D
Deleted member 365
Guest
MAGA 2024: Muh eggs! They’re like $4 bucks! How will we ever survive this?
MAGA 2025: what is money? Money is just made up. Let’s stay the course and endure this so our orange god king is happy.
Tariff temper tantrum? The Dow is literally almost as fast as 2008. It’s only had a few worse days, 1987 and during the Great Depression. Tantrum???
View: https://bsky.app/profile/atrupar.com/post/3llz7kdpbvp2x
View: https://bsky.app/profile/mattmfm.bsky.social/post/3llz7npzj3c22
Ya gotta love millionaires telling us to endure this **** for no reason.
View: https://bsky.app/profile/mehdirhasan.bsky.social/post/3llxppj7p2c2g
MAGA 2025: what is money? Money is just made up. Let’s stay the course and endure this so our orange god king is happy.
Tariff temper tantrum? The Dow is literally almost as fast as 2008. It’s only had a few worse days, 1987 and during the Great Depression. Tantrum???
View: https://bsky.app/profile/atrupar.com/post/3llz7kdpbvp2x
View: https://bsky.app/profile/mattmfm.bsky.social/post/3llz7npzj3c22
Ya gotta love millionaires telling us to endure this **** for no reason.
View: https://bsky.app/profile/mehdirhasan.bsky.social/post/3llxppj7p2c2g
D
Deleted member 365
Guest
I’m tired of fat *** Americans bitching about how “duh manufacturing jobs” have disappeared. As if:
1. They’d be working those ****** jobs if they could. We all know they wouldn’t. We’d have to import immigrants to do those jobs and hear their bitching about how immigrants are taking over and eating pets.
2. Fat *** Americans haven’t benefited by offshoring/automating/integrating with the world economy. That cheap *** stuff these folks are addicted to at Walmart? They’d be forced to buy a lot less of that stuff if it were made in America.
The better we understand basic economics the better off we’d all be. I know it’s contrary to the popular narrative here, but America is the richest country because of how successful its economic policy has been. Now its social safety net is lacking and wealth inequality needs to be addressed. But those are domestic issues, not macroeconomic issues.
1. They’d be working those ****** jobs if they could. We all know they wouldn’t. We’d have to import immigrants to do those jobs and hear their bitching about how immigrants are taking over and eating pets.
2. Fat *** Americans haven’t benefited by offshoring/automating/integrating with the world economy. That cheap *** stuff these folks are addicted to at Walmart? They’d be forced to buy a lot less of that stuff if it were made in America.
The better we understand basic economics the better off we’d all be. I know it’s contrary to the popular narrative here, but America is the richest country because of how successful its economic policy has been. Now its social safety net is lacking and wealth inequality needs to be addressed. But those are domestic issues, not macroeconomic issues.
fishonjazz
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If losing our country looks like the USA during the Biden administration then please lose it some more.
I had a pretty damn good 4 years.
D
Deleted member 365
Guest
Ugh. This post was exhausting to read. You sound like one of those smarty pants communists. Is there a reality teevee show I can watch to learn about tariffs? Or some tik tok or McDonald’s cheeseburger that can explain this to me? Ugh I’m bored. Time to watch some more teevee. All I know is that I’m a major victim in this economy. I can only afford a 8,000 square foot house, cabin, and drive a new F250. Can’t wait for Trump to save me from all of this poverty that Biden hitlery gave us.
I just feel like Trump had won 3 straight elections so he must know something! We just need to endure a lil more. Prosperity is right around the corner (because obviously what we had before under Biden inflation wasn’t prosperity)
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D
Deleted member 365
Guest
View: https://bsky.app/profile/numb.comfortab.ly/post/3llyshhrrwc2q
What a communist. We must have to endure this a lil more. Trust in god (not the weak feminine one who told us to help poor people or love others, ew). Trust the real god, who is obviously Trump.
