Church of Jeff
ferricoxide@jeffowski
It's going to be about as delicious as the whining that comes from the owners of 9mpg ginormous trucksters and SUVs whenever gas prices jump.
Veada@jeffowski Bye bye Dollar Tree, Family Dollar, Dollar General, and all .99 stores.
食 Shoku the Umbreon@jeffowski That's probably why Captain Cheeto announced that he's going to purposely crash the economy.
mike805@jeffowski Tariffs are not inflationary. Yes they raise prices, but the money goes to the Federal government and displaces the same amount of deficit spending (money creation) so the net effect is zero.
It's not smartphones and TV sets that are unaffordable. It's housing and health care, and those do not come in from China on a container ship. So this might make people better off.
draeath@mike805 @jeffowski I'll give you the benefit of the doubt on what the effects will be, but I'll state that any positive outcomes will be entirely accidental and not done with intention.
Random Damage 🌻@mike805 @jeffowski most people consider increasing prices to be inflation.
While there are other definitions from an economics perspective, it will indeed be inflationary as far as most American's wallets are concerned
Joe ❌👑@mike805 @jeffowski What you are missing is that the feds will have to immediately give that money out again. Last time Trump tried jacking up tariffs the retaliatory tariffs killed farm exports, so they dedicated almost all of the money they received to bail out farmers.
JoeChip@mike805 @jeffowski
Tariffs are basically a form of capital controls. They limit trade, and thus transnational currency movement. In extremis they have the potential of triggering a deflationary collapse a la Smoot-Hawley.
Tariffs are basically a form of capital controls. They limit trade, and thus transnational currency movement. In extremis they have the potential of triggering a deflationary collapse a la Smoot-Hawley.
The Penguin of Evil@mike805 @jeffowski The net effect is zero anyway. The Chinese response to the US EV tariffs has been to open factories in Mexico. They'll just start doing final manufacture of everything else in Mexico instead. Great for Mexico.
Same is happening in the EU with EV tariffs, EV plants are opening in Hungary. They learned from the Japan saga. Move some production over, employ lots of people in that trade bloc, keep the politicians happy.
@etchedpixels @jeffowski I wish the American carmakers would make really good plug-in hybrids, with LiFePo4 batteries designed to last 20 years. I'd love to have a plug-in but good luck getting a Prius Prime right now.
Clearly the big 3 are not going to win on pure EVs. The USA is not exactly friendly to pure EVs anyway, so they should try to make the world's best plug-in hybrids. Right now that's Toyota.
@mike805 @jeffowski EU carmakers are also obsessed with making giant overpriced monsters full of phone home garbage tech so if they don't wake up they'll get crushed.
UK is still heavy on plug in hybrid. Most people don't actually use the petrol bit but they aren't willing to give up the safety net even though unlike the US "I'll just get the train" is an option for most things.
UK is still heavy on plug in hybrid. Most people don't actually use the petrol bit but they aren't willing to give up the safety net even though unlike the US "I'll just get the train" is an option for most things.
@etchedpixels @jeffowski The Chinese EVs are full of "telematics" and apparently Chinese people love that stuff. They just report to a different Big Brother. If the US car makers had a good plug-in hybrid that did not have spyware I'd buy it and so would a lot of people.
The Toyota is bad in that regard. The navigation is subscription cloud-based and does not work if you disable the built-in wireless modem.
Hugo@mike805 @jeffowski trying to understand this one from a consumer perspective. If pay more for a product, where would I see the benefit to make it a net zero effect?
Is there an economic term this refers to that I can look up?
@Chiquidrakula @jeffowski Your groceries and gas cost less because there was less inflation because the government printed less money. So you can afford to pay more for your TV and iPhone.
@mike805 @jeffowski Thanks for the reply. I’m not following seems that it is more complicated.
