Donald Trump: Here's the one area where Bernie Sanders and I agree [WITH CHINA ON TPP]

Business Insider ^ | February 8, 2016 | Maxwell Tani

[expat_panama]

Donald Trump said Sunday that there's one issue on which he and Sen. Bernie Sanders (I-Vermont) agree: trade.

In a CNN interview Sunday, Trump pointed out that he and Sanders both opposed the Trans-Pacific Partnership, the multinational trade agreement brokered by the Obama administration.

The deal aims to reduce tariffs and put legal standards in place in the 12 participating countries.

"The one thing we very much agree on is trade. We both agree that we are getting ripped off by China, by Japan, by Mexico, everyone we do business with," Trump said.

But though the mogul suggested that he and Sanders both agreed on the issue, Trump argued that only he could make "absolute gold" out of future trade agreements.

[snip]

Though her State Department once led TPP negotiations, former Secretary of State Hillary Clinton came out against the deal earlier this year. She has taken issue specifically with the final product's currency-manipulation-enforcement measures and concessions to the pharmaceutical industry.

[expat_panama]

The article may be old but the date on the site said "19 h" ago. At any rate, according to the Trump/Sanders/China team our enemies are: New Zealand, Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, Peru, Singapore, and Viet Nam.  An IBD editorial pointed out:

Pentagon, think tank, and congressional sources adamantly agree that TPP will create a powerful soft-power alliance of nations who will help us to counter China as it makes increasingly aggressive moves in the South China Sea. That's where many TPP nations -- Malaysia, Brunei, Singapore, Vietnam -- are. That's why China doesn't like the treaty.

[expat_panama]

Kick the hornet’s nest ping.

[2ndDivisionVet]

Attacking the Kulaks?

[momincombatboots]

Lol I called it first.. Trump n Bernie. First trump will fix obamacare by rolling out single Payor govt funded healthcare. In his two term, he will implement Bernies free college because he will realize Bernie is right... Americans need college to be successful. Mr single Payor 2000.. Dealmaker.
It does make me wonder why uncle sanders doesn’t like obamatrade.

[expat_panama]

Related threads:

• Trump: I 'very much agree' with Sanders on trade
• Trump, Sanders Agree on Way Too Much
• Vox: Hey, Donald Trump and Bernie Sanders Agree On A Lot of Stuff, Huh?

[Greetings_Puny_Humans]

Pentagon, think tank, and congressional sources adamantly agree that TPP will create a powerful soft-power alliance of nations who will help us to counter China

Of course they would think that. They like the trillions of dollars they hope to make by selling our souls. As soon as TPP hit the news for the first time, I had already saw an article how 20 corporations were already planning on moving manufacturing to places like Vietnam. Congress shot down every amendment that would have made the deal better, including Cruz, who voted against an amendment that would have allowed Congress to put up to a vote who we would allow into the agreement. What's that smell? It's the smell of conniving bulls*** you fools.

[expat_panama]

 

Good morning everyone, at least for cash that is.  Futures traders have all markets down a half % w/ metals -0.14% and stocks -2.14%.  Last week IBD called this "market under pressure" but today they may very well cut that to "correction". 

No major econ reports.

btw, metals  have been soaring, gold/silver right now are at $1,175.70/$15.03.

Econ threads:

• Dot-Com Bubble 2.0 Is Bursting: Tech Stocks Are Already Down Half A Trillion Dollars Since Mid-2015
• How Ted Cruz Could Deliver the Coup de Grace to Donald Trump
• Healthy Economic Growth Is Our Missing Ingredient

[BobL]

Sanders also wants border security and decreased immigration.

I can’t believe that I EVER supported Trump!

[grania]

Quite often, those on the left and those on the right agree on what problems we face. What they disagree on is how to solve them. The problem is the uniparty soldout elitist globalist sewage in the middle that has lost sight of ordinary US citizens, who suffer from their garbage.

To solve the problem, it's the pols and their paymasters that have to be sent packing from DC. Then liberals and conservatives can have a discussion of how to solve the problems we face. In an honest search for real solutions, conservatives will win, every time.

And those defending TPP? It destroys those jobs that support a middle class in the US. What we need is to protect and grow US manufacturing, not get further competition from cheap labor sources and currency manipulation.

[St_Thomas_Aquinas]

And a 45% tariff on imported Chinese goods will have the same effect as the Smoot-Hawley tariffs did during the Great Depression, reducing imports AND exports by 65%.

It would drive us into a deep depression.

Trump simply does not understand free trade.

