It has always been clear that Fox News pundit Chris Wallace is a defender of all swamp activity based on his social network within the same cocktail circuit; however, today he completely dropped all pretense and launched a full propaganda effort on behalf of Wall Street, Multinational Corporations and the Global Financial Community.
White House Trade and Manufacturing Advisor Peter Navarro appears on Fox News and Wallace literally takes the talking points of Goldman Sachs Asian Investment Division, complete with graphics, and attempts to argue -despite empirical evidence to the contrary- that tariffs have made consumer prices rise. This segment is just ridiculous:
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To retain their export position -and offset the tariffs- China and the EU have devalued their currency; and China is directly subsiding their manufacturers. A lower ¥uan, and a lower €uro make the value of the dollar rise. That means it takes less dollars to import Chinese and European goods. That means prices do not rise. That’s just a fact.
Additionally, the graphic made by Fox News to push their propaganda is literally from Goldman Sachs, Asian Investment Division. Look:
Also notice how they use 103% index to make it appear a big number. Ridiculous. It’s 3 percent… which entirely proves the point being made by Navarro and President Trump. The 25% tariffs have been in place for over a year. The Steel and Aluminum tariffs are almost two years old…. and yet the cumulative effect of all that is 3% to consumers?
DUH !! That’s Navarro’s argument proved in Wallace’s stupid graphic.
Inflation is currently wiggling around 1.4 to 1.5 percent while the rest of the world tries to avoid higher prices to U.S. consumers because they don’t want to lose their market position in the most valuable economy, the USA.
Goldman Sachs, just like the rest of the Wall Street multinationals, have invested billions in overseas manufacturing while ignoring the impact to Main Street USA. Now they are fighting to keep the ‘rust belt’ rusty.
The IMF is now upgrading their forecast of U.S. economic growth; and admitting -in essence- that President Trump’s America-First agenda is relocating global wealth back to the primary host nation known as the U.S.A. The increase in their forecast isn’t a small increase, it is essentially adding .3 percent (from 2.3% to 2.6%) or $60 billion more.
The U.S. economy was the host for around 50 years of parasitic wealth exfiltration, or as most would say “distribution”. [Note I use the term *exfiltration* because it better highlights that American citizens paid higher prices for stuff, and paid higher taxes within the overall economic scheme, than was needed.]
President Trump is the first and only president who said: “enough”, and prior politicians who didn’t stop the process were “stupid” etc. etc. Obviously, he is 100% correct.
For the past 30 years the U.S. was a sucker to keep letting the process remain in place while we lost our manufacturing base to overseas incentives. The investment process from Wall Street (removal of Glass-Stegal) only made the process much more severe and faster. Wall Street was now investing in companies whose best bet (higher profit return) was to pour money overseas. This process created the “Rust Belt”, and damn near destroyed the aggregate manufacturing industry.
Fast forward to 2017 through today, and President Trump is now engaged in a massive and multidimensional effort to re-balance the entire global wealth dynamic. By putting tariffs on foreign imports he has counterbalanced the never-ending Marshal Plan trade program and demanded renegotiation(s). Trump’s goal is reciprocity; however, the EU and Asia, specifically China, don’t want to give up a decades-long multi-generational advantage. This is part of the fight.
One could argue that China’s rise happened inside this period, and as a consequence they have no comprehension of an economic history without the institutional advantages. They’ve never competed with the U.S. under any terms of equivelence or fairness; they’ve only ever known the advantages. Combine that with the Chinese communist mindset and you get the extreme severity of their position.
So yeah, there’s going to be pain – for them; massive economic pain – as the process of reestablishing a fair trading system is rebuilt. This dynamic is the essence of reciprocity that benefits Main Street USA. Unfortunately, putting ‘America First’ is now also against the interests of the multinationals on Wall Street; so President Trump has to fight adverse economic opponents on multiple fronts…. and their purchased mercenary army we know as DC politicians.
