Will Trump bankrupt the US entirely?

[JaxxBKK]

3 hours ago, spidermike007 said:

It would appear to some of us that the big ugly spending bill is going to lead to a massive amount of additional debt, as Elon Musk and Ray Dalio very accurately state. Many of us would question the wisdom of giving huge tax breaks to the super wealthy when the US economy is already carrying an unsustainable amount of debt, and the interest rates required to service that debt continue to rise. It does not look like the Fed will be able to lower interest rates anytime soon, as the appetite for American debt seems to be waning dramatically, for at least a dozen good reasons. 

 

For those of us who don't buy into the sloganeering we realize that very little manufacturing is coming back to the US, five major US companies have just announced that they're shifting a significant amount of their production overseas to avoid reciprocal tariffs, and that trend is likely to just continue. In addition tourism to the US is way down, due to Trump's increasingly open hostility toward the majority of the planet. 

 

Trump, nor his substandard team seem to have absolutely no understanding of globalization and the inherent ecosystems within manufacturing, and he doesn't seem to understand why manufacturing has declined in the US over the last 55 years. It certainly didn't happen in a vacuum. 

 

I predict that Trump's attempts to impose tariffs and bring manufacturing back to the US will be a massive failure of epic proportions.

 

 

 

Just another emotional, pedantic whine.

 

I agree, the spending is a problem, but you really don't have a problem with spending as you are strident Biden soyboi.

 

You have a problem with TRUMP spending

 

I predict... you have nothing better to do with your life than post jibberish on a board dedicated to a country you don't live in and rarely visit

 

It's pretty obvious you know exactly nothing about finance and economics. I'll leave it at that.

[Yellowtail]

1 minute ago, Patong2021 said:

The sad reality is that the USA has a dangerous amount of debt.

The only way to control and to reduce debt is to reduce spending and/or to collect more revenue.

The Trump budget increases spending and reduces tax revenues.

The budget deficit will increase again.

Pointing a finger at Biden, or Reagan or other presidents (except Clinton, who tamed his deficit) deflects from the immediate crisis. Trump has an opportunity to effect a responsible budget and has chosen not to do so. The Republicans who are calling for restraint are being ignored and threatened with primaries. It is not right wing, nor extremist to ask for fiscal restraint and responsibility.

 

The people of the USA have been transformed from a people of nation dreaming and big dreams to a nation of instant gratification and short term thinking. They refuse to accept that spending must be reduced, and that taxes for the very wealthy should not be reduced. The spending cuts will mostly impact the poor and vulnerable, and the tax reductions will mostly benefit the very wealthy, and yet, the US public is okay with that.  We are watching the decline of the USA, and if there is not an immediate and significant shift in fiscal policy, the end of the USA as a leading world economic power.

 

 

You do not know that it collects less revenue. 

 

Eight trillion in commitments to US manufacturing in five months is a pretty good bit. 

[spidermike007]

2 minutes ago, JaxxBKK said:

 

Just another emotional, pedantic whine.

 

I agree, the spending is a problem, but you really don't have a problem with spending as you are strident Biden soyboi.

 

You have a problem with TRUMP spending

 

I predict... you have nothing better to do with your life than post jibberish on a board dedicated to a country you don't live in and rarely visit

 

It's pretty obvious you know exactly nothing about finance and economics. I'll leave it at that.

 

3 minutes ago, JaxxBKK said:

 

Just another emotional, pedantic whine.

 

I agree, the spending is a problem, but you really don't have a problem with spending as you are strident Biden soyboi.

 

You have a problem with TRUMP spending

 

I predict... you have nothing better to do with your life than post jibberish on a board dedicated to a country you don't live in and rarely visit

 

It's pretty obvious you know exactly nothing about finance and economics. I'll leave it at that.

Simple minds tend to jump to conclusions without having any information to base those conclusions on. I've been a successful businessman my whole life, I still own a couple of companies in the US, and I travel back there 2 to 5 times a year, so just how uninformed does that make you? 

[spidermike007]

So many American businesses are being negatively affected by these inane tariff policies.