View: https://bsky.app/profile/accountablegop.bsky.social/post/3llyirpqagc2i
Last edited by a moderator:
Zombie
Well-Known Member
Man, people used to lose their heads for spouting this kind of nonsense
PJF
Well-Known Member
With a bit of luck this will trash the US economy without having a massive effect on the rest of the world. Countries like Vietnam and Bangladesh are in some trouble but i think the west will survive this. China will likely benefit from it. Interesting times.
fishonjazz
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As long as Russia benefits then everything went according to plan
Sent from my OPD2203 using Tapatalk
Too ****ing true
Red
Well-Known Member
Economist Jeffrey Sachs explains just how woefully stupid the American president is:
(Below is the complete text of Sach’s tweet)
“Tariffs are going to lower living standards.
They're going to wreck the US economy, and they're being put on for unbelievably bizarre and mistaken reasons that are completely fallacious.
Let me explain.
The United States runs a large deficit in its trade in goods and services — what's called the current account of the United States — and that deficit is about a trillion dollars.
Trump says, 'Oh, that's because other countries are ripping off the United States.'
I can't even begin to say how absurd that line is.
[The word is childish.]
Running a current account deficit means — and it means precisely — that the United States is spending more than it's producing. That's what leads to a deficit. You spend more than you produce.
And we spend more than we produce because we have very low saving in this country. We have an enormous budget deficit.
So the government is like the national credit card — it runs on credit.
It transfers money, pays for wars, pays for Israel’s wars, pays for military bases in 80 countries around the world, pays for that more than a trillion-dollar-a-year military establishment, and hundreds of billions more of associated spending on the military-industrial complex.
And it gives tax cuts for the richest Americans.
It allows for tax evasion by the richest Americans — and I mean evasion, because it doesn't do audits, and it guts enforcement of the tax laws.
So we hemorrhage deficits and have rising public debt.
And because of all that, the spending of our country is much larger than our national income.
It’s a trillion dollars more than national income.
It is exactly the imbalance of our imports of goods and services over our exports of goods and services.
All of this is to say that what Trump calls a 'ripoff' is just the absolute irresponsibility of the political class in Washington.
It's a corrupt, plutocratic gangsterism that gives away the taxes and tax cuts to the richest people and goes on war after war — on credit.
And that leads to these large deficits that Trump then blames on other countries.
Now he's going to correct these deficits, he thinks, by raising tariffs.
And of course, it's going to do nothing of the kind.
The deficits are going to continue because they come from the profligacy of Washington.
They don't come from the fact that other countries are ripping us off.
So he'll raise the tariffs. Americans will shift their spending, say, from an imported automobile to domestic automobiles. That's true. They'll pay higher prices for those domestic automobiles. And our auto industry will export less abroad.
So yes — there will be fewer imports and fewer exports, and the balance won’t budge.
And none of it's going to change the fiscal recklessness.
Because what's Trump’s highest aspiration? It is to continue tax cuts for the richest Americans, which is going to cost another $4 trillion over the next 10 years in the budget.
Because these tax cuts are supposed to end, but he says, 'No, no, no — these are taxes for my rich donors, so they're going to continue.'
So he's not going to solve the budget crisis.
He's not going to solve the trade deficit — because that comes from the budget crisis.
But what he's going to do is lower the living standards of our country and the world.
Because trade is beneficial in living standards — it's called gains from trade.
We buy more cheaply. We sell goods that we have a comparative advantage in. And both sides gain from trade.
Of course, we overdo it, because we overspend — but that’s a completely different thing.
No one’s ripping off the United States by these numbers.
I don’t know whether it's just rhetoric or ignorance or confusion, but it's unbelievably bad economic policy.
It will come to no good.
And incidentally, you mentioned rightly that tariffs are, of course, a tax. So who’s supposed to have authority over taxes?
[Congress.]
And Congress has nothing to say in this. This is a one-person show.
What did we become in this country? Even King George wouldn't levy taxes without the British Parliament in the 18th century.
So what happened to this country? Trump just says, 'Oh, it's an emergency,' and now we have one-person rule — and one-person rule on completely fallacious premises that don’t pass the first day of study of what a trade deficit is.
I taught that for more than 20 years at Harvard University — what is a trade deficit, how does it relate to the excess of spending over production, how does it relate to the excess of investment in a country over a low saving rate?
Well, none of this seems to register.
No one asks a question.
There isn’t a day of hearings.
There isn’t any analysis.