No-one, ever, could take on all these interests. Think about it… The EU, Asia, World Bank, International Monetary Fund, China, Russia, U.S. Chamber of Commerce, Iran, U.S. Congress, Democrats, U.S. Senate, Wall Street, the Big Club, Lobbyists, Hollywood, Corporate Media (foreign and domestic), and the ankle-biters in Never Trump…. All of these financial interests are aligned against Main Street USA and against President Trump.
– no one is forced to buy anything from anyone
– if China does not eat the bulk of tarriff $’s, their advantage is lost to others who will swarm
– math phobics cringe at the sight of this and any chart
– non-phobics read this chart as non-tariffed goods prices have DECLINED 1% under DJT tariffs
– non-phobics read this chart as 25% tariffed goods prices have RISEN 2.5% under DJT tariffs
– non-phobics wonder who’s paying the other 22.5% of DJT tariffs
– come 9/1/19, this 25% will be levied across-the-board on the remaining goods from China
– to prevent others swarming the markets, China will protect themselves, again eating costs
– how much they eat depends on other nations & economies desire and ability to capitalise
– in Adam Smith’s Wealth of Nations (https://d.pr/n/LRMYFG) we find the reasons why bakers etc. thrive or die within a market /var/folders/j7/7_cxzfn97k1dpz3hfdskfphh0000gq/T/at.EternalStorms.ScreenFloat-appstore/ScreenFloatDraggingTemps/0E4994E9-4469-4E13-BC65-390421EFCBFC/Shot from clipboard (8-4-19, 7-50-48 PM).png
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I have been told on decent authority that manufacturers in China have gone to their government and demanded their taxes be lowered to offset the losses they re being forced to take due to tariffs. The government acquiesced.
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most charts are myopic and are intended to visually sway the ignorant…show me the full content and the long term trend
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I repeat, this is not a trade war.
PRC is a fundamental threat to freedom everywhere.
Potus and the wolverines know there are two choices: China reforms or decoupling.
Wallace, amongst others is an appeaser and apologist for China. #GrearChinaPayroll
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I beg to differ in this particular matter, A2.
IMHO, Chris Wallace is nothing more than a presstitute. He will say and defend whatever he’s paid to say and defend by his Fox masters. Simple as that. In most cases, a nincompoop like Chris Wallace does not even understand what he’s asked to say; he’s a corrupt simpleton.
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One thing does not rule out the other.
Anyone who makes the case for giving up on tariffs the goal of which is to force China to change their behaviour, whether motivated by anti-Trumpism or being paid to do so (thanks for making my point) is a China apologist and appeaser.
His point of attack is exactly what the PRC argues. And I can show hundreds of PRC propaganda to back it up in addition to the hundreds I have posted here before. It’s like an echo chamber.
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I think this is an accurate assessment of Mr. Wallace.
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These tariffs have had very little effect on American consumers. Exporters, especially China will front load as many shipments as possible before September 1, 2019 tariff increase.
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Just last week Fox News brought back neocon hater-never-Trumper Steve Hayes.
In 2016 it was Chris Wallace, Megyn Kelly and Brett Baier attacking Trump.
Sounds like Steve Hayes is trying to follow in Megyn’s foot steps. One can only hope. He helped speed Weekly Standard’s demise.
Fox News gives me heart problems.
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“No-one, ever, could take on all these interests. Think about it… The EU, Asia, World Bank, International Monetary Fund, China, Russia, U.S. Chamber of Commerce, Iran, U.S. Congress, Democrats, U.S. Senate, Wall Street, the Big Club, Lobbyists, Hollywood, Corporate Media (foreign and domestic), and the ankle-biters in Never Trump…. All of these financial interests are aligned against Main Street USA and against President Trump.” sundance
….. AND precisely as sundance has stated above is the reason I will REITERATE the
following – there is NO-ONE, ABSOLUTELY NO-ONE, like our BELOVED PRESIDENT TRUMP…..
….AND PDJT WILL DRAIN THE SWAMP.
….AND HE WILL go down as the GREATEST PRESIDENT
IN THE HISTORY OF THE UNITED STATES OF AMERICA.
