BREAKING:
DETROIT, April 3 (Reuters) - Stellantis NV, maker of Ram trucks and Jeeps, said on Thursday it was temporarily laying off 900 workers at five U.S. facilities after President Donald Trump's tariffs were announced.
YAHOO FINANCE NEWS: "Trump's first 50 days mark one of the worst starts for the S&P 500 under any presidency
The Trump 2.0 stock market is off to one of the worst starts of any presidency since 1950.
New data crunched by SunDial Capital Research strategist Jason Goepfert on Wednesday shows the market's response to President Trump since the inauguration is among the bottom of all presidents since 1950.
In the first 50 trading sessions since Inauguration Day, the S&P 500 (^GSPC) has dropped about 6.4%.
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Trump just imposed, by executive order, the single largest tax increase on consumers in American history.
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Making America Poor Again (MAPA)
Might as well figure game over for the USA. Until the Orange Felon Jackass and his lackeys are gone for good.
Making America a fool on the national stage again the FOTUS admin imposed a 10% tariff on the Heard and McDonald Islands, external territories of Australia and inhabited only by penguins. Per the Australian prime minister "Nowhere on earth is safe".
Obviously when the boss says tariff the earth (except for his fave, Russia Russia, Russia) you tariff the earth. What a maroon.
This is for skud who has repeatedly called me out for my "obsession" with the "nothing burger" that is, was, and shall ever be known as Russiagate. Here's the question, if the FOTUS wasn't in cahoots with Putin why didn't he impose a tariff on Russia? Kind of glaring that it's the ONE nation not covered. I mean, imposing a tariff on penguins kind of gives away the game skud. Looking forward to your master class of moving the goalposts, the "I never said that", or my favorite, Whataboutism.
Listen, those penguins have been ripping us off for years with their unfair tariffs. No one noticed until now, because they’re wily little critters who’ve been taking unfair advantage of the US forever!!
Some are all giddy over the Felon of the USA's trade war. On The Mothership of Ignorance and Stupidity they're all in with his insanity and hateful proclivities.
Can't wait to read their positions when the insanity of tRump hits their homes where it hurts. Trump is an idiot and their cult loyalty blinds them to truth and reality.
Smoot-Hawley is the early 20th century law seen by many as primarily responsible for prolonging the Great Depression. It was heavily focused on protecting US industry and jobs through tariffs on more than 20,000 imported goods. Countries quickly retaliated and our exports and imports quickly cratered.
In the spirit of the Sunday Moment of Zen, I offer this, the "Thursday Moment of Zen" as a comment on the theme of the day... tariffs.
It's part of May 1986 radio address by former President Reagan addressing the urging by many Congressional leaders to impose quotas and tariffs on our allies in Europe and others around the world.
Here's part of what he said...
"... we [The G7 Leaders] agreed last May at the Tokyo summit to improve economic policy coordination. In that spirit, we've been urging others, especially those with large trade surpluses, to adopt growth-oriented policies at home, enabling their citizens to buy more American products and other imports. The answer to our trade balance problem is not to close our markets, cut imports, or collapse trade. Millions of American jobs are tied to imports. The way to a better life is to open markets now closed, improve trading conditions, and to expand our exports. We learned that lesson half a century ago when we tried to balance the trade deficit by erecting a tariff wall around the United States. The Smoot-Hawley tariff ignited an international trade war and helped sink our country into the Great Depression.
I did not agree with a lot of actions of the Reagan, but on this, he was right. As was Nixon when he brought down trade barriers in China. We live in an integrated international world and economy. People, materials and finished goods cross borders on a daily basis. Any US administration or group of political supporters that does not understand this is not for America first.
It's for America alone... and last. The world is safer when America is respected, believed and trusted. The world is safer when America leads. And America is stronger, safer and better economically when we are respected, believed, trusted and leading.
President Reagan and his administration understood that.
Trump?
Putin's inside man and "stable genius" who bankrupted a casino is sabotaging the economy.
Stellantis NV, the maker of RAM Jeeps, will be temporarily laying off more than 900 employees today because of Donald Trump's tariffs.
The Dow is DOWN over 3.5%.
S&P DOWN 3.86%
Nasdaq DOWN 4.77%
Are we tired of winning yet? Maybe MORE tax cuts for billionaires will fix everything, amirite?
The blame for this carnage is squarely on the backs of everyone who voted for Trump! Every economist has told Trump that tariffs are BAD for the economy, and Trump, who had 6 bankruptcies -- CASINOS! instigates a global trade war.
The markets are tanking! Everyone in this country will be affected by this madness.
A bunch of drunken morons -- including those who voted for Trump -- did this!
Interesting that Shaw's normal conservative posters are so silent on this. Where's skudrunner about how awful Biden's economics were for the country! Is he happy now?
