Trump is Borrowing Money from China to 'Pay Our Farmers to Not Sell Their Crops to China' (Minnesota, how much)
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So we are supposed to believe that before Trump no money was borrowed from China and the congress had no part in it.
The democrats continue to write the fairytales but they can't improve on the old ones.
The truth is China is in trouble and a global threat and some in both parties want to defend China while selling out America. Both parties want in on the profits from a Ponzi scheme.
Trump is a threat to the profits expected and counted on by politicians and others.
If China is in trouble..how are they a global threat?
They apparently have enough resources to lend money to Trump and back his daughters business ventures.
America is in trouble.Double deep trouble the longer trump exists as president.
Its a good headline and someone is buying our debt, but China is selling US treasury bonds, not buying them. That means China isnt loaning the US more money and they havent for a few years. I believe they stopped during the Obama years. Most people probably dont realise China is also running into debt problems and they have been selling bonds to release some of their deficit pressure.
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Quote:
Originally Posted by phma
So we are supposed to believe that before Trump no money was borrowed from China and the congress had no part in it.
The democrats continue to write the fairytales but they can't improve on the old ones.
The truth is China is in trouble and a global threat and some in both parties want to defend China while selling out America. Both parties want in on the profits from a Ponzi scheme.
Trump is a threat to the profits expected and counted on by politicians and others.
Maybe not, but what you should believe is that all the hoopla during the campaign that Trump was different, NOT a typical politician, and that his alleged good business sense would lead to wise decisions, was just so much BS.
The irony is rich here. The debt under Trump is growing at a rapid rate, ever since Trump's tax cuts went into effect. 83% of the tax cuts went to the top 1% but the net result is less money is coming in.
Trump has been putting tariffs on everything, not just China, but everywhere. But farmers are suffering as a result, so Trump says "Farmer Bailout!" Except we don't have the money to pay farmers, so what does Trump do? Borrows the money from China! Trump borrows the money from China to pay the farmers who are going broke because they can't sell to China.
Do the math. The farm support easily comes out of the 10% tariffs on the $200 billions in annual imports that are currently being levied. The news article also doesn't include any numbers on changes in China's treasury holdings which haven't been rising steadily since the trade war.
The problem is that Trump is spending too much and cutting taxes at the same time. The federal government will borrow 1.7 trillion dollars this fiscal year while the fiscal deficit will be 1.3 trillion dollars. The trade deficit will actually start to shrink when the markets are unable to absorb the debt issuance and fall. We saw the same dynamic in January 2016 and February 2018 when the markets fell due to the end of temporary freezes on federal borrowing. This fall will be more gradual since $432 billion is being issued this quarter and subsequent quarters, instead of 810 billion dollars in debt being auctioned in a period of several weeks. The next borrowing freeze won't occur until March 2019.
The irony is rich here. The debt under Trump is growing at a rapid rate, ever since Trump's tax cuts went into effect. 83% of the tax cuts went to the top 1% but the net result is less money is coming in.
Trump has been putting tariffs on everything, not just China, but everywhere. But farmers are suffering as a result, so Trump says "Farmer Bailout!" Except we don't have the money to pay farmers, so what does Trump do? Borrows the money from China! Trump borrows the money from China to pay the farmers who are going broke because they can't sell to China.
Goes to show you there never was and likely never will be such a thing as a pure free market, even if we do get a global federal government (environmental effects of importing invasive species from way-off-land to homeland, if nothing else).
Also, to put it in chronological order.
China undersells stuff over here (and gains money from us)
The US slaps tariffs on Chinese stuff (meanwhile, debt is increasing faster than our economic growth)
China retaliates by slapping tariffs on our own agricultural products
The US borrows money from China, further putting us into debt with China (especially with interest payments due on top of that).
We go further into debt, and hence we have to borrow even more money.
Only time will tell if it is worth it. I'm not holding my breath, though.
Quote:
Originally Posted by sickofnyc
Donald Trump's China Tariffs Don't Apply to Ivanka
Despite her father’s rallying cry to “buy American and hire American,” 100% of Ivanka Trump’s fashion products were made overseas—at least until early 2017.
And now her goods are avoiding the sweeping tariffs enacted by President Trump in his trade war with China. On Friday morning, Trump implemented $34 billion in tariffs on Chinese goods ranging from auto parts to medical devices, according to the Huffington Post.
Clothing and shoes, like those imported by Ivanka Trump’s company, were spared.
I heard about her dealings with China, way back to just after the inauguration. Now to be fair, snopes.com did admit Trump did not specifically exempt Ivanka's company from the tariffs. Still, out of 1300 items subject to tariff, clothing did not appear on the list. Could it be that clothing would be on the list were Ivanka not in the clothing business?
The irony is rich here. The debt under Trump is growing at a rapid rate, ever since Trump's tax cuts went into effect. 83% of the tax cuts went to the top 1% but the net result is less money is coming in.
Trump has been putting tariffs on everything, not just China, but everywhere. But farmers are suffering as a result, so Trump says "Farmer Bailout!" Except we don't have the money to pay farmers, so what does Trump do? Borrows the money from China! Trump borrows the money from China to pay the farmers who are going broke because they can't sell to China.
Goes to show you there never was and likely never will be such a thing as a pure free market, even if we do get a global federal government (environmental effects of importing invasive species from way-off-land to homeland, if nothing else).
Also, to put it in chronological order.
China undersells stuff over here (and gains money from us)
The US slaps tariffs on Chinese stuff (meanwhile, debt is increasing faster than our economic growth)
China retaliates by slapping tariffs on our own agricultural products
The US borrows money from China, further putting us into debt with China (especially with interest payments due on top of that).
We go further into debt, and hence we have to borrow even more money.
Only time will tell if it is worth it. I'm not holding my breath, though.
I heard about her dealings with China, way back to just after the inauguration. Now to be fair, snopes.com did admit Trump did not specifically exempt Ivanka's company from the tariffs. Still, out of 1300 items subject to tariff, clothing did not appear on the list. Could it be that clothing would be on the list were Ivanka not in the clothing business?
The Trump family of grifters came to steal...and steal and cheat they will being true to form.
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