 

“At this point, no one can be certain whether today’s court ruling constitutes a reprieve; we will need to wait for the Supreme Court's response after hearing the appeal on Friday," said Nathan Washburn, partner of Massanois Fine Wine & Craft Spirits in New York.

 

"We don’t see a short-term conclusion to the tariff issue based on what we know today. The primary challenge posed by tariffs is the cash payments required by US Customs at the port of entry," Washburn told Wine-Searcher. "For instance, if you order a container of wine for €100,000 and face a 10 percent tariff payment at the port before the wine arrives at your warehouse, you must sell the container, collect the funds, and cover all your normal operating expenses, including payment to the supplier, while also absorbing the upfront tariff cost as either a price increase or margin decrease.

 

"We are part of a national supply chain that supports a broader ecosystem of over 8000 importers and wholesalers, more than 350,000 restaurants, and over 50,000 retailers across the country," Washburn said. "Tariff-driven price increases, margin reductions, and tightening cash flow contribute to the challenges faced by these thousands of operators and their employees as they strive to grow their businesses in an environment where employment costs, food costs, and rents are already rising."

 

The feeling of uncertainty was the same on both sides of the Atlantic. "We still have to see what will happen definitively," Libero Rillo, owner of Fontanavecchia in Campania, Italy, told Wine-Searcher. "In a moment of global uncertainty, tariffs are an additional burden for a sector already under pressure. People have less money, more fear of spending, and consumption is slowing down. In this context, tariffs only worsened an already critical situation.

 

"That said, the damage has already been done: ever since the announcement of the tariffs, the market reacted with a devaluation of the dollar, and today, regardless of court rulings, that effect remains. In practical terms, buying from Italy currently costs around 10 percent more, and that affects the entire supply chain. Of course, we hope for stability and a rebalancing of the markets. But we need clear, long-term decisions – not steps forward followed by steps back."

 

Erica Nonni, who owns a marketing company that represents several foreign wine regions and producers, said the US has already lost business because of the uncertainty. The US Wine Trade Alliance says that for every dollar a US company spends on a European wine, US companies including importers, retailers and restaurateurs get $4.52.

 

https://www.wine-searcher.com/m/2025/05/tariff-chaos-bites-for-us-importers

 

 

[Yellowtail]

1 minute ago, spidermike007 said:

So many American businesses are being negatively affected by these inane tariff policies.

 

“At this point, no one can be certain whether today’s court ruling constitutes a reprieve; we will need to wait for the Supreme Court's response after hearing the appeal on Friday," said Nathan Washburn, partner of Massanois Fine Wine & Craft Spirits in New York.

 

"We don’t see a short-term conclusion to the tariff issue based on what we know today. The primary challenge posed by tariffs is the cash payments required by US Customs at the port of entry," Washburn told Wine-Searcher. "For instance, if you order a container of wine for €100,000 and face a 10 percent tariff payment at the port before the wine arrives at your warehouse, you must sell the container, collect the funds, and cover all your normal operating expenses, including payment to the supplier, while also absorbing the upfront tariff cost as either a price increase or margin decrease.

 

"We are part of a national supply chain that supports a broader ecosystem of over 8000 importers and wholesalers, more than 350,000 restaurants, and over 50,000 retailers across the country," Washburn said. "Tariff-driven price increases, margin reductions, and tightening cash flow contribute to the challenges faced by these thousands of operators and their employees as they strive to grow their businesses in an environment where employment costs, food costs, and rents are already rising."

 

The feeling of uncertainty was the same on both sides of the Atlantic. "We still have to see what will happen definitively," Libero Rillo, owner of Fontanavecchia in Campania, Italy, told Wine-Searcher. "In a moment of global uncertainty, tariffs are an additional burden for a sector already under pressure. People have less money, more fear of spending, and consumption is slowing down. In this context, tariffs only worsened an already critical situation.

