Charging $500 per ticket and $5,000 a photo almost guarantees that Donald Trump and Kristi Noem won’t be listening to any real, working South Dakota farmers this afternoon in Sioux Falls. That’s too bad: it’s easy to think the economy is working wonderfully when you’re surrounded by rich people, but a chat with South Dakota farmers would help explain the damage Trump and Noem are doing to rural America.
I don’t know if SDSU economics professor Joseph Santos makes enough to attend this afternoon’s Kristi-Don photo op, but Trump and Noem could certainly use his pro-farmer, free-market perspective:
Santos expects prices for commodities such as soybeans to fall dramatically with tariffs. He says free trade means transactions, more economic activity, innovation, and competition. And while the administration’s long-term aggressive approach to even out the trade balance makes sense, right now it’s just a tax causing less trade.
“You know, we’re imposing these tariffs everywhere in very blunt ways, disrupting markets all over the world simultaneously, and that’s a tough, multi-layer chess game to keep track of,” he states [Todd Epp, “Trump Visits South Dakota as Trade War Continues,” KELO Radio, 2018.09.06].
But please don’t trouble Trump and Noem with such policy details. They have campaign finance law to skirt, PAC money to raise, and pictures with rich friends to take behind closed doors.
Drumpf is fixing to start a trade war with Japan because these are so easy to win. He said we were good friends but won’t be after he tells them how much they have to pay.
Found reference to this at Sheila Kennedy’s excellent blog-
https://www.enr.com/articles/45050-equipment-makers-prepare-for-tariff-fight
Trump tackles trade issues as stupidly as he does most things in his life. Instead of targeting specific areas of trade dispute with specific countries in a measured strategic way, he takes on the world all at the same time and disrupts global trade. The funny thing is if he had simply sat back and rode the Obama economy to new heights, he could have had a strong academy to campaign on in 2020 (barring impeachment). As it stands now, his global trade war has a good chance of spoiling the steady economic growth that the country has been enjoying and imperiling his already questionable chances for reelection.
For those of us in export dependent industries like agriculture, Trump has recklessly “bet the farm” on our behalf. We’ll see if he leaves us holding the bag like one of the banks that backed his “bad bet casinos” in the past. I feel like Trump has gone “all in” using my farm and every other American producers’ farm as his collateral in a game of global poker for which he is ill-equipped to play.
Darin how would you know unless you had read the past trade agreements and then read the new one? The United States is the biggest market in the world. As far as the approach of one at a time? No, that would be silly and would not allow him to play one group off of another. That is the brilliance of these trade negotiations. It gives our Nation leverage of one group against the other fighting between themselves on who will get the better deal with our Nation.
As far as riding the Obama horse and success you do realize we were operating under a “false” market correct? It was called “Quantitative easing”. That is where our Fed was sell bonds (loan instruments) to the Fed and provide the Fed Reserve banks the money we loaned to us to buy and lend to consumers in the form of loans that were guaranteed by the people who loaned the money to the same people who borrowed the money to loan it to you. Confusing huh? It is also a Ponzi scheme and would have failed and failed hard had our manufacturing not started to come back. Even our large corporations were keeping their reserves overseas thinking if the quantitative easing continued it would fail. Had this ship not been turned around you would be eating out of a bean can next to the railroad on your way to who knows where.
Drumpf renegotiated the Korean trade deal when he wanted to scrap the whole thing and start over.
Former adviser took a letter off Drumpf’s desk about shutting down the Korean deal so Drumpf wouldn’t sign it. This had National security interests all over it but Drumpf didn’t/doesn’t understand.
https://www.scmp.com/news/world/united-states-canada/article/2162786/aides-appalled-donald-trump-questions-us-security
So, when did the corporations repatriate their reserves back to the United States mainland for the taxes that are now due and owing? Missed that, when did that happen?
OS, I didn’t say “one at a time” as if we should only deal with one country at a time on trade. I said “specific countries” (note that is plural) with specific issues in a “measured strategic way.” Trump has brought a shotgun to a rifle range.
I understand quantitative easing and I understand the can of beans we would have been eating out of would have been in 2009 if Obama and the Fed and Congress hadn’t acted. You are off the rails as usual.
Do you understand that Trump and the Republican led Congress are running up huge deficits during a time of economic growth? Trump has decided that the beans will be eaten by our children and grandchildren. He wants to eat cake while he is alive.
You won’t hear any talk like tariffs tonight coming from Noem or her nasty man, Trump. You can guarantee that.
