April 9, 2025
"President Trump on Wednesday said he would pause his reciprocal tariffs for most countries for the next 90 days, backing down on his policy..."
"... that had sent markets into a tailspin and threatened to upend global trade. But Mr. Trump said his break did not include China.... Karoline Leavitt, the White House press secretary, said the tariff level would be brought down to a universal 10 percent.... The reversal, which immediately prompted the S&P 500 to climb over 7 percent in a matter of minutes.... Treasury Secretary Bessent reiterated that the pause indicated that Trump cared about trade and wanted to make 'bespoke' trade deals with countries that were willing to lower barriers. Bessent also argued that Trump 'goaded' China into showing that they were the 'bad actors.'... ... Bessent tried to spin the pause as part of Trump’s strategy and not a capitulation, saying that the tariffs had worked to get some of China’s closest neighbors to seek deals with the United States. 'Do not retaliate, and you will be rewarded,' he said...."
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141 comments:
Trump even posted a few hours before the announcement "Now is a great time to BUY!" The balls on this guy. Hilarious.
The EU already retaliated, while countless countries are frantically trying to curry favor.
As ever, it's good to do two things.
1) Assume the corporat media lies,
2) Wait 48 hours instead of panicking over every hourly news cycle.
Bond Market 1 Trump 0.
Bessent got really worried about treasury yields.
backing down on his policy...
Shorter NYT: Seventy-five countries beg to reduce trade barriers -- Trump hardest hit!
While Trump leans forward, NYT reports he's backing down. He's been concerned with regulatory parity since at least the 80s. He will not sacrifice Americans for transnational special and peculiar liberal corporate interests. Democrats are stumbling. Republicans need to do better than fumble to remain a viable choice. Good luck.
All's for the best in this best if all possible worlds.
This is all part of the cunning plan — stable genius at work.
Abacus Boy LLR-democratical Rich: "Bond Market 1 Trump 0.
Bessent got really worried about treasury yields."
LOL
All of Rich's previous serial lies: 0
Reality: Infinity
Rich's assessment: quickly move to next series of lies!
Its amazing and amusing to watch in real time!
Status of Trump actions as we speak: inflation down. Food prices down. Energy prices down/oil prices down, non-govt employment up, the worlds nations lining up to alter trade arrangements to fairer and more US friendly terms.
LLR-democratical Rich is very, very upset about all of that...he even "predicted" (LOL) all of that, every bit of it and more, was literally impossible!
readering: "All's for the best in this best if all possible worlds."
Meanwhile, not working out so well for your completely corrupt Judge McCormick and the completely corrupted Delaware Court of Chancery, is it?
"Bessent tried to spin the pause as part of Trump’s strategy and not a capitulation..."
Don't ever change NYT.
Trump admin has, in record time, ensured key trading partners India, Japan, key EU players, South Korea, Vietnam etc will remain in the US economic sphere of interest (no movement away from USD as reserve currency, no allowing LLR-democratical Rich's ChiCom pals to use these nations as arbitraging pass thru trade amigos, etc)
Tjis cuts off Rich's ChiCom allies at the knees. Without the US market, without significant alternative partners to increase trade with, where do the ChiComs turn?
Nowhere.
The Yuan is collapsing, Rich's ChiCom allies only own 2.8% of all outstabding US treasuries...which they selling along with using dollars to prop up their companies along with having the ChiCom central bank artificiallypropping up ChiCom company stock prices....but there's only so much you can draw from that well.
What will Rich's ChiCom allies do next? Raise tariffs on US imports by a kajillion percent? Who cares!
Do they dare confiscate Tesla giga factory? Steal even MORE US intellectual Property?
Rich and his pals would heartily cheer those actions, wouldn't they?
But even the ChiComs aren't that dumb, even if their pal Rich is.
Trump's plan isn't going to go without hitches and glitches. The sell off in bonds is largely China cashing out for dollars, probably to buy gold. Other countries need the cash to prop up their own currencies. The tariff pause is is likely because there are enough countries willing to negotiate terms Trump feels he can concentrate on China.
The treasury market just showed him who is the boss.
market-ticker.org
As Bessent said, if tariffs are simply a tax that will be paid by American consumers then why does China, the UK, any other nation in the EU or elsewhere care how high we set them? If we pay them and not them, why do they care and why would they "retaliate"? You only retaliate against something that you are being forced to pay.
Reality is that they all know damn well why the jobs went there from here and that absent said arbitrage
Trump has higher expectations for the People and our Posterity, as do most Americans. Onward and forward-looking. International cooperation through reconciliation.
Abacus Boy LLR-democratical Rich: "The treasury market just showed him who is the boss."
LOL
It's now offically appropriate to simply point at and laugh at Rich.
I wonder what Rich's "war hero" Jazzy Spirit Fingers Stolen Valor Walz is thinking right now?
Have some self-respect, Drago 🤡
Final_Version_of_Tarrifs_actualFINALcopy_version7_USETHISONE.docx
n.n.: "Trump has higher expectations for the People and our Posterity, as do most Americans."
Quite so, even though there are some Americans, like Rich, firmly and irrevocably in the pro-ChiCom America Last camp.
The tariff pause is is likely because there are enough countries willing to negotiate terms
Yes. Trump has long demonstrated an interest in reciprocal negotiations conducted in good faith.
