Tag: tariffs

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Trumpenomics — The best way to save money is to waste it

Bryan Zepp Jamieson

April 12th, 2025

G. Elliot Morris, formerly one of the guiding geniuses behind the late, lamented 538 website, came up with this tidbit today: “According to the Hamilton Project data, the U.S. government has spent $2.17 trillion as of April 10, 2025, at 7:00 p.m. ET (the data, which comes from the Treasury, is updated in near-real-time). That is just shy of a 6% increase over spending on the same date in 2024 when the feds had spent “just” $2.05 trillion at this point in the year. This puts the US federal government on track to spend $8 trillion this year, barring other budget changes…”

As odd as that stat is in light of ElonTrump’s chainsaw ‘cost-cutting’ measures, it only tells a small part of the tale. In fact, trillions of dollars have been lost over the past two months to waste, fraud and abuse, and even though Trump had to scurry back on his “Liberation Day” tariffs in light of a potential total economic collapse, the wholesale destruction will continue.

The slashes to government programs, big and small, have been capricious, arbitrary, and often cruel. Thousands of on-going projects have been stopped in their tracks, even though the money for them had already been allocated and spent, meaning that money—hundreds of billions—has been thrown away. Just the ongoing research programs that just got torched alone were in the billions.

They’ve gutted thousands of departments by taking a very systematic and subtle approach: just fire anybody who a) is on probationary status and b) has a vowel or a consonant in their name. This meant every promising new hire who hadn’t been there two years yet, all temporary employees, and anyone who had just been promoted for doing a superior job but whose promotion came with probationary status. With no regard to capabilities or functions.

Courts have ordered thousands of employees unfired, and many of those returned to find their chairs, their desks, and their computers all gone, either trashed or dumped at fire sale prices.

Many of the most important (and popular) government programs, including the Department of Education, NOAA, NASA, Department of the Interior and Social Security are being gutted. That last one, which makes up about 10% of national economic income for the general public, is teetering and in danger of collapse. They want to privatize the Post Office, which means thousands of non-profitable rural post offices will close even as the price of sending a letter explodes ten-fold.

I’ve actually had right wingers whine that we wouldn’t be complaining if a Democrat did to the government what Trump is doing. Typical of MAGAts—they love to howl about what victims they are as they rape and bully everyone around them.

Fact is, Democrats DID cut government spending, and even balanced the budget. This was in Bill Clinton’s second term, with vice President Al Gore overseeing the government efficiency task force. It was called “Reinventing Government” It eliminated what Elaine Kamarck, administrator of the program, said was “more than 400,000 federal positions between 1993 and 2000 through a combination of voluntary departures, attrition and a relatively small number of layoffs.”

Hundreds of departments were merged or eliminated, and the savings were so great that the Clinton administration had the first (and last) balanced budget since 1968. The day George Bush Jr took office, newspapers and economists where rhapsodizing about “surpluses as far as the eye can see” and there was serious talk of retiring the national debt by 2010. Of course, Republican fiscal fecklessness and greed, serving the notion that the national treasury should be the plaything of the very rich, eliminated the surpluses and instead created record floods of red ink, which their propagandists assured the public was the result of “Democrat spending.” It was a lie, but it was repeated endlessly.

And Reinventing Government slid into the memory hole, partly because it didn’t support the fascist narrative, and partly because it worked exactly the way government was supposed to work: democratically, with decision-making and responsibility shared between Congress and the executive, and with time taken to determine what jobs and projects served a good purpose and which were just accumulated fat. It worked so well hardly anybody even noticed it.

So the next time some wankers moan in self pity that people just hate right wingers, it isn’t politics or factionalism; it’s disgust for greed, incompetence, capriciousness and viciousness. The Democrats used competence, honesty, and good faith. The difference is night and day. People don’t hate Trump and Musk for “saving money”; they hate them because they are hateful people who are destroying the country and selling it off for parts and at our expense.

Even though Trump had to back off on his massive tariffs folly, the damage is already nearly unrecoverable. Not just the incredible waste and incompetence of his “cost-cutting”; the extraneous damage inflicted.

The bond market is teetering. US bonds are the “safe haven” for investors during market crashes, something that New Deal economics took out of our lives which Reaganomics restored. Stocks tank, you invest in bonds and wait it out.

But bonds depend entirely on “The Full Faith and Credit” of the United States, and under this administration, nobody trusts that government. As far as good credit goes, the US might as well be Zimbabwe. And the bond market—nearly $30 trillion in size—relies entirely on trust in the US government.

