Trump dismisses trade war fears; China warns of market chaos

Trump shoot farmers in the back then hug them.

”But he cares about farmers!”, yeah, sure...

Don’t forget the subsidies are paid with debt bough in part by... China.

U.S. President Donald Trump on Tuesday dismissed concerns over a protracted trade war with China despite a warning from Beijing that Washington's decision to label it a currency manipulator would lead to chaos in financial markets.

"And when it comes to business, you know you can trust me; I've bankrupted six companies and lost over $1 Billion over 10 years - I'm a financial genius!"

He also pledged to stand with American farmers in the face of Chinese retaliation. China has halted U.S. agricultural purchases and raised the specter of additional tariffs on U.S. farm products.

"And I will continue my socialist policy of providing government subsidies to those in need..."

Bernie, Elizabeth and the Squad welcome you to the socialist club Donnie...

Look at all that socialism. Socialism bad.

Robbing Peter to pay Paul. straight from trump's playbook from his bankrupt NY days. all his supporters need to learn how to read and realize that they're getting took by this crook.

Let's face it. Trump has no idea what he is doing. He's so far out of his league it is scary.

Bailing out farmers - and boasting about it.

What a mess.

Dear farmers of the USA:

We told you so. Most of the relief is going to corporate farms. This man needs to be voted out.

Trump digs socialism. He’ll be joining the squad next.

U.S. farmers, a key political constituency for Trump

Open the link below to see which corporations/PACs are contributing the most to politicians.

It shouldn't be surprising to see Republicans are getting the most. After all, it's Republicans pushing the hardest for a corporatist governed US. Would that be what the alt right calls 'socialism', if so would that be similar to the national form defeated in the 1930s.

https://www.opensecrets.org/industries/indus.php?ind=A07

China shares just as much fault as Trumpty for all this.

Nonetheless, it’s pretty obvious that they have no intention of giving in to President What Me Worry?

And they’ve dedicated themselves to causing him as much electoral pain as they can.

This trade war is going to be neither short nor easy to win.

So, for those that bash Trump and the trade war, what would you do about China?

Approach it in a methodical, well-thought out manner instead of using Twitter.

This is a manufactured crisis, plain and simple.

Most of Donny's issues are manufactured by him. His MO is to create an issue, blame it on Obama, and then blunder along trying to "fix" the self-inflicted problem

So that’s why they call them the “Red States.” ; )

I bet China is praying now that any Democrat beats Trump, though they prefer Biden.

Of course they are, just like every rational adult in the world.

Are the fiscal conservatives hibernating? Have they gone extinct?

They are so quiet these days. They used to roar non-stop on this site.

I will once again quote the great economist Peter Schiff who tweeted the following:

Last night China refrained from intervening in the currency markets to prevent the yuan from falling. Its failure to manipulate its currency higher has resulted in the U.S. designating China a currency manipulator. So not manipulating your currency is currency manipulation!

Larry Kudlow claims that China's economy is crumbling, and that it's not the economic powerhouse it was 20 years ago. He has it backwards. It's the U.S. economy that is not the economic powerhouse it once was, and its America's economy that will crumble without Chinese support!

Kudlow's claim that China is not the economic powerhouse it was 20 years ago is laughable. Per capita income in China has grown over 50 times faster than it has in America over that time period. Kudlow knows as little about the Chinese economy as he does about the American!

Wolfpack:.  and the US should do - nothing???

And you're saying the US should nuke China? That's genocide

As a “short term” safety net, that’s right.

Haven't you learned yet that you making predictions is not the best thing?

No, not at all, because these Democrats what to replace the capitalist system,

No. Just like democrats aren't pro-open borders and do not think that undocumented immigrants should have more rights than citizens.

trump just wants to use that temporary socialist subsidy as a short-term Safetynet big, BIG difference, but

Yeah, we all see the big difference: When Donny does it, it's the greatest thing since sliced bread; when a democrat does it, it's the worst idea in history. Again, Your hyperpartisanship is transparent.

Youre also starting to get so worked up that your posting is suffering. The next step, and my personal favorite, is you starting to contradict yourself.

Look at all that socialism. Socialism bad.

yeah I was thinking just that America will never become a socialist country as Trump stated, until that is he needs to buy their votes. lol

but the farmers are free traders in a free market, a free capitalist market.

yep until that is they are gifted $28billion in socialist taxpayer funded subsidies. Then you have the auto sector banking sector boeing etc etc etc. The question should be which industry hasnt received government subsidies. which is basically governments meddling in so called free markets

We all know that, but that’s not the issue, the issue is that it’s temporary, natural a permanent then I would have a problem with it and I can also deal with it, because it’s not from the cradle to grave socialism.

But you don't know what socialism is. Many countries around the world have adopted socialist models, market socialism and certain ideas and elements.

The NHS in the UK is an example, doesn't mean the whole country is socialist, though.

So, there is elements of socialism coming into play in the US. Does it mean that the US will adopt all the many varied types of socialism and implement them? Of course not. That won't happen with this current crazed and badly educated generation.

But eventually, international movements to make the world a fairer place must win. I'm making it as simple as I can - the system that favors the elitist, the rich and those that build their empires on the shoulders of the working class, the system that seeks to oppress the poor and divide them - this capitalism has to end, or at least undergo radical transformation.

Basically, socialism is fine if it benefits the Trumpists but not so fine if it benefits everyone.

And when it's corporations needing and using government assistance, like the oil corporations, farmers, big defense industries, etc., it's called corporate socialism.

@basf4 Which is very different son giving individual socialism entitlements from cradle to grave.

