T1B

Screw_Michigan wrote:He's clearly working on behalf of Putin and Russia.

L45B wrote:This is one of those topics that makes a lot of people look stupid. Tariffs are ultimately bad for everyone.

Will the Fed Set Off a Recession Alarm?
The Federal Reserve’s expected rate increase this week will take the yield curve one step closer to inverting

By Justin Lahart
June 11, 2018 7:00 a.m. ET
14 COMMENTS

The chairman of the Federal Reserve, just four months into his term, could be in the uncomfortable situation this week of signaling that a recession is coming.
The Fed seems all but certain to raise its target range on overnight rates by a quarter point for the second time this year on Wednesday. There is a good chance it ups its estimate for total rate increases for 2018 from three to four.

The Fed’s last set of projections, in March, showed that policy makers on balance expected to raise rates three times. But nearly half of them reckoned on four rate increases, and the unemployment rate has since fallen from 4.2% to 3.8%, which is where policy makers thought it would be at end the year. Inflation has gotten a bit warmer.

Washington (CNN) — White House aides realized earlier on that they could not stop President Donald Trump from tearing up papers he must preserve to stay in line with the Presidential Records Act, Politico reported Sunday, citing people familiar with the practice.

So to avoid clashing with the law, some staffers have taped his pieces back together "like a jigsaw puzzle," Solomon Lartey, a former records management analyst, told Politico.

Lartey said he got clear tape and reassembled clips Trump had torn up, including a letter from Senate Minority Leader Chuck Schumer.

"I had a letter from Schumer -- he tore it up," Lartey said. "It was the craziest thing ever. He ripped papers into tiny pieces."

The White House did not immediately return CNN's request for comment.

The Presidential Records Act requires presidential records be preserved and transferred to the National Archives, which says the law "places the responsibility for the custody and management of incumbent presidential records with the President."

Presidential records can take several forms, including electronic media, like tweets. Trump's penchant for deleting his tweets and re-posting them slightly altered or without typos has raised questions about compliance with the law in the past, and the White House said previously that they have systems to preserve all tweets as presidential records, even deleted tweets.

88 wrote:Have you ever read a news story that explains why the current trade deals are so fair to the U.S.? If so, link me up.

I think most people agree that the U.S. is getting the shit end of the stick in terms of current international trade deals. It has been that way for decades. But any effort by the U.S. to address that injustice immediately results in international whining and bitching, which is supported by the globalists on the left in this country.

I don't think Trump will get much change. If he does, he's a better negotiator than I give him credit for being. But it is interesting to watch.

European trade officials have previously threatened to respond to Trump's move with duties on U.S.-made motorcycles, orange juice and bourbon, among other things.

Goober McTuber wrote:Most oppose them, including "101 GOP lawmakers who wrote to the White House objecting to the steel and aluminum tariffs".

Joe in PB wrote:

Goober McTuber wrote:Most oppose them, including "101 GOP lawmakers who wrote to the White House objecting to the steel and aluminum tariffs".

The same law makers who receive large campaign contributions from corporations importing steel and aluminum?


Sent from my SM-N910V using Tardtalk

Trade adviser Peter Navarro told “Fox News Sunday” that “there is a special place in hell for any leader that engages in bad faith diplomacy” with Trump.

SINGAPORE (Reuters) - U.S. President Donald Trump fired off a volley of tweets on Monday venting anger on NATO allies, the European Union and Canadian Prime Minister Justin Trudeau in the wake of a divisive G7 meeting over the weekend.

The escalating clash over trade between Washington and some of its closest global partners cast a cloud over Trump’s efforts to make history in nuclear talks in Singapore on Tuesday with Kim Jong Un of North Korea, one of America’s bitterest foes.

Having left the Group of Seven summit in Canada early, Trump’s announcement that he was backing out of the joint communique torpedoed what appeared to be a fragile consensus on the trade dispute between Washington and its top allies.

