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Currently Browsing: Economics

Trump’s Steel Tariffs Will Damage the US Economy

Last week President Trump announced that he was putting a 25% tariff on all imports of steel to the US, and 10% on all imports of aluminium. There would be no exceptions. The announcement was quite sudden, with virtually no consultation. Trump is making the move using what the Council on Foreign Relations describes as “a little-used 1962 trade law.” His Chief Economic Advisor, Gary Cohn,... read more

US Farmers Support Trump as He Screws Them (plus Tweets)

On 8 January Donald Trump sent out three tweets about his latest speech to his base. That day, he spoke at the American Farm Bureau Federation’s convention in Nashville, Tennessee. Most of those in attendance support him strongly, but why? What exactly is Trump doing for his country’s farmers? As far as I can tell, he’s royally screwing them. Trump’s speech (video here) covered the... read more

My Picks for Top Tweets: 28 August 2017

The big news today of course is the storm and flooding in Texas. I find it really hard to get my head around the amount of rain that’s fallen in the area. There are place in NZ that flood quite often, and I’ve been in some biggies in my life, but nothing like this. Tweets cannot do it justice, but I’ll try. I’m also going to indulge myself by using some of my own tweets today. They... read more

Trump Formally Withdraws the United States from TPP

On Monday, Donald Trump signed three memoranda. As a result of the first, the US is no longer part of the Trans-Pacific Partnership (TPP). The second imposes a freeze on hiring federal employees, except for the military. The third order pulls funding from international organisations that discuss or perform abortions. All three policies are damaging to the United States. Imposing a freeze on federal... read more

Why Trump’s Tax Cuts Probably Won’t Create the Jobs He Promises

Donald Trump has been telling everyone that he’s going to cut business taxes to 15% and make up the reduction in federal income by introducing a consumption tax. According to him, this will kick start the US economy and bring back well-paid jobs. He has support for his plan in the Republican House and Senate, so it’s likely to happen in some form. Trickle-Down Economics The Trump formula, at... read more

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