Corporate welfare, subsidies for big energy, socialism for the rich, has been going on for a long time. The Koch brothers are old and their father was a recipient.

several measures to aid oil companies passed in the early 1900s remain of key importance to the industry,

https://cen.acs.org/articles/89/i51/Long-History-US-Energy-Subsidies.html

Koch Brothers Receive $400 Million In Subsidies,

https://www.ibtimes.com/political-capital/koch-brothers-receive-400-million-subsidies-want-government-out-thanksgiving

And the super-rich are paying less in taxes while they're getting subsidized thanks to Trump, Moscow Mitch. Leningrad Lindsey and the GOP. The working and middle class are paying more to benefit Trump's pals.

The U.S. has collected $63 billion in tariffs from China since June 2018. Oh my!

Oh my indeed, who do you think paid for it , the importers of those products, and now those importers will have to raise their prices to cover these extra cost , when the consumer buys that product with the increased prices it them that end up paying for it. why is it so hard for Trumptards to understand the basic principles of trade.

It’s no doubt hurting both sides, but Schumer thinks Trump should hit China and not let up on them, help the farmers with temporary relief until things stabilize.

According to all of your previous posts, Schumer is an idiot. Now that he seems to agree with Donny, you're citing Schumer. Your hyperpartisanship is painfully transparent.

these Democrats what to replace the capitalist system, trump just wants to use that temporary socialist sub

Woot?

China is in a very weak position and soon will be grasping for straws. What Trump is doing should of been done years ago but dummies, like are posting here, could not see or did not care, to do it. The US is in the strong position for the first time in many decades.

Never mind all that US debt China holds.

Also, prediction: China will meddle in the 2020 US elections to get a Democrat in office

If that happens and a Democrat wins, the Democratic President can just go on stage with Xi and tell us China didn’t meddle because Xi said so.

No problem. That is acceptable behaviour now.

Red Donny spending like crazy. The fiscal conservatives must be apoplectic.

So that’s why they call them the “Red States.” ; )

Hehe. Trump will be campaigning with a Che Guevara t-shirt on instead of a MAGA hat in 2020.

Have you seen how the debt is increasing?

The fiscal conservatives need to speak out and put a stop to this.

Well, thanks for admitting it - Donnie is implementing socialist polices.

Yes, temporary as a safety net.

Temporary or not, they're socialist - so no more "socialist" insults from the Pubs, unless you include Donnie...

He's for subsidizing farmers and he's said he doesn't want to touch Social Security and Medicare - Donnie is "all in" when it comes to socialism. 

It’s a different thing as to implementing something for life long or long term extreme. That’s exactly what you don’t want to have.

Both are socialist policies - and he supports both - according to the Repubs, what are you called when you support socialist policies?

He's something new - a melding of both socialism and fascism...

That’s the Democrats playbook

Nope, this is Trump's playbook....

After all, Trump’s tariffs are not only a new tax for Americans, but a policy of directly picking winners and losers in the economy. The interests of steel workers, for example, are being placed above the interest of consumers and farmers. This leads to the government using tax dollars to prop up farmers. Of course this spending means that tax-paying consumers are hit yet again, with their tax dollars being used for this new welfare program.

https://mises.org/power-market/trumps-road-socialism

Temporary or not, they're socialist

No, if they were, our system would have been completely overhauled by the Democrats, it hasn’t, it’s all temporary, but the farmers are free traders in a free market, a free capitalist market.

OK, here you say "No"...these are not socialist policies...

Both are socialist policies

Yes, but temporary, it’s in the word, short time. If I go to watch a Democrat rally, it doesn’t make me a liberal.

But then you contradict yourself in the next sentence and say "Yes, but temporary". Which is it?

Nope, this is Trump's playbook....

After all, Trump’s tariffs are not only a new tax for Americans, but a policy of directly picking winners and losers in the economy. The interests of steel workers, for example, are being placed above the interest of consumers and farmers. This leads to the government using tax dollars to prop up farmers. Of course this spending means that tax-paying consumers are hit yet again, with their tax dollars being used for this new welfare program.

https://mises.org/power-market/trumps-road-socialism

No, short term is fine.

Short term socialist policies....

Trump also said in February: Trump: "America Will Never Be A Socialist Country"; "We Were Born Free And We Will Stay Free"

Then why is he implementing (short term) socialist policies?

I assume you would agree that we can then call him a "short term socialist?"

OK, here you say "No"...these are not socialist policies...

I think you misunderstand, what I was referring to was The overall implementation of socialism, in the context of it being temporary and to help the farmers, I find it OK. Now if you want to radicalized and change the entire system to a socialist system, then I will oppose it vehemently.

No, I get it - you're saying short term policies that are socialist are sometimes needed, but more general and widespread socialist polices are not. What I'm saying is you can't use socialist as a pejorative term like you often do if you then turn around and say sometimes socialist polices are good and needed...that's hypocritical...

Short term socialist policies....

Exactly, “short"

Yes, short SOCIALIST policies....

Then why is he implementing (short term) socialist policies?

You want the farmers to starve? Typical!

What I want is irrelevant - the issue is that these subsidies are socialist economic policy - enacted by Trump.

I assume you would agree that we can then call him a "short term socialist?"

Liberals can call the president whatever they want to, they call him so many names it’s hard to follow, but whatever makes them happy, go for it, no sweat off of his or my back.

So what would you call someone that supports short term socialist policies?

@baas4f A person in need of government assistance.

And when it's corporations needing and using government assistance, like the oil corporations, farmers, big defense industries, etc., it's called corporate socialism. Or maybe socialism for the rich. Or Republican socialism. When it's directed by an authoritarian leader, national socialism.

bass4funkToday 01:42 pm JST

Yes, but SHORT term.

What's SHORT term by the way ? After how many months/years does it become unacceptable ?

I’m guessing you aren’t a fiscal conservative.