So next Golden Era starts in 90 days? Asking for a friend…😂
"Senate Republicans trying to strip Trump's tariff authority because he's going after China should tell you everything you need to know." Shawn Farish in my X feed.
Gusty Winds said...
Trump even posted a few hours before the announcement "Now is a great time to BUY!" The balls on this guy. Hilarious.
Exactly. If you take him seriously and literally sometimes you can make bank.
Here’s all one needs to know regarding ‘Drago’
Copy, paste, and spam.
Drop pre-packaged Twitter talking points full of false equivalencies, chanting points, and conspiracies.
🤡
I appreciate how kaka ends shim’s posts with his signature color photo. It’s a nice touch.
With this move, Trump shows that he is willing to negotiate with every nation who is also willing to negotiate with him. His first move revealed which nations those are. China isn't one of them. Most of the rest of the world is ready to work together to hash out a new, fairer trade paradigm and embrace a prosperous future. Trump puts the lie to the narrative that he's stupid, ignorant, simplistic, unreasonable, oblivious, etc and will drive right over a cliff with his eyes closed. His eternal detractors will cling to that narrative as always.
Right now China looks like the unreasonable one.
Congress gives President 3 tariff levers. President uses those levers. Congress is apoplectic.
THAT tells you all you need to know.
China unleashed COVID-19 (with an assist from Fauci). We, and the entire free world, should be doing everything possible to bring them to their knees. They've earned it.
Poor LLR-democratical Rich. The results after just a few days are displayed everywhere in full view.
Your latest lies have collapsed, just like your "inevitable" kamala win over Trump...which you literally declared "impossible" for her to lose! That was a real keeper, eh?
You are officially far beyond even LLR-democratical Chuck in how badly you have exposed yourself in your avalanche of lies and failed predictions.
Its pathetic...but fun!
Abacus Boy LLR-democratical Rich: "Copy, paste, and spam.
Drop pre-packaged Twitter talking points full of false equivalencies, chanting points, and conspiracies."
LOL
Your confession by projection is accepted. Fully.
Repetition Day!
Drago — I truly admire your optimism that there is a plan here….
DDB up 25% today. Recent buys were smart!
Trump is Michael Corleone. Xi is Mo Green. We know how that ended.
Abacus Boy LLR-democratical Rich: "Drago — I truly admire your optimism that there is a plan here…."
What a coincidence! I admire not a single thing about your years long serial lies and failed predictions based on malicious leftist lawfare, America Last "loserism"', New Soviet Democratical Destroy America policies, etc.
And I "admire you not" in the most optimistic ways possible!
Dave Begley: "Trump is Michael Corleone. Xi is Mo Green. We know how that ended."
And LLR-democratical Rich is the hooker that gets gunned down in bed with Tattaglia.
My friends and I have been debating for the last week whether this was a negotiating ploy or a long-term commitment to protectionism. Every time Trump said this is for real and declared his love of tariffs as a magic elixer, heavy eye rolling followed, with people muttering "Smoot-Hawley" and "the proper rate is zero". One steadfast soul said this is a ploy to enter into bilateral negotiations with important trading partners. Nobody came up with this is a scheme to isolate China.
We await further developments.
Lets see what plays out over the next 90 days. If there are no agreements signed and Trump doesn't reinstate the tarriffs, then this was all for nothing. Anyone want to guess how much money Bich lost today?
Again, this just shows how absolutely moronic the MSM and Democrats are. Anything Trump does is wrong, and sends them into hysterics and "OMG, look what Trump did, its totally wrong, it'll end in disaster, its evil, its stupid, OMG OMG".
Now, that i've heard endless screeching about "The economy will collapse" and "Its a trade war, its a trade war". I guess they'll calm down now. For about 2 seconds. And then they'll go off about the next thing Trump does.
Even worse are the GOPe "Free trade" types, who were anonymously predicting disaster, and stroking their wise ol' Grey Beards, and pontificating. All these politicans are complete idiots. I wouldn't hire them to run a lemonaid stand.
Captain Haddock: "What a week, huh?"
Tintin: "Captain, it's Wednesday."
..even Ann got this one right. C’mon lefties! Do better…
Bill Ackman getting back "onside" on X: "The benefit of @realDonaldTrump’s approach is that we now understand who are our preferred trading partners, and who the problems are. China has shown themselves to be a bad actor.
Our counterparties also have a taste of what life is like if they don’t take down their trade barriers.
This is the perfect setup for trade negotiations over the next 90 days.
Advice for China:
Pick up the phone and call the President. He is a tough but fair negotiator. The longer China holds out and retaliates, the worse the outcome for China."
This was the tell. ⬇️
THIS IS A GREAT TIME TO BUY!!! DJT
Donald J. Trump@realDonaldTrump
4 years of pump and dump schemes. 🤣
4 years of pump and dump schemes
Holy Carp! He hit you with a two by four with this one and you STILL missed it!!! Your loss…
Previous LLR-democratical Rich posts: This is chaos! There is no plan!
New LLR-democratical Rich conjecture: "This was the tell. ⬇️
THIS IS A GREAT TIME TO BUY!!! DJT
Donald J. Trump@realDonaldTrump
4 years of pump and dump schemes."
