Do they no longer teach comparative advantage in business school
Reposted from
Aaron Rupar
Lutnick: "Foreign goods may become a little more expensive, but domestic goods do not. So if you're looking at Poland Springs water vs Fiji Water, the Poland Springs is not gonna be more expensive. For the first time in your lives you're gonna actually think about Americans who make the products."
Comments
The idea that they’ll pass savings on to Americans is pure, self-serving, trickle-down fantasy.
I'm betting they have alarms reminding them to breathe.
Ha !!!
Utterly deluded fcukwit !!!!
Economics 101 - Charge a market price set at whatever the market will stand ....
and huge profits from Whirlpool...
https://www.econlib.org/effects-of-the-2018-tariffs-on-washing-machines/
At least GOYA is going to get a taste of what cowtowing to Trump does for their business.
But fealty to Dear Leader uber alles.
2nd, I will bet Trump is accepting bribes from both domestic and foreign entitites for carve outs right now! Viet Nam, the bribe world leader, has already stepped up. And they got rid of FARA.
https://www.ers.usda.gov/amber-waves/2021/november/u-s-fresh-vegetable-imports-from-mexico-and-canada-continue-to-surge
This entire tariff scheme is just for the rich to play the markets to get richer.
If without tariffs imported Water X is $1.00 and domestic is $1.10, and tariffs make the import cost $1.25, then the domestic water price will rise to $1.20.
Econ. 101
My US goods will naturally go up in price because the demand for my US goods will go up.
Simple!
LBJ: “If you can convince the lowest white man he's better than the best colored man, he won't notice you're picking his pocket. Hell, give him somebody to look down on, and he'll empty his pockets for you."
Should be a pre civil rights cautionary tale, but instead it’s the whole damn *playbook.*
The US must regress 40 years and try to reinvent basic tech. Good luck with that. So much winning!