 

"That said, the damage has already been done: ever since the announcement of the tariffs, the market reacted with a devaluation of the dollar, and today, regardless of court rulings, that effect remains. In practical terms, buying from Italy currently costs around 10 percent more, and that affects the entire supply chain. Of course, we hope for stability and a rebalancing of the markets. But we need clear, long-term decisions – not steps forward followed by steps back."

 

Erica Nonni, who owns a marketing company that represents several foreign wine regions and producers, said the US has already lost business because of the uncertainty. The US Wine Trade Alliance says that for every dollar a US company spends on a European wine, US companies including importers, retailers and restaurateurs get $4.52.

 

https://www.wine-searcher.com/m/2025/05/tariff-chaos-bites-for-us-importers

 

 

How have your companies been negatively affected? 

[JaxxBKK]

1 minute ago, spidermike007 said:

 

Simple minds tend to jump to conclusions without having any information to base those conclusions on. I've been a successful businessman my whole life, I still own a couple of companies in the US, and I travel back there 2 to 5 times a year, so just how uninformed does that make you? 

 

Judging by your post about economics / Trump good luck with those businesses 🤣

 

Just another vapid whinge about Trump.

 

You don't like the guy. Never EVER anything remotely positive to say about the good he's doing especially for small business. You're so biased your opinion so subjective as to be worthless.

 

You spent some time on Koh Samui and now you're done.

 

Just leave us in peace

 

PS think you were vaxxer too 👍

[JaxxBKK]

3 minutes ago, spidermike007 said:

So many American businesses are being negatively affected by these inane tariff policies.

 

“At this point, no one can be certain whether today’s court ruling constitutes a reprieve; we will need to wait for the Supreme Court's response after hearing the appeal on Friday," said Nathan Washburn, partner of Massanois Fine Wine & Craft Spirits in New York.

 

"We don’t see a short-term conclusion to the tariff issue based on what we know today. The primary challenge posed by tariffs is the cash payments required by US Customs at the port of entry," Washburn told Wine-Searcher. "For instance, if you order a container of wine for €100,000 and face a 10 percent tariff payment at the port before the wine arrives at your warehouse, you must sell the container, collect the funds, and cover all your normal operating expenses, including payment to the supplier, while also absorbing the upfront tariff cost as either a price increase or margin decrease.

 

"We are part of a national supply chain that supports a broader ecosystem of over 8000 importers and wholesalers, more than 350,000 restaurants, and over 50,000 retailers across the country," Washburn said. "Tariff-driven price increases, margin reductions, and tightening cash flow contribute to the challenges faced by these thousands of operators and their employees as they strive to grow their businesses in an environment where employment costs, food costs, and rents are already rising."

 

The feeling of uncertainty was the same on both sides of the Atlantic. "We still have to see what will happen definitively," Libero Rillo, owner of Fontanavecchia in Campania, Italy, told Wine-Searcher. "In a moment of global uncertainty, tariffs are an additional burden for a sector already under pressure. People have less money, more fear of spending, and consumption is slowing down. In this context, tariffs only worsened an already critical situation.

 

"That said, the damage has already been done: ever since the announcement of the tariffs, the market reacted with a devaluation of the dollar, and today, regardless of court rulings, that effect remains. In practical terms, buying from Italy currently costs around 10 percent more, and that affects the entire supply chain. Of course, we hope for stability and a rebalancing of the markets. But we need clear, long-term decisions – not steps forward followed by steps back."

 

Erica Nonni, who owns a marketing company that represents several foreign wine regions and producers, said the US has already lost business because of the uncertainty. The US Wine Trade Alliance says that for every dollar a US company spends on a European wine, US companies including importers, retailers and restaurateurs get $4.52.

 

https://www.wine-searcher.com/m/2025/05/tariff-chaos-bites-for-us-importers

 

 

 

Wine searcher 😂

 

 

What an epic website for economic analysis 👍

[Yellowtail]

1 minute ago, JaxxBKK said:

 

Wine searcher 😂

 

 

What an epic website for economic analysis 👍

So, tariffs are bad for importers, what a shock, huh? 

