China's laughable threat to dump treasuries.
The Chicken Littles that come out on any economic news crack me up.
That is laughable, because who would buy them, they are stuck with them. What is it billions of Us Treasuries, while the treasury is trying to sell how many billion of treasury notes for the upcoming 1.3 trillion VWBUS spending bill passed by congress and signed by Trump who didn't have the time to veto it.
Then you have the FED that has who knows how many billion of worthless treasuries in it's portfolio that it now thinks it can con Whom to buy the worthless debt?
Who's China gonna sell their treasuries to? Japan? Israel? Russians? maybe Iran? Indonesia? Germany? France?
Naw they are stuck with them, the only question remains whether they will just admit that they made a mistake and were conned by a bunch of central planners and cut their losses and use it for toilet paper. OR do they think they can double down and support the paper tiger and cut their losses at a later date, who knows with moronic central planners, you know policy makers, the same assholes that run our country.
The bigger question is who will buy the current sale of treasuries from the US, the answer is largely by central bankers both at home and in the west, that do so by counterfeiting everyone's currency.
China was a sucker and they may be learning that fact.
Surprisingly quiet about the massive trade war that appears to be looming:
I'm *hoping* these are all bluffs for the sake of the American people but on the other hand, if it fails miserably, we can blame Trump, since literally nobody else in the administration & congress (on both sides of the aisle) agreed with this insanity.
It would be interesting to see a breakdown of what we sell to China?
I would guess that it is mostly raw materials and agricultural products because it isn't ipads I'd assume.
I read a comment from a pontificator that America's exports reflex those of a third world country more than an industrialized nation. Raw materials to China so they can send us back manufactured products.
Of course we do have a thriving arms industry, that would be our most important manufactured products possibly. Certainly the piece of crap prize winner was a great arms dealer and Trump is not one to be just an also ran.
"literally nobody else in the administration & congress (on both sides of the aisle) agreed with this insanity."
Is that because of the derangement syndrome or other reasons?
In the off chance it works to our advantage long term (not next news cycle) you will continue to inform us.
@Bruce: "Is that because of the derangement syndrome or other reasons?
In the off chance it works to our advantage long term (not next news cycle) you will continue to inform us."
No, it's because everyone (even those in his cabinet) knows it's going to end badly. He's sacrificing the good of the country to puff up his numbers.
He's sacrificing the good of the country to puff up his numbers.
Obama would never have done something so heinous......
Your answer is a ture indicator of how bad the syndrome is.
If politicians on both side of the isle think this is a bad idea they could put a stop to it instantly by taking away the power they gave the executive they shouldn't have been allowed to do. They won't because when things go south, they will have no one to blame. It is just another way to bring down Trump or insure he will not be reelected. It makes little difference because Trump doesn't know the consequences of what he is doing either.
But since you do, why don't you do your country a favor, and contact the White House to fill them in?
I'm amazed how few understand how to negotiate. You take a position beyond what you desire as the end result. This gives you room to negotiate. Why is this so hard to understand? Is it because no one knows how to negotiate?
My two cents about "trade wars."
1. Trump is using tariffs as a negotiating chip to get the Chinese to honor intellectual property rights and to open their markets as previously agreed.
2. Trump is really, really ignorant of the economics of trade and really, really believes that higher tariffs will help Americans.
We've seen the pattern with Trump already. Lots of confrontational statements about North Korea. Then gets moved to negotiations and pressure from China. This is a classic hardball bargaining technique.
Is this what's going on? Hope so...
LOL. Technique? You give the orange anus too much credit. He's talking from his ass with no clue. "The PO is Amazon's delivery boy". "They're crossing the border in droves to take advantage of DACA". "We'll be leaving Syria very soon". WTF is wrong with you?
Both the United States and China are bound by the terms of the international agreement on tariffs and trade, GATT. If China is not abiding by its terms in relation to its trade with the U. S. the U. S. can take its case to those administering the agreement, the World Trade Organization (WTO). This will take years to resolve and both sides know it. We are holier than thou and always play by the rules, including those agreed to for war, The Geneva Convention. It is the reason we lost in Korea, Viet Nam and now in the Middle East. The only losers in this game are the ones who play by the rules. If you try and punish China by putting a tariff on the goods they produce and we import, all that is going to happen is they will either drop their prices to stay competitive or the business will go to other countries and they will increase their prices to match those of the Chinese. Who wins, no one. Who loses, the American consumer.
If the U. S. really wants to punish China it can ban the export of what China is importing from us. Who loses; the American farmer because he will have lost his market and the bulk of his income. The Chinese will just outbid others for the surpluses that are available on the world market because, like the Saudis who tried this with oil in the early 1970s, when you try and punish someone by holding back the response is always go somewhere else or do without. and you lose.
Your conclusion can only be that the only loser in a trade war is the one who plays by the rules.
Have to say the orange anus has a certain ring to it. ; )
As usual, vulgarity sans comprehension.
There is nothing more vulgar than DC and all that they do there. Why would anyone think that those people deserve anything but epithets.
"Why would anyone think that those people..."
Mike G. -
Because they are people. They deserve more than dismissal as creatures undeserving of your or my respect because you regard them as mere epithets. Even people who inhabit "DC" are people. Many of them are vulgar, to be sure, but mere vulgarity doesn't make anyone unredeemably despicable.
“Have to say the orange anus has a certain ring to it. ; )”
Now that was funny.