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Best Buy and Target CEOs say prices are about to go up because of tariffs

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Re: Best Buy and Target CEOs say prices are about to go up because of tariffs

#241

Post by _DeadFred_ »

bodiekane wrote: post #220
pfannkuchen wrote: post #201

Earlier quoted context omitted.

[flagged]

I like that you did a full 180 between your two comments in this thread. First it was "Trump seems to habitually make hyperbolic and ridiculous sounding statements" to pretend it's all talk and not representative of actual policy. And then a complete switch to supporting all of the policies which started as "hyperbolic and ridiculous sounding statements" on tariffs, immigration and Russian imperialism. Also, it seems…

Average "I'm middle of the road with regard to politics" American.

Re: Best Buy and Target CEOs say prices are about to go up because of tariffs

#242

Post by Aloha »

Marsymars wrote: post #236
Aloha wrote: post #232

Earlier quoted context omitted.

I want a better quality of jobs, in my experience service oriented industry often have a thinner margin than hardware. Like walmart is the largest private employer in the US, the working conditions, pay and benefits one gets from working at walmart isnt comparable to what we used to give what was the largest private employer 50 years ago (which was AT&T) - nor can the margins that walmart generates support those kind…

I get what you're saying, but I'm not getting any way that the economics here work. Expanding (rather than shrinking) the economy that way only works if you can export some of your production, which you won't be able to do if the production only exists because of tariffs. (Because other countries will enact counter-tarrifs.) If you move Walmart employees to building widgets at a somewhat higher wage and that shrinks…

If every high wage country did the same thing - and specifically targeted low regulation places - it would. I'm certain that the US can build something that is competitive in Europe, and most of the Americas.

Also flatly, people cannot pay their rent, or eat GDP, its possible to have lower GDP growth and still be more prosperous country, most of the GDP loss will be to upper income earners.

Re: Best Buy and Target CEOs say prices are about to go up because of tariffs

#243

Post by beveldropshadow »

MichaelZuo wrote: post #144
ty6853 wrote: post #131

Earlier quoted context omitted.

Both right wing economists like Friedman and Mises, and left wing, understand initiating tariff wars against friendly neighbors is economically illiterate. No persons of educated thinking have anything fundamental to add. There is nothing to discuss. What we are witnessing is, to be crass, an exercise of pure idiocy.

Based on what logic…? There’s not a widely agreed upon definition of intelligence last time I checked. So it seems impossible for “idiocy” to be any better defined. There’s not even such an agreement that all human adults are even sentient in the first place, or what the critical threshold is.

You really got him good..?

Re: Best Buy and Target CEOs say prices are about to go up because of tariffs

#244

Post by monetus »

aaronbaugher wrote: post #226
misterjensen wrote: post #197

Right, like they are not going to take the opportunity to raise margins. I recall seeing the exact same windshield mounted phone holder for 25 USD at Best Buy and 1 USD at the dollar store. Prices are not only set based on percentual margins, they are also set based on what the consumer is ready to pay for perceived value.

Yep. "Translation: CEOs see opportunity to raise prices and blame it on someone else, figuring consumers don't understand how prices work." And they're mostly right.

The tariffs will raise prices, and more than on imports alone since they will up margins elsewhere else to compensate for the destroyed ones.

Price gouging COVID style is going to happen as well. The White House has screwed us.

Re: Best Buy and Target CEOs say prices are about to go up because of tariffs

#245

Post by chii »

toxicunderGroov wrote: post #210
disgruntledphd2 wrote: post #207

Earlier quoted context omitted.

The US does have such a monopoly, in tech. But because that's services rather than goods, it seems to be ignored.

I propose ASML raised prices for US customers by 30%, and maybe give China some freebies to thank them for the panda's.

Well, you'd be glad to know that ASML is majority owned by institutional investors and a large fraction of that are US based.

Re: Best Buy and Target CEOs say prices are about to go up because of tariffs

#246

Post by lazide »

jemmyw wrote: post #218
pfannkuchen wrote: post #199

Earlier quoted context omitted.

