Tag: Jobs Loss

The Cost Of Tariffs

Welcome to May Day or the International Day of the Worker

I cannot believe that this needs repeating….but sadly it does.

But something of a conundrum….I see a lot of readers that are worried about their retirement with all the issues with DOGE and these same people when the topic of tariffs comes around they defend Donny’s tactics…they almost always reference the book “The Art Of The Deal” which at best is just bound toilet paper.

Onto the consequences of these damn silly tariffs….

For those that cannot quite grasp the reality of this pipe dream….the tariffs on a country like China or Canada is NOT…I repeat….I NOT paid by the country….NO it is paid by the US importers and is passed on to the consumer….that meaning YOU….at best it is just another tax that will be paid by the people of this nation.

Can you grasp the situation now?

No?

Tariffs cannot do certain things…(I try to keep it simple)

1. Tariffs can’t both create permanent domestic jobs and be a temporary negotiating tool.

2. Tariffs can’t both protect domestic industries and generate trillions of dollars in revenue.

Donny’s promise is that these tariffs will bring manufacturing and jobs back to the US….the estimates are that they will create about 100,000 jobs…good huh?  Think again….while destroying about 500,000 jobs….destroying jobs and screwing the people is not a good trade off in my opinion.

As that dynamic plays out across the whole economy, the tariffs will create more losers than winners. A Goldman Sachs report published this week estimates that Trump’s tariffs will create about 100,000 new manufacturing jobs (a result of supply chains shifting to the U.S., as the president wants) but will destroy 500,000 other jobs in the process.

That would reflect what happened during Trump’s first term, when his tariffs cost about 245,000 American jobs, by one estimate.

More layoffs are almost certainly coming.

https://reason.com/2025/04/18/trumps-tariffs-are-starting-to-kill-jobs/

To illustrate…did you see where Mazda has shuttered its US operation because of the tariffs?

Following President Donald Trump’s introduction of the “Liberation Day” tariffs, the first major car manufacturer has announced plans to halt production in the United States.

The president, who initiated blanket tariffs of 10% on all countries except Canada, Mexico, and China, 25% tariffs on imports from Mexico and Canada, as well as on all automobiles, and a 125% tariff on China, has not backed down from his stance and has even issued threats to other countries.

…

While the president has stated that his tariffs will bring manufacturing back to the United States, one automaker seems to be leaving instead.

Mazda has confirmed it will halt production of CX-50 vehicles bound for Canada due to the tariffs in the U.S. and the corresponding retaliatory measures enacted in Canada.

The company confirmed that production at its Huntsville, Alabama, plant will be suspended beginning on May 12.

If tariff policies remain unchanged and the plant stays closed for an extended period, the price of the CX-50 in Canada could rise further.

(msn.com)

There is word that Mack, the builder of those semis, will be doing some hard thinking and making some very hard decisions soon….jobs included.

can consumers have been shielded from much of the impact. But as the world of international shipping adjusts to his policies, the president is facing a potential reckoning.

With the US-China trade war starting to gum up container traffic between the world’s two biggest economies, freight companies are warning of plunging bookings and a surge in “blank sailings” – where ports are skipped or voyages are called off altogether.

Earlier this week, America’s most powerful retail executives trooped into the White House to deliver a blunt prognosis: tariffs on Chinese goods risked causing “empty shelves” in two weeks without a change of course.

The three companies who attended the meeting – Walmart, Target and Home Depot – are among the most exposed to the president’s policies, which include tariffs of up to 145pc on Chinese goods and higher port fees for Chinese-made vessels.

https://www.telegraph.co.uk/business/2025/04/25/trump-has-two-weeks-to-save-america-from-empty-shelves/

Most Americans do not understand tariffs….most still believe that say China will be paying….which is completely wro9ng….this article explains the confusion somewhat….

One of the hot-button issues in US politics lately? Tariffs. President Donald Trump has gone back and forth on the controversial issue, announcing tariffs on imports from other countries before later imposing delays. The results have been nothing short of disastrous — from retaliatory tariffs to deep stock market declines to rising prices. Some of this has come as a shock to Trump supporters and conservatives, who seemed to think tariffs would A) force other countries to foot the bill and B) drive business back to America.

https://www.buzzfeed.com/hannahmarder/31-americans-who-really-really-dont-understand-tariffs

I wish people would spend more time learning the mechanics of economics and less time worry about what some slutty bitch was wearing on Instagram….they would be better informed and better off in the lives.

