After dropping over 700 points at one point yesterday following China’s announcement they would raise tariffs on U.S. imports in retaliation for Trump’s plan to raise tariffs on China imports, the Dow eventually closed down 617 points — the second-largest one-day drop in 2019 so far.
In response, Trump fired off a series of tweets that demonstrated his ignorance of how trade and economics works by repeating his provably false claim that US consumers don’t need to worry about paying his tariffs because China will pay them. Ironically, in the same tweet he simultaneously admitted tariffs are paid by consumers by suggesting they can be avoided if “you buy from a non-Tariffed Country.”
…completely avoided if you buy from a non-Tariffed Country, or you buy the product inside the USA (the best idea). That’s Zero Tariffs. Many Tariffed companies will be leaving China for Vietnam and other such countries in Asia. That’s why China wants to make a deal so badly!…
— Donald J. Trump (@realDonaldTrump) May 13, 2019
The simple fact is Trump’s trade war has created an economic hell since he launched it in January 2018 with tariffs on solar panels and washing machines.
Despite claims to the contrary, tariffs are hitting consumers hard. How hard? According to a recent estimate by the National Taxpayer’s Union Foundation, the annual cost of Trump’s tariffs will be $41.65 billion next year — exceeding the taxes Americans will pay for Obamacare ($34.6 billion).
The cost to consumers was confirmed over the weekend by Trump’s economic advisor Larry Kudlow in an appearance on FOX News Sunday. When host Chris Wallace pointed out how US consumers and businesses pay the tariffs, Kudlow replied, “Yes, to some extent. Yes, I don’t disagree with that.”
I wonder how long before Kudlow is thrown under the bus and gets canned.
Considering this economic reality, you’d think some of the so-called conservatives in Congress would at the very least call on Trump to do the job they’re supposed to do under the Constitution and end the trade war. Alas, in the Age of Trump, where Trumplicans and Trumpservatives now run the Party of Raegan, there’s no reason think anyone will stand up to Trump.
In fact, if you’re a spineless coward Republican running for re-election in 2020, you’ll not only support and defend Trump, you’ll go so far as to belittle and make light of those suffering from his trade war.
Sounding like a classic Washington elitist out of touch with his constituency, Sen. Lindsey Graham tweeted over the weekend that he stands behind Trump and his trade war because “when it comes to China, we must be willing to accept short-term pain for long-term gain.”
When it comes to China, we must be willing to accept short term pain for long term gain.
Stick to your guns Mr. President. We’re behind you!
— Lindsey Graham (@LindseyGrahamSC) May 10, 2019
Another elitist running for re-election is Sen. Tom Cotton. Yesterday, in an appearance on CBS This Morning, he drew a parallel between economic suffering and soldiers killed in battle and essentially called those suffering from the trade war unpatriotic if they didn’t support it.
"There will be some sacrifice on the part of Americans, I grant you that. But also that sacrifice is pretty minimal compared to the sacrifices that our soldiers make overseas that are fallen heroes or laid to rest," @SenTomCotton on trade war with China pic.twitter.com/lqlEZtaeBs
— CBS This Morning (@CBSThisMorning) May 13, 2019
I did find one bright light over the weekend in a tweet from Rep. Justin Amash where he pointed out how Trump’s love of tariffs means he “loves collecting big taxes on Americans.”
— Justin Amash (@justinamash) May 12, 2019
Talk like that is one reason I support Amash’s possible run for president in 2020.
The cost of Trump’s trade war is no longer hidden, but according to Trump and the GOP the suffering is minimal, so shut up! Besides, with an election coming up, nobody will do anything to stop it anyway.
Originally posted on StridentConservative.com.
David Leach is the owner of The Strident Conservative. His daily radio commentary is distributed by the Salem Radio Network and is heard on stations across America.
Gary Vaynerchuk never talks about politics, but he’s great when he does
Language warning, in case you’ve never listened to Gary Vaynerchuk before. I have, and he’s great.
Those who know of Gary Vaynerchuk think of wine, social media, and digital strategy. The Belarusian American entrepreneur has been an outspoken advocate of all things “віно і маркетинг” for over a decade, but he rarely speaks about politics.
Recently, he did, and one prediction in particular caught my eye.
The way he sees it, both major parties are pushing to the extremes on the ideological scale, opening up spots for moderate progressives and moderate conservatives to have major parties of their own. This is the case in most countries; the United States is one of the few that has a true two-party system despite the fact that most of our founding fathers didn’t want it to turn out this way.
John Adams said:
There is nothing which I dread so much as a division of the republic into two great parties, each arranged under its leader, and concerting measures in opposition to each other. This, in my humble apprehension, is to be dreaded as the greatest political evil under our Constitution.
But Vaynerchuk, who has built a career around being write much more often than he’s wrong, says the opening is already being seen today. He railed against both parties, blaming both Presidents George W. Bush and Barack Obama for poorly handling the financial crisis of the late 00s.
Millions have learned over the years to listen to Gary Vaynerchuk when he’s offering opinions. Though his political opinions are few and far between, there’s a wisdom to them you don’t hear from the pundits. It’s authentic, a rare quality indeed.
Petition Capitol Hill for Term Limits
Sign the petition. We demand Congress immediately put together legislation that spells out term limits for themselves. Americans need to know who is willing to suppress their own power for the sake of the nation. This can only happen by bringing legislation to the floor.
Will you help revive the American Conservative Movement?
Charlie Kirk: Capitalism saves lives
I’m normally not a fan of quick bursts of talking points, preferring longer, fact-filled discussions on topics as important as capitalism versus socialism. With that said, Turning Point‘s Charlie Kirk knocks it out of the park with talking points that totaled 33 seconds.
