Question for the TTL brigade

[Goober McTuber]

Are you happy with your President Chucklehead picking winners and losers in our economy?

Blockbuster profits: The trade war has cast a shadow over parts of Corporate America, but it is bringing a bit of good fortune to the steel industry.

President Donald Trump's metal tariffs have sent steel prices surging and sparked blockbuster profits for steel manufacturers.

Reliance Steel & Aluminum (RS) hauled in record sales, thanks to an 18% spike in prices. Nucor (NUE) recorded the best second quarter in its history. Its profit more than doubled.

"All in all, we're very happy with tariffs," Nucor CEO John Ferriola told analysts earlier this month.

Those words haven't been uttered by many other corporate bosses, who are grappling with sticker shock.

Tariffs levied by the United States and major trading partners are eating into the profits of Harley-Davidson (HOG), General Motors (GM), General Electric (GE), 3M (MMM) and hundreds of other companies. CEOs are scrambling to raise prices and reshuffle their supply chains.

Unsurprisingly, steel companies are feasting on a price spike from Trump's 25% steel tariff. The benchmark price of US-made steel has zoomed 41% higher since the start of the year to $917 per short ton, according to S&P Global Platts.

Tariffs aren't the only factor. Steel demand is strong in an economy that just clocked its fastest growth since 2014.

Following the booming profits from Nucor and Reliance, US Steel (X) and AK Steel are scheduled to report results this week.

Both steel makers are expected to reveal a jump in revenue, though not by as much as their rivals. That's because US Steel and AK Steel (AKS) are locked into annual contracts that have fixed pricing. Those contracts expire later this year, potentially allowing them to capitalize on the price hikes.

Nucor is seizing on the momentum to plow $1 billion back into its business, a huge increase that will mostly go toward expansion.

"What will happen to our great country if we continue to operate with a massive trade imbalance?" Ferriola asked. "We agree with the administration's efforts to address this issue."

Of course, steel customers are less than thrilled.

Material costs have risen by as much as 50% at FJM Ferro, a Brooklyn company that fabricates steel used in Manhattan skyscrapers.

Steel companies may have record profits, but it does hurt the mom-and-pop shops," said Joe Casucci, FJM Ferro's founder and CEO.

Even large companies are getting squeezed. GM slashed its profit outlook last week, warning of a $300 million jump in commodity costs linked to higher steel and aluminum costs.

"You have to be careful with tariffs because there's always a cost," said Philip Gibbs, a steel analyst at KeyBanc Capital Markets.

He pointed out that spiking US steel prices threaten to make American businesses less competitive. Some companies may eventually try to find other ways to get steel into the country.

"It feels good in the short run as prices go up," Gibbs said. "But then all the customers complain."

[Left Seater]

No. It is wrong when Trump does it, same as Obama or Bush or Clinton et al.

[Rooster]

I read some pundit who described Trump's trade policy as reciprocity, but I'm skeptical. Trade wars are generally bad news. My thinking is if the 2nd quarter showed 4.1% growth, imagine what it could have been if we hadn't choked it with tariffs.

[Shlomart Ben Yisrael]

The trade war has cast a shadow over parts of Corporate America...

Oh no...a shadow over parts of Corporate America?


Guys. Come on...this is serious.
We're talking shadows. Fucking shadows.

[Shlomart Ben Yisrael]

American workers or International Finance Capital.



Pick one.

[Dr_Phibes]

The auto industry couldn't handle tariffs, it'll collapse before it could adjust. Empty threat, his voter base doesn't think ten years down the road - it's what's on the dinner table tonight.

[Softball Bat]

his voter base doesn't think ten years down the road - it's what's on the dinner table tonight.

No kidding.

[Dr_Phibes]

The Liberals know this, so they're sticking to their guns.
To disengage the auto industry from its North American infrastructure would be the equivalent of Brexit. Five years of thinking, then five years of preparatory work, otherwise it would capsize.

