This is a tweet thread put up by a user whose name is AntifaPuddin'Pop. She runs and owns a business remodeling houses. She's a liberal, and she's smart.
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IMO, we are at a point of no return re: tariffs. Yes, Trump could do a few deals (maybe) or blink (again) with various countries. But that doesn't change the math. Ships take a month or more to get to the US. Once stores sell off all available domestic inventory two things will happen. The shelves will be bare of certain products for a month or more and when they return prices will skyrocket. Now compound that with overseas factories ramping down production due to a forced lack of demand. That will have to ramp back up, as well. Even if he changes course today, there will be an inventory gap. And if you think the domestic products will retain their lower prices once tariffs cause imported products' prices to evaporate or skyrocket, I have a bridge to sell you!
If you come into my replies calling me hysterical or stupid, please pony up with your masters degree in business or shut the f**k up. By way of example, my sales rep at a very large tile importer and I were discussing tariffs this morning. IDK if he even has his BA, and I don't care. He actually laughed when I mentioned tariffs. He said "A month? HA! Try months and months. We have millions of sq ft of warehouse space and saw this coming a mile away. We are stocking for the long haul." The. Sales. Guy. At. The. Store. So, what say you small businesses? Are you stocked in inventory for more than 6 months? A year? Can you survive financially for a few months with no sales? Most people would lose their house after two without income. Buckle up, Buttercups. It's gonna be a wild ride!
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Fortune magazine: Cargo volumes at US ports are undergoing a precipitous drop. The drop in container shipping is the latest sign Trump's trade war is having an effect on the economy, and one group of workers poised to feel the impact first, long-haul truckers.
The decline continues: Today's update reveals another drop in container ships departing China for the U.S. over the rolling 15-day window—used shipping capacity is also falling.
So, the point of all of this is, if there is anything you can not
live without for six or so months, go buy it now. I'm thinking about
getting more contact lenses and Gum soft-picks. Contacts are made in
the US from "Globally sourced material" and the soft-picks are from
Germany. Those are my two gotta-have items.
People can see only too clearly what their future holds and it's not encouraging. Forward-thinking people have been stockpiling for months.
ReplyDeleteWow. Just WOW. Thank you.
ReplyDeleteIt's going to get bad and who will dt blame? That could be a drinking game, now that I think of it. Or it could be an office pool.
ReplyDeleteYeah, it's fixin' to get real bad. I read a report a week or so ago that container ships are bypassing California ports. 50 something this time last year for the month of April, this year 81 or something like that. No goods coming in, no goods going out. Long haul truckers are about to be unemployed.
ReplyDeleteAlthough I live in Canada, I was worried last fall ahead of your election about the potential of tariffs. We went ahead and purchased new appliances knowing they would definitely increase in price if the tariffs were applied. But your suggestion of stocking up on our must haves is a good idea.
ReplyDeleteI'm sure a lot of truckers and longshoremen voted for Trump, ironically.
ReplyDeleteI've been stockpiling since he 1st mentioned Tariff, since, anyone with any Economic Sense knows what a Tariff actually is.
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