Why China Is LAUGHING At Trump's Tariff Plan To Revive US Factories
China Dumping Record Amounts of Treasures (What They Aren’t Telling You)
Professor says Drumpf Debt will increase by $15 Trillion
“Economists estimate that he'll add 15 trillion - that's trillion with a T - dollars to an already rapidly growing US federal government debt.” Donald Trump’s plans for the economy will quickly unravel because he has no policies to fund proposed tax cuts, explains Professor Scott Lucas.
The U.S. military spending is why the U.S. went off the gold standard in the early 70s but also why the budget was changed to include social security trust into the discretionary budget. This covered up the other military costs also for debt spending and VA healthcare - putting military budget at 50% of the U.S. discretionary budget. Reagan already started raiding social security. So indeed this is the final gutting of the U.S. government but the military is privatized now with CEOs making $30 million a year in tax dollars for individual salaries - total insanity.
Trump's tariff threat puts US farm exports to China at risk
China just won the trade war with the U.S.
SNAP [food stamp] spending doubled from $63 billion in 2019 to $127 billion in 2023.
if the Chicago boys, the neoliberals and the Washington consensus, has its way today are we going to have the end of civilization?...In the West they're moving into NeoFeudalism. We're moving back into this kind of polarized economy. If you don't prevent a financial oligarchy from taking over, ...you're going to have a Dark Age, when all the money is at the top of the pyramid & you've killed the domestic market, you've killed growth....Free from any government attempt to tax or regulate the economy to prevent monopoly rents, to tax land rent and to make money and credit a public function, instead of a privatized function.
Michael E. Hudson (see below for link).
President Trump’s plan would increase the debt by $7.75 trillion.
How much did he already increase the U.S. debt?
then his tax cuts made it surge. Add in the
pandemic, and he oversaw the third-biggest deficit increase of any
president.
The national debt has risen by almost $7.8 trillion during Trump’s time in office. That’s nearly twice as much as what Americans owe on student loans, car loans, credit cards and every other type of debt other than mortgages, combined, according to data from the Federal Reserve Bank of New York. It amounts to about $23,500 in new federal debt for every person in the country.
Hilarious. Drumpf is tanking the U.S. Empire. hahahahah
China owns 11% of U.S. debt. Last time Drumpf boycotted China then Drumpf has to bailout $30 billion to U.S. farmers. This time China is ready since China has diversified agricultural imports and China has stopped buying new U.S. debt... China is READY to collapse the U.S. Empire. Thanks Drumpf! hahaha. https://michael-hudson.com/2023/03/the-collapse-of-antiquity-release/
The Collapse of Antiquity, the sequel to Michael Hudson’s “…and forgive them their debts,” is the latest in his trilogy on the history of debt. It describes how the dynamics of interest-bearing debt led to the rise of rentier oligarchies in the U.S. Drumpf regime, classical Greece and Rome. This caused economic polarization, widespread austerity, revolts, wars and ultimately the collapse of U.S. Empire/Rome into serfdom and feudalism.
Leviticus 25 (Jubilee Year): You've got to cancel the debt every ten years!! Does your church say "Forgive us our Debts as we forgive our
Debtors"? That's how I learned the Lord's Prayer but Augustine changed
it to "original sin" - how my current church says the Lord's Prayer. I
keep saying it as DEBT. hahahaha. Michael E. Hudson on ancient history and economics/religion
Smart phones have fried peoples'
brains with their "one finger" searches. hahaha.
According to Google Trends, searches for "Did Joe Biden drop out" started spiking around 6 a.m. on election day and continued to rise over the course of the day until reaching its peak at midnight. It then started to spike again around 8 a.m. the day after. Prior to election day, there were virtually no such searches.
https://www.10news.com/news/
Cops are still just cops whether they are good or bad. Bank stocks soared 20% today!
Financial speculation wealth is raking it in. That is NeoCon at the
core. The elite will get even more rich very fast while the
corporate-state media will blame "student protesters." (yes that has
already happened just like Nader was blamed for Bush winning back in
2000).
