Donald Trump the Megathread part II - mod warnings in OP, Updated 18/03/25

Sure it's their own people are paying the tariff, it's their economy/ health will suffer, they don't make the most of the drugs internally so it's pay up or do without.

Trump doing exactly what a President should do, and calmly reassuring everyone.

Nothing is more calming and reassuring than a 78 year old man shouting "BE COOL!"

News from the Bond Market .. it just BROKE:

In just 3 days, the 10Y Note Yield surged 60 basis points while the S&P 500 fell -8%.

This marks the LARGEST 3-day increase since 1982 and one of the largest divergences in history.What happened?

The basis trade broke.

This is a twitter thread - more at the link below:

https://twitter.com/KobeissiLetter/status/1909939711210037256

@aidanodr I thought perhaps EU shouldn't apply retaliatory tariffs. On the other hand, with China responding, and the US stock market etc crashing, the EU and others responding piles that pressure on and may force Trump into a climbdown, or wakeup Congress to step in.

Ominous from the normally calm Paschal

Global trade war will mean 'lower living standards' says Paschal Donohoe

Finance Minister Paschal Donohoe has painted a bleak picture of lower living standards as a a result of  future trade "fragmented" along geopolitical lines.

The tit-for-tat trade-war is a major headwind for the global economy and "casts a dark shadow over prospects for the Irish economy," Mr Donohoe said in unusually frank comments.

"Tariffs, to put it simply, are taxes on consumption and investment and are unambiguously negative for economic growth," he said.

Overall, the impact will include not just lower trade and lower growth but "lower living standards," Mr Donohoe declared. 

"It is no exaggeration to say that the world is changing. Fragmentation will likely interact with other structural changes – an ageing populations, weak productivity on this side of the Atlantic, high levels of public debt, climate change and biodiversity loss, digitisation and the roll-out of artificial intelligence."

Mr Donohoe did not spell out the implications for employment and thus the tax-revenue cash for both public service and pensions.

But the import of his Dáil remarks were seized upon by Labour Party spokesman on trade Duncan Smith, who said people should take note at such comments from someone so widely regarded as calm and unruffable.

Mr Smith underlined that Mr Donohoe, a man of huge experience in the Finance portfolio, had referred to "global fragmentation" and "inexorable challenges" in the time ahead.

"I hope the minister, after saying those words, will be more open to instruments that will help the Irish economy and Irish workers," he said.   

In his speech Mr Donohoe said there was "mounting data and evidence  that global economic activity is becoming increasingly fragmented along geopolitical lines."

He added: "This is not something the Government, or even the European Union, can fully control."

Tariffs were  a "policy-induced shock" on top of an unprecedented series of shocks to the Irish and global economies, Mr Donohoe said, citing Brexit, the pandemic, and surging price inflation triggered by Russia’s invasion of Ukraine. 

"Unfortunately, this resilience looks set to be tested once again in the months ahead," he said.

Nowhere is this resilience more evident than in the labour market, where the employment rate has never been higher and the unemployment rate has never been lower, Mr Donohoe added however. 

"To put it another way, we’ve never had so many people in employment – over 2.8 million – and so few in unemployment.  To all intents and purposes, the economy is at full employment and I think we can take at least some comfort in this."

He said he remained conscious that price level remains "higher than before", adding: "Against this backdrop, it is essential we maintain a balanced and sustainable approach to budgetary policy."

Senan Molony44 minutes ago

holy jayzus…who in their right mind would want to kiss donnie vonshitzinpants arse…??!!!?

I am so suspicious of Fox that I think they picked a "special needs toy importer" on purpose. MAGA don't believe in special needs because of their weird "back in my day" thinking.

He will just be painted as a whiney lefty liberal.

It actually beggars belief that a country's leader would boastfully speak in such a crass, vulgar way. Between that and the appalling "Kiss him Goodbye" deportation video, MAGA truly is defiling the American White House. I see no way back for them now, not after voting this blackguard in for a second term.

On that note, I disagree with Simon Harris flying in with the legion of other "asskissers" to be lectured to and insulted. There is nothing to be achieved by pleading with a bully.

I think we have reached the "find out" era....

They voted a man with many bankruptcies under his belt. His latest will be bankrupt everyone 😁

Wow the faces on everyone else like deer in the headlights. Are they all just learning how this works..

'The US imports include maize, wheat, barley, rice, motorcycles, poultry, fruit, wood, clothing and dental floss, according to a document seen by Reuters. They totalled about €21bn last year, meaning the EU's retaliation will be against goods worth less than the €26bn of EU metals exports hit by US tariffs.'

There goes Montana!

i dont have enough words to say how bad it looks and sounds,a world leader talking like a track-suited scobie fcukwit… and after that show i dont see why anyone would want to have anything to do with him…

ive asked before…is there none of his money-men,the lads that backed him and paid for the presidency able to take him to one side and tell him "listen donny,your making a bollix of all this,your costing us money and embarassing the country,so just shut the fcuk up and go play golf.."

That's the dumb type of people you're dealing with.

It's the only way people will turn against trump anyway - they get hit in the pocket.