Showing posts with label Trump tariffs. Show all posts
Showing posts with label Trump tariffs. Show all posts

Thursday, April 3, 2025

Stock Market Losing $2 Trillion Today From Trump Tariff War

 

Buh-bye $2 trillion in stock values, just today (including your pension fund and 401(k)!):

Roughly $1.7 trillion was erased from the S&P 500 Index at the start of trading on Thursday amid worries that President Donald Trump’s sweeping new round of tariffs could plunge the economy into a recession.

The damage was heaviest in companies whose supply chains are most dependent on overseas manufacturing. Apple Inc., which makes the majority of its US-sold devices in China, was down about 8% after the open. Lululemon Athletica Inc. and Nike Inc., among companies with manufacturing ties to Vietnam, were down around 10%. Walmart Inc. and Dollar Tree Inc., retailers whose stores are filled with products sourced outside of the US, were trading lower by about 2% and around 11%, respectively.

Few stocks in the US were unscathed with the benchmark index on pace for its biggest decline since 2022. Roughly 70% of companies in the S&P 500 were trading lower at 9:35 a.m. in New York, with almost half of its 500 stocks down at least 2%.

“There’s really not anybody getting spared in absolute terms,” said Garrett Melson, a portfolio strategist at Natixis Investment Managers Solutions. “You’re just wrapped up, today at least, in a broad de-risking, and so it’s kind of just across the board taking chips off the table.”...

That's just for starters, folks.

The immediate impact of the Malignant Fascist's tariff roll out can be seen here as well:

Remember, according to crackpot cultist Speaker Mike "New Moses" Johnson, you have to trust Trump's instincts on the economy, because Genius!

BONUSHold on for dear life (our emphasis) --

Stocks nosedived Thursday, sending the S&P 500 back into correction territory and toward its biggest one-day loss since 2020, after President Donald Trump unveiled sweeping tariffs, raising the risk of a global trade war that plunges the economy into a recession.

The broad market index dropped 5%, putting it on track for its worst day since June 2020. The Dow Jones Industrial Average tumbled 1,630 points, or 3.9% for its biggest decline since September 2022... 
Day One of Trump's Tariffs.


Wednesday, April 2, 2025

QOTD -- No Exemptions!

 

"... If a farm family voted for Trump, believing that his policies were good, it seems strange that they would then demand that they, and only they, should be spared the full consequences of those policies.  Tariffs are the dish that rural America ordered for everyone. Now the dish has arrived at the table. For some reason, they do not want to partake themselves or pay their share of the bill. That’s not how it should work. What you serve to others you should eat yourself. And if rural America cannot choke down its portion, why must other Americans stomach theirs?" -- David Frum, in The Atlantic ($), on why Trumpers in the farm community need to eat the results of the tariffs their votes brought on.  They shouldn't be bailed out any more than any other sector, in our opinion.  Unfortunately, the full glory of Trumpism needs to be felt by all, innocent and guilty.


Tuesday, April 1, 2025

Colbert Looks At Trump's Tariff Chaos

 

In case you missed it, in his monologue last night, Stephen Colbert looked at the Malignant Fascist's chaotic tariff rollout, a.k.a "Liberation Day," his unlawful thoughts about a third term, the visit to Greenland by couch lover JD Vance and more. He also notes a change in the "MAGA" brand. 

Friday, March 28, 2025

Making America Dumber And Poorer Again

 



A quick look at some of the things not Making America Great Again today:

"Improper ideology"

US President Donald Trump signed an executive order Thursday to remove "improper ideology" from the famed Smithsonian Museums -- and the National Zoo -- expanding his conservative clampdown on cultural institutions.

Trump, who has sought to root out what he called "woke" culture since returning to power in January, accused the Smithsonian of trying to rewrite American history on issues of race and gender.

His order puts hardline Vice President JD Vance in charge of efforts to carry out the order at the Smithsonian's museums, educations and research centers.

Trump said this should include a drive to "remove improper ideology from such properties."

