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Discussion Starter #1
“Everyone loses in a trade war” isn’t entirely accurate. Corporations are going to pass the price increase right to the consumers. Right now the $200B is at 10% but if congress does nothing for the next 6 months due to election season, it goes up to 25%.

If you don’t think this would affect you because you buy American? Expect most consumer goods go up 25% no matter where it is made. Why? Corporations in the industry will take advantage of the price increase. This means even if the product isn’t made in China, the prices for the category will go up across the industry. An increase in consumer prices would permeate and affect the working and middle class the most. Are we paying for Trump’s ego?

The result would be 80s like inflation. I think this is a worthwhile subject to raise for congressional candidates in the upcoming midterm elections.



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Bob Woodward devotes a lot of space to the failed efforts of Gary Cohn to explain to President Trump how trade actually works, how the supply chain works. With pie charts, for goodness sake. Trump believes what he believes and relies on instinct more than information. We will all be paying for his stunning ignorance. Drug prices come to mind, immediately.
 

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And lowering drug prices was one of the great promises he made. Mfmst were you actually able to purchase Woodward's book? I personally don't really like reading on tablets and still like to hold a book in my hand and turn pages. Amazon and lots of other retailers ran out on release day last week.


As a person who is hoping to retire in the next three to six years none of this makes me very happy.
 

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Discussion Starter #4 (Edited)
Pharmaceutical companies enjoy a huge economic advantage in America unlike any other country in the world. The spineless Martin Shkreli case comes to mind immediately. I have not read the Woodword book but I would not be surprised by anything in it. DH also hates ebooks. There is something about having turning the physical pages. I’m trying to declutter so I appreciate the space saving edition.

I do worry about the economic consequences #45 leaves behind that people have to grin and bare including those who never elected him in the first place. The inflation in 1980s peaked above 13% and resulted in a major recession. Still, I do think it is important to trust in the democratic process. It is easy to forget that so many people in other countries lack transparency and voting power. I think it is incredibly important to vote come November to head off any disasters.

I believe the 10% is in place to appease Republicans congressmen running for re-election in November. I can’t imagine corporate America isn’t fighting this with tooth and nails. The 25% is buried in the fine print. I expect this to eat into people’s savings and especially worrisome what effect it would have on national economy which is about the only thing this administration has going for them.

ETA: I was wondering why this isn’t more frontline news but we live in days where the Supreme Ct nominee is possibly a rapist and the president’s private parts are trending on Twitter. It doesn’t get more surreal than that.

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I am on my 4th Kindle. Love the backlighting, font size options, long battery life. I preordered Fear and couldn’t put it down. It’s worse inside the White House, than you can even imagine. Our president begins his day at 11! Did he learn nothing at Wharton? Steve Bannon is quoted as saying Trump is like the guy in college who never attends classes, parties late the night before an exam, steals your notes and is happy with a “C”, cause he’s gonna be a billionaire. Embarrassing that Mnuchin had to explain that we can’t just print money to cover our out of control deficit.

One thing I do admire is that he wants the US out of all of these endless wars in the Middle East. Nothing admirable about him wanting the mineral rights of Afghanistan! The last line in the book is everything. Colbert was right.
 

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Discussion Starter #6
There are criticisms that Woodward was very lenient with the people that were big sources; ie people like Steve Bannon. How valid are such claims?
I am curious. I haven’t read it yet. Lately I’ve been watching the Dragon Prince on Netflix. It is a nice feel good fantasy with political subtext.


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I think we're already feeling some of it. I had to buy a washer and dryer recently an boy or boy have those prices shot up. I'm lucky mine died during the July 4th sales.

But I'm finding plenty of items have increased in price from food to goods.
 
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I thought it was balanced. If you are a source, you can try to spin, but Woodward is going to get corroboration. It’s pretty much “Fire and Fury” which I also read, by a more credible journalist. Taking a pass on the Stormy Daniel’s book. Ugh.
 

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Discussion Starter #9
I think we're already feeling some of it. I had to buy a washer and dryer recently an boy or boy have those prices shot up. I'm lucky mine died during the July 4th sales.

But I'm finding plenty of items have increased in price from food to goods.


Yeah that is due to steel prices going up. I’ve been debating about a car. As you see with the steel tariff, it ruined a ton of manufacturing in the US. It drove the price of steel up to crazy prices.


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NPR had a story on how this is affecting car manufacturing. Since China is now the largest buyer of cars some of the newest technology and certain models of cars just won’t be available in the states because of tariffs will make them too expensive.
 

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Discussion Starter #11
NPR had a story on how this is affecting car manufacturing. Since China is now the largest buyer of cars some of the newest technology and certain models of cars just won’t be available in the states because of tariffs will make them too expensive.


From my visit to China this year, it seems like their cars are more advanced even the less expensive models has some sort of front end camera rather than just a back up camera.


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And they have better fuel efficiency standards and goals than we do.
 
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