r/EconomyCharts:

u/xander707

2.1% is less impactful than 0.09%? Go back to school.
u/xander707

Exactly, opinions dont matter, but you cant even get the numbers right, and keep pretending that this all happens in a vacuum. If you think explaining how these price increases has a larger/broader impact on the economy is excuses, youre never going to learn and youre going to keep spreading bad numbers and bad information.
u/xander707

What even is this math? Its wrong, is all I can say. If new home construction depends on roughly 7% of foreign materials, at 30% tariffs you would see an overall increase of 2.1% to construct a new home. It doesnt seem like a lot but it will happen more or less overnight once old inventory is sold/used, and will be exacerbated by naturally occurring inflation and by builders adjusting their margins accordingly, meaning consumers will pay slightly more than the 2.1% increase in the final price of the homes. This leads to A: overall comp prices of homes, including older homes already built, to go up in price, NOT just the 1% of new builds. And B: fewer homes being built, meaning fewer rental homes, meaning increases in rental prices. And this is just ONE facet of the impact of broad tariffs increases. Rent will go up, general goods will go up, pretty much all expenses will increase as a result. I cant say exactly how much inflation we will experience, but what I can do is point out inaccurate figures. This will impact more than 30% of the economy, it will be in addition to normal inflation. I would be shocked if we see 5% or less overall inflation yoy from today to this time next year. 7-8% seems reasonable, but only time will tell. Inflation has been creeping up even before tariffs were implemented so 3% seems incredibly unlikely unless the tariffs somehow coincide with an otherwise deflationary period independent the tariffs.
u/xander707

Saying that rent doesnt depend on imports isnt a simplification, its just plain incorrect. You arent simplifying anything, you are pulling from your ass. Btw, the current blanket tariff on Chinese goods is (as of this writing) 30%. 10% is the minimum tariff rate for all countries, but the overall average tariff impacting US consumers will be a significantly higher percentage, and again, it will also impact significantly more than 30% of the economy. The things you are saying and your numbers are just wrong, leading you to an incorrectly informed optimistic view of the future.
u/xander707

Which he completely and grossly mismanaged and downplayed, resulting in a higher death rate and worse economic downturn. He doesnt deserve a pass.
u/xander707

This is why I specified recorded, but I can see why what I said would still come across as hyperbolic. We werent recording annual job losses/gains during the Great Depression. But of all recorded presidential term job losses, Trumps is indeed the worst. By a large margin.
u/xander707

Reminder that under Trump, we lost 2.7 million net jobs, and went into a recession. It was actually the worst recorded economic record of a single presidential term of all time. Very excited for part 2.
u/xander707

The real problem is the fact healthcare is a for-profit business and not an essential right. Insurers are financially motivated to deny claims or limit care, for profit. Your healthcare gets in the way of their ability to make obscene amounts of money. Thousands of people literally die every year because of the profit motivation of the healthcare industry, and many more go into major financial debt.
u/xander707

We are talking about how he handled the pandemic, since that is directly relevant. Again I will reiterate; presidents are expected to manage crises that happens through no fault of their own. That does not absolve them of the responsibility to take those crises seriously and do their absolute best to mitigate them. The fact you refuse to agree with this very simple and obvious premise reveals your intellectual dishonesty. Try being honest yourself; did Trump handle the pandemic the way we should expect the president to? Yes or no?
u/xander707

The net total, between total job gains and job losses combined, was negative 2.7 million jobs.