Is that wishful thinking? I'm thinking/ hoping that with Trump's threatening new Tariff System, we can expect drop in prices of certain goods from home?
Examples are Lobster, Wagyu Beef, Angus Beef, Lamb on the Rack, Ugg Boots, whisky? These have been out of reach for me but maybe I can look forward to a good feasting shopping? >_<
Your thoughts please.
@V2L: I really wonder is because they grow up on it / no choice or once they had Italian style / Australian they'll never go back
@Poor Ass: I have American friends I work with here who bring back bags of starbucks coffee every time they go back to the states. That bitter burnt taste they are accustomed to is what they have grown to like.
Maybe you should change your AI.
This Topic has been interesting that there is too much opinion, but too little substance.
In your case, your opinion might be valid, but once you start with Orange Man Bad, why would anyone on either side of politics read any further.
Short term pain for long term depression
It’s good for America.
I’m now convicted with all of your well established reasoning. Must be a dream being campaign manager for Trump - just say anything, people will believe you.
I imagine you also believe in cheap quick nuclear power
It’s good for America.
Short term pain for long term gain
Is this the same message you had when there was some difficult economic times during the Biden era?
It will tank the US economy and we will all have the benefit of sitting here posting their cries to the r/LeopardsAteMyFace subreddit for the "lulz".
We'll have no choice but to shuffle under Chinese global hegemony. At least China learned their lesson and won't tolerate a madman in charge anymore.
Wait. What happened to Xi Xinping?
Xi suffered first hand under Mao and China itself is unlikely to let any leader repeat the same mistakes. Today’s China has a far more competent and technocratic bureaucracy than during Mao’s time. And Mao’s China was largely isolated. Xi’s China is deeply embedded in global trade, supply chains, finance, and diplomacy. Total information control isn't possible anymore, despite China's best efforts at censorship. Xi Jinping is authoritarian and highly controlling, but he governs with a strategic sense of risk. Mao pursued utopian visions with no regard for consequences. Xi, in contrast, emphasizes stability, control, and national rejuvenation, not radical transformation.
This is another trompet's proxy post i.e. in lamb skin.
I wouldn't be touching shares for a while, too unpredictable at the moment, driven by Trump.
This is unlike COVID, buying the dip, may just be the first dip.
History doesn't dictate the future, well at least for the next 4 years, and thats assuming he doesn't get a 3rd term.
Fixed interest may be the best shot for a while
If you are buying shares with a four year horizon then you probably should be putting your money elsewhere.
Not sure what exactly that means
You have day traders, and those in for the medium & long term.
I buy & sell based on the market conditions and it has served me pretty well to date
Before COVID hit I saw the signs of something coming and got out cleanly, and cleaned up during
This one I got out early, so am thinking to buy the dip, but very hard to predict the next move of a madman, thus my comments above
They are talking the logic of finance bros
Market overvalued? Keep holding, the market always goes up in the long term.
Market conditions poor, potential decline? Keep holding, the market always goes up in the long term.
Basically information doesn't matter when you are a 'long term investor', you just keep buying and ignore everything
@[Deactivated]: I wouldn't say it never matters. At some point you're going to die and be unable to benefit from gains from staying in the market.
The problem with believing you understand second order chaotic systems is that you mistake luck for skill.
The entire point of going for a long strategy is that you don't have to predict anything. You just wait for time to shave off the peaks and troughs. The downside of that is that it shaves off all outliers, so you don't get massive windfalls either. It's boring investing that works.
Before COVID hit I saw the signs of something coming
Sure bro
@Autonomic: What would you do if you heard the following via your work contacts & via your personal contacts in late Jan 2020?
One of Australian's largest retailers advising they were having supplier issues out of China due to a health issue
Taiwan advising the spread of a virus in China weeks in advance of COVID hitting the markets
I never predicted the market to fall as far as it did, but I did withdrawal my funds expecting a drop of 5%
We can all do our best to buy Aussie made. The government could also do better to regulate 'Australian made' products. Take for example Sunflower seeds, I sometimes see 'Made in Australia with at least 90% imported ingredients'. turns out only the salt is from Australia… I then looked at the other products and NONE were from Australia.
Unfortunately we have somewhat shot ourselves in the foot and our pollies have slowly killed off the Manufacturing industry. Our minimum wage is what $23? $24/hr?. that combined with overtime may deem the local production infeasible. We can also try to implement Robotics and AI in manufacturing but you'll get advocates screaming "they tok er jebsss". And then there's the competitive cost price on imported goods. Some people just don't care and go for cheapest. There's no winning.
