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Business, Economics, and Taxes: Eat Cereal for Dinner

Oh thank god, there's a well thought-out plan here to make everything work. And here I just thought they were spouting out randomly bullshit. https://thehill.com/business/5236250-trump-tariffs-economic-recovery/

Treasury Secretary Scott Bessent said the Trump administration is planning to boost U.S. manufacturing employment with policies meant to steer laid-off federal workers into factories.

In an interview with Tucker Carlson published Friday on the social platform X, the Treasury secretary said he believed the U.S. had enough workers to fill thousands of manufacturing jobs Trump hopes to create through steep import taxes.
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aparch said:
Here's after Rick Santelli sounded like he was going to stroke out.

DJ Koessler (@djkoessler.bsky.social)

Wow — CNBC's @steveliesman.bsky.social to Rick Santelli on Trump's tariffs: "I think the people who used to talk about economic freedom are suddenly talking about something a little different ... More government intrusion into the decision making of both consumers and businesses."
bsky.app bsky.app
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Literally nothing he has ever said has been right. Not once.
 
aparch said:
It is not. The US price pre-April 2nd ($450 base / 500 with Mario Kart) were right in line with EU and UK pre-order pricing.

With the April 2nd tariffs along with the retaliatory tariffs from China today, base US price would be north of $600.


*EDIT*
Switch 2 production is done in Vietnam, which is currently under the 4/2 tariff of 46%.

Base system would be $656.98, with game bundle $728.98.

The Vietnam leader did make a call to Trump to try to negotiate the tariff rate to be lower. Originally, pre 4/2, Vietnam tariff'd US goods at 9%.
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This is before sales tax as well. 715ish in MN
 
unofan said:
The video game industry is interesting because the sticker price for a AAA game hasn't really changed much in 40 years, so in real terms they're way cheaper today than they used to be. A new NES, SNES, or Sega Genesis game in the 80s and 90's was normally $40-$60. The occasional full-length RPG like Final Fantasy might have been $70. With inflation, that works out to about $100-$150 in today's dollars. So I get why studios struggle and why there's all the paid add-ons and Day 0 DLC and all that, they gotta pay for the development somehow. The broader game-playing base fills some of that gap, but as a mature industry it can no longer account for continued customer-growth.

Mobile games and FTP micro-transaction oriented games only further encourage the low sticker price with the premise of making it up on the backend.
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Yup! I wish they would raise the price of these games and actually make them good. But we all know that would just go into shareholder pockets.
 
Handyman said:
Well now he is embracing the ridiculous take that he is crashing the market "on purpose" to screw over the rich, weaken the dollar and force the Fed to lower interest rates. Rolling Stone has a story about it with quotes from Trump people (Newt was one and anonymous rich people as well) who are dumbfounded he would promote that idea.
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The biggest threat right now isn’t the stock market. It’s what happened yesterday despite massive intraday losses: the bond markets saw yields go up. Normally yields go down when stocks go down.

This is extra double ungood. If this wasn’t a blip, at beat it is a sign of inflation at the beginning of this recession. At worst, it’s a flight of capital from the US. This would be devastating to the country. It would be the end of the last 80 years of hegemonic rule by the US. And while I have said that’s probably good, there are also some benefits to a single superpower. Plus who knows what happens when other superpowers are on equal footing. The US was probably ever so slightly on the positive side of good vs evil. The downside here is such worse.
 
dxmnkd316 said:
The biggest threat right now isn’t the stock market. It’s what happened yesterday despite massive intraday losses: the bond markets saw yields go up. Normally yields go down when stocks go down.

This is extra double ungood. If this wasn’t a blip, at beat it is a sign of inflation at the beginning of this recession. At worst, it’s a flight of capital from the US. This would be devastating to the country. It would be the end of the last 80 years of hegemonic rule by the US. And while I have said that’s probably good, there are also some benefits to a single superpower. Plus who knows what happens when other superpowers are on equal footing. The US was probably ever so slightly on the positive side of good vs evil. The downside here is such worse.
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Exactly what I was worried about a week ago and no one in Washington listened to me. It’s a huge deal but won’t get much attention beyond CNBC and Bloomberg.
 
Considering intellectual capital is fleeing the country it should surprise NO ONE that financial capital is fleeing the country.

Bye bye.

Like I stated in another thread. We're Hungary but with dumber and meaner leadership.
 
dxmnkd316 said:
The biggest threat right now isn’t the stock market. It’s what happened yesterday despite massive intraday losses: the bond markets saw yields go up. Normally yields go down when stocks go down.

This is extra double ungood. If this wasn’t a blip, at beat it is a sign of inflation at the beginning of this recession. At worst, it’s a flight of capital from the US. This would be devastating to the country. It would be the end of the last 80 years of hegemonic rule by the US. And while I have said that’s probably good, there are also some benefits to a single superpower. Plus who knows what happens when other superpowers are on equal footing. The US was probably ever so slightly on the positive side of good vs evil. The downside here is such worse.
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Well lets put it this way...MTG put a bunch of money in bonds right before "Liberation Day" and Andrew Ross Sorkin yesterday on CNBC basically accused members of Congress of insider trading. If you know what you are looking for you know exactly what it is going on.

(basically your fears are 100% correct)

Capital is leaving (actually you could argue it is being forced out) and heading East whether to the EU or China. And if Trump keeps up his war with China we will be lucky to only get a massive recession out of it. And if they dare threaten the Income Tax...
 
aparch said:
If only we had a real world trial to be a canary in the coal mine for how bad this can get.

Biggest takeaway I had from reading various articles about Calgary's experiment was pediatric care exploded because infections in the mouth could get into the blood stream and migrate to the surgical site causing way worse complications.

An ounce of prevention is worth a pound of cure.
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Everywhere this has been tried has lead to disaster. Even in adults it leads to a massive rise in disease. Especially in the rural areas and the poor.
 
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