posted by QuakerOatsretail price history:
2010
2.79
2011
3.53
2012
3.64
2013
3.53
2014
3.37
I will take where we are today.
Better than July 2008. I am sure you just neglected to go back to the Bush years.
4.11 a gallon....... Wow
Oh no Quaker. It looks like Trump's tariffs are causing problems for US Steel. I'm sure you'll say that the market is simply making itself more efficient. But that's not what Trump was touting. He stood at US Steel Granite City and bragged about how he was bringing jobs back. Now US Steel is idling blast furnaces left and right.
I'm sure this is somehow Obama's fault.
https://www.chicagobusiness.com/manufacturing/trump-tariff-twist-thats-cost-us-steel-56-billion
posted by Dr Winston O'BoogieI'm sure you'll say that the market is simply making itself more efficient.
Actually, that's exactly what the article you posted says. Didn't read it, huh?
Aposted by Dr Winston O'BoogieOh no Quaker. It looks like Trump's tariffs are causing problems for US Steel. I'm sure you'll say that the market is simply making itself more efficient. But that's not what Trump was touting. He stood at US Steel Granite City and bragged about how he was bringing jobs back. Now US Steel is idling blast furnaces left and right.
I'm sure this is somehow Obama's fault.
https://www.chicagobusiness.com/manufacturing/trump-tariff-twist-thats-cost-us-steel-56-billion
Did you actually READ the article you posted?
You obviously did not read it or you didn’t understand it.
As someone who has worked for various suppliers to the steel industry since about 2002 let me explain it.
Blast furnaces are a century old technology that takes raw iron or and coke (derivative of coal) to turn it into new steel. It’s the way to create steel from raw ingredients. This furnace uses a ton of energy from burning fuels to accomplish this (usually coke oven gas which is a mixture of hydrogen and carbon monoxide with other things).
To recycle scrap steal they use an electric arc furnace (think two huge electrodes zapping the crap out of the steal with a ton of electricity). It is more efficient to recycle steel in this manner than it is to create it from original iron ore and coal.
The article states that newer plants with these EAFs are doing great and US Steel is creating new facilities with EAFs to be more efficient and compete.
Make sense? You had a pretty big fail there with that post.
You guys are reading way too much into my post. I was being humorous with QO because of his Trump-can-do-no-wrong slant. I have spent most of my career in the mining and steel industries, so I am thoroughly familiar with integrated vs EAF production - and the shift between them that has been underway for 50 years.
The article wasn’t really about that it was about his visit to a particular plant where he took credit for bringing jobs back to that specific plant, and now that furnace is idled. Just funny since no president - repub or dem - is nearly as powerful on the economic stage as Trump thinks he is
ill be be happy to discuss the intricacies of the steel industry anytime though
DJIA 27,000 +
S&P 3,000 +
Do your dd
Take care
posted by QuakerOatsDJIA 27,000 +
I was more pleased with news inflation exceeded expectations and ticked above the target 2.0%. I would like to see a fed funds rate of at least 4.0% before the next recession (more bullets in the gun).
Longest recovery in history - Thanks, Obama! (though not for the reasons some would think) - but it's going to be a nail-biter if we make it past the 2020 elections.
Dow this high is ridiculous and to even mention Obama at this point is stupid.
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What a pair of dipshits.
Texas hunters who accidentally shot each other blamed undocumented immigrants, police reveal
When in doubt, blame the immigrants, I guess.
The title of this thread is appropriate after some of the president's words today:
"In one voice, our nation must condemn racism, bigotry, and white supremacy. These sinister ideologies must be defeated. Hate has no place in America. Hatred warps the mind, ravages the heart, and devours the soul."
Spot on, Mr. President. I'll happily give credit where it's due, and that was stated in a way that we should expect it to be stated by the POTUS. Not everything said in that speech was without problem, but that was a bright moment in it.
(I know some of it was hyperbolic, but what president hasn't included that in his well-said speeches?)
posted by QuakerOats
DJIA 27,000 +
S&P 3,000 +
Do your dd
Take care
........
posted by Devils Advocate........
I have a great idea. Let's impose tariffs on a country that gives 0 fucks about their people suffering and those people can't do anything about it. That will do it!
Yeah, it has been so much fun being economically raped for 3 decades.
So then......
The cure for rape is a good fuckin huh?
posted by like_thatI have a great idea. Let's impose tariffs on a country that gives 0 fucks about their people suffering and those people can't do anything about it. That will do it!
it has to start somewhere. At least give Trump credit where its due. He gives zero fucks about politics and does what is right.
posted by QuakerOatsYeah, it has been so much fun being economically raped for 3 decades.
a) We've not been economically raped.
b) Even if we had, free market economics has actual principles for how to combat that.
c) It's not "tariffs."
I feel like if we played Madlibs, this could be clearer.
_________ has been more financially successful than ________, so we should pass __________ to make them more even.
Richard, Stanley, taxes
China, America, tariffs
The logic is the same, either way. The kicker is that "China" doesn't suffer from the tariffs. Initially, the private companies that export from China do, but they adjust their prices, as any good business would. That, or they cheapen the product (not likely, since Chinese products are already fairly cheap) or lower the labor cost (not likely, as Chinese labor is already very low cost ... hence the competitive pricing).