One thing I have noticed with labour government is that it is encouraging more local production. How this will happen, I am yet to see. I work in the field of systems integration and engineering and let me say, we don't produce electronic components or technology locally. Always from France, Korea, US, Spain, China or other parts of the world. The other problem we have is that we don't necessarily engineer our own products. We tend to take from other countries, integrate test etc. and implement it here.
Lowering our minimum wage so we can manufacture cheap goods seems like a self-own.
Exactly. I think there should be a balance. It seems we are just in the top 10 of 'Countries by average wage'
Of course there's many variables and factors that contribute to this like outliers or ultra-high achievers so using 'median' is a more accurate figure.
I think we are up there with median income. The only problem is, we spend the vast majority of it on housing which leaves us with less disposable income.
Seeing American faces when they are gang pressed to making T Shirts and Sneakers now they can't get it cheap from Bangladesh and Vietnam.
yes the idea that putting a tariff on sneakers and tshirts from vietnam will make companies shift their factories to US is as ridiculous as it is laughable. i would love to see the average american's faces though when their favourite air jordan is twice the price as it is now
opportunity for the cashed up to gobble up shares on discount…. wealth transfer to the rich, nothing new here.
tariffs are another good excuse to jack up prices, no chance they come down if the tariffs are eventually removed though
I was looking for lobster wagyu ugg boots, didn't quite expect this 😆
why doesn't bunnings do something constructive like pulling all USA products from their shelves?
I doubt there would be many to pull?
😂😂😂
Would it be more constructive to pull products made in China?
The country isn't spending billions to prepare for a war with USA.
There would be nothing left to sell.
Even if there is a glut on the market the farmers will be screwed but the big supermarkets will keep as much as possible. However, deals can be done if the leaders of countries stop posturing and fix ridiculous tarrifs (a number already have). We screwed our counrywhemany tarrifs were removed which destroyed manufacturing and many farms (pinapple, citrus ets).
However, deals can be done if the leaders of countries stop posturing and fix ridiculous tarrifs (a number already have).
They didn’t even look at other countries tariffs to establish the new ones last week. What should Australia do? Hand over some minerals or gut PBS?
@wagonweel are you for real? The countries who have "fixed" their "ridiculous" tariffs simply got blackmailed into committing to buying American products that they dont want or need in order to protect its own industries that cant pivot in time to find new markets. And guess what, by doing so, they've welcomed imports from the USA that will now destroy local industries that cant deal with the influx of new supplies.
I got a theory the more information we have available in the information age it seems like people just entertain themselves by going down conspiracy rabbit holes rather than learn something new.
I've seen business owners who sit at the counter scrolling on social media rather than learning anything about building their own business. Crazy times.
interest rates will come down more with the impending recession
I’m trying to avoid anything made in the USA.
The one USA thing we buy is Spam and Jack Daniels ! 😞
Breakfast of champions
I switched to Sausages and Beenleigh (with Q Cola). :)
The impact could be minimal to Australia with exports such as beef.
The United States exports beef to China, Mexico, Japan and South Korea mostly and imports a lesser amount of beef from Brazil and Australia. If China, Mexico, Japan and South Korea retaliates with higher tariffs of their own Australia can increase its exports to those countries distance wise it actually makes more sense less transport cost and if you worried about pollution less emissions getting there.
I doubt these other countries were buying US beef, it isn't the premium product that Australian beef is.
So the only way for Australian exporters to increase exports into other markets is to lower prices, make their product cheaper vs. the local product on the shelves.
With the falling AUD that may be happening partially, but that won't be enough. Australian exporters will lose either way
Now you'll only see the US' decline.. Passing the tariffs onto your own people is one of those classic signs of losing the competitive advantage in almost all the industries and calling on the recession.
Listening to dummies on OzB believing Trump's tariffs have anything to do with 'reciprocal' tariffs is actually hilarious.
Room temperature IQ is obvious
how else do you think he got elected lol
The funniest thing was watching Trump explaining the board line by line referencing the trade deficit numbers as tariffs charged by other countries without blinking… i mean the guy was really getting into it - and i think he genuinely believed what he was saying.
It's what they would have told him, Trump goes on about Sleepy Joe but I highly doubt he really understands the impacts & implications of many of the things he signs. I mean 2 weeks ago he claimed he didn't sign an executive order. Sleepy Joe indeed….