Dave, So now Reagan is smart, who knew you would take that opinion but good for you. I have never seen the reason for raising tariffs above what the other countries charge us but I am also against corporate taxes on products produced as well. All taxes and tariffs are passed on to the consumer so prices will rise. Rising prices will mean less consumption so less production which means fewer jobs. Seems to be self defeating.
WaPo: "Trump’s speech announcing a huge increase in tariffs on American trading partners was riddled with falsehoods and misleading statements on trade that he has made for years. But now they are determining policy that will increase the costs of goods for many Americans. Here’s a quick sampling, in the order in which he made them. We’re sure we missed some — and some claims still require more checking.
“For years, hardworking American citizens who were forced to sit on the sidelines as other nations got rich and powerful, much of it at our expense. But now it’s our turn to prosper and in so doing, use trillions and trillions of dollars to reduce our taxes and pay down our national debt.”
This is exaggerated. In Trump’s telling, the United States is a poor country, beset by outside forces. Not only does the U.S. have the largest gross domestic product in the world, but its per capita GDP is much higher than any large country. For instance, GDP per capita in the U.S. is nearly $90,000, compared with $14,000 for China, $58,000 for Germany and $36,000 for Japan.
Tariffs are in effect a tax increase, one that falls heavily on lower-income workers. Economists agree that tariffs — essentially a tax on domestic consumption — are paid by importers, such as U.S. companies, which in turn pass on most or all of the costs to consumers or producers who may use imported materials in their products. As a matter of demand and supply elasticities, overseas producers will pay part of the tax if there are fewer goods sold to the U.S. Domestic producers in effect get a subsidy because they can raise their prices to the level imposed on importers."
Almost all economists are outraged at Trump's fake chart, which was based on
his own 'experts'. Wanna bet he flyfishes with dynamite?
Here are the sailors on the Mother Ship gleefully wishing harm on our European allies:
"...considering how foreign countries have milked the U.S. economy, will lose that advantage, and face their own economic problems, I’d rather see them hurting them us."
Captain of the Mother Ship: "And yes, I’d rather see THEM hurting than US, too!! And I think that’ll be the case."
"I’ll bet the Canadians are a little bitchier than usual these days!! I don’t have time now, on my way to Bible study, but I THOUGHT I saw some headline saying something about Canada NOT getting the tariffs expected? Did I read that wrong?
She's on her way to Bible study, at the same time reveling in people's pain!
They have the same mentality of victimhood, whining, and revenge that their idol, Trump has. They are the reason the stock market is killing Americans' retirement savings, and people like the sailors on the Mother Ship couldn't be happier. They believed a liar, cheat, fraud, felon, and sexual assaulter, rather than the people who understand economics.
And here we are.
"Against stupidity the gods themselves contend in vain."
Notice that skudrunner, -FJ, Joe Conservative, Thersites, and the WYD crowd are eerily silent.
Ms. Shaw, Since you have to approve all posts I am surprised you would say I am silent. Did you not read my post or are you just attacking me for no reason. I don't believe you are indiscriminate in your attacks so I will take it was just an over-site.
We survived far worse with incompetent presidents carter and biden and we will survive trump. It may be a rocky few months but not near what we faced the last four years with the biden shadow government.
Proof has come out that he was incompetent during his entire term so who would you guess was running the country?
WASHINGTON—Today, the House Committee on Oversight and Accountability held a hearing titled “A Legacy of Incompetence: Consequences of the Biden-Harris Administration’s Policy Failures.
A LEGACY OF INCOMPETENCE: CONSEQUENCES OF THE BIDEN-HARRIS ADMINISTRATION'S POLICY FAILURES
“First sitting President in US history to be declared legally incompetent to stand trial,” From the Hur report
She's on her way to Bible study, at the same time reveling in people's pain!
She just saw a news clip from tim walz celebrating the decline of tesla stock which the minn retirement system owns.
skud, I made my comment about your silence before I saw you comment in Comment Moderation. My error.
You cannot keep saying that "we survived worse...with Biden." Because at no time did Biden cause A TRILLION DOLLARS IN STOCK MARKET VALUE in addition to tanking worldwide markets. So. Your continual harping on that inaccuracy is nothing more than an expression of your partisan hatred of Biden.
If you think for one minute that Trump is "in charge" of what he's doing to our country AND THE WORLD, you're more invested in Trumpism than I thought.
We are witnessing the Heritage's Project 2025 in its entirety -- the one Trump lied and said he knew nothing about. As soon as Trump was sworn in, the wreckage to our economy and American government began. Preceded by his December nomination of a pedophile who had drunken druggie parties while in Congress as his choice for Attorney General of the United States.
