The Economy

[MajorRewrite]

Heavy equipment company Caterpillar increased its estimated TrumpTariff hit this year from $1.5 billion to $1.8 billion. Billion with a B.

 

[ChloeTzang]

U.S. shoppers see order cancellations as world shuts down America-bound shipments​

U.S. shoppers ordering smaller goods from abroad are being met with waves of cancellation notices ahead of a key trade rule change ordered by the Trump administration. On Friday, the United States will end the nearly century-old de minimis exemption, which allowed items worth less than $800 to be shipped to the country duty-free, or without having to pay any tariffs. In advance of the official termination date for the exemption, many European nations, alongside Australia, India, Japan, South Korea, Taiwan, Thailand and New Zealand, have announced temporary suspensions of U.S.-bound shipments. U.S. e-commerce hubs have since posted notices warning customers about shipping disruptions. Last week, Etsy announced it would no longer process purchases for goods sent via Australia Post, Canada Post and the United Kingdom’s Evri and Royal Mail services, in anticipation of those firms shutting down U.S. deliveries. “Given the complexities, legal requirements, and poor experience, many postal providers will be suspending” delivery options to the U.S., Etsy said. Online auction site eBay has likewise warned that sellers who rely on foreign postal services will have to find alternative shipping processors to get their products to U.S. customers.

But private, third-party carriers which may already have tariff-collection systems in place can cost as much as four times the amount of sending an item via regular post, said Alison Layfield, vice president of product development at ePost Global, a California-based logistics firm. “Customers are going to be very shocked,” she said.

Administration officials have argued that anyone affected by the change should simply switch to U.S.-based suppliers. Seriously, they're out to lunch and probably a few sausages short of a full BBQ along with it. For a lot of what's ordered, there are no US-based suppliers. Sometimes it's speciality items, sometimes it's low cost items that are simply uneconimic to make in the US.

While foreign postal systems have no problem making deliveries to the U.S., they don’t have systems in place to process a tariff and pay it into the U.S. Customs and Border Protection, Layfield said. In essence, the Trump administration is now asking foreign mail carriers to act as import tax collectors on behalf of the U.S. government — something they are not set up to do, or may be refusing to do, she said. “Why would a foreign post collect from a local business for a foreign country’s customs?” Layfield said. ”It’s not something that anyone has done before.” And with tariff rates changing all the time at the whim of the nutcase President, why would they?

https://www.msn.com/en-ca/money/com...S&cvid=68b16349a7404e3aae0cfb080b56d760&ei=25

 

[heathrowinneo]

U.S. shoppers see order cancellations as world shuts down America-bound shipments​

U.S. shoppers ordering smaller goods from abroad are being met with waves of cancellation notices ahead of a key trade rule change ordered by the Trump administration. On Friday, the United States will end the nearly century-old de minimis exemption, which allowed items worth less than $800 to be shipped to the country duty-free, or without having to pay any tariffs. In advance of the official termination date for the exemption, many European nations, alongside Australia, India, Japan, South Korea, Taiwan, Thailand and New Zealand, have announced temporary suspensions of U.S.-bound shipments. U.S. e-commerce hubs have since posted notices warning customers about shipping disruptions. Last week, Etsy announced it would no longer process purchases for goods sent via Australia Post, Canada Post and the United Kingdom’s Evri and Royal Mail services, in anticipation of those firms shutting down U.S. deliveries. “Given the complexities, legal requirements, and poor experience, many postal providers will be suspending” delivery options to the U.S., Etsy said. Online auction site eBay has likewise warned that sellers who rely on foreign postal services will have to find alternative shipping processors to get their products to U.S. customers.

But private, third-party carriers which may already have tariff-collection systems in place can cost as much as four times the amount of sending an item via regular post, said Alison Layfield, vice president of product development at ePost Global, a California-based logistics firm. “Customers are going to be very shocked,” she said.