Shorter Rich: There has always been a plan! A dark, super secret, spooky and nefarious plan!
LOL
Our Abacus Boy Richie is one confused little laddie....in search of whatever new lies and mud might stick with this latest Trump/America First economic battle won...which necessarily means loss for ChiComs/dems/Rich.
So he pivots does a Euro step and then dunks on the Chinese
Howard: "So he pivots does a Euro step and then dunks on the Chinese"
Pithy. Not bad.
Th stock market became an untended forest under the Biden administration. There are lots of dead wood investments because there was nowhere else to put all those inflated dollars.
Trump lit a match with his tariff announcement and started a fire that cleaned out a lot of the dead wood. The market forest is now healthier than it was a few months ago. Expect slow, but sustained growth over the next few years.
Things seem to have bounced back rather well.
Amadeus.
From Trumps position everything is a negotiating tactic. Now China has to decide if it wants a growing economy or WW3.
That was the quickest great depression ever!
My port's up 16% today. Totally worth it. I hope some shorts went bankrupt on that one.
Maynard: "Th stock market became an untended forest under the Biden administration. There are lots of dead wood investments because there was nowhere else to put all those inflated dollars."
40% of all dollars in circulation in Jan of 2025 had been printed in just the 4 years of the biden auto-pen administration.
Which fed the markets a sugar high and delivered fake gains and massive inflation and have to be wrung out of the market.
Yesterday - OMG Trump is such an idiot - my stocks are down 20 percent
Today - Oh look, I'm such a genius - my stocks are up 20 percent
Tommorrow - Oh look, the stock market went up or down.
Saint Croix: "My port's up 16% today. Totally worth it. I hope some shorts went bankrupt on that one."
Tesla shorts aren't looking very good today.
LLR-democratical Rich and Dumb Lefty Mark, how are your Tesla shorts doing today? Margin calls hitting home yet?
While you are reporting out on your Tesla shorts performance, you both STILL owe us a Threads/BlueSky update regarding your 2023/2024 predictions of X's collapse under the weight of Threads and BlueSky "powerhouse" (LOL) performances.
As an investor, it's so annoying when you spend your time doing all this micro analysis on one company
only to have some macro event wipe out the whole market
and it's so fun when it's the flip side of that
everybody's a genius in a market like this
and the wild oscillations make the market look a lot dumber than the president
my take-away from "the pause" is that the universal 10% tariff is widely acceptable
and screwing China specifically is also widely acceptable
Trump even posted a few hours before the announcement "Now is a great time to BUY!" The balls on this guy. Hilarious.
Contrast Pelosi and the secret trading Congress mafia.
All the experts said (just the other day, BTW) Trump's tariffs would mean TEOTWAWKI. I guess we need to get better experts.
The press loves to be negative, so we have a "crash" word for when the market takes a massive hit. But we don't have a word for a one-day skyrocket.
My Carvana's up 25% today. It's probably done that before. But I do not recall an entire market zooming up in one day like this. Not in my lifetime. Maybe a record?
TeaBagHag is nose-picking and flicking boogers from the monkey bars.
With the stock market in turmoil, Trump had no choice but to pause the tariffs. Most Trump supporters have a stake in the stock market, whether through IRAs, pensions, 401Ks, college savings accounts, money market funds, and other investments. If Trump didn't change course, he would have lost his base of supporters. Yes, if we were all multi-billionaires like Trump, we wouldn't care what happened on Wall Street, but we are not.
I'm betting more "great times to buy" are coming.
He had to back down and put a hold on his nonsense as the economy was going in the shitter.DARK BRANDON left him a 43700+ market on JANUARY 20 2025 and within a couple months he fuked that up..Get back to what Joe left you and make it go up not down genius. Nobody gives a fuk about tariffs only their cost of breakfast and 401K;s. It was at 45000 cruising on Brandons hand over and he fuked that up..Cmon man get it together.
Amadeus:
This guy did. https://www.tabletmag.com/sections/news/articles/what-you-need-to-know-about-trumps-tariffs
Please read this history lesson in total.
Here's a nip:
"In the early 80s I was a college intern at the Daily Calumet, “America’s oldest community newspaper” on the Southeast Side of Chicago. In two weeks as intern there, editor Bob Bong made me the newspaper’s steel writer and political writer. I stopped trying to finish my college degree. I had a job and I wasn’t interested in the sheepskin. Plus there was work to do.
U.S. Steel’s South Works was laying off 45,000 men. Then Republic Steel a few miles away laid off 18,000. Wisconsin Steel laid off everyone. The hollowing out of Chicago manufacturing had begun.
The elites weren’t panicking then. They weren’t panicans. They would lose nothing. They had their suits and cigars. The people of the neighborhoods, the workers, were panicking. But they weren’t given a big media/political voice, because they weren’t in on the grift. Republican swamp creatures like U.S. Sen. Mitch McConnell. Old Mitch married into the Chao family and they made fortunes."
I do not recall an entire market zooming up in one day like this. Not in my lifetime. Maybe a record?
It's the third biggest gain for the S&P 500 since World War 2. Top two were in 2008.
It's the #2 gain for the Nasdaq all-time. Biggest gain was in Jan 2001.