[SunnyinBangrak]

12 minutes ago, JaxxBKK said:

PS think you were vaxxer too 👍

They all were mate. The entire hivemind. Not one of them said hang on a minute are we sure being forced to get jabbed with experimental muck is safe? Not a single one. They encouraged censorship of the voices that turned out to be fact so sure were they of their beloved "doctors" Fauci and Gates. Groupthink gone wild.

[JaxxBKK]

Just now, Yellowtail said:

So, tariffs are bad for importers, what a shock, huh? 

 

The OP fails to grasp the tarrifs are not about tarrifs. They are about strong arming countries into balancing trade

 

The OP dies not mention the trade agreements and influx of investment whatsoever.

 

None of this will solve the broken liberal, globalist hegemony. Nevertheless, it's something more than we got out of a senile, child sniffing dottering old fool who had zero trade policy because his mind was mashed potatoes

[JaxxBKK]

3 minutes ago, SunnyinBangrak said:

They all were mate. The entire hivemind. Not one of them said hang on a minute are we sure being forced to get jabbed with experimental muck is safe? Not a single one. They encouraged censorship of the voices that turned out to be fact so sure were they of their belived "doctors" Fauci and Gates. Groupthink gone wild.

 

And this forum allowed nothing but that perspective as well

 

🙏

[JaxxBKK]

13 minutes ago, Yellowtail said:

How have your companies been negatively affected? 

 

No

 

How could business possibly be negativity impacted from Biden BS?

 

Impossible to fathom but I'll leave spiderman to detail for us how he's losing money hand over fist under this administration 🤣🤣🤣🤣🤣

[JaxxBKK]

Hey Mike

 

United States doesn't need ANY imported wine. It grows, bottles fabulous wine that is also a very good value for money.

 

Let the tarrifs rip!

 

[Patong2021]

24 minutes ago, Yellowtail said:

You do not know that it collects less revenue. 

 

Eight trillion in commitments to US manufacturing in five months is a pretty good bit. 

 

8 trillion is not  tax revenues. It is possible spending is it not? One does not gain tax revenue from a pledge to do something.. The  deficit is happening now.  Reduce the taxes when the replacement revenue is available.   Let's say, a promised factory does appear. It will not be generating tax revenue for several years, and even then, it may be a zero sum result because of the city, county, state and federal  subsidies,grants and tax waivers  given to attract the facility.

The only solution to the US deficit crisis is to reduce spending and to maintain tax revenues. Why not try with a balanced budget first. Why is it so difficult to live within one's means. We all have to do it. A government should too.

[Yellowtail]

1 minute ago, Patong2021 said:

 

8 trillion is not  tax revenues. It is possible spending is it not? One does not gain tax revenue from a pledge to do something.. The  deficit is happening now.  Reduce the taxes when the replacement revenue is available.   Let's say, a promised factory does appear. It will not be generating tax revenue for several years, and even then, it may be a zero sum result because of the city, county, state and federal  subsidies,grants and tax waivers  given to attract the facility.

The only solution to the US deficit crisis is to reduce spending and to maintain tax revenues. Why not try with a balanced budget first. Why is it so difficult to live within one's means. We all have to do it. A government should too.

I'm all for a balanced budget. 

 

What would you cut? 

 

 

 

[Lacessit]

3 hours ago, spidermike007 said:

 

I predict that Trump's attempts to impose tariffs and bring manufacturing back to the US will be a massive failure of epic proportions.

 

 

Part of the MAGA mythology - China, Mexico, Vietnam etc. stole American jobs.

 

Fact is, American companies moved their operations to China and Mexico in search of cheaper labor costs and higher profits.

 

While China may have lost some of those companies, they have not moved back to the USA - Mexico is preferred.

 

General Motors, Ford, Whirlpool, Honeywell, John Deere,Medtronic, Intel, Caterpillar and Proctor and Gamble all have established manufacturing operations in Mexico.

 

 

[connda]

Will Trump bankrupt the US entirely?

 

He seems to be working on it.  But I'm betting he and his family makes billions in the process.

