Trump Should Reconsider His Tariff War with China

by: Brent Smith at the Common Constitutionalist

Scroll Down for Audio Version

Now let’s not get ahead of ourselves on this.

Most of us have heard that the Trump administration has a plan to “temporarily” aid American pork, dairy and soy bean farmers to the tune of about $12 billion. This is as a result of China raising its import tariffs on those American products as retaliation for Trump’s tariff increase on Chinese goods.

Many it seems have written about this as if it’s already happened. Well, it hasn’t.

As Conservative Review writes, “News of the supposed plan was leaked to the media by anonymous sources, so it is possible that this is just an idea being floated to see how the public reacts.”

However, if true, it’s a bad idea. Government “assistance,” no matter how temporary they claim it to be, is just a bailout. No different from any other bailout. And that’s never a good thing for the American people.

And as an aside, how many government assistance programs can you name that were ever really temporary. How about none. read more

Has the Tariff War Begun?

from Zero Hedge:

Here It Comes: China About To Launch “Tens Of Billions” More In Tariffs

This morning the market has been on edge over, and traders are obssessed with just one question: how will China retaliate to Trump’s trade war and tariffs… further. After all, the initial response of a modest 15-25% tariff on $3 billion in 128, mostly agricultural, products, seemed laughably small and appeared to be more of a warning shot than a real response to Trump’s $50BN in Section 301 tariffs.

One answer was revealed moments ago when as we reported that China’s ambassador to the US Cui Tiankai did not rule out the possibility of scaling back purchases of Treasuries in response to Trump’s tariffs. read more

Innovation Born of Necessity

by: Brent Smith at the Common Constitutionalist

Scroll Down for Audio Version

I am firmly against excessive tariffs. I’ve made that crystal clear on a number of occasions. Reasonable tariffs on imported goods are well… perfectly reasonable. At our founding, it was the source of federal government funding. Reasonable import tariffs (imposts) and duties covered the cost of operating the small federal government budget. It paid for the labor and clerical work of the importation and inspection process. As the feds were responsible for little else constitutionally, tariffs were an adequate funding system.

But these days, tariffs could not hope to cover the cost of operating the federal leviathan. They are now more a measure of protectionism worldwide. And I agree that on the world stage, America has allowed itself to be taken advantage of. Other nations expect America to charge minimal import tariffs and duties for the goods they export to us, but few reciprocate.

Nations like China do in fact take advantage of us. They expect us to treat them fairly, but often charge exorbitant tariffs on products we ship to them. And that’s assuming they accept our exports at all. In many cases, they simply do not. They don’t wish to compete with American imports on their own soil. For a long time, it has been rather one-sided.

And for just as long, the American government has put up with inequity, afraid to make waves. Enter President Trump. read more

No to Protectionism Mr. President

from IBD:

High Tariffs And Weak Dollar Are No Way To Make America Great Again

As we’ve noted many times, President Trump’s first year was a rousing success when it comes to economic policy. But one new troubling exception has recently emerged: The Trump administration’s advocacy of a weaker dollar and trade protection. It’s a big mistake.

 In recent months, the U.S. dollar has weakened noticeably against other currencies. The Fed’s trade-weighted dollar index, which measures the dollar’s value against all of our trading partners, after adjusting for volume of trade, has fallen just over 8% in the past year, to a three-year low. That’s a sizable decline.

What concerns us is that the pace has picked up since the start of this year, with the dollar falling more than 3% since January 1 as talk of more trade protection for the U.S. economy gathers steam.  More importantly, the Trump administration has all but announced an explicit policy goal of having a weaker dollar. read more

Americans Just Don’t Understand Why We Can’t Compete

by: the Common Constitutionalist

Listening to some of the those who call in to national Talk Radio shows is all the evidence one needs to be convinced of how woefully ignorant the American people on the left and right are regarding the economy, business, the market, etc.

I get that those who watch MSNBC don’t understand these concepts, but the folks who listen to conservative Talk Radio are supposed to be smarter than average. We hear from many Radio Hosts that the listeners of their particular show are the smartest audience out there. Yet listening to those who get through to converse with the Hosts on air appear to be just as ignorant. I don’t mean stupid – I mean ignorant. There is a big difference. Being ignorant is defined simply as lacking knowledge, whereas being stupid is a choice.

