Rolling US Economy Into The Shitbin Thread

I didn't realize the bitcoin crash would have such far-reaching ramifications.

Paul Tudor Jones: Jay Powell is like General Custer ahead of the Battle of Little Bighorn, surrounded by Foreign Currency Fighters, the Stocks, the army of Corporate Credit, the Crypto Tribe and the Inflation Nation. pic.twitter.com/1ugphj7eeD

— Robin Wigglesworth (@RobinWigg) March 1, 2018

and then to top it off...

NEWS from pool spray: TRUMP SAYS U.S. WILL SET TARIFFS OF 25 PCT FOR STEEL AND 10 PERCENT FOR ALUMINUM

— Kayla Tausche (@kaylatausche) March 1, 2018

??

President Trump decided against announcing tariffs on steel and aluminum imports on Thursday after 18 hours of frenetic pushback from inside the White House and on Capitol Hill, two people briefed on the decision said.

https://www.washingtonpost.com/news/business/wp/2018/02/28/white-house-planning-major-announcement-thursday-on-steel-and-aluminum-imports/?utm_term=.e194517a18ae

well, yeah

To recap:
- No tariff announcement on schedule issued at 9 PM
- Trump says he wants to announce tariff today, sending officials on mad scramble
- Senior officials say the policy isn't ready, there'll be no announcement today, just a "listening session"
- Trump announces tariff

— Daniel Dale (@ddale8) March 1, 2018

ah OK that explains the cluster of tweets from the last ten minutes, thanks

MillerCoors statement: We are disappointed with President Trump’s announcement of a 10% tariff on aluminum. While we won’t know the details for a week, the Department of Defense recently reported that aluminum does not cause any national security issues. (1/3)

— MillerCoors (@MillerCoors) March 1, 2018

while this might make trump seem like an enemy of the common man, a shrewd observer pointed this out

Donald doesn't drink Beer. Need a strong statement from @CocaColaCo to really drive home the costs he will pay with every Diet Coke he drinks.

— Rich McGilvray (@Misterchief) March 1, 2018

Alooooo min um

Lol u ppl talk funny

"But we're still cool to sell our alu minnn yum, yeah?"

"Absolutely. Big league."

we need to run the government like a business. tax cuts!

man, between Delta and Coca-Cola it has not been a good month for Georgia business

well s/month/week

Can someone explain to me why US Steel stock is down 4.5% on news of a foreign steel tariff? Do they import/process foreign steel themselves?

It seems to be a case of “buy the rumor sell the news”. Steel stocks were already up big on anticipation of this announcement, so now it’s probably profit taking.

most ominous first post ever?

here we go guys

― El Tomboto, Thursday, October 18, 2007

"Can someone explain to me why US Steel stock is down 4.5% on news of a foreign steel tariff? Do they import/process foreign steel themselves?"

"The United States is the world's largest steel importer. In year-to-date. 2017 (through September), further referred to at YTD 2017, the U.S. imported 26.9 million metric tons of steel, an increase from 22.5 million metric tons in YTD 2016."

mostly from china iirc?

we get most of our steel from three key allies -- canada, south korea, and brazil

https://www.trade.gov/steel/countries/pdfs/imports-us.pdf

can't imagine why president trumputin would want to mess with them

they've treated us very unfairly, very unfairly

weird, so the US doesn't import steel from China?

i think i may have been misremembering a factoid that they are the largest purchaser of our iron ore exports

I heard this morning that China is in 11th place for steel imports.

they make steel at home but import huge amounts of the materials iirc

*RAW materials

do the tariffs impact the raw materials as well or just finished steel?

Isn't the story that China exports to middlemen to get to US? Chinese steel overproduction is a real problem but lol at Trump solving it...

WWE Raw materials

most ominous first post ever?

here we go guys

― El Tomboto, Thursday, October 18, 2007

― scott seward, Friday, March 2, 2018 4:13 PM (yesterday) Bookmark Flag Post Permalink

This thread is why I was stockpiling bulk foods 10 years ago

Dried potato flakes are nearly nutritionally complete (just add a few greens), and last 30 years.

■ 313,000 jobs were added last month, the most since October 2015 and the 89th straight month of gains, a record. Economists had anticipated a gain of about 200,000.

cool, lets add 1.5 trillion of stimulus to that

Fix the US economy by building trains everywhere is my core political belief

We can sell Train Victory Bonds

TRUMP TRAINS BABY *choo choo*

I’m not too proud to ride a trump train, that’s how much trains matter to me

what if they have trump's grinning face on the front, like thomas the tank engine

q: can dogs urinate on it?

hi

The so-called FAANG stocks - Facebook, Amazon.com, Apple, Netflix and Google-parent Alphabet - were hit among the hardest Monday.

!?

anyway, I'm pro-tanking-tech-stocks

FAANG were hit softly in the presence of those hit hardest

also, when did everybody start using "so-called" in sentences that don't imply that the thing shouldn't actually be called what follows

well, since forever, as "so-called" doesn't necessarily imply that

but it does to me. and I've found others like me. you are supposed to say things like "this so-called 'general'" right before ripping the stars and bars off of the general's uniform.

I am talking about the cartoon general that sells insurance in the US btw

At least back in 2010, probably much further.

The so-called PIIGS countries - Portugal, Ireland, Italy, Greece and Spain

love to sink my FAANGs into some PIIGS

Strictly speaking, I am wrong and you are right. It just doesn't play that way to everyone. If it can have both meanings, I'd suggest not using "so-called" if one isn't trying to poke holes in the term one is about to repeat. Nobody will mistakenly believe that they are reading the first ever use of some term or acronym. Point it out when you invent a term, by all means. But leave out "so-called" otherwise, and we'll all save time in sum.

In the two examples itt, "so-called" does absolutely nothing if not also implying "this acronym is stupid"

The acronyms do convey sentiment within finance. PIIGS were awful bond risks, FAANG have been deadly to other businesses in their categories.