SCOTUS Rules Against Trump Administration IEEPA Tariffs

[baddog]

26 minutes ago, OlDawg said:

Man! Where the heck are y’all buying groceries?

KROGER:

Choice Boneless Beef Brisket Untrimmed Whole in Bag (Limit 1 at Sale Price)

$3.99/lb.

I never pay full price even before inflation.

Pork Butt was $.99/lb. last week. I’m smoking it tomorrow, vacuum packing what we don’t eat for stuffed spuds, brisket enchiladas, & barbacoa tacos. We gat about 4 different meals for about $12.00 total for the main course. 😀

 

Not necessarily where I buy my beef, but I look anyway. Sam’s wholesale had a brisket for $80 bucks. Didn’t care about the poundage, the price scared me off. Maybe I need to go to Kroger’s. Lol

[OlDawg]

14 minutes ago, LumRaiderFan said:

And what about that $22 to $25 lunch?

I could give him some recommendations. 🙂

Can of no salt added Starkist in water, tbsp. of mayo, tbsp. of dill relish on a low carb tortilla. Add an apple I split with my better 1/2.

40 grams of protein, 20 grams of fiber, only 200 mg of sodium, and a bunch of vitamins.

It’s a fancy lunch called a tuna wrap.

Cost: About $2.75

😉

[OlDawg]

11 minutes ago, baddog said:

Not necessarily where I buy my beef, but I look anyway. Sam’s wholesale had a brisket for $80 bucks. Didn’t care about the poundage, the price scared me off. Maybe I need to go to Kroger’s. Lol

Gonna be a good weekend to smoke a brisket for sure. I usually buy 2 when they go on sale around Memorial Day. Smoke one & freeze the other for later. We like smoking a brisket for Christmas if our kids/grandkids are coming down.

[UT alum]

4 hours ago, OlDawg said:

No he didn’t. He offered incentives for investing—not punishment. Now, you’re just making stuff up to fit a narrative.

Also, remember what I said about good policy vs. bad policy. The previous Administration’s policies stunk. It showed up immediately with over 9% inflation. Unreal.

The current Administration has lowered that inflation number down significantly to a manageable rate. Question is, with the new policy fluctuations again, will they begin creeping up, or will they maintain a 2.4-2.6?

The new Fed Chair will have a bearing since the benchmark interest rate should be around 3.5 right now at the high end.

Either way, we need stability for investments. Promises are good. Actual tangible infrastructure investments are better. The deregulation will play a big part moving forward.

Global supply chain disruption was more responsible than policy. More effective leadership going in to the pandemic might have softened those blows.

[Boyz N Da Hood]

5 hours ago, OlDawg said:

No he didn’t. He offered incentives for investing—not punishment. Now, you’re just making stuff up to fit a narrative.

Also, remember what I said about good policy vs. bad policy. The previous Administration’s policies stunk. It showed up immediately with over 9% inflation. Unreal.

The current Administration has lowered that inflation number down significantly to a manageable rate. Question is, with the new policy fluctuations again, will they begin creeping up, or will they maintain a 2.4-2.6?

The new Fed Chair will have a bearing since the benchmark interest rate should be around 3.5 right now at the high end.

Either way, we need stability for investments. Promises are good. Actual tangible infrastructure investments are better. The deregulation will play a big part moving forward.

Your first paragraph u did the same thing you said @TheMissingBand  is doing... "making stuff up to fit a narrative" 

This administration took over with inflation at what 2.9-3%? It isn't far off that now..

So no the current administration didn't lower anything significantly.. 

[OlDawg]

1 hour ago, Boyz N Da Hood said:

Your first paragraph u did the same thing you said @TheMissingBand  is doing... "making stuff up to fit a narrative" 

This administration took over with inflation at what 2.9-3%? It isn't far off that now..

So no the current administration didn't lower anything significantly.. 

Half a point is historically a significant drop. It just doesn't seem like much compared to the high of 9%. I made nothing up. You need to study history more.

[OlDawg]

1 hour ago, UT alum said:

Global supply chain disruption was more responsible than policy. More effective leadership going in to the pandemic might have softened those blows.

We could quibble all day and never come to a definite conclusion. Adding $1.9 Trillion free cash flow caused the Fed to have to raise interest rates significantly. This helped fuel inflation. Yes, the other factors you mention played a role as well. Numbers I've seen credit the IRA with raising inflation by 30-40%, with the other factors contributing the rest. So, the so-called Inflation Reduction Act actually increased inflation by around 3-3.5% in the short term.

[DCT]

56 minutes ago, OlDawg said:

Half a point is historically a significant drop. It just doesn't seem like much compared to the high of 9%. I made nothing up. You need to study history more.

 

[TheMissingBand]

Trump announced that he’s bumping his 10% tariff on everybody on earth he announced yesterday up to 15% today. 
 

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[Boyz N Da Hood]

2 hours ago, OlDawg said:

Half a point is historically a significant drop. It just doesn't seem like much compared to the high of 9%. I made nothing up. You need to study history more.

Drop from 9% to 3% crickets

From 3% to 2.6% significant drop..

I see now 👍🏾

[OlDawg]

48 minutes ago, TheMissingBand said:

Trump announced that he’s bumping his 10% tariff on everybody on earth he announced yesterday up to 15% today. 
 

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Not a fan. As I said, this needs to stop.

