Is anyone watching this Trump car crash?

[soundsys]

WTF is happening? It’s like some bizarre performance art piece.

He’s holding up signs and shouting and throwing out hats it’s just 🤯

It wasn’t conspiracy re the tanker, it was simply suggesting that we live in a world where it’s not inconceivable that the Russian state could have had a hand in something. I’m quite content to hear that in this instance it was not the case, though they’ve proven over and over again that hybrid warfare is very much a thing.

I suspect the tariffs might be cock up (as in Trump not understanding how tariffs actually work) but there are intelligent people who do who will certainly be benefiting from this, that’s not far-left conspiracy.

As, I've said several times, I'm perfectly able to distinguish between Trump's character as an individual and the rationale for his policies. I don't quite understand why you keep repeating that or why you seem wedded to that interpretation?

What I keep saying over and over, is that there has been no clear, sensible, comprehensive (or comprehensible) explanation of the theory or the calculations behind this, other than that he does not seem to understand either tariffs or trade deficits.

I understand the flaws in Ricardian Trade Theory in the modern world, but I'm not really sure about your reading comprehension. The BBC article does not provide a rationale. It's a pretty straightforward, not particularly deep look at various issues around what's happening, mostly with a negative slant on Trump's actions. It does conclude with with what's below. I'm curious as to in what universe 'Perhaps there is some substance to the theory that the real objective here is to weaken the dollar and lower US borrowing costs. For now, the US is checking out of the global trade system it created. It can continue without it. But the transition is going to be very messy indeed.' provides what I asked for, which is a reputable economist espousing this as a viable and/or likely strategy.

From the BBC article:

In the game theory of trade wars, credibility does matter. The US has unrivalled military and technological might, which helps. But to transform the global trading system using an arbitrary formula, that throws up transparent absurdities, even without the penguins, is likely to encourage the other side to resist.
This is especially the case when the rest of the world thinks that the loaded gun that the president is holding is being aimed at his own foot. The stock market fell most in the US. Inflation will go up most in the US. It is Wall Street now calculating a more-than-evens chance of a recession in the US.
Perhaps there is some substance to the theory that the real objective here is to weaken the dollar and lower US borrowing costs.
For now, the US is checking out of the global trade system it created. It can continue without it. But the transition is going to be very messy indeed.

Trump’s primary aims with the tariffs were to reduce imports to the USA and weaken the dollar. He’s made that very clear.

Trump's primary aims are Trump himself

50% on China

An additional 50% too, it’s literal economic warfare from the Trump administration (am I being a lefty conspiracy theorist again…?)

Ah, the Mar-A-Lago Accord theory. Now widely circulating on right wing media as a retroactive attempt to sweep up the turds he drops.

@1dayatatime

From the NYT on his 'strategy'

Will it work? Few economists think so. Many prophesize disaster, pointing out the enormous risks of economic turbulence. Even Mr. Miran admits the possibility. It is critical to “start small and take small steps,” he writes — an approach that seems unlikely in an administration that prizes bold action.
There is an even bigger problem with the plan, though, than its slim prospect of success. Perhaps the United States could manage in a world that does not run on the dollar. But the dollar is the world’s reserve currency because it is considered the most reliable place to store assets and to invest — a haven from expropriation, political retribution and economic unpredictability. Foreign states and individuals alike invest in the United States because they believe our political system is stable, our legal system is fair and private property is valued.

Here's the full article with a share token - it's an OpEd, so an opinion piece

www.nytimes.com/2025/04/07/opinion/tariffs-trump-dollar.html?unlocked_article_code=1.904.kvEZ.GDPCZt_H_YvG&smid=url-share

Nope - the USD is the world's reserve currency simply because the US is the world's largest economy, nothing to do with being the most politically stable, predictable etc etc.

If the criteria for being a reserve currency was political stability then it would be the Swiss Franc or the Singapore dollar or the New Zealand dollar.

‘Well Done, Old Man!’ Russian State TV Revels in Trump Having ‘Destroyed Trust’ in the Economy — Calls for a Monument to Be Built in His Honor
https://www.mediaite.com/news/well-done-old-man-russian-state-tv-revels-in-trump-having-destroyed-trust-in-the-economy-calls-for-a-monument-to-be-built-in-his-honor/

It's much more complicated than that and most people with anything more than the most simplistic understanding realise that.

Considering your previous posts, you'll excuse me if I decline to take your word as gospel.

Adding: you might want to look up some history.

Unfortunately another hard left conspiracy theory, I'm thinking of doing a line in fashionable tin foil hats as there seems to be a growing demand.

Whilst I can understand how a 50% tariff on Chinese imports can cause inflation and has the potential to harm the US economy, I cant see how Trump personally gains from a 50% tariff on China.

Nope it really is as simple as the US being the strongest economy in the pre and post WW2 years. This was recognised in the Bretton Woods Agreement in 1944.

What is a hard left conspiracy? Trump putting Trump first?

Yes. I know about that. What's your point? Other than that you have only the most simplistic and surface understanding of the things you talk about?

So firstly whilst I recognise that you can distinguish between Trump the individual and Trump policies, sadly many of the posters on this thread cannot and simply want to throw insults at the man which doesn't really take us forward in understanding the rationale for the policies.

Secondly I have explained the potential rationale for the tariff policies recognising the potential upside but equally economic risks of inflation and economic downturn certainly on a global scale. The US given its size and variety of resources would comparatively suffer less worse off than other countries.

What I have failed to see is any alternative strategy for dealing with a $1.2 trillion trade deficit every year. This is not sustainable and a plan to just simply carry on as before with no change is exactly why Harris lost the election. Yes the tariff policy is a risk but the previous trade policies will simply see a managed decline in US economic strength.

The point is that the US dollar is the world's reserve currency simply because the US is the world's largest economy.

I may have a simplistic or surface understanding of economics compared to yourself and in which case I would love to hear your solution to deal with a persistent $1.2 trillion trade deficit every year? Because it's really not sustainable.

That Trump has put a 50% tariff on Chinese goods in order to personally benefit from it.

Thats a hard left conspiracy theory.

You are right, who is now going to supply his Trump bibles, maga hats and tat for cheap

The MAGA hats are made by Unionwear of New Jersey, one of the last unionised clothing manufacturers in the US.

As for the bibles I have no idea, probably best to ask God given he has the copyright.

https://www.thetimes.com/us/american-politics/article/trump-tariffs-maga-hats-merch-china-95xrpsf5z

I think all the right people are upset by his moves.
The wealthy elites have had it too good for too long, the system is rigged for basically Ponzi schemes, shares are massively over priced, and what’s the result for our economies? We pay more in debt repayments than ever before, huge amounts! Huge:
it’s a scam the whole thing, but of course ‘the expert economists’ don’t like what he’s doing, they are set to lose out. Trump wants secure jobs for ordinary Americans, it’s really that simple, he doesn’t care that people on Wall Street are losing out.

Hong Kong stocks have closed down 13%. Worst performance since 1997.

You obviously have no understanding of modern mixed economies. Secure jobs for Americans are produced by companies investing and growing. Not worrying how they’re going to source raw materials and market their goods in an era of inflation and trade wars. More Americans work in services rather than manufacturing goods. American has a large trade surplus in services with other countries-so should they be tariffed too? And wealthy elites in Wall Street? Do you have a pension? Ordinary Americans and investors all over the world are exposed to movements in the stock market. Ordinary volatility is to be expected but not crashes caused by a crazy man whose Maga fans who don’t know any better are cheering him on.

"It's really that simple". It isn't, @Hamsters, but you are. Utter twaddle.