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Business, Economics, and Taxes: Eat Cereal for Dinner

Bronco said:
I expect when Tokyo opens it will begin a bloodbath. This isn't financial advice.
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Following Trump's announcement, Japanese Prime Minister Shigeru Ishiba said he will continue to demand that the U.S. reconsider its tariff measures.

"Though some market participants are expecting quick deals (with Washington), negotiations could take time," particularly since the White House has targeted non-tariff barriers to trade like VAT, said Norihiro Yamaguchi, an economist at Oxford Economics.

"The equity market is unlikely to bounce back given heightened uncertainties."
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The greatest self-own in American history. Take a bow, MAGAts.
 
I posted this in the Dump thread.
aparch said:
CNBC was HOT about this in the final hour of Squawk Box.

Rick Santoli sounds like he's going to have a stroke here in the last half hour. Rick has been hot about how globalism needs to end, people need to stop buying cheap shit, and companies need to on-shore, profits be damned.

Steve Liesman was much more calm trying to circle the square, and be realistic about what's going to happen, including some eight trillion in US GDP generated overseas by US corporations.

Its difficult to recap the entire exchange I heard on XM on my drive in to work, I'll look a video link later.
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Another item that Liesman got upset and confused by about was how Trump targeted VAT, which in simple terms is a sales tax. Even Joe Kernen was taken aback by that fact. I think it was Liesman who said "New York City charges 8% sales tax, some country charges a 25% vat, it's the same thing." "That's how these countries make their budgets, and Trump doesn't understand."
 
The tariff list was generated by AI and used top-level internet domains rather than an actual list of countries, which is why it includes places with 0 population and separates places like Gibraltar from its territorial owner. (And, indirectly, attacks the "one China" policy by treating Taiwan differently from mainland China, which is sure to make Xi happy).

This is the Federal Government equivalent of the high school freshman who plagiarizes Wikipedia for his social studies report. And it's going to crash the world economy into Great Depression 2: Electric Boogaloo. And Congress is going to sit there with their thumbs up their butt and let it happen.

We really are living in the stupidest timeline.
 
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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Santeilli is on squakbox now???

One of my family members used to make an appearance on SB now and then. I wish they were today to explain exactly what would have happened to their products under the new tariffs
 
Deutsche Gopher Fan said:
Santeilli is on squakbox now???

One of my family members used to make an appearance on SB now and then. I wish they were today to explain exactly what would have happened to their products under the new tariffs
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He's been for a few years, but he's their "we go live to Chicago where Rick's going to read some numbers off a video board, Rick!..."
 
Deutsche Gopher Fan said:
Vroom vroom

Carl Quintanilla (@carlquintanilla.bsky.social)

* U.S. ANNOUNCED JOB CUTS TOTAL 275,240 IN MARCH, RECORD HIGH FOR THE MONTH OF MARCH: CHALLENGER @reuters.com
bsky.app bsky.app
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I think we might see a pivot by some of the media...can't really smooth out the language of what is happening.

As of now all 3 indexes down 3%. Apple and Nike (slave labor duh!) are down around 10% and Tesla doesn 3%. https://www.google.com/amp/s/www.cn...-market-today-live-updates-trump-tariffs.html

Add in a quarter million jobs lost and...oh boy!
 
Handyman said:
I think we might see a pivot by some of the media...can't really smooth out the language of what is happening.

As of now all 3 indexes down 3%. Apple and Nike (slave labor duh!) are down around 10% and Tesla doesn 3%. https://www.google.com/amp/s/www.cn...-market-today-live-updates-trump-tariffs.html

Add in a quarter million jobs lost and...oh boy!
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CNBC's Squawk on the Street just had a segment where Sara Eisen, Carl Quentinilla, and Mike Santoli broke down how bat shit insane the math behind these tariffs are, and referenced the same points you all mentioned here last night.
 
As someone who is familiar with math for my job, I am deeply offended with what the White House passed off as math.
 

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