Anyone watching the big game tonight?

[TimmyPage]

I don't want to come across as being pro trump or pro tariff, but I am trying to understand why if universally "tariffs = bad" then why is the rest of the world seemingly charging such high tariffs on US goods?

I'm not an economist or educated at all on this sort of thing but I would like to understand. Obviously I understand the inherent and immediate negative impact of consumer goods going up due to this, but if this is being leveraged to reduce or eliminate tariffs other countries charge on US goods it almost seems to make. sense in an overarching long term way. Which I loathe to say so I'm hoping someone can slap some sense into me here.

I can't speak for every case, but with the ones that pre-existed here they were largely because the US economy is several times larger than ours. If all American dairy farmers had no limit they could come in and completely wipe out that sector of our economy, whereas the reverse could never happen.

So we made a deal. We said we can produce X units of dairy to sell a year. You can sell us a similar number units back, and once we hit that limit, rather than turning trade away (which is a lot of paperwork and other issues), we'll have a tarriff that makes it less beneficial to sell in our market. It's fair because both sides get roughly the same monetary/trade benefit while also protecting the smaller economy.

The tariffs in place, at least in Canada, weren't some slight on America, they were a deal we previously worked out so that both of us could prosper. Trump's country-wide tariffs are purely destructive and don't even help America either. If anything, once you have a same president in again I suspect more countries will keep strong tariffs against America to prevent any kind of tampering.

 

[MetalDestroyer]

But nasdaq / dow are slightly up? Am I looking at the wrong thing?

yeah look at after hours/futures

Google Search

 

[narad]

yeah look at after hours/futures

Google Search

Ah, okay, so more of an obvious shitshow once it's opening hours on the east coast then I hope.

 

[TimmyPage]

Ah and it turns out the second half to my answer is that most of the tariffs he's reported aren't real and he doesn't understand how trade works. You guys really have the dumbest administration in history.

 

[PuckishGuitar]

Ah and it turns out the second half to my answer is that most of the tariffs he's reported aren't real and he doesn't understand how trade works. You guys really have the dumbest administration in history.

Trump wouldn’t just lie like that, would he?!?

 

[Metalman X]

Trump wouldn’t just lie like that, would he?!?

Well, he did say "Tarriffs will make us rich" ....the only truth there is who exactly does he mean by "us". Cuz it sure as fuckshit ain't gonna be, well, ...any of us.

But "Oh he's just playing chess" ...sure, okay, prove to me he actually has the mental acuity for tic tac toe first, if that starts to go well (it won't) than lets see how he does with checkers. Than, maaaaybe than, lets see if he has anything intelligent to say about anything that matters. Sure Biden was seemingly about as aware as a turnip in the last couple years, but at least it didnt turn him into a belligerent toddler who thinks government works on the principal of "the beatings will continue until morale improves". When the fuck has that ever worked out for anything? Back when I was an electrician, I had a boss that was just like that. He had a lot of personality traits and such as Trump. He also wound up in prison for a couple years for embezzlement.... nevermind the large garage one of his lackies had literally filled with expensive ladders and other materials, with company property tags on it that they we're "gifted". This same asshat would expect people to buy him chinese for lunch before he'd even sit down and listen to you for anything, despite making six figs, and that just one of a huge list of his "flexes" I could give. Having worked with people like that for fucking years in one capacity for another I have zero sympathy or fucks for any of them.

 

[Bodes]

The funniest thing I've read today was that he put a huge tariff on Aussie beef, but almost all of MacDonald's burger beef is Aussie (who'd have thunk!?!). So he has just really hurt his favourite restaurant.
A whole bunch of jokes around that.

 

[Randy]

Won't directly lead to anything but the Senate actually voted AGAINST the tariffs. So there you have it, Republicans (including McConnell) voting with Democrats and AGAINST Trump. Thats the first crack.

Snubbing Trump, bipartisan group of senators votes against Canada tariffs

The 51-48 vote supporting Sen. Tim Kaine's resolution was the most striking bipartisan rebuke of White House policy since Trump's second term began.

www.msnbc.com

 

[Moongrum]

yeah look at after hours/futures

Google Search

down 10% year to date

Won't directly lead to anything but the Senate actually voted AGAINST the tariffs. So there you have it, Republicans (including McConnell) voting with Democrats and AGAINST Trump. Thats the first crack.

Snubbing Trump, bipartisan group of senators votes against Canada tariffs

The 51-48 vote supporting Sen. Tim Kaine's resolution was the most striking bipartisan rebuke of White House policy since Trump's second term began.

www.msnbc.com

I feel like a lot of dentheads voted for Trump because they thought he would fix the economy. There's no way repubs win the next election cycle if this continues, especially as your pointing out, the repubs are against Trump on this.

 

[Randy]

down 10% year to date
View attachment 160627

Sports forum I post on that's more boomers (post-retirement, 60+) day traders mixing with 30s-40s, and for as long as I've been there, they're always openly giving eachother stock advice. Nearly zero panic ever, lots of "now's the time do buy the dip" etc.