It's #6 for the Dow. That's our oldest market "index," but also the lousiest, since it's just 30 stocks, all of them mega-caps and large caps.
Also, for the record, if you don't want to research and buy individual stocks (it's a lot of fun, you should try it!)
my advice would be to buy a Nasdaq index fund
my advice would be to buy a Nasdaq index fund
Filed under Things I Should Have Said Yesterday
The fact that the market gains back some of its losses when tariffs are paused is not an argument that imposing tariffs in the first place is a good thing.
Dinky--Biden left Trump with an economy awash in funds borrowed from the future. Our nation was and is subject to a two trillion dollar annual federal deficit funded by those borrowings. The on-the-books national debt soared to $36 trillion under Biden. Off-the-books and unfunded Social Security and Medicare obligations are huge. It is going to take a while to get things on a sound basis (if it can be done at all). The stock market has been grossly overvalued with all that high-test borrowed money sloshing around. We are in for a wild ride, and it is not over yet.
Running around with your hair on fire after Trump says something (anything) isn't much of an argument, either.
Yet here we are.
More from my link:
"According to a 2019 New York Times story:
“The family of Elaine Chao, the transportation secretary and wife of Mitch McConnell, the Senate majority leader, has high-level political connections not only in the United States but also in China. That gives the family unusual status in the world’s two largest economies.
“Through interviews, industry filings and government documents from both countries, The New York Times found that the Chaos, and by extension Mr. McConnell, prospered as the family’s shipping company developed deeper business ties in China. Along the way, one of the company’s boosters was Ms. Chao, who now oversees efforts to promote America’s own maritime industry, which is in steep decline as China’s shipping sector rises in global dominance.”
And the elites—Republicans then mostly, but many Democrats too– kept telling us that globalization was a good thing. We’d be able to buy cheap stuff from China. All the cheap stuff we wanted. American manufacturing were sold out, but Walmart made money selling the Chinese junk.
But in South Chicago and other such neighborhoods, they weren’t happy. They’d been knocked to the ground, teeth knocked out, proud men forced to beg as their wives and children watched. They didn’t have stock portfolios. They were working men.
And the Wall Street guys who just ripped on Trump because they lost a few million in the markets the other day?"
"They’re the soft-palmed sleazebags who stepped over those mill workers years ago, beginning in the 1980s, as good paying jobs were shipped out to China. The blue collar union workers? They believed Democrats once. But they turned out to be generational road kill for the global elite."
More:
"More than 90,000 factories were shut down and wiped out in America. Whole towns were wiped out. The best jobs were what factory workers considered part time work, making not enough to raise a family.
And to top it off, the Democrats opened the borders looking for cheap votes, and tens of millions of illegals streamed in. The illegals competing with Americans for scraps, and if Americans objected what did the Democrats call them? They called them racists.
In those ruined towns and neighborhoods, the workers–blacks whites and Latinos–the bad public schools were crap and getting crappier. There were no solid factory jobs since our coastal elites and political establishment shipped those jobs to China and Malaysia, Vietnam and Mexico.
But China and Mexico did give us something in return: They gave us Fentanyl."
"More than 100,000 young Americans die each year from fentanyl overdose. China knows this. And the Mexican narco gangs know it. Democrats knew it. The Biden White House knew it. But they they were being protected by the dying legacy corporate media. And now? All we hear is screeching panic from Wall Street."
me: The democratic party sewer and its whore media can go f itself.
More...
"Democrats and Wall Street have been making fools out of the American working classes for years. The presidential candidate of Wall Street was Kamala, and she pushed wealth taxes and open borders, more DEI, defunding police, trans athletes in women’s sports, and they want nothing to do with cleaning up Democrat waste in the federal government, or cleaning up any fraud and structural abuse hidden in the federal budget.
Now they’re screaming in panic, as if they’d just had their legs blown off on Omaha Beach. It’s so insulting. They deserve to be publicly shamed as they float above us, the Masters of the Universe, the hedge fund guys simpering their way through life. They’re the ones who fully backed the stupid wars in Afghanistan, Iraq, Ukraine and elsewhere. A white college male had a better shot winning the lottery than an internship at JP Morgan in 2024, per its specific DEI policy–regardless of how accomplished he might be.
After the factories and mills were closed, after the bi-costal elites told the workers to “learn to code,” Americans were robbed of their sense of purpose and connection to their community. "
more... and more..
"The same thing happened in South Chicago also happened in Youngstown Ohio and Corning New York, and Bethlehem Pennsylvania, everywhere that men lined up to work an honest shift with their legs and their hands. The white working class, the black working class, the Latinos. And I saw them all together, suffering in South Chicago. The working men and women were screwed. They were heartbroken. Their jobs were taken away and shipped out to satisfy the greed of the Wall Street Masters of the Universe.
The bi-costal elites, whose hands were soft and smooth and uncalloused began to favor casual clothes of the farmer and stock worker and cowboy. They wore heavy boots as if they needed them.
But the American middle class didn’t have time to spend on costumes and fantasy in the hopes of being considered men. They worked multiple part-time jobs, living paycheck to paycheck, with little hope of raising a family and connecting to a community. When their shifts were over they delivered meals to the elites from Uber Eats."
"This it's a great time to buy."
