Trump's 'huge lie' shows 'he’s taking everyone for an idiot': analysis

[wombat]

3 hours ago, bendejo said:

 'huge lie'

 

Please...where have you been hiding?

That saying the bigger the lie the easier it is for people to believe,

you've never seen before?

[blaze master]

14 minutes ago, wombat said:

Pmsl...did you really say that?

 

I know right. He must if grown up in a middle class family. 

[simple1]

14 hours ago, Yellowtail said:

The domestic industries that benefit from tariffs, are generally the ones that are in direct competition with the imported products, not manufacturers that are using the product in a process, take steel for example. 

 

Steel is (I think) about $0.25lb. in the US today. A Ford F-150 weighs about 4,000lbs. Say half the weight is steel, that's 2,000 X $0.25 = $500.

 

A 20% tariff on steel adds about $100 to the vehicle, which retails for about $35,000

 

A 20% tariff on a $35,000 Chinese pickup to compete with the Ford, is $7,000, which gives the Ford a big advantage. 

 

To be clear, I am not a supporter of tariffs, but they can be useful tools. Trump will not put 20% tariffs across the board, to do so would be insanity. 

 

Trump's proposed tariffs estimated to cost US auto industry $40 billion

 

https://asia.nikkei.com/Politics/U.S.-elections-2024/Trump-tariffs-risk-raising-U.S.-auto-production-costs-by-40bn

 

Forbes view of US auto industry

 

https://www.forbes.com/councils/forbestechcouncil/2024/10/09/how-the-auto-industry-predicts-and-shapes-the-us-economy/

Edited 4 hours ago by simple1

[Yellowtail]

6 minutes ago, simple1 said:

 

Trump's proposed tariffs estimated to cost US auto industry $40 billion

 

https://asia.nikkei.com/Politics/U.S.-elections-2024/Trump-tariffs-risk-raising-U.S.-auto-production-costs-by-40bn

So worst case about 3%. 

 

 

[Yagoda]

2 hours ago, wombat said:

Please...where have you been hiding?

That saying the bigger the lie the easier it is for people to believe,

you've never seen before?

Looks like Diddys party guest list

[simple1]

8 minutes ago, Yellowtail said:

So worst case about 3%. 

 

 

Naturally increased cost of production will be passed onto the consumer, with an uplift. Have to see what trump actually does with tariffs, 'cause it isn't a one way street which many seem to overlook. So far as I know protectionist economy policy has never ended up being a positive.

 

https://www.worldbank.org/en/news/feature/2023/08/29/protectionism-is-failing-to-achieve-its-goals-and-threatens-the-future-of-critical-industries

[dinsdale]

312 Electoral College votes/The Whitehouse/The Senate/The House/The popular vote/All 7 battleground swing states/Blue wall now RED. Cry and spit your vitriolic venom all you like but this is now the reality.

Edited 4 hours ago by dinsdale

[bendejo]

2 hours ago, wombat said:

That saying the bigger the lie the easier it is for people to believe,

you've never seen before?

Our Fox-watching brethren seem to never have, perhaps.

They never saw the violence on 1/6 as well.

 

Those Muslim guys (supposedly) voted for the guy who pushed the Muslim ban.  Sense?  Sense has nothing to do with it.

 

[dinsdale]

 

[Yellowtail]

1 minute ago, simple1 said:

Naturally increased cost of production will be passed onto the consumer, with an uplift. Have to see what trump actually does with tariffs, 'cause it isn't a one way street which many seem to overlook. So far as I know protectionist economy policy has never ended up being a positive.

 

https://www.worldbank.org/en/news/feature/2023/08/29/protectionism-is-failing-to-achieve-its-goals-and-threatens-the-future-of-critical-industries

Naturally. But the "study" (hit piece) assumes no one will change their purchasing and production decisions. If also uses a straight 20% as if there will be no carve outs.

 

Increased taxes manufacturers have to pay will be passed on to consumers as well, but that's great, yes? 

 

[dinsdale]

15 hours ago, simple1 said:

 

OK, thought you meant across the board. Sure there may be some domestic industries which benefit from tariffs where they do not require imported products for their manufacturing production processes, Any stats available?

If the products are being made in the US I'm not sure tariffs will be placed on any imported materials needed to make said products. If I'm wrong maybe someone can point out that this won't be the case and that tariffs will be put on all and every imported item.