You hear a lot about China owning a chunk of that, and it does: about $1.8 trillion. About 6%, more or less. A small but significant share. (Most of the bond market is money the US owes to itself).

Trump is going out of his way to antagonize and even insult the Chinese with his mindless bluster. If China tanks the bond market, they will take great economic damage. But the US would be ruined. It would take decades for the nation to recover, and it wouldn’t look anything like the US that we all enjoyed in the 20th century.

It’s clear Trump isn’t running the show: his plutocrats, including Musk, are. But they aren’t noticeably smarter or more competent, and often mistake greed for wisdom. Most of them have the compassion and knowledge of Charles Montgomery Burns, Homer Simpson’s boss. Two words: Howard Lutnick. And he’s not even the worst one: far from it. Trump’s Secretary of Education is talking about using that thinking computer thingie for educating the kids, what was it she called it? Oh, yes, “A-One.”

Hope she didn’t pick Hewlett-Packard for the computers. Everyone knows HP and A One are competitors.

Sheesh.

 

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Trump America — Another business destined to fail

Bryan Zepp Jamieson

April 5th 2025

When the Dow drops 3,600 points—9% of its value—in just two days, it’s pretty safe to say market conditions are ‘unsettled’ in much the same way that Grindavik is unsettled.

My guess is we’ll see a partial recovery Monday, and then the slide will resume. It’s illegal to manipulate markets for a quick and dirty profit, but that’s hardly going to slow down Donald Trump, America’s most powerful con man. He’ll keep right on making announcements that will manipulate the market to his advantage.

The game has already begun. Erik the Moron piped up today, saying that the tariffs were “negotiable” and the first countries to negotiate would get the best deals.

While that made perfect sense to a dimwitted conman, it will also completely blows up the premise behind Trump’s tariffs. The stated reason is that it will force manufacturing to either move to America or start up there. But that means the tariffs have to be inflexible and permanent. Nobody is going to go to the trouble and expense of moving their operations stateside only to find the tariffs have been dropped or reduced and they find themselves competing with competitors back in their previous locales who didn’t move.

The sheer hucksterism of “move now because these deals won’t last” is pretty jawdropping.

Of course, to make a factory that was paying its employees $1.50 a day to set up shop in America means that to make it work, the have to slash pay scales and find a way to greatly reduce all other costs to match what they were paying in Vietnam or Laos or wherever. In other words, to make it worth the overhead of the tariffs, they would have to cut everything to third world levels: no OSHA, no FDA, no EPA, no minimum wage, nothing.

Donald, of course is working hard to get rid of all that crap. It’s patriotic to send your eight year old to work in a poisonous, dangerous place where they might live to be 12 if they’re lucky. Florida is already working on legislation to replace migrant labor with child labor. No, I’m not kidding.

Warren Buffet, who knows a thing or two about the markets, suggested that Trump also inflicted the incoherent tariffs in order to drive interest rates up, something that would also greatly profit the markets. That statement left Donald screaming in rage, which tells you that Buffet pretty much nailed it.

Trump is openly defying courts, ignoring direct orders not to send innocent people to his gulags, knowing that the five fascists on the supreme court will rule in his favor. It won’t be Donald who ends the United States: it will be Thomas, Kavanaugh, Alito, Gorsuch and Coney Barrett, none of whom seem to realize that once they’ve ended the country, they will no longer have any importance to anyone. Some of them are rich and will do OK in the new plutocracy, but lawn jockeys like Thomas and religious whack jobs like Coney Barret will find themselves on the outside looking in.

Basically, the plutocrats are working to parcel out the United States and make it an impoverished third-world nation while making off with tens of trillions in profits. It’s the biggest heist in history. Then they move on to the next prosperous zone and conduct a parasitic orgy there. China would be a sensible target since it’s already authoritarian. If they aren’t stopped, your life, and the life of your children, will be one of misery and deprivation.

Think Trump and his manipulators are not out to ruin your life and kill your children? Consider this Raw Story news article today: “A federal judge in Rhode Island accused the Trump administration of “covertly” withholding funds for Federal Emergency Management Agency disaster relief programs from states that didn’t vote for him, Courthouse News reported on Friday. In March, U.S. District Judge John McConnell issued a preliminary injunction in favor of 23 states that sued the government over its plan to implement a broad pause to state aid,” noted the report.”

A court finding is a bit more than a accusation. The reason McConnell ruled the way he did was because he had solid, incontrovertible evidence that Trump was deliberately cheating people for the crime of living in a state that didn’t vote for him.