Inside trading for the people. A Dem President would only tell his friends. It outside trading. Ban it.
boatbuilder at 4:14--That Tablet article is really interesting. Thanks!
Begley: Trump is Michael Corleone. Xi is Mo Green. We know how that ended.
Drago: And LLR-democratical Rich is the hooker that gets gunned down in bed with Tattaglia.
LOL!
Peachy, John Kass is da man! He reports on Chicago crime and politics (but I repeat myself). Has a great podcast too. Thanks for posting him.
JSM
So The Don goes out and starts a world-wide tariff war and it is the press that somehow caused it by not understanding "The Art of the Deal." Obviously, Wall Street's reaction was ill conceived as well, but Trump had nothing to do with the largest market dive in the past century. And Treasury Secretary Bessent thinks that the president is such a nice guy for lowering the high tariffs to just 10 percent temporarily for those countries willing to beg. Yeah, such a nice guy for negotiating deals with North American neighbors during his first term and then going to war now. And lest we forget, the high rates in place for the U.S. and China will cost the U.S. population jobs and sky high prices.
By the way, and just to be clear, Trump paused the reciprocal tariffs, not the 10% across-the-board ones (and the countries that had reciprocal tariffs will now have the 10% universal tariff applied). The reciprocal tariffs, which ranged anywhere from , applied to 56 countries and two or three oddball islands (Falklands, Reunion Island, St, Pierre). This makes up less than 29% of all countries (there are 195 countries in the world) - the rest are not affected by this, other than China, on whom Trump raised the tariff to 125%.
The NYT tried to spin the pause as a capitulation and not part of Trump’s strategy, with no evidence.
#FIFY, NYT
Gadfly, Trump sent out a threat, and 70 countries came hustling to the US to "please cut a deal."
Now, you can try to claim that's "Trump's failure", but only because everyone knows you're a lying sack of shit left wing dirtbag who would insist that the sun rises in the West if Trump said it rose in the East.
Reality check: Trump is at economic war with China, on the grounds that that is cheaper than a shooting war. His long term goal appears to be the destruction of China's export driven economy.
I say "appears to be" because he's a NY Real Estate developer. He's not going to tell you what his actual negotiating position is, what he wants, or what he's willing to do to get it, because doing that would give his opponents any advantage.
But you keep on f'ing that chicken, gadfly
Market swings are not for the faint hearted today.
This is all part of the cunning plan — stable genius at work.
People on the left are dumb enough to believe in master plans and planned economies. That's why you're dumb, okay?
There are too many variables to plan an economy. You can't do it, and it's a horrible idea to try. All Trump can do --- all any president can do -- is plan on what he's going to do, and (maybe) plan on what we're going to do. What you can't do is plan on how other people respond. Too many variables.
Trump (obviously) planned to raise tariffs. He campaigned on it. He won on it. That's raising taxes without using the word "taxes." Switching words around is Propaganda 101.
Anyway, Trump's got a plan, it involves using tariffs to increase revenues and protect American industry, while simultaneously cutting income taxes and waste and fraud in the government. It's an audacious plan and I'm really impressed with the man. He's not just a talker, if you know what I mean. I'm ranking him in the top 10 of American presidents, all time. Assuming he can pull it off, of course.
Amadeus--I read that this morning. Everything that happened this afternoon makes a lot more sense.
I am optimistic but not particularly hopeful that the Euros (unlike some of our lefty commenters) will get the message that this really isn't about Europe, and the 90-day pause is not some sort of European victory over Trump.
I'm not hopeful, because I don't think the Euros understand that they are bit players.
It's hilarious to be called stupid by those who supported the so-called Biden administration, and the Harris-Walz campaign.
This is typical Trump and typical New York Times. Trump always starts negotiations with harsh demands and softens the demands as negotiations continue. Reportedly, 50 or more countries have made overtures to the administration. The bargaining will now begin.
The Times portrays this as “backing down” presumably as a result of criticism from the media or other stimuli. Never mind that this incorrect notion heartens the country’s adversaries. It’s TRUMP! (And countries that have been gouging us with tariffs for years ARE our adversaries.) The Times is a seditious rag - as are they all.
My son is a financial advisor with $30 million under his management. He was 30% in cash for the past month or so and pushed it all-in yesterday. He is coming over tonight for a couple of well-earned drinks. I don't think he will have too many bigger days in his career.
Still some rough sledding ahead. I must remind him to be humble and realize that he had a lucky break that might go the other way next time and ought not to get into a casino mentality.
Remember when Gadfly used to use a sockpuppet he called 'A Reasonable Man'? Same shit with a different label.
I'm ranking him in the top 10 of American presidents, all time. Assuming he can pull it off, of course.
He's already Top 10, and the best (by a whisker over Reagan) in my lifetime. If he pulls it off like I think he will, he's bound for Mt. Rushmore.
TBH: “I need more kool-aid to see how it really is, I guess.” No. You just need to know your enemy so you don’t play the fool. TDS eats brain cells. Reportedly, 50 countries have asked to come to the negotiating table. There is no surrender here, just the beginning of negotiations.
John Mosby - You are welcome.
He's great.
My god. Look at Gadfly at 5:07 diving full speed “through the looking glass.” Tweedledum looking for Tweedledee while fearing the Trumpcrow. All delusion stemming from the TDS affliction.
