Summary
Fox News host Julie Banderas warned that President-elect Donald Trump’s proposed tariffs—25% on products from Mexico and Canada and 10% on those from China—could significantly raise costs for Americans, as many businesses rely on foreign goods.
While some companies are shifting to U.S.-based suppliers or stockpiling goods ahead of the tariffs, Banderas noted that buying American often results in higher prices.
She highlighted that the financial burden would likely fall on consumers, questioning, “Who’s going to pay for that? We are.”
Economists have also warned of inflation risks.
My sister’s fiance thought just because an iPhone (for instance) was designed in the states that it wouldn’t be subject to tariffs, despite being made in China and using foreign parts.
Lack of education is the best way to control people.
Also messianic prophecies, but agree education is number 1
need people dumb to have the lack of critical thinking skills for the messianic bullshit to take root in.
In the end there will be all sorts of carveouts for whatever company kisses Trump’s ass the most. Apple products will be on that list almost assuredly.
This is a bad thing because it’ll be yet another thing for people to point to and say “See! The tarrifs aren’t so bad.”
To be fair, an iPhone could be manufactured entirely in the US it would just cost 4x as much. Maybe 10x, actually.
CPU manufacturing would be the hardest to bring online. The second most difficult one would be screens (though we may not have tariffs with South Korea 🤷).
In the US there’s already plenty of PCB manufacturing, CNC machining (case), ultra hard glass (screen) manufacturing, and it’s relatively easy to ramp up capacitor and resistor manufacturing. Things like USB C connectors would need some company to step up though.
Only TSMC can produce the SoC which is a huge problem. An US produced iPhone would be something quite different no matter the price.
It would be a TI-83 calculator with a built in walkie talkie. 2.7 ghz.
Throw a map application on there and I’d be interested.
Wish granted. You must purchase and carry an external satellite receiver and upgrade the internal battery with an also external lead-acid battery with fan-cooled inverter. 🪄
Things like charge controllers need to be made too, and nobody makes those domestically. Same with simple chips like 555 timers. Nowhere in the US are these made.
How can a financially broken, over stressed, oppressed public fight? This is by design, to further oppress, divide and conquer. But I’ll wait over here with the other couple million people that have been screaming this for months till the shit hits the fan and we can actually start working toward a common greater good.
BuT tHe StOcK mArKeT iS uP!
THINK OF THE POOR SHAREHOLDERS YOU UNGRATEFUL MONSTER. /s
I’m always thinking of them.
It was fine until the 80s converted all the pensions into “mutual” funds. Now all our retirements are tied to the fucking stock market. We’re gonna need a general strick and the billionaires reckoning to fix this shit.
Since the Nixon Shock you’ve had to either invest in exploitation or watch your savings evaporate.
Billionaires shouldn’t even exist.
I do think of them. In terms of cooking recipes. Yummy yummy shareholder steak
And it won’t be once sales drop precipitously across entire industries. Lots of manufacturing simply doesn’t exist in the US anymore, and there isn’t enough time to start it up before massive economic impacts.
The effects of this Trump administration will be clear and they will be bad. I’m somewhat optimistic that they will eventually start to generate a kind of unity we haven’t seen in the US in a long time. But, to be clear, it will be a very, very, very rough few years to get there, and it assumes the world isn’t consumed by massive wars anyway.
What’s gonna happen is that prices will go up, and companies in the US will gouge even harder on top of that because they have an external excuse to. Maybe things will get so bad that Democrats are able to win in the next election, but after the Biden administration, it’s not like they have any credibility when it comes to standing up to price gouging in any meaningful way.
Democrats will need a candidate who isn’t some preordained corpodem like the last 3 cycles. Because if they do that again, they will be running as second worst yet the fuck again, and any noises they make about wanting prices to come down or wages to go up will be just that. Noise.
I keep thinking about how musk was talking about the upcoming hardship… I wonder if he was maybe referring to this too. He had to have known.
I’ve been asking people, might as well ask you. When’s the right time to cash out of the casino? Maybe buy puts?
Might seem crass to talk about making money off this disaster, but I have people I love to take care of.
