The internet is about to feel a lot slower for us as more services move offshore to flee the taxes.
So glad I built my pc last fall. Fuck all this bullshit and everyone that voted for it.
Or didnt vote against it
He certainly running the country into the ground like one of his businesses
Not just any businesses either, he bankrupted a casino… TWICE
It takes a special kind of stupid to bankrupt a fucking casino, twice
He failed to sell alcohol and beef to Americans
The only thing harder to do is to fail at selling sub-prime mortgages before the 2008 recession
which he also did
That was with very clear money laundering too.
How do you bankrupt a casino while also running a money laundering scheme and still fail? Someone should turn his life into a movie it’d be like anti breaking bad
Yeah but what’s the moral to the story? Keep failing over and over again and you’ll end up being the most powerful man in the world twice? Not a story that can be told without realising that the world is corrupt cesspool.
This is actually kind of funny. Because his first term is more or less considered successful in financial circles, (COVID aside). But the entire time he was fighting with aides, bureaucrats, etc… who kept either getting in his way or talking him out of his crazy or stupid ideas. Now he’s removed all the safeties and we’re getting full Trumpism with all the horrible financial decisions it brings.
He wasn’t successful at anything.
He slashed the corporate income tax and due to an effective amnesty on repatriation many large MNCs brought stashed offshore cash and cut R&D to register massive earnings for his last 2 years.
Ironically, this started to dry up right around Q1 2020… Then COVID drowned out everything.
His response was to just pump $4T to employers with almost no documentation, thank god we didn’t see a massive wave in inflation out of that.
Okay this post reeks of not understanding basic accounting. Bringing back cash doesn’t affect profits for firms. The earnings were already earned. Having money over seas and bringing it on shore does not increase your profits, it just frees it up for investment (or giving to shareholders).
Also cutting R&D does not change profits in the short term. Any amount of R&D doesn’t change profits in the short term (either less or more). R&D is treated as an asset and depreciates over time (which does affect profits) but that’s clearly not what you’re saying here.
The rest of your post I’m not arguing with but your understanding of accounting and how offshore money works is factually incorrect.
lets not forget browbeating the fed to drop interest rates before covid hit.
thank god we didn’t see a massive wave in inflation out of that.
Where are you that hasn’t seen massive inflation since COVID?
I think that was the joke.
Markets will still consider it a win if Trump does not else good in the next 4 years except for extend the “tax cuts and jobs” billionaire and corporate handouts. He seems to be failing at that and DOGE has only made it harder in for Congress (in a budgetary sense) for them to do it.
Markets will still consider it a win if Trump does not else good in the next 4 years except for extend the “tax cuts and jobs” billionaire and corporate handouts.
Of the Top 10 most profitable companies in the world 8 of them are American. Those 8 companies lost enough Market Capitalization in the last 24 hours to fund a mid-sized Country. “The Markets” are not fucking happy at all.
Trump is making more enemies in business than the most liberal of democrat presidents could ever do. That’s impressive.
How surprising is this really, considering we’re still paying COVID-inflated prices for most things after COVID came and went, and was gone, and is still gone, and it’s a couple years later and it’s fucking gone.
Inflation from the Fed helicoptering money around was probably the most predicted thing that’s happened in the last 50 years. It should have surprised literally no one.
It’s also no surprise that it hasn’t gone away. That’s called deflation and every central banker on the planet would rather be eviscerated with a rusty spoon than allow deflation to happen.
Except that’s not what happened, companies used the slowdowns in shipping from Covid shutdowns as an excuse to raise prices, then never lowered them. This isn’t inflation, this was intentionally planned, don’t belive me? Listen to their fucking earnings calls specifically saying it out loud.
Companies deciding to raise prices (for any reason — justified or not) is what inflation is made of.
Inflation just means “prices went up.”
Ok. The bottom line is, either it “won’t do all that much”-- meaning it won’t affect prices, it won’t affect the economy, it’ll be basically useless–or it will be disastrously expensive for ordinary people. There is no other option. The “disastrously expensive for ordinary people” is the only thing that will cause any amount of the change Trump promises: it’s the mechanism by which the plan operates.
There is no option where companies just eat the tariff costs, or countries pay them. Maybe a few scattered companies and countries do, but by and large, not a chance.
Every country in the world needs all the other countries more than all of the other countries need it. There’s just no real leverage, because we’re all interconnected; you can snip one country out, and it’ll slightly hurt everyone, but it’ll wreck the country that was snipped out.
because we’re all interconnected; you can snip one country out, and it’ll slightly hurt everyone, but it’ll wreck the country that was snipped out
Conservatives will NEVER understand this.
They may not understand it, but they’ve fucked around long enough to get to the find out part of the equation. I just wish those of us that understand this and voted against this shit wouldn’t be affected by it
Every country in the world needs all the other countries more than all of the other countries need it. There’s just no real leverage, because we’re all interconnected; you can snip one country out, and it’ll slightly hurt everyone, but it’ll *wreck* the country that was snipped out.
This is just such an absolutely perfect summary. I wish we could American politicians to speak this clearly to explain why this is such a bad idea.
It wouldn’t matter. The public doesn’t listen directly to politicians, it gets filtered through the media first, and the media picks and chooses which parts they actually report. The people who would actually hear this already know. The people who would need to hear it never will because Fox won’t show it to them.
That would require American politicians to have a spine. Those are in short supply.
Do you think he knows that he can go entire weeks without announcing a new tariff?
The evidence shows he clearly can’t.
Guys, as a European, does this only affects servers and hardware built in the US right? Isn’t most of it built in china and owned by US companies? So it’s literally only the US this will affect?
All electronics are made in Asia. So there will be no higher prices for consumers in the EU.
US consumers will get hammered with anywhere from 25% to 55% price increase in electronics.
Maybe reduced demand in USA will lower prices everywhere else…
Pretty much. Everyone else will be able to trade with the east and southeast Asian countries business as usual. Maybe even more now that the US is making themselves less price competitive. The bad thing for the EU could be the drop in sales to the US not being replaced fast enough outside of the US leading to squeezing existing customers for more cash or possibly some businesses failing
Everyone else will be able to trade
🇨🇦 Phew!
Now we’re going to have to go north for medicine and graphics cards
It’s a massive and likely short term government tax increase for all consumers is what it all is.
Extra hundreds of billions of dollars taken from us by our corrupt government. All while I’m sure trumps inner circle bought Puts in the s&p several months ago so they can make even more boatloads of money.
Part of me is wanting to put that new PC build I just started saving for on a credit card instead.
Not sure how related it is, but in Canada, I’m seeing HDD and SSD prices generally being “on sale” for the regular prices from last year (same specs and everything!)
I’m already seeing some huge increases on ic chips online here…
lol