TDS is not an easy condition to live with. It's an obsession with one's own senseless, futile, impotent hatred. It's a cruel, psychologically disfiguring leprosy of the soul. I read about a patient in a mental hospital once who, if not prevented by an ever-watchful staff, would compulsively slam his dick in a door over and over again. The shrinks say TDS is pathologically very similar.
Poker game is a bad analogy for the world economy. And the stock market is a bad analogy for our stack of chips. But I'm going to make the analogy anyway.
On Thursday, Trump lost a lot of chips. On Friday, Trump lost a lot more chips. Two bad poker hands in a row. On Monday, small win. On Tuesday, very small win. And on Wednesday, huge win, his stack is almost as high as it was.
Also at the poker table is China, Japan, the EU and the UK. If you had to pick a loser at the poker table, that would be China. The bluff's been called. The cheater has been revealed. And the dictator does not have popular support.
(Poker is a bad analogy for the world economy, because the world economy doesn't have to be a zero-sum game. But when you have a cheater at the table, that's when the world economy really does seem like a zero-sum game. "You're stealing from us!")
Maynard said: “Trump is Michael Corleone. Xi is Mo Green.”
And the NYT and consorts are Fredo.
You just need to know your enemy so you don’t play the fool.
She's not playing.
I guess he did this to smoke out China. 70 plus countries said, "Lets talk," tacitly admitting Trump's claims that they know they had been screwing the USA for years by their high tariffs and generally restricting American products. Only China reacted with DEFIANCE, thereby acknowledging that they have been screwing us for years and intended to keep doing it. Trump has all the cards. China needs us more than we need them. So now Trump has isolated China.
Doltish Dink said:
"Nobody gives a fuk about tariffs only their cost of breakfast and 401K;s."
**************
Yeah, that's why the UAW workers cheered Trump when he said he would lower tariffs on steel, autos and the other stuff that used to be made in the USA--by those self-same workers.
Ditto the timber industry workers, who saw their jobs end over "saving" spotted owls, while Canada felled forests filled with those owls and shipped the timber back to us.
Or the dairy farmers in California, Wisconsin, Michigan and Idaho, whose products were hit with huge tariffs of 200% or more in Canada.
SNORT
NYT says Trump's move is "capitulation." To whom?
Certainly not China!
I suppose you could argue that Trump is capitulating to the rest of the world, all the countries who are willing to negotiate all the various tariffs already in place. But as they're writing in Singapore...
The aim is to isolate China and rewrite the rules of global trade.
Excellent article in Tablet mag, kudos to boatbuilder at 4:14. I got to go to Tablet more often, I'm constantly impressed by the stuff on their site.
Last time Trump was in office he tried raising tariffs on China. China just kept raising their own tariffs on US goods in response. They got around Trump's tariffs last time by selling goods to other countries like Mexico who then sold them into the US without a tariff. So this time Trump levied tariffs across the board. This created leverage for future negotiations. Now they all have to deal with the US and participate in talks about creating a new economic order and have a say about what their place in it will be. They all naturally want some advantages and some favorable terms. They won't get those things if they try to stymie Trump's vision. That's where we're at in a process that probably has a long way to go and may or may not work.
Another great article in Tablet...
Why Tariffs Are Good.
And he quotes Adam Smith!
1. Set the cat among the pigeons with totally unreasonable actions and demands.
2. When everyone freaks out, settle for what you really wanted in the first place.
3. Leave your greatest global rival on the outside looking in.
Art of the Deal, folks. Could work.
Several commenters have said that China needs us more than we need them. Generally I agree. But I wonder about pharmaceuticals. Not fentanyl, but everyday prescription meds. I have read that we have outsourced a lot of that to China and I have no doubt that they would use that as a weapon against us. Can anyone speak knowledgeably about our dependence on them?
Michael, we only bet our future on 'could work'.
All because a bunch of Trump sycophants are griping like Greta Thunberg about existential threats.
Dumb Lefty Mark: Michael, we only bet our future on 'could work'."
Sez you, idiot boy.
Tell us again how X (xAI) and SpaceX and Tesla are doomed. It is always so much fun reading your nonsensical blatherings.
"and screwing China specifically is also widely acceptable"
China's problem is the rest of the world will enjoy getting on this bandwagon.
Can anyone speak knowledgeably about our dependence on (China)?
Mongo, click on the Tablet links, 7:05 and 7:15. Really strong analysis there.
lonejustice said..."With the stock market in turmoil, Trump had no choice but to pause the tariffs."
It's been four days! You should stay away from stocks. You don't have the stomach for it.
In Trump's own words ⬇️
"The United States has a chance to do something that should have been done DECADES AGO. Don’t be Weak! Don’t be Stupid! Don’t be a PANICAN (A new party based on Weak and Stupid people!). Be Strong, Courageous, and Patient, and GREATNESS will be the result!"
"ONLY THE WEAK WILL FAIL!"
"TO THE MANY INVESTORS COMING INTO THE UNITED STATES AND INVESTING MASSIVE AMOUNTS OF MONEY, MY POLICIES WILL NEVER CHANGE. THIS IS A GREAT TIME TO GET RICH, RICHER THAN EVER BEFORE!!!"