I am.

Why don’t you criticise Trump for piling on more debt? You have been very quiet about your fiscal conservatism since Trump came in. It’s almost like you never really cared about it and your fury about the debt under Obama was purely partisan rather than based on principle.

Trump promised he’d eliminate it and the economy is in good shape.

I look forward to you criticising Trump for his spending in the future. The fiscal conservatives need to stand on principle. Wouldn’t you agree?

I could imagine Mayor Pete negotiating with Xi. Xi is by all accounts an extremely intelligent man, as is Mayor Pete.

If Mayor Pete is so intelligent, why is he so unpopular with his town's police force and why isn't he the Democratic front runner?

Intelligence doesn’t necessarily make you popular with the police force or make you the most preferred candidate.

Look at Trump for a perfect example. Trump was cracking knob jokes and making up stupid nicknames when he was running because he didn’t know his arse from his elbow about anything of substance.

As Napoleon ( a very bright man ) said, stupidity is not a handicap in politics and he studied politics hard in airport lounges and in first class on Air France.

Chinas economic policy has been a non-stop trade war ever since the Maoist regime turned to controlled state capitalism.

The idea that Trump "started" a trade war working to change the paradigm which has massively helped China and enriched some US big tech companies by using slave labour and avoid environmental laws, but at the same time has massively hurt domestic manufacturers and the environment is ridiculous.

So explain to us why Trump's ties and Ivanka's shoes are made in Chinese sweatshop factories?

https://www.youtube.com/watch?v=3ACCHxF4Afc

https://www.scmp.com/news/china/diplomacy-defence/article/2154219/trade-war-rages-shoe-biz-goes-ivanka-trump-and-her

Serrano

The U.S. has collected $63 billion in tariffs from China since June 2018. Oh my!

That statement shows you don't understand how tariffs work. Here's an explanation: Importers buy goods from China and pay them the full price. Then the importer pays the tariff (read 'tax') to the US government. The importer is now paying more for the same goods, so to keep their margins they raise the price to the US consumer. So the consumer pays. China doesn't pay a cent.

It's true that this will likely reduce demand for the goods because US consumers may balk at the prices. So in retaliation, China decides to buy agricultural goods from other countries and the US farmers suffer. So, to appease his farmer supporters from his blunder of starting a trade war, Trump pays the farmers socialist subsidies.

As you can see, everyone loses in a trade war. There are no winners.

No, if they were, our system would have been completely overhauled by the Democrats, it hasn’t, it’s all temporary, but the farmers are free traders in a free market, a free capitalist market.

Getting huge government handouts because their guy, Donny, is incompetent. That's socialism.

Yes, but temporary, it’s in the word, short time. If I go to watch a Democrat rally, it doesn’t make me a liberal.

Temporary or permanent, it's government handouts: socialism.

Trump also said in February: Trump: "America Will Never Be A Socialist Country"; "We Were Born Free And We Will Stay Free"

Hilarious that conservatives conflate socialism with authoritarianism. It speaks volumes about their intellect.

Socialism is actually good and cool, while capitalism is bad and is the reason that the human race is destroying the Earth's ecosystem.

He thinks that tariffs on foreign goods are paid by those other countries. It is shocking how little he knows. Obviously, the tariffs on Chinese goods are paid by Americans. The Chinese pay tariffs on goods imported from America, if they are tariffed.

From Paul Krugman, Nobel Laureate in Economics, May 7, 2019, New York Times:

"So if you're trying to make sense of what's happening on trade, you should start with the basic point that Trump has no idea what he's doing, that there isn't any coherent U.S. policy goal.

......One thing is certain, however: If we do get into a full-scale trade war, for whatever reason, it will be very hard to end it, and the world economy will never be the same."

From the same author, in the August 6, 2019 New York Times:

"Of course, economic logic has very little to do with any of this. Trump wants China to make splashy concessions in the face of tariffs, China let its currency slide a bit to signal that it won't be bullied. Basically, it's 'Sanction me? No, sanction you!' "

The only thing Trump "got away with" was reaching the hearts of enough voters in enough states to win the election.

Not the majority of voters, though. Serrano, what changed your mind between 2012, when you said the electoral college should be abolished, and today, where you think it is sacrosanct?

Yeah, I came to realize the wisdom of our Founding Fathers. It can't be denied that the Electoral College saved us from the disaster that would have been a Hillary Clinton presidency.

Will you change your mind again if the electoral college sees a democrat win the election with fewer votes than Trump?

Do you remember Trump wanting to abolish the electoral college after believing fake news ( was it Fox? ) about the non-American citizen Obama losing the popular vote to Romney?

Don’t sink to those levels.

Temporary socialism handed out by Donny to farmers he screwed is good!

Any handout by democrats is bad!

Sorry, can't understand this;

For the last three years the liberals can’t understand anything, sad thing.

Hey, I was just trying to understand what you said - it wasn't clear. If you can't post in complete sentences, don't post...

So for the time being, they being assisted by a SOCIALIST policy enacted by Trump...

Temporary.

You keep leaving out words - you approve of temporary SOCIALIST policies enacted by Trump, when previously both you and Trump have criticized these same socialist policies.

Not the receiver of the aid - what do you call the President who enacts and supports short term SOCIALIST policies?

The President.

He's not a Socialist President?

you bet China is praying for a Dem president in 2020. Sleepy Joe must be their favorite tho any Dem will do!

Are you kidding? They want Dimwit Donnie - so easy to trick and manipulate. And Trump and Vlad have already forged their pact in both those meetings at Summits without any US interpreters...

I never said that, focus please. I already explained what led up to it.

No, you did not. All you did is post info on the Chinese currency. That did not explain Donny's bumbling approach to rectifying the trade issues between the US and China. Try again.

