GDP shrinks in first quarter, Trump blames Biden

Aryeh Jay · Sunday at 3:02 PM

Bradskii said:
Ah, yes. I'd forgotten about that. A sensible move if I might say. We got rid of ours very many years ago. But you still see prices of $1.99 - which are impossible to pay. Sounds cheaper than $2 I guess.

Got rid of the penny eh?

Trogdor the Burninator · Sunday at 6:13 PM

o_mlly said:
If we do not buy the now more expensive imported-tariffed goods then we do not pay for the tariff. The "cost" of the tariffed merchandise falls on the exporter in the form of lost jobs and the "benefit" to us in more manufacturing jobs. It's called the substitution effect.

That's a very simplistic view of how tariffs work, especially those set at absurdly high levels like the Trump tariffs.

You need to consider the impact of (i) higher prices on consumers causing a reduction in spending power, reducing consumption of other US-made goods, and (ii) the impact of tariffs on input materials to goods manufactured in the US and re-exported elsewhere.

o_mlly · Sunday at 8:47 PM

Trogdor the Burninator said:
That's a very simplistic view of how tariffs work, especially those set at absurdly high levels like the Trump tariffs.

You need to consider the impact of (i) higher prices on consumers causing a reduction in spending power, reducing consumption of other US-made goods, and (ii) the impact of tariffs on input materials to goods manufactured in the US and re-exported elsewhere.

No, rather it is an informed view.

Higher prices on goods that no one buys is, well, irrelevant. Consumption of US made goods increases if the price of imported similar goods increases, cp. Tariffs on input materials that can be sourced in the US will increase the quantity demanded for US input materials.

Hans Blaster · 2025-05-06T00:45:47-0500

Aryeh Jay said:
Got rid of the penny eh?

View attachment 364529

I must say I do not understand the Australian language: "Georgivs vidg bromn rex fi dei def"

Bradskii · 2025-05-06T04:47:48-0500

Hans Blaster said:
I must say I do not understand the Australian language: "Georgivs vidg bromn rex fi dei def"

I got some of it. But I had to cheat and look it up, from here: https://onlinecoin.club/Info/Legends/d690bb94-b8df-11e5-ae78-00163e09c6a7/

It's this:

GEORGIVS VI D : G : BR : OMN : REX F : D : IND : IMP.

Which is an abbreviation of this:

GEORGIVS VI DEI GRATIA BRITANNIARUM OMNIUM REX FIDEI DEFENSOR INDIAE IMPERATOR

Which means this:

George the Sixth, by the Grace of God, King of all the Britains, Defender of the Faith, Emperor of India.

Charles will be on all new coins. But we've got rid of royalty from all our notes.

Nithavela · 2025-05-06T05:30:25-0500

Perhaps Trump should reinstate Biden so the Trump market can kick back into gear.

Laodicean60 · 2025-05-06T06:09:42-0500

Nithavela said:
Perhaps Trump should reinstate Biden so the Trump market can kick back into gear.

The market has gained its losses back, but your media is hiding it from you.

Bradskii · 2025-05-06T06:34:21-0500

Laodicean60 said:
The market has gained its losses back, but your media is hiding it from you.

No, it's not.

ASX 200: Australian stock market bounces back despite tariff threats after worst session in five years

Benchmark S&P/ASX 200 closes up more than 2%, representing its biggest one-day gain in more than two years

www.theguardian.com

Wall Street stocks bounce back from Trump tariff losses

Investors were buoyed by a better-than-expected jobs report and rising hope of US-China trade talks.

www.bbc.com

https://edition.cnn.com/2025/04/08/investing/us-stock-market-dow-tariffs

Sentiment has likely ‘washed out’ as markets bounce back: CIO

One chief investment officer says he thinks equity markets are showing some signs that a bottom has been reached following Monday’s volatile trading day.

www.bnnbloomberg.ca

These are just a few of the the very many articles that tell you exactly what has happened. I mean, good grief, any tv news outlet will have a business section that will tell you exactly the same thing. It's because the markets dropped so precipitously that Trump lost his nerve and put all his idiotic acts tarrifs on hold.

What a waste of time, money and, much more importantly, good will. Markets are now realigning to avoid relying on sales to the US.

Laodicean60 · 2025-05-06T06:50:38-0500

Bradskii said:
No, it's not.

It's easy to look up once you're aware of it lol. I'd believe you knew this if you had posted the article on Apr 8.

Bradskii · 2025-05-06T07:46:01-0500

Laodicean60 said:
It's easy to look up once you're aware of it lol. I'd believe you knew this if you had posted the article on Apr 8.

How can you avoid it? Business news is in every newspaper, hard copy or online. It's on every tv new broadcast. Every single outlet, whether you think they're to the right or left, cannot avoid reporting on it. It's like the weather. You can't stop reporting what the weather is because it doesn't fit with a political position. Likewise the market. It is what it is.

