CNN BS again - quoting it from CNN - you should be ashamed of yourself.
CNN BS again - quoting it from CNN - you should be ashamed of yourself.
Actually Hysteria….10% of US purchases are imports or import components. Add a 20% tariff to that…..which is probably well above the equilibrium tariff. That is a one time inflationary shock of 2%, assuming none of the tariff is absorbed by the exporting nation.
So worst, worst case 2% one time. Your man Biden unleashed 20% inflation…..10 X as much as the Trump worst, worst case.
Feeling stupid again? Sorry I just can’t leave you believing all this nonsense you spout which makes you look like a fool.
Biden unleashed 20% inflation
That's a half-truth ... factor in post-covid blues.
How many times do you have to remind the windbag that decrepit Ol Joe left behind a healthy economy.
No he didn’t….he left behind a boot strapped economy, in part because there were Covid knockon effects, but largely because he spent at exactly the time he should have tempered spending. Which resulted in huge increases in interest rates, which affects all capital spending. Read and learn from Chat:
When President Joe Biden took office in January 2021, the Federal Reserve's target for the federal funds rate was 0.00% to 0.25%, a historically low range maintained to support the economy during the COVID-19 pandemic. This rate had been in place since March 2020. ?
As of April 2025, the effective federal funds rate stands at approximately 4.33%. This reflects a series of rate hikes initiated by the Federal Reserve starting in March 2022 to combat rising inflation. The rate peaked at 5.33% in 2024 before being reduced to the current level. ?Home+2YCharts+2Federal Reserve Bank of New York+2
Therefore, during President Biden's term, the federal funds rate increased from near-zero levels to over 4%, marking a significant shift in monetary policy in response to evolving economic conditions.?
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caused by the master of chaos and mayhem
President Donald Trump's steep new tariffs, according to economists, will cause a variety of products to soar in price — from fruits and vegetables to vacuum cleaners to building materials. Agricultural products are another concern.
CNBC's Lori Ann LaRocco describes the worries of farmers in an article published on April 28.
"In the U.S. farming sector," LaRocco explains, "the damage has already been done, and the economic crisis already begun. U.S. agriculture exporters say the global backlash to President Trump's tariffs is punishing them, especially a decline in Chinese buying of U.S. farm products, leading to cancelled export orders and layoffs."
Agriculture Transportation Coalition (AgTC) Executive Director Peter Friedmann told CNBC, "It is a full-blown crisis already."
"AgTC says 'massive' financial losses are already being shared by its members as a result of the trade war, based on reports it is receiving from member companies," LaRocco reports. "A wood pulp and paperboard exporter reported to the trade group the immediate cancellation or hold of 6400 metric tons in a warehouse and a hold of 15 railcars sitting in what is known in the supply chain as 'demurrage,' when fees are charged for delayed movement of goods.
LaRocco adds, "Meanwhile, the exporter said there are 9000 metric tons on the water to China expected to arrive on May 13 and facing the threat of costly diversion to Chinese bonded warehouses or to other countries as Chinese buyers may refuse the cargo and abandon it at port."
According to LaRocco, a grass seed exporter "told AgTC it received two weeks notice that eight loads were being canceled by Chinese customers despite vessels bookings already being in place."
"Agricultural exporters are warning that there are not additional markets to quickly replace China’s demand and absorb the volume," LaRocco notes, "and that is already impacting prices."