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Wall Street Wrong Again – Import Prices
Decline During Full Year of Import Tariffs…

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Posted By: earlybird, 6/16/2019 10:34:29 AM

The latest set of statistics from the Bureau of Economic Analysis (BEA) shows all of the professional pundit claims of higher prices on imported goods due to Trump tariffs are simply disconnected from reality. In actuality the year-over-year prices of import products are actually dropping: (Graphic)U.S. Import prices fell 0.3 percent in May, the first monthly decline since a 1.4-percent drop in December. Import prices advanced 1.8 percent from December to April before the downturn in May. The price index for overall imports decreased 1.5 percent over the past 12 months, matching the drop in January. These were

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Reply 1 - Posted by: Omen55 6/16/2019 11:23:30 AM (No. 99295)
Orange Man bad. Because he makes Wall St experts look dumb. The smart move would be to save $$$ by firing the "experts" & just listen to Trump.
10 people like this.

Reply 2 - Posted by: Taxed2Death 6/16/2019 11:28:30 AM (No. 99300)
Economic illiteracy running wild. Even ECON 101 dropouts understand tarrifs are TAXES that get paid by the end consumer. If import prices decreased last year the decrease would have been larger WITHOUT tarrifs!
2 people like this.

Reply 3 - Posted by: DVC 6/16/2019 11:31:48 AM (No. 99303)
OK, this is difficult for most Americans to grasp, ESPECIALLY American economists. Economists see a business as a financial institution which has the purpose of making a profit for the owner or share holders. In China, this is very much NOT the purpose of a business. The most important purpose of a buisiness in China is to employ people, basically to "keep them off of the streets". Communist governments know that unemployed people in their 'worker's paradises' are much like political dynamite just laying around, a huge danger of a political explosion. China has been pretty much a 17th century country forever, and many tens of millions of people move from the very backward, unpleasant 17th-18th century countryside to the relatively modern cities each year. If the government cannot provide jobs and housing for these massive hordes of unskilled country folks, they understand that relatively quickly things can turn very ugly and riots and government overthrow are a real possibility. So - factories do NOT need to make a profit, but they MUST provide huge numbers of jobs and pay for (at least mostly) the housing and such for these hordes moving to the cities. They CANNOT lay people off if their businesses start losing money, and they CANNOT lower their production numbers. THEY MUST continue to make widgets and they HAVE TO get the damned things shipped out an make SOME money, however small, while retaining the critical, crucial, MANDATORY JOBS, which are the primary (almost total) purpose of their factories. So, when the tariffs hit, they just lower their profits and keep the prices low so that they can keep selling. Any sane capitalist business would eventually just shut down, not enough or no profits, losing money, just stop it. The Chinese CAN'T just shut down the factories, they HAVE TO keep them open, or die politically. So, American economists are totally wrongm because they refuse to understand that China is not anything like a normal free market business environment. It is a total government controlled state, and all things are done to create power for the government. Profit is nice, but the jobs to provide political stability are MANDATORY. Trump will win this, I am almost 100% certain.
17 people like this.

Reply 4 - Posted by: DVC 6/16/2019 11:33:28 AM (No. 99305)
Sorry, #2, you fall into the same trap. Econ 101 applies in free markets, and has absolutely NOTHING to do with Chinese markets, factories, etc. Same problem as Wall Street economists. Blind to reality when it is different than their simplified, narrow, college training.
10 people like this.

Reply 5 - Posted by: Calico Al 6/16/2019 11:56:55 AM (No. 99320)
Did these economists go to the same collage as AOC?
5 people like this.

Reply 6 - Posted by: HotRod 6/16/2019 12:38:56 PM (No. 99365)
China has big plans for becoming the dominant economic and military force in the world. They cannot do either without favorable access to the American market. They have bought that access from politicians, current and former, for years. Now, things are changing rapidly for them. They underestimated the will of President Trump and were caught off guard, as seen in their current predicament. Someone posted, over at the Sundance site, that the Chinese are hoping to outwait President Trump, until a democrat gets back in the White House and congress is dominated by democrats. I think that is a bad bet. I think one of the reasons the Huawei issue blew up so fast, in addition to the 5G threat, is that the Chinese network was intended to be used for interfering with our elections and politics. China will be facing President Trump for another four years, until 2024. By then, maybe we will have our political, and intelligence, houses cleaned out and put in order. I would be willing to bet President Trump's successor will not be a democrat either!
0 people like this.

Reply 7 - Posted by: jfodoch 6/16/2019 12:41:26 PM (No. 99367)
I would vote for The Donald every election for the rest of my life!
4 people like this.

Reply 8 - Posted by: Ribicon 6/16/2019 2:07:18 PM (No. 99439)
The corollary to #3's insightful comments is that Chinese imports are subsidized by costly US welfare payments that replace lost industrial jobs here at home. This reverse tariff on US taxpayers is omitted from calculations done by leftist economists, forever under the sway of the noted Marxist homosexual Milton Keynes.
3 people like this.

Reply 9 - Posted by: judy 6/17/2019 3:27:09 AM (No. 99716)
They did the same with the washing machines tariff scared us to death with a $ 10 increase?? These same people never utter a word with the billions spent on illegals. The wall pays for itself with the cost savings for welfare, schools, medical care, jails, attorneys, judges...
1 person likes this.

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