[Goober McTuber]

As expected, TTL brigade punts. LS admitted it was wrong-headed....but Obama...but Clinton. Thanks for playing.

[smackaholic]

Trade wars are bad.

For 40-50 years, we have not had trade wars, because a war implies both sides are fighting.

What we have had is more like a trade prison rape, with the US being on the wrong side of it.

Trump has decided this is a bad idea and has decided to cross our trade legs and say STOP!!!!

This cause drama. There will be short term winners and losers.

Hopefully a year from now, we will see open free trade with few if any tariffs and subsidies.

[Goober McTuber]

There will be short term winners and losers.

And President Chucklehead gets to pick them. And to pick which losers he's going to subsidize.

[Screw_Michigan]

Trade wars are bad.

For 40-50 years, we have not had trade wars, because a war implies both sides are fighting.

What we have had is more like a trade prison rape, with the US being on the wrong side of it.

Trump has decided this is a bad idea and has decided to cross our trade legs and say STOP!!!!

This cause drama. There will be short term winners and losers.

Hopefully a year from now, we will see open free trade with few if any tariffs and subsidies.

You are moronically and hopelessly clueless.

[Goober McTuber]

Note the TAD in the last two posts.

Note the TARD in the above post.

[Goober McTuber]

The Trump administration announced this week it’s using a Great Depression-era program to deliver $12 billion in aid to farmers being harmed by a trade war declared by the Trump administration.

“This trade war is cutting the legs out from under farmers, and the White House’s plan is to spend $12 billion on golden crutches,” said U.S. Sen. Ben Sasse, a Republican from Nebraska. “This administration’s tariffs and bailouts aren’t going to make America great again, they’re just going to make it 1929.”

The irony is unavoidable as President Donald Trump’s team seeks to bandage a self-inflicted economic wound of its own making. On Thursday, the president jetted into Dubuque County and insisted to nervous Iowans he’s winning.

“We’re opening things up,” Trump said amid a rambling litany of his efforts to change what he calls the “worst trade deals,” including NAFTA. Pacts that, according to Iowa leaders, have opened up lucrative markets to our farmers and manufacturers. Trump held up a “Make Our Farmers Great Again” hat.

“We hold all the cards. We’re going to win,” Trump said.

Trump’s hollow rhetoric, and the $12 billion aid package, including direct payments to producers and government purchases of surplus commodities, are ominous signs the trade war will rage beyond the fall harvest. Although Trump did take a welcome step back this week from his fight with the European Union, his battle with China, a top market for Iowa goods, shows little sign of cooling.

Damage already is being done as tariffs on farm products — leveled by China in retaliation for Trump tariffs — are undercutting commodity prices and closing off critical markets. The losses so far likely exceed the $12 billion bailout, while damaging effects will reverberate beyond the farm to rural towns, businesses and institutions.

A farm bailout is only the beginning, as other industries caught in the trade war crossfire seek federal help. And there’s no telling how long it will take agriculture and other industries to rebuild access to markets even if the war ends.

U.S. Sen. Joni Ernst, R-Iowa, says $977 million in Iowa exports are threatened. “I will continue to push the administration to open up new markets and finalize trade deals, steps that will go the distance to ensure the success of America and Iowa’s agricultural economy,” Ernst said.

But, so far, pushing and pleading with this president have accomplished little. That raises the question for Ernst and her colleagues — why doesn’t Congress act?

Congress remains a coequal branch of government, at this hour. It could stand up to Trump by voting on bills that would curtail the president’s authority to impose tariffs.

It’s true, the president’s veto pen could nullify any action. But a united congressional front certainly would send a clearer, stronger message to the president than a flurry of news releases from “concerned” lawmakers. When presidents overreach, Congress is our first defense.

Trump’s reckless trade policies are harming American farmers and industries now, with more damage sure to come. It’s past time for our elected representatives to hit back. If they refuse to do so, voters should send their own message in November.

