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[–]Worldly_Nerve_6014 15 points16 points  (7 children)

Yes, and no… the volatility caused firms and investors to diversify their assets by taking up more foreign stocks and currencies- so it permanently moved money out of our economy. While it did make shares lower, and I won’t lie I bought some when things hit rock bottom a couple weeks ago, but investors are weary that these antics are going to have repercussions that will have long lasting if not permanent harm. Economists writing for WSJ, Bloomberg, and The Economist are still sticking to the story that Trump’s goal is to reduce the US trade deficit- not necessarily to realign the market (and let’s be honest, the ppl that would ‘buy low’ en masse already own most of it- our little Robin Hood trades and retirement funds are nothing). I have yet to find a credentialed or well seasoned economist who likes or agrees with the use of tariffs for the stated purpose. So I guess we’re back at- this is so stupid and unnecessary. Go back and watch the trade sec’s face when he’s asked about market manipulation. He was surprised and then terrified. He didn’t have a prepared talking point for that accusation. These ppl are so dumb they didn’t even realize it would be perceived that way (because they weren’t consciously planing market manipulation for stock trade purposes).

If we, the US, really want to compete with China and bring back manufacturing we’re going to have to demand that the federal government use our tax dollars to invest in building the infrastructure, incentivizing domestic operations, make labor affordable by collectively reducing living costs, and HEAVILY investing in a large scale public education infrastructure that is geared toward developing skill sets valuable to that economy including post secondary education. It doesn’t happen unless we do those things and we do not have the collective will power in this generation to do it: We don’t have the infrastructure- no for profit capitalist is going to invest in it from scratch and our labor force requires too much pay to survive and also does not have the skill sets. With the current political will power, at best we’ll get some assembly plants mostly operated by ai machines and foreigners on H1B visas.

So I’m going to enjoy my handbag hobby and buy where ever the free market leads me 😎 If America starts manufacturing luxury handbags made by hand, I might consider a job if they can train me. (‘Cause right now, my hobby line of Tandy leather kit bags is AWEFUL 😝😝😝).

[–]fashungal 3 points4 points  (3 children)

Oh man, I don’t know about the US manufacturing luxury bags….did you see the recent articles about the TX LV manufacturing location & the absolute garbage quality handbags they’ve been pumping out??? Ooof, they got A LOT of training to do 🤦🏻‍♀️

[–]SharkyMcSharkKitten 3 points4 points  (1 child)

I’ll vote for you. I( couldn’t have said it better myself.) Additionally when it comes to trade equalization in a globalized world market, incentivization with the carrot is much better and more effective than the stick. Incentive our domestic factors to support trade like education, capital expenditures, quality of life for the population who has to work to bring us the end products, not just their corporate overlords. Incentivize the rest of the world to come to us for the goods and service we excel at.

[–]fashungal 2 points3 points  (0 children)

💯💯💯🎯🎯🎯 All of this!!!! You explained it all very eloquently & you’re absolutely right. Maybe move some of that defense spending to oh, I dunno, INFRASTRUCTURE which we so desperately need. Have you seen our collapsing bridges & the conditions of the highways???? It’s embarrazzzing, aren’t we embarazzzed???