Trump announces steel and aluminum tariffs, stock markets take a tumble

[jbluhm86]

Marketwatch: Here’s why the stock market took the Trump tariff announcement so hard

Daily Wire: Trump Threatens To Raise Steel And Aluminum Tariffs. Here Are Three Reasons That's An AWFUL Idea.

[DieHardBrownsFan]

Trump is right on this.  MAGA.

[jbluhm86]

56 minutes ago, DieHardBrownsFan said:

Trump is right on this.  MAGA.

Really? How so?

[DieHardBrownsFan]

[TexasAg1969]

Ok now we have an official Trump induced stock market drop. Going against every decent economic advisor he has and certainly against any well thought out infrastructure plan. Economy will dump, $ will drop and inflation will take hold to destroy any tax break you thought you were getting. Buy gold now or pray it's just more blathering from the blithering idiot.

[calfoxwc]

[DieHardBrownsFan]

Donald J. Trump — President of the United States

33 mins · 

We must protect our country and our workers. Our steel industry is in bad shape. IF YOU DON’T HAVE STEEL, YOU DON’T HAVE A COUNTRY!

[Canton Dawg]

1 hour ago, TexasAg1969 said:

Ok now we have an official Trump induced stock market drop. Going against every decent economic advisor he has and certainly against any well thought out infrastructure plan. Economy will dump, $ will drop and inflation will take hold to destroy any tax break you thought you were getting. Buy gold now or pray it's just more blathering from the blithering idiot.

Buy gold...why would you want to do that?

[jbluhm86]

25 minutes ago, DieHardBrownsFan said:

Donald J. Trump — President of the United States

33 mins · 

We must protect our country and our workers. Our steel industry is in bad shape. IF YOU DON’T HAVE STEEL, YOU DON’T HAVE A COUNTRY!

Except...the US steel industry isn't in that bad of shape at all:

1. The American Steel Industry Is Doing Well. In 2016, the steel industry boomed thanks to dramatically increased car sales; Nucor, the nation’s leading steel manufacturer, did $16 billion in sales that year. And last year, it’s net earnings increased 65%. The average salary at the company is $80,000; most job loss has occurred thanks to technological advances, not thanks to foreign trade. Nucor’s stock price in 2000 was around $12; today it’s $65. US Steel boomed in 2017; in Q4 of 2016, net earnings were $47 million, but by Q4 of 2017, net earnings were $136 million. Steel Dynamics showed an operating income of $1.1 billion. American production of raw steel has been more or less steady since approximately 1980...As CATO Institute trade lawyer Scott Lincicome points out, U.S. producers control 70% of the steel market, U.S. steel production rose 5% last year, there are already 160 duties on steel imports, China ranks 11th in steel importation into the United States, we have no defense need for tariffs to preserve the steel industry.

[jbluhm86]

37 minutes ago, Canton Dawg said:

Buy gold...why would you want to do that?

To hedge against sudden depreciation of paper currencies and the volatility of the stock market...like when the stock market drops -1100 points in 3 days due in part to a buffoon talking about trade tariffs, for example.

[Canton Dawg]

12 minutes ago, jbluhm86 said:

To hedge against sudden depreciation of paper currencies and the volatility of the stock market...like when the stock market drops -1100 points in 3 days due in part to a buffoon talking about trade tariffs, for example.

And gold is a commodity, and you're trying to tell me that its price doesn't fluctuate?

Sorry, I've made a killing on stocks & bonds over the years and to hedge your future on 1 single commodity is ludicrous.

[TexasAg1969]

11 minutes ago, Canton Dawg said:

And gold is a commodity, and you're trying to tell me that its price doesn't fluctuate?

Sorry, I've made a killing on stocks & bonds over the years and to hedge your future on 1 single commodity is ludicrous.

I was being factious. Gold is what you need for the Zombie Apocalypse. We're getting closer though.

https://www.ft.com/content/7b354ff8-1d73-11e8-aaca-4574d7dabfb6 

Besides this kind of silver might be more functional. 

 

 

 

[Canton Dawg]

2 minutes ago, TexasAg1969 said:

I was being factious. Gold is what you need for the Zombie Apocalypse. We're getting closer though.

https://www.ft.com/content/7b354ff8-1d73-11e8-aaca-4574d7dabfb6

 

I remember working with a guy back in 1999, and he was concerned about the impending Y2K computer bug.

He bought up a bunch of gold prior to New Years Day 2000.

Guy lost a sh!tload of money, when he tried to get it exchanged for greenbacks.

