Damus
HoloKat profile picture
HoloKat
@Bob
Imagine being a nation that doesn’t produce anything, telling all the producers what to do.

Trump’s threat of 100% tariffs would backfire massive. What it means in practice is higher prices for consumers, massive inflation to keep purchasing power up, a further weakening currency, LESS foreign investment, not more - because they also have to rely on imports to produce in US…

The producer only needs to raise prices to make up the losses…
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ΛM · 61w
It's called protectionism
Zach · 61w
Me thinks higher inflation is ahead
Hanshan · 61w
tariffs are fundamentally stupid
hoppe · 61w
There are many fools who equate their country with themselves and believe that protectionism, which strikes a blow to other nations, benefits them. Voluntary trade is mutually beneficial for both parties, and restricting it is essentially self-harm. When will they finally understand this?
SovereigntyQuest · 61w
Some nuance here....... https://carnegieendowment.org/research/2024/10/trade-intervention-for-freer-trade?lang=en
William ₿ Travis · 61w
I can't think of another approach to dismantling the income tax structure. Trump can't completely deprive the govt of revenue.
Fascinating · 61w
The US only needs Mexico and Canada. Inflation is coming anyway; they printed too much during the pandemic, and Trump is going to print even more lol.
Paulo · 61w
Would be a great time for Americans to read Economics in One Lesson (chapter 11 in this edition) https://www.liberalstudies.ca/wp-content/uploads/2014/11/Economics-in-One-Lesson_2.pdf https://m.primal.net/OJPA.jpg
I3_I2_I_Z · 61w
But what if done in tandem with elimination of federal income tax?
pam · 61w
Without careful planning of intra-trade of supply and demand, it will be a repeat of globalisation and deindustrialization in the 70s and 80s , which led to rust belt cities and growth of west coast and upper east side. It will exacerbate inequality by hurting lower-income groups especially labor-in...
Ty-Fi · 60w
Would be a whole lot easier if people would take 5 minutes and google “what is a tariff?” before voting
Account deleted · 60w
I think the tangerine turd learned an important lesson the other day. That lesson being, we are not the center of the universe and we rely on other countries for certain imports as well. Of course there would be retaliation by whatever countries we imposed a tariff on, why dafuq do you think no on...
Boog · 60w
This is very short sighted. Those countries need to sell their goods in America because they are too poor to buy what they produce in their own country.