"Big business is not worried about the Tariffs, because they know they are here to stay, but they are focused on the BIG, BEAUTIFUL DEAL, which will SUPERCHARGE our Economy. Very important. Going on right now!!!"
Looks like the bond market’s still flexing its muscle, just like it did back in Bill Clinton’s day. In his memoir, he wrote about how those bond traders forced his hand--ditching a big stimulus for deficit cuts to keep interest rates in check. Seems Trump’s finding out the hard way too: you can be the big man in the White House, but the bond market doesn’t care who’s puckering up when it’s time to call the shots.
When I came to the Philippines in 2022 I predicted that rice prices be increasing dramatically here. I was laughed at. Then rice went up by over 30%. When Trump was elected, I predicted gas prices and rice would go down. Rice is down about 17% and gas prices are dropping fast.
The Philippine people were being destroyed by Biden's polices but Trumps policies are already helping people here so much.
Putting so much pressure on China is also helpful. Almost everyday the Philippines suffers attacks from the Chinese navy. They are responsible for drugs here and much of the crime. They are not even communists, but actual National Socialists in process of genocide. They would kill and supplant every human on the planet with Han Chinese.
Drago gets ALL of this. He understands that environmentalism is propaganda paid for by the Russians and the Chinese. He knows China uses more coal THAN EVERY OTHER COUNTRY COMBINED.
But he doesn't waste his time on arguments with trolls. He just trolls them back.
Remember what Robert Cook said when Biden was president? His finances were doing just fine. To my liberal friends here, if you care about the lower classes, why do all your polices drive up food prices and make food more scarce while inflating your own assets?
What is the price of gas and eggs in the USA right now?
"But I wonder about pharmaceuticals. Not fentanyl, but everyday prescription meds. I have read that we have outsourced a lot of that to China and I have no doubt that they would use that as a weapon against us."
Big, important example of why things need to change.
Yesterday the Althouse/MAGA commentariat said the global tariffs were the greatest economic strategy ever. Now reversing them is. 🤣
"Yesterday the Althouse/MAGA commentariat said the global tariffs were the greatest economic strategy ever. Now reversing them is. "
That's a dishonest take, even for you.
LLR-democratical Rich; "Looks like the bond market’s still flexing its muscle, just like it did back in Bill Clinton’s day."
LOL
Another sad lie. Wr'll just toss this latest one onto the Rich Lie bonfire with all the other ones!
So toasty!
Go ahead Rich and regale us with the laundry list of countries that sought meetings with the Clinton gang to rework trade deals to US advantage to limit the impact of aggressive America First trade terms.
Too funny.
"That's a dishonest take, even for you."
Never underestimate a leftist's capacity for duplicity.
Looking forward to hearing from all the people who, just yesterday, were declaring the sky-high tariffs to be big brain 4D chess and we all just needed to trust the process, how rolling back those exact same tariffs -- while getting zero concessions in return -- is a big brain genius move and the perfect thing to do.
LLR-democratical Rich"Yesterday the Althouse/MAGA commentariat said the global tariffs were the greatest economic strategy ever. Now reversing them is. "
Original Mike: "That's a dishonest take, even for you."
Nope. The serial over the top lies are literally every single posting from LLR-democratical Rich now. Without exception. And he doesn't seem to care in the least that his lies are transparent. Its become a pure volume business for him, hence the quite appropriate descriptor of "Harry Sisson of Althouse Blog" for him.
And to think that just like LLR-democraticals Chuck and lonejustice and, astonishingly, gadfly, all 4 of these losers pitched themselves originally as "lifelong republicans" and "principled conservatives"!
For someone who was "in the room", he has an amazingly short time horizon. Like 24-hours short.
He really is ignoring that tariffs with China have increased, and the president is only dropping/pausing the tariff regime with countries that agreed to do the same. I think we have also not paused tariffs on the EU. What I understand is that tariffs have only been paused with countries that have agreed to establish new trading arrangements.
ALL of that undercuts everything Chuck-puppet is saying. I'm sorry for the name calling, but he is just propagandizing now and not engaging with reality.
I'm not sure it's possible to miss the point of what happened today more completely than Drago's comment does.
From WH Resolute Desk
I make a stupid decision
Something really bad happens
I convince my followers the
problem is magically solved
I reverse my stupid decision
Everyone knows Trump was only using Tariffs as a negotiating tactic. We'll see how things turn out. This wasn't planned, but was the play that presented itself after the massive perturbation.
Abacus Boy LLR-democratical Rich: "I'm not sure it's possible to miss the point of what happened today more completely than Drago's comment does."
Its not working Richie. Its far too late for you and your schtick.
Far too late indeed. When all the trade deals are completed and your ChiCom allies are even more isolated and the full reversal of the post-1971 Bretton Woods trade arrangement debris and WTO mistakes are cleared away, I suspect we'll be seeing another of your mass post deletions and another name change.
Though that wont really work for you either, will it?
Trump even posted a few hours before the announcement "Now is a great time to BUY!"
If only he could have told everyone to SELL last Wednesday morning.
Thank God a woman isn't at the helm. Can you imagine? So unstable, flighty, indecisive, emotion driven, petty, vindictive, focused on appearances, incoherent, irrational, needy attention seeking drama queens.