Darin, Trump is not the one negotiating the trade agreements. He does have the final say and has a hell of a team working these issues. I am sure if you did your homework and discovered who Trump selected to handle these issues you would have a better respect for the experts involved. These guys are not playing games and that is why they have been so successful already. Remember when Canada said they would not renegotiate at all? So did Mexico, South Korea, the EU, China, Brazil and on and on but who do you think is making visits to “our” capital? When the vast amount of all those other countries international trade is flowing through and into our nation in such an unbalanced way is sure puts us in a powerful position. Have you ever listened to Wilbur Ross or Lighthizer, Gerrish, Vaughn and DiMicco. These guys are playing hardball and it shows. The world’s economic success depends upon trade with the US and they understand that. Prior to this, whether it was dems or repukes, we have had political appointees guided by “government employees” (who had never even managed their own offices much less a business) doing this work for our Nation. Dude you would nto have agreed to some of the rtade agreements those fools had put in place. . . No, this is a professional team of people with a proven track record of success leading us this time. You can go ahead and hate on Trump all day long but he made some good choices in this bunch. Look them up and read about what they have done in the past. I think you will be impressed.
OS … Please, proof read your posts before posting. It’s difficult to understand your vast wisdom when a reader has to imagine what you meant because of forgotten, misspelled and wrongly used words. I often want to take your side but your side isn’t always explained properly and succinctly.
Thanks,
PL
South Dakota farmers and ranchers love tax cut 1.0 and will love tax cut 2.0 even more.
OS, I do feel better that some of Trump’s advisers are looking out for the country and undermining Trump’s more idiotic impulses. The problem is Trump now wants Jeff Sessions to try to prosecute those advisers and subvert the freedom of the press and free speech all in one fell swoop. Constitution? Trump don’t need no constitution!
Jason, If you’re a farmer and not making any money because of Trump’s trade wars, it doesn’t matter if your tax rates are lower. You get that right?
What South Dakota ranchers and farmers will not so really love is having no product to tax deduct from.
Darin, you get that they contracted at higher prices before the war right? You get that demand hasn’t changed right? You get that the US will be selling to other Countries instead of China right? You get that record yields is a factor in the current price right?
For Jerry, https://www.bna.com/early-numbers-show-n57982093122/
Jason, do you have any idea what percentage of crops were contracted before Trump’s trade wars ensued? I’m sure you don’t or you wouldn’t make the blanket statement about farmers having already contracted their crop ahead of time. What percentage of cow-calf producers have contracted their calves before Trump’s war started? What percentage of dairy producers have contracted ahead? I could go on, but you should get the idea that only a relatively small portion of all agricultural production is contracted ahead of actual production and it varies significantly by product. There will be a fortunate percentage of producers who have contracted ahead, but the vast majority of total agricultural production in SD is not covered by a contract or a hedge that would insulate producers from Trump’s trade wars.
The other thing to keep in mind is that the effects of Trump’s trade wars take time to manifest themselves. The day of reckoning will come nonetheless.
Your statement (I almost said argument but you provide no facts to back any of your claims) that demand hasn’t changed is ludicrous if you understood anything about economics and market distortions. Of course demand has changed, the only question is how much. The Chinese are substituting everything they can to avoid the need to purchase US soybeans right now. Unless you believe that the world was at full production, you should realize that our agricultural competitors are gearing up to take our markets. Does that mean that our competitors will displace us completely right away? For some markets and goods that is possible, but for other products that will happen over time. But make no mistake, they don’t call agricultural products “commodities” for nothing. We are losing markets and market share right now.
It’s interesting that I would have to explain that trade wars are a bad thing to a Republican.
Nicely summarized, Darin. I brokered and traded grain and livestock for many years at the CBOT and the Merc, simultaneously with my cattle-feeding operations in SD. As a lifelong (until last year when I quit the GOP and registered as an Independent) Republican who understood the value of trade to our ag sector, I’m still plenty aghast at what’s going on with the GOP and its enthusiastic support of Trump’s trade wars. Republicans have lost their marbles.
Thanks, John, and thank you for writing and speaking out on this issue. I think some Republicans will go along with Trump (or at least remain relatively silent) for reasons of political expediency until things really start to go south. But we shouldn’t wait until the farm sales start to speak out about Trump’s wrongheaded approach to trade. I also give Governor Daugaard credit for taking the opportunity to speak out about this issue while the president is here. I’d certainly like to see our congressional representatives do more.