No, they did much worse.

None of the plagiarized piece that follows this mentions Dodd or Frank. Notice how I posted a piece that points directly to whom gutted banking regulations that caused the financial crisi and I provided a cite? That's how you engage in a conversation in good faith.

That is not true,

It's very true. Have a look yourself.

although you have more liberals that are so emotional, they can’t even read or have a discussion with an opposing viewpoint.

Lmao! You are the one who cannot engage in a discussion with someone that holds an opposite viewpoint, which is why you constantly deny facts, push blatant falsehoods, obfuscate, and deflect at every turn.

I can actually see him talking to quite a few leaders of other nations; and in their own language given he speaks Norwegian, Spanish, Italian, Maltese, Arabic, Dari, and French.

That's what we need in a president - someone who speaks Norweigian, Spanish, Italian, Maltese, Arabic, Dari and French! Hahahahahahahahahahahah

Dang straight, who needs a President that can talk - the one we got now talks real good - he can say covefefe, and infrantroopen, and lawmurkers - darn right smart fella....knows them Brits snuck those airfields over here in 1776 too....

Thanks for the knee slapper, lincoln!

My pleasure, you ought to see how hard I slapped my knee when Donnie said his father was born in Germany....

That's what we need in a president - someone who speaks Norweigian, Spanish, Italian, Maltese, Arabic, Dari and French! Hahahahahahahahahahahah

Amazing how some on the far right despise education.

The establishment absolutely hates Trump.

Establishment as in smart, honest people with integrity...

Hes not a career politician

Very true, he's a career con-man...

so hes in there to actually right wrongs and get things done.

As many things for Putin as he can....

The left and the establishment cant stand the very idea of that.

Of course, they love their country and they're patriots...in comparison to Putin's Poodle and Moscow Mitch...

This just in from the U.S. Treasury Department -

The U.S. has collected $63 billion in tariffs from China since June 2018. Oh my!

And yet the trade deficit with China keeps growing. Care to explain?

Then again, maybe this will help:

https://reason.com/2019/08/02/the-trade-deficit-keeps-growing-and-heres-three-other-data-points-showing-trump-is-losing-his-trade-war/printer/

"Oh my!" indeed!

The U.S. has collected $63 billion in tariffs from China since June 2018. Oh my!

Really? That means the Chinese govt. has wired 63B direct to the US treasury? Please let us know the details.

You do realize that most "farmers" in the US are large agro-corporations, I hope (with well paid CEOs). That is whom most of the "socialism" is benefiting in this case.

Well at least the right people are suffering.

*"And I will continue my socialist policy of providing government subsidies to those in need..."*

As a “short term” safety net, that’s right.

Well, thanks for admitting it - Donnie is implementing socialist polices. I guess all those pejorative "socialist" digs at the Dems have to stop - unless Donnie and the Trumpers want to look in the mirror...

Bernie, Elizabeth and the Squad welcome you to the socialist club Donnie..

No, not at all, because these Democrats what to replace the capitalist system, trump just wants to use that temporary socialist subsidy as a short-term Safetynet big, BIG difference, but

He's for subsidizing farmers and he's said he doesn't want to touch Social Security and Medicare - Donnie is "all in" when it comes to socialism.

He's something new - a melding of both socialism and fascism...

socialism as a pejorative.

Most using that term these days seem to have little if any understanding of what all socialism entails and its different variations. Most can't even explain what capitalism is. Those who use the term as a pejorative have learned somewhere along the way that it's a bad word and just use it like they would Dumbo or Sleepy X or Crooked Y or Slimeball A or Sneaky M to describe some politician they don't like, or perhaps their leaders have told them not to like. Most lack the intellectual means to go deeper than name calling. Trump and his media keep telling them socialism is bad, so they just parrot.

A trade war is not a joke , trump is thinking only of himself selfishly.

Probably till after he wins his second term. But nothing to worry, Chuck Schumer really supports him.

We have a new Schumer fan. It's the short term socialism fan!

The establishment absolutely hates Trump.

Trump is the establishment.

The U.S. has collected $63 billion in tariffs from China since June 2018. Oh my!

Serrano has publicly admitted in the past that he knows Americans are the ones who pay the tariffs. And yet here he is making the same claim again that China is paying them. He's either being disingenuous, or he has Alzheimers.

He's either being disingenuous, or he has Alzheimers.

when it comes to supporting Trump you've got to be both disingenuous and have selective amnesia. sometimes, just sometimes I think what if I was a Trump supporter, then I think that Id be mentally exhausted trying to think up the multitude of BS excuses to support Trump for the last 3yrs. I mean other than being disingenuous and having selective amnesia youll also have to a wild imagination to dig up excuses that are both believable or actually supported with actual facts. The whataboutism excuses have been flogged to death

I bet China is praying now that any Democrat beats Trump, though they prefer Biden.

well you know they just might do that in helping a democrat win the presidency, afterall it worked for Trump and he got away with it.

No, I get it - you're saying short term policies that are socialist are sometimes needed, but more general and widespread socialist polices are not. What I'm saying is you can't use socialist as a pejorative term like you often do if you then turn around and say sometimes socialist polices are good and needed...that's hypocritical...

Actually you can end a reason you can’t is because of the implementation of it, so if it is short turn in for something that is necessary in an emergency situation it is perfectly and legitimately OK to use that, but it is not in the context of a system that we don’t use and that is not the standard of this country, now the Democrats want it to be, but that won’t happen.

Sorry, can't understand this; Actually you can end a reason you can’t is because of the implementation of it..

Maybe something missing or misspelled there?

Yes, short SOCIALIST policies....

Yes, but SHORT term.

