by Summary:
An interesting economic trend may be developing.
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
An interesting economic trend may be developing.
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
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Matias Vernengo writes The behavior of the nominal exchange rate between the Brazilian Real and the dollar in 2024
| An interesting economic trend may be developing. |
I think you are dreaming.
no
5 trillion dollars in market value wiped out in the past 3 weeks. Now Greenland can buy the USA.
80% of monies to be allocated in the impending budget proposal will go to red states if GOP gets it thru. Saving my expensive eggs to throw at Tesla factory, also Cohn partnering with EUTESAT to replace Starlink oh happy days, the author of the 2017 tax relief bill now pushing Musk out.
Net result of Trump undoing the 80 year advantage in trade is that with his idiot tarriffs all countries will decouple from USA and trade away from USA. BYD ev car can charge batteries in 5 minutes. This bunch in charge are bigger assholes than the previous admin. I want altruistic treatment of american middle class and poor. Musk DODGE is a joke. You want to save one trillion end all defense service contractors money grab contracts and let the military take control of these services again. They do it better and cheaper.
Companies are overproducing to get ahead of the tariffs. Then they will sell their excess product at higher prices and blame tariffs.
So, have you "repenting" of being the "Apostle of MMT" and now preaching "dribble down" economics?
In March of 2017 at the NRCC dinner, President Trump spoke of the “American Model” of economy, as he put it, and he correctly attributed that Model to George Washington, Alexander Hamilton, and Abraham Lincoln, even though he did incorrectly include Andre Jackson, who shut down Hamilton’s Second Bank of the United States. Yes, Hamilton had already been killed by the time the Second Bank had been chartered, but it was still Hamilton’s institution. It operated according to his instructions from his Reports to the Congress from his time as Treasury Secretary.
As a Presidential candidate in 2016, at a campaign rally in Charlotte, North Carolina, he spoke of the need to restore the 1933 Glass-Steagall Act.
Tariffs are all well and good. They are the original constitutional method for federal government funding. They are part of a comprehensive economic policy, however. Plus, they are a power of Congress, and our executive is utilizing them as foreign policy, like some kind of white glove he can introduce to the faces of foreign leaders as he demands satisfaction.
This program does not resemble the “American Model” of which he spoke early in his first term. There is no sign of a reorganization of our Federal Reserve System into a Hamiltonian bank. There is no indication of movement toward a restoration of the 1933 Glass-Steagall Act.
There is some indication that there may be effort underway to re-introduce a gold-reserve standard to replace the floating-exchange rate system, in effect a reversal of the 1971-73 moves which took a wrecking ball to the 1944 Bretton Woods agreements.
If – and that’s a big if – that happens, then I will begin to believe that Donald Trump both knows what he is doing and has the potential to pull it off.
Until then, this looks like a looting of the Treasury in the end-stage of the bankruptcy of the republic.
Game, set, match – B r i t i s h E m p i r e.
Thank you for your perspective and presentation, sir.
😂
The business community wants stable and predictable environment. So far Trump hasn't provided this. No companies are going to invest capital stateside when tariffs are on and off depending on DTs mood that day.
or maybe corporate welfare is being applied?
Ford MOTOR company stated 2 of its factories to be moved out of the USA because it cannot afford to continue in the USA.
is this guy an economist? so there are dormant factories that's just lying around ready to be transformed by the tooth fairy heh lol
Thx for the insightful vid Mike!
I have to wonder if national firms are going to expand production knowing that the next administration could simply remove any tariffs that were put on🤷
MMT economist to boot heheh voodoo economics
lol China is buying tons of gold, is why the prices are high
China, Japan and euros are dumping UST, in order to buy gold. So all that money printing will be worth toilet paper heh
hey Mike. I remember you from about 10-15 years ago on cnbc. you just popped up on my feed.
I hope your health is good.
In order for a company to move a plant from Mexico, Vietnam or China… to the US, the tariff on the goods they sell has to be way higher than 25%. The tariff has to overcome the difference in the marginal cost of labor, the cost of building a new plant in the US as well as taxes (tariffs on imported raw materials), benefits etc. less savings on transportation costs. In most cases the tariff would have to be at least 200% possibly up to 400% for a company to be motivated to go to that effort.
Now there may be a bunch of companies promising to create factories in the US, but that's a 3 card monte game that's been played for 40 years. Until the factory is actually built and the employees hired and performing manufacturing in the US, then it's all baloney.
Wait, the u.s power doesn't come from manufacting, it comes from the Dollar. You might have a small increase in manufacturing but that will not save the ums economy. BRICS has caught up and will overtake the dollar in a few years. Manufacturing will fail because you dont have the labor, resource, discipline plus $37 trillion debt. Is not sustainable if other countries dont use the dollar