Our Trade War With China! Who’s gonna win and who gonna lose?
With all the words flying around about this legal aspect or another…..the news on our trade war with China takes a back seat…..but I think it needs to be in the forefront……
I found an article that tells the winners and losers in this trade war (I am hoping that you will actually read the referenced article)…..areas of our economy like technology, agriculture, steel, etc……
U.S. companies in everything from computer chips to tractors have said President Donald Trump’s trade wars, including disputes with Beijing and global steel tariffs, have had an impact on them.
Even for some of the expected winners, such as steel companies, the benefits of the president’s tariffs are not entirely clear.
Trump said on May 5 he would raise tariffs on $200 billion (£159 billion) worth of Chinese goods from 10% to 25%, ratcheting up pressure on Beijing to agree to a deal.
And yet the markets have not tanked on the bad news for the bigger of our corporations…..
Is this a good thing…… these tariffs?
This “Booming Economy” that we hear about from Trump, the GOP and others is looking a lot like the economy……wait for it……under Obama…..
In some key ways, the Donald Trump economy, on fire last year but slowing this year, is starting to resemble the one he inherited from his predecessor .
There are the rock-bottom bond yields, plodding economic growth and, not to be understated, the Federal Reserve seemingly pulling all the strings, a role that was only exacerbated in the days since the financial crisis and Great Recession and continues to the present day.
Those similarities came into even sharper focus this week, when the benchmark 10-year Treasury note yield fell below 2% for the first time since Trump became president, and the Fed’s indication, if something just short of an outright promise, that it soon will be cutting rates about half a year since its most recent hike.
It wasn’t supposed to be this way: The 2017 tax cut and aggressive moves toward deregulation were supposed to pull the U.S. economy out of its glacial move higher. That happened in 2018, but policymakers and Wall Street pros are growing increasingly fearful that a slowdown if not outright recession is on the horizon, and the Fed is being asked again to ride to the rescue.
Oh Snap! All the comparisons to what Obama did…will this make the list for Supreme Beloved Leader?
Me thinks this news will not see the light of day.
There is other news that is missed by the MSM……some economists are predicting a crash is coming…..but can Trump hold it off until after the election…..
If he times it right, Donald Trump might set back the Democratic Party for a generation or more; if he misses, he’ll go down in history along with Herbert Hoover as the guy who brought the nation an economic disaster.
Back in 2007 and early 2008, many of us were convinced that an economic crash was coming, and that George W. Bush and his Treasury secretary, Henry Paulson, and Fed chairman, Alan Greenspan, knew it.
And we also thought that they were doing everything they could to hold it off so it would happen after the 2008 election, so if a Democrat was elected they could say the crash was because people were “worried about the incoming Democrats,” and if McCain won it would be his problem, not Bush’s.
What do you think?
Would a crash change your mind on voting this time around?