Jason, Farm-Aid isn’t as bullish on taxcuts for farmers as you lead folks to believe.
https://www.farmaid.org/issues/farm-policy/one-year-trump-administration-farm-policy/
Seems like most of the farm taxcuts/benefits go to the top farmers. Sound like any other taxcuts for the koch bros you ever heard of?
Thanks mfi, great link that shows what they “owe” but now what is collected. The problems with owing is that there are always ways to degrade that with the right number cruncher. I doubt that the IRS will collect much if any from these guys as they are putting in right back into buying up their own stock to inflate the balloon even further.
Comrade old soviet, who said “Wilbur Ross ” “is no longer a killer.” and ” “past his prime””, who dat say dat? Why it was your boy, Comrade trump who said that about Wilbur Ross. Regarding the other 3, the head dude is a lawyer, some trader. The other two are just weak in the poop. The only Vaughn I liked was Vince in “Old School” These guys are not trade guru’s, they are probably a little better than you, but not much. They are out of their league, and on we plod.
So there ya go. I predict that NAFTA will remain the same (farmers in South Dakota will be able to have some relief with that) and that it will be modernized on the same chassis. Mexico will get the wage increases and Canada will keep its milk subsidy.
I can understand how some farmers feel Trump is doing this to improve trade for the farmer. The 12 million dollars welfare to farmers is a drop in the bucket. The amount will not cover all their expenses. Economists have pointed out this tariff war that he started against the world economy is totally wrong all the way around. I have to agree with their point. How long will the farmers have to wait for the results. I feel it will be some time.
OS, you said, “Trump is not the one negotiating the trade agreements.”
He says he is. He says he is the greatest negotiator ever, so shouldn’t he be doing all the negotiating? Is he lying about who’s negotiating or is he lying about being the greatest ever? Or is he making a poor decision by handing the negotiations off to an inferior negotiator in his deministration?
Here is old bozo in Fargo today
“U.S.-Canada trade talks look set to drag on as President Donald Trump ratchets up pressure by threatening auto tariffs he says would mean the “ruination” of the Canadian economy.
Trump, speaking Friday in North Dakota, said he believes Canada is ripping off the U.S. and repeated that, if a deal can’t be reached, he’ll apply a 20 percent tariff on cars. “In some countries, including Canada, a tax on cars would be the ruination of the country. That’s how big it is. The ruination of the country,” he said. “Nafta has been the worst trade deal ever.”” https://www.bloomberg.com/news/articles/2018-09-07/trump-threatens-canada-s-ruination-on-autos-amid-nafta-talks
trump’s tariff’s would raise the cost of a vehicle by about $5,000.00 https://www.usatoday.com/story/money/2018/07/03/car-prices-trump-auto-tariffs/745342002/
Of course Canada is not going to pay, you are.
There is something seriously wrong with you guys. I spent the evening at the 445 (happy hour) and then Murphy’s for dinner. There are “local” places that you all do not support since you are not from here. “Here” being South Dakota. I really don’t know why you all troll our state blog. In a way it is rather sad. if you want to make a difference, contribute or be a part of a great community move here. If you decide to stay where you are you should butt out of our business, Jerry, Debbo, find a home. this is not your home. This is our home. You do not live here. You live elsewhere. You can stay where you are and destroy that place or you can open your minds to value. morals and civilization and join us. Otherwise you really should butt out of our business.
Pretty comfortable right here Old Soviet
Mr. OldSarg, I am with you on the point that all these out-of-staters who really don’t have a reason to hump on our South Dakota dogs simply are wannabe South Dakotans, because otherwise they’d have blogs in Iowa or Minnesota or all the other foreign states. But I don’t think this is “our state blog”, in fact I submit it is absolutely not “our state blog” it is the opposite. This blog is the most anti-South Dakota blog in the blogisvere.
I like your choice of watering hole and dining establishment. Perhaps our paths will cross at breakfast one of these days.
I love the local Trump impression, OS. Demonizing the “others” who are not living “here.” You’re picking up the Trump shtick pretty well. I assume next you’ll suggest some kind of ban on people that don’t meet your criteria. Build that wall and Iowa will pay for it!
Speaking of old dogs, how ya been Mr. Grudznick? Old Soviet got his paytroll check today from trump/Putin and cashed it to go to the bar, maybe join him for some good time laughs.
OS and Grudz, if I can’t talk about I state I no longer live in, then you can’t talk about a body you have NEVER lived in. So keep your mouths shut about women– our rights, our bodies, our babies or not, etc.