Administration officials have argued that anyone affected by the change should simply switch to U.S.-based suppliers. Seriously, they're out to lunch and probably a few sausages short of a full BBQ along with it. For a lot of what's ordered, there are no US-based suppliers. Sometimes it's speciality items, sometimes it's low cost items that are simply uneconimic to make in the US.

While foreign postal systems have no problem making deliveries to the U.S., they don’t have systems in place to process a tariff and pay it into the U.S. Customs and Border Protection, Layfield said. In essence, the Trump administration is now asking foreign mail carriers to act as import tax collectors on behalf of the U.S. government — something they are not set up to do, or may be refusing to do, she said. “Why would a foreign post collect from a local business for a foreign country’s customs?” Layfield said. ”It’s not something that anyone has done before.” And with tariff rates changing all the time at the whim of the nutcase President, why would they?

https://www.msn.com/en-ca/money/com...S&cvid=68b16349a7404e3aae0cfb080b56d760&ei=25

The lack of thinking and foresight by this administration is no longer surprising. The damage being done is expected.

While the economy continues to chug along so does inflation. The end of the year and 1q 2026 will be interesting given the tariffs and changes to aggregating data.

 

[1984X2024]

U.S. shoppers see order cancellations as world shuts down America-bound shipments​

U.S. shoppers ordering smaller goods from abroad are being met with waves of cancellation notices ahead of a key trade rule change ordered by the Trump administration. On Friday, the United States will end the nearly century-old de minimis exemption, which allowed items worth less than $800 to be shipped to the country duty-free, or without having to pay any tariffs. In advance of the official termination date for the exemption, many European nations, alongside Australia, India, Japan, South Korea, Taiwan, Thailand and New Zealand, have announced temporary suspensions of U.S.-bound shipments. U.S. e-commerce hubs have since posted notices warning customers about shipping disruptions. Last week, Etsy announced it would no longer process purchases for goods sent via Australia Post, Canada Post and the United Kingdom’s Evri and Royal Mail services, in anticipation of those firms shutting down U.S. deliveries. “Given the complexities, legal requirements, and poor experience, many postal providers will be suspending” delivery options to the U.S., Etsy said. Online auction site eBay has likewise warned that sellers who rely on foreign postal services will have to find alternative shipping processors to get their products to U.S. customers.

But private, third-party carriers which may already have tariff-collection systems in place can cost as much as four times the amount of sending an item via regular post, said Alison Layfield, vice president of product development at ePost Global, a California-based logistics firm. “Customers are going to be very shocked,” she said.

Administration officials have argued that anyone affected by the change should simply switch to U.S.-based suppliers. Seriously, they're out to lunch and probably a few sausages short of a full BBQ along with it. For a lot of what's ordered, there are no US-based suppliers. Sometimes it's speciality items, sometimes it's low cost items that are simply uneconimic to make in the US.

While foreign postal systems have no problem making deliveries to the U.S., they don’t have systems in place to process a tariff and pay it into the U.S. Customs and Border Protection, Layfield said. In essence, the Trump administration is now asking foreign mail carriers to act as import tax collectors on behalf of the U.S. government — something they are not set up to do, or may be refusing to do, she said. “Why would a foreign post collect from a local business for a foreign country’s customs?” Layfield said. ”It’s not something that anyone has done before.” And with tariff rates changing all the time at the whim of the nutcase President, why would they?

https://www.msn.com/en-ca/money/com...S&cvid=68b16349a7404e3aae0cfb080b56d760&ei=25

FAKE NEWS

 

[ll74]

FAKE NEWS

Nope

https://twitter.com/x/status/1960839774966616184

 

[1984X2024]

random guy on X

 

[ll74]

random guy on X

Yep - I made sure to grab your normal source of information to corroborate because I wanted to make sure to use your research methods.

 

[MajorRewrite]

The core inflation rate ticked higher again. Core PCE Index is 2.9%.

This is the inflation index favored by the Fed.

 

[RobDownSouth]

The core inflation rate ticked higher again. Core PCE Index is 2.9%.

