Trump tells Americans ‘it won’t be easy’

[bannork]

Why doesn't Trump refer to the US $280bn trade surplus in areas such as financial services and social media when he's 'calculating' the trade deficit?

In the ten years from 2001 when China joined the WTO and gained free access to US markets, living standards, growth, profits and the stock markets boomed in the US with all the cheap exports from China.

US services thrived and US consumer brands boomed worldwide, relying on the very efficient supply chains from China and Asia. The downside, however:

A loss of 1 million manufacturing jobs and 2.4 million jobs overall.

A failure to distribute the wealth evenly across the country. America's aversion to 'socialist' policies, silly billies.

Too late now, imo. The rest of the world will form their own alliances though the US still holds 25% of the world's GDP.

 

 

 

 

[NorthernRyland]

30 minutes ago, bannork said:

Why doesn't Trump refer to the US $280bn trade surplus in areas such as financial services and social media when he's 'calculating' the trade deficit?

In the ten years from 2001 when China joined the WTO and gained free access to US markets, living standards, growth, profits and the stock markets boomed in the US with all the cheap exports from China.

US services thrived and US consumer brands boomed worldwide, relying on the very efficient supply chains from China and Asia. The downside, however:

A loss of 1 million manufacturing jobs and 2.4 million jobs overall.

A failure to distribute the wealth evenly across the country. America's aversion to 'socialist' policies, silly billies.

Too late now, imo. The rest of the world will form their own alliances though the US still holds 25% of the world's GDP.

 

I don't understand all the details but it's inherently unsustainable. The US is trading currency reserves for real goods. Every year the US is creating more money which gets sent abroad and becomes digits in a database. The debt grows higher and higher and the total money supplies grows.

 

How long can that go on? There must be some point at which they're tired of taking money they can't spend in the US economy because we're not making things they need. I think this is more about the global monetary system than anything else and Trump realizing we're backed into a corner we need to get out of.

[Lacessit]

13 minutes ago, NorthernRyland said:

I don't understand all the details but it's inherently unsustainable. The US is trading currency reserves for real goods. Every year the US is creating more money which gets sent abroad and becomes digits in a database. The debt grows higher and higher and the total money supplies grows.

 

How long can that go on? There must be some point at which they're tired of taking money they can't spend in the US economy because we're not making things they need. I think this is more about the global monetary system than anything else and Trump realizing we're backed into a corner we need to get out of.

It's not just the debt. It is also the interest on the debt. $36 trillion at 5% interest means the debt grows by $1.8 trillion every year, with compounding.

 

I can't see the USD being the world reserve currency much longer. A basket of stable currencies makes much more sense.

[Gottfrid]

9 hours ago, KhunLA said:

Compare ?  what ... apples & orange ?  No other country is like the USA.   It's a democratic republic, with electoral college, that elects/appoints the administrative branch (pres & vp), no matter what the popular vote is.

 

In the USA ...

 

... You have freedom of speech / press

... You are innocent till 'proven' guilty

... You can own & use a firearm to protect you & yours

 

I'm far from a representative of that country, as don't consider myself an ignorant idiot.   Apparent ~90% of the people are still dependent on 'the system'.   Have no clue how to be independent of it.

 

 

I left 25 yrs ago, and could give 2 sh!ts what happens over there, as it simply has NO EFFECT on me or mine.

 

You were the first 'pleasant dude' to call my opinion (actually all facts) ...

... rubbish.  Why I rarely bother to have discussions with ignorant people such as yourself.

 

BYE BYE

 

 

Oh, you left 25 years ago.....................not affect you...............but still care, right?

[Walker88]

Actually, it's very easy: just ignore the clown in the White House.

 

Gov Gavin Newsom is calling other nations and working out trade deals between California and other nations, ignoring the nonsense of POTUS. California is a huge and attractive market, and CA Produces lots of goods for export. Win-Win, and for POTUS, Lose-Lose.

 

CA doesn't need DC. It's the world's 5th largest economy. POTUS HAS no authority to impose tariffs, so States are not under obligation to abide by the clownshow.

 

Once Newsom succeeds, expect other States to do the same, perhaps forming a trade block. OR, WA, MA, NY, NJ, CT and PA can all join in and do business. Companies able to benefit can see their stock prices soar again.

[FritsSikkink]

7 hours ago, jvs said:

Having the secret service stay at his place paying an inflated price?

Selling hats,bibles,guitars and trying to make money off his Trump coin?

I am sure there is a lot more.

You have to come up with something better in order for me to believe he is some kind of saint.

And ripping students off with Trump university, stealing from his charity. How dumb can one be to support that.

[Walker88]

18 minutes ago, FritsSikkink said:

And ripping students off with Trump university, stealing from his charity. How dumb can one be to support that.

MAGAdumb. That's how dumb. It's its own category of ignorant.

 

I suspect MAGAs bring down the collective IQ of humanity by at least 20 points.

[thaibeachlovers]

20 hours ago, biervoormij said:

You seem very reliant on Social Security and I would point out that it is part of the system and it is currently taking care of you. I know we paid into Social Security and should get the benefits but your current checks come from money being paid by workers in the US now and the money you and I paid in was spent a long time ago.

 

 

In NZ pensions are paid by current taxation, and if it all turns to <deleted> I'm probably screwed.

[hotsun]

3 minutes ago, thaibeachlovers said:

In NZ pensions are paid by current taxation, and if it all turns to <deleted> I'm probably screwed.

The fear is all politically motivated and nobody would be saying it if Biden were president. More likely than that is worldwide recession in which case you will be glad you are living in a developed country 

[bannork]

Penguins in US zoos face an uncertain future