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And Trumps proposed tariffs will only accelerate price increases[0] It’s clear it has support from rank and file republicans as well, it is more than feasible

And Trumps proposed tariffs will only accelerate price increases[0] It’s clear it has support from rank and file republicans as well, it is more than feasible that if republicans win the house too we will see tariffs in short order [0]: https://www.reuters.com/markets/us/trumps-new-tariff-proposal-could-cost-americans-78-bln-annual-spending-nrf-study-2024-11-04/ https://www.reuters.com/markets/us/trumps-new-tariff-proposa...

mastax 2y ago
The president has huge amounts of executive authority over tariffs. I don’t know where the boundaries are but I wouldn’t be surprised if we saw huge tariff increases in the first hundred days.
- greentxt 2y ago
  Right. You would want to do it immediately so that initial hits to economy can be claimed as belonging to Biden. And then you can cut the tarrifs and make things improve.
  - vundercind 2y ago
    Nah, he’ll make the Fed a political appointment and goose the economy that way, already seemed pretty annoyed that he didn’t have direct control of it last time and seemed to partially blame that for his loss. His voters will ignore the resulting inflation, say it’s awesome, and you won’t be able to convince them otherwise maybe until the really bad crash on the other side.
    - MisterBastahrd 2y ago
      Even worse, he'll throw gasoline everywhere just like he did last time and throw the match right before he leaves the room. Fuel prices and the Afghanistan withdrawal were both done specifically with that in mind.
      - vundercind 2y ago
        Afghanistan is one of those cases where I strongly agree with the idea (and with his pushing back on DoD crying about how it’d take a really long time to pull out the troops and equipment—I get it’s landlocked but it’s a small force, you control the air, and resistance on the ground is near-zero, so if that’s super-hard for you, guess you’re bad at a really basic part of your job and we should be very concerned) but absolutely hate the inept execution, like the dumb-shit bargain with the Taliban. Cracking down on Chinese cheating on free trade is another—yes, more of that, but be less shit about it please?
ericd 2y ago
It will almost certainly accelerate inflation, but won’t it also give domestic manufacturing workers hurt by globalization a lot more demand for their work, and leverage to increase their wages? It seems like the main people hurt by this would be the upper middle class and above, the execs, designers, and managers who’ve directly and indirectly managed large international teams of laborers working at low rates, as they’ll get hit by the inflation, but see no additional demand/leverage to increase their wages. They’re the part of the bimodal wealth distribution that has until now done very well by globalization, and I think this election is largely a reaction by the other mode.
- no_wizard 2y ago
  It hurts everyone, the price shocks will be felt for years, and any gains that can be made won't matter. Wage gains won't keep pace with any price increases either, Republican's have already outlined policies that are regressive to average Americans[0][1] About the only thing tariffs will do is consolidate power at the top and allow the largest corporations to buy out smaller ones that can't cope as well. We are remember, talking about broad spectrum tariffs here, which will hit any import, from food to solar panels. [0]: https://www.jec.senate.gov/public/_cache/files/32a303df-1977-4870-8332-cb75029c64c9/how-project-2025-s-economic-policies-hurt-the-middle-class.pdf https://www.jec.senate.gov/public/_cache/files/32a303df-1977... [1]: https://www.usatoday.com/story/money/2024/10/30/trump-reduced-access-to-overtime-project-2025-would-go-further/75795188007/ https://www.usatoday.com/story/money/2024/10/30/trump-reduce...
  - ericd 2y ago
    That JEC doc doesn’t seem to mention tariffs? Yes, prices will rise, the question is whether it will increase their leverage in the job market enough to boost their earnings enough to counteract the higher prices.
    - no_wizard 2y ago
      my point with the JEC wasn't about tariffs its about Republican policies that show that "will it increase their leverage in the job market enough to boost their earnings enough to counteract the higher prices" is fantasy The highest levels of leadership of the Republican party have shown time and again that they want a permanent poor underclass through their policies (both enacted and proposed) and actions. There's no sense in speculation here, if they can put the boot on labors neck, they will 100% of the time

mastax 2y ago

The president has huge amounts of executive authority over tariffs. I don’t know where the boundaries are but I wouldn’t be surprised if we saw huge tariff increases in the first hundred days.

greentxt 2y ago
Right. You would want to do it immediately so that initial hits to economy can be claimed as belonging to Biden. And then you can cut the tarrifs and make things improve.
- vundercind 2y ago
  Nah, he’ll make the Fed a political appointment and goose the economy that way, already seemed pretty annoyed that he didn’t have direct control of it last time and seemed to partially blame that for his loss. His voters will ignore the resulting inflation, say it’s awesome, and you won’t be able to convince them otherwise maybe until the really bad crash on the other side.
  - MisterBastahrd 2y ago
    Even worse, he'll throw gasoline everywhere just like he did last time and throw the match right before he leaves the room. Fuel prices and the Afghanistan withdrawal were both done specifically with that in mind.
    - vundercind 2y ago
      Afghanistan is one of those cases where I strongly agree with the idea (and with his pushing back on DoD crying about how it’d take a really long time to pull out the troops and equipment—I get it’s landlocked but it’s a small force, you control the air, and resistance on the ground is near-zero, so if that’s super-hard for you, guess you’re bad at a really basic part of your job and we should be very concerned) but absolutely hate the inept execution, like the dumb-shit bargain with the Taliban. Cracking down on Chinese cheating on free trade is another—yes, more of that, but be less shit about it please?

ericd 2y ago

It will almost certainly accelerate inflation, but won’t it also give domestic manufacturing workers hurt by globalization a lot more demand for their work, and leverage to increase their wages? It seems like the main people hurt by this would be the upper middle class and above, the execs, designers, and managers who’ve directly and indirectly managed large international teams of laborers working at low rates, as they’ll get hit by the inflation, but see no additional demand/leverage to increase their wages. They’re the part of the bimodal wealth distribution that has until now done very well by globalization, and I think this election is largely a reaction by the other mode.

no_wizard 2y ago
It hurts everyone, the price shocks will be felt for years, and any gains that can be made won't matter. Wage gains won't keep pace with any price increases either, Republican's have already outlined policies that are regressive to average Americans[0][1] About the only thing tariffs will do is consolidate power at the top and allow the largest corporations to buy out smaller ones that can't cope as well. We are remember, talking about broad spectrum tariffs here, which will hit any import, from food to solar panels. [0]: https://www.jec.senate.gov/public/_cache/files/32a303df-1977-4870-8332-cb75029c64c9/how-project-2025-s-economic-policies-hurt-the-middle-class.pdf https://www.jec.senate.gov/public/_cache/files/32a303df-1977... [1]: https://www.usatoday.com/story/money/2024/10/30/trump-reduced-access-to-overtime-project-2025-would-go-further/75795188007/ https://www.usatoday.com/story/money/2024/10/30/trump-reduce...
- ericd 2y ago
  That JEC doc doesn’t seem to mention tariffs? Yes, prices will rise, the question is whether it will increase their leverage in the job market enough to boost their earnings enough to counteract the higher prices.
  - no_wizard 2y ago
    my point with the JEC wasn't about tariffs its about Republican policies that show that "will it increase their leverage in the job market enough to boost their earnings enough to counteract the higher prices" is fantasy The highest levels of leadership of the Republican party have shown time and again that they want a permanent poor underclass through their policies (both enacted and proposed) and actions. There's no sense in speculation here, if they can put the boot on labors neck, they will 100% of the time