[OlDawg]

1 hour ago, DCT said:

 

That’s actually what he sounded like to me.

[OlDawg]

18 minutes ago, Boyz N Da Hood said:

Drop from 9% to 3% crickets

From 3% to 2.6% significant drop..

I see now 👍🏾

No. You don’t appear to see. The 9% was artificially inflated. The Feds raising the interest rates lowered the inflation rate more than anything the Biden Administration did.

Somewhat similar to Trump. This Administration has hurt inflation coming down more due to tariff policy. The Feds maintaining a higher interest rate than needed are also affecting the slower pace of disinflation. The Fed is slowing down the drop on purpose. They want to ease into 2%. Not crash.

It doesn’t take a rocket scientist to know that if the Fed target is 2%, that 1/2% is a major change one way or other when not artificially inflated. If core inflation were to hit 3%, the Fed would immediately raise 50 basis points. That’s how big a 1/2% change is when the rate is close to target.

[UT alum]

5 hours ago, OlDawg said:

We could quibble all day and never come to a definite conclusion. Adding $1.9 Trillion free cash flow caused the Fed to have to raise interest rates significantly. This helped fuel inflation. Yes, the other factors you mention played a role as well. Numbers I've seen credit the IRA with raising inflation by 30-40%, with the other factors contributing the rest. So, the so-called Inflation Reduction Act actually increased inflation by around 3-3.5% in the short term.

Classic too many dollars chasing too few goods.Too few goods wasn’t from lack of productivity as has been the case historically. Fiscal policy did slosh too much cash into the pot, but inflation dropped more quickly than in past cycles when inflation inventories caught up. That’s just the way I see it.

[OlDawg]

2 hours ago, UT alum said:

Classic too many dollars chasing too few goods.Too few goods wasn’t from lack of productivity as has been the case historically. Fiscal policy did slosh too much cash into the pot, but inflation dropped more quickly than in past cycles when inflation inventories caught up. That’s just the way I see it.

I wouldn’t disagree with your take. I’d debate you on your second sentence is all. I think the lockdowns did affect not only the manufacturing of goods, but also the logistics of supply. We both agree the $1.9 Trillion wasn’t needed & actually hurt. It actually accomplished nothing of note.
When the Feds kept raising rates, and the extra money people received ran out, they had to pull back some. That helped cool inflation as well.

[DCT]

27 minutes ago, OlDawg said:

I wouldn’t disagree with your take. I’d debate you on your second sentence is all. I think the lockdowns did affect not only the manufacturing of goods, but also the logistics of supply. We both agree the $1.9 Trillion wasn’t needed & actually hurt. It actually accomplished nothing of note.
When the Feds kept raising rates, and the extra money people received ran out, they had to pull back some. That helped cool inflation as well

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Tariffs did not achieve what Trump promised.

[Reagan]

7 minutes ago, DCT said:

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Tariffs did not achieve what Trump promised.

It brought in a huge amount of money.  Plus he used tariffs as leverage to get what’s good for America!  How can anyone be against this?!

[DCT]

9 minutes ago, Reagan said:

It brought in a huge amount of money.  Plus he used tariffs as leverage to get what’s good for America!  How can anyone be against this?!

Where is the money?  Where is the savings that was passed on to Americans?

[OlDawg]

16 minutes ago, Reagan said:

It brought in a huge amount of money.  Plus he used tariffs as leverage to get what’s good for America!  How can anyone be against this?!

I believe tariffs have only brought in about 1% of the national debt. That’s before some will probably be refunded.

It would have been much better to cut spending from a fiscal standpoint. Of course, we know that’ll never happen. Neither Party will cut.

I am still hopeful some needed items can be re-onshored. That—to me—was the actual goal. It’s still up in the air, and possibly won’t be known for a few years.

It’s critical to bring back some pharma & semiconductors. (Even though I dislike the government buying stakes in private firms like they have done under this administration.) I am against the nationalization of industries from a competition aspect, and a socialistic approach in private enterprise. This shouldn’t be a government function other than to provide incentives—not ownership. GM still owes us around $14 billion.

I’m not sure who is really running the fiscal show from the Administration. But, I’ve always questioned some of the moves as a private enterprise/free trader.

Yes, there have been some successes. There’s also been a lot of turmoil.

[OlDawg]

34 minutes ago, DCT said:

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Tariffs did not achieve what Trump promised.

Cuomo has no clue yet. He’s judging based on the wrong criteria & way too soon. The goal of tariffs was to bring manufacturing back to the U.S. That won’t happen overnight.

While I may not be a fan, it’s too soon to know if they’re successful at the core goal yet.

[Reagan]

18 minutes ago, DCT said:

Where is the money?  Where is the savings that was passed on to Americans?

You can look up how much money was generated!  I’m sure it went into the treasury!  🤷‍♂️

[DCT]

Just now, Reagan said:

You can look up how much money was generated!  I’m sure it went into the treasury!  🤷‍♂️

Maybe Qatar?

[Reagan]

Just now, DCT said:

Maybe Qatar?

I don’t know.  Maybe!  😁

[DCT]

27 minutes ago, Reagan said:

I don’t know.  Maybe!  😁

That should bother all of us.  Trump family is getting richer by the day.

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Does this make any since to you?

[DCT]

8 minutes ago, DCT said:

That should bother all of us.  Trump family is getting richer by the day.

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Does this make any since to you?

Sounds like someone could have taken cream off the top.