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Navarro should have been even more forceful. He did a great job but if I were him I would have just kept talking until I was done with my statement. Wallace’s technique here is to drop a large turd and then force the other person to deal with it in a very limited amount of time, and then suddenly Wallace has to “move on” and drop the next large turd
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Liked when Navarro told Wallace to stop interrupting him.
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I’ve said it before and I’ll say it again. Chris Wallace is a turd.
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Has pence been any help , does pence get it ?
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I’d say no, Pence does not get it. I do hope that in 2020 Pres. Trump finds a more likely VP candidate to succeed him.
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Think about it… The EU, Asia, World Bank, International Monetary Fund, China, Russia, U.S. Chamber of Commerce, Iran, U.S. Congress, Democrats, U.S. Senate, Wall Street, the Big Club, Lobbyists, Hollywood, Corporate Media (foreign and domestic), and the ankle-biters in Never Trump…. All of these financial interests are aligned against Main Street USA and against
President Trump…… and Trump and US Deplorables have them Surrounded !
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You don’t make committments to Trump and then at the last minute renig on the deal that was agreed to thinking Trump will just settle for your sandbag job. China, you will thoroughly regret that.
You’re not dealing with a Kerry.
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True. A typical pol would have taken the original concession, touted it as an accomplishment, and never looked back when his position was ignored in bad faith. The typical pol, whether consciously or subconsciously, relies on the short memory and small attention span of his constituents. This is why substance, which require diligence, never matters to them. Follow through is hard, and not particularly profitable for politics.
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Trump needs to teach how to govern to the next generation, a conservative presidential school , so we don’t have to pray for the next Trump’s every 30 years,
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TheConservativeTreehouse is the best site on the Internet. Not only for excellent analysis of the important events occurring, but also for the dynamic language used. =
[Big multinational corporations and Wall Street] ~ “Now they are fighting to keep the ‘rust belt’ rusty.” +
“President Trump has to fight adverse economic opponents on multiple fronts…. and their purchased ~>mercenary army we know as DC politicians.”
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TCT puts issues and facts in perspective as well or better than almost any other source. Their work is invaluable in the quest for truth.
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This was a truly repulsive example of an interview. I can only imagine Chrissy went to Andy Weissmann and got a few quick tips on how to interrogate a guest. Chrissy had the questions ready and wanted immediate concise responses, not answers. I loved it when Chrissy said something to the effect of I asked my question in less than 20 seconds and I expect your response to be the same.
Chrissy was totally repulsive. I could smell the swamp stench miles away!
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2.3 to 2.6 is actually a 13% increase.
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In other words, as Sundance wrote “it isn’t a small increase”, and gave it in absolute dollar terms to make the point.
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The results of the strategy seem real enough that there’s this headline: “Kuo: Apple Likely to Absorb Any US Tariff Cost Increases on iPhone, iPad, and Mac” https://www.macrumors.com/2019/08/05/kuo-apple-to-absorb-potential-us-tariff-costs/
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Notice the example goods were tablets and phones. Trump’s shot across Apple’s bow recently is being returned the only way it can – through this G.S. and U.S. Chamber or Commerce advocacy. It occurred to me right away that Apple could relocate their manufacturing, were it not perhaps for the combination of inducement and threat that they face in China. Oh well.
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Never Trumpers like Chris Wallace and Bret Baier have made Fox nearly unwatchable. Their interview methods are designed for public impact at the expense of truth and balance. Real journalism is dying a slow death over at Fox News, but it is dying just the same.
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At least little Chrissy is open and honest about his socialist/globalist/NWO/America-hating ideology, unlike his sneaky socialist/globalist/NWO/America-hating father.
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Just now on Lou Dobbs, He brought up this farcical graph with Navarro. Also mentioned how Krissy said it was an official government statistical analysis, when it turned out it was actually from Goldman Saks.
Krissy gonna be bitchy tonight! Let’s see if Dobbs gets excoriated for telling the truth.
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