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Coffee Talk: I Should Have Had a V-8

mattola

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Ian Dunt, a columnist for the British publication iNews, found himself shocked and aghast at the economic self-destruction that President Donald Trump is leveling on his own economy.
In his latest piece, Dunt remarked of Trump's big tariff announcement this week that "this is what empires look like when they fall" and then went on to describe damage being done by the president.
"This might be the single stupidest thing any of us will ever see," Dunt argued. "It is stupid in every way: presentation, intellectually, politically, methodologically, morally and of course economically. The word stupid doesn’t really suffice for the full level of idiocy we’ve now reached."
Dunt found himself particularly appalled by the chart that Trump showed that contained wildly inflated figures about the tariffs foreign nations slap on American products.
"It looked like something out of US daytime television – those garish cheaply produced shows where you can win a cash prize if you spin a wheel," he remarked. "You half expected a showgirl to appear behind the American flags, draped over a tariff quota rate. That’s what he is really: a cheap knock-off daytime TV presenter."
As if that weren't bad enough, Dunt continued, "The numbers on the chart were pure gibberish."
In fact, the numbers on the chart were so far from reality that Dunt struggled to come up with the words to adequately describe them.
"It’s hard to state just how nonsensical that actually is," he wrote. "You might as well divide the numbers of apples in your kitchen by the number of bagels and use it to calculate your mortgage rate. To criticise it on political or economic grounds is too generous. It operates below the level of rational thought."

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KennyBanyeah

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maybe .. just maybe we should stop putting these idiots in positions of power.

she is setting her legacy in the wrong way. if she cant see how trump is DESTROYING the economy of several countries including his own then she is either really stupid or benefitting off it on the side.

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mattola

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Loco2

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"This might be the single stupidest thing any of us will ever see," Dunt argued. "It is stupid in every way: presentation, intellectually, politically, methodologically, morally and of course economically. The word stupid doesn’t really suffice for the full level of idiocy we’ve now reached."
Dunt found himself particularly appalled by the chart that Trump showed that contained wildly inflated figures about the tariffs foreign nations slap on American products.

That's the thing, right? Even if you think raising tariffs is a good policy (history and economists say it is not), the manner to make them an effective negotiating tactic would be to threaten them in the future (like a year or two away) to (1) give companies reasonable expectations and (2) to give them time to shift operations/manufacturing/etc. if they actually decided that would be in their best interest. Again, I think workforce/education investment and tax incentives for your OWN country is the way you accomplish, and not tariffs. But the way this is being done is destabilizing markets, only going to cost/piss off consumers as countries are all essentially shifting more taxes and consumer costs on their citizens, and it doesn't encourage investment because our leadership is telling businesses we are not a stable place to do business. So we are currently and will continue to feel all of the negatives of tariffs while yielding none of the limited benefits. Art of the deal, folks.
 

Bloody Brian Burke

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I used to joke about Freedom 75 - It doesn't sound as funny today.
Every boomer who’s posted this after major market fluctuations since 2008 that a year later are afterthoughts when the S&P is up 15% from where it was before the drop has more than enough money to retire off of and a house valued at 4000% of what they paid for it 30 years ago.

Everyone of them will be fine.
 
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