Debbo for the win!
OldSferbrains and OldGrunge, if Neanderthals had taken yer advice, you two would still be picking nits and lice off each other.
OS, you need some new arrows in your quiver. Time and time again, we refute your stale and limited arguments, but you keep using the same ones. Is the purpose of your commentary really to expand people’s knowledge, or is it just to throw up the same flak every time in hopes of distracting everyone from the new evidence and solid facts I put out every day?
“It’s gonna be a tough race”, he said about the South Dakota Governor campaign. If you believe only one thing Trump said at his high-priced rally, believe that line. Once in a while, he swerves into the truth.
Just ask yourself… what is the President doing here? This race is supposed to be a shoo-in for Noem, right? She knows she is going to have to significantly outspend Sutton to win.
When Os tells us “There’s something seriously wrong with you guys.”, that’s a tell. He’s projecting his troubled mind onto others. Many veterans don’t know how to socialize with civilians and they become grouchy and irrational, especially in their political beliefs. It comes from being told what to do, from morning to night. From New Years Day ’til Christmas. From being piece on a board, moved around with no thought of what’s best for you.
Do you ever here people thank veterans for their service? That’s wrong and potentially harmful.
~ “Time for a dose of truth: Not all veterans are heroes. Like any organization, the military has it’s screw-ups, it’s opportunists and people that joined for the wrong reasons. The simple psychology behind it is this: Vets don’t feel like they did anything special. This is a universal feeling among veterans; I have yet to meet one who claims to have contributed more than any other individual in the Global War on Terror or Vietnam or any other conflict for that matter. They volunteered to do a job, got paid to do that job and came home.” – James Kelly
https://inmilitary.com/why-saying-thank-you-for-your-service-offends-some-veterans/
Jimmy, Trump came here because the only thing left on which Noem and other Republicans can campaign is the Leader Cult, the cult of personality. They can’t campaign on the Republican platform, because they have abandoned it. Republicans no longer oppose higher taxes, because tariffs are taxes. Republicans no longer support free trade. Republicans no longer care about deficits. Republicans no longer care about Christian family values or telling the truth. All they have is “The Leader makes you feel good (angry, bitter, bullying good), so do what the Leader says!”
That’s right, Cory. Republicans are staunchly defending Trump while he cheats, lies and abuses his power. The same Republicans who demanded impeachment of Clinton for far less. Amazing.
Thank you Darin. ☺
Yep, Pootiepublicans only stand for 2 things now: Lust for Greed and Power.
Ms Debbo, my friend, you done got all of Grunge’s goats for your lonesome self. I imaging Muslims would gladly take them off yer hands once they had been fumigated and reprogrammed to reality.
Excellent job, my friend.
Ms Debbo, my friend, you done got all of Grunge’s goats for your lonesome self. I imagine Muslims would gladly take them off yer hands once they had been fumigated and reprogrammed to reality.
Excellent job, my friend. :)
You done good my computer had to praise you twice. Yer worth it
Back on the subject at hand: I would think that the Wall Street Journal calling Trump out for his bumbling trade policies should be pretty authoritative. They say in their lead editorial on August 28th that “We’re glad to see Mr. Trump step back from the suicide of NAFTA withdrawal, but on the public evidence so far, his new deal is worse.”
It sure doesn’t look like we are winning anything under Trump. In the midst of his trade war, the trade deficit with China has gone higher, still. Ooops!
https://www.reuters.com/article/us-usa-economy-tradefigures/u-s-trade-deficit-surges-to-five-month-high-as-exports-fall-idUSKCN1LL1ME
Thank you Mike.
Thank you Mike.
Darin posted:
Jason, do you have any idea what percentage of crops were contracted before Trump’s trade wars ensued?
Darin,
Please tell us what you think the percentage is?
Jason, why don’t you tell us how much is contracted. You are the expert.
Just ask your farmer friends Greg. Do you have any friends that are farmers?
Jason, I am a farmer and I have several friends that are farmers. I am saying that the percentage of contracted soybeans is only 30 -35% of the up coming crop. I am sure looking backwards at this whole scenario you will criticize farmers for not contracting soybeans. I can tell you it’s a little more complicated than the armchair farmers think. There is risk by making cash contracts on any commodity, one is that you have to grow and deliver that crop. If you get hit by drought or hail and lose your crop, you still have to deliver your crop that you don’t have. You can also hedge your bushels with the board of trade but that gives you no protection for a widening basis which has widened to $1.40. Jason, farming is a risky business, it’s not as easy as you think. Just look at the auction sites and see how many are bailing out before all he’ll breaks lose. Go ahead and stick up for Trump, he is a bully and that’s how he has handled this trade issue. Farmers and consumers alike are going to take an a$$ kicking.
