Trump's "magic wand" doesn't work.

[The Barbarian]

"Trump didn't lift a finger."

 

[disciple Clint]

"Trump didn't lift a finger."

Trump bashes GM for plant closures, threatens to cut all subsidies to automaker

 

[The Barbarian]

And what "subsidies" might those be? Be specific.

The only subsidies involved are those to buyers of electric cars. So it really won't harm GM, but it will harm ordinary Americans.

GM had said that Trump's trade war was going to be expensive and might cost American jobs. He didn't listen. Now that it's happening, he's throwing another tantrum.

 

[The Barbarian]

GM warned Trump that his China tariffs would hurt jobs. He now complains that it's happening.
When listing reasons behind the job cuts on Monday, GM tiptoed around trade policy and blamed a host of other factors. But the company has been much more direct in its criticism of Trump's trade war in the past.

Earlier this year, GM lowered its profit forecasts for 2018, citing higher steel and aluminum prices caused by new US tariffs. And in June, GM warned that trade tariffs could lead to job losses and lower wages, telling the Commerce Department that higher steel tariffs would affect competitiveness.

The automaker, which employs about 110,000 workers, on Monday said it planned to halt production at a plant in Ohio, a state that voted for Trump in 2016.

GM did not specifically mention tariffs, instead citing "changing market conditions and customer preferences" among the reasons.

While that may be true, "the import tariffs probably accelerated the move," said Edward Alden, senior fellow at the Council on Foreign Relations. "GM is eliminating its lower margin passenger vehicles to concentrate on higher-margin products, and the rising cost of steel probably made made those lower margin vehicles even less attractive than they already were."
https://www.sfgate.com/technology/b...hat-his-China-tariffs-would-hurt-13424463.php

It's just the start.

 

[disciple Clint]

And what "subsidies" might those be? Be specific.

The only subsidies involved are those to buyers of electric cars. So it really won't harm GM, but it will harm ordinary Americans.

GM had said that Trump's trade war was going to be expensive and might cost American jobs. He didn't listen. Now that it's happening, he's throwing another tantrum.

Trump is President of the United States NOT president of GM. He did not tell them to build cars that the public would not want to buy.

 

[Tom 1]

Trump bashes GM for plant closures, threatens to cut all subsidies to automaker

This kind of ‘doubling down on dumbness’ doesn’t do much for his credibility - Trump isn’t playing with money from his creditors anymore and you’d hope that would make him a little less reckless, but it doesn’t seem to have had that affect. He mastered the art of making other people pay for his business gaffs, but that approach doesn’t bode well for the nation he is now in charge of - slapping on tariffs without any idea of how it would all play out, just blindly expecting to get his own way when going up against much smarter competitors, is unlikely to end well. Unfortunately Trump won’t ever admit to mistakes - GM is just one scapegoat in what will be an ever increasing list.

 

[Tom 1]

Trump is President of the United States NOT president of GM. He did not tell them to build cars that the public would not want to buy.

It’s not so straightforward as that, as you should know really. Cheap gas means people buy gas guzzlers - that’s how the market has gone so GM is slowing the production of economy models. There’s nothing either complicated or unusual about it. The increase in costs due to Trump’s tariffs is one more factor affecting profit margins - GM is a business and it’s up to the president to provide an environment in which businesses thrive, which means taking a longer view rather than just pushing whatever looks good in the moment.

 

[disciple Clint]

This kind of ‘doubling down on dumbness’ doesn’t do much for his credibility - Trump isn’t playing with money from his creditors anymore and you’d hope that would make him a little less reckless, but it doesn’t seem to have had that affect. He mastered the art of making other people pay for his business gaffs, but that approach doesn’t bode well for the nation he is now in charge of - slapping on tariffs without any idea of how it would all play out, just blindly expecting to get his own way when going up against much smarter competitors, is unlikely to end well. Unfortunately Trump won’t ever admit to mistakes - GM is just one scapegoat in what will be an ever increasing list.

General Motors Says Factory Closings and Restructuring Will Cost 14,700 Jobs | Breitbart

 

[Tom 1]

General Motors Says Factory Closings and Restructuring Will Cost 14,700 Jobs | Breitbart

I'm not sure what your point is here - GM have made a business decision to cut back on the production of smaller passenger cars. The Obama administration backed the production of economy models for environmental reasons, but as long as gas is cheap people don't want little economy cars, they want big trucks. I'm a farmer, and I love gas guzzling 4x4s, so I get it. Making GM out to be the bad guy here is a bit pointless - they are beholden to their shareholders like any other company, if something isn't profitable then they aren't going to do it. Support from the govt made making smaller cars profitable, without that support it isn't profitable. The Bretibart writer doesn't think the $1bil increase in costs due to tariffs isn't a factor - bully for him, maybe it is, maybe it isn't. The kind of rhetoric coming out of the WH about GM paying back Trump's crude gestures with profit related business decisions is just plain dumb - what's the point? That's capitalism - shareholders want profits, not lessons in business ethics (and certainly not from Trump, unethical businessman par excellence). That's how it works - nothing new about that. GM can continue to produce models people don't buy and suffer in other areas, or they can make a decision based in the market. What's difficult to understand here?