[JaxxBKK]

4 minutes ago, Patong2021 said:

 

8 trillion is not  tax revenues. It is possible spending is it not? One does not gain tax revenue from a pledge to do something.. The  deficit is happening now.  Reduce the taxes when the replacement revenue is available.   Let's say, a promised factory does appear. It will not be generating tax revenue for several years, and even then, it may be a zero sum result because of the city, county, state and federal  subsidies,grants and tax waivers  given to attract the facility.

The only solution to the US deficit crisis is to reduce spending and to maintain tax revenues. Why not try with a balanced budget first. Why is it so difficult to live within one's means. We all have to do it. A government should too.

 

You make some salient points, but spiderman mentioned none of this. It was just a whine or shall I state - wine.

[Patong2021]

5 minutes ago, JaxxBKK said:

Hey Mike

 

United States doesn't need ANY imported wine. It grows, bottles fabulous wine that is also a very good value for money.

 

Let the tarrifs rip!

 

Yes,  the USA has some  decent wine. The thing is, its industry relies on exports. US$2 billion+ to the EU and Canada. The EU certainly doesn't need California wine, and the current Canadian boycott of US  imports has hurt the industry.

[JaxxBKK]

2 minutes ago, Lacessit said:

Part of the MAGA mythology - China, Mexico, Vietnam etc. stole American jobs.

 

Fact is, American companies moved their operations to China and Mexico in search of cheaper labor costs and higher profits.

 

While China may have lost some of those companies, they have not moved back to the USA - Mexico is preferred.

 

General Motors, Ford, Whirlpool, Honeywell, John Deere,Medtronic, Intel, Caterpillar and Proctor and Gamble all have established manufacturing operations in Mexico.

 

 

 

No doubt.

 

GOP fkkers were part of this and still are.

 

MAGA is a populist movement not aligned with that lot except for experiences sake.

 

Graham

McConnell

Grassley

et al

 

 

 

 

 

[JaxxBKK]

3 minutes ago, Patong2021 said:

Yes,  the USA has some  decent wine. The thing is, its industry relies on exports. US$2 billion+ to the EU and Canada. The EU certainly doesn't need California wine, and the current Canadian boycott of US  imports has hurt the industry.

 

In the end it will all shake out.

 

I've for decades wondered why the hell US allows these massive trade imbalances.

[JaxxBKK]

8 minutes ago, connda said:

Will Trump bankrupt the US entirely?

 

He seems to be working on it.  But I'm betting he and his family makes billions in the process.

 

This is so moronic.

 

Biden forgiving student loans

 

Biden 20 million x border, paying billions out of USAID

 

Biden trillions to Ukraine

 

Absolute LAFF

[Lacessit]

18 minutes ago, JaxxBKK said:

 

The OP fails to grasp the tarrifs are not about tarrifs. They are about strong arming countries into balancing trade

 

The OP dies not mention the trade agreements and influx of investment whatsoever.

 

None of this will solve the broken liberal, globalist hegemony. Nevertheless, it's something more than we got out of a senile, child sniffing dottering old fool who had zero trade policy because his mind was mashed potatoes

How's strong-arming China working? Farmers are going broke.

 

Tariffs are inflationary, period.

 

What influx of investment? Haven't you noticed Treasury Bond yields are increasing? The dollar is devaluing?

 

Biden increased jobs by 16 billion during his presidency. The stock market hit record levels.

 

Explaining economic facts to the likes of you is like trying to teach Hindi to a beagle.

[Patong2021]

7 minutes ago, JaxxBKK said:

 

This is so moronic.

 

Biden forgiving student loans

 

Biden 20 million x border, paying billions out of USAID

 

Biden trillions to Ukraine

 

Absolute LAFF

Biden is not in office. Trump is. Biden is not creating the   massive deficit in the    Trump budget. Trump is doing that.

[Lacessit]

5 minutes ago, JaxxBKK said:

 

In the end it will all shake out.

 

I've for decades wondered why the hell US allows these massive trade imbalances.

The last president to reduce American debt was Calvin Coolidge. Irrespective of political stripe, every leader has kicked the can down the road since. Trump is no exception.