The Smithsonian operates 21 internationally renowned museums and galleries, mainly in and around Washington, dedicated to art, science, space and American history.

They include the National Zoo in the US capital, which recently welcomed two giant pandas from China, debuting them to the public just days after Trump's inauguration for a second term.

The presidential order -- titled "Restoring Truth and Sanity to American History" -- targeted a number of examples of what it also called "corrosive ideology."...

In the gaslighting, up- is- down world Americans now live in, "corrosive ideology" is now something other than the fascistic, white nationalist, lawless brutishness of Trump and his un-American "ideology."

Trump's Canadian tariffs

Thomas Bard expected a big boost this year, when stores in Saskatchewan and Ontario planned to start selling his distillery’s bourbon. Instead, Canadian provinces yanked U.S. alcohol from their shelves - pitching Bard’s small Kentucky company into the center of a nascent trade war.

“It’s a huge deal when you get a new customer base,” Bard said. “So for this to be, just be taken away from us. … That’s an absolute punch to the gut.”

Alcoholic drinks have become the subject of dueling tariff threats between the United States and its neighbors. But some craft liquor distillers such as Bard say they are particularly hard-hit because they see other countries as better targets for growth than parts of the highly regulated and crowded U.S. market.

“It’s easier to get into Canada than it is to get into some other states here,” said Bard, whose distillery has been selling its whiskey in Alberta and British Columbia for two years.

Canada enacted a 25 percent tariff on U.S. products including spirits and beer in early March in retaliation for levies imposed on Canadian goods by President Donald Trump. The European Union recently threatened to place a 50 percent tax on U.S. whiskey, although it delayed those duties for several weeks. Trump said the United States would in turn tax E.U. alcohol at 200 percent.

Big brands can weather those financial ramifications - and may even benefit if some competitors are pushed out of the U.S. market, experts say. But smaller players often lack the resources or infrastructure to navigate the U.S. regulatory landscape.  [snip]

Alastair Brogan’s craft-whiskey distillery in Colorado typically gets 5 percent of its revenue from Canadian sales. Brogan no longer expects that this year, but he considers the bigger hit to be the loss of goodwill toward American whiskey and the brand he built.

“All the energy, resources that American distilleries have put into being in Canada has just been wiped out.” he said.

This is just the tip of the iceberg. Here's what Canadian PM Mark Carney says about what the moron madman Malignant Fascist has wrought:

Canadian Prime Minister Mark Carney said that Canada's old relationship with the United States, "based on deepening integration of our economies and tight security and military cooperation, is over".

Speaking to reporters in Ottawa after a cabinet meeting, Carney said Canadians must "fundamentally reimagine our economy" in the face of US President Donald Trump's tariffs.

He said Canada would respond with retaliatory tariffs that will have "maximum impact" on the US. [snip]

Carney, the Liberal Party leader, called the original Canada-US Automotive Products Agreement signed in 1965 the most important deal in his lifetime.

"That's finished with these tariffs," he said in French...

Somewhere in the Kremlin, Putin is laughing.

Trump imported auto tariffs  

Auto tariffs announced by President Donald Trump will likely raise car prices by thousands of dollars days after the policy takes effect, while hiking costs for repairs and insurance, some experts told ABC News.

Within hours of the policy rollout, Ferrari said it will raise prices by as much as 10% for some models to compensate for the tariffs.

The 25% tariffs, set to take effect next week, will apply to imported passenger vehicles, including cars, SUVs, minivans, cargo vans and light trucks, according to a White House statement released after Trump's Oval Office remarks on Wednesday.

The tariffs will also apply to key imported auto parts, including engines, powertrain parts and electrical components.

"I have talked to consumers who say, 'Well, I'm not buying a car, so it doesn't really matter.' Well, think again," Jessica Caldwell, head of insights at Edmunds, told ABC News. "This is really all encompassing."  [snip]

Last year, U.S. shoppers bought approximately 16 million cars, SUVs, and light trucks, half of which were imported, the White House said.