Pussy Riot, indisputably the bravest rock group in the world, showed up in Manhattan today to urge Americans stand up for themselves against Trump’s planned tyranny. The cowardice of the Republicans is well documented. Democrats, as always, are divided on the notion of whether ‘tis nobler to be spineless, gutless, boot-licking cowards or not. Fortunately, most are not.

It’s the same as with the American public, where I’ve had people tell me they won’t come to today’s demonstrations because they want to keep their heads down and survive. Understandable, but I have to wonder what makes them think life outside of Trump’s gulags will be any improvement. He plans to leave you in poverty and squalor. That’s what’s in store. At least in prison you’ll get moldy bread and contaminated water, just like you would outside. And inside, nobody expects you to pretend to love Trump. Hopefully.

As most of you know, four American serviceman drowned in Lithuania in a motor vehicle mishap. Their bodies were eventually all recovered, and as the caskets were taken to the airport yesterday for the flight back to America, thousands of Lithuanians lined the streets to pay their respects.

The servicemen landed today, but Donald Trump wasn’t there.

He had a golf tournament to watch. That was more important than losers and suckers.

The rallies against Trump begin in an hour and a half (I’m finishing this at 7:25 PDT). I’m hoping nationwise five million will show up, but I think three million will get the point across. There may have do be more than one day of rallies, and widespread strikes and boycotts. But if we want our freedoms back, that’s what it’s going to take.

In a world of Cory Bookers, don’t be a Mike Johnson.

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A Tariffic Time Was Had By All — The Art of the Dealt

Bryan Zepp Jamieson

February 3rd 2025

When Donald Trump called me to tell me that if I didn’t give him what he wanted, he was going to slap tariffs on me, I was nonplussed. Weren’t the price of eggs already too high? “Please, Mister Trump,” I begged him. “What do you want, Mister Trump?”

There was a pause. I was sure Donald knew what he wanted when he picked up the phone. But you know, he’s a very important man. Important things to see, important people to do. It gets confusing.

Time to avail myself of an opportunity to fill that void.

“Do whatever you want, but please, please don’t demand I give you Mar-a-Lago. Please. Anything but that!”

“Mar-a-lago, eh?” I heard him give a sly cackle. Clearly, he thought he had be over a barrel. “OK,” he said, “Here’s my offer. I won’t slap tariffs on you if you give me Mar-a-Lago.”

I whimpered convincingly, begging him to spare me. He hung up. I looked at my phone and chuckled.

A few days later, he announced the tariffs on me. He did it on a Friday because nobody watches the news on Friday. I nearly missed it myself.

By Monday morning, the stock market people were talking openly about a market crash. Market people don’t like to talk about crashes, you know. They don’t even like to admit such things exist. Usually if a broker mentions the word ‘crash’ it means he has jumped from the plane, fallen for ten seconds, and just realized he forgot his parachute. Meanwhile, the phrase ‘trade war,’ one hated by nearly all businessmen, was being bandied about. The whole world, it seemed, was mad at Donald.

He gave me a call. “This is your last chance. Agree to giving me Mar-a-Lago and I’ll consider dropping the tariffs.”

“Sorry. Can’t do it.” I hung up.

I turned on the stock-ticker channel and watched the meltdown proceed.

The phone rang. “Give me Mar-a-Lago and I’ll drop the tariffs for two weeks.”

“No good. I’ll tariff you right back.” I reminded myself to call the stock ticker channel and make the same threat. Should put the tech stocks in a tailspin.

I watched the cartoon channel. I didn’t mean to. It’s just a bit hard to tell Looney Tunes from Fox News. Ring!

“As you know, I am a top-flight negotiator, and I’ve given this considerable thought. I want to help you here. I’ll suspend tariffs for thirty days, only by the time a month has rolled around, everyone will have forgotten them. In return, you don’t mention tariffs to anyone. You give me Mar-a-Lago, and I’ll give you $3.5 million just to sweeten the deal and make it look legit for the tax people.”

I spent thirty seconds pretending to think about it. I could almost hear him sweating over the phone. I didn’t want to think what that smelled like.

“Donald, I think we have a deal. You truly are the world’s greatest deal-maker. I tell you this, sir, with tears in my eyes.”

I wondered if any of his flunkies would work up the nerve to tell him he already owned Mar-a-Lago and I had just sold him his own property to defuse a threat he wasn’t prepared to carry out.

The money arrived the next day in the form of a bearer bond. Which was good—I wouldn’t trust a check from that guy.

Pretty good day’s work, really. Think I’ll call him tomorrow and tell him all the people at OANN are secretly woke.