The best thing is the world realizing the USA is not the masters of the world and that EVERY country should be acting in its own interests rather than the interests of some ally that swings its weight around when it suits them. I have no idea why Australia is not best friends with NZ, Indonesia, SG, and Malaysia when they are actually our real neighbours rather than the USA who only uses Australia when it suits them. Oh and the anti dumping folks will be watching imports like a hawk so its unlikely we will get much immediate benefit on changes to export and import patterns around the globe
We're not best friends with New Zealand? Where have you been for the past 100+ years?
And yet Aus has US military bases on its sovereignty but not NZ…
Australia and US share the same root, aren't they?
futuremadeinaustralia.gov.au
Buying Aussie shit is the best thing we can do, or Canadian/Japan/Europe if Aussie stuff not up to scratch yet.
Ozb fav EVs gonna get real cheap as China looks to dump loads of them.
Dun count on it. China doesn’t sell their EVs to US anyway due to US trade protectionism and 100% tariffs on Chinese EVs started by Biden
Longer term I would hope the rest of the world find a way to not be so USA centric. We could all benefit from that.
I hope that while trying to Make America Great Again (when was that, exactly?), Trump crashes the US economy by moving everyone away from the US dollar. For the past 80 years the USA has had an extraordinary privilege: they can make a dollar virtually for free, while the rest of the world has to sell them $1 of real goods or services to get it.
Make America expensive again
people need to understand that the [rice of wagyu, lobster etc will lower in price initially, but that's only a short term impact…..As the market gets smaller, what's more likely is that the producers are going to lower the amount their producing, don't think their going to sell it at a loss locally for long.
What is most hilarious is that Donald and his team think that companies can just up their operations and relocate to the US.
It could take years to do this. And why would they, if a new administration (even a conservative one) will like remove or massively reduce the tarrifs.
The companies could just fold, or reduce operations and wait it out. Meanwhile the Red voters are going to call him out for prices going up.
There are rumours of the Brits forming their own trading block with EU, and other commonwealth nations. China is in talks with South Korea and JAPAN (crazy).
This is the most monumental miscalculation from the duck. I think no one thought he would actually do it… bahahah
I just want to see how much longer his support base (broke MAGA crowd) can brainwash themselves into thinking he is doing them a favour
forever.- in their minds it's not "him" that keeps their situation worsening, it's those evil fat cat billionaires who he is supposedly fighting against, and let me tell you something it's a great thing , it's great, it's possibly the greatest thing ever, that's what the people are saying, but it's the greatest thing that he's going to keep on message and keep on telling them that even as they ignore that he's the billionaire known for not paying small businesses.
And his right hand man, the richest main in the world, is also a friend to the working class man in the American factory… just y'know, not _his_factories, where they're proud to be in other countries, and boasting about their massive use of automation. Maybe he's a friend to the robot worker?
I'm forever amazed at just how hard people in bad spots will push against their own interests.
The MAGA's will just brainwash themselves into believing that all this chaos is part of Trump's long term game. Trump, Vance or whoever will convince them that the plan can't be completed in one term and so they'll try to stage another insurrection to get him another term at the next election.
There's the issue of the US national debt being greater than it's GDP, something not seen since WWII. Trump said he's going to do something about this, and he actually is trying. Whether or not it's going to work out long term will be seen, but the path the economy was on (despite investors cheering) was completely unsustainable.
We should have told them to forget AUKUS submarines and give our half billion dollars back when they gave us 10% tariffs. Apparently there wasn't enough lube though so we just got dry fked by them again.
He often says he doesnt care about the deficit and they shouldn't repay their debt. He also advocates fervently for lowering taxes - not exactly someone that cares about a fiscal deficit
Yeah no one wants to pay back their debt… xD
Lowered taxes are possible with increased government efficiency. But as Australians we wouldn't know anything about that.
idiocies of foreign policy, and setting world trade back by 80 years aside, it's also the biggest tax hike and wealth transfer in history of US of A. the tariffs are poor consumers basically funding govt coffers which are then used to give big corporations tax breaks. and the redneck MAGAs living paycheck to paycheck are cheering them on brainwashed into thinking the chinese are paying for it while paying 200% on household items
It's going to hit the reset button on global manufacturing and trade too. Markets are elastic in more ways than one.
looks like Trump wants to take us back to the post war era when US reigned supreme and when it was cool to beat your wife
@V2L: I dunno anything about wife beating coolness, pretty sure that isn't part of the agenda… but he definitely wants the US to reign supreme again. That is pretty much the objective for sure. It's a global financial coup.