Biden in his decline wasn't even CLOSE to doing what the lying liar Trump has done to our country. The whole world knows it. The only people applauding his carnage are those blinded by their partisanship and allegiance to a convicted felon and sexual assaulter.
Former President Biden left the US in damn good economic condition; and as is usual with Republicans, they're wrecking the economy AGAIN.
How many times do we have to suffer under incompetent GOP presidencies until the lunkheads in Washington and GOP voters learn their lessons?
Errata: That should read "A TRILLION DOLLARS LOSS IN STOCK MARKET VALUE.
Yahoo Financial News: "O’Leary was referring to a report from the Minnesota State Board of Investment, which showed that the state’s retirement fund held 1,615,511 shares of Tesla as of June 30, 2024, while its non-retirement fund held 211,332 shares. It’s unclear whether these positions are still in the state’s portfolio."
BTW, skud. They called him "Sleepy Joe" because we were able to sleep well at night knowing our retirement funds wouldn't tank and leave us wondering if we'd be able to live independently for the rest of our lives.
Trump has ruined that for many folks like me.
We should all remember this: After tanking the economy -- that was just fine under Biden -- and after watching the markets lose A TRILLION DOLLARS IN VALUE, Trump flew, on taxpayers' dime to Mar-a-Largo (it's only Thursday) for a long restful weekend of golf, while the rest of us peons worry about how we'll survive his stupidity and incompetence.
Nice Skud... slam Shaw for not getting to your comment sooner and assume the worst. Par for the course Arnie...
Quoting Mel Brooks as King Louis XVI in the History of the World, Pt 2...
"It's good to be the King... Pull!"
Reagan would be booted out of the Party of Trump today. Just his position on AK-47s having no legitimate purpose would sent him packing,
There he goes again. Shilling for Trump by saying Biden and Carter were worse.
"We survived far worse with incompetent presidents carter and biden and we will survive trump."
He won't say anything negative about what Trump left Biden or positive of what Obama left Trump.
We all know why.
Now he's singing the Trump tune that everything will soon be just fine. Trump will make America great. Even if it means invading Greenland, Panama, and Canada. Just don't compare Trump's dictatorial ambitions to Hitler.
Mel Brooks was great and his writers were even better. As to my hatred of biden you are not representing my beliefs but I really didn't expect you to. I had nothing against biden except the fact that he was incompetent from day one and the left and MSM covered it up, great American lie. Falling asleep during meetings, losing his place on stage and multiple other things yet you and your buddies said he is just fine. He was against the green new deal and was a centrist until he took office then he swung way left and tried to destroy the middle class. He tried to destroy the American dream of work hard and prosper to sit back and we will take care of you. The last election should have proven a point that the American taxpayer is tired of an open border, buy an overpriced electric car or else and throwing money at pet projects like gender transformation and DEI or hire the least qualified.
Never been a trump fan and still am not but anything is better than where we came from. I won't try to make sense of his actions and won't try to defend him because I think his narcissism is out of control. Maybe trump is trying to tank the economy so it will come back and he can take credit for it, learned that from biden.
Biden was human like us. Trump, well I'm not sure - UFO alien? I'm waiting for
Mell Brooks Springtime for Trumpler.
Ignorance is absolutely alive and thriving in the Orange land of criminals and cons.
I was going to respond to skud's spin about how he really doesn't hate Biden (except everything up to this moment proves his animus), doesn't like Trump even though he's carried water and repeated verbatim every MAGA propaganda/talking point, and inability point on the Biden admin where they were harmed by their policies.
Here's a thought, Biden insisted folks who live in the USA be treated fairly, something that is just a river too far for skud. As their words illustrate they very much believe in the conservative mantra that there must exist a population who is bound by the law but not protected even as they enjoy the protection of the law while escaping the boundaries.
Yeah, skud, I'm not giving you the benefit of the doubt as you've displayed for all to see who you are. My adherence to practicing Universal love demands you are included in the love sharing but that doesn't mean I have to like or approve of you or your life choices. It's a little thing I've been working on in the Mental Health advanced classes called Radical Acceptance. Not easy kids but very much helpful to my brain.
I think I just leveled up to 5 - acceptance of what is and at total peace with it. Now to get into some very good trouble and change what I can and accept what I can not, at least for today. Good luck in your voyages this weekend. Stay frosty. If I'm going through some things so are others, many of whom have none of the mental health skills I posses so yeah, stay frosty and maintain situational awareness.
Grey, Glad to see your in a support group and it is working. Universal love was all the rage in the 60's that was called the free love movement. Everybody loved everybody. Now we have the political movement where it is all about politics. If you differ with someones views you are evil and need to be hated. Just because I may not like a positions you assume I don't like the person which seems to be the mantra for the DEI crowd. I have never met biden so I have no reason to dislike him as a person but I do disagree with his politics.