I once paid $250 for an Ad in City Pages in
1995 to point out that the Democrat "Salvage Rider" was a scam against
old growth forests. In 1999 I personally confronted VP Al Gore when he
ran for Prez - the Minneapolis Democratic machine was very pissed at me -
hence a "good cop" pulling me over to get my identification. hahahah. I
told Gore, "everyone knows the CIA is complicit in the drug trade." And
yes the CIA controls the democrat party but also the Republican party.
So I never voted "for" anything. Voting is the least a person can do in a "democracy" - and democracy has been a scam since Greek imperialism. https://www.youtube.com/watch?
I
voted against a child rapist since child rapists are the lowest scum
evil in prison. Yes the indoctrination system in the U.S. is the worst
so people vote for a Child rapist and think they are voting for Jesus.
hahaha.
People say yes but Clinton was buddies with Epstein. That's correct: Two wrongs don't make a right. Drumpf was best buddies
with Epstein though. Evil is real and Drumpf is definitely directly
inspired by Hitler. Drumpf even threatened the corporate elite that if
they didn't support him then there would be civil war - that's precisely
the same strategy Hitler used.
Mother Nature is taking
revenge very fast. India is frying as is Africa - the U.S. is in drought
also. I trust in Mother Nature to prove that civilization is a scam.
Fascism
is just thwarted Imperialism - aka "imperial implosion" as I dubbed it
in 1996. The U.s. Empire has 750 military bases in other countries - and
the World Trade Organization has secret corporate representatives
deciding "free trade" rules.
The World Trade Organization said Tuesday that Trump administration tariffs on Chinese goods totaling more than $200 billion are illegal.
The ruling, in theory, would allow China to impose retaliatory tariffs on billions worth of U.S. goods – if the process is completed.
So Drumpf had to pay out $29 Billion subsidies to U.S. farmers for losses to China's retaliation boycott of U.S. farm goods.
Since Trump was in the White House, China has slashed its dependence on U.S. farm goods in a concerted effort to beef up national security, including food self-sufficiency. U.S. agricultural exports to China fell 24% last year to $29.1 billion, according to the U.S. Department of Agriculture (USDA).
Then China will also stop buying U.S. Debt and that will crash the value of the U.S. dollar.
Yes, China has been buying less of U.S. debt in recent years:
Reduced holdings
China's holdings of U.S. Treasury bonds have been decreasing since 2018. In March 2024, China's holdings were down to $767 billion, the lowest level in 14 years. As of April 2024, China owns about 11.9% of the total U.S. debt, or $749 billion.
China's holding of US government bond assets dropped to US$776.5 billion in July from US$780.2 billion in June while remaining the second-largest foreign holder, after Japan.Sep 19, 2024
Of course, China could sell off some of its enormous reserves of U.S. Treasury securities. It currently owns almost 10% of the total Treasury debt held by the public.
To be sure, the U.S. government would have to pay somewhat higher interest on its debt, but it seems likely the gains to the U.S. from faster net export growth would greatly outweigh the losses from higher public borrowing costs.
China is not actively selling treasuries. They just don't buy new ones when old ones matured.
https://www.nasdaq.com/
Lesser Regulations Related to Consumer Fees: Banks are
set to benefit from the easing regulatory landscape. The Trump
administration is likely to make leadership changes in several federal
regulatory agencies that supervise banks or other financial services
giants. Currently, the Consumer Financial Protection Bureau oversees
banks' consumer fee income and intends to impose stringent rules as to
how much banks can charge for services. With the new administration in
place, banks, including JPM, C, KEY and FHN, expect looser regulations.
This will enable them to earn higher fee income and support the top
line, which has been reeling under pressure from volatile spread income.
Less Antitrust Regulation: The Trump administration is likely to be friendlier toward corporate mergers as the easing of some rules for big banks and more leniency in approving merger deals are expected. This will likely lead to a strong investment banking (IB) performance, with big names like JPM, GS and Bank of America gaining from it. The IB business had been witnessing weakness since 2022 and revived this year on the back of clarity on several macroeconomic factors. Hence, with less antitrust regulation in place, industry players are likely to record solid gains.
