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Business, Economics, and Taxes: Eat Cereal for Dinner

aparch said:
I posted this in the Dump thread.


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."
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Tim Onion (@bencollins.bsky.social)

It's great TV watching these CNBC analysts realize there is no "theory" on TV in real time and they can't even invent one. One just said "They're burning down the house to cook a steak." There's a phone ringing off the hook in the background no one's picking up. It's chaos, I recommend it.
bsky.app
 
Handyman said:

Tim Onion (@bencollins.bsky.social)

It's great TV watching these CNBC analysts realize there is no "theory" on TV in real time and they can't even invent one. One just said "They're burning down the house to cook a steak." There's a phone ringing off the hook in the background no one's picking up. It's chaos, I recommend it.
bsky.app
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CNBC has absolutely been worth the watch today. I'm afraid they're gonna run out of steam for this by Power Lunch.
 
bsky.app

BrokenBanker (@brokenbanker.bsky.social)

let's review the wealth destruction in sycophantic tech CEO land, shall we ? picture below as a reference tool from the Inauguration: AAPL: -8% today, -18% ytd AMZN: -9% today, -18% ytd GOOGL: -3% today, -20% ytd META: -8% today, -8% ytd NVDA: -5% today, -22% ytd TSLA: -6% today, -34% ytd
bsky.app
 
aparch said:
CNBC has absolutely been worth the watch today. I'm afraid they're gonna run out of steam for this by Power Lunch.
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I don't have access to it or I would be. Watching those clowns fellate Trump all last year I need to watch them suffer!
 

Alan Ohnsman (@alanoh.bsky.social)

NEW: The Tesla Cybertruck is a target of anger over Elon Musk’s DOGE-MAGA activities. But by every measure it’s also Elon’s Edsel, ranking as one of auto industry’s biggest flops #electricvehicles #Tesla...
bsky.app

Forbes with that Woke Mind Virus!
 
aparch said:
View attachment 311
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Yup, exactly what I've been saying. Listen, if you felt bringing (nearly all) manufacturing back to the US was the most important thing, you would need a comprehensive set of legislation both on tariffs and on all of the other economic policies around that to not only encourage building factories but making sure all of the supply chain, transportation, power, ports, etc. were all in place to handle this massive change of how things move about the country and the economy, and this would all need to be carefully considered and planned with a 10-20 year horizon, if not even longer. There would still be a great argument about why you should not do any of that, mind you, but if you bothered to take the time to work out all of those details and take the effort to get it all into place I could at least respect you for following through on your vision and doing all of the legwork. But screaming different random tariffs into existence one week only to completely change your mind the next, without the slightest concern to all of the other details, is not doing that. No even-remotely-sane business leader is going to spend several years building $10-$100M worth of facilities, which would only pay off if it operates economically for decades, on decisions that change several times a month.
 
There is a clown (former CEO of Toys 'R Us) on CNBC saying that all those retail companies that are being raped by the Vietnam tariffs can move manufacturing back here and make it work in 1-2 years. CNBC has the dumbest guests and the hosts are in full on cope mode...
 
Handyman said:
There is a clown (former CEO of Toys 'R Us) on CNBC saying that all those retail companies that are being raped by the Vietnam tariffs can move manufacturing back here and make it work in 1-2 years. CNBC has the dumbest guests and the hosts are in full on cope mode...
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Its the best "work safe" comedy I can have on in my office over the winter. 😂😁
 
Handyman said:

Justin Baragona (@justinbaragona.bsky.social)

CNBC's Steve Liesman doesn't mince words about the way the White House calculated its tariff rates: "Nobody ever heard of this formula. Nobody has ever used this formula. So I’m sorry, but the conclusion seems to be the president kind of made this up as he went along... these are off the charts."
bsky.app

This is my new kink...
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The sudden realization that the country is being run by idiots and you helped put them in power.
 
LOL they try to claim the rates are not just (tradeDeficit / exports) by showing what looks to be a more complicated formula with extra variables, but the extra variables cancel out in a way that ends up as (tradeDeficit / exports) in the end.
 
French Rage said:
LOL they try to claim the rates are not just (tradeDeficit / exports) by showing what looks to be a more complicated formula with extra variables, but the extra variables cancel out in a way that ends up as (tradeDeficit / exports) in the end.
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I saw that...I'm math dumb but even i got it!

Speaking of math:

James Downie (@jamescdownie.bsky.social)

Yale Budget Lab: – Price increases from latest tariffs: "average per household consumer loss of $2,100" – Price increases from all of Trump's tariffs: "average per household consumer loss of $3,800" – "US real GDP growth is -0.9% lower from all 2025 tariffs."...
bsky.app
 
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