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Daily Archives: September 1st, 2019


It is a mystery that we associate our political beliefs with one party or another. It is my opinion that this an uninformed process. Each party for years (almost like eons) has touted their regard for the voters. Modernly this concern is about votes and not the voters. The mantras of climate change, open borders, conservative values (whatever that is) liberalism, and any abounding current monikers have taken over and overshadowed what Government’s job is. We already know or should know that politics is always now and will be in the future about votes that keep a person in office. We jumped on the C-span bandwagon and we do not view it. We were misled as to the purpose of having cameras in the House and Senate, the idea was to watch legislators in action only there is no action! All of the activities take place in hallways and offices which are not viewed. So the question could be: what is going on?. The on-air information from both sides has become so much blather as to be headache creating. What is it the voters need? WE need first to stop following any party and begin the independent thinking that the Constitution allows. The constitution provides for this in the First amendment but not for misguided speech and information which we see daily from elected and aspiring politicians or candidates. The clue to solving the mystery is to inform your self by reading or listening to a variety of sources and a determination from that what is true not what your preferred party says. You must understand that each party will and does say what is required to get your vote. Mystery solved- vote with intelligence disregard what sounds like BS as it probably is or at the least a stretched truth. Vote smart to get better government.

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Will Tariffbackers rejoice over this? MA

Rick Newman, Senior Columnist, Yahoo Finance August 31, 2019, 0:38 6:42
USTR locks in 15% tariffs on Chinese goods starting Sept. 1, Trump targets Fed over its rate cut policy
With far less fanfare than the tax cuts President Donald Trump signed into law in 2017, a series of tax hikes goes into effect today on thousands of everyday items imported from China.
A new tariff of 15% will be added to the cost of more than 40% of all consumer products imported from China on Sept. 1. That amounts to about $109 billion worth of annual imports, according to research firm Panjiva. On Dec.15, the 15% tariff will be assessed on another $155 billion worth of consumer goods from China. At that point, there will be new Trump tariffs on virtually everything imported from China.
Trump has already imposed 25% tariffs on about $250 billion worth of Chinese imports, but those are mostly component products consumers never see. Those tariffs have led to some price increases, with some importers also taking a hit through lower profits. In some cases, Chinese suppliers have lowered their own prices to offset the tariff. Importers have also begun seeking new suppliers outside China, to avoid the tax.
A $1,000 annual tax on the typical US household
The Sept. 1 tariffs would take about $16 billion out of Americans’ pockets over the course of a year, if Chinese import levels remain the same. Add in the Dec. 15 tariffs and the cost of the tax would rise to $40 billion. That’s not a huge hit in a $21 trillion economy, but it does add up. JPMorgan Chase estimates the tariffs already in place and scheduled to go into effect will cost the typical American household more than $1,000 per year.
The tariffs hitting today will apply to thousands of products sold at Walmart (WMT), Target (TGT), Best Buy (BBY), Home Depot (HD), Ikea, Amazon (AMZN) and other retailers. Here are some of the main product categories subject to the new tax, according to Panjiva:
Clothing and footwear such as sneakers, sweaters and baby clothes — $39 billion worth of annual imports
Electronics such as TVs, monitors, and audio equipment — $24 billion
Machinery such as printers, desktop computers, hand tools, and air-conditioner parts — $15 billion
Plastic products such as tableware, buckets, and school supplies — $5 billion
Leisure products such as NordicTrack fitness machines — $5 billion
Furniture such as bedding — $1 billion
Price hikes won’t hit consumers right away on every product. Some importers have been stockpiling Chinese imports ahead of the new tariffs, so they’ll be able to sell from non-tariffed inventories for a while. But retailers have been griping about the tariffs nonetheless. A group of more than 200 shoe companies, for instance, recently sent a letter to Trump calling the tariffs a “hidden tax … driving up costs for hardworking American families.”
Most economists say the Trump tariffs alone aren’t enough to cause a recession. But they’re probably slowing overall economic growth. And the latest consumer-sentiment survey by the University of Michigan showed a big drop, largely due to the escalating trade war.
China, in response to Trump’s tariffs, has raised its own tariffs on some U.S. imports, and simply stopped buying some American products, such as soybeans and pork. The trade war is hurting both sides. Trump needs a deal with China to bolster his reelection odds 14 months from now, before the trade war does too much damage to the U.S. economy. But China may wait him out, as American consumers adapt to paying more—and decide whether it will affect their vote in 2020.

Rick Newman is the author of four books, including “Rebounders: How Winners Pivot from Setback to Success.” Follow him on Twitter: @rickjnewman
Confidential tip line: rickjnewman@yahoo.com.

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Liars Poker?

Published: Aug 30, 2019, 4:19 p.m. ET

By Robert Schroeder, White House reporter

President Donald Trump on Friday took a slap at what he called badly run companies, saying there isn’t a problem with tariffs as the U.S. and China were set to impose new levies on each other’s products beginning Sunday.
‘WE DON’T HAVE A TARIFF PROBLEM’
With individual companies and business groups complaining about the effects of his trade war, Trump said on Twitter, “Badly run and weak companies are smartly blaming these small Tariffs instead of themselves for bad management…and who can really blame them for doing that?”
Trump didn’t name any companies. On Wednesday, a coalition of 161 manufacturers, farmers, retailers, natural gas and oil companies as well as other business groups, sent a letter asking Trump to postpone tariff rate increases on Chinese goods slated to take effect this year. More businesses and farmers say they are suffering amid the U.S.-China trade war, as the Wall Street Journal writes, with Best Buy Co. BBY, +0.25% among the latest firms to warn of the impact of tariffs.
The U.S. government will begin collecting 15% tariffs on $112 billion in Chinese imports beginning Sunday. The Associated Press says when the tariffs kick in, 69% of the consumer goods Americans buy from China will face import taxes, up from 29% now. China’s retaliatory measures take effect the same day.
Saying “we don’t have a tariff problem,” Trump went back to his regular criticism of the Federal Reserve, pressing the central bank to more aggressively cut interest rates. “If the Fed would cut, we would have one of the biggest Stock Market increases in a long time,” the president claimed.

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