Didn’t you tell us before that previous tariffs and price increases were good for your business??
Economy
- Thread starter BigRedBuster
- Start date
teachercd
Active member
There are a lot of stocks on sale today. I am just not sure if it is a quick freakout and it will start to go green here tomorrow or if we are going to see red for a few weeks.
Musta been those silly oligarchs.
Either way you are getting a long term discount
BigRedBuster
Active member
Idiot.
Guy Chamberlin
Active member
The stock market definitely affects the wealthy, and the business class is no doubt pissed at Trump right now.
How did this happen?
While Trump may have floated tariffs during the campaign, nobody really pressed him on it and nobody really cared because Trump says a lot of crazy s#!t and tariffs might have been a bluff and it wasn't like he was going to risk them on generally healthy trade relationships with Canada, Mexico, and the EU. The business class knew their tax breaks were coming and Trump was willing to play ball with things like Ai infrastructure and incentives, maybe a little crypto on the side, and of course the robust deregulation of anything that reduces profits.
So when Trump had to figure out how to replace those trillions in tax breaks to the wealthy, he starts with huge budget cuts. That's still not going to be enough -- unless you plunder Social Security. One of very few options that puts discretionary money directly in the U.S. Treasury are tariffs.
All right, says Trump. Let's do tariffs.
Going to have to be a lot of tariffs to fill that hole.
Then let's tariff the s#!t out of everybody. We have the leverage.
America First, absolutely. But you may want to consider the inflationary fallout, the optics of a stock market plunge, and the political risk of alienating every nation in the world but Russia.
Too much reading. Has a U.S. President used tariffs before?
McKinley did in the 1890s.
How did that turn out?
Can't remember. I could pull something up on Wikipedia.
Too much reading. Let's just run with McKinley, and get that mountain named after him again.
And here we are.
I honestly don't think the above scenario is an exaggeration.
How did this happen?
While Trump may have floated tariffs during the campaign, nobody really pressed him on it and nobody really cared because Trump says a lot of crazy s#!t and tariffs might have been a bluff and it wasn't like he was going to risk them on generally healthy trade relationships with Canada, Mexico, and the EU. The business class knew their tax breaks were coming and Trump was willing to play ball with things like Ai infrastructure and incentives, maybe a little crypto on the side, and of course the robust deregulation of anything that reduces profits.
So when Trump had to figure out how to replace those trillions in tax breaks to the wealthy, he starts with huge budget cuts. That's still not going to be enough -- unless you plunder Social Security. One of very few options that puts discretionary money directly in the U.S. Treasury are tariffs.
All right, says Trump. Let's do tariffs.
Going to have to be a lot of tariffs to fill that hole.
Then let's tariff the s#!t out of everybody. We have the leverage.
America First, absolutely. But you may want to consider the inflationary fallout, the optics of a stock market plunge, and the political risk of alienating every nation in the world but Russia.
Too much reading. Has a U.S. President used tariffs before?
McKinley did in the 1890s.
How did that turn out?
Can't remember. I could pull something up on Wikipedia.
Too much reading. Let's just run with McKinley, and get that mountain named after him again.
And here we are.
I honestly don't think the above scenario is an exaggeration.
Last edited by a moderator:
JJ Husker
Donor
That is a slight mischaracterization of what I have said previously. Speaking about Covid (not specifically tariffs) I said the higher prices and certain business closures didn’t hurt my business. I was able to pass on the increases and, being deemed a necessary business for the food chain, we and our core customer base didn’t have to close. Sales increased only because things cost more and thus sold for more. It’s quite a stretch to say that is good for business.
But purely selfishly, yeah, profits also increased at the same time. I don’t need the practice. If I’m going to build and sell something, I’m going to make the margins I want to make. As an example, if I make 10% on $20k in sales, that’s $2k. If that sale is now $30k at the same 10% (rem, I don’t need the practice) now I’ve made $3k for basically the same thing. That is inflation and I’m not going to be the one paying for it. Is that good for business? Debatable. Is it good for me personally? Also debatable because I still have to deal with inflated costs outside my business. Tariffs are different than a pandemic. The purse strings tighten when consumer confidence falls. I’ve already seen sales numbers decrease in December, January and February. However, March was a good month. So far I attribute March to a last minute rush to purchase desired things before the price goes up. I am very concerned that, when the increases do hit, sales may suffer. It’s just a different sentiment when it’s avoidably self inflicted rather than an unavoidable pandemic. Maybe I’m a worry wort…most business owners are.
Guy Chamberlin
Active member
If we can flip at least Congress in the midterm, and field a Democrat than can restore sanity in 2028, these stock prices may indeed rebound and turn a nice profit for the opportunists.
Those of us who timed a lifetime of investment to match our retirement needs and our kids' 529 college funds are a bit less patient with this idiotic experiment.
teachercd
Active member
side note: You can roll those 529's into a roth ira now...if your kids choose to not attend college. That is new(er).
BigRedBuster
Active member
These people are so deep into the cult.
BigRedBuster
Active member
So, now we want to devalue the dollar.
It’s so hard to keep up.
It’s so hard to keep up.
BigRedBuster
Active member
[No message]
Danny Bateman
Donor
I’m very green with business news as basically everything I know is self-taught since I never took any business or finance classes at any point in my schooling.
That caveat aside, this Lutnick guy seems like an absolute moron and I’m not sure why the administration would want him out there as a visible face of their leadership as this entire debacle unfolds.
He’s just wedging their collective foot forcibly further into their figurative mouth.
Dr. Strangelove
New member
true
We are being led into the abyss by the most retarded group of people imaginable.