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Happy Tariff Day Americans (1 Viewer)

Trump warns Americans that tariffs may cause 'pain'​

 
Though I hate seeing my American friends suffer, I really do hope this hits hard and that it won't take long for this stupidity to end.
No. Americans, especially the ones that voted for Trump, are under the believe that they are at war against everyone. They believe America can do it better and be self-sufficient.
 
What, exactly, do we want them to say Uncle over? I must have missed a memo somewhere... I don't see any sense in this.
Don't look for sense where there isn't any.
 
Trump should be impeached for the sheer stupidity of inciting bad relations.

More drunk snowmobilers cross the border in a week than a year full of illegal immigrants.
Ah gawd! Been there done that - BOTH WAYS! 😆
 
Trump's tariffs take effect today. Here's what you'll pay more for...

Well, look at the bright side. With NASDAQ futures set to open tomorrow morning down 500 points, Trump is doing his part to remedy the wealth gap. 🙂

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Just be patient, traders. Increase those stop-loss circuit breakers. 👍
 
I dunno, are you?

Theres still tons going in from Canada, plus lots of migrants too, and Trump has vowed to put a stop to it.
Utter bullcrap as confirmed by American agencies.

Do you not even bother to research your own governments published stats? Trump is simply lying - for the twelve thousandth confirmed time.
 
Theres still tons going in from Canada,

No there isn't.

plus lots of migrants too, and Trump has vowed to put a stop to it.

Canada has a better case than Trump with regards to the Border, and even if he did making Americans pay more for Canadian good isn't a sensible response.
 
Utter bullcrap as confirmed by American agencies.

Do you not even bother to research your own governments published stats? Trump is simply lying - for the twelve thousandth confirmed time.
No, its the truth. Trudeau and China is orchestrating this huge shipments of drugs and migrants. They want to destroy America, but Trump wont let them/
No there isn't.



Canada has a better case than Trump with regards to the Border, and even if he did making Americans pay more for Canadian good isn't a sensible response.
No, thats not true. Huge numbers of illegals and drugs are pouring through, and the mounties just stand there like idiots and even guide them in.
 
No, thats not true. Huge numbers of illegals and drugs are pouring through, and the mounties just stand there like idiots and even guide them in.

That isn't true by any definition.

Flow from Canada counts for less than 1% of the illegal immigration and drug trafficking.

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Well, look at the bright side. With NASDAQ futures set to open tomorrow morning down 500 points, Trump is doing his part to remedy the wealth gap. 🙂

View attachment 67554151

Just be patient, traders. Increase those stop-loss circuit breakers. 👍
This is a special breed of stupid. Crashing the economy doesn't address the wealth gap. How does this help the poor and middle class?
 
I wrote out my tariff check last night... where do I send it?

Or did I waste the paper?
 
This all seems like an economic suicide. Voters voted for Mr. Trump to improve upon Mr. Biden's economy, not make it worse.
Nah, they didn't. They got rage duped by a television channel and a bunch of internet nonsense.
 
What in Canada's history makes you say that.

You've lost every war with us, shooting type or fiscal.

But please, save the ****ing whining when we countervail.
You have to remember that most Americans don't have an adversarial view of Canada. Many of us detest nazis / regressives and tried to prevent them from taking over.
 
Agree completely but there's a few people around here I'll enjoy seeing paying a buck a gallon more to fill the tank of their car that cost 25% more.
I hate to say this, but Trump will pummel Mexico and Canada until they get some real leaders. Trudeau needs to go! He's an authoritarian menace. Canadians are freedom-loving people just like us.
 
This is a special breed of stupid. Crashing the economy doesn't address the wealth gap. How does this help the poor and middle class?

It doesn’t. And if the NASDAQ going down doesn’t help the poor and middle class, how does it going up, thus increasing the wealth gap, hurt them? That was the point. 🤓

The reason there is a record wealth gap is wealthy people own assets like stocks and real estate that have been inflated and reflated to absurd levels since they bottomed in the wake the GFC, while poor and middle-class people depend on wages, pensions, disability, or welfare benefits to support them. A simple truth is depending on wages or government benefits for your well-being is a great way to get poor slowly, because historically they have not kept up with the rising cost of living.

By almost any measure, assets are overpriced, and simple statistical concepts like mean reversion and standard deviation suggest they’re vulnerable to a price reset—down. I mean, think about it. Who can afford a house priced at 8, 9, or 10-times income? Some could when they could get a 30-year mortgage at 3%. Not too many can at 7%. That’s why sales are at 30-year lows, not an easy feat when one realizes there are more people in the country than there were in 1995.
 
It doesn’t. And if the NASDAQ going down doesn’t help the poor and middle class, how does it going up, thus increasing the wealth gap, hurt them? That was the point. 🤓

The reason there is a record wealth gap is wealthy people own assets like stocks and real estate that have been inflated and reflated to absurd levels since they bottomed in the wake the GFC, while poor and middle-class people depend on wages, pensions, disability, or welfare benefits to support them. A simple truth is depending on wages or government benefits for your well-being is a great way to get poor slowly, because historically they have not kept up with the rising cost of living.

