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Trump's Effect on the Economy To Date

jpn

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  • Volvo is cutting 800 jobs at three U.S. factories, citing tariff uncertainty.
  • The Philadelphia Manufacturing Survey is plunging, signaling extreme pessimism among U.S. manufacturers.
  • Howmet Aerospace, a major aircraft parts manufacturer based in Pittsburgh, has declared that it may halt production due to Trump’s tariffs.
  • The April NY Manufacturing Survey is recording some of the most negative conditions that it has ever recorded, with new orders and shipments falling off a cliff:
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None of this was unexpected by mainstream economists. Broad tariffs of the type Trump has imposed raise the price of imported components and make U.S. manufacturers less competitive.
And on top of the effect of the tariffs themselves, uncertainty about future tariffs — which has spiked to record levels under Trump — hurts manufacturing even more, because manufacturers don’t know how to plan their future supply chains.

 
He's making not just us, but the whole world poorer. Whatta guy.

 
He's obviously trying to destroy it.
 
CNBC is saying this afternoon there is little interest in getting back in the market. Why? Because Trump has no plan for anything. AI will not come back with any velocity as well. The pros are saying this, not me. I would love to wiggle back in but how can I with the scatter brain freak is playing pickle ball with no pickle. No investor can be certain of anything Trump says much like he has been doing since day one.
 

Oh, some investors can. You just need to be in the club.

 
Jobs are beating expectations real jobs not government jobs, inflation is down food and energy is down, 7 trillion is being invested in manufacturing, the world is caving to Trumps Tariffs and will pay a 10% kickback and give us access to their markets. Looks good to me
 
So air traffic control isn't a real job? The Coast Guard and the Air Force aren't real jobs? Teachers don't have real jobs? Researching cancer cures isn't a real job? Auditing potential tax cheats isn't a real job? The FBI isn't a real job? Police officers and firefighters don't have real jobs?
 
Government jobs are a cost basis that means we pay for them with printed borrowed money. A private sector jobs is wealth based it adds wealth. Biden created a massive expansion of the government and we got inflation that crushed the middle class. There is apoint when the government becomes so large it collapses the economy. Of course some jobs are need by the government thats not the point. We have too many and need to cut them.
 
The stock market's been going up alot lately.

Which means Trump will soon come out to crash it again with talks of more tariffs on somebody.
 
Of course that's the point. That's the point that Elon Musk found out about when he started randomly cutting some of those "too many" jobs and was confronted with the fact that there are very, very truly excess jobs in government, since everyone is always quick to cut government to try to balance budgets.

So cut school teachers. Cut police. Go ahead. Cut IRS auditors and watch gov't revenue dry up. Cut nuclear engineers at the Dept of Energy--after all, all they do is watch over our nuclear stockpile and clean up toxic waste at old reactors.

Cut away, cut away!

Oh yeah, what does any of this have to do with Trump's effect on the economy?
 

Walmart warns it will raise prices within weeks because of tariffs​

Walmart warned Thursday that price increases look certain — possibly within weeks — underscoring that even the world’s biggest retailer is not immune from President Donald Trump’s trade war.
National brands as disparate as Adidas and McDonald’s have signaled that the White House’s tariff campaign could raise prices, stymie supply chains and push inflation-battered consumers to a breaking point. But analysts have taken the view that Walmart is somewhat insulated to the shifting trade winds because the bulk of its revenue comes from groceries, much of which are sourced domestically. Plus, its growing appeal with high-income shoppers could allow it to pass on some costs while holding the line on essentials.
 
Is Trump's trade war over? No.

The current average tariff rate is now 16.4%, the highest since 1937. And since international trade is now a much larger share of our GDP than back then, the impact is also much larger.

At the current rates, Trump’s tariffs, following last weekend’s retreat on China, are expected to cut overall U.S. trade by roughly 50 percent. Trade with China, at the new 30% rate, should fall by around 65 percent.

Cutting U.S. trade with the world in general by half and reducing trade with China by two-thirds is a massive disruption of the world economy, and will hit the lowest income earners the hardest.


This is because:
1) Low-income households spend a higher fraction of their income.
2) Poor and working-class families spend more on goods, which are facing tariffs, as opposed to services, which aren’t.
3) Goods whose prices will rise most tend to be items like clothing that loom large in lower-income families’ budgets.

And into the teeth of all this, the Republicans are planning a massive tax cut that overwhelmingly benefits the rich.
 
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