Star that: Trump is a bully, and SD farmers and US consumers are victims of the collateral damage.
Jason, like Trump, is willing to throw blame at anyone else just to shield Trump from the honest, fact-based criticism his impulsive policies deserve.
Greg,
I would say that is a little low. A lot of farmers are also contracting old grain.
Do you sell all of your grain every year?
Cory,
Let’s discuss this.
U.S. Weighs Sanctions Against Chinese Officials Over Muslim Detention Camps
https://www.nytimes.com/2018/09/10/world/asia/us-china-sanctions-muslim-camps.html
Jason, with soybean prices at nearly $9.60 for weeks why would farmers be contracting old crop grain for new crop deliveries. The best prices of the year were after trump warned soybean farmers of a possible trade war . If a farmer is still sitting on old crop soybeans he didn’t have a very good marketing plan. Jason, I still will stand on only 35% of the total 2018 soybean production is forward contracted. Most farmers will contract 50% of a normal size crop and if it is a big crop it ends up 35 t0 40%.
U.S. Weighs Sanctions Against Chinese Officials Over Muslim Detention Camps
When did Drumpf ever give a hoot in hell about a Muslim, Jason? All fakery. Just trying to improve Drumpf’s image as a tough potus.
Greg, with an office in Brookings back in the ’90s, my futures brokerage firm traded and hedged millions of bushels of row crops, mainly corn and beans, every year. I agree that at most, farmers contract about a third of their crops, often before planting. Here’s a discussion (the headline is a bit misleading, but the body of the piece is consistent with what you’re saying) from Farm Horizons that pretty well sums it up. http://www.herald-journal.com/farmhorizons/2016-farm/contracted-crops.html
John, that is a good article. Jason should read it so he can get a feel for ag marketing. It always looks easier than it is.
I wonder when someone will weigh sanctions on the trump/United States for detention of children in concentration camps. One for at least one year without seeing or hearing from his parents.
With the record corn and soybean crop for 2018, now what? How do you contract something like jello?
Elected republicans accomplices to trump have got to go, all of them.
“Brady Mallory: “So, for family farmers here who are worried about losing their generations-long farms — at the end of the season –, (and) early retirement, any words of comfort for them now?”
President Donald Trump: “Well, they would’ve lost them anyway because they were being hurt so badly by the trade barriers. We will tell you they are going to be in a very good position soon.”” https://www.keloland.com/news/local-news/president-trump-talks-farmers-tariffs-in-one-on-one-with-keloland-news/1426386914
There ya go, farmers and ranchers, you would have lost the farm anyway because you were being hurt so badly. Think about that as you vote this November… The elected accomplices, Republican all, could give a damn about you or your situation. Vote Democrat to sweep the trash out of the state and Washington.
Jerry, those are very unique “words of comfort” to farmers who will lose their farms. I suppose it is like the DUI driver of a car that killed a child telling the family of the victim that “he would have died anyway.” Such is modern Trumpian empathy, go figure.
Or maybe telling right to lifers a fetus would have died of malnutrition or disease in a compassionate conservative world where kids are on their own.
I’d ask if Drumpf still believes trade wars are easy to win if I wasn’t sure he doesn’t know and doesn’t care.
BOHICA ~ Don the Con
You are all off target again. We need to discuss the topic at hand not the divisive rhetoric that is hurting the stellar effort to bring victory over a 100,000 vote deficit!
Here it is: “please don’t trouble Trump and Noem with such policy details” how to we reduce the concerns of Trump and Noem other than by fighting over elections the democrats cannot win?
Thoughts?
Pootiepublicans ag plans remind me too much of the ag crises of the 80s. That was such a grim time, though not as bad as this one overall.
They just can’t manage an economy, can’t govern, since Eisenhower.
