(CNBC) Goldman stands by call that consumers will bear the brunt of tariffs after Trump blasts bank’s economist

[Airyaman]

Republicans prior to Trump: Government should not interfere in private business!
Republicans during Trump: Private business answering to government is a good thing!

 

[Kushinator]

Not just any financial crime. Goldman Sachs set its own clients up for financial failure and in so doing very nearly caused a total collapse of the entire financial system.

This is false.

 

[ModernDiogenes]

Simple Facts: Tariffs are business expenses. Profit is the money made over and above business expenses. Business doesn’t make money selling something for less than what it costs them to bring it to market.

Businesses track their expenses and set prices based on estimates of what the market will bare in response to what they are trying to sell that marketplace, but regardless of what the market will bare, again, they aren’t going to stay in business long if they sell it for less than it costs them to bring it to market.

If bottom line expense to bring the product to market increases they increase the price of the item(s) to the end consumer, as if they don’t they stop profiting from its sale. Profit is the reason businesses exist. If profit goes away, and again, the business fails.

Coincidentally, when the prices go up to make up the differences in business expenditure to bring the product to market, it drives up the cost of everything else connected with it, directly and indirectly, in this effect called “inflation”. Which is what it’s called when everything starts costing more and our currency buys less than it did before.

Now, I don’t understand why MAGA folk don’t DISCERN these very fundamental business and economic principles but evidence suggests they don’t. Which is why they don’t DISCERN that tariffs cost them in the final analysis. Even if they don’t purchase the products involved. They think business just absorbs the additional expense.

Another Simple Fact: We’d all be better off if MAGA folk DISCERNED better, but…

 

[snakestretcher]

What it going to take for Trump supporters to realize what he's doing? I bet over 2/3rds of them still think the manufacturing country's are paying the tariffs.

They aren't bright enough to figure it out. A brief examination of the history of tariff imposition would have told them tariffs always fail, and invariably rebound onto the imposing nation; in this case the US and the US consumer. Trump is such an idiot; clearly believing tariffs are a source of free money for America, with no negative consequences.

Trump's tariff plan has been tried before. It failed

Like Donald Trump today, British Conservatives also hoped that tariffs would solve problems closer to home. They didn't

www.spectator.co.uk

Trump’s tariffs: Disregarding lessons from history and scenarios and probable outcomes

History is full of evidence that tariffs harm economic performance. This column assesses the two waves of globalisation in modern history and how they were interrupted by barriers to trade. The first wave started in the mid-19th century and lasted until WWI, while the second wave started after...

cepr.org

Tariffs and trade wars: here’s what Trump is failing to learn from the Great Depression

The Great Depression proved that protectionism and high tariffs don’t work.

theconversation.com

 

[snakestretcher]

Post #7

In other words, @Napoleon seems to believe it's fine and dandy that the POTUS publicly assails an employee of a private corporation. The President's reason for this personal attack? The employee pointed out an inconvenient consequence of trump's tariffs.

Yes, and who would know better than one of the oldest established (1869) and well respected financial institutions in America? Given their high visibility and public profile it's no wonder Trump is seething with embarrassment. How dare they contradict the very stable genius who bankrupts casinos? They must have got a great laugh out of that.

 

[ModernDiogenes]

Another Simple Fact: We’d all be better off if MAGA folk DISCERNED better, but…

Not just in these business and economic issues, but in that character and ethics are even more important than stated ideology in the selection of leaders.

 

[Mike1950]

Not just considering Trump based only on his tariffs but on all aspects of him, ask various AI to assess him and his effect on the world based on Game Theory. For one thing he is willing to sacrifice total benefits to the world and to the US in particular because he sees everything from the standpoint that winning is beating the other guy even if it means you do worse than you would have with cooperation. He sees everything as a zero sum gain as apposed to greater benefits for all by cooperation. An assessment of him in light of Game Theory gets really scary in its assessment of where he will eventually lead our country and the world in general.
Then ask AI if Trump uses similar strategies as a Psychopath would in a Game Theory assessment of him. Not asking for a diagnosis but just a comparison of behavior since you can't diagnose it with just Game Theory.

 

[ModernDiogenes]

Not just considering Trump based only on his tariffs but on all aspects of him, ask various AI to assess him and his effect on the world based on Game Theory. For one thing he is willing to sacrifice total benefits to the world and to the US in particular because he sees everything from the standpoint that winning is beating the other guy even if it means you do worse than you would have with cooperation. He sees everything as a zero sum gain as apposed to greater benefits for all by cooperation. An assessment of him in light of Game Theory gets really scary in its assessment of where he will eventually lead our country and the world in general.
Then ask AI if Trump uses similar strategies as a Psychopath would in a Game Theory assessment of him. Not asking for a diagnosis but just a comparison of behavior since you can't diagnose it with just Game Theory.

Because Trump is a professional con man who sees “winning” as remaining one step ahead of the results of “losing” (paying the consequences for his actions).

Those with criminal mindsets can’t help but see the world in such terms.