@illogicalerror: oh its part of the agenda..purging DEIs immigrants and abortion rights is part of the ideological shift, but thankfully not relevant to us, the americans voted him in, they can deal with it.
we can all see what he's trying to do, but he just doesn't have the capacity to approach it with finesse so he's hitting it with a sledgehammer to try to bully his way through without caring about the fallout since it's the only thing he's ever known.
unfortunately he will take the rest of the world down with the US, buckle in for rough waters ahead.
@V2L: Hmmm, not sure I agree with DEI, immigration or abortion policies having anything to do with wife beating either. But hey ho.
What will be most interesting is if US/China trade basically halts because of the tariffs. This could even lead to actual real war… except as the US is basically expelling allies because it wants to be richer it will make things less cut and dry than it may have appeared a few years ago. Hard to tell who our friends actually are. As rough as the waters are going to be it'll be super interesting.
Something else we can take into account is that something was going to break the ridiculous greedfest and speculation happening in the markets, it was never sustainable. At least this way we've got a villain who can own all the blame for everything and more. It's pretty neat really.
usa will pressure countries to make good deal else will increase tariff on those who fight back. Realistically probably only China can hit back but again this will cause more market disruption and not without taking some hit themselves. eu moved from retaliatory tariff to 0 for 0, and asking for negotiation already, that is the pressure usa is putting.
US is not our main trade parter. China is. So, price drop on some products for sure but increasing inflation overall. It's scary to let a country control everyone's economy.
The true bargain comes when US enters recession. We'll have cheap/clearance stuff from US via Amazon.
Then, US will do the best so survive. Elon knew this well.
Nothing good will come from USA tariffs
Cheaper fuel for us, lower interest rates for us, better trade purchasing prices for us… Sure there are a host of negatives too, I'm just pointing out some of the positives.
Looking good right now. The media trying so hard to push the negatives, but the positives will slowly come to light
What will be the positives?
@Danstar: Hence the question to you, hoping you can answer.
but the positives will slowly come to light
What will be the positives?
@Baysew: Honestly, I don't want to reply to this as you already have your biased opinion and views so hard engrained it will just enrage you more so and just want to continue to go tit for tat.
nothing
M.A.G.A
Morons
Are
Governing
America
Eat the rich
MAGA
Musk
And
Grandpa’s
Armageddon
Going all in on the multipolar world and BRICS now. I reckon it would take years if not decades but Trump basically accelerated the decline of the US empire and their hegemony with his antics. Hopefully they won’t take Aus down with them.
Nah, we'll be absorbed and become a Chinese puppet state.
Celebrate the positive change in food culture and the fact we can tell all the Yank war mongers to FO back home. RE prices will drop.
in a short run.. if you have mortgage, interest will be falling. in the long run, almost everyone on the planet will suffer. it's the end of 30 years WTO free market prosperity, going back to the cold war era with countries forming smaller groups fighting with each other on the financial front. Then if China's dictator Xi continuously losing its economy, he will launch his promised attack on Taiwan as his last resort to maintain the face being the national leader. Then War between the 2 most powerful countries breaks out… this is a history repeating the 1930 Hoover Tarrif contributed to the cause of WW2.
if the world is divided, why would any form smaller groups with the US when its people will surfer for high prices? it takes decades to build manufacturing capability.
Trump has said anything is negotiable with the tariffs meaning if you give him some untraceable cash under the table your tariff rate will drop. Only reason he stole classified documents was to sell them. His entire being is to make money for himself.
I am waiting for the prices of all electronic goods to come down while U.S. consumers suffer. Kogan also seems to agree with my sentiment.
https://www.smartcompany.com.au/retail/ruslan-kogan-australi…
I am loving Uncle Donald's 124% culminative tariff on Chinese goods.
Enjoy while you can. See if it's 200% tomorrow and brings another inflation shock wave to Australia.
@Poor Ass: Most of the large cities once you know your way around usually have a little european cafe or coffee shop that serves proper coffee. We always found it amusing in Seattle, the only decent coffee place was a hole in the wall coffee shop near the convention centre and it always had a long queue and you would mostly hear Australian and European accents in the queue.