You’re right Debbo! Republicans can’t manage a McDonalds much less the whole of the United States. It would be better for all of us if we had someone like Obama back, with his expertise in industry, business and as an infallible entrepreneur. Obama’s proven ability to start new businesses in the slums of Chicago when he was a simple community organizer who brought the Black unemployment down below 3%, street crime became nonexistent and his ability to raise the GDP to over 22% as president is what saved our Nation. We should fight against all this “re-negoiation” of treaties that brought so many jobs to our neighboring countries instead of here in this miserable United States!
https://thehill.com/opinion/finance/407030-trumps-great-trade-deals-better-get-here-soon
Big US korporations have already lost hundreds of millions due to tariffs and if Drumpfnhad left TPP alone, Americans would be 1oo billion plus dollars wealthier.
https://www.vox.com/world/2018/9/18/17790600/us-china-trade-war-trump-tariffs-taiwan
China fights back. America loses. Thanks for the lack of diplomacy, Drumpf.
Aaron Neville tells it like it is- (not really) https://www.nbcnews.com/news/us-news/aid-checks-go-out-farmers-worry-bailout-won-t-be-n912311
So who is paying NOem to be the useful idiot? Hey, I know, NOem wants another tax scam so we can attempt to buy food as the bottom continues to fall out.
Trump’s trade wars start biting GOP ahead of midterms
With fresh U.S. tariffs on Chinese goods taking effect Monday, company reports and prominent sentiment gauges are flashing early warnings for the economy.
By BEN WHITE 09/24/2018 05:03 AM EDT
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President Donald Trump’s trade battles are already triggering economic warnings — and rising danger for Republicans just ahead of the midterm elections.
As fresh U.S. tariffs on $200 billion in Chinese imports take effect Monday, surveys show consumers growing increasingly worried about higher prices this fall. Giant retailers such as Walmart are warning of price increases for manufactured goods. And smaller businesses in swing states and districts from Washington state, to Iowa, to Tennessee are complaining bitterly about big hits to their exports.
The economic fallout from Trump’s skirmishes with China, Canada, Mexico and the European Union risk making an already tough cycle for Republicans even more brutal, giving Democrats a chance to peel away voters linked to influential industries — like Washington state cherry farmers and Tennessee whiskey makers — who have long supported business-friendly Republicans.” Ah, the so called old days.
https://www.politico.com/story/2018/09/24/trump-midterms-trade-wars-china-801315
Somebody (of course it was wingnuts) goofed bigly.
https://thehill.com/opinion/finance/408065-trump-team-wildly-underestimated-the-costs-of-tariffs
4500 exemptions for steel tariffs were expected and so far they had 6X that amount and climbing.
New parents had better take on that other job.
“”The new round of tariffs President Donald Trump announced Monday could hit new parents where it hurts, with cribs, bassinets, diaper bags and other infant products all on the list of products that would be affected, manufacturers say. This latest round of tariffs would impose a 10% tax starting Sept. 24 on $200 billion in Chinese products and would increase to 25% in January 2019.
Manufacturers are sounding the alarm about the possible impact on consumers. A crib that sells for $200 could see its retail price go up to $250 to $300, warned St.Louis-based crib maker Delta Children’s Products in a letter to the United States Trade Representative. The tariffs could also have dangerous consequences if families try to save money by buying used cribs that don’t meet current safety standards, Delta’s letter said.” https://www.marketwatch.com/story/oh-baby-cribs-bassinets-diaper-bags-and-other-infant-products-are-on-tariff-hit-list-2018-09-21
USA factories in China, expecting the boot soon, have decided en masse that the new China is Cambodia. They expect a 25 year process is required to equal the infrastructure they’re leaving behind in China. (Moving back to USA wasn’t even an option on the table.) Are we tired of winning, yet? VBOE (vote blue on everything)
Cambodia is huge part of the One Belt One Road of China.
“Cambodia is an integral constituent of Xi Jinping’s Belt and Road Initiative (BRI), with the number of Chinese investors showing interest in the kingdom’s market growing rapidly, a Chinese economist said yesterday during a conference on promoting cooperation between China and Cambodia.
Guoyou Song, professor at Fudan University and director of the Centre of Economic Diplomacy in China, speaking during a conference dubbed ‘Cambodia and the region under the BRI’, said Cambodia’s strategic location make it one the most attractive destinations for Chinese investment, with the number of Chinese companies realising this on the rise.
“Cambodia is a good place to invest and has many advantages, including solid economic growth and political stability,” Mr Song said.”
“https://www.khmertimeskh.com/5088419/cambodia-key-country-belt-road-initiative/
China has no problem with Americans or American business. China has a problem with TRUMP. (So does America.)
Indeed, as we pay more for less, it just may dawn on everyone how badly they have been played. trump and his accomplices have done more to destroy the moral American fabric than any of our external enemies could have ever hoped for.