You can only not be aware of a bounce back if you are purposely avoiding business news.

Nithavela · 2025-05-06T08:33:13-0500

Laodicean60 said:
The market has gained its losses back, but your media is hiding it from you.

*Checks* Nope, not hidden. Plainly visible to me.

Maybe your media is hiding things from you and you are projecting.

Laodicean60 · 2025-05-06T08:38:31-0500

Nithavela said:
Perhaps Trump should reinstate Biden so the Trump market can kick back into gear.

Nithavela said:
*Checks* Nope, not hidden. Plainly visible to me.

Maybe your media is hiding things from you and you are projecting.

Just saying. But don't worry, you'll have time to rejoice again soon.

Nithavela · 2025-05-06T08:42:05-0500

Laodicean60 said:
Just saying. But don't worry, you'll have time to rejoice again soon.

Just joking about Trump claiming the market of early 2024 for himself.

RocksInMyHead · 2025-05-06T08:47:19-0500

Laodicean60 said:
It's easy to look up once you're aware of it lol. I'd believe you knew this if you had posted the article on Apr 8.

Anyone who posted news of a bounce-back on April 8 would have had to have been prescient, considering that was the low point of the market. But even after that, there was a lot of uncertainty and we still haven't regained all of the losses:

Laodicean60 · 2025-05-06T08:54:27-0500

RocksInMyHead said:
Anyone who posted news of a bounce-back on April 8 would have had to have been prescient, considering that was the low point of the market. But even after that, there was a lot of uncertainty and we still haven't regained all of the losses:

This is why I have always said that using the market in politics is a bad idea. I said it last year, and I'm saying it this year. It's the hypocrisy that I don't like to criticize when it's down, but no kudos when it goes up, and that goes to both tribes.

Laodicean60 · 2025-05-06T08:57:32-0500

Nithavela said:
ust joking about Trump claiming the market of early 2024 for himself.

He does claim and blame a lot, and I've said it before. Throughout the years, watching the parties, they like to claim and blame the last administration a lot.

Nithavela · 2025-05-06T09:00:21-0500

Laodicean60 said:
He does claim and blame a lot, and I've said it before. Throughout the years, watching the parties, they like to claim and blame the last administration a lot.

Indeed. Sometimes that blame is even justified.

I've yet to see someone praise himself in advance, though.

Laodicean60 · 2025-05-06T09:01:25-0500

Nithavela said:
Indeed. Sometimes that blame is even justified.

I've yet to see someone praise himself in advance, though.

The tribe always feels it's justified.

RocksInMyHead · 2025-05-06T09:10:39-0500

Laodicean60 said:
This is why I have always said that using the market in politics is a bad idea. I said it last year, and I'm saying it this year. It's the hypocrisy that I don't like to criticize when it's down, but no kudos when it goes up, and that goes to both tribes.

Generally speaking, there's little that the president can do to make the stock market surge - increases are expected over time, so only a sharp increase would be notable or "kudos-worthy," and short of fixing a mistake (which also isn't worthy of praise if you're the one who made the mistake in the first place), presidential actions are unlikely to do this. At the same time, the president can cause the bottom to fall out of the market quite easily, as Trump proved. Other factors can also cause this, so not every market crash can be pinned on the president, but in some cases the link is quite obvious, and in those cases, criticism is warranted.

Laodicean60 · 2025-05-06T09:19:42-0500

RocksInMyHead said:
At the same time, the president can cause the bottom to fall out of the market quite easily, as Trump proved. Other factors can also cause this, so not every market crash can be pinned on the president, but in some cases the link is quite obvious, and in those cases, criticism is warranted.

Fiscal policies do affect the market, and the last administration was responsible for a bigger drawdown in 2022. This is why I don't use the stock market. I support tariffs, but not the way Trump is doing it, but this will be beneficial to Americans in the future, with job competition and other countries also, if they take some of China's dominance away from them.

I've said before that whether one feels it's warranted depends on what tribe they reside in.

GDP shrinks in first quarter, Trump blames Biden

Living the dream, experiencing the nightmare.

Senior Veteran

“Behold, I make all things new.”

One nation indivisible

Old age should burn and rave at close of day;

you're in charge you can do it just get louis

Well-Known Member

Old age should burn and rave at close of day;

Well-Known Member

Old age should burn and rave at close of day;

you're in charge you can do it just get louis

Well-Known Member

you're in charge you can do it just get louis

God is innocent; Noah built on a floodplain!

Well-Known Member

Well-Known Member

you're in charge you can do it just get louis

Well-Known Member

God is innocent; Noah built on a floodplain!

Well-Known Member

Similar threads