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babylonsister

(171,220 posts)
Mon Jun 10, 2024, 07:52 AM Jun 10

Conservative Admits Trump's Policies 'Would Result in Price Spikes' for Most Americans


Conservative Admits Trump’s Policies ‘Would Result in Price Spikes’ for Most Americans
by Carl Gibson | June 10, 2024 - 5:13am

— from Alternet

snip//

But according to the New York Times, Michael Strain — who is the director of economic policy studies at the conservative American Enterprise Institute — said all signs point to higher prices if the policies Trump is running on become reality.

"I think we can say with a lot of confidence that President Trump’s trade policies and immigration policies would result in price spikes," Strain said.


Strain pointed to the former president's promises to deport millions of immigrants and impose massive new double-digit tariffs on imported goods as reason to believe higher prices are likely if Trump is president again. He said many of the products Americans buy that line the shelves of big box retailers like Walmart and Target are imported from China and that those high tariffs would be passed down to consumers in the form of higher sticker prices.

Additionally, Strain said rounding up, detaining and deporting millions of immigrants would "cause a severe supply shock to the labor market," as many industries including agriculture, manufacturing, construction and educational and health services rely heavily on immigrant labor. He said that if jobs predominantly done by immigrants — many of whom work for very low wages with no benefits — suddenly became vacant, employers would have significant difficulty getting native-born Americans to fill those roles. Unemployment is still fairly low at approximately 4%, and Strain said Americans would almost certainly pass up those low-wage jobs for work that pays better, and that the plentiful job market would allow them that choice.

"Basic economics say the result would be higher prices, as production falls and labor costs go up. For example, if farmers could not find enough workers to pick all their crops, there would be a smaller supply of produce and it would get more expensive," wrote Times reporters Maggie Haberman, Charlie Savage and Jonathan Swan. "And businesses would be forced to offer higher wages to attract or retain workers — passing on some of their higher costs to consumers."

more...

http://www.smirkingchimp.com/thread/carl-gibson/110627/conservative-admits-trump-s-policies-would-result-in-price-spikes-for-most-americans
17 replies = new reply since forum marked as read
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Conservative Admits Trump's Policies 'Would Result in Price Spikes' for Most Americans (Original Post) babylonsister Jun 10 OP
They don't care as long as they get their lion's share. marble falls Jun 10 #1
So high inflation with Old Crank Jun 10 #2
I just for once someone would ask a trumper exactly what policy Trump espouses that would make inflation go down. Ray Bruns Jun 10 #4
Just ask a Trumpturd what are ANY OF his policies, period. AZ8theist Jun 10 #17
Econ 101 ... aggiesal Jun 10 #3
This is a feature. See The Shock Doctrine - Disaster Capitalism erronis Jun 10 #5
That book was eye opening LA Blue Bengal Jun 10 #13
Trump's Policies: Price Spikes Ahead? teofilogray Jun 10 #6
Brother said yesterday....no new roofs or concrete poured. KS Toronado Jun 10 #7
When Republicans get rid of Social Security and Medicare markodochartaigh Jun 10 #8
Of course, how could suspending the constitution, declaring martial law and instituting the insurrection act not. Hotler Jun 10 #9
It doesn't take a Doctorate in Economics to figure that out. patphil Jun 10 #10
The Red states will declare an emergency, Shipwack Jun 10 #11
If AEI is saying it, you can bet their "study" predicted much much worse Simeon Salus Jun 10 #12
Once they finish "fixing" public education, field jobs may Buns_of_Fire Jun 10 #14
Florida found this out first hand. Ron De-Sans-Dick had his legislature pass a very strict anti-immigrant bill. 4lbs Jun 10 #15
As Lincoln spoke about that the United States would destroy itself Traurigkeit Jun 10 #16

Old Crank

(3,883 posts)
2. So high inflation with
Mon Jun 10, 2024, 09:47 AM
Jun 10

a recession as a 2 sectors of the economy cut back hard.

With a restricted amount of labour for construction and farming, and whites not willing to do that work those industries will have to cut back. Fewer houses built, fewer crops planted and harvested. Not only will the imports get higher prices but housing costs and food will go up.

His policies are a disaster.

Ray Bruns

(4,219 posts)
4. I just for once someone would ask a trumper exactly what policy Trump espouses that would make inflation go down.
Mon Jun 10, 2024, 10:04 AM
Jun 10

Just once.

AZ8theist

(5,693 posts)
17. Just ask a Trumpturd what are ANY OF his policies, period.
Mon Jun 10, 2024, 08:15 PM
Jun 10

Other than revenge, WTF does he stand for??

aggiesal

(9,072 posts)
3. Econ 101 ...
Mon Jun 10, 2024, 09:54 AM
Jun 10

High Demand & Low Supply = Higher prices

Duh

But who cares about higher prices when you have the full power of the government and a party that doesn't care as long as they have all that power.

erronis

(15,877 posts)
5. This is a feature. See The Shock Doctrine - Disaster Capitalism
Mon Jun 10, 2024, 10:07 AM
Jun 10

Naomi Klein.

