Idiots. Trump is been an economically illiterate protectionist his entire life. fortune.com/2024/11/17/t... - ThreadSky

radleybalko.bsky.social • 112 days ago

Idiots. Trump is been an economically illiterate protectionist his entire life.

https://fortune.com/2024/11/17/trump-tariffs-treasury-secretary-scott-bessent-howard-lutnick-elon-musk/

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jschardin.bsky.social•112 days ago

These people are baffling to me. He did move forward with major tariffs in his first term! Plus he still (intentionally) has no idea how they work!

caitesq.bsky.social•112 days ago

I do not understand his supporters’ maniacal refusal to believe anything he says

trixienorton.bsky.social•112 days ago

They voted for him because they believed he wouldn't want to do what he said over and over again he really, really wanted to do. And then they made sure he had no guardrails.
Well, at least they're stupider than I am. I guess that's a silver lining?

prchovanec.bsky.social•112 days ago

It’s amazing how smart people can be so dumb.

markhasty.bsky.social•112 days ago

It's also amazing how dumb people can control our entire economy.

uscivilwar.bsky.social•112 days ago

One political advantage Donald Trump has is that, for unclear psychological reasons, people often project their fears or desires onto him.

This is not unique: Obama deliberately cultivated that. It's just weird in Trump's case because people impute meaning directly against his words.

weirwoodtreehug.bsky.social•112 days ago

That reads less like an attempt to inform readers about what Wall Street thinks and more like a plea to incoming administration to not mess with big business's money.
Trump's cabinet picks so far are the confirmation we need that he won't be moderate and stable.

clevernickname23.bsky.social•112 days ago

Last time around, other countries' counter-tariffs were specifically aimed at particular industries or politicians. Given that a lot of Americans seem to have voted enthusiastically for the tariff policy, I expect other countries to be less discriminate in their counter-tariffs this time.

dustinn.bsky.social•112 days ago

Last time Trump also just appropriated the tariff funds to pay off farmers. Presumably he will attempt to do similar things this time around, and pay off the favored groups he hurts while the rest of us suffer.

crobruncato.bsky.social•112 days ago

I wonder if they can use tariffs to push us in a green energy direction?

clevernickname23.bsky.social•112 days ago

China pretty much owns the solar panel market now. Those, and other green tech not produced in the USA will likely be under crushing tariffs.

crobruncato.bsky.social•112 days ago

Yeah... Well, the other option to make us put out less CO2 is to crush our economy.

carlnyberg312.bsky.social•112 days ago

Right Wing economics became give money to the rich while putting the 99% in debt.

The economics mindset has become disconnected from producing goods & services (for the 99%).

fsherman.bsky.social•112 days ago

Another case of supporters replacing Trump with head-canon Trump

urgent-penguin.bsky.social•112 days ago

He wants tariffs because he has power over them.

welshrarebit.bsky.social•112 days ago

What Trump has in mind isn’t really tariffs. He wants to impose a fee on foreign companies for access to the US market. If this came about, I imagine that a large slice of the proceeds would go to the Trump Organization.

fsherman.bsky.social•112 days ago

And the Supreme Court would undoubtedly bring up the Official Acts exemption they made up

ncsteve.bsky.social•112 days ago

"Let's take fascists 'seriously but not literally.' What could go wrong?"

crobruncato.bsky.social•112 days ago

I joyfully look forward to the find out part of this.

tristanpalmgren.bsky.social•112 days ago

I wonder when they'll ask for tariff-relief bailouts.

hal10000.bsky.social•112 days ago

Eight years. Eight years this guy has been a boil on our ass and people still think he doesn't mean what he says.

kevinrsours.bsky.social•112 days ago

What he understands is that tariffs are going to give him a great deal of personal control of the economy and he likes control and doesn't give a shit about the country.

Corporations are going to have to kiss is ass to get exemptions from tariffs and he'll leverage that to the fullest extent.

abbykoch.bsky.social•112 days ago

This 💯 no better way to keep the captains of industry under his thumb

grungehamster.bsky.social•112 days ago

Hate to agree with a member of the Austrian School, but his entire economic worldview is rent-seeking disguised as a coherent theory.

brada.bsky.social•112 days ago

He was (probably accidentally) right about TPP being a bad deal, and withdrawing the US from negotiations resulted in the bad parts being removed. The problem is that neither Trump nor Biden wanted to take the now very good deal.

thatac.bsky.social•112 days ago

Count Bankruptula TOTALLY is playing 4D chess & not just going to do what ever fool thing pops in his brain!!
I mean its not like he told people they could use bleach to rid themselves of covid... oh... oh fsssssssssssssssck!

gridflay.bsky.social•112 days ago

"Cooler heads will prevail" is a hell of a bet to place...

crobruncato.bsky.social•112 days ago

Can you short Trump being sane?

gridflay.bsky.social•112 days ago

I'm sure Blackrock has something lined up

richschu.bsky.social•112 days ago

Get out of stocks, basically?

outerleftfield.net•112 days ago

I was incredibly naive in my wishcasting for a stronger Democratic showing, but it pales in comparison to what these theoretically smarter people are telling themselves with regards to Trump. Trump is an entirely different person in their mind than all of his actions to date.

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