Stand-up comic trump makes the UN laugh at his stupid remarks while our own people shudder with terrible economic losses that will continue on into the future. https://thinkprogress.org/united-nations-laughs-at-trump-video-4a6d85d2d8fb/
My, how we have fallen in the world’s view of us and what we stand for.
Consumer confidence hits 138.4 in September, vs. 132 estimate
September’s index print is near the all-time high of 144.7 reached in 2000, the Conference Board said Tuesday.
“These historically high confidence levels should continue to support healthy consumer spending, and should be welcome news for retailers as they begin gearing up for the holiday season,” says Lynn Franco, director of economic indicators at the Conference Board.
https://www.cnbc.com/2018/09/25/consumer-confidence-september.html
Consumer confidence just hit me right in the pocket with an 8 cent a gallon of gas increase from the biggest energy producing country in the world.
Agriculture Confidence Index
OMAHA (DTN) — There’s just no denying it, the results of the most recent DTN/The Progressive Farmer Agriculture Confidence Index are eye-popping.
Despite increasing trade war pressures, falling soybean prices, and a general worry about what the 2018-19 grain marketing season will bring, farmers responding to the DTN/Progressive Farmer survey said they are as confident as ever, pushing the index to a record-setting 164.8.
That’s exactly 30 points higher than the index of spring 2018, and 10% higher than its previous high mark, set in 2010, noted Robert Hill, economist and original designer of the ACI.
The big boost in the overall index, Hill said, comes from how farmers felt about their current business health.
https://www.dtnpf.com/agriculture/web/ag/news/article/2018/09/26/farmers-happy-harvest-begins-2
Today China lowered tariffs on products from all nations except the Kremlin Annex, which means other countries goods will be cheaper than America’s and that will hurt Americans, other than Drumpf.
https://www.usatoday.com/story/money/nation-now/2018/09/26/china-tariffs-donald-trump-ford-ceo-jim-hackett/1433220002/
Drumpf tariffs gonna cost Ford a billion bucks.
Great link mfi, a billion dollar loss for Ford and for what? The Fed just raised interest rates again and will no doubt do it again before the 1st of the year. If you are in the markets you are just trending, the only ones who are faking making it are the company’s buying back their stock. Hang on. Have you had Enough yet? Vote Democratic like your country depends upon it.
Africa will increase soybean production with more land under tillage. https://wandilesihlobo.com/2018/05/24/a-few-notes-on-africas-soybean-production/
I don’t really think that ag producers quite understand what is happening regarding this trade war. There will be no winners in this, no one country stands to gain from all of this and ag producers will need to be nationalized even more so, before it is all over.
Brazil will pass the United States in soybean production this year.
SAO PAULO (Reuters) – Brazil will surpass the United States as the largest producer of soybeans this year, taking over the top ranking for the first time in history, oilseeds crusher group Abiove said on Friday.” https://www.reuters.com/article/us-brazil-soy-usa/brazil-to-pass-u-s-as-worlds-largest-soy-producer-in-2018-idUSKBN1IC2IW
So now what? Ag producers need to be asking themselves, how is this trade war helping me? How many seasons will it last? What is the endgame? What did NOem get us into? Why would I vote for Johnson when I know that he will keep doing the same stupid stunts? Have you had enough yet? Vote Democratic.
China has purchased 2.5 million acres of tillable land in Russia for production. That is a whole lot of grain production.
“Soybeans were one of the first major casualties in the ever-escalating trade war between the U.S. and China. Russia is hoping to take advantage of the situation and cut deals with Chinese agribusinesses to make up for lost supply.
The Washington Post says the Kremlin will offer roughly 2.5 million acres of arable land to foreign investors. Analysts are describing it as a bid to replace the U.S. as China’s most reliable soybean supplier.” http://southeastagnet.com/2018/08/27/russia-selling-china-soybean-production/
The world is waking to the fact that this trade war between the two largest economies, is gonna spill over. The best way to help control losses is to gain the upper hand. trump is playing the aces and eights with ag producers livelihoods in the kitty.
Have you had enough yet? Vote Democratic as if your homestead depended on it.
It’s okay, Jerry. Jason farmers have never been happier and more enthused about the future.
