Re:China to raise reciprocal tariffs on U.S. goods to 84%
by mindslight on Wednesday April 09, 2025 @11:43AM
(#43633406)
Currently, China is giving the US real physical goods in exchange for paper IOUs denominated in USD which China then mostly just holds on to. If the US stops this trade, China can keep manufacturing the same products and dump them in a hole in the ground.
This whole tariff narrative is based on upside down thinking where obtaining material goods somehow constitutes a liability. Are we really that far detached from reality that these memes have legs? I guess so!
Yearning to go back to some idyllic past when there was more scarcity is not going to save us, rather it's just going to destroy our own country. The only way forward is positive government action to mitigate the corrosive economic effects of abundance, especially the fast-forwarded abundance from having the world reserve currency.
The government has been dropping the ball on doing anything to meaningfully address this for the past several decades - instead being beholden to the disingenuous calls for "fiscal conservatism" or "fiscal responsibility", which have resulted in anything but responsibility or conservative behavior. Rather the same new money has all still been created - it has just been handed to banks to create asset bubbles rather than being used to purposefully mitigate the economic damage.
This whole tariff narrative is based on upside down thinking where obtaining material goods somehow constitutes a liability. Are we really that far detached from reality that these memes have legs? I guess so!
Yearning to go back to some idyllic past when there was more scarcity is not going to save us, rather it's just going to destroy our own country. The only way forward is positive government action to mitigate the corrosive economic effects of abundance, especially the fast-forwarded abundance from having the world reserve currency.
The government has been dropping the ball on doing anything to meaningfully address this for the past several decades - instead being beholden to the disingenuous calls for "fiscal conservatism" or "fiscal responsibility", which have resulted in anything but responsibility or conservative behavior. Rather the same new money has all still been created - it has just been handed to banks to create asset bubbles rather than being used to purposefully mitigate the economic damage.