The other half of the auto sector – made up of U.S.-made cars – will also undergo significant price hikes since manufacturers will face higher costs for imported parts and face an uptick in demand as buyers seek out domestic alternatives, experts said.

"The question is: What will happen to all the cars made here in the U.S?" Christopher Conlon, a professor of economics at New York University who studies trade, told ABC News...

In his childish misunderstanding of the interconnectedness of the world economy as it exists in the 21st Century, the blundering buffoon Americans elected President is sabotaging the prosperity of people in America and all over the world.  If you haven't felt the effects yet, give it a little time.  Permit us some schadenfreude if it hits MAGAts a little harder.


Monday, March 17, 2025

The Good, The Bad, And The Ugly

 

The good:

As President Trump imposes tariffs on products from countries around the world, foreign governments are answering back with tariffs of their own.

China has targeted corn farmers and carmakers. Canada has put tariffs on poultry plants and air-conditioning manufacturers, while Europe will hit American steel mills and slaughter houses.

The retaliatory tariffs are an attempt to put pressure on the president to relent. And they have been carefully designed to hit Mr. Trump where it hurts: Nearly 8 million Americans work in industries targeted by the levies and the majority are Trump voters, a New York Times analysis shows.

The figures underscore the dramatic impact that a trade war could have on American workers, potentially causing Mr. Trump’s economic strategy to backfire. Mr. Trump has argued that tariffs will help boost American jobs. But economists say that retaliatory tariffs can cancel out that effect.

The countermeasures are aimed at industries that employ roughly 7.75 million people across the United States. The bulk of those — 4.48 million — are in counties that voted for Mr. Trump in the last election, compared with 3.26 million jobs in counties that voted for former Vice President Kamala Harris, according to a calculation by The Times that included examining retaliatory tariffs on more than 4,000 product categories. [snip]

The jobs that could be hit by retaliation are especially concentrated in pockets of the upper Midwest, South and Southeast, including many rural parts of the country that are responsible for producing agricultural goods. It also includes areas that produce coal, oil, car parts and other manufactured products.

Robert Maxim, a fellow at the Brookings Metro, a Washington think tank that has done similar analysis, said that other countries had particularly targeted Trump-supporting regions and places where “Trump would like to fashion himself as revitalizing the U.S.” That includes smaller manufacturing communities in states like Wisconsin, Indiana and Michigan, as well as southern states like Kentucky and Georgia, he said.

The message foreign countries are trying to send, he said, is, “You think you can bully us, well, we can hurt you too. And by the way, we know where it really matters.”...

We truly hesitate to applaud any actions that can lead to hardship for any Americans.  But we've already reached the point where the Malignant Loser's sabotage of the American economy is on him, and on the tens of millions of voters who put him back in office four years after he demonstrated his incompetent and malicious stewardship.  If his people didn't think his bullying tariffs and thuggish undocumented immigrant sweeps were going to affect them personally, well maybe it's time to pop their MAGA bubble.  You get what you vote for. 

The bad:

Portions of Pennsylvania, New York and Mid-Atlantic and Southeast states were still under a National Weather Service watch for damaging wind and tornadoes, as the death toll from weekend storms rose to 36 people across six states.  [snip]
 
The storms that hit the South and the Midwest headed east on Sunday. More than 340,000 consumers had no power in the affected areas as of late afternoon on Sunday, according to the website PowerOutage.
Missouri reported the largest number of deaths, 12 fatalities spanning five counties, the state's highway patrol posted on X. Missouri Governor Mike Kehoe said there was still one person missing in the state, which saw widespread destruction across 27 counties.
 
Robbie Myers, the director of emergency management in Missouri's Butler County, told reporters that more than 500 homes, a church and a grocery store in the county were destroyed. A mobile home park had been "totally destroyed," he said.
 
