As most countries not that much better off than us many are now working with Trump to lower their tariffs so a re-alignment is happening. Yes folks are hurting and things will get worse before better but there are ways to mitigate and keep going. Used cars, shop sales, buy less, no non essentials -no fun but if it brings back jobs to US, lowers foreign tariffs, balances trade then those retirement funds will bounce back. To me, for various reasons non Trump related, this has been most expensive 3 months ever but.I’m still willing to let it play out.
I've been a daily EE reader since early Red State days, but this constant, arrogant drumbeat against tariffs may be enough to cause me to cancel my subscription.
EE, you seem different now than even 12 months ago. I am even in agreement with you on tariffs! But your dismissal is so sweeping, so categorical, so dismissive, that I think you're wrong. The fact is that on the other side of the coin, free trade agreements have failed the American people. I worked on those FTAs in the early 2000s. They benefitted the upper class and decimated the middle class and working poor. We were wrong about free trade.
I implore you to back away from your arrogance and certitude. Consider Rush Limbaugh in the Spring of 2017 who frequently cited Angelo Codevilla- all our free trade economic theory meant nothing to factory workers losing their jobs. But that's what we conservatives reassured them with- references to free market economists and their excellent ideas.
Tariffs may not be the right economic solution, but it's not the wrong one. We free traders were wrong.
Erick, yes, these tariffs, the way they are presented and structured, are stupid - counterproductive and bad for our economy. Keep saying it, again and again. Thank you!
I see no point in this commentary. The tariffs will do what they will do. No point in making predictions or offering useless opinions. Other than simply throwing FUD around.
Tired of hearing about the tariffs? I think Erick's concerns are actually understated.
Even Trump seems to acknowledge that tariffs will mean higher prices. Replacing illegal immigrants, now too afraid to show up at work, will require higher wages; also putting upward pressure on prices. Meanwhile, their reduced buying power, together with that of laid off federal workers, together with the reduced spending of people who are seeing their retirement savings depleted with falling stock prices, all helps depress aggregate demand such that more people start losing their jobs. Falling aggregate demand further spooks investors who are already nervous over tariffs. So they continue parking their money in safe havens instead of making the investments that help boost the economy. Throw in a heaping helping of bank deregulation (just wait - it's coming) - banking crises being the usual trigger point for major economic downturns - together with a national debt already so massive that bailing out the banks could shake people's confidence in the "full faith and credit" behind that national debt, and you have a real economic house of cards.
But then again, what could go wrong? Didn't Trump handle that last major crisis (the pandemic) just splendidly?
Trump also needs to realize that there are a lot of people who are living on fixed incomes and our paychecks are also not keeping up with inflation. I’m all for what Trump is doing but I think he needs to take a breath and listen to someone who can point out that we the older generation are still struggling. I will admit that patience is not one of my strong suits.
Listen to someone who disagrees with him? Good luck with that.
Trump's appointments this time around reflect a decided preference for loyalty and ideological purity over experience and expertise; and most definitely over backbone. Now, all the king's men think he looks just splendid in those clothes that everyone else is just too stupid to see.
Personally I believe that his cabinet is one of the most qualified group of people in decades. Apparently you are into the people who check DEI boxes rather than have any qualifications.
Yeah, maybe you're right. I mean, what better training and experience could there be for a Secretary of Defense (and the proper handling of classified information) than hosting a cable news show?
Been there, done that? What has Hegseth's little brother been or done to justify getting a high-level job at DOD (except have his big brother hand him a $108,000/yr. job right out of college at the non-profit that Hegseth previously mismanaged into the ground)?
Ok Erick got it your view is President Trump’s tariffs are a bad idea. You talked about it Friday, you talked about it this morning and are rehashing this afternoon. You’ve convinced everyone who already agreed with you.
As most countries not that much better off than us many are now working with Trump to lower their tariffs so a re-alignment is happening. Yes folks are hurting and things will get worse before better but there are ways to mitigate and keep going. Used cars, shop sales, buy less, no non essentials -no fun but if it brings back jobs to US, lowers foreign tariffs, balances trade then those retirement funds will bounce back. To me, for various reasons non Trump related, this has been most expensive 3 months ever but.I’m still willing to let it play out.
