Trade War Hot Takes

[Gulo Blue]

This trade war might be a gift to China's leadership. For years there's been talk of potential unrest if their economy slows down because the benefits of all the growth hasn't reached rural China and the growth has been expected to slow for some time. The current leader is very popular and having Trump to blame for any slowing of economic growth will help keep it that way.

I've seen a few articles describing China's holding of US debt as the nuclear option guaranteeing they come out ahead in any trade war with us, but those article aren't written as well as the articles saying they won't even consider selling that debt as a tactic. I saw a quote from a Chinese official saying something to the effect of them continuing to be responsible investors.

Jack Ma thinks this trade war is a competition between nations that will go on for 20 years.

I heard on the radio, the TPP was largely motivated to create a united front in trading with China.

 

[tigermud]

keep up the great job trump!

https://freemartyg.com/job-destroyers-whine-about-trump-s-tariffs-on-china

Those who move American jobs overseas insist NAFTA/TPP good, Trump bad

The people responsible for exporting hundreds of thousands of American manufacturing jobs to brutal sweatshops in countries like China - which often employ child labor - have been taking to the public airwaves on platforms like NPR to protest President Trump’s latest round of trade tasks.

Judging by their rhetoric, if President Trump keeps it up, the boardrooms of tax-dodging, child-exploiting, multi-national, multi-billion dollar corporations may soon supplant Chinese factories on the worldwide list of top purchasers of suicide netting.

Indeed, there is little that reveals the truth about how the leadership of the Democratic party sold out its former bread and butter constituency of American blue-collar workers while turning a blind eye to human rights violations abroad than its stance on the “screw-you” economics of “free” trade. For example, former President Bill Clinton negotiated and signed the original NAFTA treaty with the nearly-unanimous backing of Ivy League economists who ridiculed those who dared to disagree with their rosy fiscal predictions that it would create tens of thousands of well-paying jobs in the U.S.

In short order, NAFTA was hailed as one of the cornerstone accomplishments of the Clinton presidency.

However, the reality of the last two decades has seen well over a hundred thousand manufacturing jobs leave America for Mexico, benefiting producers through reduced labor costs while decimating blue collar towns and cities in the U.S.

Yet apparently not even that stark truth in the widespread discrediting of the liberal economic theories of the 1990’s deterred former Secretary of State Hillary Clinton from changing her tune to support the now-defunct Trans-Pacific Partnership (TPP) treaty once the special interests got to her with their checkbooks before the 2016 election. Many of the same economists and job exporters who loved NAFTA were practically salivating over the TPP before President Trump derailed that runaway train:

And now, they’re crying wolf on the latest trade announcement from the White House - an increase in tariffs on China enacted in reaction to retaliatory import dues the Asian nation recently established on American agriculture. President Trump has long criticized how the U.S. has dealt with China, allowing it to manipulate its currency in an anti-competitive manner. As a candidate, Trump promised on the campaign trail to aggressively meet those challenges rather than continue a trade policy stance he characterized as weak.

Meanwhile, with elections coming up, many Democrats are still wondering how so many blue-collar workers can support a billionaire president who’s proud to say that he's never changed a diaper. However, maybe they support Trump because they're smarter than the Dems give them credit for and they aren't looking for a leader to whom they can relate, but rather for one, who like them - and unlike the Democrats of recent memory - gets the irony:

https://www.youtube.com/watch?v=3z5oJeD5e5U&feature=youtu.be

 

[Gulo Blue]

TPP was sketchy as hell. I don't know everything that was in it, but I believe a lot of it was secret.


Seems like most people running for anything said they were against it, but at the time, it felt like it would be likely to happen.


Apparently, only the libertarians actually said they were for it.


https://ballotpedia.org/2016_presidential_candidates_on_the_Trans-Pacific_Partnership_trade_deal

 

[Gulo Blue]

Wolverine Jim Hackett, who came out of retirement to sign Harbaugh to Michigan and is now CEO of Ford, says the steel and aluminum tariffs have cost Ford $1B.



https://finance.yahoo.com/news/ford-ceo-says-trump-metals-121230013.html

 

[tigermud]

Worth it when it means more jobs for American steel, trump is fullfling his campaign promises to renegotiate these crap trade deals, China and Canada want to fight, that’s fine that’s what getting a fair deal is all about, trumps got this, former admins had years to address the imbalances, they failed, in fact they didn’t really do a damn thing beyond lip service, trump is the result of thier lip service and leaving the middle class in a ditch

 

[biggunsbob]

Worth it when it means more jobs for American steel, trump is fullfling his campaign promises to renegotiate these crap trade deals, China and Canada want to fight, that?s fine that?s what getting a fair deal is all about, trumps got this, former admins had years to address the imbalances, they failed, in fact they didn?t really do a damn thing beyond lip service, trump is the result of thier lip service and leaving the middle class in a ditch

LOL

Obama and the democrats had to saved the day after disastrous GOP policies and it will probably have to happen again once the trickle up tax doctrine fails again.

