4 ms·

It's simple incompetence. The whole lot are economically illiterate. Musk is out there talking about the US going bankrupt. Trump is saying other countries will

by mempko 2y ago

It's simple incompetence. The whole lot are economically illiterate. Musk is out there talking about the US going bankrupt. Trump is saying other countries will pay for the tariffs. It's mind numbing. This is why you can't have business people running a country. A country is not like a business or a household.

philk10 2y ago
or have people that played business people on TV shows...
- gsanderson 2y ago
  This. He was playing a character. People think it was a documentary.
JumpCrisscross 2y ago
> Musk is out there talking about the US going bankrupt Musk is particularly dark—he was born in South Africa. He knows how this winds up. Yet he seems adamant to recapitulate the ANC’s corrupt playbook.
- pfisherman 2y ago
  Simple explanation. Musk has lost it. His long term drug (ketamine) use has resulted in a psychotic break, which we are watching play out publicly.
ajross 2y ago
Exactly. And the clear proof is the ridiculous dance around tariff policy. Tarrifs were a clear fait accompli, promised in the campaign and scheduled the moment the administration took office. Then the market tanked right as they were about to take effect. Then there was a delay! Then they were only going to apply to goods not covered by NAFTA^H^H^HUSMTC! Which is all goods, basically. So no tariffs. Except they're still on the books. That's not a rationalist trade policy. At its most charitable, it's a failed attempted at brinksmanship. More likely it's just not understanding how markets work and in particular how that is reflected in the stock market (which, if not "rationalist" per se, is a lot more so than the administration). Incompetence either way.
gadders 2y ago
Canada imposed tariffs on China last year [1]. Is that incompetence as well? [1] https://www.canada.ca/en/department-finance/news/2024/08/canada-implementing-measures-to-protect-canadian-workers-and-key-economic-sectors-from-unfair-chinese-trade-practices.html https://www.canada.ca/en/department-finance/news/2024/08/can...
- iAMkenough 2y ago
  Canada imposed targeted tarrifs on certain Chinese products, increasing their cost for Candadian consumers to level the playing field. China didn't pay Canada a dime. The United States on the other hand is planning a blanket tariff with certain carveouts, and the current administration seems to believe it will be foreign countries paying the United States as a result. When in reality, it will be American consumers and business owners paying 100% of the tariff costs. That is incompetence.
  - gadders 2y ago
    The tariffs are for different purposes. Canada's tariffs were to prop up their automotive industry. America's tariffs are to encourage nations to so more to stop importing illegal drugs into the US.
    - iAMkenough 2y ago
      That doesn't make sense. How does charging American consumers and businesses an additional 25-50% tax on purchases and imports accomplish that?
      - gadders 2y ago
        Because people will stop buying products imported from those countries, and buy from their competitors instead.
        iAMkenough 2y ago
        If the goal is really to increase law enforcement along the borders, this still does not make sense. There aren't really domestic competitors for much of the imported materials used to create American products, so the foreign suppliers have the upper hand in the "deal" since Americans are reliant on them and do not have their own competitors in place. To me this appears to be more about the federal government charging the majority of Americans more in taxes, to pay for the deficit being created by tax cuts for the few ultrawealthy Americans.
RealityVoid 2y ago
There is no way they are this dumb. Musk especially, he's not some 1 in a lifetime genius, but he's no dummy either. There is no way he does not understand that what he is doing will have severe negative ramifications.

by mempko 2y ago

philk10 2y ago

or have people that played business people on TV shows...

gsanderson 2y ago
This. He was playing a character. People think it was a documentary.

JumpCrisscross 2y ago

> Musk is out there talking about the US going bankrupt Musk is particularly dark—he was born in South Africa. He knows how this winds up. Yet he seems adamant to recapitulate the ANC’s corrupt playbook.

pfisherman 2y ago
Simple explanation. Musk has lost it. His long term drug (ketamine) use has resulted in a psychotic break, which we are watching play out publicly.

ajross 2y ago

Exactly. And the clear proof is the ridiculous dance around tariff policy. Tarrifs were a clear fait accompli, promised in the campaign and scheduled the moment the administration took office. Then the market tanked right as they were about to take effect. Then there was a delay! Then they were only going to apply to goods not covered by NAFTA^H^H^HUSMTC! Which is all goods, basically. So no tariffs. Except they're still on the books. That's not a rationalist trade policy. At its most charitable, it's a failed attempted at brinksmanship. More likely it's just not understanding how markets work and in particular how that is reflected in the stock market (which, if not "rationalist" per se, is a lot more so than the administration). Incompetence either way.

gadders 2y ago

Canada imposed tariffs on China last year [1]. Is that incompetence as well? [1] https://www.canada.ca/en/department-finance/news/2024/08/canada-implementing-measures-to-protect-canadian-workers-and-key-economic-sectors-from-unfair-chinese-trade-practices.html https://www.canada.ca/en/department-finance/news/2024/08/can...

iAMkenough 2y ago
Canada imposed targeted tarrifs on certain Chinese products, increasing their cost for Candadian consumers to level the playing field. China didn't pay Canada a dime. The United States on the other hand is planning a blanket tariff with certain carveouts, and the current administration seems to believe it will be foreign countries paying the United States as a result. When in reality, it will be American consumers and business owners paying 100% of the tariff costs. That is incompetence.
- gadders 2y ago
  The tariffs are for different purposes. Canada's tariffs were to prop up their automotive industry. America's tariffs are to encourage nations to so more to stop importing illegal drugs into the US.
  - iAMkenough 2y ago
    That doesn't make sense. How does charging American consumers and businesses an additional 25-50% tax on purchases and imports accomplish that?
    - gadders 2y ago
      Because people will stop buying products imported from those countries, and buy from their competitors instead.
      - iAMkenough 2y ago
        If the goal is really to increase law enforcement along the borders, this still does not make sense. There aren't really domestic competitors for much of the imported materials used to create American products, so the foreign suppliers have the upper hand in the "deal" since Americans are reliant on them and do not have their own competitors in place. To me this appears to be more about the federal government charging the majority of Americans more in taxes, to pay for the deficit being created by tax cuts for the few ultrawealthy Americans.

RealityVoid 2y ago

There is no way they are this dumb. Musk especially, he's not some 1 in a lifetime genius, but he's no dummy either. There is no way he does not understand that what he is doing will have severe negative ramifications.