“Fair trade is now to be called fool trade if it is not reciprocal,” said Trump, who flew from Canada to Singapore on Sunday to prepare for the first-ever summit between a U.S. and North Korean leader.

“Sorry, we cannot let our friends, or enemies, take advantage of us on trade anymore. We must put the American worker first!”

The communique, which had appeared to have papered over the cracks that surfaced so uncharacteristically at the G7, said the leaders of the United States, Canada, Britain, France, Italy, Germany and Japan were agreed on the need for “free, fair, and mutually beneficial trade” and the importance of fighting protectionism.

“We strive to reduce tariff barriers, non-tariff barriers and subsidies,” the statement said, which came despite Washington appearing intent on taking more punitive steps on trade.

Trump’s extraordinary outburst on Monday against NATO allies, the European Union and Canada appeared aimed at striking a chord with voters who support his “America First” agenda.

At the same time, however, it put Trump in the position of going into a crucial summit at odds with countries he needs on his side to pressure North Korea to move toward dismantling a nuclear arsenal that threatens the United States.

“Not fair to the people of America! $800 billion trade deficit,” he said. “Why should I, as president of the United State, allow countries to continue to make massive trade surpluses, as they have for decades, while our farmers, workers & taxpayers have such a big and unfair price to pay?”

It was left to Trump’s aides to figure out how to explain Trump’s airing of grievances against trading partners instead of focusing on his coming talks with Kim, which the president’s supporters hope will provide him with a major foreign policy win.

IRRITANTS WILL BE OVERCOME

Secretary of State Mike Pompeo praised European countries for helping to bring about the North Korea summit, alluding to their enforcement of sanctions against Pyongyang. He expressed confidence that U.S. relations with other G7 countries would continue to move forward, despite the weekend clash in Canada.

“There are always irritants in relationships,” Pompeo told reporters. He dismissed as “ludicrous” the notion that Kim would decide he could not trust the United States because of the G7 dispute.

White House spokesman Raj Shah said Trump was “rattling the cages right now on trade,” insisting there was no reason to believe there would be any negative fallout for the North Korea summit. “These are really unrelated baskets of issues.”

But one U.S. official, speaking on condition of anonymity, acknowledged: “The timing for all this is not very good at all.”

The prospect that Trump could be moving toward an even greater protectionist trade policy is likely to chill financial markets worried about tit-for-tat escalation that could lead to a full-blown global trade war.

“Business confidence, and subsequently capital spending, is at risk if this tension continues through the summer,” said Tai Hui, J.P. Morgan Asset Management Chief Market Strategist for Asia Pacific. “This could cast a long shadow over global growth, which has rebounded in recent weeks after a soft start to the year.”

Nevertheless, markets were relatively calm on Monday after an early wobble.

Trump also lambasted fellow members of the North Atlantic Treaty Organisation (NATO) for paying disproportionately less than the United States to maintain the Western alliance.

“The U.S. pays close to the entire cost of NATO - protecting many of these same countries that rip us off on trade (they pay only a fraction of the cost - and laugh!),” he tweeted. “The European Union had a $151 billion surplus - should pay much more for military!”

“Germany pays 1 percent (slowly) of GDP towards NATO, while we pay 4 percent of a much larger GDP. Does anybody believe that makes sense?”

“We protect Europe (which is good) at great financial loss, and then get unfairly clobbered on trade. Change is coming!”

Trump also renewed attacks on Canadian Prime Minister Justin Trudeau, who had hosted the G7 meeting in Quebec.

“Justin acts hurt when called out!” the U.S. president said in his latest Tweet. On Saturday, he called the Canadian prime minister “very dishonest and weak.”

PLACE IN HEAVEN

White House economic adviser Larry Kudlow accused Trudeau of betraying Trump with “polarizing” statements on trade policy that risked making the U.S. leader look weak ahead of the historic summit with Kim.

“(Trudeau) really kind of stabbed us in the back,” Kudlow, the director of the National Economic Council who had accompanied Trump to Canada, said on CNN’s “State of the Union.”

