first time since 2007. When 10-year bonds trade cheaper than 2-year bonds, a recession tends to follow within 12 to 18 months.

Economists at Bank of America, Goldman Sachs and Moody’s Analytics warned ahead of Tuesday’s announcement that the odds of a recession between now and the 2020 election were rising, due in part to Trump’s trade policy.

Re: Trade War

Posted: Wed Aug 14, 2019 10:33 am
by ShelC
He bankrupts everything he touches. Bleeds it dry, then walks away leaving someone else with the bill. It's what he's done for 30+ years.

The first two years he took credit for Obama's economy, now this one is his after the tax cut and trade war. He'll probably start attacking Powell again and look to fire him to get someone at the Fed to do his bidding heading into next fall.

Re: Trade War

Posted: Wed Aug 14, 2019 5:42 pm
by Nodack
My wife was saying to pull out of the market now. I told her Superbone says letting it ride is the best best long term.

Re: Trade War

Posted: Wed Aug 14, 2019 9:53 pm
by Superbone
Nodack wrote:
Wed Aug 14, 2019 5:42 pm
My wife was saying to pull out of the market now. I told her Superbone says letting it ride is the best best long term.
Yep. My money is where my mouth is too. Haven’t and won’t touch a thing other than to keep my current stock/bond ratio. A market correction would actually be a good thing. Future stock purchases would be at a discount. Bring it!

Pulling out now is trying to time the market. How do you know when to get back in? Do you think the market will be higher than it is right now in 10 years? I do. Play the long game.

Re: Trade War

Posted: Thu Aug 15, 2019 10:05 am
by Marty [Mori Chu]
Market is way down the past few days. My wife is bummed because her work company (Dropbox)'s stock tanked due to a mediocre earnings report along with the general economy. It sounds like the tariffs and general antagonizing of all of our allied nations are not helping. #maga?

Re: Trade War

Posted: Thu Aug 15, 2019 1:23 pm
by Indy
Agreed that this admin's awful foreign trade policy is not helping, and continually bailing out groups like farmers due to the failing policies makes it even worse--but I am not sure DBX missing on market forecasts can be attributed to it.

Re: Trade War

Posted: Thu Aug 15, 2019 9:54 pm
by Nodack
It’s because I am too cheap to upgrade my account with them. 🤪

Re: Trade War

Posted: Fri Aug 16, 2019 5:40 am
by Indy
Nodack wrote:
Thu Aug 15, 2019 9:54 pm
It’s because I am too cheap to upgrade my account with them. 🤪
me too. :) I do pay Apple for cloud storage, but use the free version of DropBox and OneDrive.

Re: Trade War

Posted: Fri Aug 16, 2019 8:00 am
by Marty [Mori Chu]
Indy wrote:
Thu Aug 15, 2019 1:23 pm
Agreed that this admin's awful foreign trade policy is not helping, and continually bailing out groups like farmers due to the failing policies makes it even worse--but I am not sure DBX missing on market forecasts can be attributed to it.
Sorry; I didn't mean to say that DBX drop is due to Trump or the general market dip. I just mentioned both of those things together because they were both on my mind and both were about the stock market. DBX dropped because of a mediocre quarterly earnings report, not anything else.

Re: Trade War

Posted: Fri Aug 16, 2019 9:23 am
by Superbone
Indy wrote:
Fri Aug 16, 2019 5:40 am
Nodack wrote:
Thu Aug 15, 2019 9:54 pm
It’s because I am too cheap to upgrade my account with them. 🤪
me too. :) I do pay Apple for cloud storage, but use the free version of DropBox and OneDrive.
I just relented this month to the $0.99 per month Apple extortion fee. ;)