"Everything around it here is really bad," Missouri resident Rick Brittingham told Reuters from Butler County. "The trailer park up the street had fatalities. So, I mean, we don't have nothing compared to anything like that. I still have a home. They don't."
 
Mississippi Governor Tate Reeves posted on X that six deaths had been reported in the state – one in Covington County, two in Jefferson Davis County and three in Walthall County.
 
According to preliminary assessments, 29 people were injured statewide and 21 counties sustained storm damage, Reeves said.
 
In Arkansas, three deaths occurred, the state's Department of Emergency Management said, adding that there were 32 injuries.
 
Eight deaths were confirmed in a crash involving more than 50 cars in Sherman County in Kansas, caused by a severe dust storm, the Kansas Highway Patrol said in a statement. Many injured travelers were taken to local hospitals.
We posted some pictures yesterday of the damage across central and southern states. We'll keep an eye on how well (or poorly) the Malignant Fascist tends to the disaster, and more that will follow during tornado season the the U.S.

The ugly:

Donald Trump claimed late Sunday — in a middle-of-the-night rant on his Truth Social platform — that he’d declared the pardons that were issued by his predecessor, former President Joe Biden, before leaving office to be “VOID, VACANT, AND OF NO FURTHER FORCE OR EFFECT.”

The president claimed Biden’s pardons were signed by an autopen, seizing on a report last week from a right-wing group that alleged frequent use of the mechanical device in the Biden White House. Commentators used that report to boost allegations of Biden’s cognitive decline.

“In other words, Joe Biden did not sign them but, more importantly, he did not know anything about them,” wrote Trump, who also used autopen during his first term. [snip]

Trump in the post further warned those who’d been pardoned by Biden — such as members of the House committee that investigated the U.S. Capitol riot and who weren’t charged with any crime — should now “fully understand that they are subject to investigation at the highest level.”  [snip]

Critics slammed Trump’s comments as “dictator shit,” questioned the legality of the post and warned how it could backfire on the president...

We omitted the deranged social media post from the moron madman Malignant Fascist (you're welcome), but the chilling threat of investigation and prosecution as retribution is, indeed, "dictator shit," even if there's nothing in the Constitution that gives the Malignant Fascist the power to void previously issued pardons.  It also conforms with his lawless decision to ignore Federal judges' orders whenever they don't suit him.  None of this should come as a surprise to anyone who's been paying attention to his increasingly arbitrary and autocratic outbursts for, like, ever.  With a spineless Republican MAGA cult and a supine Democratic leadership in the Senate playing circa 1996 checkers to the Malignant Loser's "Warhammer 40,0000," and the courts increasingly being ignored, we have yet another Constitutional crisis on our hands.  How many is that in the past 2 months?  We lost track.


Thursday, March 6, 2025

Bluff Called: Trump Caves On Auto Tariffs, For Now

 



The economically illiterate moron madman Malignant Fascist -- seeing the Dow drop 1,300 points in two days since his tariffs on Canada and Mexico were put in place and likely having heard from some billionaire investor cronies -- made an abrupt u-turn:

President Donald Trump’s pause on new tariffs for U.S. automakers drew ire and mockery on social media.

White House press secretary Karoline Leavitt on Wednesday announced a one-month exemption for the industry on imports from Mexico and Canada. It came amid fears the 25% tax hike could totally sink U.S. vehicle manufacturers who for years have relied on cross-border cooperation. A car dealer suggested as much this week on Fox Business, explaining how a truck was now on his lot indefinitely after soaring in price from $80,000 to $100,000.  [snip]

Washington Post opinion columnist Catherine Rampell talked about the possible long-term implications of Trump’s moves, writing, “I’m sure the auto industry welcomes this temporary reprieve ― but again, how can businesses possibly make investment/hiring decisions in this environment?”

Conservative attorney George Conway had the proper assessment:

... “What an incredibly incompetent clown. Maybe he should have thought about the (patently obvious) effect of tariffs on the auto industry *before* imposing them? He’s like a monkey on a keyboard.”

