Didn’t quite know where to put this but this thread works. Trump’s imposition of punitive tariffs is the first shot of a trade war that may destroy the economy that he has been so proud of. It smacks of the Smoot-Hartly act that turned the Oct 1929 crash into the Great Depression. Talk about shooting oneself in the foot. This from the Wall Street Journal https://www.wsj.com/articles/trumps-steel-destruction-1527809177
Yeah this is it we are headed for the next Great Depression of course while we will all be burning up from Trump caused global warming. Running out of ammo are we Winston? What's next after he makes a fool of you yet again. Will you find out he once had a parking ticket he was late in paying?
No Moe I didn’t predict a depression but used the SH law to point out the impact of bad trade policy can be. In your article about California banning travel to OK, there’s another article saying the US defense industry is against the move. Trump’s meddling in the markets indicates he’s ignorant of economics.
Yeah a billionaire businessman is ignorant of economics. Yeah 3.8% unemployment, 233,000 new jobs and 4.7% GDP yeah Trump is ignorant of economics. Yeah a community organizer (Barrack Hussien Obama) knows more about economics and yeah a woman who has never had a real job or accomplished one positive thing knows more about economics. As far as the US defense industry against the move by California so what? The US defense industry does not and can not dictate to the state of California what they can and cannot do.
@Winston1 Trump has a pattern of doing things like this that get the other party to the table. He said he wanted to renegotiate the trade agreements. I guess its like shock therapy. I would say this story isn't over yet. Things may get settled before all the doomsday stuff happens
Behind? Do you know we export more steel to Canada than we import? What’s going to happen again o our steel companies when Canada imposes tariffs on our steel? His unilateral action based on so called national security may be intended to be a first step in a negotiation but at best he’s taking tremendous risk and risking the economy and our security.
As a follow up, Trump used national security as his reason to raise the tariffs. Do you know why? It’s because the power to set tariffs is settled in Congress according to the constitution. Lest you think I’m attacking Trump, in this case you’re wrong. Congress has abdicated its power to the executive. Its failure to act or assert its power has left a vacuum that the executive is filling. As I noted earlier this is part of a trend that has been gaining momentum since the Great Depression. This trend is damaging our polity and will one day lead to some form of dictatorship. Again I’m NOT accusing Trump of ulterior motives....hell he can’t think past his McDonald’s happy meal. However Obama did stretch the limits with intent to grab more power. His comment that perhaps he was 20 years too early can be taken in a much darker vein. In 20 years it may be that a president will be able to usurp power totally. Maybe that’s where Barry was going.
