CleverOleg

This is the kind of person who thinks it’s us who “DoEsN’t uNdErStAnD bAsIc EcOnOmIcS!”

You’re right that what’s been going on the last 30 years is unsustainable. But what you’ve gotten the last years has been full-on, uncut pure capitalism and Trump is just trying to solve that with even MORE capitalism. Yeah sure that should work…

Should the US start a war with Iran, I fully expect “being opposed to the war against Iran is anti-semitic” to be deployed sincerely.

So far it doesn’t seem like this has affected Trump’s approval ratings, but then again the pain hasn’t even begun yet.

I mean, it’s logical (if not efficient) in that Trump’s tariffs will have a major negative impact on profitability in the future should they hold. Honestly IMO current prices assume Trump will back down… if it becomes clear he won’t, then stocks will completely melt down.

Legal: giving needed assistance to our poor agriculture industries (I mean, “farmers”) so we can have food security.

Illegal: anything anyone else does.

He means “illegal” by vague “rules based international order” trading rules. Which is a totally incorrect understanding of course.

I speak neoliberal economist, so I actually understand this one. Any state-owned enterprise or private company that receives any subsidy is “interfering with the free market”, and thus is unfair. Companies should be allowed to freely compete with each other without any subsidies, so the most efficient company will eventually win (obviously this is horse shit, but that’s the line at least)

Where in that image does it say anything about oppression? The thing about being ace is that society makes you feel like an alien, like something is wrong with you in a society where sex and relationships saturates everything. So finding other ace people can make you feel less alone and help you realize there’s absolutely nothing wrong you. Getting mad about ace people have a day for themselves in really petty, J.K. really is just an awful person.

Lol Trump’s gonna turn that down flat. America is evil but Europe is just pathetic. Trump cares about the trade deficit and lowering all barriers basically does nothing compared to the old status quo, which had very little barriers to trade. This is like a kid who walks into a candy store, sees a lollipop, asks how much it is and in response pulls out a rubber ball, a leaf, and a frog and says “I have this much is that enough?”

In and of itself, totally agree.

I do think though, we are approaching an unavoidable crisis as the rate of profit was already getting squeezed. Not unlike the 1910s or the 1930s or the 1970s. Every time so far, capitalism as found a way to wriggle out of the jam. The gains from neoliberalism (what solved the profitability crisis in the 70s) have been exhausted. How the contradictions resolve themselves this time is anyone’s guess.

By my reckoning, this means Trump plans to impose 20% + 10% + 34% + 50% = 114% tariffs on China. Jfc…

Consider that neoliberalism - offshoring, privatization, deindustrialization, and financialization - is what pulled capitalism out of a profitability crisis in the 1970s; and we seem to be destroying everything neoliberalism has built… I would say so.

This is where I really appreciate Michael Roberts’ (the Marxian economist) work. The rate of profit has a tendency to fall. It falls sufficiently, you have a crisis. The Great Depression was one of these crises, and capitalism escaped that via WW2 and the destruction of productive capital on a scale we can hardly fathom. Capitalism was able to ride that wave for a time, until it couldn’t anymore by the 70s. Capitalism wriggled out of that one by neoliberalism. Now that the gains from neoliberalism have been exhausted, capitalism will either find yet another trick up its sleeve… or collapse.

The market would need to tank another ~50% (very roughly) to get back down to pre-COVID levels. But something that every stock market “expert” seems to forget is that inflation is built into the stock price. So in real terms if the market doesn’t drop all the way down to the pre-COVID point in nominal terms, we’ll still be down lover than that.

My armchair analysis (as someone who was involved in equities in a past life)… I think the market hasn’t priced in an assumption that Trump doesn’t back down (or that he’s assassinated or whatever). They’re still giving it 3-6 months before Trump backs down or decides to take little marginal victories like Vietnam agreeing to buy a few more soybeans or something. And tbf the White House is starting to give mixed signals on that. If and when it becomes clear Trump is flying this plane into the towers then the market will crash hard, I think it could surpass 2008-09.