The primary goal of this site is to provide mature, meaningful discussion about the Vancouver Canucks. However, we all need a break some time so this forum is basically for anything off-topic, off the wall, or to just get something off your chest! This forum is named after poster Creeper, who passed away in July of 2011 and was a long time member of the Canucks message board community.
The Fed has released a paper on the effects of Trump’s trade wars:
Abstract
Since the beginning of 2018, the United States has undertaken unprecedented tariff increases, with one goal of these actions being to boost the manufacturing sector. In this paper, we estimate the effect of the tariffs—including retaliatory tariffs by U.S. trading partners—on manufacturing employment, output, and producer prices.
A key feature of our analysis is accounting for the multiple ways that tariffs might affect the manufacturing sector, including providing protection for domestic industries, raising costs for imported inputs, and harming competitiveness in overseas markets due to retaliatory tariffs.
We find that U.S. manufacturing industries more exposed to tariff increases experience relative reductions in employment as a positive effect from import protection is offset by larger negative effects from rising input costs and retaliatory tariffs. Higher tariffs are also associated with relative increases in producer prices via rising input costs.
I find that Aaron and Justin write in unnecessarily complex sentences, but to sum it up:
US industries affected by the tariffs are laying off people, as any positive effect of the tariffs is offset by larger negative effects.
This is exactly what was predicted by anyone with even a rudimentary knowledge of economics.
Trade wars are bad and hurt everyone involved.
We’ve known this (at least) since Adam Smith published his treatise On the Wealth of Nations in the 18th century.
That some people still don’t get it is mind boggling.
Topper wrote: ↑Tue Dec 31, 2019 6:36 am
Short term thinking and as someone who is in the US frequently and has several friends there, they are enjoying an economic boom.
Very true. The amount of work offered to me in Pennsylvania, Washington state and California is rediculous. They have 5+ years of mega projects in various stages of completion and if i was younger i would be gone.
This supposed recession is only mentioned outside of the US
Topper wrote: ↑Tue Dec 31, 2019 6:36 am
Short term thinking and as someone who is in the US frequently and has several friends there, they are enjoying an economic boom.
Yeah, the boom started under Obama and has continued under Trump.
Things could have been even better though if he had embraced free trade rather than protectionism.
Topper wrote: ↑Tue Dec 31, 2019 6:36 am
Short term thinking and as someone who is in the US frequently and has several friends there, they are enjoying an economic boom.
Very true. The amount of work offered to me in Pennsylvania, Washington state and California is rediculous. They have 5+ years of mega projects in various stages of completion and if i was younger i would be gone.
This supposed recession is only mentioned outside of the US
That’s because it hasn’t started yet. It is expected within the next year or so.
Sadly, it could be that it happens after the election.
Remember the uproar and vilification of the teen in a MAGA hat on a school field trip, who smiled when he was confronted by the aboriginal professional protester?
If you watched the video, there was a third group at the Lincoln Memorial that day who also confronted the school boys. The Black Hebrew Israelites were chanting racial violence against the children.
Mid December, two men, one affiliated with the Black Hebrew Israelites shot and killed five people at a Kosher deli in Jersey City. Another affiliate of the Black Hebrew Israelites stabbed 5 people during a machete attack at a Rabbi's house.
UK, your thoughts...
Over the Internet, you can pretend to be anyone or anything.
I'm amazed that so many people choose to be complete twats.