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Los Angeles, California, United States
The blog 'Breaking Bread' is for a civil general discussion, like you might have at the dinner table with guests. The posts 'Economics Without the B.S.' are intended for a general audience that wouldn't have to know the difference between a Phillips Curve, a Laffer Curve, or a Cole Hamels Curve. Vic Volpe was formally educated at Penn State and the University of Scranton, with major studies in History, Economics and Finance, and Business; and, is self-educated since by way of books and on-line university courses. His practical education came from sixty years of work experience in the blue-collar trades as well as a white-collar professional career -- a white-collar professional career in production and R&D. In his professional career and as a long-haul trucker, he has traveled throughout the lower forty-eight. From his professional career alone he has visited many manufacturing plants in the United States, Europe and China. He has lived in major metropolitan areas and very small towns in various parts of the United States. He served three years with the U.S. Army as an enlisted man, much of that time in Germany.

Monday, February 3, 2025

Trump and his tariffs

 

Economics Without The B.S.**: 


[**  Double entendre intended.]



Tariffs can do all kinds of things -- a source of revenue, protect domestic industry, use as leverage in negotiations. In the manner Trump is using them, they create instability in the economic sphere; not good for business, internationally or domestically. And a questionable strategy for pursuing our national security objectives. It doesn't say much for your negotiating skills, nor your skills in leadership; after all we are perceived as the leader in international relations. A skill we seemed to have forgotten.

If you think Trump is a business mogul, like the make-believe act on the television show ‘The Apprentice’, I will remind you that he had six business bankruptcies, and that was his main business – construction and casino/hotel operations – not including side ventures like Trump Champagne, Trump Steaks, Trump Airline, and Trump University. His last business bankruptcy was in 2009, when he refused to make a $50 million loan payment and wanted it renegotiated, which the lender rejected. His board of directors held a meeting in which Trump, as the CEO, argued with them. They demoted him and reduced his share in the company; firing him as the CEO – and you can look that up. That is quite an irony because in 2009 he was still doing ‘The Apprentice’ show where he was showing his make-believe business acumen and firing people.

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