The evil one is doing what he said he was going to do and the reason people are in a rage is that is rare for a politician. His tariff idea didn't work in 1920 and it won't work in 2025.
Open borders didn't work in 2021 and it didn't work in 2024 but neither president will admit they are wrong because they are not allowed to.
Again Skud... plenty of ppl here have been openly critical of Biden, before, during and after his administration. What is it you want from us? We've essentially acknowledged all of his shortcomings and many said he was not our preferred candidate. We supported him as an alternative to the man you describe as an evil, narcissistic lunatic.
Seriously. We supported an aged, feeble guy not because we were in love with him, but because we believe in his staff. And when he dropped out, we supported his VP because we believed she would mostly continue, with a good staff, Biden's policies. The same policies that made our economy, according to many sources, including FOX News and the Wall Street Journal, the envy of the world.
Yet you persist in your BS. Why?
For crying out loud man... there is no cult of Biden here that is anywhere near what you see for Trump at Geeez, and from folks like -FJ, Joe Con and the other trolls you see at PE.
Why not ask those folks for some introspection? Why no go to Geeez, where you have commented, and throw some Trump snark while calling evil and a lunatic as you have here?
Why not go there and on every post add in that of course Trump is a liar?
Here's why... because they'd ban you.
And you get some perverse joy out of tweeking us.
Are you even able to enter into a reasonable conversation?
Well said Grey One!
I wish I could extend the same universal love to the unethical and immoral beings who brought us to where we're at with the FELON of the US. The best I can do is feel complete and total disgust for their wilfull ignorance in support of the monster in human form.
The only bright spot is tRump the ass approval has dropped to 43%, a sign some are waking up, belatedly. When and if it drops below 30% only then does this nation stand a chance of setting its path right again and beginning the recovery to sanity in government.
Until then? We're screwed.
Skud posited... "If you differ with someones views you are evil and need to be hated."
No Skud, you're not getting it, despite numerous examples and efforts from "our" side.
Ppl can hold differing views in the mainstream. They can even hold divergent views slightly outside the mainstream. I'm sure Shaw disagreed with Les when he supported Bush and sang the praises of Reagan, but she had no real animus towards him personally. I also doubt she saw him, or his views as tantamount to being harmful to America.
Politics is politics and everyone here understands elections have consequences and if someone is elected, things can change. But to expect a laissez faire attitude towards a "evil, narcissistic lunatic" who has a stated desire to "terminate part of the constitution", believes he can circumvent the 12th and 22nd amendments and among other actions, flouts the rule of law, is childish and uninformed.
You sound like someone who back in the day, might have supported Jefferson Davis or Robert E Lee in their calls to destroy the United States of America. You sound like someone who would have asked us to all get along had George Wallace actually got elected in 1968.
All three of those men rejected the very things that made America great, or different from the rest of the world.
It's the same with Trump. So maybe you are right, we do have a high degree of disgust for ppl who support him and his enablers in Congress [yes, this includes you], but this is beyond simple political differences.
This is about democracy, America and our future. And we can demonstrate, with actual evidence and facts, why we believe so.
Jan 6 is a good example. The anger of ppl was stoked by Trump. Then folks like, yes, you, fanned the flames by repeating the lie that the election was stolen by fraud, without showing any evidence.
Then when a group of ppl, more than 1000 actually, participated in riot acting on that lie, beat police officers, defaced and damaged the US Capitol, none of you called for arrests, trials and jail sentences for the guilty.
And all of your politicians went along, supported the people who participated, started and spread the lies that made it all possible.
It's not about politics Skud... it's about America. And it doesn't look like that means anything to you. Or J6 and the lie behind it would have caused you more anguish.
"support group" LOL Sure skud, whatever helps you get through the day. Not that there is anything wrong with support groups. That's where I started my Mental Health journey. Lots of good work there. But no, that's not what I'm doing right now. Less war stories and more applying skills to current events to see how one can improve future interactions without resorting to Hulk Smash. But I digress.
The only person who isn't free to say what they will skud is you and your fellow trolls. You keep thinking that because your side is party over Constitution that those who disagree with you and yours will do the same for the leaders over here. Gross miscalculation in evaluation skills as it's not about the ego or the person it's about the Constitution and can you get the job done.
Again with your crap about the border. Your point has been fact checked, Snoped, and Politifacted with the results posted here more than once and yet here you are full blown repeating lies and propaganda. How is it skud that you don't know how wrong you are? Well, I called you ignorant before, a label you got quite testy over and yet you didn't do the work to remove it, now did you? How you say?
An ignorant person doesn't know what they don't know. A stupid person knows they don't know (because they were informed of this fact) only they refuse to educate themselves.
Guess which one's attributes you're exhibiting now skud?
The memes have been epic. I haven't laughed this hard since, well, ever.
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