Is Trump Economically Illiterate ?

[Khandro]

Andrew Neil thinks so and has some interesting points to substantiate it;

[barry1010]

Yes. And belligerent, obstinate and shortsighted. Egomaniac.

[Khandro]

It's an interesting point, that whatever America has been doing, it has been doing it successfully & perhaps doesn't really need, 'making great again'.

[ToraToraTora]

The problem is that Trump is trying to make USA go cold turkey on an addiction that's many decades old. That's going to hurt.

I get it, he wants to restore the US manufacturing industry but it's not as simple as hitting imports with tariffs, which ultimately the consumer pays, prices. Many US firms shifted production abroad to save costs, bring that back, prices rise.

The knowledge and instrument to make many things does not exist, even if the will is there it's not a 5 minute job. In the end the price of everything will rise because US manufacturers need components they can't make.

Inflation will rocket, then interest rates, unarrested the coming depression will make the 30s look like a picnic.

I just can't believe no one on his side is telling him this.

[barry1010]

Why can't components be made in the US?  If they can be made, they can be made anywhere if the materials are available.  

[bhg481]

Not much point telling Trump anything; he knows (thinks) he knows best.

[drmorgans]

 

They can be. But the factories were closed and production moved to China (or Taiwan). And the components are cheaper. Will American workers accept wages that make production economic? And China has control of much of the lanthanides (Rare Earth) materials used in batteries and magnets.

 

 

[ToraToraTora]

barry: "Why can't components be made in the US?  If they can be made, they can be made anywhere if the materials are available.  " - They can be in many cases but the reason US firms moved it abroad was cheaper labour costs. Bring them back that rises so the comsumer pays more anyway. There are also many cases where they just don't have the knowledge and infrastructure to make components. There were several firms saying they cannot find alternative suppliers for vital components in the short term.

[youngmafbog]

If Andrew Neill is so wonderful whyt doesnt he work in that field?

I get what Trump is doing.  Will it work, well I and everyone else, just dont know as it hasnt been tried before.  But at lest he is trying and its far more likley to work then 2TK's weak attempts.

He is running the US like a company, no wonder Lefty libs and MArxists dont like it, most simply do not understand it.

And of course, he is doing what he promised in the election, now I know that is really difficult for amny to get in the West but usnt it great someone says something and does it?

[youngmafbog]

//There were several firms saying they cannot find alternative suppliers for vital components in the short term.//

But surely that emphasises Trumps point.  The US (and the West) should not be dependant on others it leaves a great weakness for takeover.

Its true the USA worker wont work for a buck an hour but firstly should we be abusing the Worlds poor for our own gratification and secondly it could be done with automation and so called AI (that will get better).

One thing is for sure Globalism is taking a hard knock, the WEF must be in panic mode by now.

[Khandro]

//If Andrew Neill is so wonderful whyt doesnt he work in that field?//

After a demanding life in Journalism & editorship, he's now retired & will be 76 next month.

 

[Ellipsis]

It's not just what he's doing, which is questionable at best, it's how he's doing it: alienating the whole world, friend and foe, except Russia, North Korea and Cuba!

[Hymie]

The Republican Party set out their plan to enrich their billionaire friends/backers in the published agenda ‘Project 2025’.  Now Trump is enacting those plans (having a disastrous impact on everyday American’s and the rest of the world), people are complaining – but even I warned of the damning consequences of such an agenda.

 

Trump is far from finished enacting Project 2025 – expect a lot more pain for the non-billionaire Americans (and the rest of the world).

[Ellipsis]

I think even before the US election there were differences of opinion within Project 2025 about free trade and tariffs. And now in the present, many Republican billionaires are not happy. Two prominent ones are Elon Musk and Bill Ackman.

[youngmafbog]

It's interesting isnt it.

The EU is one of the most protectionist blocs on the planet with big tarrifs and yet the same people that love the EUn denegrate Trump for trying to level the playing field.

Truly bizzare.

[Hymie]

Yet another Brexiteer lie that the EU is a protectionist bloc.

 

This wiki article shows the countries around the world that have a free trade agreement with the EU.

 

https://en.wikipedia.org/wiki/Free_trade_agreements_of_the_European_Union

[ToraToraTora]

hymie: "The Republican Party set out their plan to enrich their billionaire friends/backers in the published agenda ‘Project 2025’.  Now Trump is enacting those plans" - but stocks are plummeting, generally billionaires have a lot of stock.

[youngmafbog]

Hymie, it is not a lie, you have totally and utterly missed the point.

Unless you agree to a free trade deal with the EU - on their (usually poor) terms then tarrifs are high.

Get it yet?

[Hymie]

It just goes to show how stupid many of these billionaires are – believing tariffs will enrich them (when many have manufacturing operations [where they can access cheap labour] in foreign lands).

[youngmafbog]

Well TTT, I suspect many shorted their stock and shortly will be buying.

The money boys are playing, just look at that X post the other day (probably illegal I suspect).  I bet some made millions.

And for thse that didnt play the market they can afford to just sit on them, again as that post showed the market soon 'bounced' and will do properly once it all dies down and there is something else to make monay on.

[youngmafbog]

YEs, they are so stupid are they not Hymie.  Sitting in gheri castles purveying their Ferrais and private jets counting their lolly whilst you bitterly sit on AB quoting You tube nutters and Wiki.

I wonder who is the stupid one ? 🤔