Capitalism Rules, Socialism and Communism Suck Thread

[BananaStand]

What is fraudulent about it? I get that it's biased, but I'm confused on where the fraud is.

It's presented as bad economic news, when it is clearly good news.

It is intentionally deceptive. Fraudulent.

[wufwugy]

It's presented as bad economic news, when it is clearly good news.

It is intentionally deceptive. Fraudulent.

How do we know that is good news? I can tell you without even asking them that every one of my economics professors would say it's bad economic news. All the economists I read who don't like Trump, it's because of this stuff. Where did Paul Krugman derive his prediction of demise and never-recovery of the economy from a Trump victory? From the belief that Trump would do a tremendous amount of what is in the article.

I agree with them that on the surface, this is not good news. But really, it depends, we don't know the details. Yet, if it's the case that LG has higher costs to make the same product now and that's why the price is going up, that is not a good thing. Part of my apologetics for Trump on this issue is that I do not believe that his intention was ever to have that effect. Also there are other indirect effects that economists do not adjust for that I believe are real. But, by itself, the article is presenting the initial observation most economists have about this sort of thing.

[BananaStand]

How do we know that is good news?

Obviousness

I can tell you without even asking them that every one of my economics professors would say it's bad economic news.

More obviousness, your professors are on crack.

All the economists I read who don't like Trump, it's because of this stuff. Where did Paul Krugman derive his prediction of demise and never-recovery of the economy from a Trump victory? From the belief that Trump would do a tremendous amount of what is in the article

How's that prediction working out?

I agree with them that on the surface, this is not good news.

It's only bad news if you don't live in America. I'm sure you and your professors are viewing this through some kind of "globalization" lens

But really, it depends, we don't know the details

What details do you need?

Yet, if it's the case that LG has higher costs to make the same product now and that's why the price is going up, that is not a good thing.

This statement is only true if you stop thinking right there. However, spend about two more seconds pondering what this could mean, and then tell me how it's not a good thing. The higher price makes LG's product less competitive. In order to remain competitive LG must reduce it's cost. It can do that by moving operations to the US, which it is already doing, for precisely this reason. This relieves the pricing problem and replaces korean jobs with american jobs.

Also, there is an effect on American companies already producing washing machines that I'll bet they are quite happy about.

Part of my apologetics for Trump on this issue is that I do not believe that his intention was ever to have that effect.

STOP! Cmon wuf. They guy has been screaming from the mountain tops that tax cuts are good for businesses.....what do you think he thought would happen if he raised taxes on a business?

Also there are other indirect effects that economists do not adjust for that I believe are real. But, by itself, the article is presenting the initial observation most economists have about this sort of thing.

No, the article is presenting a piece of anti-Trump propaganda disguised as an economic story. The headline reads, in effect, "Trump made stuff more expensive for you" When the auto industry moved jobs to Mexico, did the news media run headlines like "Dodge Rams are about to get cheaper"

[wufwugy]

How's that prediction working out?

Nobody calls Krugman as big of a loser as I do.

It's only bad news if you don't live in America. I'm sure you and your professors are viewing this through some kind of "globalization" lens

The globe isn't even a part of it. In closed economy models, increasing real costs for the same result lowers value.

This statement is only true if you stop thinking right there. However, spend about two more seconds pondering what this could mean, and then tell me how it's not a good thing. The higher price makes LG's product less competitive. In order to remain competitive LG must reduce it's cost. It can do that by moving operations to the US, which it is already doing, for precisely this reason. This relieves the pricing problem and replaces korean jobs with american jobs.

I agree. There is a lot more to it.

No, the article is presenting a piece of anti-Trump propaganda disguised as an economic story. The headline reads, in effect, "Trump made stuff more expensive for you" When the auto industry moved jobs to Mexico, did the news media run headlines like "Dodge Rams are about to get cheaper"

They're reiterating a pretty standard view of a simplistic view given by economists.

[spoonitnow]

No, the article is presenting a piece of anti-Trump propaganda disguised as an economic story. The headline reads, in effect, "Trump made stuff more expensive for you" When the auto industry moved jobs to Mexico, did the news media run headlines like "Dodge Rams are about to get cheaper"

It's because of stupid fucking cucks who don't want to take responsibility for anything.