A good example of this is the subject of taxes. Empirical data clearly shows, as does common sense, that high taxation hurts the economy. An ignorant person may have never learned or been shown this, so they can’t be faulted for thinking otherwise or falling prey to some politicians rhetoric. A stupid person is one who rejects, for whatever reason, that which he or she has been shown as fact. read more

Newt is NOT a Conservative

by: the Common Constitutionalist

Pop Quiz: Who said this?

“The Progressive Movement has profoundly changed America for the better.”

If you said it was the great conservative, Newt Gingrich, you’d be correct. I’m kidding about the whole great conservative thing.

Yet today, that dope, Rick Perry drops out of the race and follows Sarah Palin by endorsing Newt. Has the world turn completely upside down? Heck, even Rush Limbaugh calls Newt a conservative.

This is yet another example of why I repeat, Newt Gingrich is NOT a conservative. Newt Gingrich is a big government Progressive. He has stated, on several occasions, his favorite Presidents were progressives.
I have personally heard him give positive statements regarding them all. He didn’t describe them as progressives, but has called them out by name. Andrew Jackson, Theodore Roosevelt, Woodrow Wilson & FDR. The only one he left out was LBJ. What true conservative, with any reverence and understanding of the Constitution, could possibly think this; much less say it out loud. In my opinion, these 4 are not only, not good, but are the 4 worst presidents in history!

Then why would he do this? Why would he speak favorably of these gentlemen? That’s an easy question to answer. He knows, as do many of us, the general public has been taught next to nothing of our history. He throws these historical quips and quotes out during the debates. He sounds like the great historian & is never challenged due to the dearth of historical knowledge of the other candidates or the moderators.

On that note I would like to present one of the great men Newt has recently quoted & appears to have great respect for; President Andrew Jackson.

Many believe the Father of Progressivism was Theodore Roosevelt. In fact it was Andrew Jackson. Andrew Jackson came to prominence as the Founding Fathers died out and I believe the republic that they envisioned also died with Jackson. He could not have done what he did if they had been around.

Jackson believed in Manifest Destiny, which is kind of the perversion of Divine Providence. Divine Providence occurs when you live your life in a good and moral way, try your best and pull yourself up by the bootstraps, God will open doors for you. You know, “Good things happen to good people”.

Manifest Destiny is more of the, “Get out of my way. I’m on a mission from God”. It’s my way or the highway. Like all progressives, he knew better than the people.

Founding Fathers = Divine Providence, Progressives = Manifest Destiny. It’s no surprise Jackson was also the father of the democrat party.

He declared war on the Bank of the United States (B.U.S.). I’m no fan of any national bank but unlike the Federal Reserve of today, the B.U.S. did not wield nearly the power of today’s central bank.

Although he declared it, he wasn’t championing the working class or Ron Paul supporters. He claimed to be fighting for the “little man”. Sound familiar? In fact he just wanted to shut the bank down because he couldn’t control it. Jackson simply wanted to replace it with another bank completely controlled by him and his party. Progressives must control all things for the betterment of society. They arrest control by pretending to be the champions of the “Little Guy”.

Most Americans think the Civil War was fought solely about slavery. In fact Andrew Jackson started the ball rolling when he signed the Tariff of 1832 that taxed imported and exported goods. The North grew successfully
under this tariff. The tax was rough on the southerners. As Andrew Jackson continued to tax goods, southerners found it hard to sell their products to the English and suffered badly.. South Carolina firmly refused to pay the taxes and threatened to withdraw from the Union if the tariff was enforced. It was eventually rewritten, but the damage between the North & South had been done.

Like the progressives that would follow, he was also a flaming racist. He believed neither Indians nor blacks should own any property in the U.S. He particularly hated Indians.

We have all heard of the “Trail of Tears”. That was Andrew Jackson’s doing. He declared war on the Eastern Indian Tribes, signing the Indian Removal Act. There would be no tribes east of the Mississippi. Many Indians were massacred. Those he didn’t have killed, were driven west along; you guessed it,
“The Trail of Tears”. Many of the Indians died on the trail (roughly 25%), freezing to death.

His excuse for the atrocity was, “Well, we needed the land, so we took it”. Manifest Destiny.

Andrew Jackson was a BAD dude & Newt goes out of his way to speak highly of him.

This is the advertised “True Conservative”?

Don’t be fooled!