Fallout from Trump tariffs

[pbrower2a]

The globalized economy allows people cheaper stuff than they otherwise would have. For someone not in manufacturing, this is on the whole a good thing. Maybe it was easier to get a job in a TV factory in America around 1980 when one paid $500 for a US-made small tube TV (19" screen) -- in 1980-era dollars. (In fact there were TV factories in the USA, which there are not now).

Manufacturing has become a smaller sector of the American economy, and most of us do not need more stuff. It's mostly replacement now. To make manufacturing work again in its role in the economy, people would need to have fourth and fifth cars for families with three adults, which makes little sense. People would have to be hoarders (a horrible way of life) to make manufacturing as big a part of the American economy as it once was. And then America would need to protect domestic manufactures.

Let's remember that although the bulk of poor people in the early industrial era (the capitalism that Karl Marx knew), miners, and workers in farms and factories were mostly poor -- obscenely poor by modern standards. Cheap labor on the brink of hunger was essential to the command-and-control order of early capitalism.

We rely more heavily upon services now for our economy. I question how we could do otherwise. 

[pbrower2a]

Meet The Press with Chuck Todd has a segment in his show called "Data Download."
In today's (Sunday June 24th) episode, he did a story on how China's tariff-retaliation on soybeans has hit the farmers in the USA hard.

Soybean prices have so far declined 15% in the USA, which is more than a 2-year low. This is hurting US farmers in the US, and is especially hurting those states which mainly produce soybeans. The top 10 states are: IA, IL, MN, NE, IN, OH, SD, ND, MO and KS. Eight of these states voted for trump, with MN almost voting for him.

And within all 10 of those states, 95% of the soybean-producing counties here, voted for trump. So those farming communities hit hardest by the soybean tariff are Donald Drumpf voters.

To see the 2-minute clip/episode, click here: https://www.nbcnews.com/meet-the-press/video/in-trump-s-trade-war-china-takes-aim-at-vulnerable-counties-1262854723828

Illinois outside of Greater Chicago (basically anything east of Aurora and Elgin and north of Joliet) is very R.

[pbrower2a]

Slogan for sgurts for farmers:

I voted for Trump, and all I got was lower crop prices and higher fuel prices,

[pbrower2a]

The Personality Cult has formed; it has taken over the Republican Party. Donald Trump, the Great and Glorious Leader Who can do no wrong and has become the Ultimate Arbiter of truth and falsehood, is now beyond any rational judgment or criticism.

The people around whom cults of personality form are the people of weakest philosophical or moral attainment. People of legitimate achievement let the achievements do the talking, and might attribute their successes to luck. With the Personality Cult it is all Self -- and everyone else is but livestock or tools at best, vermin or garbage at worst. 

[pbrower2a]

Iowa: approval of President Trump's tariffs is at 24%, and approval of his job performance is at 37%. This is the first statewide poll of any kind asking about approval or disapproval of tariffs in a state. Iowa is the definitive agribusiness state, and export-sensitive crops are a big part of the Iowa economy. Farmers and ranchers usually vote strongly R on the issue of taxes, but if the R politicians do something to hurt income, then those farmers and ranchers swing D.

https://www.emerson.edu/communication-studies/emerson-college-polling-society

(It's a podcast).

[pbrower2a]

And realignment continues!


Welcome back American System, been too long. We need to catch up!

Just what I expected and predicted would happen. He would use tariffs to try and help the previous losers in the old free trade consensus and then use subsidies to keep those elements who profited under the old system from bolting.

Combining tariffs with subsidies and low interest rates (if Trump had his way) is like something straight out of the Whig Party or the early Republicans.

Don't forget Trump's infrastructure plan when he first got elected.

Yep -- with transportation, basically add tolls to existing freeways. One doesn't need to upgrade existing freeways because people will find other ways to get to work or will change their residences to have shorter commutes.