Just the Fear of a Trade War Is Straining the Global Economy
Source: The New York Times
By Peter S. Goodman, Ian Austen and Elisabeth Malkin
June 16, 2018
LONDON Only a few months ago, the global economy appeared to be humming, with all major nations growing in unison. Now, the worlds fortunes are imperiled by an unfolding trade war.
As the Trump administration imposes tariffs on allies and rivals alike, provoking broad retaliation, global commerce is suffering disruption, flashing signs of strains that could hamper economic growth. The latest escalation came on Friday, when President Trump announced fresh tariffs on $50 billion in Chinese goods, prompting swift retribution from Beijing.
As the conflict broadens, shipments are slowing at ports and airfreight terminals around the world. Prices for crucial raw materials are rising. At factories from Germany to Mexico, orders are being cut and investments delayed. American farmers are losing sales as trading partners hit back with duties of their own.
Workers in a Canadian steel mill scrambled to recall rail cars headed to the United States border after Mr. Trump this month slapped tariffs on imported metals. A Seattle customer soon canceled an order.
Read more: https://www.nytimes.com/2018/06/16/business/tariffs-trade-war.html
pazzyanne
(6,556 posts)Can you hear the belly laughs coming from Russia?
LastLiberal in PalmSprings
(12,586 posts)Now, if he only get that damned wall built between the U.S. and Mexico -- and maybe another one between our country and Canada -- plus another giant tax cut for himself and the billionaire class, Donnie Two Scoops will have more than exceeded his goals. After that, who knows what Hell he has planned for us.
Meanwhile, the deplorables cheer.
pazzyanne
(6,556 posts)Thank you for sharing.
Bernardo de La Paz
(49,011 posts)was her emails.
Then when they object and say the stock market is near the all time high set one year after Trump's inauguration, remind them that Trump is a business genius because he had six bankruptcies, i.e. using and losing other people's money. Ask them who's money is going to pay for the huge tax cuts for the 1% that are ongoing, not temporary. Answer: their own retirement money cut from Social Security and Medicare.
Then tell them that Benghazi was the second most important thing in the 2016 election. They'll say no, illegal immigration. So ask why Benghazi had seven investigations by RepubliCons lasting for years if RepubliCons were going to do anything about illegal immigration while controlling both houses, which they didn't.
Then remind them that they voted so a non-churchgoing unChristian liar could punish parents by harming children by separating them.
CrispyQ
(36,478 posts)which has been fed to them for four decades via hate radio & it's evil spawn Fox news. The dems/left really dropped the ball ignoring hate radio.
Bernardo de La Paz
(49,011 posts)"Democrats" is spelled with a capital D unless you are including Republicans, Libertarians, Greens and others who vote in democratic elections at national, state, and local levels.
To get people to make a switch from propaganda to reality, they have to overcome years of conditioning as you point out. Their world has to "stop" in an earth-shaking manner (metaphorically) so that they wake up. Basic logic does not work because they have been trained to use all kinds of fallacies to short-circuit logic (ex. "What about X?", gish-gallop, emotional thinking, binary fallacy, change topic before one is finished, etc.).
Present the inherent contradictions of their voting under the radar by getting them to agree with both halves before pointing out the contradiction. Example: You could be a lot richer if the government wasn't in the way, right? Tax cuts for the rich will help you later right? So it is good to cut your medicare and Social Security to help the rich, right? Then hit them with "You are not part of the 1%, so why do you vote as if you were?"
ffr
(22,671 posts)Under Nafta, Mexico has grown into the worlds largest importer of American apples. But sales are down because the price has gone up by nearly one-fifth in the past week alone.
Isn't that called inflation. And doesn't inflation usually kill an economy by driving up interest rates, and thus stifling borrowing? I think that's what I remembered from economics, a class I think tRump voters probably aren't aware of.
paleotn
(17,931 posts)The monied interests won't stand for this. And they are the ones who call the shots. Have been since Hammurabi and the old kingdom pharaohs. Interesting that the interests of free, liberal people for once coincides with theirs.