So they pass the bill on to American importers.
Our private companies and business owners ultimately foot the bill.
posted by O-Trapa) We've not been economically raped.
b) Even if we had, free market economics has actual principles for how to combat that.
c) It's not "tariffs."
I feel like if we played Madlibs, this could be clearer.
_________ has been more financially successful than ________, so we should pass __________ to make them more even.
Richard, Stanley, taxes
China, America, tariffs
The logic is the same, either way. The kicker is that "China" doesn't suffer from the tariffs. Initially, the private companies that export from China do, but they adjust their prices, as any good business would. That, or they cheapen the product (not likely, since Chinese products are already fairly cheap) or lower the labor cost (not likely, as Chinese labor is already very low cost ... hence the competitive pricing).
So they pass the bill on to American importers.
Our private companies and business owners ultimately foot the bill.
Actually what has really happened is that most American companies importing from China negotiated lower prices from Chinese manufacturers to make up for the tariffs, or moved their manufacturing facilities out of China to other SE Asia countries. China is indeed bearing the brunt of the tariffs. Sorry to break your bubble.
posted by QuakerOatsActually what has really happened is that most American companies importing from China negotiated lower prices from Chinese manufacturers to make up for the tariffs, or moved their manufacturing facilities out of China to other SE Asia countries. China is indeed bearing the brunt of the tariffs. Sorry to break your bubble.
Not necessarily. Obv companies are looking for vendors now in Bangaldesh, Vietnam, etc., but it isn't a quick process. Price increases are coming, depending on if items are in the Sep or Dec tariff dates. The manufacturer is not going to eat the 10%, the wholesale stores aren't going to eat the 10%, the end result is the consumer will eat the majority of the 10%. I work closely with the Retail Apparel industry, and some companies are way weighted in China than others. So not everything is going up, but there will be increases unless Trump keeps delaying them.
posted by QuakerOatsActually what has really happened is that most American companies importing from China negotiated lower prices from Chinese manufacturers to make up for the tariffs, or moved their manufacturing facilities out of China to other SE Asia countries. China is indeed bearing the brunt of the tariffs. Sorry to break your bubble.
You think negotiating for lower prices has only started since the tariffs came into effect? Or do you just think they've somehow gotten magically better at it since the tariffs?
It's okay. You don't have to answer. I wouldn't want the inconvenience of that to get in the way of your belief that increased regulation and big-gubmint manipulation of the way private businesses operate are a good thing when the people endorsing it have a little 'R' next to their names. The hypocrisy of it is entertaining.
China mfg’s have readily dropped prices as American importers have requested. And the speed with which companies have left China to manufacture in other SE Asia countries has been surprising. The latest Chinese economic data is evidence of these facts.
For the first time in decades we are taking a different tactic against the rapists and their enablers. It appears to be working.
posted by O-TrapYou think negotiating for lower prices has only started since the tariffs came into effect? Or do you just think they've somehow gotten magically better at it since the tariffs?
It's okay. You don't have to answer. I wouldn't want the inconvenience of that to get in the way of your belief that increased regulation and big-gubmint manipulation of the way private businesses operate are a good thing when the people endorsing it have a little 'R' next to their names. The hypocrisy of it is entertaining.
For decades our government sold out American manufacturing with asinine trade agreements. At the same time, the same government made it ten times more costly to compete against our newfound trade enemies by imposing massive regulations upon industry, manufacturing in particular. So government hands our market to foreigners at the same time it handcuffs (destroys) our ability to compete. And now, because Trump is rolling back many of those onerous regulations and charging foreigners for access to our market, you liken it to “increased big gubmint manipulation”. That is laughable; talk about hypocrisy.
posted by QuakerOatsFor decades our government sold out American manufacturing with asinine trade agreements. At the same time, the same government made it ten times more costly to compete against our newfound trade enemies by imposing massive regulations upon industry, manufacturing in particular. So government hands our market to foreigners at the same time it handcuffs (destroys) our ability to compete. And now, because Trump is rolling back many of those onerous regulations and charging foreigners for access to our market, you liken it to “increased big gubmint manipulation”. That is laughable; talk about hypocrisy.
Who's attributing rollbacks to increased regulation and manipulation? Not I, if you go back and read, so I'm not sure who you're talking about.
Did I liken tariffs to it? Of course, I did. That's what it is. Anytime two private entities wish to engage in an exchange, and government comes in and either regulates the exchange or legislates itself into getting a cut of the deal, that is increased big government manipulation.
Look, I get that you'll toe the line on practically everything he does. He really could shoot someone in the middle of the street, and you'd find a way to defend it. But let's stop pretending that the tariffs are anything but opposed to free market economics. This is 101 stuff, here.
EDIT: I do have to give you credit for the proper use of a semicolon. You don't see that enough, these days.
When the tariffs were imposed, Trump and those who follow him unconditionally claimed that they would fix the domestic steel industry. Now more and more, articles like this one seem to show that tariffs are not a magic pill. As was stated earlier on this thread, some of these layoffs and price reductions could be attributable to consolidation of the industry toward a more mini-mill centric model. But that fact does not account for the huge drops in prices.
LOL....Trump cancels visit because Denmark laughed at his offer to buy Greenland.