[Left Seater]

As expected, TTL brigade punts. LS admitted it was wrong-headed....but Obama...but Clinton. Thanks for playing.

Nice selective reading on your part. I also called out GOP Presidents. Are you libs ever honest with yourself, much less anyone else?

[Goober McTuber]

As expected, TTL brigade punts. LS admitted it was wrong-headed....but Obama...but Clinton. Thanks for playing.

Nice selective reading on your part. I also called out GOP Presidents. Are you libs ever honest with yourself, much less anyone else?

OK, but if we're going to be all honest and shit, you called out GOP President, not Presidents.

[Left Seater]

As expected, TTL brigade punts. LS admitted it was wrong-headed....but Obama...but Clinton. Thanks for playing.

Nice selective reading on your part. I also called out GOP Presidents. Are you libs ever honest with yourself, much less anyone else?

OK, but if we're going to be all honest and shit, you called out GOP President, not Presidents.

Figures you wouldn’t understand et al to mean the rest of them as well.

[Goober McTuber]

Nice selective reading on your part. I also called out GOP Presidents. Are you libs ever honest with yourself, much less anyone else?

OK, but if we're going to be all honest and shit, you called out GOP President, not Presidents.

Figures you wouldn’t understand et al to mean the rest of them as well.

The rest of them presidents, or the rest of them Democrat presidents? Consider your record. And as always, you can't just admit that your Dear Leader was wrong, you have to go to the "everyone does it" card.

[Shlomart Ben Yisrael]

[Goober McTuber]

Note the TAD in the last two posts.

Note the TARD in the above post.

No shit, Sherlock.

[Joe in PB]

Who's that, the latest victum to have thrown up in her mouth after you made another I'll advised advance?

Sent from my SM-N910V using Tapatalk

[Goober McTuber]

Who's that, the latest victum to have thrown up in her mouth after you made another I'll advised advance?

Sent from my SM-N910V using Tapatalk

Are you seriously retarded? Your posts never make any sense. You are one continuous message board fail.

[Goober McTuber]

I see another red X. Keep swinging for the fences, tubby.

[Goober McTuber]

I see another red X. Keep swinging for the fences, tubby.

I see it. Nobody else has complained about a red x.

I'm probably the only one reading your posts any more.

I have to head out for happy hour. You and Joe Blows can continue your tard-off.

[Left Seater]

Goobs, your denial runs deep. But whatever helps you sleep at night.

[Screw_Michigan]

For what its worth, I hate tariffs and favor free, open and fair markets.

Gee, that's nice!

But I understand that the trade deals the US has with its "allies" and trading partners are not free or fair. Our "allies" and trading partners impose tariffs and other protective actions that make it nearly impossible for our companies to compete with theirs. And we do not impose the same limitations. This results in a significant trade imbalance. The only way you can get these countries to stop fucking you and to return to the negotiating table so a free, open and fair trade deal can be obtained is to temporarily impose retaliatory tariffs. When you are the biggest donkey in the pen, you get to make the rules. We are the biggest donkey. And all we want to do is to make fair trading rules. We are not trying to screw anyone over.

If you disagree, point out how the current trade deals are fair to the US, and how it is unfair to renegotiate them. Should be easy for you, right?

BUT BUT BUT I thought you liked free markets and fair trade? :?

[Dr_Phibes]

If you disagree, point out how the current trade deals are fair to the US, and how it is unfair to renegotiate them. Should be easy for you, right?

A trade deal is a treatise, It's your word and your signature and your guarantee. Everyone who went into it was willing. The argument here is why a five year moratorium on any treatise, who would invest in something open to re-interpretation every five years? You cannot give your word, then take it back.

You sold out labour for finance capital, now labour is the key again. I think this is marvellous.

[Joe in PB]

[Dr_Phibes]

So that's it. If the President signs a binding paper, It's not on behalf of the United States, it's on the behalf of his administration. Every treaty is four years binding.