Yes, I agree that the personality defect is a form of narcissism. I think, though, that the narcissism mechanism acts a bit differently than you say. I think he sees himself as a great man, a man who can see further than others, a man who gets things done and above all a man who makes deals. I’m not saying his is any those things, he’s not, just that this is how he narcissistically sees himself. Interestingly, I thin…

The problem comes when he thinks about making a deal that can't be made. Denmark can't sell Greenland. It's just not possible within their framework of relationship with the citizens of Greenland. So what will he do when it doesn't pan out? I don't know. We're seeing the same thing with Ukraine. Ukraine and Russia are not yet in a position where peace is possible. He wants to be seen making the peace. It can't happen…

What do you think the odds are that Denmark would ‘start’ a war between the US and NATO over Greenland?

That answer is why he’ll almost certainly end up ‘taking’ Greenland.

Re: Best Buy and Target CEOs say prices are about to go up because of tariffs

#247

Post by jemmyw »

lazide wrote: post #246
jemmyw wrote: post #218

Earlier quoted context omitted.

The problem comes when he thinks about making a deal that can't be made. Denmark can't sell Greenland. It's just not possible within their framework of relationship with the citizens of Greenland. So what will he do when it doesn't pan out? I don't know. We're seeing the same thing with Ukraine. Ukraine and Russia are not yet in a position where peace is possible. He wants to be seen making the peace. It can't happen…

What do you think the odds are that Denmark would ‘start’ a war between the US and NATO over Greenland? That answer is why he’ll almost certainly end up ‘taking’ Greenland.

No, they won't go to war over it. But it'll be the end of the post war consensus, probably the end of NATO. It's a cliff, once you go over it there's no coming back.

Re: Best Buy and Target CEOs say prices are about to go up because of tariffs

#248

Post by lazide »

jemmyw wrote: post #247
lazide wrote: post #246

Earlier quoted context omitted.

What do you think the odds are that Denmark would ‘start’ a war between the US and NATO over Greenland? That answer is why he’ll almost certainly end up ‘taking’ Greenland.

No, they won't go to war over it. But it'll be the end of the post war consensus, probably the end of NATO. It's a cliff, once you go over it there's no coming back.

He’s literally said he wants to get the US out of NATO multiple times, because it’s a ‘bad deal’.

Re: Best Buy and Target CEOs say prices are about to go up because of tariffs

#249

Post by Marsymars »

Aloha wrote: post #242
Marsymars wrote: post #236

Earlier quoted context omitted.

I get what you're saying, but I'm not getting any way that the economics here work. Expanding (rather than shrinking) the economy that way only works if you can export some of your production, which you won't be able to do if the production only exists because of tariffs. (Because other countries will enact counter-tarrifs.) If you move Walmart employees to building widgets at a somewhat higher wage and that shrinks…

If every high wage country did the same thing - and specifically targeted low regulation places - it would. I'm certain that the US can build something that is competitive in Europe, and most of the Americas. Also flatly, people cannot pay their rent, or eat GDP, its possible to have lower GDP growth and still be more prosperous country, most of the GDP loss will be to upper income earners.

> Also flatly, people cannot pay their rent, or eat GDP, its possible to have lower GDP growth and still be more prosperous country, most of the GDP loss will be to upper income earners.

Right, but then you’re working with a smaller pie than if you just skipped tariffs, taxed the upper income earners, and redistributed that.

And tariffs are particularly regressive - mostly resulting in higher costs for your low income earners, since tariffed goods are a relatively higher part of their expenses than they are for the wealthy.

Tariffs are an economically inefficient way to get a bigger pie slice for the median earner.

Re: Best Buy and Target CEOs say prices are about to go up because of tariffs

#250

Post by Aloha »

Marsymars wrote: post #249
Aloha wrote: post #242

Earlier quoted context omitted.

If every high wage country did the same thing - and specifically targeted low regulation places - it would. I'm certain that the US can build something that is competitive in Europe, and most of the Americas. Also flatly, people cannot pay their rent, or eat GDP, its possible to have lower GDP growth and still be more prosperous country, most of the GDP loss will be to upper income earners.

> Also flatly, people cannot pay their rent, or eat GDP, its possible to have lower GDP growth and still be more prosperous country, most of the GDP loss will be to upper income earners. Right, but then you’re working with a smaller pie than if you just skipped tariffs, taxed the upper income earners, and redistributed that. And tariffs are particularly regressive - mostly resulting in higher costs for your low incom…

Sure - but they're a politically possible one.

I'm a big fan of UBI - love it, make all my librarian bits very happy! - but I also acknowledge the political reality of it.

I also do see the value in work, people derive significant mental health benefits from meaningful work too, that shouldn't be discounted.

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