I've been a daily EE reader since early Red State days, but this constant, arrogant drumbeat against tariffs may be enough to cause me to cancel my subscription.
EE, you seem different now than even 12 months ago. I am even in agreement with you on tariffs! But your dismissal is so sweeping, so categorical, so dismissive, that I think you're wrong. The fact is that on the other side of the coin, free trade agreements have failed the American people. I worked on those FTAs in the early 2000s. They benefitted the upper class and decimated the middle class and working poor. We were wrong about free trade.
I implore you to back away from your arrogance and certitude. Consider Rush Limbaugh in the Spring of 2017 who frequently cited Angelo Codevilla- all our free trade economic theory meant nothing to factory workers losing their jobs. But that's what we conservatives reassured them with- references to free market economists and their excellent ideas.
Tariffs may not be the right economic solution, but it's not the wrong one. We free traders were wrong.
Good one.
Erick, yes, these tariffs, the way they are presented and structured, are stupid - counterproductive and bad for our economy. Keep saying it, again and again. Thank you!
I see no point in this commentary. The tariffs will do what they will do. No point in making predictions or offering useless opinions. Other than simply throwing FUD around.
Tired of hearing about the tariffs? I think Erick's concerns are actually understated.
Even Trump seems to acknowledge that tariffs will mean higher prices. Replacing illegal immigrants, now too afraid to show up at work, will require higher wages; also putting upward pressure on prices. Meanwhile, their reduced buying power, together with that of laid off federal workers, together with the reduced spending of people who are seeing their retirement savings depleted with falling stock prices, all helps depress aggregate demand such that more people start losing their jobs. Falling aggregate demand further spooks investors who are already nervous over tariffs. So they continue parking their money in safe havens instead of making the investments that help boost the economy. Throw in a heaping helping of bank deregulation (just wait - it's coming) - banking crises being the usual trigger point for major economic downturns - together with a national debt already so massive that bailing out the banks could shake people's confidence in the "full faith and credit" behind that national debt, and you have a real economic house of cards.
But then again, what could go wrong? Didn't Trump handle that last major crisis (the pandemic) just splendidly?
Trump also needs to realize that there are a lot of people who are living on fixed incomes and our paychecks are also not keeping up with inflation. I’m all for what Trump is doing but I think he needs to take a breath and listen to someone who can point out that we the older generation are still struggling. I will admit that patience is not one of my strong suits.
Listen to someone who disagrees with him? Good luck with that.
Trump's appointments this time around reflect a decided preference for loyalty and ideological purity over experience and expertise; and most definitely over backbone. Now, all the king's men think he looks just splendid in those clothes that everyone else is just too stupid to see.
Personally I believe that his cabinet is one of the most qualified group of people in decades. Apparently you are into the people who check DEI boxes rather than have any qualifications.
Yeah, maybe you're right. I mean, what better training and experience could there be for a Secretary of Defense (and the proper handling of classified information) than hosting a cable news show?
Or a been there done that veteran
Been there, done that? What has Hegseth's little brother been or done to justify getting a high-level job at DOD (except have his big brother hand him a $108,000/yr. job right out of college at the non-profit that Hegseth previously mismanaged into the ground)?
https://apnews.com/article/hegseth-brother-signal-dhs-hired-68678a8a653c79a4c6ae31a8bee64836
Got any problem with nepotism, or do you only object to non-merit-based hiring when it involves women or minorities?
Ok Erick got it your view is President Trump’s tariffs are a bad idea. You talked about it Friday, you talked about it this morning and are rehashing this afternoon. You’ve convinced everyone who already agreed with you.
Erick's talked about it WAY more than that!
If you were aboard the Titanic, would you get tired of hearing about that damn iceberg?
And tank the housing industry among others. No way a first time home buyer will be able to afford anything new!
Tank? Actually prices going down 1st time in 4 yrs on homes.