151–160 of 287 posts
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> The fact that Canada, Mexico, China and the EU haven’t banned Tesla imports yet is remarkable. Why do they need to? They can just apply tariffs and let the consumer do it without the political baggage.
> Why do they need to? Messaging and frankly national security.
...yep, makes perfect sense.
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With talk of a anticipated 10% to 20% drop in the markets, their silence could be ruinous.
The stock market falls by 10% or more on average every 1.2 years: https://www.covenantwealthadvisors.com/post/understanding-st... . There were 5 such drops in 2020, 4 in 2022, and 1 in 2023. Somehow, the nation avoided ruin during those periods.
IIRC, the drops in 2022 correlated with federal interest rate hikes and other federal policies designed to help ease inflation, with the expectation that markets would rapidly cool but avoid a larger overall crash.
Simply put, a 10% drop isn't in itself concerning if correlated with shifting market conditions. It is when those in charge are foot-gunning the market with their policies, and then threatening to double down in the face of the 10% drop they caused.
Tesla stock has been particularly hammered. Ontario apparently cancelled a Starlink contract and Italy is considering to do so as well. Musk’s political antics are affecting his businesses.
> Musk's political antics are affecting his businesses. The scary part is that he doesn't care. Money is no longer his motive.
https://www.reddit.com/r/AdamCarolla/comments/5jfeoz/whats_t...
This administration is either intentionally performing market manipulation or is simply incompetent. Either way, we all lose. Hope the general populous is happy with their choice, lol.
It's simple incompetence. The whole lot are economically illiterate. Musk is out there talking about the US going bankrupt. Trump is saying other countries will pay for the tariffs. It's mind numbing. This is why you can't have business people running a country. A country is not like a business or a household.
[1] https://www.canada.ca/en/department-finance/news/2024/08/can...
This administration is either intentionally performing market manipulation or is simply incompetent. Either way, we all lose. Hope the general populous is happy with their choice, lol.
I don't know why there is this general vibe amongst technologists that they are somehow far superior in their thought process compared to the general populace. I have heard the words peasant class come up quite often in the tech circles. Why is this ? Aren't you part of the general populace ? At the risk of getting downvoted let me posit a different narrative. What if the past governments were just propping up growth…
Keynsian economics 101. “The government should pay people to dig holes in the ground and then fill them up." except in this case it's government non jobs rather than asking people to do manual labour.
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I don't know why there is this general vibe amongst technologists that they are somehow far superior in their thought process compared to the general populace. I have heard the words peasant class come up quite often in the tech circles. Why is this ? Aren't you part of the general populace ? At the risk of getting downvoted let me posit a different narrative. What if the past governments were just propping up growth…
> I don't know why there is this general vibe amongst technologists that they are somehow far superior in their thought process compared to the general populace. It’s a recent shift. Historically, “technologists” were skeptical of the supposed knowledge of “experts.” When Linus built Linux, the “experts”—the guys with PhDs—said the future was microkernels: https://en.wikipedia.org/wiki/Tanenbaum%E2%80%93Torvalds_deb.…
It's also pretty clear that any economic benefits that there were, didn't benefit all of society equally,
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The administration is trying to definancialize the economy. Everything points in that direction, from tariffs to foreign policy moves that would reduce the dollar’s status as a reserve currency.
> definancialize the economy Not sure what does it mean in the context of the economy in general.
Consider what high tariffs would do, for example, to Apple. Since Steve Jobs died, Tim Cook has focused on increasing profits by building a hyper-optimized Chinese supply chain. That doesn’t help American workers, and I’d argue in the long run it hurts innovation. But imagine if Apple had to be an exorbitant tariff for every foreign-made iPhone. Had such a policy been in place 20 years ago, we may have dramatically changed the direction the cell phone industry went in the country.
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But he continues doing what he started. Considering the fact that he is very smart and definitely hungry for absolute power, you can think about his true goal. If he is ready to risk that much of his worth, it means that the potential win for him will bring so much more.
You mistake IQ for judgement. They are related but distinct.
This administration is either intentionally performing market manipulation or is simply incompetent. Either way, we all lose. Hope the general populous is happy with their choice, lol.
My neighbours and I have been buying up cropland on the cheap as a result of the trade war. As an ethical move, we’re only buying in Trump-voting counties from registered Republicans. But at the end of the day, there is massive pain in that sector, particularly among soybean farmers and dairy farmers close to Canada, and it’s directly attributable to Trump.
The standard move is to hunker down for the next 4 years, keep buying low, and wait for Democrats to come back and fix things in their next term. The same cycle has repeated what, 5 times in the last 30 years?
No particular love for the Republican Party, but it’s a problem created by the Democrats, which they then patched with the inferior Frank-Dodd. Plenty of stupidity to go around, I would say.