The Economy

[nowisthetime]

Maga doesn't get that we are all interconnected. If people are broke, wouldn’t that eventually affect millionaires and billionaires too? After all, when the majority of people can’t afford basic goods and services, businesses suffer especially those that depend on consumer spending. The economy isn’t sustainable if wealth is concentrated at the top while the base crumbles. You shatter the base, everything gets screwed. That's why that BB cock of shit bill needs to perish.

 

[ishtat]

A few weeks back the market (particularly International) was surprisingly reluctant to buying the then tranche of US government Bonds. A few days ago you may have noticed that Treasury relaxed the rules in order to "encourage" US banks/institutions to hold more. Essentially US taxpayers are being encouraged to lend more money than they might like to the US government. I suspect that it will not be long before the Federal government requires increased Bond purchases from Banks, Insurers, Pension Funds rather than mere "encouragement." Messing around with the Bond market is foolish at any time but when we already have the Tariffs fiasco and that absurd Bill is being pushed through Congress, it is stupid. Given that the USA has already lost its AAA status Public debt is getting more expensive every year leaving no cash for essential services.

Something has to give: Reduce government expenditure, Let the US dollar fall, Increase taxes, the alternatives are obvious but not politically palatable. And as the economy rots it will only get worse.

 

[1984X2024]

Yes, Trump and his tweets get results. Last week he attacked Canada for the digital tax and stopped trad talks and last night

Canada drops tax that targeted US tech firms

 

[Bn2f]

Yes, Trump and his tweets get results. Last week he attacked Canada for the digital tax and stopped trad talks and last night

Canada drops tax that targeted US tech firms

Cool. So what number should we designate this in his brag of 90 deals in 90 days?

 

[MajorRewrite]

Cool. So what number should we designate this in his brag of 90 deals in 90 days?

Deal Count: 0

Partial deals with the UK and China won’t count until they are comprehensive.

 

[MajorRewrite]

Yes, Trump and his tweets get results. Last week he attacked Canada for the digital tax and stopped trad talks and last night

Canada drops tax that targeted US tech firms

I’m curious, what’s your logic for opposing the digital services tax that Canada proposed?

Companies that operate in a nation pay taxes there … except digital services companies which are exempt for “reasons”.

So do you have any reasoning for opposing the tax beyond “Trump said it’s bad”? Check your Xitter feed to see if it can supply you with any thoughts on the topic.

 

[ll74]

https://economictimes.indiatimes.co...973-report/articleshow/122162348.cms?from=mdr​

US dollar's 10% fall in H1FY25 is its worst since 1973: Report - The Economic Times

 

[ishtat]

Yes, Trump and his tweets get results. Last week he attacked Canada for the digital tax and stopped trad talks and last night

Canada drops tax that targeted US tech firms

The digital tax discussed was a Canadian federal tax. There appears to be nothing to stop the Canadian provinces (states) from extending their sales taxes to cover digital transactions. We'll see what transpires.

 

[heathrowinneo]

https://economictimes.indiatimes.co...973-report/articleshow/122162348.cms?from=mdr​

US dollar's 10% fall in H1FY25 is its worst since 1973: Report - The Economic Times

What was once considered a safe haven, the dollar is losing stature. The bond markets show the other side of the cost of f/x with higher rates trying to attract investors to buy American debt. If the big, beautiful bamboozle does pass with the levels of new debt, the US treasuries will rise. Good articles.

 

[Rightguide]

CNBC forced to admit Trump's tariffs have brought in over 121 billion.

https://rumble.com/v6vjzkl-cnbc-for...s-tariffs-have-brought-in-over-121-billi.html

 

[ll74]

CNBC forced to admit Trump's tariffs have brought in over 121 billion.

https://rumble.com/v6vjzkl-cnbc-for...s-tariffs-have-brought-in-over-121-billi.html

Nobody forced them to report the news.

 

[heathrowinneo]

CNBC forced to admit Trump's tariffs have brought in over 121 billion.

https://rumble.com/v6vjzkl-cnbc-for...s-tariffs-have-brought-in-over-121-billi.html

lol another post from a non-credible source with low factual reporting. you just might want to step out of the echo chamber and locate more objective news sources.

https://mediabiasfactcheck.com/rumble/

 

[MajorRewrite]

CNBC forced to admit Trump's tariffs have brought in over 121 billion.

https://rumble.com/v6vjzkl-cnbc-for...s-tariffs-have-brought-in-over-121-billi.html

As we’ve explained many many times, every dollar collected by TrumpTariffs is a dollar taxed away from American businesses and citizens. Woo.

 

[MajorRewrite]

Job openings increased in May to 7.8 million from 7.4 million in April. ️

Hires decreased from 5.6 million to 5.5 million.

The stable job market (combined with rising inflation) means there’s no reason for the Fed to lower rates.

 

[MajorRewrite]

Total construction spending continues to fall. It has steadily declined since its record high in May 2024.

 

[Rightguide]

Art Laffer schools the clueless:

‘It Just Doesn’t Affect Trade’: Economist Art Laffer Breaks Down Why Tariffs Aren’t Inflationary​

Mariane AngelaNews Reporter
June 30, 20257:34 PM ET

Economist Art Laffer explained on Fox Business Monday that tariffs do not drive inflation and said that the economic impact of import taxes is offset by corresponding price drops in exports.