But even though the video was short, this article will take a bit longer to read. I’m not going to talk about the clear evidence that capitalism is far superior to socialism (or any other economic -ism). Instead, I’d like to focus on the challenge pro-capitalism activists face. Our message is right, and for the most part our nation accepts this. But things are changing. The indoctrination in schools combined with the propaganda in mainstream media and the false narratives from Democrats are all combining to deceive the masses in ways many thought impossible just a few years ago.
Would you have thought over 50% of college students would support socialism over capitalism at any point in American history if someone told you that a decade ago? If you would have, you’re much smarter than me. I couldn’t imagine the will of the people being so misled that many would abandon the system that has clearly worked in exchange for a system that has never worked. It makes no sense, and therein lies the problem with the progressive movement today.
As our EIC noted, logic doesn’t always prevail.
Today's radical progressives (which represents a rapidly growing segment of the Democratic Party) have a very hard time with logic, reason, facts, and most importantly, #truth. For example, capitalism works wonderfully when government allows it, but socialism's popular is rising.
— JD Rucker (@JDRucker) May 17, 2019
We must, as conservatives, continue to push out the right message. We might think it’s commons sense, but apparently common sense is becoming less common in America. We need to keep pushing.
Executive order targeting Huawei is the right move at the right time
American technology companies, particularly those in the telecommunications industry, have been fools for far too long. While China as actively and aggressively sought to not only steal our technology but subvert it by inserting their own untrustworthy components into our systems, many American companies have turned a blind eye to the threats they pose to every American.
That won’t happen anymore. President Trump signed an executive order defending against technological attacks by the Chinese and specifically targeted Huawei, the Chinese telecomm giant that has been inserting itself rapidly into as many technological conversations as it can all across the world.
I commend @realDonaldTrump for taking steps to secure next-gen telecom infrastructure. Shielding #5G networks from @Huawei’s threat is critical & I urge POTUS to use these new authorities as necessary to ensure our networks are protected. https://t.co/zUnl4FxFZJ via @whitehouse
— Senator Ted Cruz (@SenTedCruz) May 15, 2019
The right move
There are certain aspects of protectionism that do not appeal to me, but when it comes to technological protectionism, I’m all in. For years I’ve done what I can to limit the amount of Chinese technology in the devices I use for one simple reason: I don’t trust them.
Yes, they’re cheaper. But they’re also cheaper in the way they’re produced. Though China has made many technological advances in recent years (much of which can likely be attributed to theft of technology from other countries), they’re still behind in most regards compared to Japanese, Korean, Israeli, Australian, and European technologies. But that’s not a huge deal at this point; you get what you pay for and if certain sacrifices to quality make sense, so be it as long as it’s cheaper.
But there’s a nefarious aspect to the way the Chinese have inserted their technologies into the global mix. China has a very poor track record of obeying international laws, adhering to security protocols, and believing in the right to privacy. In China, there is no privacy which is why their technology often bypasses privacy controls put in place to protect individuals.
With the growing 5G infrastructure at the center of this move, now is not the time to take risks. If Huawei cannot be trusted, then 5G is the last place we want them involved.
I’m not a fan of executive orders, either, but this is one that makes sense since it’s a dynamic topic that moves much faster than Congress can handle and it’s administrated solely by the executive branch.
The right time
It’s obviously not a coincidence that this executive order was signed just as the trade war with China is ramping up. As our EIC noted, we’re in a time when we must use full measures to win this war. I’m not a fan of tariffs, but if we’re going to use them, let’s make them effective and get rid of them as quickly as possible.
This is just another arrow slung at the Chinese in that trade war. It may be technically separate and it’s hard to imagine this is another bargaining chip, but it will cause further harm to the Chinese economy, making it more likely they’ll come to the table ready to make a deal.
We’ve reached a moment in history where technology can have catastrophic effects on the lives of nearly every American if the wrong actors are allowed to run free in our infrastructure. This is a step towards safeguarding us from the threats.
Democrats imperiled whether they impeach or not
Bilderberg 2019 location remains secret less than a month out
The myth of overturning Roe v Wade
Top 5 ‘assault weapon’ technologies that existed BEFORE the Constitution was written
The rise of citizen journalists
Strait is the gate and narrow is the way: Churches, stop pushing a ‘wide gate’ doctrine
Did Jesus die exactly 1000 years after King David died?
The sons of God in Genesis 6 were not the sons of Seth (and Nephilim were really giants)
True inclusion is narrow and pure as Matthew 7 teaches
Jude 1:21 – ‘in the love of God’
Proverbs 4:18 – ‘path of the just’
Exodus 20:8 – ‘the sabbath day’
Luke 5:31-32 – ‘sinners to repentance’
John 3:16 – ‘everlasting life’
Culture and Religion1 day ago
How Alabama’s abortion law sets President Trump up to be a pragmatist
Culture and Religion2 days ago
Is the Shroud of Turin the burial cloth of Jesus?
Guns and Crime1 day ago
Two separate illegal aliens with child sexual crime felony convictions caught crossing the border again
Culture and Religion1 day ago
7 life lessons we can learn from Daniel’s example
Guns and Crime2 days ago
Illegal alien Billy Chemirmir charged in 12 murders, was never ordered for deportation
Culture and Religion2 days ago
17 years later, Paul Washer’s shocking message still holds true
Conspiracy Theory22 hours ago
What does San Francisco Mayor London Breed have to hide about Jeff Adachi’s death?
Guns and Crime2 days ago
Thomas Massie exposes the many problems with Red Flag Gun Laws