{Looks at my 401K} Ummmm......... š¤¬So how does everybody feel about Trump now that he is back as POTUS 47?
Those penguins better pay up! š
Jethro
Captain
Well I think his first days in office have pretty much covered everything we need to know, the village called they want their Idiot back.So how does everybody feel about Trump now that he is back as POTUS 47?
Our Government remain mildly amused by the whole tariff thing, the U.S isn't our biggest trading partner and there are other markets open to Australian exports. The public remain less amused and are calling for some kick back, remember not a major trading partner, so people need to calm down. The treaty with the U.S is back on the political table with a couple of minor parties calling for it to be ripped up, strategic metals might not be finding their way to the U.S, and well how about a huge tariff on those monster trucks we are importing from the U.S
Thus far the Gov have sold the over the horizon radar system to the Canadians before the U.S, in what any world leader with an I.Q above that of Peewee Herman would see as a major slap on the face diplomatically.
Besides that major boycotts of U.S products underway Downunder, which apparently includes Maccas, who actually use Aussie beef ... uhmm yeah okay lets boycott that. On the bright side Tesla sales have fallen off a cliff, with Chinese car makers rubbing their hands in glee.
Trump really doesn't understand the use of tariffs as a political weapon, and the cost it will have on U.S consumers. Sure there was a trade deficit between the U.S and Australia, but to the U.S's advantage, that's not going to last. You don't tend to raise tariffs against allies you have a trade surplus with, that will have a negative impact.
Simple explanation of how tariffs work for those confused by Trump's complete ignorance on them.
I'm an Aussie exporter to the U.S, and I'm selling gidgets to the U.S car manufacturing sector for $100. Trump raises a 10% tariff. My U.S consumer still pays me $100, so no issue there, but also has to pay the U.S $10 for the tariff, which is simply another tax as far as the U.S consumer is concerned.
So what happens with an additional $10 cost, well it gets passed to the consumer naturally, so U.S car prices go up, but not by $10. See there's this thing called working capital that has a cost to a business. Assuming there's not a contraction in sales, not a given, the U.S consumer has to raise additional working capital to cover the tariff and continue operation, which has a cost, and that cost gets passed on to the consumer as well. So an additional $10 is likely to be in all actuality more like $12.50.
Okay that's a simple example, but the basic principle is the exporter to the U.S doesn't bare the cost of the tariff, the U.S buyer of the finish product does. Now just imagine a full supply chain impact. With a product having an Importer, Distributor, Local Distributor, and finally the Retailer. At each step the tariff price is going to escalate as the cost of doing business increases. Your initial $10 will probably become over $20 to the U.S purchaser, now that's an additional tax in operation.
On the bright side the price of steak is expected to drop in Australia. meat is back on the menu boys, (well it always was, but love the quote).
While we remain mildly amused I fear for U.S democracy with Trump thundering around like a toddler with a poo in the nappy, well okay that isn't a good analogy, as Trump's adult diaper issue is well know by now.
Salty Vampire
Hugs
Lol. Trump is Trump. A vengeful deranged turd of a man. Itās āhow do I feel about Republicans in Congress?ā The only ones that can stop him. Not a spine to be found.
Iāve imagined living in my car, with 2 dogs. Lovely
Iāve imagined living in my car, with 2 dogs. Lovely
Another day, another plunge in my 401K value. And now the idiot is continuing to play games. I don't think he has any clue in regards to what his will-he-or-won't-he tariffs are doing to American stocks.
Trump announces 90-day pause on tariffs for non-retaliating countries
The duties faced by China will now rise to 125% effective immediately.
www.nbcnews.com
The sitting Congress will not make efforts to stop him; as soon as they think it might affect their reelection chances they shut-up and disappear from the public. š”
I was wrong. Trump, or at least the "Trump Team", seem have played the game to the benefit of those who were 'in the know'. It's a lot easier to 'buy low, sell high' in the markets if you're able to manipulate them.
Trump's 'buy' tip on social media before his tariffs pause made money for investors who listened
President Donald Trump offered some financial advice on Wednesday morning that ended up making a lot of money for any lucky investor who listened to him.
apnews.com
Bella
Scout
is that illegal?I was wrong. Trump, or at least the "Trump Team", seem have played the game to the benefit of those who were 'in the know'. It's a lot easier to 'buy low, sell high' in the markets if you're able to manipulate them.
Trump's 'buy' tip on social media before his tariffs pause made money for investors who listened
President Donald Trump offered some financial advice on Wednesday morning that ended up making a lot of money for any lucky investor who listened to him.