But SOCIALIST...

What I want is irrelevant -

of course.

And?

the issue is that these subsidies are socialist economic policy - enacted by Trump.

For the time being, but ultimately what these farmers are our capitalist free marketeers.

So for the time being, they being assisted by a SOCIALIST policy enacted by Trump...

So what would you call someone that supports short term socialist policies?

A person in need of government assistance.

Not the receiver of the aid - what do you call the President who enacts and supports short term SOCIALIST policies?

@kestrel Liberal/lefty hypocrisy is on full display on this thread. you bet China is praying for a Dem president in 2020

Why? Are you just flaming, or do you have some evidence. Trump's ongoing bumbling is probably the best thing that's happened to China as they finlandize all along the Belt and Road territories and join forces with Russia in finlandizing regions within their European Economic Union.

Booty Judge- omg, can you imagine Booty Judge negotiating with Xi? Talk about bending over... )

Trashy, Serrano.

I could imagine Mayor Pete negotiating with Xi. Xi is by all accounts an extremely intelligent man, as is Mayor Pete. I’d go as far to say they are even smarter than Tucker Carlson, Judge Jerky or disheveled nutters in basements on YouTube.

 But I understand Democrats don’t create jobs in the private sector they create bigger government jobs.

Just don't do any research on this or you'll ruin the storyline.

Booty Judge- omg, can you imagine Booty Judge negotiating with Xi? Talk about bending over... )

I can actually see him talking to quite a few leaders of other nations; and in their own language given he speaks Norwegian, Spanish, Italian, Maltese, Arabic, Dari, and French.

Then there's Demented Donnie whose senility doesn't allow him to speak one..."infantroopen" and "lawmurkers"....

Yes, I do and it could be any other President. I don’t want the farmers to starve in the meantime and suffer for the mistakes of the last 3 Presidents.

So you approve of the bailouts under Bush and Obama.

No they allow China to take advantage of the US market and consumers and the entire government.

That did not cause farmers to lose market share. Donny approaching these issues in an incompetent manner is what caused the farmers to lose market share. Your reluctance to lay blame at Donny's feet is somewhat disturbing.

And with a valid reason.

This doesn't change the fact that you never rag on republics. Here you are again trying to twist the conversation.

Deregulation 

In 1999, the Gramm-Leach-Bliley Act, also known as the Financial Services Modernization Act, repealed the Glass-Steagall Act of 1933. The repeal allowed banks to use deposits to invest in derivatives. Bank lobbyists said they needed this change to compete with foreign firms. They promised to only invest in low-risk securities to protect their customers.

The following year, the Commodity Futures Modernization Act exempted credit default swaps and other derivatives from regulations. This federal legislation overruled the state laws that had formerly prohibited this from gambling. It specifically exempted trading in energy derivatives.

Who wrote and advocated for passage of both bills? Texas Senator Phil Gramm, Chairman of the Senate Committee on Banking, Housing, and Urban Affairs. He listened to lobbyists from the energy company, Enron. His wife, who had formerly held the post of Chairwoman of the Commodities Future Trading Commission, was an Enron board member. Enron was a major contributor to Senator Gramm’s campaigns.

https://www.thebalance.com/what-caused-2008-global-financial-crisis-3306176

Odd that Dodd and Frank aren't spelled Phil Gramm, but, yeah, it was Dodd and Frank that caused the financial crisis.

omg, can you imagine Booty Judge negotiating with Xi? Talk about bending over... ) ? No thanks.

And no thanks to thinly-veiled homophobia.

See? There you go.

Yes, I did see a post that was absolutely irrelevant to Donny being responsible for farmers losing market share.

The U.S. has collected $63 billion in tariffs from China since June 2018. Oh my!

This gave me a good laugh - thanks! :-)

He wouldn’t have to dole it out if the last three previous presidents wouldn’t have allowed China to get away with taking advantage of us, the last three presidents are the ones that screwed the people especially the farmers.

The last three presidents did not start a trade war through their incompetence. Try again.

Sorry, I lump in both parties for putting the country in this mess.

Yet, somehow we only read you ragging on the democrats.

No, I just respect that he’s a non-partisan on this issue and knows exactly and supports what this President is doing.

Flip-flop.

One year, five months, eleven days left to go. I hope we make it.

There are so many things that need to be addressed, and this guy is not doing anything at all to work on most of our problems. When it comes to global warming, he doesn't even admit that it is happening. When it comes to rampant racism, he is part of the problem, not the solution. On trade, well, we've seen how little he knows about trade. Thanks Putin, it wouldn't have happened without you.

This is a case where when you manipulate you’re not a manipulator. When you don’t manipulate, you’re called a manipulator

Buy gold.

Well some good advice to all is to save your money, not in banks as they are subject to not giving money if a crash happens. Trump and the GOP of the USA are starting a currency war just like the tariff war he has initiated. farms are going under, manufacturing going under. Stocks are tumbling

Buy Gold and Silver if your smart.

Remember it is the consumers that pay for these taxes. Not the country they are placed on.

As a “short term” safety net, that’s right.

aka socialism is bad when Democrats use it ,eg affordable healthcare for the poor, but perfectly fine when the Republicans use it to buy votes.

I think JT mentioned an article once showing a Japanese study that rare earth metals are more abundant from the ocean floor so that might be the way to go to divest from China

So, for those that bash Trump and the trade war, what would you do about China?

It's funny how many of the same people who laud Abe for standing firm against Korea, somehow cannot say the same about Trump and his stance on China.

So......this is a case of Maduro bad, trumpo good?

Toasted Heretic:

Trump is the establishment.

... then why does the warmongering globalist establishment hate him?

