What about my 401K?
Posted on 07/10/2018 5:41:31 PM PDT by cba123
The Trump administration pushed ahead with plans to impose tariffs on additional $200 billion in Chinese products by releasing a list of targets, marking a sharp escalation in a trade war between the world's two largest economies.
The tariffs could take effect after public consultations end on Aug. 30, according to a statement from the U.S. Trade Representative's office Tuesday.
(please see full article at the link)
(Excerpt) Read more at dallasnews.com ...
I hear you - I was just pointing out that today the market is down on ‘trade fears’, but tomorrow the market is up due to a ‘trade relief rally’.
When I said earlier something like: “I’ve been to this rodeo before”, I meant that the drop is nothing to be concerned about.
Still, some of us do (try to) play the volatility in the market, so long-term prospects and/or fundamentals don’t mean all that much.
I understood what you were saying. I was just venting.. Have a great day!
Go President Trump and thank you for standing up to America!
It’s been a one sided deal for 45 years.
WINNING!
Are imported goods really that “cheap” in a larger context?
Frankly, I won’t be disappointed to see American products step in to fill the vacuum of less Made in China stuff, and yes I’ll pay more for it. Frankly, that’s a more worthwhile “tax” than what I pay for welfare and supporting illegals and so much other crap that I’m forced to pay without a choice.
This failed neo con old school thinking ( or non-thinking ). You are applying a static model to very dynamic economic situation which is stupid and myopic BEYOND BELIEF.
What Free Traitors want you to believe is that the supply function is static and no new domestic suppliers will EVER come on line. Despite their best efforts brand new factories are still being built in the USA all the time. Not as many as are closed mind you but the situation is dynamic and not static. With more domestic supply will mean pressure to reduce prices.
The mental midgets we lovingly call Free Traitors are some of the most myopic people on earth.
You are making allegations that cannot be proven.
What about my 401K?
Wrong. It's 5.2%. Link here.
It’s an econmic tool. The USA was very prosperous when the Federal Govt was COMPLETELY funded by tariffs(1789 - 1913).
I can depend on you to cherry pick bad data like I can depend on the sun rising every day in the east.
I specifically said I was using a weighted average and not a simple average to account for data skew. Then what do you do? You run off and bring me back the simple average. Now go back and check the weighted mean.
Oh, and by the way, I just LOVE how you people run down the WTO and then report back with data FROM THE WTO!
Only in your imagination. Our growth probably was impeded by the tariffs since that is what a tariff does. Taxes do not grow an economy. And a tariff is a tax.
Tariffs slow growth and can even destroy certain industries. There was no alternative to a tariff when the nation was formed. There were no data on incomes, so that could not be taxed. Property taxes were excluded by the Constitution so they were out. Selling of public lands provided the non-tariff revenue the federals collected.
Why do you pretend there are no negative effects of tariffs?
Surely you know better.
As we make more thing here in the US the top-tier employees will be more in demand and will be able to earn more money for their skills. As these people move up the ladder, other will get promotions and intern earn more money as well.
Import tariff do not slow growth and are far far far superior to the income tax. Their only fault is the can be inflationary which dissipates as domestic suppliers kick in. Nobody is listening to your illogical free Traitor™ lies anymore.
Anyone with half a brain can see that a tariff is a tax.
A tax is not a source of economic growth and never can be.
You don’t get to make up your own economics, much as you are dependent on that.
Tariffs were notorious for the potential for bribery of government officials. Who would pay them more: the iron and steel makers who profit from the exclusion of foreign steel or the Railroads who lose because the steel is higher? Steel was a major input to railroads. This is only one of many instances.
There is also the potential for disparities of impact on the different states.
And what about those businesses and their employees who lose their jobs because their industries are hurt by a tariff. We are already hearing squawks about this.
Those advocating tariffs NEVER consider the negative consequences. Its all gravy.
Good.
Maybe this will also incentivize China to contain N. Korea.
When I was a kid growing up in the Mission District of SF, there were factories sprinkled all throughout the neighborhood. There was a broom factory two blocks from my home, I passed it every day while walking to elementary school. Factories hummed while workers manufactured goods. Railroad tracks criss-crossed the Mission District with freight trains picking up and delivering goods. Those factories and tracks are long gone. As a 16-year-old teen I began working part-time at a sign company near my high school. All the materials were USA origin, and I picked up skills with machine equipment, gas torches and chemical processing. I worked my way through college working at several different shops. Even though I ended up as a suit at desk jobs, the knowledge and skills I learned from blue-collar work helped me throughout life.
Sadly, I look at the younger generation and see kids who had no exposure to machine skills and manufacturing. They're dumb (even with higher I.Q). They have no skills with their hands and many are pretty much useless around a house. All they have is the service sector, working as paper pushers or store clerks. Not all; I've worked at TechShop (now closed in the USA, reopened as TheShop.Build in SF) and seen many young people learning equipment skills . This is what President Trump is trying to change, to make America great again by bringing skills back here to the USA. More power to him!
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