Do I need to break it down further?

I Read, I Write, You Know

“lego ergo scribo”

Closing Thought–11Jan21

Remember in the days of yore (2020) when Donald the Orange use to chest thump along with the GOP about all the jobs he, Trump, had created?

Well looks like that has come to a screeching halt….

The relentless virus finally overtook new hiring. Employers shed 140,000 jobs in the US in December, reversing a trend of seven months of job growth, reports the Wall Street Journal. The unemployment rate stayed at 6.7%, which the AP notes is the first time it has not declined since April. Since employers shed 22 million jobs in the spring because of the pandemic, they had been rehiring workers at a steady clip prior to December. Despite the gloomy numbers, analysts saw reason for hope, at least for later in the year.

“It’s reasonably hopeful this will be a one-off rough patch and we’ll recover from there,” Barclays economist Pooja Sriram tells the Journal. The rollout of vaccines and expectations of more COVID relief in the Democratic-controlled Congress were among the factors he and other analysts cited. Eventual warmer weather should help, too. Still, the figure of 140,000 lost jobs was worse than the 50,000 expected by analysts, notes CNBC.

The pandemic surging is wrecking havoc on us mere mortals…..especially with jobs….

We can only hope that there are better days ahead….I really do not believe that a new president will make much difference…the real key is whether Daddy Warbucks wants to part with some of their profit.

May we all see better days.

I Read, I Write, You Know

“lego ergo scribo”

Jobs And Markets

The jobs report came out last week and it was not all that good as it was reported….

The new unemployment report is out, and it has a figure that in normal times would be strong: Employers added 245,000 new jobs in November. Meanwhile, the unemployment rate dropped from 6.9% to 6.7%. But in the context of the surging pandemic, the stat about new jobs is worrisome because it comes in well below expectations of 440,000, per the Wall Street Journal. The November figure is down sharply from 610,000 in October and marks the fifth consecutive month of a decline, per the AP. And CNBC notes that things will likely get worse for the economy in the next few months until vaccines are readily available.

As infection rates go down, as the number of people vaccinated goes up, then we’ll start to see … business activity expand at a faster rate, and we will see the employment numbers pick up more strongly,” David Berson of Nationwide Mutual Insurance Co. tells the Journal. For more context, the AP notes that the economy has recovered only 12 million or so of the 22 million jobs that were lost in March and April when the pandemic began. November’s figure of 245,000 new jobs is the lowest since April.

So while many Americans are with jobs and the crisis deepens there is good news for the bastards on Wall Street…..

A weaker-than-expected jobs report didn’t hurt the markets on Friday. In fact, it might have helped as Wall Street pushed further into record territory, reports CNBC. The Dow rose 248 points to 30,218, the S&P 500 rose 32 points to 3,699, and the Nasdaq rose 87 points to 12,464. All the gains were under 1%. “In a twist of irony, the bad jobs number is positive for markets today,” Keith Buchanan of Globalt Investments tells the AP. The idea is that the weak numbers will add to the pressure on Congress to reach a stimulus deal. “The market is telling us today that if the labor market continues to show slowing momentum, it’s much more likely the powers that be in DC agree to something that’s material,” says Buchanan.

So it is a positive note that Americans are without jobs and Christmas is on the horizon…..right?

Ain’t capitalism grand?

I Read, I Write, You Know

“lego ergo scribo”

A New Economic Solution

During this time of the pandemic and the loss of jobs the American people are suffering and the economic solutions of Donald the Orange have helped NO one but the already rich…..

Has anyone asked why this pandemic is harder on the economy than the 1918 pandemic which was far deadlier?

“Congress [has] a responsibility to make sure that people aren’t left behind,” a release from Harris says. “Every US resident” would receive a payment, even if they don’t have a Social Security number or didn’t file taxes last year. Debt collectors would also be forbidden from taking the payments. Forbes notes that it’s tough to see the billing passing as is, given that it would give a family of four $8,000 a month. That translates to $96,000 a year, above the median income of $62,000 in 2018. The bill is also competing for funds with similar ones in the works; the magazine notes that “while it is possible an additional stimulus bill may be passed, we will likely see major revisions that would reduce [the] total expenditure of this or other proposals.”

This catastrophe naturally hurt the economy. The Spanish Flu, unlike Covid-19, tended to kill people in their 20s and 30s — their peak productive years. Additionally, many cities responded to the threat the same way states are now with social distancing. These included closing schools and churches, banning mass gatherings, mandated mask-wearing and other restrictions.

https://www.bloomberg.com/opinion/articles/2020-05-06/why-coronavirus-is-punishing-the-economy-more-than-spanish-flu

A little historical perspective and now for the plan…..

A few senators have offered a new economic solution to help us mere mortals through this crisis…..

Americans who received a $1,200 stimulus check from the government to help mitigate financial losses during the coronavirus pandemic could now be coming to a sobering realization: It may not be enough. Three senators are saying the same, and they’ve just put forth a “big idea” to deal with the issue, per Politico. On Friday, Sens. Kamala Harris, Bernie Sanders, and Ed Markey unveiled the Monthly Economic Crisis Support Act, which would give a monthly $2,000 check to each American who makes less than $120,000 a year. Married couples filing jointly would get a total of $4,000, while each child (up to three of them per family) would bring in $2,000. The payments would be retroactive to March and would continue until three months after the virus emergency is officially declared over by Health and Human Services.

“Congress [has] a responsibility to make sure that people aren’t left behind,” a release from Harris says. “Every US resident” would receive a payment, even if they don’t have a Social Security number or didn’t file taxes last year. Debt collectors would also be forbidden from taking the payments. Forbes notes that it’s tough to see the billing passing as is, given that it would give a family of four $8,000 a month. That translates to $96,000 a year, above the median income of $62,000 in 2018. The bill is also competing for funds with similar ones in the works; the magazine notes that “while it is possible an additional stimulus bill may be passed, we will likely see major revisions that would reduce [the] total expenditure of this or other proposals.”

Does this sound like a plan that you would support?

Of course this will go NOWHERE….but it looks good on an resume for the next election….personally, I support the idea….

Spain has rolled out the idea of “universal income”…..

Spain is to roll out a universal basic income (UBI) “as soon as possible” to mitigate the impact of coronavirus.

Minister for economic affairs Nadia Calvino told Spanish broadcaster La Sexta on Sunday night that the move was intended to help families during the pandemic.

But Ms Calvino, who is also deputy prime minister, said the government’s ambition was that UBI could become something that “stays forever, that becomes a structural instrument, a permanent instrument”.

https://www.independent.co.uk/news/world/europe/coronavirus-spain-universal-basic-income-europe-a9449336.html

Any thoughts?

I Read, I Write, You Know

“lego ergo scribo”

Not Since The Great Depression

That is what is being said about the jobs loss thanks to the virus were are currently fighting…..our economy has lost 21 million jobs…..that is a rate of 14.5%……..

The monthly jobs report is out at 8:30am ET Friday, when we’ll find out just how grim the April employment numbers are. The March report was “shocking,” without even showing the true brunt of the coronavirus pandemic’s impact since the relevant surveys end mid-month. Media outlets are frequently using words like “devastating” to describe what’s in store for the April report. It’s not unexpected, of course, as millions upon millions have been filing for unemployment for weeks, but as the New York Times explains, it’s the monthly report more so than the weekly unemployment numbers that is generally scrutinized “for evidence of how the economy is evolving.” More:

  • Just how bad? CNBC reports that the report is expected to show that the US lost a record 21.5 million jobs last month. We could also see the highest unemployment rate since 1939, at the end of the Great Depression and shortly before World War II.
  • More on that unemployment rate: Analysts are predicting it’ll hit 16%, which would indeed make it the worst rate since the Great Depression. But they say it could range anywhere from 11% to 20% due to the way individuals are surveyed by the government. It also depends on whether furloughed employees identify themselves as employed or unemployed.
  • A preview: ADP’s April payroll report was released Wednesday, and showed 20.2 million private-sector jobs lost.
  • Perspective: The Washington Post reports that if 22 million jobs are shown to have been lost, as some analysts expect, that’s “the equivalent of all those added over the past decade” and 10 times more than the previous record, set during World War II. During the Great Recession, the worst monthly job loss was 800,000, in March 2009.
  • What the report will tell us: “It’s understood leisure and hospitality and retail have seen a large displacement of workers, and that’s apparent in the claims numbers,” but the job report details showing what other industries are most affected will be very telling, says an expert. “The extent that has spread across the economy will tell us a lot, and the more it has spread, the more challenging it will be to return to normal.” If the losses remain mostly contained to industries directly affected by the pandemic, recovery could be quicker.
  • But it still won’t show the full picture: As NPR notes, not only have millions more jobs once again been lost since the surveys for the report were taken in mid-April, the unemployment rate “includes only people who are actively looking for work and those on temporary furlough, ignoring millions more who have been involuntarily idled by the pandemic.”
  • A sobering read: The aforementioned Times piece, written by Neil Irwin, who has covered the monthly jobs report release for 13 years, is worth a read in full. “And now, in a single month, a decade’s worth of progress—measured, in my case, by waking up early on 120 or so Friday mornings and analyzing tables that showed gradual, consistent hiring—has vanished,” he writes. “The employment situation summary at the start of this year was the best it had been in the 13 years I have obsessively tracked these numbers, and a lot of good things were starting to happen for a lot of people as a result. And now, it’s gone.”

If you do not like that analysis then here are a couple other sources to look at…..

https://apnews.com/623da121a91a4951b3bcde201a46120d

Ask yourself one question….how can such a dire prediction have the markets still doing well…..who does the economy represent?  I know the answer….do you?

Most Americans think it is too early to push for this re-opening of the Trumpian minions…..

In their latest poll (conducted May 3-5), The Economist/YouGov found that only 11 percent of adults believed it was safe to end social distancing and reopen businesses right now. Six percent said it would be safe in about two weeks, and another 19 percent said it would be in a month or so. A plurality (29 percent) thought it would take several months, and 15 percent even said a year or longer. A Morning Consult survey taken April 29-30 found that just 20 percent of registered voters thought the economy should reopen in April (i.e., immediately) or May, 37 percent said June or July, 16 percent said August or September, and 12 percent said October or later. And a May 5 poll from Global Strategy Group and GBAO for left-leaning firm Navigator Research found that 60 percent of Americans opposed reopening the country in the next few weeks, versus 36 percent who supported it. Finally, a May 2-5 poll by Civiqs for Daily Kos asked respondents flat out whether they supported having a stay-at-home order in place in their state: Sixty-five percent said yes, and 29 percent said no.

Most Americans Think It’s Too Soon To Return To What Life Was Like Pre-Pandemic

And yet……we are starting to allow people to return to the economy…but they suggest they continue to wear masks…..there is NOT enough cops to enforce that rule….so be prepared for the next surge of cases.

You Asked For It…..You Got It!

I Read, I Write, You Know

“lego ergo scribo”

AI Is Coming For Your Job

Saturday cooler temps and a MoMo that is ready to go outside and chase something…matter not what….

Many people have been showing how AI will effect our society in the future……the one that most concerns me is the loss of jobs….

To begin with the prediction that half of all jobs will to lost in the future….

Almost half of all current jobs will become obsolete in just 15 years, according to one of China’s leading experts in artificial intelligence (AI).

Kai-Fu Lee, a writer, venture capitalist and technology executive who has over 30 years’ experience in AI, claims the world of employment is facing a crisis. He’ll appear on CBS 60 Minutes on Sunday to spread the word and warn those most at risk so they can start retraining for the new world. Lee also warns that education will need to adapt to prepare younger generations for the new landscape.

AI may be the future, but it can’t do everything, claims Lee, who says certain professions are safe from the revolution. Especially those that involve empathy or human to human interaction like therapists, nurses, teachers or doctors. Innovative and creative professions are also safe because AI generally struggles to do the work of scientists or to deal with the unknown.

https://www.rt.com/news/448524-ai-jobs-future-robot/

That is worldwide…but what will the predicted impact of AI will have on US jobs?

Robots aren’t replacing everyone, but a quarter of U.S. jobs will be severely disrupted as artificial intelligence accelerates the automation of existing work, according to a new Brookings Institution report.

