Economics Thread

Why did the market surge today?

Bc the fed confirmed they are abandoning their 2% inflation target.

The printer is gonna go brrrrrrr. Rich people will make it. Middle class will continue to struggle.

At least until they get their new job at the toaster factory

If you dont own assets, you're screwed
 
Are we shaming DIYers like we do teenagers who like to play PS5 or little girls who like dolls?

These folks just need to endure higher prices while we fix the country.
 
Are we shaming DIYers like we do teenagers who like to play PS5 or little girls who like dolls?

These folks just need to endure higher prices while we fix the country.
Are there any items Magadonians would not be content with price increases?

We know dolls and ps5 and hammers and nails are luxury items, so maybe thethe can help us out what items are essential to everyday Americans
 
https://www.cato.org/blog/tariff-inclusion-process-comes-high-costs-absurd-outcomes-extra-cronyism

The Trump administration quietly announced that imports of more than 400 additional products—valued at almost $210 billion in 2024—would be subject to “national security” tariffs on steel and aluminum. The action is disturbing for many reasons.

For starters, many of the listed items can’t plausibly be considered “steel products,” or “aluminum products,” or otherwise related to actual national security. As bad if not worse, the administration gave US importers of these goods less than 24 business hours’ notice before their products’ steel and aluminum content would be taxed at a 50 percent rate, with no leeway for products already en route to the United States or for US companies that don’t have said content (and why would they?). And the administration used a “tariff inclusion” process it instituted last February to invite any US company to request import protection under the guise of “national security,” thus encouraging a flood of such requests (and a lobbying bonanza) in response.


—————

Bad policy enacted in the dumbest possible way, while inviting a flood of lobbyists. Drain the swamp, they said.

Rest easy everyone, whipped cream, deodorant, and baby strollers are among those categories protected based on national security.
 
https://www.wsj.com/opinion/deere-t...rump-josh-beal-f42ea4ab?mod=opinion_lead_pos2


The Moline, Ill., company is laying off 238 workers at three factories in Moline, East Moline, and Waterloo, Iowa, in the coming weeks.

This month the company reported a 26% drop in net income and 9% decline in sales, owing to lower commodity prices and higher tariffs. “Tariff costs in the quarter were approximately $200 million, which brings us to roughly $300 million in tariff expense year to date,” said director of investor relations Josh Beal.

Deere expects the pretax damage from tariffs to reach $600 million in the current fiscal year, up from a previous forecast of $500 million. The hits are coming from President Trump’s tariffs on India, the European Union and his 50% border tax on steel and aluminum. The costs hit Deere’s earnings and ultimately employment. What was that again about the New GOP and the working class?


—————

I was told the point was to bring back blue collar manufacturing jobs to America. It doesn’t get more blue collar American manufacturing than John effing Deere, no?
 
Are we shaming DIYers like we do teenagers who like to play PS5 or little girls who like dolls?

These folks just need to endure higher prices while we fix the country.
If I knew what we was doing would work, yeah. Should we not tighten down on entitlements bc it would make it harder on some?
 
https://www.wsj.com/opinion/deere-t...rump-josh-beal-f42ea4ab?mod=opinion_lead_pos2


The Moline, Ill., company is laying off 238 workers at three factories in Moline, East Moline, and Waterloo, Iowa, in the coming weeks.

This month the company reported a 26% drop in net income and 9% decline in sales, owing to lower commodity prices and higher tariffs. “Tariff costs in the quarter were approximately $200 million, which brings us to roughly $300 million in tariff expense year to date,” said director of investor relations Josh Beal.

Deere expects the pretax damage from tariffs to reach $600 million in the current fiscal year, up from a previous forecast of $500 million. The hits are coming from President Trump’s tariffs on India, the European Union and his 50% border tax on steel and aluminum. The costs hit Deere’s earnings and ultimately employment. What was that again about the New GOP and the working class?


—————

I was told the point was to bring back blue collar manufacturing jobs to America. It doesn’t get more blue collar American manufacturing than John effing Deere, no?
Once they give the White House a golden tractor all will be well.
 
https://www.cato.org/blog/tariff-inclusion-process-comes-high-costs-absurd-outcomes-extra-cronyism

The Trump administration quietly announced that imports of more than 400 additional products—valued at almost $210 billion in 2024—would be subject to “national security” tariffs on steel and aluminum. The action is disturbing for many reasons.

For starters, many of the listed items can’t plausibly be considered “steel products,” or “aluminum products,” or otherwise related to actual national security. As bad if not worse, the administration gave US importers of these goods less than 24 business hours’ notice before their products’ steel and aluminum content would be taxed at a 50 percent rate, with no leeway for products already en route to the United States or for US companies that don’t have said content (and why would they?). And the administration used a “tariff inclusion” process it instituted last February to invite any US company to request import protection under the guise of “national security,” thus encouraging a flood of such requests (and a lobbying bonanza) in response.


—————

Bad policy enacted in the dumbest possible way, while inviting a flood of lobbyists. Drain the swamp, they said.

Rest easy everyone, whipped cream, deodorant, and baby strollers are among those categories protected based on national security.
Do we even really have national security if the President can’t extort companies for money in exchange for tariff exemptions?
 
entitlements and market prices don’t go together in the same sentence my friend
The point is some short term struggle for some is worth it for a healthy country long term. I would gladly pay more for anything if it resulted in a strong country for my granddaughter. Now I'll admit, I have no idea if trump knows what he's doing. If he could sell it though, I'm in.
 
The point is some short term struggle for some is worth it for a healthy country long term. I would gladly pay more for anything if it resulted in a strong country for my granddaughter. Now I'll admit, I have no idea if trump knows what he's doing. If he could sell it though, I'm in.
What we are experiencing is short term pain in exchange for long term pain
 
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