Lord Dampnut's trade policy a success. the balance of trade number this month was the highest in 10 years. Services didn't do badly but exported goods went in the dumper. This is certainly partially due to the strong dollar and its weakening soon seems inevitable. Inflationary?
Is there an adult at the wheel or is Preznit Toonces driving? Has anything come of his tariff fiasco (anything good)? Read that he's threatening India now.
Donald Trump has waged a trade war unlike any the United States has seen since the 1930s, upsetting our global allies and panicking markets as he’s gleefully slapped tariffs on steel and Chinese products.
And by just about any measure you pick, his effort appears to have been an absolute flop.
Consider the trade deficit, which Trump has promised to shrink. On Thursday, the Commerce Department reported that it actually grew by $68.8 billion in 2018, reaching $621 billion, as imports continued to outpace exports. In December, the monthly gap hit a 10-year high. The timing of the announcement was almost poetic: It came just over a year after Trump tweeted that “trade wars are good, and easy to win.” As he is learning, they are not.
Because the president is obsessed with manufacturing jobs, the White House likes to focus on the trade deficit in goods alone—ignoring the contributions of services like finance and education. But on that score, its performance looks even worse. The goods gap soared to an all-time high of $891.3 billion last year. It grew with China. It grew with Mexico. It grew with Canada. Like Wile E. Coyote with a box of ACME dynamite, Trump tried to blow up the global trade order, and instead came out looking like a used matchstick.
Time to give Bernie Sanders a shot. He also opposes job killing free trade deals. Although, after tRump's failure, I fear that it will be back to business as usual. "tRump proved that not destroying good paying blue collar manufacturing jobs doesn't work. We need to get into the TPP ASAP"... the next president may declare. Democrat or Republican.
THaEJDS, there are many things about Bernie that I like, but I'm afraid he's just too old to take on the burdens, frustrations, stress, and soul-eating work of the presidency. I hope what he'll do is influence whoever the Democratic nominee is.
My second choice, Elizabeth Warren, is (at 69) not that much younger. For his age Bernie Sanders (at 77) is obviously quite energetic. Unlike the too old tRump he doesn't need to snort Adderall. BTW, tRump (who will be 74 if he is "elected" to a 2nd term) is obviously covering up the fact that he is in poor health (given his two fake physicals since becoming predisent).
5 comments:
Lord Dampnut's trade policy a success. the balance of trade number this month was the highest in 10 years. Services didn't do badly but exported goods went in the dumper.
This is certainly partially due to the strong dollar and its weakening soon seems inevitable. Inflationary?
Is there an adult at the wheel or is Preznit Toonces driving?
Has anything come of his tariff fiasco (anything good)? Read that he's threatening India now.
From Slate:
Donald Trump has waged a trade war unlike any the United States has seen since the 1930s, upsetting our global allies and panicking markets as he’s gleefully slapped tariffs on steel and Chinese products.
And by just about any measure you pick, his effort appears to have been an absolute flop.
Consider the trade deficit, which Trump has promised to shrink. On Thursday, the Commerce Department reported that it actually grew by $68.8 billion in 2018, reaching $621 billion, as imports continued to outpace exports. In December, the monthly gap hit a 10-year high. The timing of the announcement was almost poetic: It came just over a year after Trump tweeted that “trade wars are good, and easy to win.” As he is learning, they are not.
Because the president is obsessed with manufacturing jobs, the White House likes to focus on the trade deficit in goods alone—ignoring the contributions of services like finance and education. But on that score, its performance looks even worse. The goods gap soared to an all-time high of $891.3 billion last year. It grew with China. It grew with Mexico. It grew with Canada. Like Wile E. Coyote with a box of ACME dynamite, Trump tried to blow up the global trade order, and instead came out looking like a used matchstick.
Time to give Bernie Sanders a shot. He also opposes job killing free trade deals. Although, after tRump's failure, I fear that it will be back to business as usual. "tRump proved that not destroying good paying blue collar manufacturing jobs doesn't work. We need to get into the TPP ASAP"... the next president may declare. Democrat or Republican.
THaEJDS, there are many things about Bernie that I like, but I'm afraid he's just too old to take on the burdens, frustrations, stress, and soul-eating work of the presidency. I hope what he'll do is influence whoever the Democratic nominee is.
My second choice, Elizabeth Warren, is (at 69) not that much younger. For his age Bernie Sanders (at 77) is obviously quite energetic. Unlike the too old tRump he doesn't need to snort Adderall. BTW, tRump (who will be 74 if he is "elected" to a 2nd term) is obviously covering up the fact that he is in poor health (given his two fake physicals since becoming predisent).
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