But first, call Prime Minister Justin Trudeau and Presidente Claudia Sheinbaum. Tell them that if they want to avoid a trade war, they should tell him their respective countries won’t swap places on the map, and that Mexico might be willing to sell him Alaska while Canada might sell him Texas.

Just my little contribution to world peace, that.

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Taxing Trump — Making America Tariff-ic Again

Bryan Zepp Jamieson

June 16th 2024

zeppscommentaries.online

Donald is bad enough when he isn’t sounding like Grandpa Simpson on meth. It’s deeply alarming when this 78 year old dimwit prattles on about batteries and sharks. He has somehow concluded that an electric powered boat is far more hazardous in an accident because of the batteries, and you would get electrocuted before the sharks get you. Never mind that all boats with engines have batteries anyway, or that the sharks would get electrocuted, too. Windmills murder birds and cause cancer, it seems, although Trump tower has killed its share of birds and listening to Trump might make you wish you had cancer.

It’s when he drifts from the evils of conservation to the virtues of economic policy where he gets truly terrifying. Its bad enough when he rails about the national debt (40% of which came from his tax policies) or the horrible cost of “illegal” immigrants (who actually ADD about $1.3 trillion a year to the US economy) but now he’s decided that he, and he alone, can fix the cost of paying for the United States to be a going concern.

His proposed solution to our fiscal woes? Eliminate all federal income taxes. You know: our national revenue. Libertarians have come up with variations on that over the years going on the lunatic notion that the best way to cut household expenses is by quitting your job. It’s a reasonable idea: in fairly short order, you’ll no longer have any household expenses. Or any household.

But even Donald understands that government has to pay for stuff. So he proposes to fund the government through tariffs.

Tariffs are basically a tax on imported goods. Donald likes to pretend that the tariffs are a tax on importers, and not the American people, and hopes that none of his brain-dead supporters will stop to consider that importers will raise their prices to compensate, and those increased prices WILL be assayed against the consumers in America. Donald has spoken of a 10% across the board tariff on all imported goods. The US imports about $4 trillion a year, so that would be $400 billion in tariff revenues.

For 2025, the White House projects that revenue from income taxes will be about $2.6 trillion. Payroll taxes are about $2.2 trillion, and corporate taxes would be about $467 billion. (Fifty years ago, corporate taxes were about 60% of federal revenues—and corporations did just fine!) Call it $5.267 trillion in revenues.

It’s not real likely that Donald will keep payroll taxes, since destroying Social Security and Medicare has long been a republican dream. And if you have a calculator capable of multiplying by zero, you can get a good estimate of the chances he’ll want to keep corporate taxes going.

Now, the astute observer may have noted that $5.267 trillion is a larger number than $400 billion. In fact, it’s about thirteen times bigger.

Which means cuts would have to be made. One mandatory payment is interest on the national debt, of which over 80% was created by Republican policies and misadventures, and half of THAT by Donald Trump alone. Those interest payments are about $967 billion a year.

Let’s see: $400 billion minus $967 billion leaves…hmmm.

OK, so we cut EVERYTHING, and we are still in the hole by $567 billion a year. Tch. No military, so social programs, sell the capitol building, get rid of all regulatory agencies, no federal economic development, none of these public schools nonsense. Churches can take all that over, right? There’s about 70 million people who get social security, and for a large majority of them, that’s all that separates them from homelessness and starvation. Churches are gonna be busy, busy, busy.

Some people might take a negative view of that, being people and all. Banks will have huge on-paper wealth from all the homes they’ll foreclose on by the millions until they find out the homes can’t be sold because everyone is broke. Then they all crash, including the ones Donald owes money to. He’ll like that.

Well, Donald does have a solution. Bigger tariffs on countries he doesn’t like, which is pretty much all of them except Russia. He has already suggested a 50% tariff on all cars from China. Given how much he loves countries south of here or in Africa, expect him to levy huge tariffs there.

But there’s a fly in the ointment. Other countries might take exception, and impose tariffs of their own. The technical term for this is “trade war” and it’s destroyed many economies.

The US exports about $3.3 trillion a year. Losing a chunk of that to an economy already reeling from an economic slow-down of over $10 trillion a year and tens of millions starving isn’t going to be very helpful. The good news is it can’t do that much more damage.

Ever seen the Mad Max movies? Consider them to be the blueprint for Donald’s Five Year Plan.

If Trump gets elected, buy all the salt, spices, bullets and cat food you can. You’re gonna need it.