NAFTA has been saved! Yep, pretty much the same as before, but check this out:
“A dairy farmer in Canada in August. Canada is expected to ease protections on its dairy market and provide access that is similar to what the United States would have gained through the Trans-Pacific Partnership.” Much ado over nothing with these frauds. The same great trade plan, with the then complete Republican support, that trump pulled us out of will now be what to expect for Canada. If trump would have stayed in the TPA, South Dakota farmers would be selling their bumper crops and turning a profit with cloudless horizon’s for next year. Instead, we are looking at our shoes and wondering if we will be able to afford at least a new pair next year.
Vote the corrupted crooks out of office. They all deserve to be censored for their complicity in undermining our ag economy for years to come.
Interesting that
trump would put at risk 800,000 young Dreamers held hostage for his wall. No surprise he would put at risk the 800,000 population of SD with his farm tariff machinations.
Fascinating and fearful comparison Leslie.
Another wingnut with zero clews about anything. May I present Comrade Ivanna Kuturnutzov, freshman KGB agent representing iowa in the Kremlin Annex?
Here is her take on the nu-NAFTA- https://www.rawstory.com/2018/10/gop-senator-calls-trumps-trade-agreement-great-win-admitting-no-idea-whats/
No idea what is in it, but it is great.
Joni is just another pig caller. She is correct though. What does all of this mean? We are trying to contain China so we are punishing China enough so that the manufacturing China was doing will now go to Vietnam. Boy that will show us all how to bring back American jobs. In the meantime the re-branded TPP will not allow Canada or Mexico to make trade deals with China. Boy that will show those pesky Canadians and Mexicans that they can only do business with who we tell them to do business with. Oh, and that includes the EU as well on a separate deal.
So then to recap, we want to isolate China…and we want to make sure that China does not open the trade then with someone like North Korea or Venezuela, or anyone else that we don’t want them to trade with. Yeah, this ought to work out real well for us. We still are not bringing back manufacturing jobs, we still are not selling grain, but we sure are telling a whole lot of people how to do their business.
jerry, you really know nothing about trade at all. I take it you were someone’s employee your whole life. How sad.
Comrade Ivanna Kuturnutzov.
Very good Mike. I think she ought to save Iowa any more embarrassment, don her coveralls and go back out to the hog barn with her best friends, full time.
Since trump was appointed by Putin, he has outsourced 140,000 jobs. Wow! Here was his track record for his first year”
“All told, in the year since Trump was elected, more than 93,000 jobs have been certified by the Department of Labor as lost to outsourcing or trade competition, slightly higher than the average of about 87,000 in the preceding five years. But federal contractors made up 10% of that number, rather than the previous average of 4%. That suggests companies that work for the government like General Motors, Boeing and United Technologies aren’t worried about political repercussions from the man in the White House.
More than 10,000 jobs at federal contractors have been sent over overseas since Trump was elected.
Consider United Technologies, which is the parent company of Carrier, a maker of air conditions and heating equipment. Carrier became famous shortly after the election when Trump loudly and personally intervened to “prevent” the company from outsourcing jobs to Mexico by offering it tax breaks. Since the spotlight has shifted along with Trump’s limited attention span, Carrier announced more layoffs, including 215 after the holidays. Local labor leaders say they feel betrayed.
The reality is that the president has little leeway in federal contracting law to prevent companies, even those hired by the government, from shifting jobs overseas.
To actually protect good jobs in the United States, major fixes are needed to US trade and tax laws that make it profitable for companies to shift production and earnings overseas, as well as more investment in training workers for jobs that add more value. While the US currently enjoys low unemployment and (slowly) rising wages, low-skill workers still struggle to find jobs that can support a family or afford the education for work that does. It’s not clear, however, that the Trump agenda is going to bring them much relief.”
Not likely to happen kids, there is way too much profit in outsourcing.
She could kibitz with Comrade Devin Nunes in Sibley, Iowa. You know, the Russian traitor that is supposed to be representing constituents in Tulare, California. Cow crap does smell better in Iowa though, richer with the new dumping and less quality.
jerry, you are talking small potatoes compared to the number of jobs created by Trump. Your stats are n o t h i n g.
Unemployment the lowest in 65 years. Trade renegotiated in the favor of “my” country. Lobotomies are still covered for you. You’ll be ok.
Only a Russian would speak so lovingly about potatoes. Go drink some of them, like in the old country, no? It is Tuesday so you probably have some of your paytroll from last week to spend.
I get a payroll check, different than paytroll check. Mine is signed by an American whilst your’s is signed by Vladimir Putin. We both work for the man, only mine is an American and your’s is a stinking Russian.