The report, published Thursday, says roughly 36 million Americans hold jobs with “high exposure” to automation — meaning at least 70 percent of their tasks could soon be performed by machines using current technology. Among those most likely to be affected are cooks, waiters and others in food services; short-haul truck drivers; and clerical office workers.

“That population is going to need to upskill, reskill or change jobs fast,” said Mark Muro, a senior fellow at Brookings and lead author of the report.

Muro said the timeline for the changes could be “a few years or it could be two decades.” But it’s likely that automation will happen more swiftly during the next economic downturn. Businesses are typically eager to implement cost-cutting technology as they lay off workers.

https://www.marketwatch.com/story/ai-is-set-to-replace-36-million-us-workers-2019-01-24

30 million jobs….that is about 30 times as bad as the government shutdown has become.

Sorry to be a downer on this weekend but everyone needs to plan for the possibility of this loss.

Time for me to try and get some pruning of the fruit trees in….that will give MoMo something to play with…..

It’s Jobs, Jobs, Jobs!

Making America Great Again!  Apparently we do this by helping China’s ZTE corporation……wait for the WTF!

Remember all those jobs that the president said would come flowing back to the shores of America? 1.7 million jobs created in 2017…..compared to 2.2 million created in 2016….I feel confident that we will have a new day in this country any time now.

Trump is planning to save jobs in China….you heard me….CHINA…..that is the nation of China not China, New Mexico….

President Trump surprised the business world Sunday by saying Washington would help keep the Chinese telecommunications giant ZTE alive—right after US sanctions had crippled it, the New York Times reports. “President Xi of China, and I, are working together to give massive Chinese phone company, ZTE, a way to get back into business, fast,” tweeted Trump. “Too many jobs in China lost. Commerce Department has been instructed to get it done!” The Commerce Department last month imposed a seven-year ban on US companies shipping technology to ZTE, saying it had allowed workers to disregard US trade controls on North Korea and Iran.

Then ZTE, which has 70,000 workers across 160 countries, announced Wednesday that it was stopping “major operating activities.” So, what’s up? “Given his pressure on Beijing on trade, I don’t understand concern for Chinese jobs,” says technology and security expert Adam Segal. In fact, many analysts are “initially scratching their heads,” the Times says, while the Wall Street Journal calls Trump’s about-face “extraordinary.” Reuters notes that US suppliers like Intel and Qualcomm will likely suffer “a significant impact” from the Commerce Department ban. American companies are said to supply 25% to 30% of components used by ZTE, which makes smartphones and gear for telecom networks.

So Trump is going to help save jobs for a Chinese company…that ought to give all those workers that lost their jobs when Harley-Davidson closed their plant to move to Thailand so much confidence and a warm feeling while they try to get some unemployment hopefully they will not suffer the insult of being called a freeloader for needing help.

Also keep in mind that ZTE is one of the companies that has software to make a security breech easy……we will help save jobs and help make security violations so much easier.

That should “Make America Great Again”.

Closing Thought–08Jan18

Those darn pesky facts

Trump recently signed a tax cut bill and several companies showed  their appreciation by giving its workers a bonus or a raise……and Trump had to proclaim these companies as forward looking and a credit to his “America First” agenda……but as usual Trump is a bullshit artist….

Companies like ComCast and AT&T were held up by Trump….well let’s look at the crap…..some are laying off workers…….but the tax bill saved them cash and they want to keep it…..

Comcast and AT&T were among the businesses that claimed Republican lawmakers’ effort to restructure the tax code in favor of wealthy corporations would allow them to be more generous to their workers, and publicly announced $1,000 year-end bonuses for their employees. The CEOs of both companies specifically cited the tax bill in separate press releases touting these “special” bonuses.

https://thinkprogress.org/companies-gop-tax-bonuses-layoffs-fdf07fdf90d2/

As usual the reality never gets reported for if they do then they are labeled “Fake News” by our mental deficient president…..somehow Obama will get the blame…..

My writing is getting old for the day….I will shut it down and rest for tomorrow’s stuff….chuq

Please, Take My Job!

Just last week I wrote a closing thought about robots and the jobs that are lost because of their use…..you may check out the post here…..