The best way to win is not to play
Thanks for responding but the best way to win is to play smart. I’ve made great plays and stupid plays. 90% of the money we’ve saved for a downpayment on a house is in the market, in index funds.
I’m just asking around, mostly in person, for when other people are going to cash out and why.
Sept. 2, 1929.
Depends, are you near retirement age? Else holding for another 20 years is nearly always the right move. Hold and buy the dip, if at all possible.
Haha I’ll never retire. I know this advice has been true forever but this time really could be different. Thanks.
If it’s ACTUALLY different, the US dollar no longer exists. so no worries trying to outplay
I’ve said pretty much the same thing before!
Most Americans do not follow the markets and are clueless to their existance. You are giving them too much credit.
But they have no idea when some neoliberal talking head tells them that data shows the economy is fine, that person is talking about the stock market.
Although this time around I’m not so sure that line go up. Looking for signs for when to cash out of the casino.
Freedom’s just another word for nothing left to lose.
That’s all that Bobby left me.
Now might be a good time to get into the torch and pitchfork business
That’s old school. You gotta get into the modern equivalents: Airplane tracking and semi-autonomous robotics.
till the shit
Weird hobby.
Till, until, and 'til are all valid and equivalent with till actually being the oldest word of the bunch. I found this out the hard way when I made fun of a school poster for using what I thought was the wrong till
It ain’t gonna till itself.
I think that’s the thing. The system will fail if all these policies are put in place. But at this point, it sounds like a lot of voters need an example of what such a failure looks like.
That’s kind of my point. They don’t want to believe the truth, they will just have to experience reality. It’s like a kid and a stove, sometimes they will only learn if you let them touch it.
I agree in principal, but my concern with this is that people will see it happening to them, done by trump and will believe trump when they’re told that they’re suffering because of “the illegals” or the “woke mind virus” or whatever doublethink bullshit trump’s advisors come up with.
They’ll say it’s Biden’s policies costing everyone money, and they’re fighting oh ever so hard to fix this.
Definitely a possibility.
Trump is simply proving that he is a Russian asset. He’s taxing American allies more than their rivals.
The 10% on China is in addition to the 25% of Can/Mex, so 35% for China.
I understood it to mean 70%. 60% of what he initially promised plus the 10. 35% doesn’t sound so bad now…. Heh
Here’s the thing. Even if the terrifs, somehow, didn’t directly cause inflation, the fact that we are taking about inflation means that companies can raise prices and gouge just like last time.
Man, I sure am worried about deflation.
Deflation is actually really bad. It essentially means that not spending money is the best option, which makes it so people stop buying as many things and the economy slows down dramatically. A small amount of inflation is ideal. It encourages spending but doesn’t do much harm either.
That’s actually neoliberal propaganda and not true. “The economy” in the context of GDP turned out to really mean “rich people”.
In our current economic model, any deflation creates a perverse incentive to not spend. It is extremely bad for the economy, and all of us reliant on it. The rich are one of the few groups that come out ahead (relatively).
Like it or not, we are all stuck on that merry go round. Until we find a graceful way off, it’s in no-one’s interest to jam it up.
Our current economic model is a humanitarian and ecological disaster. We need to pump the brakes. Many more lives will be lost due to excessive consumption and inequality - we’re out of time for graceful.
There’s a difference between pumping the brakes and throwing a grenade into the fuel tank. A large scale economic collapse would be devastating. The world economy is so interdependent now that even minor disruptions cause problems.
I’m all for pumping the brakes, but we either need to stop gracefully, or have an alternative to jump to.
No, we absolutely do not. It’s too late to stop gracefully - I cannot overstate how much worse it’s going to get if we stop even now.
Consumption needs to go down, this will collapse the delicate house of cards we’ve built… and we have no other choice.
Can you not eat? There are some things you have to consume all days.
Just basic requirements for life and nothing extra will destroy any developed countries economy. If things aren’t sold they’ll stop sending them there, so as people just stop buying luxuries, they’ll stop even being an option. Less tax money means the government has issues more than normal, and if you aren’t buying anything who are they gonna tax? The companies won’t have money because they aren’t selling anything.
If you don’t buy luxuries but keep buying groceries, what do you think they will do? Just a hint: groceries also have taxes.
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