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Very Hot Topic (More than 25 Replies) China's View of Trump's Trade War! (Read 852 times)
Jeff
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Re: China's View of Trump's Trade War!
Reply #70 - Aug 10th, 2018 at 8:02am
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Things aren't going well for authoritarian governments with Central Banks these days...

Turkey has the Central Bank disease too!

https://www.bloombergquint.com/markets/2018/08/10/turkish-lira-collapses-as-inve...
  
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SicklersDink
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Re: China's View of Trump's Trade War!
Reply #71 - Aug 10th, 2018 at 10:29am
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Fresh record low??

Sides are being drawn and this will result in the US being isolated. It's a very risky business because when the USD begins to crash, it may not be able to be stopped.

The Dow is down 200 with emerging markets crashing over this.
  
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Jeff
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Re: China's View of Trump's Trade War!
Reply #72 - Aug 10th, 2018 at 4:45pm
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Fresh record low??

Sides are being drawn and this will result in the US being isolated. It's a very risky business because when the USD begins to crash, it may not be able to be stopped.

The Dow is down 200 with emerging markets crashing over this.
Right. Sovereign governments have always found reasons to start wars, often because they had /have mismanaged their economies so as to cause a famine or something.

Don't worry, your tax dollars spent by the IMF and World Bank have created a viable plan to save everything!

Turkey will be saved... Well, Erdogan will be saved at least, maybe.
  
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SkyChief
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Re: China's View of Trump's Trade War!
Reply #73 - Aug 10th, 2018 at 6:00pm
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Jeff wrote on Aug 10th, 2018 at 4:45pm:
Sovereign governments have always found reasons to start wars, often because they had /have mismanaged their economies so as to cause a famine or something.

Turkey will be saved... Well, Erdogan will be saved at least, maybe.

The Turkish lira is radioactive.  Investors want get as far away from it as possible.  Eurozone stock markets got hit hardest, but the reverberations are felt globally.

Trump tweeted earlier:

"have just authorized a doubling of Tariffs on Steel and Aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong Dollar! Aluminum will now be 20% and Steel 50%. Our relations with Turkey are not good at this time!"

Erdogan advised the Turkish people:

"Trust in God!" 

Not looking good for Turkey.   What if God is on summer vacation?   Undecided
  
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Jeff
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Re: China's View of Trump's Trade War!
Reply #74 - Aug 10th, 2018 at 6:06pm
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SkyChief wrote on Aug 10th, 2018 at 6:00pm:
The Turkish lira is radioactive.  Investors want get as far away from it as possible.  Eurozone stock markets got hit hardest, but the reverberations are felt globally.

Trump tweeted earlier:

"have just authorized a doubling of Tariffs on Steel and Aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong Dollar! Aluminum will now be 20% and Steel 50%. Our relations with Turkey are not good at this time!"

Erdogan advised the Turkish people:

"Trust in God!" 

Not looking good for Turkey.   What if God is on summer vacation?   Undecided
It's not looking good for any government that has taken control of , "regulated" it's economy.

As usual, all of them are turning to shit and the Elites that are in charge are threatening wars of all sorts.

Yippee.

It makes me be happy to be old, but I grieve for the children.

  
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SkyChief
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Re: China's View of Trump's Trade War!
Reply #75 - Aug 10th, 2018 at 6:11pm
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Jeff wrote on Aug 10th, 2018 at 6:06pm:
It's not looking good for any government that has taken control of , "regulated" it's economy.

As usual, all of them are turning to shit and the Elites that are in charge are threatening wars of all sorts.

Does anyone know WHY Trump did this to Turkey?
  
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Jeff
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Re: China's View of Trump's Trade War!
Reply #76 - Aug 10th, 2018 at 6:42pm
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SkyChief wrote on Aug 10th, 2018 at 6:11pm:
Does anyone know WHY Trump did this to Turkey?
Turks allowed bad governments to do it to them, asked to get screwed in fact.

Trump probably thinks it's something to do with Aleppo. Cheesy
  
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BobK71
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Re: China's View of Trump's Trade War!
Reply #77 - Aug 13th, 2018 at 9:11am
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I think the Clinton government enabled those changes to come about for the US.

That is very possible.  After all, the American elites were the biggest beneficiaries of the new China-US conveyor belt of money.

Quote:
Nafta would show huge growth for the US and especially under terms that were (are) very favourable to the US.

Essentially, your argument would have to include the US getting out of Nafta trade agreements and that's the very name of isolationist policy.

I would basically say that any move toward expanding free and fair trade with the rest of the world is the only route left for the US. Trump seems to be determined to take the US in the opposite direction. He's gambling on the US having the economic clout to be able to do so.

Clinton took the opposite approach and I think the graph shows the outcome.


'Free trade' can't possibly be free when currency values are manipulated by central banks around the world with the tacit approval of the Fed and the ECB.  (In the press this is nicely called managing exchange rates and accumulating dollar reserves for a rainy day.)

The basic game of 'globalization' is to prop up the values of dollars and euro to benefit the Western elites by selling cheap goods into the West through cheapening emerging world currencies.  If it has to destroy Western manufacturing, too bad.

Next to top Western politicians and financiers who issue money and debt, the big beneficiaries of globalization have been big corporations which made things cheap outside the West and sold them to Western consumers at better profit margins and in larger quantities.

NAFTA was a big step in this direction, since Mexico was a sizeable cheap-currency country with the convenience of a land border with the US.

The long term solution is not to erect trade barriers, but to set free the markets for money and debt.  When exchange rates are truly free, trade will fix itself.
  
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BobK71
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Re: China's View of Trump's Trade War!
Reply #78 - Aug 13th, 2018 at 9:30am
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Fresh record low??

Sides are being drawn and this will result in the US being isolated. It's a very risky business because when the USD begins to crash, it may not be able to be stopped.

The Dow is down 200 with emerging markets crashing over this.


It seems possible that the difference between Trump and Obama is that, while Obama gave top priority to US's European allies, whose chief concern is Russia, Trump is giving top priority to US's Mideast allies, whose chief concern is Iran.  Thus, the Europeans aren't happy; Russia is.  The Iranians aren't happy; Saudi Arabia and Israel are.

This is a sign that the US deep state, while still maintaining an overall unity of purpose, is split on a major foreign policy issue.  It doesn't look good for the US.

The USD is probably not going to crash.  It's too important to the Western elites.  Over the long term, it might have to be devalued against gold, oil, cryptocurrencies, etc. to maintain its stability.
  
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Jeff
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Re: China's View of Trump's Trade War!
Reply #79 - Aug 13th, 2018 at 9:50am
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BobK71 wrote on Aug 13th, 2018 at 9:30am:
The USD is probably not going to crash.  It's too important to the Western elites.  Over the long term, it might have to be devalued against gold, oil, cryptocurrencies, etc. to maintain its stability.
What could prevent the dollar from continuing to lose value?

If China follows through on it's promise to back it's currency with gold, who would want dollars?

BTW, losing value/being devalued does not equal stability. Stability means maintaining value.
  
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