No Excuses

ThinkProgress: Trump confidant dumped millions in steel-related stock last week (Also the Trade War thread)

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2 minutes ago, Larry said:

So, we're paying for the tariff wall?

I wonder how much we'll have paid out by the end of the tariffs. 

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The Chinese must be feeling like the Goths when they first beheld the Western Roman Emperor Honorius.

 

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Got to admire Pompeo.  Trying really hard to imply that Donald Trump gives a flying **** about any country's human rights record.  (Including the US, for that matter.)  

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Posted (edited)

I feel like we’ve heard this before....

 

Also interesting ****ing timing.

Edited by visionary

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Quote

What appears to have happened, according to new research from economists at the University of Chicago and the Federal Reserve, is a case study in how a measure meant to help domestic factory workers can rebound on American consumers, creating unexpected costs and leaving shoppers with a sky-high bill for every factory job created.

Research to be released on Monday by the economists Aaron Flaaen, of the Fed, and Ali Hortacsu and Felix Tintelnot, of Chicago, estimates that consumers bore between 125 percent and 225 percent of the costs of the washing machine tariffs. The authors calculate that the tariffs brought in $82 million to the United States Treasury, while raising consumer prices by $1.5 billion.

Quote

The new tariffs ended a yearslong decline in the price of washers in the United States, which rose about $86 per unit because of the tariffs last year, the authors calculate. But tariffs also raised prices for dryers, largely because manufacturers of laundry equipment used the tariffs as an opportunity to raise prices on things that were not, in fact, affected by the tariffs.

Trumponomics in action.

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Dow futures are currently down 500 points on the news of the China trade talks potentially being stalled due to Trump's tweet today. 

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