[frank83628]

3 hours ago, wombat said:

Please...where have you been hiding?

That saying the bigger the lie the easier it is for people to believe,

you've never seen before?

there might be a few lthat are not allowed to leave when the tapes and pictures come to light and subsequent  charges are being given out

[simple1]

12 minutes ago, Yellowtail said:

Naturally. But the "study" (hit piece) assumes no one will change their purchasing and production decisions. If also uses a straight 20% as if there will be no carve outs.

 

Increased taxes manufacturers have to pay will be passed on to consumers as well, but that's great, yes? 

 

 

I assume auto industry will receive tax benefits. 

[Yellowtail]

Just now, dinsdale said:

If the products are being made in the US I'm not sure tariffs will be placed on any imported materials needed to make said products. If I'm wrong maybe someone can point out that this won't be the case and that tariffs will be put on all and every imported item.

Unless a company gets an exception, they would have to pay duty on imported materials. 

 

For example, if you are a BOI registered manufacturer in Thailand, you can get an exemption on duty and VAT on many of the materials that you import. Companies that are not BOI registered would not enjoy those benefits. 

[dinsdale]

1 minute ago, simple1 said:

 

I assume auto industry will receive tax benefits. 

What the US auto industry is getting is protection through tariffs on foreign imports. 

[Yellowtail]

2 minutes ago, simple1 said:

 

I assume auto industry will receive tax benefits. 

Sure they will, and one of the most likely would be exemption from paying tariffs on the materials they import. 

[pattayasan]

55 minutes ago, Yellowtail said:

Sure they will, and one of the most likely would be exemption from paying tariffs on the materials they import. 

 

That's why TSLA rocketed after Trump was elected. TSLA up 3% yesterday while NVDA down 3%. That's a lot. And the NASDAQ 100 Index finished down 2.38% on heavy volumes.

 

The media is saying, the stock market is selling off due to interest rate worries, now that Jay Powell is showing signs of turning hawkish. 

 

 

[Yellowtail]

1 minute ago, pattayasan said:

 

That's why TSLA rocketed after Trump was elected. TSLA up 3% yesterday while NVDA down 3%. That's a lot. And the NASDAQ 100 Index finished down 2.38% on heavy volumes.

 

The media is saying, the stock market is selling off due to interest rate worries, now that Jay Powell is showing signs of turning hawkish. 

 

 

Why didn't you buy TSLA and sell NVDA? 

 

[pattayasan]

4 minutes ago, Yellowtail said:

Why didn't you buy TSLA and sell NVDA? 

 

 

Stocks are dumping for some reason lately, including DJT. I'll sell gold and oil for the time being until they find a bottom but for the next while it'll be like catching a falling knife.

[simple1]

2 hours ago, dinsdale said:

If the products are being made in the US I'm not sure tariffs will be placed on any imported materials needed to make said products. If I'm wrong maybe someone can point out that this won't be the case and that tariffs will be put on all and every imported item.

 

If you're referring to products requiring imported components, then, yes, the final product would have the component of tariff costs in final price.

[dinsdale]

3 minutes ago, simple1 said:

 

If you're referring to products requiring imported components, then, yes, the final product would have the component of tariff costs in final price.

Ok. So that would be the 20% tariff. I guess if energy costs come down considerably the tariff cost could be offset.

[simple1]

3 minutes ago, dinsdale said:

Ok. So that would be the 20% tariff. I guess if energy costs come down considerably the tariff cost could be offset.

 

Obviously depends on % tariff placed on a particular country. trump has indicated some very large tariff impositions as an economic   / foreign policy tool. You may like to review the following...

 

https://www.pbs.org/newshour/economy/trump-favors-huge-new-tariffs-how-do-they-work

[dinsdale]

Just now, simple1 said:

 

Obviously depends on % tariff placed on a particular country. trump has indicated some very large tariff impositions as an economic   / foreign policy tool. You may like to review the following...

 

https://www.pbs.org/newshour/economy/trump-favors-huge-new-tariffs-how-do-they-work

Sure. Cheers. Chinese EV's are sure in the firing line but Trump isn't the only one doing this. It's protectionism which is a big threat to the dominant economic paradigm of globalism. Seems the voting public are on board with this.

It's an interesting article. Going to be interesting to see how it pans out.