Are Trump's steel tariffs working? Seems they are!

[Jan van Eck + 7,558]

1 hour ago, Rodent said:

Two words: Daniel. Craig. 

OK, Rodi, as a concession to you, I shall allow movie actors, the Beatles, right-hand-drive Rolls's, and fish and chips.  And Daniel Craig, because you find him HAWT!

[Dan Warnick + 6,100]

16 minutes ago, Jan van Eck said:

OK, Rodi, as a concession to you, I shall allow movie actors, the Beatles, right-hand-drive Rolls's, and fish and chips.  And Daniel Craig, because you find him HAWT!

LOL!

[Dan Warnick + 6,100]

Here is are a couple of articles about how the steel tariffs are affecting my home state:

https://www.stltoday.com/business/local/in-granite-city-a-company-town-gets-back-to-business/article_b3441e28-cc59-5c56-ac0b-043c3a31f770.html

https://www.stltoday.com/business/local/u-s-steel-to-restart-second-furnace-in-granite-city/article_fa1a1d84-1288-5064-b795-039087d3c45d.html

Granite City used to be a place we went when I was in college.  The town and surrounding areas have been dieing a widespread death in the last 10 years as the steel mill slowed and finally all but shut down.  Good to see the area getting some much appreciated CPR.

 

Edited August 18, 2018 by Dan Warnick

[Dan Warnick + 6,100]

I found a very interesting set of charts today.  The MSM and so many other groups talk about how the tariff/trade war is/will hurt American farmers, and I'm sure that is true to a certain extent.  But looking at these historical price charts going back to 1971, it would appear that soybeans, corn, wheat and others have been in a bit of bubble themselves in recent years.  It appears that in the current time the prices are coming down to historical norms.  Now, I will leave detailed analysis to those of you on here that know more than I do.  I feel that this means China actually has less ammunition than what the common dialogue leads one to believe.  Although somewhat painful to U.S. farmers, and believe me I am sensitive to them, I think they can get through this okay if it doesn't go on longer than a year of so.  What do you think?

https://www.macrotrends.net/2531/soybean-prices-historical-chart-data

Clicking on other tabs on that website reveals a lot of other interesting charts, all in one nice easy to view place.  Hope you find it useful.

Edited August 18, 2018 by Dan Warnick

[John Foote + 1,135]

The USA has an unusual ability to be overwhelmingly self-sufficient. But the transition, if we truly go that path, will be painful, and a realignment of lifestyle and buying power. 

Consumer spending is a huge economic driver, and it will take a huge hit as we wean ourself off imported materials from China and low cost nations. The service sector employees roughly 80% of the Americans in the private sector. What might prevent serious inflation is a lack of ability to buy. The lack of velocity in spend is how the 2008/2009 mess didn't turn into hyperinflation. 

I do think if it's possible to stay the course, within 10 years things will be better. But in the short run, OMG. 

I am in manufacturing, and so often things I bought ten years ago in the USA can't be made here, at least not in serious volume. With enough lead time, they can be here again. But so many of those skilled machinist and such are over 50, not enough young folks behind them, and the under and unemployed aren't in a position to be able to do such a thing, The nuttiest thing, I often pay more from China today than I did from the US a decade ago.

And so much of manufacturing now is automated, I don't care where you make it, even it it comes back it's not the jobs of before, and a different workforce. Target the economic drivers of the future, not the past.