Don't Panic China Sucks
#1
Posted 13 May 2019 - 01:09 PM
We are in a war we have been losing, this is our economic D-Day and Battle of Midway combined.
#2
Posted 13 May 2019 - 02:04 PM
#3
Posted 13 May 2019 - 02:35 PM
#4
Posted 13 May 2019 - 04:19 PM
GhostOfAndrewJackson, on 13 May 2019 - 02:35 PM, said:
The left and their media will continue to undermine the nation. As an example, NPR constantly takes China’s side in the trade dispute.
#5
Posted 13 May 2019 - 06:21 PM
#6
Posted 13 May 2019 - 08:07 PM
So now Trump's in the process of undoing 25 years of selling Americans down the road. If you don't understand his "Make America Great Again" slogan, it's playing out as we type. Screw the Left, they're the reason the country's in the mess it's in!
This post has been edited by NH Populist: 13 May 2019 - 08:08 PM
#7
Posted 14 May 2019 - 08:53 AM
Coach, on 13 May 2019 - 01:09 PM, said:
We are in a war we have been losing, this is our economic D-Day and Battle of Midway combined.
The U.S. GPD is over $20 trillion. We currently import around $600 billion from China. Thus, the total impact on the U.S. economy is just over 2.5%. Even with a 25% tariff on ALL China imports (currently only half), it only represents at most 0.625% impact on the U.S. economy. It really is insignificant in the big picture. Sure, some people buying products made in China will pay a little extra, but it won't be all of the 25% simply because China will adsorb a lot of it, thus less profit for their manufacturer. Why? Because people will vote with their money by buying a similar product made someplace else if the price is too high for a product made in China. China can't afford idle factories, so they have to keep the price down to keep volume up. But, imports have alreday dropped 10% in the last three months as businesses are reacting to the uncertainty dealing with China. It takes time for businesses to find other places (in the U.S. or non-China countries) to source their products for their supply chain. I suspect this decrease in China imports will continue due to the latest tariff increase and the threat to add the tariff to the rest of the China imports ($325 billion) in July.
IMHO, this is all really great news. I hope we never get a deal with China and President Trump bumps the tariff on all China products even higher than 25%. No matter what agreement we have with them, they WILL cheat. That's who they are...they're Communists! Everything I've ever bought from China is absolute junk, so its not like we'd be missing anything if we stopped trading with them completely (like before Clinton sold out to the Chicoms).
#8
Posted 14 May 2019 - 09:33 AM
Another aspect of off shore manufacturing and the modern world that drives me nuts is it's cheaper to replace something than repair it, if repairing it is even possible. I've seen too many products that you have to actually break them to get the apart to try and repair them. This is a bad change in philosophy, and results in a lot of waste.
#9
Posted 14 May 2019 - 10:58 AM
Hieronymous, on 13 May 2019 - 02:04 PM, said:
This would be true if our currency was backed by something tangible instead of being a fiat currency. The only thing that gives our currency any value whatsoever is that it's backed by the full faith and credit of the US Government.
We stop paying our obligations, it's going to cause major ripples throughout the entire world economy. Especially since our currency is the major reserve currency of the world, and because most of the other world currencies are also fiat currencies....
Long term, the entire world economy is nothing but a giant ponzi scheme. It will correct and when it does, it's going to make the Great Depression look tame.
#10
Posted 14 May 2019 - 11:08 AM
corporal_little, on 14 May 2019 - 10:58 AM, said:
There's been talk the last few years (since maybe 2014?). Maybe not for much longer...
#11
Posted 14 May 2019 - 11:51 AM
MTP Reggie, on 14 May 2019 - 11:08 AM, said:
We're now one of 4 reserve currencies.....