Recession is upon us - disastrous economic data

[The Frankish Reich]

14 minutes ago, Big Blitz said:

 

And?

 

Is it our fault the EU for example puts what - a 20 percent VAT on all our good sold there - they can argue all they want that it’s a tax that’s applied to their domestic goods equally.  But those aren’t the free trade rules we play by.  
 

Why are they collecting the same percentage on US produced goods - the VAT is designed to help their own domestic producers due to the rebates they get along the supply chain.  
 

Our imported goods - hit their consumers directly with their 20 percent VAT.  

Our sales tax by state is on average 3-5 percent?  
 

Now you’ve been doing a lot of math today.  How much of a percentage increase is that on our finished good in the EU vs their finished goods in America?

 

And that’s why Team Trump used that “insane” formula they did.  I get it.  And we all have to remember - there is no rule that can apply with what they’re doing because it’s 2025 and the global economy is not the same as 1935.  This is all theory.  I don’t think it’s a magic fix.  I don’t think it’s going to lead to the ridiculous price increases the “experts” claim they will lead to either.  
 

The costs we would like to increase are American real wages.  

Nothing on point here.

Your initial argument (cut and pasted from an old CATO article) suggesting that the U.S. economy in the 1920s continued to grow despite (not because of) a tariff increase; therefore, the current tariff increase poses no problem.

Which ignores the fact that it is 100 years later, with a far more interconnected world economy, and that Trump's proposed increase, when it goes fully into effect in something like 70 days, will be approximately 25 times greater than that 1922 increase.

 

As the WSJ editorial said, Trump seems to believe that if a little bit of something is good, a lot of that something must be a whole lot better. A lot of MAGA types are so seduced by his shoot from the hip nonsense that they can no longer even comprehend how outrageous his proposals are. Not just twice as large as the largest prior tariff increase, but 25 times larger. 

[Joe Ferguson forever]

10 hours ago, Big Blitz said:

 

AI.  But carry on. 
 

 

Now let’s AI the federal workforce 

What job do you have that is vital and irreplaceable by a AI gameboy?

11 hours ago, Doc Brown said:

Man.  You guys will swallow anything.  It rebounded because investors are making a bet that Trump will continue to back down on tariff implementation because it'll spook the markets too much. 

and b man and blitzkrieg will continue to blame Biden for any future economic problems...

[The Frankish Reich]

Surprisingly strong April jobs report shows resilience of the Biden Economy!

[K D]

26 minutes ago, The Frankish Reich said:

Surprisingly strong April jobs report shows resilience of the Biden Economy!

Key word there is APRIL so that's Trump. Quarterly numbers are definitely Biden though. Trump wasn't President until almost Feb. It's common sense.

[B-Man]

 

 

Below the April Jobs headline

 

 “Federal government employment declined.“

 

https://www.bls.gov/news.release/empsit.nr0.htm

 

 

[Roundybout]

57 minutes ago, K D said:

Key word there is APRIL so that's Trump. Quarterly numbers are definitely Biden though. Trump wasn't President until almost Feb. It's common sense.

No no. This is Biden’s economy. Vance said it himself. 
 

Unless he’s a lying piece of garbage that won’t take blame for bad things happening. 

[K D]

35 minutes ago, Roundybout said:

No no. This is Biden’s economy. Vance said it himself. 
 

Unless he’s a lying piece of garbage that won’t take blame for bad things happening. 

He was talking in response to the quarterly GDP numbers. This is a month to month jobs report.

[aristocrat]

Man I thought we were doomed