Some advice for the haters

Cliff Notes (™) version: doublespeak on tariffs must be answered with facts.

One quick housekeeping item under the ‘advice’ umbrella:

I appear to have a couple of trolls following me. One appears to be a former DOD bureaucrat.

I was called a FASCIST in the comments section of one of my posts, which is hilarious for obvious reasons. Marxists say the funniest things.

ADVICE: Don’t engage with trolls. Starve them of attention. Please feel no need to defend me or debate them. They’re retards.

BUT, BACK TO OUR REGULARLY SCHEDULED TOPIC...

If you find yourself surrounded by willfully ignorant people — be they ‘normies’ or rabid goober Leftists (the former Occupy Wall Streeters) — who whine, moan, rant, melt down over the stock market’s reset, show them this.

Treasury Secretary Yellen on why Biden is targeting Chinese manufacturing with new tariffs

May 14, 2024 6:45 PM EDT

• Amna Nawaz:

  So, as you have seen, there have been some experts, some groups, the National Retail Federation among them, who have expressed concerns that it will be U.S. consumers who eventually end up paying for these tariffs.
  

  As you know, polling shows that rising prices are voters' biggest concern right now. So I'd ask you to speak directly to them. Will American consumers bear the cost of these tariffs?
  

• Janet Yellen:

  I don't believe that American consumers will see any meaningful increase in the prices that they face.

  President Biden announced tariffs on roughly $18 billion of imports from China. They're very carefully targeted at sectors that we're supporting through legislation that President Biden passed with Congress, the clean energy sector, semiconductors, sectors where we consider it critical to create good jobs.
  

  We're seeing massive investment in manufacturing in these areas. And we think it's very important to protect our workers and our firms in these strategic sectors from the kind of dumping that results when China develops massive overcapacity in these areas.
  

  And we're not alone. Japan and Europe, Mexico, India, Brazil, South Africa, other countries are all concerned. These are areas where the investments that we're making will ultimately result in lower prices.
  

• Amna Nawaz:

  I hear you saying they could ultimately end in lower prices, but you mentioned that consumers may not see any meaningful price increase.
  

  Does that mean that people should brace for potentially some price increase?
  

• Janet Yellen:

  I don't think that anything will occur here that would be noticeable to the typical American family.
  

  Mainly, these tariff increases serve to protect firms and workers that are being supported by the incentives, the tax incentives, and other incentives in the semiconductor and CHIPS Act and Inflation Reduction Act. These are sectors where American firms are gearing up production, are very able to compete, but they face an unlevel playing field...
  

• Amna Nawaz:

  This does represent an escalation in what's been a sort of tit for tat with China.
  

  And we should mention we got a statement from the Chinese Embassy here, in which they said that these are false narratives of overcapacity, as you mentioned earlier, made, in their words, to hinder China's high-quality development and scapegoat for their own — for the U.S.' own problems.

  Are you worried about Chinese retaliation?
  

• Janet Yellen:

  I hope that the Chinese react in a rational way to what is a very targeted set of actions.
  

  We have a deep trade and investment relationship with China. We think most of it is beneficial both to America and also to China, and most of it is unproblematic and uncontroversial. And, at this point, China's capacity to produce, say, solar panels is twice global demand for these panels.
  

  And what that means is that prices will drop to levels that make American firms uncompetitive. And I have made our concerns in this area very clear. I have been very straightforward and public about it, so this should not be a surprise. And China itself has mentioned that it is concerned about overcapacity.

You can watch these clips here.

The Biden stock market was smoke & mirrors. The façade of an economy was propped up by unfettered government spending, which included the creation of government ‘jobs.’

Trump had NO choice but to break what was broken. He was handed a mountain of turd 💩 that piled up exponentially, every second, for decades.