Trade adviser Peter Navarro told “Fox News Sunday” that “there is a special place in hell for any leader that engages in bad faith diplomacy” with Trump.

Pompeo, at the Singapore briefing, pointedly ignored a reporter’s question about Navarro’s comment and left the podium while he was being pressed for an answer.

Trudeau, in Quebec City for bilateral meetings with non-G7 leaders after the summit, did not comment as he arrived.

But he got direct personal support from some European leaders.

British Prime Minister Theresa May “is fully supportive” of Trudeau and his leadership, a senior UK government source said, while European Council President Donald Tusk tweeted: “There is a special place in heaven for @JustinTrudeau.”

Papa Willie wrote:

Well - your life is already ruined

Mikey wrote: I live in paradise...

Shlomart Ben Yisrael wrote:

Mikey wrote: I live in paradise...

A paradise gilded with the blood and sweat of millions of undocumented workers toiling for peanuts so fat lower-class credit-jockeys like you can pretend to live a bourgeois existence.
Your society is a menagerie of unpayable loans and a debt burden upon people who haven't even been born yet. But you can have anything you want by just slapping a piece of worthless plastic on the counter top.

88 wrote:So none of you have a better idea than tariffs? Goobs suggested that you negotiate. That is rich. Here how that goes.

US: We want to renegotiate NAFTA.

CA/MX: Go fuck yourself.

US: Uh, we really want to renegotiate NAFTA. It is not a fair trade deal.

CA/MX: Are you not listening? We said go fuck yourself.

Now what do you do?

A. Whine, and do nothing about the bad trade deals.

B. Apply retaliatory tariffs that hurt everyone (agreed), but be willing to withdraw them if good faith negotiations occur.

Shlomart Ben Yisrael wrote:

Mikey wrote: I live in paradise...

A paradise gilded with the blood and sweat of millions of undocumented workers toiling for peanuts so fat lower-class credit-jockeys like you can pretend to live a bourgeois existence.
Your society is a menagerie of unpayable loans and a debt burden upon people who haven't even been born yet. But you can have anything you want by just slapping a piece of worthless plastic on the counter top.

Derron wrote: Jealous because Mikey and SoCal have bode on over the top excessive everything.

Shlomart Ben Yisrael wrote:

Derron wrote: Jealous because Mikey and SoCal have bode on over the top excessive everything.

We have Messicans come up here to Canada too...but typically those Messicans aren’t interested in ghettoising with other Messicans. They're actually trying to get away from Messico and all things Messican. They seem to be a much more entrepreneurial breed than the border jumpers you guys get.

88 wrote:So none of you have a better idea than tariffs? Goobs suggested that you negotiate. That is rich. Here how that goes.

US: We want to renegotiate NAFTA.

CA/MX: Go fuck yourself.

US: Uh, we really want to renegotiate NAFTA. It is not a fair trade deal.

CA/MX: Are you not listening? We said go fuck yourself.

Now what do you do?

A. Whine, and do nothing about the bad trade deals.

B. Apply retaliatory tariffs that hurt everyone (agreed), but be willing to withdraw them if good faith negotiations occur.

Mikey wrote: My kids' high school was about 40% Latino. Most of your "border jumpers" don't actually stay around here.

Papa Willie wrote:

Mikey wrote:

Papa Willie wrote:

Well - your life is already ruined

My life is a helluva lot better than yours.

I live in paradise, I have a low mortgage payment, and I don't look to a lying racist misogynist with the mental age of a six year old for affirmation.

Everything I own is paid for, I don't live around a bunch of dick-spattered freaks, and I'm not talking about moving to another state. Plus - I don't act like I've got Alzheimer's.

Shlomart Ben Yisrael wrote:

Derron wrote: Jealous because Mikey and SoCal have bode on over the top excessive everything.

We have Messicans come up here to Canada too...but typically those Messicans aren’t interested in ghettoising with other Messicans. They're actually trying to get away from Messico and all things Messican. They seem to be a much more entrepreneurial breed than the border jumpers you guys get.