From my point of view, Trump represents the position of the traditional business democrats. From before the time that the lunatic fringe took over the democrat party. Call it establishment if you will, I call it sanity.

Also, prediction: China will meddle in the 2020 US elections to get a Democrat in office.

China is in a very weak position and soon will be grasping for straws. What Trump is doing should of been done years ago but dummies, like are posting here, could not see or did not care, to do it. The US is in the strong position for the first time in many decades.

The last three presidents did not start a trade war through their incompetence. Try again.

No they allow China to take advantage of the US market and consumers and the entire government.

Yet, somehow we only read you ragging on the democrats.

And with a valid reason.

Flip-flop.

...and suntan lotion.

Just don't do any research on this or you'll ruin the storyline.

https://reason.com/2012/09/14/obamas-highly-misleading-claim-about-pri/

I feel just fine actually.

I could imagine Mayor Pete negotiating with Xi. Xi is by all accounts an extremely intelligent man, as is Mayor Pete.

If Mayor Pete is so intelligent, why is he so unpopular with his town's police force and why isn't he the Democratic front runner?

I’d go as far to say they are even smarter than Tucker Carlson, Judge Jerky or disheveled nutters in basements on YouTube.

I'd go as far to say he ain't.

I can actually see him talking to quite a few leaders of other nations; and in their own language given he speaks Norwegian, Spanish, Italian, Maltese, Arabic, Dari, and French.

That's what we need in a president - someone who speaks Norweigian, Spanish, Italian, Maltese, Arabic, Dari and French! Hahahahahahahahahahahah

Thanks for the knee slapper, lincoln!

This is a manufactured crisis, plain and simple.

The US and China have a symbiotic relationship; if one's economy tanks, so does the other. What we're seeing is just tit for tat and Trump trying to expose China's global ambitions. Japan fans should be happy that a US president is doing that, regardless of their personal feelings for the person in office.

Currency manipulation is only one of the issues. Try being a western company opening a subsidiary in China.

I bet China is praying now that any Democrat beats Trump, though they prefer Biden.

Corporate welfare, subsidies for big energy, socialism for the rich, has been going on for a long time.

Not the same as in using tax payer funds to pay for lavish entitlements on people from cradle to grave. We have over 320 million people, there is no way we could ever cover that many people and the majority of Americans don’t want the government anywhere near care healthcare, we have already seen enough of Obamacare to know that it’s just all a bunch of crock.

And the super-rich are paying less in taxes while they're getting subsidized thanks to Trump,

Thank God for that and they are creating the jobs as well, look at the unemployment rate it’s one of the lowest ever, so if you over tax them, less Hirees, less scheduled hours, less money, less advancement opportunities. But I understand Democrats don’t create jobs in the private sector they create bigger government jobs.

Moscow Mitch. Leningrad Lindsey and the GOP. The working and middle class are paying more to benefit Trump's pals.

Not trumps Paul’s, the majority of rich people in the country right now are rich liberals, and that includes Hollywood and that includes the tech industry, Democrats have completely forgotten the middle class, if they cared, then they wouldn’t talk stupid nonsense about giving healthcare to illegal aliens and they would get rid of sanctuary cities and they would tighten the borders and lower taxes, another reason why so many middle-class people are leaving states like California and New York

Trump's ongoing bumbling is probably the best thing that's happened to China

Really! Then why are the Chinese complaining so loudly about Trump's policies?

So you are a fan of short-term socialism.

Not really.

I’m guessing you aren’t a fiscal conservative.

I am.

Hey, I was just trying to understand what you said

But you never listen, relax please.

you approve of temporary SOCIALIST

Yes, I do and it could be any other President. I don’t want the farmers to starve in the meantime and suffer for the mistakes of the last 3 Presidents.

He's not a Socialist President?

He’s not Bernie, Thank god....

Are you kidding? They want Dimwit Donnie - so easy to trick and manipulate.

If that’s so, then 19 angry Democrats, 40 FBI agents, 16 Republicans, 1 Very off putting Hillary Clinton, a corrupt cop and a Partridge in a pear tree, none of these bozos could trick or manipulate him, so no, I’m definitely not kidding.

yeah, it was Dodd and Frank that caused the financial crisis

Dodd-Frank imposes huge new regulatory costs, while sending this message to the financial industry: don’t take risks. Banks have had to substitute compliance officers for lending officers. As a result of this counter-productive mountain of a law (over 360,000 words), there is today much less investment capital available for entrepreneurial activities and small business growth, both of which are crucial to our economic vitality. Dodd-Frank is a considerable part of the federal drag that has kept the economy’s recovery from the bubble so sluggish.

Wallison has plenty of company in arguing that Dodd-Frank was a terrible move in the wrong direction. Independent Institute scholar Vern McKinley and Hester Peirce of the Mercatus Center recently wrote on Forbes that Dodd-Frank is “a bigger ticking time bomb than Obamacare itself.” Peirce is one of the co-authors of Dodd-Frank: What It Does and Why It’s Flawed, another in-depth analysis of the severe, unintended consequences of a law passed just so Obama and the Democrats in Congress could say, “See, we’ve done something about the bubble problem!”

This just in from the U.S. Treasury Department -

The U.S. has collected $63 billion in tariffs from China since June 2018. Oh my!

Not the majority of voters, though. Serrano, what changed your mind between 2012, when you said the electoral college should be abolished, and today, where you think it is sacrosanct?

Had to go all the way back to 2012, did you, Sneezy? lol

Yeah, I came to realize the wisdom of our Founding Fathers. It can't be denied that the Electoral College saved us from the disaster that would have been a Hillary Clinton presidency.

OK, here you say "No"...these are not socialist policies...