By almost any measure, assets are overpriced, and simple statistical concepts like mean reversion and standard deviation suggest they’re vulnerable to a price reset—down. I mean, think about it. Who can afford a house priced at 8, 9, or 10-times income? Some could when they could get a 30-year mortgage at 3%. Not too many can at 7%. That’s why sales are at 30-year lows, not an easy feat when one realizes there are more people in the country than there were in 1995.
MAGA nonsense. ^
 
The name of this website is “Debate Politics.” That’s not an argument. Then again, I’m not surprised. The only arrow in the leftist quiver is ad hominem.
Your ideas are an incoherent rambling mess. Its not a valid argument.
 
With NASDAQ futures set to open tomorrow morning down 500 points, Trump is doing his part to remedy the wealth gap.
Most significant losses will be realized by middle class Americans who hold investments as part of their retirement portfolios but who lack the information, resources and agility to move their assets in real time to avoid these sorts of losses. The money lost is benefiting the very wealthy. Don't kid yourself.
 
Flow from Canada counts for less than 1% of the illegal immigration and drug trafficking.
I herad a stat, and while I have not confirmed it, it said that 43lbs of Fentanyl was sized coming from Canada last year. There's a guy in a car crossing the border from Mexico into the US, right now, with that much in his pants. Not to mention the containers offloading on the port of LA, where most of the drugs come from, with tons more. But let's shore up that northern boarder first. :rolleyes:
 
Most significant losses will be realized by middle class Americans who hold investments as part of their retirement portfolios but who lack the information, resources and agility to move their assets in real time to avoid these sorts of losses. The money lost is benefiting the very wealthy. Don't kid yourself.

The total market capitalization of the U.S. stock market is roughly $62 trillion. Foreigners hold about 40% of that, or $24.8 trillion. The top 10% of American households control north of 90% of the remainder. That includes the Mark Zuckerbergs, Elon Musks, and Jeff Bezoses. These households also own about 70% of the $52 trillion value of residential real estate in this country. There’s your wealth gap. If prices for these assets decline, the gap will narrow. 🤷‍♂️

Of course, let me note that a loss is only realized when an asset is sold. People like Bezos would only have theoretical paper losses from a market peak, because his cost basis is virtually nothing since he founded Amazon. If he decides he wants a new $500 million yacht or needs to sell for estate planning purposes, he’ll sell shares. Otherwise, he’ll stand pat. Boomers have the highest percentage of generational wealth in stocks, especially concentrated in a handful of large-cap domestic stocks represented in the S&P 500 and the NASDAQ 100, than at any point in U.S. history. Some of these people sat out much of the rise in stock prices following the GFC, arriving late to the party. If history is any guide, the people who will lose will be those throwing caution to the wind now and are not properly diversified among asset classes and levels of risk but who will once again become nervous nellies and bail at or near a market bottom.
 
The top 10% of American households control north of 90% of the remainder.
Sure, but let's look at total net worth of the bottom 50%:

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45% of a person net wealth is in their home, I don't have a statistic handy, but I'd be willing to bet that number is 80%+ for the bottom 50%.

See how low total net wealth dropped in 2011? That's the result of all the homes lost by this group in the wake of the GFC.

If the economy crashes again, thanks to things like tariffs, jobs will be lost and again, this group will lose their homes in defaults and guess who will be there to buy them for pennies on the dollar? The same group of people you think will be hurt by a loss of "on paper" wealth as the ultra wealthy loose unrealized income. The loss of wealth is a combination of loss of assets and increase in debt.

If prices for these assets decline, the gap will narrow.
No, it won't, it will create a situation where people in the bottom 1/2 of the economy lose value in whatever assets they have, will be more likely to sell off what little opportunities for real wealth (stocks, bonds, index funds ect) they have and more likely to be forced into debt.

Mean time, the top 10% may loose some money, and potentially a TON of money, but because they still have wealth, they can use it to reposition themselves by buying up assets liquidated (like stocks, real estate and other real wealth) by those that cannot hold on to them and are forced to sell, which the wealthy will buy at lower cost and will sell later when the economy recovers. Which is why more US households rent than at any time in the last 50 years

Here I indexed wealth so they could be shown relative to each other, post 2008 wealth inequality increases. Biden's policies decreased it.


fredgraph.png


Now if we look at the same chart, but in real terms we get a sense of the actual, growing, disparity....

fredgraph.png

Pushing down wealth is not going to help wealth disparity, it will make it worse.

If you really care about reducing disparity, you'd support providing the tools to the bottom 50% that would allow them to reach their potential, free/ low cost healthcare, housing, childcare, utilities and education and allowing workers to collectively bargain. You also support removing money from politics by eliminating PACs (legal bribery), limiting donations, and getting rid of stupid ideas like Citizens United and lastly, increasing taxes on the very wealthy and closing the unbelievable loopholes for this group that allows them to show losses, gift money, and avoid taxes.


If he decides he wants a new $500 million yacht or needs to sell for estate planning purposes, he’ll sell shares.
Unlikely, as long as he can make a higher expected rate of return on his investments than any interest rate he'd pay, which would be unusually low, sometimes below what a bank is paying he would just borrow. Not to mention that even if the rate were a little higher (historically this doesn't happen much) than his expected rate of return, by not selling his shares and borrowing instead he avoids income tax on the money he uses to buy his yacht. Then, as payments come due he can pay for the yacht with earned income, or strategically sell assets at a time best for himself (like a year he takes losses) to limit his tax liability.
 

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