This is the inflation index favored by the Fed.

I wonder why the PCE specifically excludes food?
Is food that volatile?
It would seem that poorer people spend a greater percentage of their meager budget to put "food on their family" as Dubya once said.

 

[Biglibido99]

I wonder why the PCE specifically excludes food?
Is food that volatile?
It would seem that poorer people spend a greater percentage of their meager budget to put "food on their family" as Dubya once said.

Yea, as I asked - what rises are people experiencing with rent, food & utilities?

 

[MajorRewrite]

I wonder why the PCE specifically excludes food?
Is food that volatile?
It would seem that poorer people spend a greater percentage of their meager budget to put "food on their family" as Dubya once said.

There are two versions. The PCE includes food and energy. The Core PCE doesn’t.

Yes, food prices are volatile and are often impacted by things other than general inflation (such as bird flu).

It’s worth noting Core PCE increased 0.3% from month-to-month, a 3.6% annualized rate.

 

[Biglibido99]

There are two versions. The PCE includes food and energy. The Core PCE doesn’t.

Yes, food prices are volatile and are often impacted by things other than general inflation (such as bird flu).

It’s worth noting Core PCE increased 0.3% from month-to-month, a 3.6% annualized rate.

Ah, I see, thanks.

 

[domroger]

Wondering how many billions the arms industry has lost since the tariffs were introduced,with contracts being cancelled and new ones going elsewhere,tried Google but no one is keeping track.

 

[ll74]

So the tariffs are illegally implemented

.neat.

 

[Rotadom]

So the tariffs are illegally implemented

.neat.

 

[Rotadom]

Just to upset the s here.

 

[MajorRewrite]

US manufacturing mired in weakness

TrumpTariffs are intended to boost US manufacturing, but manufacturing is shrinking instead. Contraction has continued for six straight months.

U.S. manufacturing contracted for a sixth straight month in August as factories continued to grapple with the impact of import tariffs, but an artificial intelligence spending boom is lending support to some segments of the industry.

The Institute for Supply Management (ISM) said on Tuesday its manufacturing PMI edged up to 48.7 last month from 48.0 in July. A PMI reading below 50 indicates contraction in manufacturing, which accounts for 10.2% of the economy.

 

[MajorRewrite]

Total construction spending continued its slide in July. It peaked in May 2024.

 

[Biglibido99]

Just to upset the s here.

View attachment 2561296

The rich, properly managed & profitable blue states should stop paying taxes to gov which is only propping up the fucktards in the poor, improperly managed, red states. After all the red states are trying to redistrict so they can illegally gain/hold onto power and punish the blue states as that's there main motivation

 

[Pad_Foot]

The other major powers are meeting to go around us entirely

Genius at work

Or .. Russian Puppet ??

 

[MajorRewrite]

Job openings declined

But there are still more than 7 million job openings available.

 

[Bray123]

https://imgur.com/B37m7eh

 

[Biglibido99]

https://imgur.com/B37m7eh

Yep, and the idiots lap it up - just like Mexico built the wall - he treats his cult like the fools that they are while he's in crypto heaven verifying a fortune from home and foreign lobbyists - all in it for what they can get out of it before the system collapses

 

[heathrowinneo]

https://imgur.com/B37m7eh

If they dont understand tariffs and Taxes or believe in the bs fox spews, they think its good for them.

 

[MajorRewrite]

There are more Americans out of work than there are jobs open for the first time since April 2021

The latest JOLTS report from the Bureau of Labor Statistics showed that the ratio of job vacancies to unemployed workers fell below 1 to 0.99 in July, the lowest since April 2021, when the ratio was 0.96.

"Unemployed workers are staying out of work for longer, even as layoffs remain low,” Indeed economist Allison Shrivastava told Yahoo Finance in an email. "This suggests the shift is less about an increase in people losing jobs and more about a decline in job openings."

The employment situation is still good, historically speaking, but it is gradually going the wrong way.