No offense to monkeys intended, we're sure.

(Photo illustration: Newsweek/ Getty Images)


Tuesday, March 4, 2025

As Tariffs Kick In, The Dow Drops

 

After yesterday's sell off, Wall Street is poised today for more declines as the destructive and unnecessary tariffs on Mexico, Canada and China take effect. The Malignant Fascist has consistently misunderstood tariffs, not acknowledging that it's actually a tax on American consumers, and believing the money raised will offset the inflationary damage and likely recession they will produce. From the Associated Press:

"Wall Street lost momentum before the opening bell Tuesday and markets in Europe and Asia slid after new tariffs were imposed by U.S. President Donald Trump, and more retaliatory tariffs were announced by China.

The declines added to a big selloff Monday. Futures for the S&P 500 and Nasdaq each fell 0.6% in premarket trading. Futures for the Dow Jones Industrial Average slipped 0.3%.

China’s tariffs on American beef, corn, soy and other farm products announced Tuesday expanded the potential impact of Trump’s trade tactics, said Francis Lun, CEO of Geo Securities in Hong Kong.

'I don’t think China will buy any more U.S. farm products. The orders will go to South America,' Lun said. 'I think all in all, it’s a lose-lose situation. Nobody gains anything.'

Anxiety over tariffs is also bleeding into the corporate side of the economic equation. Target reported Tuesday that sales and profit in the crucial holiday quarter both fell from a year ago, though they were better than expected. The Minnesota retailer said there will be 'meaningful pressure' on its profits to start the year because of tariffs and other costs." (our emphasis)

As various sectors of the economy and the consumer start to suffer from inflationary pressure and supply chain interruptions due to tariffs, in a just world, the MAGA voters should be the only demographic to suffer the consequences. If they thought the price of eggs was too high under the Biden Administration, they haven't seen anything yet. FAFO.

BONUS: As tariffs are applied, tech bros are just beginning to FAFO. Cyber grift bros, too.

 

Monday, February 17, 2025

Trump: Let Europe Block American Ag Imports, "I Don't Mind"

 



We have a feeling that a whole new bunch of Trump voters will be having a visit from the face-eating leopards:

U.S. President Donald Trump on Sunday shrugged off the European Union's reported push to block imports of U.S. soybeans and other foods made to different standards, warning such a move would only hurt Europe itself.

Trump, speaking to reporters after a quick trip to Daytona Beach for the Daytona 500 car race, said the U.S. was sticking to its plans to start implementing reciprocal tariffs.
"That's alright. I don't mind. Let them do it. Let them do it. It's just hurting themselves if they do that," he said.
 
The Financial Times reported earlier on Sunday that the European Commission would agree next week to explore tough import limits on certain foods made to different standards in an effort to protect its farmers, echoing Trump's reciprocal trade policy.
 
Early targets could include U.S. crops such as soybeans grown using pesticides that EU farmers are not allowed to use, the report said, citing three officials it did not name.
 
Asked about the report earlier, a White House official earlier said Trump was fighting for fair and reciprocal trade and would stand up for American farmers.  [snip]

Tensions are running high between the U.S. and the EU after Trump's decision to impose 25% tariffs on steel and aluminum from March 12; reciprocal tariffs from April; and separate tariffs on cars, pharmaceuticals and semiconductor chips.
 
All those tariffs would stack on top of each other, U.S. officials have said.
 
"But, we took Trump seriously but not literally!"  First, putting USAID "in the wood chipper," cutting off a significant market for American farmers.  Next, retaliatory tariffs.  The Malignant Fascist and President Musk couldn't be doing a better job of destroying America from within if they were Putin ... hmmm.

BONUSMore reaction here.

(Photo:  Justin Merriman/ Bloomberg News)


Monday, February 10, 2025

The Good, The Bad, And The Ugly

 

The good:

California Gov. Gavin Newsom signed laws Friday setting aside $50 million to help the state protect its policies from challenges by the Trump administration and defend immigrants amid the president’s mass-deportation plans.

