Trump accuses China of currency manipulation because their currency devalued in the wake of his tariffs. However, as Bill Black explains, this accusation has no basis in fact. Instead, Trump’s trade war only increases the likelihood of a recession
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This is why we need to get rid of the monetary policy, as the monetary fund has been goin on for too long!!
The monetary system makes people greedy, when people don't have enough, they end up doing crazy things for money, like sell their body for sex or sell drugs, really bad ones aswell.
The monetary system is bad, it makes people poor and more poor!!!
Jealousy aswell!!!
We need this gone now!!!!!!
This is totally insane that "grown" men and women would support trump's pathetic display.
He"s trying to fail. Why's Trump trying to fail??
Recession started last summer 2018, It's only getting worse you. I voted for trump but I wont again his policy sucks on trade. The red flag Law will also cost him along with farmers they have been hit so hard his payout to them has barely helped .
Trump has done everything he can to "reverse' everything former President Barrack Obama did. But guess where that puts you? 2007.
When a currency is a commodity it has labor in common with all other commodities.
The second function of labor in society is to be the common substance of things including a currency.Â
When currencies are compared to each other in their various price ratios we have to use average labor-time of each country to see the real differences in value of their currencies.
We have to see their purchasing power in terms of how much GDP will it take to buy another country's product. This is the only way to tell what is going on with currencies.
When this method is applied to China's currency, we can see its productivity has fallen causing their goods to contain more value fetching a higher price and this appears to the Trump administration as artificially raising the price, accusing China of what Trump does with tariffs.
Your volume is always low, but today it is just difficult to hear.
Is 2.1 almost 3%?
THE US WOULD RATHER CAUSE CHAOS AND ANARCHY THAN TO WORK FOR A SUPERIOR RACE: CHINA, DUE TO THEIR MIND BOGGLING TECHNOLOGY. SO IT IS THE LORD WHO WILL NOW CAUSE CHAOS AND ANARCHY. PERIOD.
FROM THE 2 ROYAL HOUSES OF KING DAVID OF ISRAEL AND KING SAUL OF THE BENJAMITES
Well the president really wanted to hurt China stop buying Chinese products
i just looked at the price charts for soybeans corn and wheat, they all follow the same trends since 08 generally down from historic highs , also world production of grains and soybeans up about 75% also i think american factory utilization is up to 80% from 75% but i'd like an expert to talk about the facts around these issues , all the facts
Not only are the tarriffs a tax on consumers, aren't they also a highly regressive tax?
https://www.counterpunch.org/2019/07/29/the-coming-savings-writedowns/
Communist China steals all Americas technology and does currency manipulation, under pays its people at slave labor wages. Democrats want to do nothing and return things as they were so screw the American worker.
how about a guest that supports labor TRNN your supposedly left wing why all this free trade propaganda , you don't present facts against free trade and there are many
i thought soybeans were a fungible commodity , bill black last time on TRNN you said the tariff would be paid by consumers but the devaluation offsets the tariff which you don't mention , i wish we could hear another perspective from an anti free trader, more facts less ideology
ever since 2016 I predicted around the 2020 election we would have a wall street crash only time will tell if Trump escapes being blamed for it
Please RN can you get someone other than Bill Black? I don't appreciate him giggling over a world economy which is leading to, in the words of Khamenei – "the mother of all wars". Invite Rick Wolff or Steve Keen, they are far more economically literate, and posses more appropriate black humour. When Black and Stein are on they are like Japanese schoolgirls. Today's conditions to me mirror the 1930s trade wars, we also have autocrats in power just like the 1930s. By the way farming is utterly fucked in the US, because of tariffs. Combined with Russian import replacements, and China looking to Russia for its staples, the US has unwittingly turned Russia into an agricultural powerhouse – why Santa Claus not mention that? Wolff would have done so I'm sure. Black is an establishment voice, a regulator, who will by necessity will lie about the peril people currently face. War is on the horizon and people like Black can never imagine it can happen. History does not repeat but this period in history is a pretty sick rhyme, a filthy limerick which I'd rather be dealt with by a serious (and towering) intellect.
The purchasing power of most Americans continues to fall.
I don't even think we got over the last recession and I'm wonder if we will fall into a depression this time around. I don't think Trump could have done anything that would have prevent this mess but his action sure did make it worse. Our problems all end up in the laps of corporations and their super rich stooges (like Trump).
