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TOPIC: Trump's stupid tariffs
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Re:Trump's stupid tariffs 1 Month ago
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The tariffs are a nonsense and extremely bad idea and typical of Trump..toss a hand grenade into the current order with no long term plan.
They are a new tax, like sales tax, on American consumers who are now paying higher prices for their necessary food and other imports.
That's until those goods run out .
Why do people laud the notion of tariffs when 350 million Americans pay this new tax. How on earth is imposing a new tax on consumers a "brilliant" idea?.
Trump could have just increased Federal sales tax but then..he couldn't get away with the blatant lie that exporting countries pay a tariff rather than the truth, importers pay it and generally pass the cost onto the consumer.
Bizarrely the majority of the MAGA crowd still seem to think China is paying the tariffs rather than them.
I really don't think Donald Trump has a clue that the USA is no longer a manufacturing country and that the giant US corporations have moved off shore.
Then again every single business Trump has created he has sent bankrupt including 3 casinos, a license to print money (one Casino he sent bust twice)
Trump has inherited a basically bankrupt country (US debt outstrips it's assets) but putting an economy in the hands of an incompetent "businessman" is folly.
Now Trump is trying to bully Apple into building a US factory to build IPhones but there is no skirting around the fact a US manufactured IPhone would cost over $3000 to the consumer rather than the current $1K.
There are a 1000 similar stories of how US manufactured goods, if in the unlikely possibility it would happen, will be too expensive for US consumers.
Fact: according to the US Financial Times China's exports have actually increased by 8% since this debacle happened.
This means they either have 1000s of brilliant export experts on the go or perhaps, they always anticipated trade problems with the US.
Fact: Biden put 100% tariff /import duty on EV electric cars.
It raised bugger all $$.
What it did was give the US based Tesla manufacture an exclusive monopoly on EVs selling at inflated prices.
In the meantime China created it's own EV industry so now the world's most popular EV is the BYD brand outstripping Tesla sales by 100,000s.
Biden's tariffs merely enriched one man. not the US. Not a single penny was raised for the US and the same will happen when US imports dry up.
How can inflated tariffs raise money for the US government when there are no imports ?.
The USA is riddled with crippling debt not caused by Trump but he did add $2Trillion to debt in his first term.
China and India have no external debt, rather with Japan they own US debt.
It's the beginning of the end of the US Empire that has lasted for 200 years but is now absolutely crippled by debt. The total collapse may take a few decades but all Empires eventually dissolve for many reasons.
Capitalism has some terrible flaws that usually end in depressions like in 1929 but works well when there are strict government controls.
But every US president since Reagan has caved into corporations dismantling regulations that kept rampant Capitalism at bey.
In 5 years China with ally India will be the richest & most powerful trading block on the planet, dwarfing the US which exports basically nothing.
The BRICS nations, China, Russia, Brazil along with ME Arab countries (and others who will rush to join) are replacing the $$$ with the Chinese Yuan which spells the end of US dominance.
The illegal invasion & destruction of Libya by the US, UK etc because Qaddafi planned to replace the $$ as currency among Arab countries just delayed the inevitable.
Verdict: be nice to China and make them your closet pals.
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