Prices of Goods in the U.S. Did Not Rise At All Despite China Tariff Hike

Why would you hope that the economy tanks? That's pretty sad and pathetic.

 

Hi, rahl... so how much have prices on everything you buy that are shipped here from China skyrocketed in the past year? Yeah, boy, I'll bet it's those darned Trump-tariffs that are raping our economy... right?

 

I thought the tariffs were paid by US buyers of the Chinese stuff, in the form of higher prices?
Or do I have it back to front!

 

I'll leave you with these two numbers below, thoroughly defeated and humiliated as always.... feel free to cry on "LangleyMan's" shoulder, I promise, he'll be very receptive and sympathetic

Median household income:

2016 Obama: $57,600
https://www.census.gov/content/dam/Census/library/publications/2017/acs/acsbr16-02.pdf

2019 Trump: $63,688
https://seekingalpha.com/article/4244715-median-household-income-january-2019

 

That is the way that the Democrats have explained how it would work... but, so far, it hasn't worked that way at all.... If you ever shop at Walmart, or even better, at a Harbor Freight Tools store, you know exactly what I'm talking about....

But, maybe the Democrats are right and everything that ships into the United States from China (except TV's, I guess) costs enormously more than it did just a few months ago -- but we here in Colorado are being spared the gigantic cost increases everybody else in the country is being slammed with, probably because we're so wonderful and everything...? . Yeah... sure....

And if you like your health insurance plan, you can keep your insurance plan. And if you like your doctor, you can keep your doctor. You know, those same people who told you that are the same ones who are telling you that everything from China costs much more now... but you may not realize it because Democrats know that nobody but themselves can have figured all this out yet.

 

Walmart says higher tariffs on China goods will increase prices for U.S. shoppers
Walmart said the company will also try to obtain products from different countries and work with suppliers to blunt the impact of higher tariffs.
https://www.nbcnews.com/business/co...s-china-goods-will-increase-prices-u-n1006366

 

Bravo, Borat! But remember, those kinds of statistics don't mean much to a group of people who get a lot (or nearly ALL) of their houseold income in the form of handout welfare or "subsidies" (just another form of welfare) from the GOVERNMENT, and, who don't pay any income taxes at all....

. "Dude, like I give a sh!t what the 'national debt-to-GDP ratio' is...?!"

 

Yeah, but, IT HASN'T HAPPENED YET, HAS IT...?! I can sit here and predict the end of the world... someday... but it hasn't happened yet, has it...?

It may not be apparent, but what they've done in saying this is known in business-circles as "covering your ass"... so that your customer base won't hate YOU if things do get out of control! But, it hasn't happened yet, has it...?

 

No, let's begin with the fact that real wages are what they were in 1Q 2017. No increase. None. Zip. I gave you the figures from the St. Louis Federal Reserve.

The economy is growing about as fast as it was five years ago.



We're late in the recovery. We're running out of labor. The last people added to the workforce tends to be the least productive. Costs are increasing. Trump squeezed out a little extra growth by running a $1t deficit, up from $500b under Obama. But all the additional growth leaves us about where we were in early 2014.

Get real.

 

Actually it's happening before your eyes.

But your an example of why the tariffs won't work. Your still buying the stuff and you don't even know the price went up.

 

You guys aren't serious--real wages are in Q2 2019 what they were in Q1 2017. No change.

You're no friend of wage earners.

 

Yes we get it. You can look at the actual data and see the exact opposite of what it actually says. The ability you trumpets have of detaching yourself from reality is amazing.

 

The last six months suggest prices have started to move up.

 

Don't argue with me, argue with these official census.gov numbers. The way you run around here with your hair on fire, unable to refute them and instead spamming this thread with one silly chart looks pathetic and desperate. Smelling the defeat of your lying democratic political midgets in 2020 already? Yep, you should.

Median household income:

2016 Obama: $57,600
https://www.census.gov/content/dam/Census/library/publications/2017/acs/acsbr16-02.pdf

2019 Trump: $63,688
https://seekingalpha.com/article/4244715-median-household-income-january-2019

 

That's what the left said would happen but apparently china lowered prices to stay competitive

 

Did you miss this?

 

This might be where households first notice a hit.

“Walmart, Macy's and other major retailers have been left largely unscathed by the first several rounds of tariffs since they focused more on industrial and agricultural products. But that changed last week when the Trump administration slapped 25% tariffs on imports like furniture. The administration wants to extend the 25% tariffs to practically all Chinese imports not already hit with levies including toys, shirts, household goods and sneakers. That's roughly $300 billion worth of products on top of the $250 billion targeted earlier”
https://wqad.com/2019/05/17/why-walmart-says-theyre-raising-their-prices/

 

Yeah, sure--disagree with the St. Louis Fed.

Anyway, you're looking as household income, not the real wage. Do you understand the difference?

 

I think a hike is off the table, the lack of inflation I think caught the Fed on the wrong foot. I suspect that they bought the wrong view that tariffs, economic growth and wage increases would be inflationary, when real world measurements indicate that rather than inflation we are importing some deflation as tariffed suppliers cut their prices in an attempt to maintain their market share in the US economy.

The case for a cut would be supported by soft GDP numbers. GDP Now is sitting at 1.6%, the Blue Chip Consensus is in the range of 1.2 to 2.4 and all these forecasts seem to consistently miss the Trump economy to the low side.

They are still rolling assets off their balance sheet, and have been through the entire Trump Presidency.

 

Yes, on less than half on what China sells us, Trump went from a dime to a quarter. China handled the dime by cutting their prices, let's see if they can similarly swallow a quarter, they probably can, which makes one wonder just how much they can swallow.

Those additional tariffs were mentioned but not levied, when China broke several commitments they had made in the lead up to a trade deal, at the very last moment. They expected Trump to cave and instead he raised them from a dime to a quarter. The increase on the additional $300B is an option that Trump has so far not exercised while China reconsiders their previous commitments that they backed away from.

 

Those are some inconvenient numbers for the left.

 

Hmm.... household income... it's like that thing American families earn, pay taxes on (significantly reduced by Trump's tax reform btw), then spend on groceries, toys for children, vacations...the better things in life...Right?

And that thing... hmm... that household income thing that American families enjoy... it went from $57,600 under Obama to $63,688 under Trump in just a matter of 2 years, after being stagnant for decades under multiple Democrat administrations, right? Nice loot in the middle class' pocket, don't you think? But then, you are running around like a trained monkey with a bogus chart, promoting those swampy democrats of yours whose promises during the last 40 years have proven to be brazen lies. Keep up the good work, comrade!

 

Trump's tax cuts weren't that significant as 85% of them went to people making more than $400,000.

Household income is up because more household members work more hours, not higher pay.

Household income went up under Obama, too--unemployment was going down.

You're not worth my time other than to point out your propaganda.

You don't care about the truth.

 

Wages flat, hours up, income up.

 

Trump is making dems seem uninformed.