- cross-posted to:
- usa@lemmy.ml
- politics@beehaw.org
- cross-posted to:
- usa@lemmy.ml
- politics@beehaw.org
cross-posted from: https://beehaw.org/post/19241243
Waving a big chart as a prop in the White House Rose Garden, Donald Trump suggested his new tariff plan was simple: “Reciprocal – that means they do it to us, and we do it to them. Very simple. Can’t get simpler than that.”
Perhaps a bit too simple. The method used to calculate the most important numbers in international trade, politics and economics has left some of the world’s leading experts shocked.
For each country, the White House looked up its trade in goods deficit for 2024, then divided that by the total value of imports. Trump, to be “kind”, said he would, however, offer a discount, so halved that figure. The calculation was even distilled into a formula.
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“[It is] quite an extraordinary calculation after months of work behind the scenes,” said Jim Reid, the global head of macro research at Deutsche Bank. “[It] didn’t add much confidence on there being an in-depth strategic implementation plan.”
lol. First of all Deutsche Bank, how are you still operating, and secondly it’s your fucking fault the demented rapist is even here (thanks to Justice Kennedy’s son). Thirdly, anyone who thinks a trump administration effort is going to have an “in-depth strategic plan” is smoking crack. (Those of you arguing ‘project 2025’ remember that came from outside the administration)
That’s what happens when you let an unqualified lunatic make decisions about things he doesn’t understand
Fuck this piece of shit.
And you made him president again not mentioning how he was even able to rise so high in power.
United Stupids of America
Hey, he used the good crayons
Whoever did those calculations (and it wasn’t Trump, since he’s innumerate as well as illiterate) based these crude calculations on the assumption that the US economy should have a pairwise zero current-account balance with every country in the world. That’s beyond imbecilic.
+10%
Unless you are Russia…
The only thing that surprised me about the idiotic numbers was that they weren’t overwritten by even dumber ones in sharpie.
Chat, are we cooked? (Yes)
Mentally, this is where I am at: https://youtu.be/rN6fcu1qCcw
Merely watching that guy “dab” was worth it. And he did it three times!
The economists are only “stunned” because they’re used to dealing with logic, reason, and numbers that make sense. You have to throw those things out the window when dealing with Mango Mussolini, folks!
The thing that makes no sense to me is… who is actually making those calculations?
It sure as hell isn’t trump, I doubt his ability to understand what a trade deficit is.
Is he even capable of describing his goal to someone in a useful way such that they could come up with the calculations?
The dude majored in economics and very clearly does not understand how a trade deficit works.
He barely passed an undergrad econ degree at Wharton. Wharton’s MBA program is well-regarded, its undergrad program was, at that time, barely selective.
It’s literally chatgpt, or one of the other AIs. They’re all spitting out the same nonsense.
I mean vaguely plausible except that I don’t think ChatGPT could do anything with what trump could ask it.
And honestly ChatGPT would probably come up with a much much more sane policy than this one
‘Willing sycophants’ came up with simplistic formula that has thrown global economy into disarray
Way to shoot us in the crotch republiQans and eligible non-voters! You suck!
B-but muh egg prices! Also, something something okay with the economy crashing if it owns the libs.
The trump regime was designed to TANK the US economy so that stocks, businesses, and industries can be bought by billionaires at rock bottom prices.
All is going according to plan.
This is nonsense that gets spread way too often. The wealthy benefited from Covid, but they did not benefit from the Great Depression. The billionaires are shortsighted hoarders who can’t help but screw themselves over in their race to the
topend. They really are so fucking stupid and greedy that they will crash the economy by accident, AGAIN.They are also designed to give Trump leverage over companies and countries.
It is kind of seeming like this. Anyone who has a ton of cash on hand can get amazing deals on assets. Trump has said as much.
“Make America Wealthy Again”
Tariffs don’t charge the foreign entity
American companies pay the tariffs
The “America” being made wealthy must mean the government
The same government that isn’t paying out to USAID, researchers, or anything else DOGE plugged
Less money out, more money in.
This will be remembered as the largest migration of money between classes in US history.
Odd (not at all) that Russia is not included. I know that we lot do about $3.5 billion in trade with them but some places that we hit with tariffs are not even inhabited.
