Posted on 04/28/2016 4:09:53 PM PDT by mrsmith
"...Icahn, who Trump had previously suggested could serve as his Treasury secretary, warned that markets will have a "day of reckoning" without fiscal stimulus, and argued that the U.S. government "certainly could do more spending."
"The Republican Party that I used to be more sympathetic with — I'm right in the middle now, although as you know I'm for Trump — but what I would say is Congress is in this massive gridlock," he said, explaining that the Republican-controlled body is "obsessed with this deficit to a point that I think it's almost pathological..." "
(Excerpt) Read more at cnbc.com ...
Retarded. Not everything you buy is imported. What is being charged is a tariff on imported goods which account for about 10% of the average family budget. And some of that is locally sourced(still for a while). So a 20% increase on 10% of the budget is a 2% "inflation" for the average consumer household budget.
Hyperbolic BS is still BS.
Without Free Trade there would be even more!
Trump admires Icahn and has (seriously or not) mentioned him as a Treasury Secretary candidate.
That’s what’s scary about these remarks.
No.
No.
Yes, when you raise the price of my domestic goods by 20%, I will buy less.
The price on imported; goods not domestic goods. You can't consume less domestic made goods when there are zero domestic manufactures to begin with for some products.
We’ve long since passed the point that priming the pump is now just economic jacking off.
Sure, they'll be consuming less imported goods. They'll have to cut back because they can't afford them after the tariff is tacked onto the price.
Domestic manufacturers may or may not step up and build new factories but unless and until they do it's going to be painful and no amount of lipstick is going to make that pig pretty.
Not more painful than the drip drip drip de industrialization of the worlds premiere economic manufacturing nation.
Icahn is part right. But in this article he makes it sound like we can do deficit spending forever without the trade measures that Trump will bring.
We do need to bring down the deficit. Republicans like Ryan focused on the deficit to the exclusion of all else. The real problem is that 50% of our working age population is not working. They aren’t paying taxes, they aren’t spending a lot of money into the local economy, and many of them are drawing government support. Fix that and the deficit will come down.
A fiscal stimulus if it actually went to building or repairing infrastructure wouldn’t be a bad thing. But If it goes to bundlers or to start recurring government expenditures like Obama’s stimulus did it would be a bad thing.
But changing the trade dynamics and bringing back our industries is critical.
In the short term it will, and sugar coating it isn't going to help one bit.
“he makes it sound like we can do deficit spending forever without the trade measures that Trump will bring.”
Scarier... he’s advocating the new wealth resulting from those policies be diverted toward paying for increased government debt instead of being invested in economic growth.
Sure deficit spending ‘can’ result in growth but as we’ve seen it often doesn’t.
Now, we are deficit spending just to pay for our ‘welfare’.
These of course are the same profit margins we have been trying to increase by enacting a tariff in order to allow manufacturing to expand.
It's manna from heaven! (Though as a non-domestic product it will have to be taxed 20%.)
lol
I don’t think Trump was ever serious about Icahn as Treasury secretary. He’s too old. But he is well liked. Trump was just winning over Icahn fans. He could serve as an advisor. But Trump makes up his own mind even when he has advisors.
I don’t think Trump was ever serious about Icahn as Treasury secretary. He’s too old. But he is well liked. Trump was just winning over Icahn fans. He could serve as an advisor. But Trump makes up his own mind even when he has advisors.
I don’t think he was all that serious either. He’d be a good choice- but why should he take the job?
(Maybe this interview was intended to make himself politically unacceptable ...)
And letting the credit markets tell you when you’re borrowing too much by raising your rates is a legitimate view for a company.
You've previously, finally, admitted that tariffs raise the price of domestic production.
You can't consume less domestic made goods when there are zero domestic manufactures to begin with for some products.
When you hike taxes by $540 billion, you will definitely consume less domestic made goods.
I think if you asked Icahn how fast he would close the doors on the EPA, HUD, the Dept. of Education, etc., you would get a different answer......
“...Icahn, who Trump had previously suggested could serve as his Treasury secretary, warned that markets will have a “day of reckoning” without fiscal stimulus, and argued that the U.S. government “certainly could do more spending.”
Oh, great. Is this what Deceitful Don meant when he said “I’ll surround myself with the best people”? A continuation of Obummer’s economic policies?
“Return” to pre-NAFTA levels. LOLOL— how much would it have to drop?
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