Trump reportedly believes economically illiterate claim that China 'pays' for trade war tariffs 'like theology' https://www.businessinsider.com/tra...-theory-that-china-pays-tariffs-report-2019-5
The middle class and poor buy cheap shit because that is what they can afford. It was said a few times already. The rich can afford to waste the cheap shit they buy along with the expensive shit they buy. The middle class and poor can't.
Don't want to sound like a broken record, as I said a few times prior, I really don't understand high finance and fancy economic theory, all I know is if I borrow, I have to pay it back or go bankrupt. If I borrow to spend today, I will have less money to buy more in the future. I also know that saving, delay gratification will help me build wealth so I will have more tomorrow. Why is a country different? If we buy more from the rest of the world, don't we have to pay them back, either by reducing our import from them in the future to balance things out, or have them buy up our assets? Either way we will be poorer tomorrow? The economists said, Ah, but we can print money, as long as they are willing to take our paper, why not? Where upon I say, I say the same about me, as long as the credit card companies keep lending to me, I am OK? But, one day the credit card companies stop and I go bankrupt. I think that happened to Argentina and Venezuela among others. You say but we are the great USA, we are the reserve currency! I say, until we are not. Some of you will call me stupid idiot and put me on ignore.
Sunshine boy ...nighttime boy....things are not always as they seem. Mr T is building a great big economic engine that will run for decades. Some weak looking things are really very strong. Like trading. Weak bars can sometimes be deceiving. Strong looking bars too can be deceiving. Please remember what I am say. NO RECCESSION. CHINA WILL BLINK. USA WILL WIN. WORLD WILL BE ENVIOUS AGAIN..LIKE IT USED TO. JOBS AND MANUFACTURING WILL COME BACK. LIBERALS WILL CRY. GLOBALIST WILL WEEP. PROGRESSIVES (rather regressives) WILL WAIL...THE DEPLORABLE WILL BECOME THE LOVEABLES. THE SUN WILL SHINE IN FLORIDA. THE OVERNIGHT WILL BECOME BRIGHT AS A SUN SHINY DAY. Cheer up my friends things ARE getting better not worse.
Trump is smart. You have to remember he's getting the best advice possible on these issues. Culturally, the Chinese aren't interested in win-win propositions with non-Chinese. They are only interested in doing business with you if they see an opportunity to take everything you have, eventually. If they don't respect or recognise your intellectual property rights and they have a significant competitive advantage in manufacturing, how can you win? There's really no option but to stop doing business with China.
Are you saying all modern economists and modern economic school are crap? Take some education courses before you ignorantly judge modern sciences. Also read piezoe's post in this thread, where he quoted modern economics view on trump's tariff. Also if you ever received higher education, ( which it seems you didn't), read what economics textbooks and economic theories say about tariff. What I quoted, which you called "carp", are only repeat of what are on economics textbooks and economic theories.
I’m all for the trade war, but didn’t Trump go against his advisors for further tariff hikes: https://www.cnbc.com/2019/08/04/tru...lap-tariffs-on-remaining-chinese-imports.html *Yes, it is CNBC*