zeke
Well-known member
"...and the back end will be super awesome because it will be something something and we'll get there because somehow somehow"
OT: American Politics
- Thread starter MindzEye
- Start date
"...and the back end will be super awesome because it will be something something and we'll get there because somehow somehow"
zeke
Well-known member
WellPlayed
Well-known member
I believe he said he's travelling for the next six weeks or something, so some of his stuff recently has been a bit shorter. Still a good read though. And his deep dives are excellent.
zeke
Well-known member
CH1
The Artist Formerly Known as chiggins.
My goto economist Tyler Cowen on tarriffs (he rarely weighs in on policy)
This is perhaps the worst economic own goal I have seen in my lifetime. I cannot think of any credentialed economist colleague—Democrat, Republican, or independent—who would endorse it. And I haven’t even mentioned the risk that some foreign nations will retaliate against American exporters, damaging our economy all the more.
Trump’s reciprocal tariffs:
1) Impose hundreds of billions of dollars in new taxes on Americans without public/congressional input
2) Are based on secret calculations that have little, if any, connection to actual foreign trade barriers
3) Ignore all U.S. tariff/nontariff barriers, which in some cases are quite high
4) Are justified by a “national emergency” that reflects a total misunderstanding of how trade deficits work
5) Disregard U.S. trade agreement commitments, including ones made by Trump himself
6) Will make us all poorer, and likely do real and lasting harm to the U.S. economy (including in manufacturing)
7) Embolden our adversaries around the world.
www.thefp.com
This is perhaps the worst economic own goal I have seen in my lifetime. I cannot think of any credentialed economist colleague—Democrat, Republican, or independent—who would endorse it. And I haven’t even mentioned the risk that some foreign nations will retaliate against American exporters, damaging our economy all the more.
Trump’s reciprocal tariffs:
1) Impose hundreds of billions of dollars in new taxes on Americans without public/congressional input
2) Are based on secret calculations that have little, if any, connection to actual foreign trade barriers
3) Ignore all U.S. tariff/nontariff barriers, which in some cases are quite high
4) Are justified by a “national emergency” that reflects a total misunderstanding of how trade deficits work
5) Disregard U.S. trade agreement commitments, including ones made by Trump himself
6) Will make us all poorer, and likely do real and lasting harm to the U.S. economy (including in manufacturing)
7) Embolden our adversaries around the world.
Tyler Cowen: ‘Liberation Day’ Was Even Worse Than Expected
This is perhaps the worst economic own goal I have seen in my lifetime.
www.thefp.com
zeke
Well-known member
axlsalinger
Well-known member
In 10-15 years when all those factories have been built and trees have grown, watch the economy soar!!
axlsalinger
Well-known member
yeah just read the article, and it was disappointingly short. I know he's good though, have read some of his stuff in the past.
hockeylover
Well-known member
I still can’t believe people got conned so hard by this fucking moron.
LeafGm
Well-known member
I admire anyone who actually understands this stuff. Every explanation I’ve read about why the Trump admin’s tariff calculations are dumb is completely indecipherable gobbledygook to me.
But clearly whoever they had make these calculations for them is about as dumb as I am when it comes to math.
CH1
The Artist Formerly Known as chiggins.
zeke
Well-known member
It's actually amazingly simple which is why it's so funny.
I.e. the last formula there in the clown meme is what they actually did. Everything else they did was just to make it look more complex than that.
MindzEye
Wayward Ditch Pig
My goto economist Tyler Cowen on tarriffs (he rarely weighs in on policy)
This is perhaps the worst economic own goal I have seen in my lifetime. I cannot think of any credentialed economist colleague—Democrat, Republican, or independent—who would endorse it. And I haven’t even mentioned the risk that some foreign nations will retaliate against American exporters, damaging our economy all the more.
Trump’s reciprocal tariffs:
1) Impose hundreds of billions of dollars in new taxes on Americans without public/congressional input
2) Are based on secret calculations that have little, if any, connection to actual foreign trade barriers
3) Ignore all U.S. tariff/nontariff barriers, which in some cases are quite high
4) Are justified by a “national emergency” that reflects a total misunderstanding of how trade deficits work
5) Disregard U.S. trade agreement commitments, including ones made by Trump himself
6) Will make us all poorer, and likely do real and lasting harm to the U.S. economy (including in manufacturing)
7) Embolden our adversaries around the world.
Tyler Cowen: ‘Liberation Day’ Was Even Worse Than Expected
This is perhaps the worst economic own goal I have seen in my lifetime.
I'm telling you, right now Beijing and Brussels are both calling around to organize coalitions of economies to put a hurting on US services exports. Most of what the Americans do can be done by others....or in the case of things like streaming sites, social media, etc, can be forced to operate "domestically" with significant enough unified trade barriers
No one is going to want to run head long into this fight by themselves, but if you get a unified coalition of:
EU + Canzuk (~30T)
China + SEA (~35T)
The big bully doesn't look so big next to that.
zeke
Well-known member
hockeylover
Well-known member
WellPlayed
Well-known member
Basically they said ok, if we have a trade deficit with you, lets convert the $ value of the deficit to a % of the $ value of what we import from you. We're going to call that your country's tariff (that is not, in any way, a tariff). They then tried to hide the simplicity and complete idiocy of that with algebra.
They then took 50% of that not-in-any-way-a-tariff and used it to set their own actual-real-lets-do-another-depression "reciprocal" tariffs.
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zeke
Well-known member
It's the "reasonable centrist conservative but just could never vote for a lib" set's anger that makes me happiest.
View: https://x.com/jimgeraghty/status/1907819689939521724
View: https://x.com/jimgeraghty/status/1907819689939521724
