Miscellaneous And Off Topic Subjects

[Dr. Strangelove]

Wallace is woke-lite nonetheless. TBF, he's an excellent interviewer and is well respected as a journalist.

Wallace arguing free market views? I thought he laser focused on the unsupportable claims by Trump in particular that US consumers aren't paying for the tariffs. Of course they are in higher prices and Wallace had data to support that claim. I thought Navarro's response was weak sauce - something about the same institutions saying the same thing a year ago. Whatever.

But the central issue, at least as I see it and Navarro was very clear on this, is how much are Americans willing to pay to get the Chinese to trade fairly with the rest of the world? I think this first assumes Trump can arm twist them into making the structural changes needed to achieve that. I'm not sure he can with the inscrutable Chinese..... never mind they are Communists and we're demanding that they become something close to capitalists by not controlling and subsidizing Chinese enterprise. Hard thing to do, IMO.

Still, I liked the Peterson Institute for International Economics briefing I linked to. A lot to get through but it was definitely a glass half full document as far as realistic compromises on both sides needed to get a trade deal done and the huge bi-lateral benefits to, in a larger degree, China than the US.

Wallace nearly got Navarro to admit that his very first response, that China pays for the entirety of the tariffs, is a load of horseshit. Navarro is a deceptive liar and he's probably the worst person still remaining on Trump's economic team. Worse than Lightizer. His vision for America would be 100% protectionist for all time. And yes, he wants us to manipulate our currency like any good old banana republic.

[Dr. Strangelove]

An Op-Ed from the extremely pro-Trump Washington Examiner.

Trump must name and condemn white nationalism. No vague condemnation of "hate". Call out the philosophy of the shooter in the way you would not hesitate to call a radical Islamist a radical Islamist.

https://www.washingtonexaminer.com/opinion/editorials/trump-must-name-and-condemn-the-evil-of-white-nationalism

[Dr. Strangelove]

Rare instance is which I must praise Ted Cruz for showing some guts and denouncing El Paso for what it was.

[Rocky Bleier]

Media Focus on Mass Shootings Shows Disconnect from Actual Crime Trends:

https://mises.org/wire/media-focus-m...crime-trends-0


"Of course, from a public policy perspective, it's easy to see why pundits and politicians and media journalists would push the mass-shooting angle so hard. The seeming randomness of the shootings allows nearly the entire population to imagine that it could be a victim of a mass shooting at any time. After all, these shootings occur in churches and in schools and at county fairs. These are places where ordinary, middle class Americans go. More importantly, these are places voters go. It's easy to look at street crime in a big city and dismiss it as simply a problem for people who live in "slums." Thus, by focusing on mass shootings, its easier to create the impression that violence has exploded across the US, as mass shootings get ever more air time and discussion in social media."

[Dr. Strangelove]

[Dr. Strangelove]

China is deliberately depreciating its currency to the lowest level since 2008. They have also reportedly ordered all state affiliated companies to halt ALL US agricultural imports. This is possibly the biggest escalation yet by them

https://www.bloomberg.com/news/articles/2019-08-05/china-s-offshore-yuan-tumbles-past-7-per-dollar-to-record-low

[Rocky Bleier]

Three "white supremacist" attacks in a row with manifestos written beforehand. Watch Trump further erode 2A.


https://kurtnimmo.blog/2019/08/04/ma...-supremacists/

[Dr. Strangelove]

Do you believe that crap, Rocky? The guy also believes Sandy Hook was likely faked.

[CGVT]

Take your pick...

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[Dr. Strangelove]

[Dr. Strangelove]

[Jeff Buchanan]

China is deliberately depreciating its currency to the lowest level since 2008. They have also reportedly ordered all state affiliated companies to halt ALL US agricultural imports. This is possibly the biggest escalation yet by them

https://www.bloomberg.com/news/artic...-to-record-low

The biggest threat to the global economy is a drop in the confidence of businesses to invest/expand as the specter of a full-blown trade war looms. Second to that is the threat of a currency war.

Right now, the tariffs and even the devaluation of the Yuan isn't having a huge impact but if Trump enacts the 25% tariffs on a remaining $300b in Chinese imports he has threatened, it will and the potential for a global recession will increase.

I believe, as do trade economists watching this dance, that the Chinese are exquisitely aware of the political challenges Trump faces for re-election and are playing the long game. Note that the US economic sectors that the Chinese are targeting, including agriculture, are going to affect voters in particular states where Trump is going to be challenged.

The impact of devaluing the Yuan (or the Chinese Central Bank not stepping in to stabilize it) is more symbolic than it is impactfull. The Chinese are signaling they are not going to accede to the demands that Trump's negotiators have publicly laid out (e.g., the "Seven Deadly Sins" Navarro named yesterday). These would involve significant departures from the fundamental way the Communist party in China governs.

Having said that, what is going on behind the scenes is just as important as what is said by the two sides publicly. There is a lot posturing going on right now that I believe represents a public face of toughness that belies the knowledge on both sides that a deal can and should be reached. Presenting the fight is sexy. Talking about the stuff that is probably going on behind the scenes isn't, let alone that neither side's worker-bees are talking to the press.

[Hannibal]

I read the guy's manifesto -- assuming it's legit.

When it comes to economics, the guy might as well be an Andrew Yang or a Bernie Sanders voter, condemning the greed of evil corporations and calling for UBI to offset the job-killing effects of automation. He also says that our lifestyle is destroying the planet and we need to be willing to curtail it.

No word yet on how soon Andrew Yang, Al Gore, and Bernie Sanders will apologize for spreading hate and disavow the shooter.

[Dr. Strangelove]

I read the guy's manifesto -- assuming it's legit.

When it comes to economics, the guy might as well be an Andrew Yang or a Bernie Sanders voter, condemning the greed of evil corporations and calling for UBI to offset the job-killing effects of automation.

No word yet on how soon Andrew Yang and Bernie Sanders will apologize for spreading hate and disavow the shooter.

[Ghengis Jon]

Right now, the tariffs and even the devaluation of the Yuan isn't having a huge impact but if Trump enacts the 25% tariffs on a remaining $300b in Chinese imports he has threatened, it will and the potential for a global recession will increase.