All Republicans should watch this segment. Great job of explaining what dumb dumb doesn’t understand. Sent him back!
Pillsbury?
Trumps economic mismanagement is already being felt around the world, capital flight is on the move looking for safety in US treasury which is pushing up US currency making exports expensive, just today New Zealands Federal reserve cut its rates which sent the Australian currency into a tailspin. South Korea and Japan are in the midst of a trade dispute and the Euro is showing signs of recession.
So, should Trump have continued on with DC's policy of ignoring Chinese violations of trade agreements? Should he have continued to build up an authoritarian regime with its new President For Life? There is no evidence that the rise of a Chinese middle class is leading towards a demand for increased personal freedom and representation. The policy was a failure, and perhaps the policy crafters never cared if it worked so long as there was money in it for corporations and investors.
I've noticed several times on these videos that the interviewers voice volume is much lower than the guest speakers volume…please correct so we can hear better.
Good news for Australia I guess?
Tired of waiting for Thumps lastest attrocity?? Get out on AUG15 AT NOON PROTEST MARCH TO IMPEACH REMOVE AND DEPORT TRAITOR TRUMP NOW MEET AT CITY HALL AUG 15 NOON AND LET YOUR VOICE BE HEARD ENOUGH IS ENOUGH AUG 15 NOON TO IMPEACH REMOVE DEPORT THUMP NOW!!!
Always love it when you have Bill Black on.
Time to start stockpiling up on canned goods and other things that won't expire right away. And any other necessities you need. Buy Bathroom tissue when it's on sale and buy as much as you can. Buy some supplies you need and stock up. Use and replace supplies as needed. Just be prepared so you won't be stuck in the lean times.
Bring on the recession, it will boot Trump out of office faster than Democrats.
Trump is desperate
The TRUTH (history) is that Inverted Yield Curves only are bearish when rates are above 5%!
Economists do not do their own fact-checking. They just repeat what they have been taught.
Shame on you Bill. I expected a lot more!
Farmers, your sales has gone to RUSSIA. The Russian acreage for soy has absolutely skyrocketed. Compliments
of Mr Trump, thank u very much.
Self-absorbed capitalism, everyone doing their selfish best to be selfish.
I think that with in five year Russia will be the major supplier of soy beans and other food like pork to China. The biggest mistake USA have done the last 20 years is to not let Russia be part of the western world, but now it is to late. Russia and China don't need USA any longer. Here are some reasons:
– Russia have oil and gas that China needs. A lot of new pipeline are on the way……
– Russia have minerals and metals that China needs
– Russia have large areas that can produce all food that China needs.
– Russia will buy consumer products from China. This will make the Russians feel richer and generate more growth in both Russia and China
– Russia and China have a lot of gold and can handle a world recession better than USA and EUÂ
– Middle class is growing in Russia and China that means that the economy can grow inside the countries. USA is dependent on growth outside of USA since its middle class gets smaller and smaller.
– China educate twice as many high tech scientists than USA today and it is growing. This means that we will soon have USA companies "stealing" Chinese technology instead of the reverse.
It is too late for USA to change the growing power of Russia and China, but if USA try to change its politics to be more friendly to the rest of the world and let its middle class grow again will the world continue to see USA as a major power in the world. Today is USA just like a lost dream from the 50t's. The strength that USA have over China and Russia is that dream but it means that the middle class must grow and that can only happen with higher taxes on the rich and less influences from the companies in the politics.
……..and if USA is so stupid that they continue the economic war against Iran and it ends with a military war then we will see the end of USA power very fast, because a war will be what Afghanistan was for the Russians 1979-1980. Russia and China will be the only winners of such war because they will not take part in it before it is over and USA leave Saudi and Iran (If you wonder about Saudi. I predict a military coup in Saudi if there will be a war). Russia and China will build up Saudi and Iran after the war.
It's not just soybeans. It's also wineries and American lobsters. China is purchasing its wine elsewhere. Produce prices are already rising at the grocers.
Please raise the volume.
Thank Real News, your guess have good knowledge of trade tariff war. I like to hear his view of trade tariff war.. I believed he is right.
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China dropped the purchase of soy from Canada loss of 27billion.
It’s likely coming. Personal debt, corporate debt and government debt is all very high right now in the US.
just started getting on my shit.
The big short. It’s definitely going to happen again soon
trump is a shop closer and a bankrupsy specialist… wy the hell dou you think he was place there……. to close the shop…and bankrupt the corporation……