On April 2, Trump announced reciprocal tariffs on several nations before declaring a 90-day “pause” on the tariffs days later. During an appearance on “Kudlow,” Laffer pushed back against claims that tariffs drive up inflation and explained his step-by-step case for why trade barriers don’t increase overall prices.

“Step one, tariffs on imports do raise the price of imports. But do remember that the U.S. exports to earn the wherewithal to buy imports from other countries. So if you have a tax on imports, it’s the exact same thing as a tax on export,” Laffer told guest host David Asman. “That’s called Lerner’s symmetry theorem, exactly the same. And, therefore, what happens is all of our exportable goods and services, their prices will fall. So the increase in prices of imports is matched 100% by the fall in the prices of exports. And the two net out to be zero.”

Laffer points to historic examples, such as the Nixon administration’s 10% surcharge, which led to a noticeable drop in inflation rates.

https://dailycaller.com/2025/06/30/art-laffer-inflation-trump-tariffs/

 

[MajorRewrite]

Art Laffer schools the clueless:

Laffer is clueless, and always has been. He was discredited long ago for being the king of magical thinking.

 

[MajorRewrite]

US gasoline prices have been slowly trending upward since December. It’s a very gradual trend.

 

[heathrowinneo]

Art Laffer schools the clueless:

‘It Just Doesn’t Affect Trade’: Economist Art Laffer Breaks Down Why Tariffs Aren’t Inflationary​

Mariane AngelaNews Reporter
June 30, 20257:34 PM ET

Economist Art Laffer explained on Fox Business Monday that tariffs do not drive inflation and said that the economic impact of import taxes is offset by corresponding price drops in exports.

On April 2, Trump announced reciprocal tariffs on several nations before declaring a 90-day “pause” on the tariffs days later. During an appearance on “Kudlow,” Laffer pushed back against claims that tariffs drive up inflation and explained his step-by-step case for why trade barriers don’t increase overall prices.

“Step one, tariffs on imports do raise the price of imports. But do remember that the U.S. exports to earn the wherewithal to buy imports from other countries. So if you have a tax on imports, it’s the exact same thing as a tax on export,” Laffer told guest host David Asman. “That’s called Lerner’s symmetry theorem, exactly the same. And, therefore, what happens is all of our exportable goods and services, their prices will fall. So the increase in prices of imports is matched 100% by the fall in the prices of exports. And the two net out to be zero.”

Laffer points to historic examples, such as the Nixon administration’s 10% surcharge, which led to a noticeable drop in inflation rates.

https://dailycaller.com/2025/06/30/art-laffer-inflation-trump-tariffs/

well, that's great but the american consumer still pays the tariff and not sure that laffer was on his meds when the interview was made. plus, your sources of information are biased and really lack credibility.

https://mediabiasfactcheck.com/daily-caller/

 

[PersonalFavors]

Where did we pay this 'tariff'?

 

[ishtat]

US gasoline prices have been slowly trending upward since December. It’s a very gradual trend.

Prices are close to minimum to keep much of US capacity in profit. The Oil companies might like a nice messy war in Iran to drive prices up a tad. With the slow US dollar slide it's tricky to decide which is driving what.

 

[ChloeTzang]

The Golden Age seems to have been impacted - tariff effects starting to kick in. The next one should be worse and then we'll be officially in a recession

 

[ChloeTzang]

Canada's chief negotiator for the original NAFTA, John Weekes, doesn't think the White House claim that Canada 'caved' has had much impact on Ottawa's position in talks with the U.S., arguing President Donald Trump 'likes to show that he's humiliating the countries he's negotiating with.' Weekes argues the relationship could be at its most uncertain since the Second World War.

 

[Rockymtnman]

CNBC forced to admit Trump's tariffs have brought in over 121 billion.

https://rumble.com/v6vjzkl-cnbc-for...s-tariffs-have-brought-in-over-121-billi.html

Who paid them? Sure wasn’t the other countries. We did… dumb ass. That’s how tariffs work. You act like china wrote a check to the treasury for 20 billion dollars. Price of food has gone up, cars up, gas up, we were supposed to be getting our house painted this month and they told us it would be almost a thousand more than the quote they gave us 3 months ago and they bumped us back until September because of changing paint suppliers due to price restructuring. It is what it is because I would rather get kicked in the nuts than paint so hopefully it happens in September but I am certainly not thrilled.

 

[dmallord]

Who paid them? Sure wasn’t the other countries. We did… dumb ass. That’s how tariffs work. You act like china wrote a check to the treasury for 20 billion dollars. Price of food has gone up, cars up, gas up, we were supposed to be getting our house painted this month and they told us it would be almost a thousand more than the quote they gave us 3 months ago and they bumped us back until September because of changing paint suppliers due to price restructuring. It is what it is because I would rather get kicked in the nuts than paint so hopefully it happens in September but I am certainly not thrilled.

Sounds like your painter is jerking you around.

Get another quote. If prices jumped it is reasonable to assume other jobs got droppped in that process. Consequently, you should be painting earlier rather than later. No shortage of paint in the specialty stores like Sherwin-Williams.