Saturday, March 03, 2018

That got old quick

Andrew Bolt, who thinks Gina "if only Australians would work for $2 a day" Rinehart is an economics genius, quotes her praising Trump to the high heavens:
The United States, under President Donald Trump’s leadership, is showing everyone they are open for business and investment, and truly on the way to making the USA great again.
Whereas Marketwatch notes, post the Trump tariff decision:
The broad-based nature of the tariffs—and the broad-based market reaction—indicate that “investors are not only concerned about this particular action, but also how that’s going to affect the economy in the U.S.,” said James Norman, president of QS Investors, in a phone interview....

Domestic U.S. steel prices were already up 20% since the beginning of the year in anticipation of possible tariffs, said Andrew Hunter, U.S. economist at Capital Economics, in a note. That’s a big potential drag on steel consumers in the machinery, motor vehicle and construction industries, he said, observing that the tariffs could, ironically, raise the incentive for those manufacturers to move production offshore to avoid the tariffs.

No comments: