And so...the "recession" begins

Don M.

Don M.

SF VIP
Location
central Missouri
The "tariffs" go into effect today, and we will All feel the effects in coming weeks/months. Actually, the US is being "ripped off" by other nations tariffs which are quite high. Most estimates say that the average household will be paying at least $4,000 a year more for goods than we currently pay. Here is a chart that shows how much the US is currently paying in other nations, compared to what we will be charging them.

https://www.cnbc.com/2025/04/02/trump-reciprocal-tariffs-countries-chart-imports-united-states.html

If this global economic battle continues for any extended length of time, we may be in a real financial mess.
 

gilead said:
I personally will be cutting back on my 'stuff' purchases somewhat. Savings, food & rent will take precedence for the moment.
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Me too, and I did it some time ago. I have little or no desire for more "stuff". I keep looking around the house thinking "What is my grandson going to do with all this stuff? Estate sale? Donation? Dumpster?" Then I remember, "it's not my problem, it's his"!

So the impact of the tariffs on me will be minimal. No plans to ever buy another car or TV or Canadian bacon or French toast or a cheese danish.
 
KSav said:
I'm not sure why you "laughed" at my post, @UpstateGal. This forum has a strict no-politics rule. It's clearly stated on the site.
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@KSav, I removed my reply to your post since I upset you so much. So you win :)

Just on a side note for everyone, any posts started about the economy, taxes, stock market, crime (especially posts directly linked to a current news story, like so many post here) unemployment, social security, education, religion, forms of government, cop haters can all turn into divisive political threads.

All important issues in life are political.

@KSav, maybe you should avoid reading any of the threads with these topics so not to get upset over the rules being broken here on a regular daily basis.
 
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I wonder why the US has placed tariffs on many of the poorest countries in the world, and I wonder what economic threat they might have to arguably the richest country in the world.

Then there are the tariffs placed on Jan Mayen, along with the Heard Islands, and McDonald Islands? Considering no one lives there, what kind of trade do the penguins of the latter two places have with the USA? And will the penguins there retaliate with their own tariffs? I can't help wondering whether the penguins have a monopoly on the trading of high-quality guano!

Will the comedy gold never stop?
 
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Harry Le Hermit said:
According to the World Bank they exported about $1.3 million in 2022... to the U.S.

United States Product Imports from Heard Island and McDonald Isla US$000 1991 - 2022 | WITS Data

I would agree there is something "funny" going on.
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There is certainly something funny going on. Or perhaps even something fishy or penguiny going on?

The link you posted seems to suggest that the US imports from the island, wood; vegetables; clothes & textiles; stone, glass plastic rubber; and mechanical & electrical goods? From an island with no human inhabitants or industrial infrastructure.

Welcome to the Heard Islands, and McDonald Islands, curtasy of Google Maps:

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Magna-Carta said:
There is certainly something funny going on. Or perhaps even something fishy or penguiny going on?

The link you posted seems to suggest that the US imports from the island, wood; vegetables; clothes & textiles; stone, glass plastic rubber; and mechanical & electrical goods? From an island with no human inhabitants or industrial infrastructure.

Welcome to the Heard Islands, and McDonald Islands, curtasy of Google Maps:

View attachment 414433
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If you follow the links, you can see that they export stuff around the world and have for decades. Those pesky penguins seem to have their act together on machinery and electronics. Maybe Apple is shifting from sweat shops in China to a colder clime! Who knows.
 
Harry Le Hermit said:
If you follow the links, you can see that they export stuff around the world and have for decades. Those pesky penguins seem to have their act together on machinery and electronics. Maybe Apple is shifting from sweat shops in China to a colder clime! Who knows.
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Absolutely!

And those of us with a keen eye might be able to see the penguins waiting for a bus to take them to work.

Photos of the Heard Island, and McDonald Islands, in the Antarctic:

GA13810.jpg

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MACKTEXAS said:
The thread probably won't survive over 24 hours.
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Perhaps not. But IMHO there are some things that need to be said and some things that need to be read! This is our life and livelihood we're talking about. Almost everything can be viewed as political when you get right down to it. But as seniors, we need to be aware and kept aware about what's going on with our money!

For instance, there's a very confusing rule about Social Security. Do all of us need to show up at SS offices to verify our identities in person or just people who are just signing up or changing their banks? I've seen articles that say both. Being unaware could cost people their benefits. Should we not be able to warn each other about possible consequences of not abiding by new rules because they may have been instituted due to politics?!

I would hate to see anyone here, especially those who depend solely on SS, be cut off because they weren't warned. I know...there is a very fine line. I'm trying not to cross it....honest. This short rant is not aimed at you or anyone else Mack, it's just my take on the reality we're facing. 😒
 
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Magna-Carta said:
I wonder why the US has placed tariffs on many of the poorest countries in the world, and I wonder what economic threat they might have to arguably the richest country in the world.

Then there are the tariffs placed on Jan Mayen, along with the Heard Islands, and McDonald Islands? Considering no one lives there, what kind of trade do the penguins of the latter two places have with the USA? And will the penguins there retaliate with their own tariffs? I can't help wondering whether the penguins have a monopoly on the trading of high-quality guano!

Will the comedy gold never stop?
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Someone has already posted that over $1 million was exported from there. New tariffs are just plugging the loopholes that someone is using to avoid existing tariffs. Maybe you need to do a little research. No guano.
 
Rather than a Political thread, I would classify this as Financial news. affecting every person on the planet.
How low will the stock markets go? How many people will lose their life savings through investments.
Might be time to cash in those investments and place our money under the mattress.
Seriously thinking about doing exactly that myself.
 
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seadoug said:
As someone else said, it it because finance and politics can no longer be separated. Time to move on.
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Sorry, but that is patently false. For example, you could start a discussion of what US companies would prosper from the new tariffs. Just read an article early today about a Shrimp company that was seeing them as a good thing. i'm sure there are others. Or, if you are so inclined, what can a middle class family do to protect themselves from the negatives.

And I guess if you are unable to discuss finance without politics, yes, you need to move on.
 

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