the dotard keeps saying “we’re getting billions from china” (ah, goebbels...)

the imf begs to differ

-

U.S., Chinese consumers ‘unequivocal losers' in trade war, IMF says
Tariffs paid 'almost entirely' by American importers: IMF study

Despite President Donald Trump’s assertion that America can “win” a trade war with China, a new analysis from the International Monetary Fund (IMF) makes clear there are losers on both sides of the Pacific.

Tensions remain high between the world’s two largest economies, as global markets grapple with a trade war that seems to have no end in sight.

Even as the president argues his offensive is meant to protect the U.S economy, IMF data shows that consumers in both countries are “unequivocally the losers” in a trade war.

“While the impact on global growth is relatively modest at this time, the latest escalation could significantly dent business and financial market sentiment, disrupt global supply chains, and jeopardize the projected recovery in global growth in 2019,” the fund wrote in a blog post.

“At the global level, the additional impact of the recently announced and envisaged new US-China tariffs, expected to extend to all trade between those countries, will subtract about 0.3 percent of global GDP in the short term, with half stemming from business and market confidence effects,” IMF economists added.

The fund’s data shows that most of the tariff revenue collected has been shouldered almost exclusively by U.S. importers. Some of those fees have been passed onto American consumers for goods like washing machines, while other companies have absorbed the costs, depressing margins.

Those costs could steepen if the U.S. levies additional tariffs on an extra $300 billion of Chinese goods.

“A further increase in tariffs will likely be similarly passed through to consumers,” the fund’s economists wrote. “While the direct effect on inflation may be small, it could lead to broader effects through an increase in the prices of domestic competitors.”

But the impact on producers isn’t as clear-cut, and may produce “some winners and many losers,” according to the note.

“Some US and Chinese producers of goods competing in domestic markets with imports affected by tariffs, as well as competing third country exporters, are potential winners.”

Still, producers from both countries affected by the tariffs, “as well as producers that use those goods as intermediate inputs, are potential losers,” according to the IMF.

Producers took a hit through trade diversion and also market segmentation, but also in market valuations, where companies with exposure to Chinese markets suffered losses.

Meanwhile, U.S. corporations with large exposure to China also saw their stocks fall sharply after China retaliated against the U.S.’s tariff action, IMF data showed.

If left unresolved, the IMF warned that ongoing tensions could disrupt global supply chains. Consumer goods could become less affordable, and harm low-income households disproportionately, the fund cautioned, during an already “delicate year” for the global economy.

https://finance.yahoo.com/news/us-ch...182559775.html

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tl;dr: the dotard does not understand economics

Charlie Kirk tweet:



The Obama Administration:

Told Congress it wouldn't allow Iran access to our financial institutions

Issued Iran special access to our financial institutions

Pressured US banks to help Iran

Replace "Obama" with Trump and "Iran" with Russia

Imagine the outrage!!!

IMAGINE UNICORNS!

Does something happen in Bytor Peltor's head when he opens this thread? He seems like a reasonable enough guy in all other threads, but here he just spouts off barely coherent, randomly capitalised garbage, and posts images that should appeal only to the lowest-common denominator of person.

I'm mostly an observer on this forum but nonetheless the above is an interesting phenomenon, to me.

Justin Amash on his fellow Republans:

“I’ve seen it from my colleagues. ‘Oh, I won’t be principled on this one. And oh, on this one too… and then, a year later, they’re a zombie,” he said to the crowd. “I couldn’t look my kids in the eye and say I was a responsible person if I did that kind of thing.”

https://www.thedailybeast.com/republ...event?ref=home

I like Amash, all things considered.

Israel situation interesting (and pretty fucking scary)

Biyamin Netan-yoo-hoo needs to form a government or he loses his immunity for corruption charges. But his coalition includes the ultra orthodox, who don't want to be drafted (and claim to be all scholars studying the Talmud to avoid the draft) and anti Palestinian right wingers who want no exemptions for the draft. We'll see how it plays out, but that fucking Binyamin & Sarah Yoo-hoo are survivors.


Also Noteayoohoo is trying to distance hisself from the US/Iran conflict. This after his providing all the intel that Trimp is using to amp up the situation. Reese Bolton, when asked about the “ship damage”, said something like “of course Iran did it, who else would, Nepal?”

Nettieboy is justifiably worried that a shooting war between US & Iran would very likely destroy a lot of Israel. He’s been rattling sabre for a long time, mostly for political gain, but now fears it when it actually looks like Trimp & Bolton in are in charge of WMD. :shock:

Mueller revelations did little to change Trump’s ‘personality cult’ supporters’ minds — a Yale psychiatrist explains why

https://tinyurl.com/y3ympvcb

https://www.rawstory.com/2019/05/mue...-explains-why/

"What impact do you think it’ll (Mueller's refusal to exonerate Trump on the issue of obstruction and Trump's reaction) have on his followers? Why?

Currently, Mr. Trump has turned his followers into a personality cult, which will believe whatever he says over all evidence, and so they will simply amplify his impairments. He himself told them: “What you are seeing and what you are reading is not what’s happening.“

It is important to note that fascism is not a political ideology or strategy but mental pathology at societal scale, starting with an impaired leader who attains power not to lead but to fulfill his own dysfunctional needs. Of course, such a leader is attractive in the first place because of similar pathologies in the population, which global economic inequities and massive social injustices in our day could have predicted. Since such a leader does not have any real ability to lead, he manipulates the psychological weaknesses in the population, augmenting societal disorder until the dynamic brings down the entire society. Destruction is always the inevitable result, as it is the nature of pathology, as opposed to healthy choices."

that motherfucker is gonna destroy the world economy with his imbecilic tweets

https://www.rawstory.com/2019/05/sta...for-anti-lgbt/

State Department will focus on “natural rights” and how far we’ve strayed..

Pompous Pompey Pompeeo sez: “bible informs everything I do“

If we’re really returning to natural law, guys like Pompey have like 0 chance of survival.

why cant the sonofabitch stick to bankrupting casinos

oh yeah he has to invent distractions for his crimes

whoopsie. A minor league team suddenly is loosing all sponsors. I read it because also Heineken dropped out


Sun-Maid pulls baseball team sponsorship after a video portrays Alexandria Ocasio-Cortez as an enemy of freedom



this is the video
if you don't have three minutes, go to the 3:00 minute mark.

yeah. i had not seen till now. assholes.

—

meanwhile the fucking dollar tanking against the fucking yen

the motherfucker...

and gulf refineries gonna get hit with the mexi-tariffs on oil

trump’s announced tax on groceries that he says “mexico is gonna pay” has you worried about eating, huh?

lmao that recipe for ass cancer with a side of deluded smugness is hilarious

try some fresh fruit and vegetables at least occasionally

o wait, they gave you a food tax, a bridge too far, say bye bye now

bye bye

There's always the option of eating Elizabeth Warren. Just saw her get roasted by Charlamagne the God. Hillary can bring the hot sauce.