Trump tariffs 'will increase the unemployment rate to recessionary levels,' says economist
Trump tariffs 'will increase the unemployment rate to recessionary levels,' says economist
Nearly everyone will be unemployed soon.
I mean I've been calling for a general strike but..
Unions better be a whole fuckin lot more popular after this....
And hopefully the president's tariff powers are henceforth limited
Nah, it won't be that bad. Underemployment numbers are going to skyrocket though. You want 10 hours this week? Hah. But at least you're getting that higher rate, right?
Oh, you're not getting that rate yet? Ouch.
No we will all work the fields and share the work with our comrades, glorious leader will ensure we all get a fair share from our hard work. ⚒️
So what? If there is one thing Donald Trump has made clear, it's that he doesn't give a shit what economists think.
Laura Loomer is definitely not an economist.
Giving her the credit for firing a bunch of people was her price for his latest blowie.
More men for the meat grinder when his misguided leadership entices China to war. It is going to be ugly and it is entirely preventable. Our vices have blinded us, dulled our intellects and made Trump possible.
nope he is going after our allies. he literally has talked about it
Chances are he’ll be fighting China because they offer help to Canada and Greenland against the US/Russian pinch.
Fuck you Americans.
All going according to plan. Sink the economy, blame everyone else, start a war, profit immensely, institute dictatorship, ramp up deportations/jailings/executions.
You know how you can tell we're fucked? They're not saying we're going to be in a recession anymore. They're saying "its going to be similar to a recession".
I voted for Trump because I trusted him to make the economy great again and if this is how he's doing it then I will trust in the plan.
We're making America great again! 1929 was a beautiful year!
It was the start of something great.
I'm with you SatansMaggotyCumFart
Dude.
Trump’s feels about his flex are far more important than the damage he does to the rest of us.
Companies whose products are entirely made in the U.S. could benefit: “At least in the short term, employment would likely rise there, because those folks will see more demand,” says Holzer. That could mean cumulative hikes of tens of thousands or even a few hundred thousand jobs added in the next three or four months, he says.
This is the entire point of the tariffs.
Also, I’m not entirely sure why they put the short-term qualifier there. In fact, it would seem that companies who make everything in the US would stand to benefit long-term, and also that more companies will invest in domestic production, which will create more jobs in the long run.
But US companies cannot make everything in the US. The industrial base was off-shored.
Sure they can, they just won’t, because it’s cheaper to make in China. And that’s the whole point of the tariffs, to level the playing field and make US manufacturing more competitive.
And who is going to buy all this US made stuff?
Americans of course. The US is still the biggest market in the world.
Good luck buying fresh vegetables in the winter, most of which come from the Southern Hemisphere. You can't just move the cultivation of off season crops to America.
Many, many things can't be created here, and we have things that other countries can't create. The world has spent decades working out a complex network of trade agreements so that everybody gets what they need, while benefitting their economies.
Then this buffoon staggers into the room, destroying this delicate balance because he has a breath-taking level of mental illness that deludes him into thinking he is genuinely smarter than anyone else in the world, especially knowlegable economists. He alone has conceived of this innovative tariff strategy that literally nobody else has ever considered, and he is pathologically convinced he is 100% correct.
His ignorance and mental illness is going to cause massive upheavals across the entire globe, and cause great suffering and death. It is not worth it because of a misguided hope for a few thousand jobs.
Lets work through this logic shall we. Lets say those companies setup production in the US, in the scenario where all required inputs are US based and produced then the only other determining factor for price increases would be wages. Do you think the end price would be cheaper or more expensive then what China can produce? In order to compete with China you have to have their level of wages in an economy that supports that low level of cost of living. Now lets see how scenario two plays out where at least some of the inputs still have to be imported, same result as before but just more costs to add onto the end product passed to the consumer.
This is a rather simplified outlook but I am curious if you can see what the dilemma would be those scenarios particularly for the US.
