US Politics. Oh yes he did. Oh no he didn't


#3272

Gary Cohn has resigned as Trump’s chief economic adviser.

But this White House is NOT, I repeat NOT, in chaos. This level of staff turnover is totally normal. This is a totally, totally normal regime.


#3273

Trump is going to start a trade war with Europe
:popcorn:

TBF he’s right in a way. Ze Germans have a huge (and I mean giant) competitive advantage with the Euro.

Good old US of A home of capitalists and protectionism cc @labane1917


#3274

US starting trade wars
Russia boasting of its arsenal
China just declares President for life

We do live in interesting times tbf. Let’s hope we get through it without any kind of apocalypse.


#3275

It’s a very foolish move to start a trade war with Europe, and I suspect Trump will back off this approach.

The problem (and it is not a new one) is China, which has paid zero attention to the concepts of free trade for decades. You cannot have free trade when one side constantly steals intellectual property and produces copycat products, pays no attention to health and safety, manipulates its currency to 25% below its true value, and dumps product at below cost prices when and wherever it feels like it. The problem Europe has with steel is if the US restricts cheap steel imports from China, they will be dumped on Europe instead.

The US passively accepted this situation for decades, driven by lobbying by large corporations who wanted to avail of free labor in China, and politicians and economists blindly supporting “free trade” which was anything but. In the decade from 2001 to 2010, something like 33 million jobs were lost between manufacturing and jobs depending on manufacturing.


#3276

Economic myth number one. Free trade makes everyone richer


#3277

The genie is out of the bottle now with China.


#3278

Free trade is by far the biggest factor in the development of peaceful societies and the reduction of poverty. Look at the economic records of countries that embraced capitalism and free trade versus those that didn’t, the per capita GDP difference is about X10.


#3279

Free trade is by far the biggest factor in the development of peaceful societies and the reduction of poverty? By far? Could anything else at all have been a factor I wonder?


#3280

I didn’t say there weren’t other factors, democracy, scientific discovery, etc.

Free trade between nations is the biggest economic growth factor by far in history. If you think something else is, then fire it up and defend it.


#3281

Hold on now a minute, have you figured out what it is you’re trying to say yet?


#3282

Yes, free trade is by far the biggest factor in economic growth, the development of peaceful societies and the reduction in poverty.

Is this too complicated for you?


#3283

Those are not all the same thing. Your two posts are completely different, you didn’t seem to realise that, which suggests to me you haven’t a fucking clue what you’re trying to say.


#3284

Where did I say they are the same thing? You are very thick, extremely so in fact for someone who self classifies as a top 5 poster.

They are all related. Free trade leads to economic growth and reduction in poverty, nations that rely on each other for trade tend not to go to war (the opposite being protectionism which leads to war).


#3285

You have him stumped, mate.


#3286

You made an assertion, I asked you a question about it, you responded with a different assertion.

Have a read back there. Let me know when you’ve figured it out.


#3287

Trumps White House in a newscrawl

image


#3288

Hard to disagree with any of this.


#3289

Julian knows.


#3290

Fairly sure EU already has anti-dumping measures in place for Chinese steel


#3291

There’s no point in even engaging him, at least Sidney can post a coherent argument together on occasion.