Trump should thank Obama !!!

http://www.latimes.com/business/la-fi-trump-obama-jobs-20180626-story.html

==================
Last 16 months under Obama Jobs grew by 2.4 % but not a peep out of the do nothing Gop lovers.. First 16 months under Trump job growth is at 2.1%

https://qz.com/1347200/the-jobs-created-under-trump-are-different-than-under-obama/
==========================================

Under Obama he created 4.3 million jobs compared to 3.8 for trump.

https://www.etftrends.com/trump-vs-obama-most-jobs-created-first-20-months/

 

[Spartanmack]

LOL

Obama and the democrats had to saved the day after disastrous GOP policies and it will probably have to happen again once the trickle up tax doctrine fails again.

Trump should thank Obama !!!

http://www.latimes.com/business/la-fi-trump-obama-jobs-20180626-story.html

==================
Last 16 months under Obama Jobs grew by 2.4 % but not a peep out of the do nothing Gop lovers.. First 16 months under Trump job growth is at 2.1%

https://qz.com/1347200/the-jobs-created-under-trump-are-different-than-under-obama/
==========================================

Under Obama he created 4.3 million jobs compared to 3.8 for trump.

https://www.etftrends.com/trump-vs-obama-most-jobs-created-first-20-months/

disastrous GOP policies? that's some nice revisionist history. Go back and see who led the charge to get banks to lend money to high risk borrowers and who laughed in the treasury secretary's face when he warned congress about the housing bubble and the risk at Fannie and Freddie.

https://www.youtube.com/watch?v=LPSDnGMzIdo

https://www.youtube.com/watch?v=iW5qKYfqALE

It's the GOP's fault that they let the Dems prevent them from trying to fix it, right?

 

[tigermud]

Looks like we are slowly but surely winning that trade war


https://www.reuters.com/article/us-...s-made-cars-revs-up-auto-stocks-idUSKBN1O208X


Keep up the great job trump!

 

[Thumb]

So Trump is saying China will cut the 40% tariffs on US made cars that were put in place as a result of Trump's trade policies in the first place.....

Wow, great job.

Now forget for a moment that China has not substantiated this claim yet or said how much they are lowering the tariffs, or when. But let's celebrate anyways! woooooo

 

[sggatecl]

So Trump is saying China will cut the 40% tariffs on US made cars that were put in place as a result of Trump's trade policies in the first place.....

Wow, great job.

Now forget for a moment that China has not substantiated this claim yet or said how much they are lowering the tariffs, or when. But let's celebrate anyways! woooooo

This is how it has appeared to me but I figured that was too obvious and I must've been missing something. Main reason I haven't commented.

 

[sggatecl]

As Lee Corso would say, "Not so fast my friend."

Stocks fall as declining U.S. yields, trade woes knock sentiment

TOKYO (Reuters) - Asian stocks fell on Wednesday, dragged by Wall Street’s tumble as sharp declines in long-term U.S. Treasury yields and resurgent trade concerns stoked investor worries about global economic growth.

Global equities have been shaken as a flattening U.S. Treasury yield curve - a result of a steep fall in longer-dated yields - fanned recession jitters and as U.S.-China trade conflict woes resurfaced after a temporary lull.

The Dow .DJI retreated 3.1 percent and the Nasdaq .IXIC sank 3.8 percent on Tuesday. Wall Street's financial shares .SPSY, which are particularly sensitive to bond market swings, dropped 4.4 percent. [.N] S&P e-mini futures ESc1 were down 0.3 percent in Asian trade on Wednesday.

 

[sggatecl]

Had never heard of this term before. Interesting read.

'Death cross' portends more near-term losses for U.S. stocks, then rebound

NEW YORK (Reuters) - More losses may be ahead for U.S. stocks in the short term, according to an indicator with a fittingly ominous name: the death cross.

A chart pattern tracked by technical analysts and other market mavens, a death cross forms when an index’s near-term moving average of daily closing prices falls below its long-term moving average as both averages are declining. The 50- and 200-day moving averages are commonly used.

On Friday, the S&P 500 Index .SPX, the U.S. benchmark for large stocks, joined the main gauge of small companies' share performance, the Russell 2000 , in forming a death cross.

It occurred as the S&P tumbled another 2.3 percent for its third straight daily decline. That pushed its 50-day moving average 3.7 points below its declining 200-day moving average, resulting in the first death cross since January 2016.

The S&P is now down 10.16 percent from its record close on Sept. 20.

Historically, the death cross has indicated a further fall for the index after the pattern emerges.

For instance, a death cross appeared on the Russell 2000 chart on Nov. 14 after it had fallen 13.7 percent from its all-time high closing level reached on Aug. 31. It has dropped another 3.6 percent in the three weeks since.