 

When it does shake out, America will be a nation consisting of gated communities, trailer parks and tent cities. There won't be a middle class.

[JaxxBKK]

4 minutes ago, Lacessit said:

How's strong-arming China working? Farmers are going broke.

 

Tariffs are inflationary, period.

 

What influx of investment? Haven't you noticed Treasury Bond yields are increasing? The dollar is devaluing?

 

Biden increased jobs by 16 billion during his presidency. The stock market hit record levels.

 

Explaining economic facts to the likes of you is like trying to teach Hindi to a beagle.

 

You just don't get it. I understand

 

You're another one on here with an absolute inability to give Trump credit for anything. If it were Dem policy it would be perfectly fine.

 

Biden increased jobs by 16 billion 😂😂😂😂😂😂

 

4 years under Biden was largely a treasonous adventure that did absolutely nothing but HARM the economy and the US population.

 

Your post is wholly incorrect

 

You are a strident anti trump poster. Like spiderman you have an absolute inability to look at anything objectively.

 

You're an absolute LAFF. Biden economy spending into oblivion and you hold THIS president to account over 100 days.

 

Meanwhile, Biden needlessly spent trillions and no criticism whatsoever. You have zero credibility

[JaxxBKK]

5 minutes ago, Patong2021 said:

Biden is not in office. Trump is. Biden is not creating the   massive deficit in the    Trump budget. Trump is doing that.

 

Hahaha

 

This is so disingenuous it's hilarious.

 

Let's turn the page ... AS QUICKLY AS POSSIBLE

 

🙄🙄

 

🤣🤣🤣🤣🤣🤣🤣

[Lacessit]

10 minutes ago, JaxxBKK said:

 

You just don't get it. I understand

 

You're another one on here with an absolute inability to give Trump credit for anything. If it were Dem policy it would be perfectly fine.

 

Biden increased jobs by 16 billion 😂😂😂😂😂😂

 

4 years under Biden was largely a treasonous adventure that did absolutely nothing but HARM the economy and the US population.

 

Your post is wholly incorrect

 

You are a strident anti trump poster. Like spiderman you have an absolute inability to look at anything objectively.

 

You're an absolute LAFF. Biden economy spending into oblivion and you hold THIS president to account over 100 days.

 

Meanwhile, Biden needlessly spent trillions and no criticism whatsoever. You have zero credibility

Are you rich? Because if you are not, Trump will screw you over irrespective of your political allegiances. Inflation, SS and Medicare cuts all heading your way.

 

Perhaps you lack the intelligence to understand that, which comes as no surprise.

[Patong2021]

20 minutes ago, Yellowtail said:

I'm all for a balanced budget. 

 

What would you cut? 

 

 

 

 

How about not increasing spending, a 2 year freeze, even on social benefits.. Simplifying the tax code, by eliminating loopholes and convoluted deduction schemes. Making tax evaders pay .Making  the people and companies who cost society hundreds of millions of dollars in damages  pay for their actions, whether it is fraud, or pollution or  deficient operations.

Ensuring a minimum tax on earnings of the super wealthy. Canceling  all planned tax reductions  for those who earn more than $75,000. Charging more realistic user fees for non essential services. Elimination of  non essential travel subsidies, like supporting airports with little or no  essential commercial traffic. Close redundant military bases  and depots . There are locations that were identified as not needed that the Pentagon wanted closed, but  was prevented from doing so by Congress. Stop funding of all non critical infrastructure projects like bridges and roads to "nowhere".  A  temporary suspension of all non essential foreign aid, including  a significant portion of foreign military aid. No more earmarking of bills to add on spending. Spending  should only be addressed in budget related legislation.

[Patong2021]

13 minutes ago, JaxxBKK said:

 

Hahaha

 

This is so disingenuous it's hilarious.

 

Let's turn the page ... AS QUICKLY AS POSSIBLE

 

🙄🙄

 

🤣🤣🤣🤣🤣🤣🤣

No that's you.

The fact is that Trump  has control of the budget, not Biden. It is Trump who is cutting taxes for the super wealthy and it is Trump who is  increasing spending without offsets.