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Trump's Tariffs Wipe Out over $6T on Wall Street in Epic Two-Day Rout

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Re: Trump's Tariffs Wipe Out over $6T on Wall Street in Epic Two-Day Rout

#611

Post by someNameIG »

mcv wrote: post #587
someNameIG wrote: post #571

Earlier quoted context omitted.

The US economy is the largest in the world, disposable income, both average and median, are highest and second highest respectively. Median income is 30-40% higher than comparable developed economies, and significant higher than China. https://en.m.wikipedia.org/wiki/Disposable_household_and_per... Even industrial output the US is second highest, and it's closer to first place than second. https://en.m.wikipedia.org/…

> And supporting a whole family on a single income well was a very narrow window of time, and it required the US to have no real economic competitors. But then how were other countries able to have this while having economic competitors?

Some places relied on other ways to make money (here in Australia it was comodoties). A lot is just social change to two income households, and it's main contributor to living costs was housings. Two people bringing in money ,means that households can pay more for a mortgage or rent, driving up costs.

Re: Trump's Tariffs Wipe Out over $6T on Wall Street in Epic Two-Day Rout

#612

Post by orwin »

Centigonal wrote: post #418
card_zero wrote: post #369

Earlier quoted context omitted.

Ten times? More like two times: US population is around 340 000 000, 770 000 homeless. UK population is around 68 000 000, 354 000 homeless. (Possibly calculated more inclusively.) That's 0.23 % and 0.52 %. (Numbers from https://en.wikipedia.org/wiki/Homelessness_in_the_United_Sta... and https://en.wikipedia.org/wiki/Homelessness_in_the_United_Kin... or more specifically from a govt department and a homelessness char…

Hey, so I was wrong in saying the UK has 10x the homelessness rate of the US. I used a stat from the video that "approximately one in fifty Londoners are now homeless." That's London, not the UK. Thanks for catching that -- I will update my post. But also, uh, you're wrong too! Your numerator for the UK figure is actually an estimate for homeless people in England, while your denominator includes the whole UK.

Homelessness is a housing issue first, a poverty issue second. See housing as a game or musical chairs. If you don't have enough, the one getting stuffed first are the slowests (in that case, the unemployed poor, then the working poor).

Re: Trump's Tariffs Wipe Out over $6T on Wall Street in Epic Two-Day Rout

#613

Post by itake »

lunarboy wrote: post #148
itake wrote: post #115

Earlier quoted context omitted.

China is isolationist and they seem to be growing. The problem is the USA is a consumer economy which isn’t sustainable. We could get away with it as a tech leader, but with China stepping ahead (Deepseek) china will be a tech leader and manufacturing leader. What will the USA have?

In what plane of reality is China isolationist

China doesn't allow other tech companies to compete (Google, Facebook, Amazon, etc) .

Re: Trump's Tariffs Wipe Out over $6T on Wall Street in Epic Two-Day Rout

#614

Post by itake »

drowsspa wrote: post #209
donnachangstein wrote: post #182

Earlier quoted context omitted.

Do you think walling their population off from the Internet doesn't qualify?

Economically and diplomatically? No, it doesn't.

Is any foreign Google or Facebook or any social media website allowed to operate in China?

Re: Trump's Tariffs Wipe Out over $6T on Wall Street in Epic Two-Day Rout

#615

Post by itake »

ajross wrote: post #179
itake wrote: post #115

Earlier quoted context omitted.

China is isolationist and they seem to be growing. The problem is the USA is a consumer economy which isn’t sustainable. We could get away with it as a tech leader, but with China stepping ahead (Deepseek) china will be a tech leader and manufacturing leader. What will the USA have?

> China is isolationist China is what now? China is the biggest trading partner of something like 70% of all nations in the world! China is asymmetric and unfair , not "isolated". They disallow imports except in a handful of industries they can't replicate yet. That works for China, because: (1) they are huge, and (2) they remain poor, and thus can do the low wage jobs internally in addition to doing them for the res…

China doesn't allow foreign businesses to operate. See Google, Facebook, etc

Re: Trump's Tariffs Wipe Out over $6T on Wall Street in Epic Two-Day Rout

#616

Post by acdha »

brailsafe wrote: post #66
darksaints wrote: post #35

Earlier quoted context omitted.

Good. Silicon Valley collectively sold their souls to Saudi Arabia, and put their full weight behind Trump because that’s what Saudi Arabia wanted, and now they are gonna get what they deserve. I hope their wealth is destroyed to the point of needing to care about Social Security and Medicare.