I read this article which seemed good on the overall tariffs effects:
https://www.theatlantic.com/politics/archive/2024/09/economic-arguments-tariffs-trump/680015/
I don’t understand the connection between groceries and gas since they are independent companies not government entities. They will set their own prices. I work in agriculture and don’t see how the tariffs on one side (tv and cell phone) will circulate back in order for our product to be priced less.
I want to start a sports apperal clothing company. That’s why the tarriffs are of interest.
Have a good day!
Glenn@jeffowski They will be able to reduce the highest income tax bracket. All the money from that given to the rich will trickle down.
bouriquet@jeffowski Do you really think that China will tolerate that? Reduced spending by the US would cripple Chinese production, maybe cause unrest. Where would Trump have us buy stuff from, Russia?
@bouriquet @jeffowski China will do what they did last time Trump tried this, and either refuse to buy US corn, soybeans etc. or impose a correspondingly huge tariff.
@not2b @jeffowski That’s a good way to scold all of the big midwestern farmers that supported Trump. Sorry guys, everything has a cause and effect.
Nicole ParsonsTrump plans to setting up his own equivalent to China's slave labor "re-education" camps and Putin's gulags.
Detainees will work for pennies for Wal-Mart and Amazon for the "crime" of being a climate refugee, a rape victim that sought an abortion, or a political opponent.
Republicans do nothing but reward their donors.
https://www.huffpost.com/entry/trump-deportation-plans-private-prisons-opportunity_n_672d3faae4b01e5999fc97c0
OtownKim@Npars01 @jeffowski For Profit Prisons are already slave Labor Camps. Have been for years.
$11 billion of goods & services comes out of the existing prison system.
https://www.rollingstone.com/politics/politics-news/california-slavery-prison-vote-election-2024-1235155591/
https://en.m.wikipedia.org/wiki/Penal_labor_in_the_United_States
Imagine that ballooning with an influx of inmates...
https://en.m.wikipedia.org/wiki/GEO_Group
https://en.m.wikipedia.org/wiki/CoreCivic
The same GOP billionaires that invest in private prisons are also investors behind the privatization of schooling & surveillance systems.
https://www.texastribune.org/2024/01/16/greg-abbott-jeff-yass-camapaign-donation/
https://www.forbes.com/sites/walterpavlo/2024/11/06/the-bureau-of-prisons-under-a-trump-administration/
They are also lobbying ...
1/2
@Npars01 @jeffowski Yep!! The dumbasses have been "had!". Good luck to them. At this point I'm enjoying my portfolio. I'm going to start acting like them. I'll never ever vote for the R filth, but I will surely accept the rewards for now! Then take my profit and mattress that shit! 🤣😜
Profits from human misery makes people complicit, no different than those who bought cotton textiles from Southern slave owners...
That's why slavery is so hard to eliminate, it becomes entangled in every aspect of the economy.
Very hard to disentangle it without a war
2/2
...hard for the same type of "freedom from litigation" that the gun lobby enjoys. They can then maximize profits by cutting costs on food, medical care, clothing,...
https://www.cnbc.com/2024/04/09/jeff-yass-millions-to-influence-schools-courts-and-markets.html
Lucrative no-bid contracts coming for high schools and detention centers.
https://www.governing.com/archive/gov-private-food-service-prisons-aramark-trinity-ohio-michigan.html
https://www.investors.com/news/trump-stock-winners-core-civic-geo-group-biggest-week-since-2016/
@Npars01 @jeffowski I know it's temporary but I'm going to enjoy my $$ while I still can!!!
@jeffowski
His major donors stand the most to lose. Won't happen or my name ain't Igor Stravinsky.
His major donors stand the most to lose. Won't happen or my name ain't Igor Stravinsky.
Urzl@jeffowski I assume they think the "free market" will magically create equivalent cheap domestic supplies.
It won't but maybe eventually the slave labor in the concentration camps will.
Janek Bevendorff@jeffowski Wait until they realise how much more expensive an iPhone can still be.