If Walmart ate the tariffs, profits would decline or evaporate altogether, leaving less for management and shareholders. Someone has to pay for tariffs and it’s not going to be the exporters, managers or shareholders. That leaves consumers who seem to have figured that out. Here’s hoping that they take their retribution out on the party in power who has caused them completely unnecessary pain.
On the one hand we strive relentlessly for efficiency and profits - through large scale mechanization and large corporate farms in agriculture and robotics and AI in manufacturing - and decry, on the other hand, loss of jobs in these sectors. And the sop we offer in exchange is tariffs. The national psyche ought to have its head examined.
Doesn't the evidence suggest that there IS more that the President can do to lower prices, namely blackmail? He can threaten Walmart with investigations and official harassment that will cost more to them than lower prices would, thus incentivizing them to lower their prices. Just because you didn't think this was something the President *should* do, when you were in the administration, doesn't mean it's not something the President *can* do, as he's now doing.
My impression at the time Biden brought up “price gouging” was that it was mostly performative, I.e., bonding with voters, and he didn’t really think it would make a difference. On the other hand, my impression is that Trump actually thinks bullying retailers will work. After all, he managed to bring some colleges and law firms to heel with bullying, as well as the entire Republican leadership, so why not?
Trump has backed down against pusback several times. People are essentially going to tell him to fuck off now. He's been exposed and everyone knows "he doesn't have the cards."
D has defied common wisdom in using his powers of the Presidency. Just as universities, law firms, political parties, media outlets, et al have acquiesced to his will....I fear so will a segment of the commercial world. Then we have fascism, correct??
And yes, he did it himself. The Trade War thing was an own goal and NOT what the oligarchs wanted from him.
His job was to ram through a tax cut extension AND cut deeply enough into entitlements so as to maintain US$ stability.
But he's not doing that either. Spending is still rising and taxes are cut even further in the bill that just cleared committee.
Tough to sell 30 year Treasury Bonds at anywhere near current yields when the CBO project the debt to GDP ratio hits 220% in 2055 (and that's based on a fairly optimistic growth forecast).
Liquor industry reports higher sales and expects this trend to continue. WHY? Prices are higher and drinkers are choosing better brews and spirits. They want to pay for better taste. So they pay more; drink less; and it enjoy it too. Consumables shod be much more expensive. Why? LOOK at the bodies.
If Walmart ate the tariffs, profits would decline or evaporate altogether, leaving less for management and shareholders. Someone has to pay for tariffs and it’s not going to be the exporters, managers or shareholders. That leaves consumers who seem to have figured that out. Here’s hoping that they take their retribution out on the party in power who has caused them completely unnecessary pain.
When will trump's voters realize that his policies never favor them? It's time to call your congressman about Trump's big ugly tax bill.
Deflate Trump's ᗺig ᗺackassward ᗺoondoggle
https://kathleenweber.substack.com/p/trumps-ig-ackassward-oondoggle/comments
As Paul Waldman recently put it:
“ Republicans Hate You
That's it - that's the message.”
https://paulwaldman.substack.com/p/republicans-hate-you
On the one hand we strive relentlessly for efficiency and profits - through large scale mechanization and large corporate farms in agriculture and robotics and AI in manufacturing - and decry, on the other hand, loss of jobs in these sectors. And the sop we offer in exchange is tariffs. The national psyche ought to have its head examined.
Doesn't the evidence suggest that there IS more that the President can do to lower prices, namely blackmail? He can threaten Walmart with investigations and official harassment that will cost more to them than lower prices would, thus incentivizing them to lower their prices. Just because you didn't think this was something the President *should* do, when you were in the administration, doesn't mean it's not something the President *can* do, as he's now doing.
My impression at the time Biden brought up “price gouging” was that it was mostly performative, I.e., bonding with voters, and he didn’t really think it would make a difference. On the other hand, my impression is that Trump actually thinks bullying retailers will work. After all, he managed to bring some colleges and law firms to heel with bullying, as well as the entire Republican leadership, so why not?
Trump has backed down against pusback several times. People are essentially going to tell him to fuck off now. He's been exposed and everyone knows "he doesn't have the cards."
Maybe someone should remind the President that we are a capitalist economy, not North Korea.
We've always been a hybrid, and if Trump wants to move us toward the North Korean model, he's got lots of levers to do that.
Thanks so much for the shout out, Jared!
I agree. But I was talking about what’s INSIDE his head.
D has defied common wisdom in using his powers of the Presidency. Just as universities, law firms, political parties, media outlets, et al have acquiesced to his will....I fear so will a segment of the commercial world. Then we have fascism, correct??
Love the closing.
And yes, he did it himself. The Trade War thing was an own goal and NOT what the oligarchs wanted from him.
His job was to ram through a tax cut extension AND cut deeply enough into entitlements so as to maintain US$ stability.
But he's not doing that either. Spending is still rising and taxes are cut even further in the bill that just cleared committee.
Tough to sell 30 year Treasury Bonds at anywhere near current yields when the CBO project the debt to GDP ratio hits 220% in 2055 (and that's based on a fairly optimistic growth forecast).
Liquor industry reports higher sales and expects this trend to continue. WHY? Prices are higher and drinkers are choosing better brews and spirits. They want to pay for better taste. So they pay more; drink less; and it enjoy it too. Consumables shod be much more expensive. Why? LOOK at the bodies.