What souls did Silicon Valley ever have, c'mon srsly

There used to be more of an image of making the world better - people were still talking about getting rich, of course, but there was a sense that they were going change the world more positively in the spirit of Steve Jobs’ bicycle for the mind quote, and it seemed like that got dropped in the 2010s when everything got so focused on adtech riches and, later, the cryptocurrency marketing push tried to finalize everything without delivering anything truly beneficial to the users.

Re: Trump's Tariffs Wipe Out over $6T on Wall Street in Epic Two-Day Rout

#617

Post by almog »

Tadpole9181 wrote: post #555
breadwinner wrote: post #106

There is away out of this mess: A U.S. Senate bill that would require congressional approval for new tariffs gained more Republican support on Friday [1]. Trump is not going to back down since that will make him look like a loser. Neither is China. But GOP can help Trump out by creating a new law that automatically expires all new tariffs after 60 days unless approved by congress. This will let Trump extricate his he…

To be clear, this is going to have to pass the house. Then, Trump will veto it. Then, the senate will need 16 Republican senators (30% of the party) to vote against it. And it's still a toss-up if Trump will even obey it or if he'll executively order customs to continue the Tariffs. So unless Republicans suddenly grow a spine, which is unlikely given their current strategy is "hide the stock ticket on Fox news" and p…

I absolutely agree that impeachment and conviction is the only way to restore the world's trust in the US.

If this bill passes and Trump vetos it, don't you think that could raise the odds for a 3rd impeachment process?

Re: Trump's Tariffs Wipe Out over $6T on Wall Street in Epic Two-Day Rout

#618

Post by heigh »

acdha wrote: post #199
jarym wrote: post #7

It is interesting that tech (Nasdaq) is the hardest hit here. The real engine of US exports for recent decades and likely to be a casualty as other countries plan their trade-war retaliation. And that's not even taking into consideration what might happen in the domestic market should there be a real recession - consumers will cut down their consumption and that'll filter back to lower corporate earnings. In previous…

The other side of it is the lost trust in American tech. That’s most prominent in the military debates around whether other countries can rely on their expensive hardware working if they run afoul of American policy, or if the president is looking for leverage to extort a mineral deal, but it’s also highly relevant for the civilian side. For pretty much as long as we’ve had computers, most other countries have truste…

I think since the Snowden revelations it’s pretty clear there is no holds barred in terms of intelligence overreach from practically every angle and state.

What’s happening now, with the tariffs, is really wild (but ultra dumb imho) territory…

Re: Trump's Tariffs Wipe Out over $6T on Wall Street in Epic Two-Day Rout

#619

Post by heigh »

acdha wrote: post #199
jarym wrote: post #7

It is interesting that tech (Nasdaq) is the hardest hit here. The real engine of US exports for recent decades and likely to be a casualty as other countries plan their trade-war retaliation. And that's not even taking into consideration what might happen in the domestic market should there be a real recession - consumers will cut down their consumption and that'll filter back to lower corporate earnings. In previous…

The other side of it is the lost trust in American tech. That’s most prominent in the military debates around whether other countries can rely on their expensive hardware working if they run afoul of American policy, or if the president is looking for leverage to extort a mineral deal, but it’s also highly relevant for the civilian side. For pretty much as long as we’ve had computers, most other countries have truste…

So in short, the trust with tech is already way gone. And should be. For everything else? Well trump just blew that up

Re: Trump's Tariffs Wipe Out over $6T on Wall Street in Epic Two-Day Rout

#620

Post by OJFord »

Symbiote wrote: post #603
OJFord wrote: post #298

Earlier quoted context omitted.

> If you think it's a lesser crisis, you could just say that. I do, but the principal reason I didn't say that is that I had no idea it's what the commenter I replied to was referring to. 'Brexit' feels mostly completely irrelevant / not a topic of concern or debate since at least the beginning of the pandemic five years ago. The vote was almost a decade ago. 'If bdelmas thinks it's like Brexit, they could just say t…

Britain took 4 years to negotiate and prepare for the new trading arrangement with the EU. It wasn't all smooth, but they did things like massively expand customs facilities at sea and airports to allow for the new inspections, train up inspectors for animal and plant imports. It gave time for people to move, companies to move their HQ, set up new warehouses, etc. Both sides were clear that the arrangement wouldn't b…

That's a good summary, I basically agree. It's hardly describing a current and ongoing 'crisis' that the US hopefully doesn't deteriorate from its present position to the level of, though, is it?

I think if I were American I would be longing for the day that 'remains a topic of debate because we haven't seen the promised benefit of it'!

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