I, Robot I recall many years ago when the news of the first robots being used by the auto industry was all the talk…..of course the pro side was that they would do hazardous work and thus wou…

Source: Closing Thought–14Feb17 – In Saner Thought

To be truthful it was a negative post on the loss of jobs…so when I read this article to the contrary I felt I needed to post it also……there is always 2 sides to every report, right?

Over the next 15 years, 2 to 3 million Americans who drive for a living – truckers, bus drivers and cabbies – will be replaced by self-driving vehicles, according to a December 2016 White House report on the ascent of artificial intelligence (AI). An estimate by the University of Oxford and Citi, a bank, predicts that 77 percent of Chinese jobs are at risk of automation over roughly the same period.

Millions of people around the world would lose their jobs under these scenarios, potentially sparking mass social unrest and upheaval.

Source: Robots are taking jobs, but also creating them: Research review – Journalist’s Resource Journalist’s Resource

While I was writing this update I found yet another  piece about robotics and jobs…..this time it is something that Bill Gates had to say……

Job-stealing robots should be taxed the same as humans, Bill Gates says. “If a robot comes in to do the same thing, you’d think that we’d tax the robot at a similar level,” the Microsoft founder tells Quartz. He says governments should tax companies that replace workers with machines and use that money to fund jobs that can only be performed by humans, such as caring for children and the elderly. In what is perhaps a surprising declaration for a man who built his fortune through innovation, the billionaire philanthropist contends the pace of automation in job-killing industries ought to be slowed, and taxes can help do that. “It is really bad if people overall have more fear about what innovation is going to do than they have enthusiasm,” he says.

While the European Parliament last week nixed a robot tax for now, notes the Telegraph, such a levy is being pushed by the French socialist candidate for president. But the idea of taxing machines is picking up steam even in the unlikely climes of Silicon Valley, which seems to favor the customers, not the industry, footing the bill, per the Financial Times. But the world’s richest man doesn’t think manufacturers would mind paying up. “I don’t think the robot companies are going to be outraged that there might be a tax,” he says. “It’s OK.” Skeptics took to Twitter, blaming Microsoft’s own technology for lost human jobs. (Read the full interview here.)

This is a fascinating debate….I can see both sides of this issue….but then there are the workers….many promises are made and seldom followed through….how will this situation be resolved?

A good question for a rainy day.

More Free Trade Pacts?

Back in the 1990’s, I wrote several pieces about what the proposed free trade acts would do to the economy in this country…I believed then that they would do NOTHING good and on the contrary would cost American jobs and loss of industry…of course, in those days I was called a commie for NOT wanting to see a free trade act….not much has changed……….I am still called a commie more likely a socialist but not many know the difference……why do I rehash the past?

Well, guess what?  The Obama admin is proposing a…..wait for it……a free trade act……that is right…yet another free trade agreement……

This time it is agreement with Panama, Columbia and South Korea and the White House has said that it will create American jobs…..really?  Is that not what NAFTA was suppose to do?  Don’t hurt yourself…..that was the promise.  Now if anyone recalls, candidate Obama said that reforming NAFTA to make it more worker friendly would be a priority for his admin…..that was pretty much a lie…there has been NO reform of NAFTA.  It seems that the Obama admin has allowed corporate America to write up these newest proposals….and guess what?   It will put millions of Americans back to work……REALLY?

If that is true why would they say this?

The Obama administration said on Monday that it would not seek Congressional approval of free trade agreements with Colombia, Panama and South Korea until Republicans agree to expand assistance for American workers who might lose jobs as a result… The announcement puts the White House in line with Congressional Democrats who have made expanded benefits a condition of their support for the trade deals.  (Quoted from the NY Times)…

Let me see if I have this right?  The trade agreements will create jobs but before it goes into effect the Congress must make provisions for any job loss that is created by the agreement……..”The administration is simultaneously selling the trade deals as engines of job growth while admitting that the deals will likely kill so many American jobs that Congress must preemptively cough up money to clean up the corresponding economic wreckage.”  (Quoted David Sirota in Salon.com)….

You still do not think it is all one big game in Washington?  Just once I would like for the American people to get all the info before they go off half cocked….I know….a silly notion!