One of the laws allocates $25 million for the state Department of Justice to fight legal battles against the federal government, and another sets aside $25 million in part for legal groups to defend immigrants facing possible deportation. During his first presidency, Trump sparred with California over climate laws, water policy, immigrant rights and more, and the state filed or joined more than 100 legal actions against the administration. The same fights are reemerging in the early days of Trump’s second term.

“Californians are being threatened by an out-of-control administration that doesn’t care about the Constitution and thinks there are no limits to its power,” said Democratic Assembly Speaker Robert Rivas, in a statement earlier this week. “That is why we are delivering legislation that will allocate resources to defend Californians from this urgent threat.”

The move comes a day after the Democratic governor returned from Washington, where he met with Trump and members of Congress to try to secure federal disaster aid for the devastating Los Angeles-area wildfires that ripped through neighborhoods in January, killing more than two dozen people...

While some Democratic governors are still hesitant to take the Malignant Fascist head- on, Newsom and Illinois Gov. JB Pritzker are being more upfront about challenging his on-going, malevolent coup. They must be supported, and the shrinking violets behind them need to step up more forcefully.  (And yes, we know Newsom has supermajorities in his State legislature that allow him more flexibility than most other Democratic governors.  Still...)

The bad:

U.S. President Donald Trump said on Sunday he will introduce new 25% tariffs on all steel and aluminum imports into the U.S., on top of existing metals duties, in another major escalation of his trade policy overhaul.

Trump, speaking to reporters on Air Force One on his way to the NFL Super Bowl in New Orleans, said he will announce the new metals tariffs on Monday.
He also said he will announce reciprocal tariffs on Tuesday or Wednesday, to take effect almost immediately, applying them to all countries and matching the tariff rates levied by each country.
 
"And very simply, it's, if they charge us, we charge them," Trump said of the reciprocal tariff plan.
The largest sources of U.S. steel imports are Canada, Brazil and Mexico, followed by South Korea and Vietnam, according to government and American Iron and Steel Institute data.
 
By a large margin, hydropower-rich Canada is the largest supplier of primary aluminum metal to the U.S., accounting for 79% of total imports in the first 11 months of 2024.
 
"Canadian steel and aluminum support key industries in the U.S. from defence, shipbuilding and auto," Canadian Innovation Minister Francois-Philippe Champagne posted on X.
 
"We will continue to stand up for Canada, our workers, and our industries."...
The moron is going to Smoot- Hawley America into another depression, which somehow he and the media will blame on Joe Biden.  Putin and Xi must be loving this.

The ugly:

Is this the greatest Eagles team of all time? It’s worth considering after the way Nick Sirianni’s team beat down the Chiefs — the two-time defending champions — in a 40-22 wipeout Sunday night in Super Bowl LIX.

Patrick Mahomes had nowhere to go against Vic Fangio’s snarling defense, which sacked him six times. Rookie Cooper DeJean picked off Mahomes for his moment in the Super Bowl sun, a 38-yard touchdown return. Zack Baun picked him off, too.

The Eagles offense? It was coolly efficient behind Jalen Hurts, who passed for 221 yards and ran for 72 more in an MVP performance. Saquon Barkley had a quiet night, but it did not matter one bit.

The overpowering Eagles made it a physical mismatch on both sides of the ball. The greatest Birds ever? They made a pretty strong case, and Mike Sielski takes it a step further, calling these Eagles the best Philly team of all time.

It's always good to step back after one of these ugly games and remind ourselves that -- take away the insane hype, the over- promotion, the breathless anticipation -- this is just. a. football. game.  Yes, it's between the two conference champs, but it's still just. a. football. game.  They can be exciting and competitive, or they can be ugly mismatches like Super Bowl LIX (pronounced "licks"), which could be Super Bowl SUX.  But congratulations to the Philadelphia Eagles and their fans, and condolences to the Kansas City Chiefs and their fans.   Meanwhile, here's one rating of what millions tune in for, the commercials.


