Replying to Avatar Bill Cypher

There is a real short list of things that Austrian and Keynesian economists agree on. Tariffs destroy your own economy is one of them.

Here we are. A president so incompetent that he proudly did the 1 thing every economist on the planet agrees is bad for the economy with the goal of saving the economy.

We all make mistakes, but I have yet to meet a single real Trump supporter who has admitted they fucked up and now oppose him.
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nicodemus 9mo ago

Not a trump fan - I’m a bitcoiners with popcorn.

But the best argument I’ve heard for tariffs is to FORCE the IS economy into contraction, eventually forcing the fed to lower rates. Lower prices and rates then paved the way for a combo of deregulation and lower taxes to make manufacturing here in the US very attractive. And people will be desperate to work.

Overseas, due to reserve status / Cantillon effect, they feel the tariffs harder and are, in some but not all situations, forced to spend more dollars.(but wouldn’t they just sell treasuries??)

Supposedly attempting to roll back the Triffin Dilemma.

Whatever. It’s all good for the corn. There may be an initial dip, but it’s going to rip afterward. In fiat terms and adoption.

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Bill Cypher 9mo ago

Here are the options for economic inequality between 2 trading nations long term. These are from the perspective of the wealthy country that has outsourced their production into a trade deficit with a poorer country.

A: You can let them get rich as a result of their hard work until there is no longer an incentive to outsource because your economies have hit parity.

B: Tariffs will nuke your own economy down to whatever level the other economy is at so there is no longer any incentive to outsource because your economies have hit parity.

The only possible reasons I see for choosing B.

1. Xemophobia and or racism causing you to to oppose the other economy succeeding.

2. Tariffs give government coffers a bigger piece of the money pie that can be used to fund more corruption that you and your buddies can pocket.

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BitBees 9mo ago

Wonder if Trump & cronies sold at the top and are intentionally driving down the economy to buy back at cheap prices, then remove tariffs?