ExtantHuman @ ExtantHuman @lemm.ee

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4 mo. ago

You've made it obvious you're the one who doesn't understand ANY of this.

MMT relies upon taking in debt.

People have to have trust in the entity taking on the debt to give it the loan. Doing insane shit that causes the global trade to abandon the USD as the reserve currency means waaaaay less entities are willing to loan that money.

Which means interest needs to be higher.

Which also increases inflation more rapidly.

Which breaks the entire concept behind MMT being a useful tool.

It would NOT have been a byproduct, and I explained why already.

"Nuh uh" is not a rebuttal.

He certainly moved fast and broke our economy. That's not a good thing. Pretending it is shows your nativity.

You're acting like "the basis of the concept of a tariff" matters when the tool is used poorly.

Also, the long term effects of this implementation would not have been beneficial, it would only shrink US trade as it makes itself both irrelevant and an irrational unpredictable partner.

You really sound like you have the most surface level understanding of what is happening. MMT doesn't work when you remove your status as the reserve currency by doing this shit.

I've acknowledged like the ~two times he had a good idea. This is not one of them, and wouldn't accomplish what the OC wants to see accomplished.

It's a bad idea all around. On top of being illegally executed.

Modern monetary policy falls apart when the globe decides to just ignore the US because it's isolated itself from global trade through idiotic policy.

No serious economists are claiming this implementation as anything other than absolutely insane.

Except his tariffs weren't doing anything to change that dynamic.

So, in fact, you do not agree with him in tariffs.

If you want to bring back manufacturing to the US, you didn't start off your tariff war by increasing the price of every single raw material we need to build those factories and their products. Which is what he did. He had imposed tariffs on steel, wood, aluminum, etc even before his "liberation day" tariff the planet stunt.

Yeah, several board game companies straight up closed. Trump killed small businesses. Trump killed family owned farms. Trump killed people with his covid shit policies.

They're also leverage for bribes.

I'm sure some precedent was set during a mutiny trial in the Roanoke colony or something...

You don't get any more bribes if you hold no power worth getting bribes for.

These are greedy people. There's never "enough" for them. Closing off that channel is not in their own self interests.

Well yeah, putting tariffs on that penguin Island, all of Europe, and whatever else the LLM told him isn't going to do fuck all to reduce any fentanyl he claims is coming from Mexico

I can see from the graph in the thumbnail that it very obviously did.

You'd be suing the government for damages, not him as an individual.

Maybe he should try doing this legally for once. He might see fewer setbacks

That was the ENTIRE POINT of DOGE

Once again proving that Republicans do not have a cohesive ideology.

They want [certain] people to have more kids, but at every single turn make it harder for people to have and support kids.

We all know who ultimately wins the fast food wars, though.

A federal judge just overturned his illegal tariffs, so we can move on from this idiocy. Tariffs are Congress' domain. His bullshit excuse for stopping the "fentanyl state of emergency " doesn't fly for global tariffs when there's at most 1 country you could apply that excuse to - and his tariff negotiations didn't even address that issues.

Let's not pretend this is normal for the US to pull a complete 180 on all our allies overnight, at the whole of a fucking moron who thinks he can bully others into giving him what he wants, only to realize that he caused all this chaos for nothing. Just because we were fairly isolationist 150 years ago before the US was globally relevant