Lower Capital Constrain: Since the 2008 financial crisis, large banks like JPMorgan, Bank of America, Citigroup and Goldman have been required to hold more capital to safeguard them in the event of similar occurrences. In July 2023, the U.S. banking regulators planned to overhaul the global capital requirement known as the Basel Endgame to boost requirements for the world’s largest banks by nearly 19%. Though in September 2024, the requirements were toned down, banks were still likely to maintain an additional 9% capital as buffers for future losses. Now, with the Trump administration being more in favor of deregulation, the banking industry is hoping for further toning down or scrapping of these extra requirements.
Less Antitrust Regulation: The Trump administration is likely to be friendlier toward corporate mergers as the easing of some rules for big banks and more leniency in approving merger deals are expected. This will likely lead to a strong investment banking (IB) performance, with big names like JPM, GS and Bank of America gaining from it. The IB business had been witnessing weakness since 2022 and revived this year on the back of clarity on several macroeconomic factors. Hence, with less antitrust regulation in place, industry players are likely to record solid gains.
Lower Capital Constrain: Since the 2008 financial crisis, large banks like JPMorgan, Bank of America, Citigroup and Goldman have been required to hold more capital to safeguard them in the event of similar occurrences. In July 2023, the U.S. banking regulators planned to overhaul the global capital requirement known as the Basel Endgame to boost requirements for the world’s largest banks by nearly 19%. Though in September 2024, the requirements were toned down, banks were still likely to maintain an additional 9% capital as buffers for future losses. Now, with the Trump administration being more in favor of deregulation, the banking industry is hoping for further toning down or scrapping of these extra requirements.
Financial Stocks Rally On Hopes For Regulatory Rollbacks
- Investors seemed to bet that a second Trump term would mean less burdensome regulations, more corporate deals and more domestic investment for the banking sector.
- Further, rising stock markets and unwinding of the antitrust crackdown under President Joe Biden could sweeten profits for U.S. banks and stock brokers.
- Treasury yields soared following the election. The 10-year Treasury yield neared 4.5%, a better than three-month high as investors anticipated economic growth, tax cuts and increased fiscal spending. Higher bond yields bode well for banking sectors, which are generally heavily vested in bond purchases and holdings.
Debt and the Collapse of Antiquity - Michael Hudson (pt 1/2)
David Lin says "why didn't trickle down by the rich work"? hahaha. This
economics professor explains it's all about monetary policy with FED
increasing the money supply - and that's the reason Drumpf won - because
the rich got richer from owning assets that had the value increase
while the poor got poorer from inflation caused by the FED buying
government bonds (thereby increasing the money supply for government
spending and banks).
The problem with this - sure I completely understand that's why people are pissed
- but Drumpf just cuts the taxes for the rich so the rich increases
their assets! That doesn't make the poor any better off. Tariffs won't
make the poor any better off.
"historically, one reason is it's an inequality engine, the government is."
Well
yes the FED is but not government New Deal stimulus redistribution
programs. North Dakota owns their own state bank precisely to prevent
farmeres from losing their land/houses during economic
depressions/recessions....So the U.S. would need a public money supply
and public control of corporations.
This Mortgage Credit Certificate allows homeowners to claim 35% of their mortgage interest paid every year as a federal income tax credit — this can provide households with up to $2,000 in tax savings.
"The Biden-Harris administration proposed providing $25,000 in downpayment assistance for 400,000 first-generation home buyers -- or homebuyers .
And now - we have the fascist crackdown against the poor - voted in by the poor itself. The hope is that the fascist crackdown will just target "immigrants" etc. hahaha.
The Trump administration, after achieving large increases in the U.S.
defense budget during its first two years in office," - his claim that
cutting taxes for the rich somehow decreased military spending is bunk.
Trump oversaw a massive hike in defense spending during his first term — some $225 billion higher than projected from the late Obama years. Defense hawks in Congress are counting on a repeat of that trend, and will have more power to force it.
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