Today’s entry - I don’t believe new tariffs on sneaker companies will cost the average family $500 a year. The companies are just protecting their profit margins, maybe it's time they look into not helping in 3rd world labor abuse or not profiting so much if that’s not the case.
Bottom Line: You don’t believe it because you’re smart and you’re right. I’m going to walk you through some headlines that are related and will prove a point.
- Trump Slaps SteepTariffson Foreign Washing Machines and Solar ...NYT
- Trump'sTariffson Solar Mark Biggest Blow to Renewables Yet-Bloomberg-Jan 23, 2018
- Trump's Solar PanelTariffDecision Leaves Almost Everyone Unhappy
- In-Depth-Forbes-Jan 24, 2018
- The harm done by America's newtariffs
- -The Economist-Jan 25, 2018
- GOP lawmakers condemn Trump'stariffdecision
- In-Depth-Washington Post-Jan 24, 2018
- Trump's “America First” Policy Could Cripple the US Solar Industry
- New Republic-Jan 18, 2018
Those aren’t new headlines. Those are from January of 2018 when the original Chinese tariffs took effect. What’s happened since then? Well, economic growth has accelerated to 3.3% over the past 12 months. Unemployment has reached a 49-year low with record low minority unemployment and a 3.2% wage growth, best in a generation. Lastly, we've also had new stock market records.
Point is, doomsday was already predicted once with Chinese tariffs and all the US economy did is improve. Now, an improvement from what we’ve experienced isn’t likely at this point but the same MSM outlets that lack any credibility are simply doing what they do, with a wrinkle. What’s really happening is that the Chinese government’s state-run media is the origin of much of the bunk, like $500 shoe cost projections, and our media is so lazy, incompetent, and in bed with anything and anyone opposing the president that they’re literally spreading Chinese-state run media propaganda in this country at will.
It’s outrageous but frankly, what isn’t with the MSM these days? As I recently depicted, forget tariffs for a moment, if there wasn’t any trade with China, no imports or exports, the economic impact would be the loss of 3% of the US economy. Again, the US economy has grown at 3.3% since the Chinese tariffs began in January 2018. In other words, if we never traded again, the US economy would be better than it was before the tariffs imposed on China originally. Once you’ve wrapped your brain around that concept, you'll realize how full of crap these people, propagandists, in our news media really are.
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