It’s a one-person show based on economic fallacies that are going to wreck our economy, wreck the world trading system.
And I can tell you — all over the world, because I am talking with leaders all over the world, and recently in Asia — the words to describe this, you can’t say in polite company."
(Below is the complete text of Sach’s tweet)
“Tariffs are going to lower living standards.
They're going to wreck the US economy, and they're being put on for unbelievably bizarre and mistaken reasons that are completely fallacious.
Let me explain.
The United States runs a large deficit in its trade in goods and services — what's called the current account of the United States — and that deficit is about a trillion dollars.
Trump says, 'Oh, that's because other countries are ripping off the United States.'
I can't even begin to say how absurd that line is.
[The word is childish.]
Running a current account deficit means — and it means precisely — that the United States is spending more than it's producing. That's what leads to a deficit. You spend more than you produce.
And we spend more than we produce because we have very low saving in this country. We have an enormous budget deficit.
So the government is like the national credit card — it runs on credit.
It transfers money, pays for wars, pays for Israel’s wars, pays for military bases in 80 countries around the world, pays for that more than a trillion-dollar-a-year military establishment, and hundreds of billions more of associated spending on the military-industrial complex.
And it gives tax cuts for the richest Americans.
It allows for tax evasion by the richest Americans — and I mean evasion, because it doesn't do audits, and it guts enforcement of the tax laws.
So we hemorrhage deficits and have rising public debt.
And because of all that, the spending of our country is much larger than our national income.
It’s a trillion dollars more than national income.
It is exactly the imbalance of our imports of goods and services over our exports of goods and services.
All of this is to say that what Trump calls a 'ripoff' is just the absolute irresponsibility of the political class in Washington.
It's a corrupt, plutocratic gangsterism that gives away the taxes and tax cuts to the richest people and goes on war after war — on credit.
And that leads to these large deficits that Trump then blames on other countries.
Now he's going to correct these deficits, he thinks, by raising tariffs.
And of course, it's going to do nothing of the kind.
The deficits are going to continue because they come from the profligacy of Washington.
They don't come from the fact that other countries are ripping us off.
So he'll raise the tariffs. Americans will shift their spending, say, from an imported automobile to domestic automobiles. That's true. They'll pay higher prices for those domestic automobiles. And our auto industry will export less abroad.
So yes — there will be fewer imports and fewer exports, and the balance won’t budge.
And none of it's going to change the fiscal recklessness.
Because what's Trump’s highest aspiration? It is to continue tax cuts for the richest Americans, which is going to cost another $4 trillion over the next 10 years in the budget.
Because these tax cuts are supposed to end, but he says, 'No, no, no — these are taxes for my rich donors, so they're going to continue.'
So he's not going to solve the budget crisis.
He's not going to solve the trade deficit — because that comes from the budget crisis.
But what he's going to do is lower the living standards of our country and the world.
Because trade is beneficial in living standards — it's called gains from trade.
We buy more cheaply. We sell goods that we have a comparative advantage in. And both sides gain from trade.
Of course, we overdo it, because we overspend — but that’s a completely different thing.
No one’s ripping off the United States by these numbers.
I don’t know whether it's just rhetoric or ignorance or confusion, but it's unbelievably bad economic policy.
It will come to no good.
And incidentally, you mentioned rightly that tariffs are, of course, a tax. So who’s supposed to have authority over taxes?
[Congress.]
And Congress has nothing to say in this. This is a one-person show.
What did we become in this country? Even King George wouldn't levy taxes without the British Parliament in the 18th century.
So what happened to this country? Trump just says, 'Oh, it's an emergency,' and now we have one-person rule — and one-person rule on completely fallacious premises that don’t pass the first day of study of what a trade deficit is.
I taught that for more than 20 years at Harvard University — what is a trade deficit, how does it relate to the excess of spending over production, how does it relate to the excess of investment in a country over a low saving rate?
Well, none of this seems to register.
No one asks a question.
There isn’t a day of hearings.
There isn’t any analysis.
It’s a one-person show based on economic fallacies that are going to wreck our economy, wreck the world trading system.
And I can tell you — all over the world, because I am talking with leaders all over the world, and recently in Asia — the words to describe this, you can’t say in polite company."
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