And so...the "recession" begins

The latest is that as of midnight tonight China will be imposed with 104% tariffs.

It gets to the point where escalation beyond a point makes no difference. 104% tariffs may as well be 2,000% tariffs. Increases like this and similar levels of retaliative 'countermeasure' tariffs become almost irrelevant. Then throw into the mix the potential of escalating tariffs between other singular nations; nation bloc's, and the US. At this rate, international trade between the US and the rest of the world will become completely non-existent.

In the meantime, the rest of the world continues to trade with each other. In a world where nations are discussing turning away from the US and redirecting their trade toward other nations. And where significant numbers of people say they aren't going to buy American anymore.

This is the ultimate isolationism.

Or is it? Perhaps it's more like an international game of chicken. One player is potentially against the whole of the rest of the world at the same time. Who has the most to lose?
 

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Magna-Carta said:
The latest is that as of midnight tonight China will be imposed with 104% tariffs.

It gets to the point where escalation beyond a point makes no difference. 104% tariffs may as well be 2,000% tariffs. Increases like this and similar levels of retaliative 'countermeasure' tariffs become almost irrelevant. Then throw into the mix the potential of escalating tariffs between other singular nations; nation bloc's, and the US. At this rate, international trade between the US and the rest of the world will become completely non-existent.

In the meantime, the rest of the world continues to trade with each other. In a world where nations are discussing turning away from the US and redirecting their trade toward other nations. And where significant numbers of people say they aren't going to buy American anymore.

This is the ultimate isolationism.

Or is it? Perhaps it's more like an international game of chicken. One player is potentially against the whole of the rest of the world at the same time. Who has the most to lose?
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Looks like the concept of America First may be ultimately turning into America Only. Time will tell.
 

dilettante said:
No child loves being weaned off the teat. But Momma's going back to work and the time has come.
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Insulting much. :mad:

Australians have been steadfast allies with US in just about every conflict since Pearl Harbour.
We have never been hostile in any way and our economy is well developed.
We are not children feeding on Mother USA.

I reckon the Canadians could say the same thing. They have been directly attacked by their nearest neighbour.
It is outrageous. :mad::mad::mad:
 
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mathjak107 said:
many companies have cancelled huge contracts with american companies and struck new deals with european countries to supply them .

LINDT chocolate to mention just one

this has turned into a war .

its an actual war with goods and services acting as missiles and bombs .

we declared war on the world
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That's exactly what it looks like from my perspective. The economies of the world are uniting to fight back.
 
mathjak107 said:
many companies have cancelled huge contracts with american companies and struck new deals with european countries to supply them .

LINDT chocolate to mention just one

this has turned into a war .

its an actual war with goods and services acting as missiles and bombs .

we declared war on the world
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But Lindt chocolate has always supplied the UK and Europe....they are after all a European company
 
"Stay calm and carry on" was a war time slogan in UK during the Blitz.
It has value in today's economic uncertainty.

Australia is now in the midst of a federal election campaign. It appears to me that the Opposition Leader has been snookered by the US Tariff measures. He had been planning to take a leaf out of the successful election strategies of the current POTUS. These are now poison for all Australian political parties except for a ratbag group set up by Clive Palmer, an Australian billionaire. He has sponsored candidates in every national electorate under the banner "Trumpet of Patriots". Doesn't leave much to the imagination, does it?

Doesn't really work in this country. If he wins even one seat it will be a miracle.

In comparison, our rather lacklustre Prime Minister now looks like a soccer player lolloping down towards an open goal.

I do like our current Treasurer. He embodies the Stay Calm and Carry of school of government.

This link has footage of him calmly assessing the current global turmoil in characteristic fashion, and I thought some Seniors members might like to hear what he has to say. You will need to scroll down quite a bit to see it. It is under the heading What it means for Australia.

What Trump's tariffs mean for possibility of recession in Australia
 
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bobcat said:
Yes. I am a fan of the free market. If the president wants to publicly give reasons why I shouldn't buy other countries products, that's fine, but if I don't agree with him, then I shouldn't be penalized (Taxed) if I choose to shop for their products.

I don't have any beef with Canadians, or the general populus of Mexico who are just trying to earn a living. If I don't like something they're doing, then I may not buy their products, but at least it's my choice. I happen to like trading partners and staying on good terms with them (especially when they are neighbors), unless they give me a reason. Then it's up to me (No penalty necessary).
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EDIT: Sorry, deleted --seriously off topic

Good luck with that. bobcat
 
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It's not as if we haven't had thread after thread on the pinch of inflation, shrinkflation, taxes, product scarcity, Social Security concerns, the stock market, insurance, housing prices, etc. here.

Oh wait, we have. And well before 2025.
 
dilettante said:
It's not as if we haven't had thread after thread on the pinch of inflation, shrinkflation, taxes, product scarcity, Social Security concerns, the stock market, insurance, housing prices, etc. here.

Oh wait, we have. And well before 2025.
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Yes, but most were due to Covid, so sending the economy into a tailspin without a disastrous event is pretty new I'd say.
 
I'm not sure how else globalization can be undone though. US working families have suffered more every year since the end of WW II. Politicians have paid lipservice to the problem for many decades, now something is being done.

Economy in a tailspin? No, Wall Street is not the economy.
 
seadoug said:
Yes, but most were due to Covid, so sending the economy into a tailspin without a disastrous event is pretty new I'd say.
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Agree and things like a tariff on Brazil and Colombia which sell us coffee yet we do not produce / export coffee thus only raising prices is typical of this guy .

there is a tiny farm in Hawaii which does produce coffee but limited only for our market as they produce so little so not like they are competing with imports . .
 
Who_so_ever said:
I don't rely on sites aka "news". I would have to see a detailed receipt for the actual 'cost'. Trust no one.

ETA: trips to his Summer Whitehouse are no different than previous people's trips to Camp David. Possibly, they cost more per visit?
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Fair enough but I would think you will agree that with not just transportation but Secret service , etc these golf trips cost let's say over a million each and he plays a lot which again I do not care but cut backs due to ' NO MONEY " for needy Citizens is bit hypocritical.

''USDA cuts hit food banks, risking hunger for low-income Americans''​

https://www.reuters.com/world/us/tr...sking-hunger-low-income-americans-2025-03-25/
 
dilettante said:
I'm not sure how else globalization can be undone though. US working families have suffered more every year since the end of WW II. Politicians have paid lipservice to the problem for many decades, now something is being done.

Economy in a tailspin? No, Wall Street is not the economy.
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In 2024, approximately 62% of U.S. adults reported owning stocks, though this is a figure that has fluctuated
and is the highest since 2008. It is retirement security boosters for many Americans today.
 
Liberty said:
In 2024, approximately 62% of U.S. adults reported owning stocks, though this is a figure that has fluctuated
and is the highest since 2008. It is retirement security boosters for many Americans today.
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I have some exposure myself, but if you can't handle volatility maybe you should be invested in more conservative things or get out entirely.
 
NotCompSavy said:
Fair enough but I would think you will agree that with not just transportation but Secret service , etc these golf trips cost let's say over a million each and he plays a lot which again I do not care but cut backs due to ' NO MONEY " for needy Citizens is bit hypocritical.

''USDA cuts hit food banks, risking hunger for low-income Americans''​

https://www.reuters.com/world/us/tr...sking-hunger-low-income-americans-2025-03-25/
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How about comparing his days in residence versus previous ones, their current coverage and the one of their extended families?
 

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