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[Muffin1611]

BADEN-BADEN, Germany – The Trump administration on Saturday rejected a statement from other
leading economies that warned against the perils of trade protectionism, the latest sign of how the
administration's more combative approach to diplomacy could create rifts with U.S. allies and leave
traditional partners in the dark about the direction of U.S. policy.

Treasury Secretary Steve Mnuchin, appearing at a gathering of economic ministers and central bankers from
the 20 largest economists, rebuffed multiple entreaties from German officials to include in the meeting's
joint statement language stressing the importance of free trade and that it should be conducted in a ”rules
based" manner, following existing standards and agreements.

By rejecting language that would have said the United States is opposed to protectionism, the White House
sent a clear signal that it would not accept existing trade norms and could pursue a more antagonistic
approach with trading partners around the world. Such language has been considered ordinary and
uncontroversial in recent meetings of the Group of 20.

More at the link: https://www.washingtonpost.com/busi...ifi_push_breaking-news&utm_term=.a08519604eba

 

[Lord Frieza]

All this man is able to do is divide

 

[BoogieWoogie]

Why doesn't the stock market ever take any of this crazy shit into account? You would think something like this would make it sink like a stone.

 

[Got]

Why doesn't the stock market ever take any of this crazy shit into account? You would think something like this would make it sink like a stone.

Because the robber barons are confident in their ability to loot the system before the collapse.

 

[efyu_lemonardo]

All this man is able to do is divide

Sooner or later this will result in something small enough he can manage it.

 

[smokeandmirrors]

Why doesn't the stock market ever take any of this crazy shit into account? You would think something like this would make it sink like a stone.

finance and stock market twats are gonna pilfer all they can before shit hits the fan

 

[Master Yoshi]

I see a bad moon risin'

 

[Xando]

Why doesn't the stock market ever take any of this crazy shit into account? You would think something like this would make it sink like a stone.

Lol they won't care. Whatever happens taxpayer will finance them anyway

 

[Chmpocalypse]

Gee, no way this could have global economic repercussions that could destroy our economy or anything...

 

[Large Professor]

Why doesn't the stock market ever take any of this crazy shit into account? You would think something like this would make it sink like a stone.

The market doesn't care until it does.

 

[JDB]

Thanks, America.

 

[The Technomancer]

Well this should be fun

 

[Hale-XF11]

I wonder how soon we can expect the next big recession.

 

[Ogodei]

The market doesn't care until it does.

The market is the last holdout in believing "he can't possibly mean what he says." They're still projecting their vision of a generic Republican presidency: tax breaks and deregulation and no messy domestic or international calamities. Hence the exuberance right now: they see a market with strong fundamentals (which is true), and think that if a GOP President now washed away all the bad stuff holding the market back then we'll really see something special.

The question is whether the market climbs down from this peak as reality sets in, or tumbles over.

 

[Ac30]

I wonder how soon we can expect the next big recession.

We just started growing somewhat in Europe again, c'mon fam

 

[Abstrusity]

Gee, no way this could have global economic repercussions that could destroy our economy or anything...

Between 3 and 5 million jobs lost overnight in the import/export businesses alone -- that's an extra 4% unemployment -- coupled with further job losses as demand craters when prices for most goods rise dramatically, plus further job losses as what factories we DO have that import supplies due to their lack of availability in the US can no longer profit without, again, dramatically raising their prices.

This whole this is a losing proposition.

I estimate 15% unemployment because of it, more than three times the number of unemployed. I'm looking for more data on these effects to get a better picture, but that's my immediate assessment. Rejecting free trade and imposing tariffs on anything at all will lead to a reaction from WTO member states, and the US ceases to be a superpower overnight.

That's all it is.

 

[Rebel Leader]

Well... We're boned

 

[jelly]

UK can jump start this shit show when Brexit begins.

 

[Slayven]

The USA and the UK are going to be left so far behind. Recession will be the best expected outcome, but i wouldn't be shocked at a full scale depression

 

[Napoleonthechimp]

If Trump thinks his approach of being beligerant can be applied to international trade then he's in for a rude awakening.

 

[Saya]

Also, this: US 'forces G20 to drop any mention of climate change' in joint statement

 

[liquidtmd]

Also, this: US 'forces G20 to drop any mention of climate change' in joint statement

They fucking did what???

 

[shira]

The USA and the UK are going to be left so far behind. Recession will be the best expected outcome, but i wouldn't be shocked at a full scale depression

After his term Trump can retire and live like a czar in New Russia

 

[RPGCrazied]

Its just hilariously sad at this point. The GOP doing absolutely nothing about the carnage Trump is creating. The leaders he is disrespecting, the tax dollars he is wasting by his constant golf weekend vacations.

 

[LucidMomentum]

Also, this: US 'forces G20 to drop any mention of climate change' in joint statement

What did the climate ever do to Trump?

 

[smokeandmirrors]

We just started growing somewhat in Europe again, c'mon fam

y'all might be fine

 

[rokkerkory]

I have a bad feeling about this

 

[Nelo Ice]

Its just hilariously sad at this point. The GOP doing absolutely nothing about the carnage Trump is creating. The leaders he is disrespecting, the tax dollars he is wasting by his constant golf weekend vacations.

And they're doing their best to join in on the carnage with Trumpcare and all the rest of their garbage legislation.

 

[Muffin1611]

Also, this: US 'forces G20 to drop any mention of climate change' in joint statement

I can't. How can the other countries let the US force them to do this? Ffs

 

[BobLoblaw]

Thanks, America.

More American's voted against him than for him. Always remember that. It's our stupid fucking election process. It also brought you George W Bush.

 

[ItIsOkBro]

what trump thinks: america is the greatest nation ever and the rest of the world depends on america
the reality: the rest of the world will leave america behind

 

[Ecotic]

Why doesn't the stock market ever take any of this crazy shit into account? You would think something like this would make it sink like a stone.

The stock market doesn't exist solely to react to the American President's words. In truth until Trump and Congress start repealing free trade agreements and enacting tariffs the President's dumb comments aren't affecting the ability of American businesses to compete.

 

[Mahonay]

Also, this: US 'forces G20 to drop any mention of climate change' in joint statement

 

[AcademicSaucer]

I can't. How can the other countries let the US force them to do this? Ffs

Well

Their communique showed no mention of a commitment to fund action on climate change, and Reuters reported there had been opposition from the US, Saudi Arabia and other countries to Germany's intention to include it. "Climate change is out for the time being," an official told the agency.

I bet not many countries wanted to back Germany

 

[Quixzlizx]

If anyone is going to exploit and ruin the American population, it's going to be the AMERICAN one percent!

 

[SerTapTap]

Fucking hell, RIGHT after he said "I'm not an isolationist". And the press STILL won't call him a liar.

 

[wisdom0wl]

They're dragging the whole world down with em.

 

[XMonkey]

These idiots don't even understand that a big reason this country is even in such a position of power is due to free trade and trade agreements cultivated over decades.

Infuriating.

 

[SerTapTap]

These idiots don't even understand that a big reason this country is even in such a position of power is due to free trade and trade agreements cultivated over decades.

Infuriating.

No one accused bigots of being smart. Effective, unfortunately, but never smart.

 

[Dierce]

Fucking kick the US out of the G20 and G8 then. Fucking orange turd and every last piece of shit that voted for him can go straight to hell.

 

[Stinkles]

The market is the last holdout in believing "he can't possibly mean what he says." They're still projecting their vision of a generic Republican presidency: tax breaks and deregulation and no messy domestic or international calamities. Hence the exuberance right now: they see a market with strong fundamentals (which is true), and think that if a GOP President now washed away all the bad stuff holding the market back then we'll really see something special.

The question is whether the market climbs down from this peak as reality sets in, or tumbles over.

I think it's a bit more cynical and maybe less nuanced than that. The market as a "whole" knows the message is garbage, but sees how to profit from it untill the last moment. And of course they hold the keys to the last moment. If your vision of the market problems is a single greedy billionare hedge fund manager artificially pumping garbage to skim off the last huindred million before bailing out, that's sadly pretty accurate. There are probably a dozn institutions doing exactly that as a matter of muscle memory, and plenty of individuals who KNOW what's coming next.

 

[exmachina64]

These idiots don't even understand that a big reason this country is even in such a position of power is due to free trade and trade agreements cultivated over decades.

Infuriating.

They think it occurred in spite of free trade and trade agreements.

"Just think of how much better off we'd be if those things never happened."

 

[Breads]

Why doesn't the stock market ever take any of this crazy shit into account? You would think something like this would make it sink like a stone.

Who will be the first to cash out and move their money elsewhere?

 

[BasicMath]

Loving this.
Don't commit to anything until you verify that the deal is going to work out for your country. That's pretty simple and logical and I'm glad America is taking this stance.

 

[jiiikoo]

Loving this.
Don't commit to anything until you verify that the deal is going to work out for your country. That's pretty simple and logical and I'm glad America is taking this stance.

Sure.

 

[Dierce]

Loving this.
Don't commit to anything until you verify that the deal is going to work out for your country. That's pretty simple and logical and I'm glad America is taking this stance.

You must have a gold medal for your mental gymnastics.

 

[Measley]

The really bad part of all of this is that all of this protectionism isn't going to save disappearing jobs. Automation is going to kill most of those within the next 20 years. The US really needs to begin developing the future economy instead of waxing nostalgic for the economy of the 60s and 70s.

 

[Dierce]

The really bad part of all of this is that all of this protectionism isn't going to save disappearing jobs. Automation is going to kill most of those within the next 20 years. The US really needs to begin developing the future economy instead of waxing nostalgic for the economy of the 60s and 70s.

These fascist are protectionists solely on the fact that they are racist shits. They know that favoring globalism increases cultural integration due to immigration and growing social liberalism.

 

[SerTapTap]

Loving this.
Don't commit to anything until you verify that the deal is going to work out for your country. That's pretty simple and logical and I'm glad America is taking this stance.

These deals have been working out for how many decades now? Guess that doesn't count as verification because there was a KENYAN MOOSELIMB in the whiteouse.

Don't pretend you're smart, just admit you're a bigot and scream it proud. It's worked surprisingly well for your kind lately.

 

[JDB]

More American's voted against him than for him. Always remember that. It's our stupid fucking election process. It also brought you George W Bush.

You guys gave this fucking moron over 60 million votes. Now the entire world will suffer because of it.