- A commenter at National Review
Dave: "[the CCP] would kill and supplant every human on the planet with Han Chinese."
This. Trump really should start moving the Overton window so this kind of characterization of the CCP starts becoming common in the international discourse.
JSM
The US President speaks:
“I thought that people were jumping a little bit out of line," Trump said at an event outside the White House. "They were getting yippy. They were getting a little bit yippy. They were getting a little bit afraid.”
Followed by: "The bond market is very tricky, I was watching it."
The word “yippy” means “politically active group of hippies”.
This nincompoop is the world’s biggest mǒrǒn and we are all his hostages.
The trade disputes are small potatoes compared to the fact China unleashed COVID19. Why isn't the world up in arms about this? Why isn't China being held responsible? Why aren't they being shunned and isolated? Heck, they're not even being asked to ADMIT it.
Don't trust China! China is asshole!
Instead, we have the TDS crowd addicted to hating Trump, vacillating between arguing he's an incompetent moron or an evil genius dictator hell bent on destroying "democracy". Idiots.
Of course to make deals with 90 countries, even if one a day, would take at least NINETY DAYS... just like the pause!!! Makes one wonder if that is what Trump is doing (and screwing China to boot.)
@ Kakistocracy
Speaking of nincompoop and moron....you might want to educate yourself. You sound like a moron.
The terms...."the yips"...and "getting yippy" have been around for decades. They are generally applied to sports...where a person gets twitchy, nervous, spasmodic, makes bad moves and is unable to compete in their sport.
HOWEVER, the yips can also be ascribed to business deals where the person begins to doubt their own abilities and starts making bad moves.
The yips can be physical, like actual nerve damage or more often psychological cause by stress or suggestion by others.
Trump is gloriously illustrating the THE ART OF THE DEAL and the dummies like Kakistocracy don't get it because they have no idea how to play.
Give it up, Kak. Your so far out of your league you're not even in the ball park anymore.
KAKI said Yesterday the Althouse/MAGA commentariat said the global tariffs were the greatest economic strategy ever. Now reversing them is.
You really really don't get it. It is all strategy, not just the tariffs. It is the long game.
Like selling a used car........first....You have an idea of what you want.
1. Propose something outrageous, much more than you want.
2. Argue back and forth and receive outrageous counter offers from your target buyer. Pretend that you might not make the deal at all.
3. Look like you are giving in and ask for slightly less than your original proposal
4. Sell the car at a bit less that the outrageous amount but more than what you really want.
5. You are happy. The buyer is happy because they think they won and made you backdown.
I really want to sell you a used car. I have a Customized 1969 GMC Flat Bed with a 454 motor, pristine original interiour plus plus. I'm asking $45K firm (I really want $30). You knock me down to $40....I reluctantly sell it to you. 🤣
Also I need to proofread before posting
"Dust Bunny Queen said...
The terms...."the yips"...and "getting yippy" have been around for decades. They are generally applied to sports...where a person gets twitchy, nervous, spasmodic, makes bad moves and is unable to compete in their sport."
Correct, but it's really more of a golf term, generally applied to putting*. And of course Trump's a golfer.
* In my case my putting was great, but I could no longer hit short chips. So frustrating!
“Trump economic advisor Kevin Hassett says bond market added ‘more urgency’ to tariff decision:” ~ CNBC
Gee, bonds still going down, 1% more today.
Who knew?
Gee, bonds still going down, 1% more today.
@ jim: do you mean on existing bonds? or new issue bonds? Bond prices? or Bond yields? Bonds move in opposite ways and react to current interest rates.
If the interest rates (outside of the bond) go up..the value/price to sell of the bond might go down depending on the relative difference between the coupon rate and the current interest rate. You hold a 10K bond with a coupon rate of 3.5% and interest rates go up to 4.5% on new bonds. Now your 3.5% bond declines in value because who wants to hold long term a lower rate than you can buy currently.
Then....the maturity date of the bond also affects the price. a 10K bond at a discount with a maturity date in the near future can be a good purchase.
To further confuse you...check out the calculations for "yield to maturity" and what that means for market value.
It isn't as simple as you want to think.
Bonds hit 4.5 GAME OVER TRUMP he backs down and runs away. We know who the real boss is. This guy cant even hold the great 43000 plus number dark Brandon gave him. He is fukking it all up just like his 6 bankruptcies. Karoline trump is solid on his tariffs never change.....next day trump is halting his tariffs AND WHO MADE BILLIONS IN THE DROP THEN POP SCAM? Wake up trumpers this guy is steaing your soybeans!
If only he could have told everyone to SELL last Wednesday morning.
If he had, he would then have been accused of causing and precipitating the crash(es). In the present case, Trump can only be charged with causing the anti-crash—the huge market rise. He can take that.
Trump said he'd level the playing field. He said tariffs for anyone with artificial trade imbalances with us. He said those that come to the table would be treated nicer than those that do not. He said anyone wanting a tariff fight will get treated much less well.
Sounds like what he's said is what he's done.
China has been separated by the herd.
3 hours later, down 2%
To dust bunny queen: I'm refering to 20 year US bonds. I trade in bonds for fun. Just from a trading point of view, this could be lots of fun. This may be China using their portfolio tactically, or it might be the world saying they don't trust the US with their money (no fun that.)
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