You're going to go out of business very quickly.

[Dr_Phibes]

So that's it. If the President signs a binding paper, It's not on behalf of the United States, it's on the behalf of his administration. Every treaty is four years binding.

You're going to go out of business very quickly.

Your country should cease doing business with the US, then. Or start a trade war with us. Or, you could renegotiate the present trade deal that everyone knows puts your foot up our ass. You choose.

I agree, it started in 2008 - it was recognised. Never put your eggs in one basket. But when things calmed down - everyone slowed down. Now Northern Gateway is accelerated and everyone's fleeing to China and Britain. They need friends about now.

[Dr_Phibes]

Skimmed the article, but it looks good. Context is important, it was a place in time. Canada with the resources, America with the smarts and Mexico with the labour. RACK the nineties.

[Goober McTuber]

Goobs, your denial runs deep. But whatever helps you sleep at night.

Denial of what? Stick to the topic. Trump's trade war is a huge misstep.

[Goober McTuber]

What does TTL stand for?

TTL™ = Trump Taint Lickers

[Rooster]

Goobs, your denial runs deep. But whatever helps you sleep at night.

Denial of what? Stick to the topic. Trump's trade war is a huge misstep.

Kind of depends on how long the tariffs remain in place. If this mess gets sorted out, the lasting results will be short lived. On the other hand, if it escalates, there will be major trouble ahead, no question about it.

One thing which I believe Trump has wrong is that trade is not a zero sum game. Trade need not be balanced equally in terms of deficits and surpluses, as evidenced by the surplus of airliners for example, that we ship out across the world. We don’t hear Mexico complaining about the trade imbalance of our aircraft flooding their market. Personally, I don’t see a particular need for the US to dominate the cheap plastic toys and dinnerware market, but that’s just me.

[Goober McTuber]

Very reasonable take, Rooster. Color me shocked. But this does need to get resolved quickly.

[Mikey]

Goobs, your denial runs deep. But whatever helps you sleep at night.

Denial of what? Stick to the topic. Trump's trade war is a huge misstep.

Kind of depends on how long the tariffs remain in place. If this mess gets sorted out, the lasting results will be short lived. On the other hand, if it escalates, there will be major trouble ahead, no question about it.

One thing which I believe Trump has wrong is that trade is not a zero sum game. Trade need not be balanced equally in terms of deficits and surpluses, as evidenced by the surplus of airliners for example, that we ship out across the world. We don’t hear Mexico complaining about the trade imbalance of our aircraft flooding their market. Personally, I don’t see a particular need for the US to dominate the cheap plastic toys and dinnerware market, but that’s just me.

Nailed it.

[Screw_Michigan]

Kind of depends on how long the tariffs remain in place. If this mess gets sorted out, the lasting results will be short lived. On the other hand, if it escalates, there will be major trouble ahead, no question about it.

One thing which I believe Trump has wrong is that trade is not a zero sum game. Trade need not be balanced equally in terms of deficits and surpluses, as evidenced by the surplus of airliners for example, that we ship out across the world. We don’t hear Mexico complaining about the trade imbalance of our aircraft flooding their market. Personally, I don’t see a particular need for the US to dominate the cheap plastic toys and dinnerware market, but that’s just me.

Rack this take

What aircraft are you flying over the Cali fires?

[Shlomart Ben Yisrael]

What aircraft are you flying over the Cali fires?

whoa

[Shlomart Ben Yisrael]

Consuming economies, like the US, will purchase far more goods from others than they will purchase from us.

Remember when you guys were a manufacturing economy? Can you remember that far back?
Mood rings.
Lava lamps.
Roller Disco.
The Chiefs winning Super Bowls... :|


Those were good times, weren't they?

[Shlomart Ben Yisrael]

The Chiefs winning Super Bowls... :|

WAR ~ Wags