I think you misunderstand, what I was referring to was The overall implementation of socialism, in the context of it being temporary and to help the farmers, I find it OK. Now if you want to radicalized and change the entire system to a socialist system, then I will oppose it vehemently.

Short term socialist policies....

Exactly, “short"

Then why is he implementing (short term) socialist policies?

You want the farmers to starve? Typical!

I assume you would agree that we can then call him a "short term socialist?"

Liberals can call the president whatever they want to, they call him so many names it’s hard to follow, but whatever makes them happy, go for it, no sweat off of his or my back.

The Trump haters here make me laugh. China has been taking us for a ride for decades, we finally have a president standing up to this. Are there going to be bumps? Of course. But to go back to the status quo ( Biden/Harris/Warren/Sanders/Booty Judge- omg, can you imagine Booty Judge negotiating with Xi? Talk about bending over... ) ? No thanks.

MAGA, Baby!

So you approve of the bailouts under Bush and Obama.

No, I did not. But under a bush it was necessary to try and help those people because of the mess that Chris Dodd and Barney Frank made.

That did not cause farmers to lose market share.

They did.

China's economy depends significantly on its exported goods. By devaluating its currency, the Asian giant lowered the price of its exports and gained a competitive advantage in the international markets. A weaker currency also made China's imports costlier, thus spurring the production of substitute products at home to aid the domestic industry.

Washington was particularly incensed because many U.S. politicians had been claiming for years that China had kept its currency artificially low at the expense of American exporters. Some believed that China’s devaluation of the yuan was just the beginning of a currency war that could lead to increasing trade tensions.

Consistent with Market Fundamentals 

Although a lower-valued yuan does would give China somewhat of a competitive advantage, trade wise, the move was not totally counter market fundamentals. Over the past 20 years, the yuan had been appreciating relative to nearly every other major currency including the U.S. dollar. Essentially, China’s policy allowed the market to determine the direction of the yuan’s movement while restricting the rate at which it is appreciated.

https://www.investopedia.com/trading/chinese-devaluation-yuan/

This doesn't change the fact that you never rag on republics.

I do, but you guys are so focused on Trump, Russia, collusion and all that nonsense, you gloss over the important things many of us try to say.

The establishment absolutely hates Trump. Hes not a career politician so hes in there to actually right wrongs and get things done. The left and the establishment cant stand the very idea of that.

Uhhh . . . Dodd and Frank didn't gut banking regulations,

No, they did much worse.

The roots of this crisis go back to the Carter administration. That was when government officials, egged on by left-wing activists, began accusing mortgage lenders of racism and "redlining" because urban blacks were being denied mortgages at a higher rate than suburban whites.

The pressure to make more loans to minorities (read: to borrowers with weak credit histories) became relentless. Congress passed the Community Reinvestment Act, empowering regulators to punish banks that failed to "meet the credit needs" of "low-income, minority, and distressed neighborhoods." Lenders responded by loosening their underwriting standards and making increasingly shoddy loans. The two government-chartered mortgage finance firms, Fannie Mae and Freddie Mac, encouraged this "subprime" lending by authorizing ever more "flexible" criteria by which high-risk borrowers could be qualified for home loans, and then buying up the questionable mortgages that ensued.

which caused the financial crisis. Hilarious how you want to twist reality to make everything the fault of the Dems, but you claim you critcize both parties. Pure hyperpartisanship.

So, somehow the previous three presidents started Donny's trade war,

I never said that, focus please. I already explained what led up to it.

A cursory perusal of your comments evidence that you rarely, if ever, rag on the republicans. Are you now trying to re-write your own posting history?

That is not true, although you have more liberals that are so emotional, they can’t even read or have a discussion with an opposing viewpoint.

Chinas economic policy has been a non-stop trade war ever since the Maoist regime turned to controlled state capitalism.

The idea that Trump "started" a trade war working to change the paradigm which has massively helped China and enriched some US big tech companies by using slave labour and avoid environmental laws, but at the same time has massively hurt domestic manufacturers and the environment is ridiculous.

Haven't you learned yet that you making predictions is not the best thing?

Given the Democrats history over the last 3 years, I would say, it is.

No. Just like democrats aren't pro-open borders

If that were true, we wouldn’t in this mess now, don’t give me that! Democrats could right now work with the GOP to stop this, but they won’t.

Your hyperpartisanship is transparent.

Ditto

So, for those that bash Trump and the trade war, what would you do about China?

It's funny how many of the same people who laud Abe for standing firm against Korea, somehow cannot say the same about Trump and his stance on China.

Thank you!

Socialism is actually good and cool,

Valenzuela is doing so good with it

while capitalism is bad

My pocketbook, Apple, Google, Yahoo, Facebook, small business people in America and entrepreneurs would vehemently disagree

and is the reason that the human race is destroying the Earth's ecosystem

Blame China.

Getting huge government handouts because their guy, Donny, is incompetent. That's socialism.

Yes, But temporary, so no worries.

Temporary or permanent, it's government handouts: socialism.

We all know that, but that’s not the issue, the issue is that it’s temporary, natural a permanent then I would have a problem with it and I can also deal with it, because it’s not from the cradle to grave socialism.

Hilarious that conservatives conflate socialism with authoritarianism. It speaks volumes about their intellect.

Democrats claim that they are so smart and yet they can’t get any legislation passed, they can’t get their agenda through, they don’t have a single good Democrat that can beat this president, they are so radical that they’ll never get elected again to anything, they tried to get this President and couldn’t get him on anything and they keep failing.

Yeah, it does speak volumes about our our intellects. ROFL!

Sorry, can't understand this;

For the last three years the liberals can’t understand anything, sad thing.

So for the time being, they being assisted by a SOCIALIST policy enacted by Trump...

Temporary.