 

[disciple Clint]

Unfortunately Trump won’t ever admit to mistakes - GM is just one scapegoat in what will be an ever increasing list.

I got it. Its Trump's fault in your mind.

 

[Tom 1]

I got it. Its Trump's fault in your mind.

That's not what I'm saying, more that Trump's blustering attacks on GM (and on anyone else who suggests in any direct or roundabout way that perhaps he should re-examine his own actions occasionally) are rather disingenuous. He has some internal barrier that prevents him from thinking anything through in any detail, supported by his naive belief in his own superior intellect and ability to make the right calls without the inconvenient business of taking on information. Understandable - in interviews he has described the competitive environment he and his siblings grew up in, which he seems to feel led to his brother's suicide and has made Trump into someone who appears to be unable to accept any fault or weakness, which is why he so wildly overcompensates with his self declarations of genius and his tendency to make rash decisions - on some level he knows he's way out of his depth, but he can't admit that to himself, so he continues to lash out and blame others whenever anything goes wrong. Not really someone you want to be in charge - unless you like trainwrecks and the kind of visceral satisfaction that comes from having a few handy scapegoats.

 

[disciple Clint]

That's not what I'm saying, more that Trump's blustering attacks on GM (and on anyone else who suggests in any direct or roundabout way that perhaps he should re-examine his own actions occasionally) are rather disingenuous. He has some internal barrier that prevents him from thinking anything through in any detail, supported by his naive belief in his own superior intellect and ability to make the right calls without the inconvenient business of taking on information. Understandable - in interviews he has described the competitive environment he and his siblings grew up in, which he seems to feel led to his brother's suicide and has made Trump into someone who appears to be unable to accept any fault or weakness, which is why he so wildly overcompensates with his self declarations of genius and his tendency to make rash decisions - on some level he knows he's way out of his depth, but he can't admit that to himself, so he continues to lash out and blame others whenever anything goes wrong. Not really someone you want to be in charge - unless you like trainwrecks and the kind of visceral satisfaction that comes from having a few handy scapegoats.

I didn't know you were a doctor of psychology. Trump is not required to be right all the time to substantially improve the economy over what the previous administration provided. He is doing just fine.

 

[Tom 1]

I didn't know you were a doctor of psychology. Trump is not required to be right all the time to substantially improve the economy over what the previous administration provided. He is doing just fine.

Is he? What gives you that impression? Where do you think things are headed long term?

 

[disciple Clint]

Is he? What gives you that impression? Where do you think things are headed long term?

Relax things are going to be just fine. Just sit back and let the people who were elected to do the job get things done without a bunch of hair on fire people going into a panic.

 

[Tom 1]

Relax things are going to be just fine. Just sit back and let the people who were elected to do the job get things done without a bunch of hair on fire people going into a panic.

So your answer is that you don't have an opinion? Or what?

 

[The Barbarian]

Trump is President of the United States NOT president of GM. He did not tell them to build cars that the public would not want to buy.

So now that GM is listening to the public, and focusing on building cars that they do want to buy, Trump is throwing another tantrum. You're right; he's not president of GM and GM is under no obligation whatever to support him rather than their stockholders.

Ironically, if he attempts to harm GM, he'll just cause more layoffs. He's an idiot. But then you knew that.

 

[The Barbarian]

I didn't know you were a doctor of psychology. Trump is not required to be right all the time to substantially improve the economy over what the previous administration provided.

He is doing just fine.

For his first two years, the economy continued to expand, at the same rate it had over the previous seven years. Now, things are starting to sour a bit...

 

[disciple Clint]

So now that GM is listening to the public, and focusing on building cars that they do want to buy, Trump is throwing another tantrum. You're right; he's not president of GM and GM is under no obligation whatever to support him rather than their stockholders.

Ironically, if he attempts to harm GM, he'll just cause more layoffs. He's an idiot. But then you knew that.

I know that you do like Trump and nothing he could ever do would please you

 

[disciple Clint]

For his first two years, the economy continued to expand, at the same rate it had over the previous seven years. Now, things are starting to sour a bit...

Facts It's Trump's Booming Economy, Not Obama's | Investor's Business Daily

 

[The Barbarian]

Facts It's Trump's Booming Economy, Not Obama's | Investor's Business Daily

Well, let's take a look...

Nope. Nice try, though. Let's look at unemployment...

Nope. Unemployment didn't drop as rapidly for Trump as it did under Obama. To be fair, 4% is pretty low, and getting improvement from that is pretty hard.

Giving Trump credit for the massive improvement in the Obama administration is like claiming that a rooster makes the sun come up.