[TexasAg1969]

1 minute ago, Canton Dawg said:

I remember working with a guy back in 1999, and he was concerned about the impending Y2K computer bug.

He bought up a bunch of gold prior to New Years Day 2000.

Guy lost a sh!tload of money, when he tried to get it exchanged for greenbacks.

He should have kept it until about 2010 or 2011.

 

[DieHardBrownsFan]

Gold is what you need for the Zombie Apocalypse.  We're getting closer though.

 

[jbluhm86]

11 minutes ago, Canton Dawg said:

And gold is a commodity, and you're trying to tell me that its price doesn't fluctuate?...

Check my response, where did I say that it doesn't fluctuate? It does, but less so than fiat currencies, bonds, and stocks. That's why people buy it to use as a hedge during economic downturns.

11 minutes ago, Canton Dawg said:

Sorry, I've made a killing on stocks & bonds over the years and to hedge your future on 1 single commodity is ludicrous.

Again, where did I say to invest in one single commodity? As for gold and precious metals, most financial experts advise to keep around 10% or less of savings and investments in gold, although some more paranoid investors bump it up all the way to 25%

[jbluhm86]

3 minutes ago, DieHardBrownsFan said:

Perhaps zombie trump could focus on getting a brain of his own first before trying to go after others.

[TexasAg1969]

PS-I bought one of those Zombuck 1 oz. silver dimes for my daughter as a Xmas gag gift because when she lived in Cal. she always told people that when the Zombie Apocalypse came, her Vietnam Vet dad would come save her.

EDIT: And obviously under Trump it's closer because now she moved back here about 5 min. away.

[Westside Steve]

You've got an ounce of silver? Well hell buddy you're set.

WSS

[Canton Dawg]

4 hours ago, jbluhm86 said:

Check my response, where did I say that it doesn't fluctuate? It does, but less so than fiat currencies, bonds, and stocks. That's why people buy it to use as a hedge during economic downturns.

Again, where did I say to invest in one single commodity? As for gold and precious metals, most financial experts advise to keep around 10% or less of savings and investments in gold, although some more paranoid investors bump it up all the way to 25%

I was a Registered Financial Consultant for almost 15 years, and Jeremy Siegel was one of my favorite instructors.

Dr. Siegel is a finance professor at the Wharton School of Business at the University of Pennsylvania.

His chart of real returns for various investment asset classes, adjusted for inflation, shows what would have happened if you had invested one dollar in 1802 and held it through Dec. 31, 2012. The results:

One dollar invested in Treasury bills would now be worth $282. 

One dollar invested in long-term bonds would now be worth $1,632. 

One dollar invested in the U.S. stock market would now be worth $706,199. 

One dollar invested in gold would now be worth $4.50. 

One dollar placed under a mattress would now be worth only five cents, its value eroded by inflation.

[Canton Dawg]

5 hours ago, TexasAg1969 said:

He should have kept it until about 2010 or 2011.

 

If you bought gold in 2011, you would still be waiting to get a positive return on your investment...timing is everything.

[DieHardBrownsFan]

I bought a unit ring made of 22K gold from Thailand in 1985, It cost I think arount 169 dollars.  Now it is worth almost 2,000.

[BaconHound]

I think the tariffs are a good idea.  You have to see the reaction from the global economy and adjust.  At some point we must begin to transition more towards producers and less from consumers.

[htownbrown]

Can't say I really like this.  But it's happening, Mexico IS going to pay for that wall.

[TexasAg1969]

5 hours ago, htownbrown said:

Can't say I really like this.  But it's happening, Mexico IS going to pay for that wall.

LOL! 

The cost for US to pay for the wall just went down.............................................if we build it out of cardboard rather than 25% more costly steel.

[calfoxwc]

nah, the drug cartels would figure out a way to cut through it.

Make it out of steel. And in that, Mexico WILL end up paying for the wall. We told ya.

These countries have been taking away our companies for decades.

It HAD TO STOP.

MAGA !

[DieHardBrownsFan]

[calfoxwc]

the dirtbag president of the AFL-CIO won't be happy.

[TexasAg1969]

6 hours ago, calfoxwc said:

nah, the drug cartels would figure out a way to cut through it.

Make it out of steel. And in that, Mexico WILL end up paying for the wall. We told ya.

These countries have been taking away our companies for decades.

It HAD TO STOP.

MAGA !

The president of Mexico won't even talk to Trump anymore and our ambassador to Mexico just quit. So explain to me exactly in what universe will Mexico pay for the wall?

[DieHardBrownsFan]