Instability has been simmering since Trump came in and yesterday the place exploded. Accusations flying around, basically people saying you told me to invest in this and now I've lost a bunch of money, when's it going to get better, why would anybody's listen to financial advice from strangers on the internet, etc. etc.

Lot of these guys have been buddies for 5-10 years and the downturn in the market has everyone knifing eachother in the back.

 

[narad]

Sports forum I post on that's more boomers (post-retirement, 60+) day traders mixing with 30s-40s, and for as long as I've been there, they're always openly giving eachother stock advice. Nearly zero panic ever, lots of "now's the time do buy the dip" etc.

Instability has been simmering since Trump came in and yesterday the place exploded. Accusations flying around, basically people saying you told me to invest in this and now I've lost a bunch of money, when's it going to get better, why would anybody's listen to financial advice from strangers on the internet, etc. etc.

Lot of these guys have been buddies for 5-10 years and the downturn in the market has everyone knifing eachother in the back.

So you're saying now's the time for me to buy?

 

[BlackMastodon]

He's like King Midas, but he turns everything he touches into turds

Aesop Rock calls this the Anti-Midas.

 

[wiretap]

Aesop Rock calls this the Anti-Midas.

There’s also an old band called Breather Resist (broke up and mostly went on to be Young Widows) that besides being an awesome band, have a song called “Midas In Reverse” and I always think of that, myself. Great song, also.

 

[wankerness]

So you're saying now's the time for me to buy?

Yeah, if you want to watch the stock prices of everything continue to plummet after you pay for them. I’m expecting my retirement to go down by about 50% minimum if he doesn’t back down from these within a week. As well as my other stocks. I should have cashed out last week!!! Now I’m screwed, so much for house down payment. Thanks trump.

 

[Surveyor 777]

Yeah, if you want to watch the stock prices of everything continue to plummet after you pay for them. I’m expecting my retirement to go down by about 50% minimum if he doesn’t back down from these within a week. As well as my other stocks. I should have cashed out last week!!! Now I’m screwed, so much for house down payment. Thanks trump.

Yeah, that's one of the first things my wife and I thought about after dipshit was elected this time. The last time he was in office and bungled everything up w/Covid, I remember looking at my wife's and my retirement statements and asking "where the hell did all this money disappear to?"

With my wife's Mom and my Mom both passing away last year, we both inherited a decent amount of money (for our standards, at least). Asked her what she thought about investing it. She reminded me that asshole was running for Pres again and said "no", until we found out who won. Glad we didn't invest that.

I still tense up to think about what our next investment statements are going to look like.

 

[HeHasTheJazzHands]

I said I wasn't gonna buy a Switch 2 on release... Guess I'm gonna have to because of the tariffs lol

 

[jaxadam]

Yeah, that's one of the first things my wife and I thought about after dipshit was elected this time. The last time he was in office and bungled everything up w/Covid, I remember looking at my wife's and my retirement statements and asking "where the hell did all this money disappear to?"

With my wife's Mom and my Mom both passing away last year, we both inherited a decent amount of money (for our standards, at least). Asked her what she thought about investing it. She reminded me that asshole was running for Pres again and said "no", until we found out who won. Glad we didn't invest that.

I still tense up to think about what our next investment statements are going to look like.

About every time this year we make a pretty sizeable contribution to our retirement plans for tax purposes and I asked my accountant/financial advisor if we should be writing a check for it for this year right now. I was actually expecting him to say no, they would just hold it in cash or move it into something else, but he said yes; they were expecting a dip and for there to be a rough patch for the next 6 to 7 months, but to go ahead and do it. Everything still looks fine with our stuff.

 

[ArtDecade]

One thing I said to my friend, Canada should block p**nhub. You'll see so many trump voters who have no idea how to a VPN (which is probably a majority) do an about face, it'll make their heads spin.

I am not sure if you are aware, but MAGA doesn't use the Hub. They pull it to Fox news and old YT videos of Trump rallies.

 

[eaeolian]

Sarah is a Zionist so fuck her even before she decided to throw trans people directly under the bus.

The only trans politicians worth a shit are Zooey Zephyr and possibly Danica Roem if she’s still doing political stuff. Danica used to be in a thrash band so she’s rad lol

Danica is a personal friend, and she actually got into this to do good for her town. Extremely effective legislator for progressive causes but with pragmatism that comes from actually being a journalist on the Hill. I wish she was actually my state Senator.

 

[Church2224]

I love how people voted for trump to lower prices and fix the economy , and now he is going to increases prices and ruin the economy. Nice Job....

The sad thing is the amount of people defending this as the best thing to happen despite all logic to the contrary...

Yeah let's ruin trade, our relationships with trading partners and the market so we can get back at everything one else and the slight chance we will bring jobs to the States! That'll show em....

I been big Rand Paul guy for about 10 years ( even wrote his name in for the 2016 election and voted for him in the primaries) and I am glad to see him standing up against this, it also makes me sad he is one of the few in congress with a backbone...