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Milkin’ It — Why Canada Won’t Be Cowed By Trump

By on Saturday, June 9, 2018

June 9th 2018

Bryan Zepp Jamieson

In the chaotic and insane presser Trump gave at the G6+1 summit in Québec he railed about the Canadian tariffs of 270% on American dairy products. He howled that this was a devastating blow to America’s brave, patriot dairy farmers, or words to that effect. Canada was screwing America inside out, an insult not to be borne!

Oh, those awful, awful Canucks. (Truth in Advertising time for those who didn’t already know: I’m a Canuck). Two hundred and seventy percent! No wonder America’s going down the tubes! It’s probably why the US budget will have an extra trillion deficit next year!

Well, it was almost lost in the avalanche of sheer nonsense that Pissmop uttered during that strange press conference, but what makes his whines about Canadian dairy pure nonsense is this one inconvenient fact: The US actually enjoys a trade surplus with Canada in dairy. It’s about a 5-1 trade surplus, at that. Granted, the market, in both directions, is minuscule—about $600 million US—but it still means that the US exports about a half billion in dairy to Canada while Canada exports about $100 million to the US. Now, in case Trump is reading this, I’ll type it very slowly: The US does not have a trade deficit with Canada over dairy, the stuff that comes from cows, and for some reason, hens. It actually sells more than it buys. Have someone with actual business experience explain it to you, Donald.

So why is Fearless Leader pissing and moaning about Canadian cows? The best reason anyone can think of is that Canada has a regulated, efficient and effective dairy industry, whereas the American one is in such an intense state of cutthroat competition that there is a huge oversupply of milk, with the result that the “gate price”–the price distributors are willing to pay to take it off farmers’ hands—is lower than what it cost the farmers to produce the milk. And that’s with the cows doing all the work.

American dairy farmers overproduce, hoping that having more to sell means that more will be bought, and they will thus get a bigger share of the market. Anyone who has taken Econ 101 in high school knows this is utter nonsense, and someone who knows anyone who took Econ 101 in high school will probably be able to explain it to Pissmop.

Milk is milk is milk; there isn’t a great variation in quality from one farm to the next, despite what the advertising says, so the market is free to select the lowest price, knowing the quality will be about equal to the stuff selling for a few pennies more per gallon or liter. Which further drives down prices.

What will happen is what is happening: small farms are being driven, and the big dairy companies are buying their stock, overproducing yet more to destroy the remaining small farmers, and eventually they will turn on one another, and classic economics suggest we’ll eventually end up with a consortium of three-to-five big companies that will collude to artificially raise milk prices and limit supply. This is known as “the free market”, a market in which suppliers, consumers, and the product are anything but free in any sense of the word.

Not only are American farmers going broke competing with one another, but last year they cumulatively threw away forty three million gallons of milk—literally dumped into holes in the ground.

In Canada, they have this thing called “Supply management.” The Canadian Dairy Commission (and doesn’t the name just scream “Nazi socialism”?) set national quotas on supply, and coordinate with the ten provinces to ensure a stable market in which supply very nearly matches demand. (I don’t know if it applies in the Territories, despite that being nearly half of Canadian real estate—I haven’t heard much about an Inuit dairy industry, and cows are notoriously unhappy on ice).

Now here’s the thing: It works. It works extremely well. Yes, it means higher prices for consumers, but since Canadians enjoy a higher level of disposable income, nobody minds much. They look at the madness of the American industry and realize that the extra fifty cents a liter is a wise investment.

American wants a dumping ground for the surpluses created by its overheated cutthroat industry, and Canada isn’t interested in destroying its own efficient and effective industry in order to oblige suicidally competitive American dairy farmers. Nor do they want a system that encourages such patently destructive competition. They are also suspicious of lax American regulations regarding the use of hormones and antibiotics in cattle, and GMOs. The wild-west approach to basic health and safety measures in America has led to a deepening mistrust of American food products.

Pissmop has to know he’s spewing nonsense when he attacks Canada over dairy trade imbalances, since it’s obvious the existing imbalance actually works in America’s favor. (Part of the reason for that is that Canada doesn’t limit imports on cheese, and the American standards for cheese, which include permitting a certain amount of animal parts in the cheese, is much lower—as are the prices.)

Trump is taking a similar approach to trade with the rest of the world: American can’t compete because standards are low for their products, so Trump is demanding the rest of the world lower their health and safety regulations to let America compete “on a level playing field.”

The problem is the rest of the world, including Canada, perhaps America’s best friend, are looking at the US the way is is right now and muttering to themselves, “Don’t be that guy.”

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