First you have to destroy in order to rebuild in the fashion you want.

LA Blue Bengal

(14 posts)
13. That book was eye opening
Mon Jun 10, 2024, 02:41 PM
Jun 10

Especially the section about post-Soviet Russia. That was a huge mistake on the West’s part. Transitioning to the social democracy Gorbachev wanted instead of the Chicago School shock therapy would likely have avoided the multiple crises that brought Putin to power

teofilogray

(3 posts)
6. Trump's Policies: Price Spikes Ahead?
Mon Jun 10, 2024, 10:14 AM
Jun 10

Whoa, hold up! Even a conservative economist is saying Trump's plans might make stuff more expensive. Imagine paying extra for your fav clothes or fruits! That's what could happen with higher tariffs and less immigrant workers. Sounds like a big deal for our wallets, right?

markodochartaigh

(1,292 posts)
8. When Republicans get rid of Social Security and Medicare
Mon Jun 10, 2024, 10:55 AM
Jun 10

tens of millions of retirees will be forced to sell their homes into a crashing real estate market. Younger people will see their inheritance go up in smoke. And even wealthy young people with cash often won't be able to buy a home as they are out competed by hedge funds buying up houses for pennies on the dollar in cash. We saw this in the 2008 Bush II real estate crash.

Hotler

(11,621 posts)
9. Of course, how could suspending the constitution, declaring martial law and instituting the insurrection act not.
Mon Jun 10, 2024, 10:57 AM
Jun 10

All three tend to drive up prices.

patphil

(6,394 posts)
10. It doesn't take a Doctorate in Economics to figure that out.
Mon Jun 10, 2024, 11:07 AM
Jun 10

We're nearly at full employment now. Throwing out over a million immigrants, will result in a huge number of jobs flooding the market, and no one to fill them, labor costs will rise, and the price of goods and services will rise.
This will fuel inflation; probably bring about a recession.
Of course the Republicans plan to fill those open jobs with our children. Many states are lowering the age at which children can work in various types of jobs.
This will work out just fine for everyone...NOT.

Lets face it, we need immigrants to fill the entry level jobs most Americans won't take because these jobs don't pay enough to live on.
This is the way it's been for way over 100 years. Immigrants come here to escape poverty, crime, or persecution. They take marginal jobs and work hard to better themselves and their families so they will have a better future. It's ironic that most of the Republicans who are so anti-immigrant have ancestors who came here for all the reasons I just stated, and lifted their families up to achieve that better life that their Republicans descendants now see as "poisoning the blood of the nation".
Fuckin' incredible, huh?

Shipwack

(2,234 posts)
11. The Red states will declare an emergency,
Mon Jun 10, 2024, 01:33 PM
Jun 10

And have inmates work the fields, etc. Probably pay them less than the immigrants they replace, too. The prison corporations will split the difference with legislatures.

Simeon Salus

(1,180 posts)
12. If AEI is saying it, you can bet their "study" predicted much much worse
Mon Jun 10, 2024, 01:44 PM
Jun 10

They are always wrong in the same exact direction...

Buns_of_Fire

(17,343 posts)
14. Once they finish "fixing" public education, field jobs may
Mon Jun 10, 2024, 04:02 PM
Jun 10

the only thing left that future Americans are qualified to do. And the happy and content workers will be ecstatic when the overseers increase their weekly chocolate ration from 4 ounces to 3.5 ounces.

4lbs

(7,009 posts)
15. Florida found this out first hand. Ron De-Sans-Dick had his legislature pass a very strict anti-immigrant bill.
Mon Jun 10, 2024, 05:51 PM
Jun 10

Then, when he signed it, all the immigrants stopped coming to Florida.

The state agriculture and construction ground to a halt and people pleaded with immigrants to stay and finish their work and not leave.

F that. F around and find out.

From last year. Around this time. June 2023.

https://www.npr.org/2023/06/07/1180646146/florida-immigration-law-sb-1718-republican-lawmakers

Florida Republicans who voted to pass the state's imminent anti-immigration law are trying to curb a potentially disastrous mass exodus of undocumented residents by touting the legislation's many "loopholes."

GOP Rep. Rick Roth, a third generation farmer, told NPR on Tuesday that state Senate Bill 1718, which goes into effect on July 1, was designed to "scare migrants." But he admitted that he and his colleagues were unprepared for the destabilization it would cause among the state's more established immigrant communities.

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