Not the receiver of the aid - what do you call the President who enacts and supports short term SOCIALIST policies?

The President.

What's SHORT term by the way ? After how many months/years does it become unacceptable ?

Probably till after he wins his second term. But nothing to worry, Chuck Schumer really supports him.

And when it's corporations needing and using government assistance, like the oil corporations, farmers, big defense industries, etc., it's called corporate socialism.

Which is very different son giving individual socialism entitlements from cradle to grave.

Or maybe socialism for the rich. Or Republican socialism.

The very poor in socialist countries get it from cradle to grave and that’s what you were seeing some countries especially Latin America slight downhill, look at what Chavez and Maduro have done and in a very short amount of time.

When it's directed by an authoritarian leader, national socialism.

That’s reason why the Democrats won’t get into power, you just made my point for me.

Liberal/lefty hypocrisy is on full display on this thread.

you bet China is praying for a Dem president in 2020. Sleepy Joe must be their favorite tho any Dem will do!

Temporary socialism handed out by Donny to farmers he screwed is good!

He wouldn’t have to dole it out if the last three previous presidents wouldn’t have allowed China to get away with taking advantage of us, the last three presidents are the ones that screwed the people especially the farmers.

Any handout by democrats is bad!

Sorry, I lump in both parties for putting the country in this mess.

We have a new Schumer fan. It's the short term socialism fan!

No, I just respect that he’s a non-partisan on this issue and knows exactly and supports what this President is doing.

No, I get it - you're saying short term policies that are socialist are sometimes needed, but more general and widespread socialist polices are not. What I'm saying is you can't use socialist as a pejorative term like you often do if you then turn around and say sometimes socialist polices are good and needed...that's hypocritical...

Actually you can end a reason you can’t is because of the implementation of it, so if it is short turn in for something that is necessary in an emergency situation it is perfectly and legitimately OK to use that, but it is not in the context of a system that we don’t use and that is not the standard of this country, now the Democrats want it to be, but that won’t happen.

Yes, short SOCIALIST policies....

Yes, but SHORT term.

What I want is irrelevant -

of course.

the issue is that these subsidies are socialist economic policy - enacted by Trump.

For the time being, but ultimately what these farmers are our capitalist free marketeers.

So what would you call someone that supports short term socialist policies?

A person in need of government assistance.

@Wolfpack,

Exactly right.

Good for Trump - Finally a US president takes the bull by the horns.

Robbing Peter to pay Paul. straight from trump's playbook from his bankrupt NY days. all his supporters need to learn how to read and realize that they're getting took by this crook.

So the Chinese cheat, use mercantilist tactics to gain market share, steal intellectual property, force US companies to give up trade secrets in order to do business in their country, and manipulate their currency to gain an competitive advantage and the US should do - nothing??? Even Democrat Senator Schumer isn’t that stupid.

currency manipulator is not a label, its a fact. that is exactly what they are doing. as I always say, in any dispute the LOSERS howl the loudest. Do you see who is howling here? US saying nothing is wrong and China threatening anarchy. Pretty obvious who will win this one.

"And I will continue my socialist policy of providing government subsidies to those in need..."

As a “short term” safety net, that’s right.

Bernie, Elizabeth and the Squad welcome you to the socialist club Donnie..

No, not at all, because these Democrats what to replace the capitalist system, trump just wants to use that temporary socialist subsidy as a short-term Safetynet big, BIG difference, but

Well, thanks for admitting it - Donnie is implementing socialist polices.

Yes, temporary as a safety net.

He's for subsidizing farmers and he's said he doesn't want to touch Social Security and Medicare - Donnie is "all in" when it comes to socialism. 

It’s a different thing as to implementing something for life long or long term extreme. That’s exactly what you don’t want to have.

He's something new - a melding of both socialism and fascism...

That’s the Democrats playbook

Temporary or not, they're socialist

No, if they were, our system would have been completely overhauled by the Democrats, it hasn’t, it’s all temporary, but the farmers are free traders in a free market, a free capitalist market.

Both are socialist policies

Yes, but temporary, it’s in the word, short time. If I go to watch a Democrat rally, it doesn’t make me a liberal.

Nope, this is Trump's playbook....

After all, Trump’s tariffs are not only a new tax for Americans, but a policy of directly picking winners and losers in the economy. The interests of steel workers, for example, are being placed above the interest of consumers and farmers. This leads to the government using tax dollars to prop up farmers. Of course this spending means that tax-paying consumers are hit yet again, with their tax dollars being used for this new welfare program.

https://mises.org/power-market/trumps-road-socialism

No, short term is fine.

Trump also said in February: Trump: "America Will Never Be A Socialist Country"; "We Were Born Free And We Will Stay Free"

CNN: Dow closes higher after China blinks

Even CNN knows what’s going on for once.

So the Chinese cheat, use mercantilist tactics to gain market share, steal intellectual property, force US companies to give up trade secrets in order to do business in their country, and manipulate their currency to gain an competitive advantage and the US should do - nothing??? Even Democrat Senator Schumer isn’t that stupid.

Bingo?

It’s no doubt hurting both sides, but Schumer thinks Trump should hit China and not let up on them, help the farmers with temporary relief until things stabilize. A report in Market watch about China:

Before the trade war, it was already facing a number of significant challenges, first among them how to effect a transition from its current reliance on cheap manufacturing to the production of higher value-added goods. China’s political stability is also somewhat precarious, as evidenced by recent events in Hong Kong and Xianjing, as well as Chinese leader Xi Jinping’s authoritarian crackdown.

Moreover, China’s economic growth has slowed to a 27-year low of 6.2%. And perhaps more ominously for the country, there are growing signs that foreign companies from America and elsewhere are looking outside China as they expand their sourcing, production and distribution activities.