[FreedomForce]

The only thing Trump understands is real estate development. He’s pretty empty-headed about just about everything else.

[wewereright]

The TPP is not free trade - 30 chapters and more than 2,000 pages. A real free trade agreement could be a few pages long and simply remove terrifs and prohibit currency manipulation.

Most of this has little to do with trade - but addresses things like labor and the environment. There are side letters though that carve out special exceptions for Japanese companies. Meaning more jobs for Japan and fewer for our country.

[Greetings_Puny_Humans]

And a 45% tariff on imported Chinese goods will have the same effect as the Smoot-Hawley tariffs

FYI, the United States was funded by tariffs for most of its history, including by tariffs in the 30 to 40 percent range, others 20 percent. This did not change until the income tax.

[Soul of the South]

Smoot Hawley passed passed in 1930, after the 1929 financial crash. A global economic crash, not unlike the 2008/2009 financial crash was well underway before Smoot Hawley was passed. Consumer and industrial demand was collapsing.

At the time Smoot passed, foreign trade (imports and exports) accounted for 5% of US GDP. So if you are correct the entire drop in trade is due to Smoot, and none to lower demand, the reduction of US GDP attributable to Smoot from 1930 to the bottom of the Great Depression is 3%. The total decline in GDP was 55%. Sorry, free traders have argued for years high tariffs caused the Great Depression but the data doesn’t back up the claim. The fact is trade was too a small percentage of the US economy in 1930 for a 65% reduction in trade to cause a 55% reduction in the total economy.

Other domestic factors caused depression which began in 1929. The huge contraction of the money supply by the Federal Reseve was a huge factor. The collapse of the banking system was another. Add to that the destruction of capital in the 1929 stock market collapse. Domestic agriculture was already in a severe recession before 1929 and was much more important than foreign trade. By the time Smoot passed the economy was in a free fall from a liquidity crisis and collapse in demand which had nothing to do with trade. Blame Smoot if you wish for a 3% decline in GDP. Look at other factors for the remaining 52% reduction in GDP.

Consider also the greatest period of economic growth in US history occurred from 1865 to 1900. During that period the US had the highest tariffs in its history. Over the last 25 years the US has lowered tariffs to the lowest levels in its history. The free traders promised an economic boom. It happened, in China, not the US.

[montag813]

Trump is right. The GOPe is so infested with Free Traitors, it is destroying the nation. The same vermin who sell out to China also demand open borders to flood America with unskilled Third Worlders. Bernie is actually more patriotic than Marco Rubio and Jeb Bush on this issue (and some would argue Ted Cruz, with his TPA vote). A sad testament to the utter failure of unfair trade.

[montag813]

And a 45% tariff on imported Chinese goods will have the same effect as the Smoot-Hawley tariffs did during the Great Depression, reducing imports AND exports by 65%. It would drive us into a deep depression.

No serious historian claims anymore that Smoot-Hawley caused the Great Depression. I learned this in school. It is now widely discredited. Amity Shales did great work in this regard.

[montag813]

And a 45% tariff on imported Chinese goods will have the same effect as the Smoot-Hawley tariffs did during the Great Depression, reducing imports AND exports by 65%. It would drive us into a deep depression.

Keep in mind also that Trump was NOT serious about this number, as Douglas Adams pointed out. This is CLASSIC "Art of the Deal" posturing...you throw out an outrageous figure as a serious position, and thus virtually guarantee the final number will be to your advantage. Trump would run circles around our rivals, especially compared to the paid-off traitorous politicians we now have on both parties.

[expat_panama]

Trump is right.

Let's see, we got Trump, Sanders, Hillary, China, North Korea, Iran, ISIS, and you --eight votes against the TPP.  In favor we got me, Canada, the U.S., Australia, New Zealand, Chile, Japan, Malaysia, Singapore --eight again.  We're 'even' I guess...

[expat_panama]

Trump was NOT serious...   ...CLASSIC "Art of the Deal" posturing...

Then where are the principles --is he serious about 'make America great again'? Eventually we really need to get him to quit changing his mind to us on things that we care about, before we decide to vote him a 4-year blank check.

[AntiScumbag]

Well, it’s certainly a good thing that we haven’t been governed for the last 100 years by morons who think that high tariffs are a good idea.

You do understand that tariffs are just taxes by another name, right? And that they destroy trade, right?

If so, you also must also admit that Trump understands absolutely nothing about basic economics.

If he’s the nominee, we can only hope that someone gives him some better economic advice somewhere along the way.