Thursday, January 9, 2020

Americans Paying 100 Percent Of Trump's Tariffs


Winning!
President Trump made over 100 claims about China and tariffs in 2019, stating that Beijing was paying “tremendous amounts of tariffs.” However, new research from the National Bureau of Economic Research (NBER) found the opposite.
“U.S. tariffs continue to be almost entirely borne by U.S. firms and consumers,” the NBER working paper stated. “Similarly, we also find that the substantial redirection of trade in response to the 2018 tariffs has accelerated.”
The Trump administration has placed tariffs on $550 billion worth of imports from China, and China has slapped $185 billion worth of imports from the U.S. since the trade war between the two countries began in March 2018.
On August 3, 2019, Trump claimed that “our consumer is paying nothing” in regard to the tariffs, but NBER stated that “approximately 100% of these import taxes have been passed on to U.S. importers and consumers.”
American consumers and businesses paid at least $42 billion for the tariffs as of October 2019, according to an analysis from Tariffs Hurt the Heartland (THH). In October 2019, the trade war cost an additional $7.2 billion through tariffs, an $1 billion increase from October 2018.
Thanks, Very Stable Genius!

Thursday, August 1, 2019

Trump's Farm Bailout Was A Ripoff?!?!




The f*ck you say!

Just like the 2017 trillion dollar tax cut for corporations and the wealthy, the farm bailout to ameliorate the pain from nitwit narcissist Donald "Not Exonerated" Trump's trade wars will benefit the part of the Republican base that matters most:
The Trump administration last week revealed details of a $16 billion aid package for farmers hit in the U.S.-China trade war, with key provisions meant to avoid large corporations scooping up big payouts at the expense of small farmers.
According to a report released Tuesday by the nonprofit Environmental Working Group (EWG), most of the $8.4 billion given out so far in last year’s farm bailout went to wealthy farmers, exacerbating the economic disparity with smaller farmers.
An EWG analysis found that the top one-tenth of recipients received 54 percent of all payments. Eighty-two farmers have each so far received more than $500,000 in trade relief.
One farm, DeLine Farm Partnership of Charleston, Mo., has so far received $2.8 million.
The top 1 percent of recipients of trade relief received, on average, $183,331. The bottom 80 percent received, on average, less than $5,000, EWG said(our emphasis)
Not sure what the "patriotic" small farmers Trump expects to soldier on can do with $5,000.  That might just cover a month's operating expenses on a small farm.  Meanwhile, markets that these farmers used to sell to are being lost forever, all thanks to the Very Stable Genius's ignorance about how tariffs work.

Winning!

Sunday, June 2, 2019

Twit Tweet, Thwap -- Fool Of The Present


Twit tweet:


Thwap:





For proof of how other nations treat Trump with respect, see post below.

Friday, May 31, 2019

Trump Threatens Tariffs On Mexico


Extremely Stable Genius Donald "Not Exonerated" Trump once again takes dead aim at his foot:
Trump announced Thursday his intentions to levy 5 percent tariffs on Mexican imports starting June 10, penance for what he sees as a failure to stop the flow of Central American migrants through the southern border. With every month that passes without action from Mexico, the tariff would jump in 5 percent increments until they hit 25 percent on Oct. 1, according to a White House statement. They’d stay at that threshold until Mexico substantially stops the inflow of illegal immigration, the statement said.
Needless to say this has some otherwise compliant and complicit Republicans howling about the harm this would do to the farmers in their states.  But it would also gravely impact the auto and other manufacturing industries and derail Trump's own tweaked version of NAFTA, the USMCA.  And the US and European stock markets and business community reacted negatively to the news that, once again, the Extremely Stable Genius was playing chicken with the world economy.

Well, as they say, when you elect a clown, expect a circus.

BONUS




BONUS IIAnd dolts like this are standing with him even at the expense of their livelihood.  Clearly, it's not a case of "economic anxiety."