By ann summers
“During the first week of the Muslim-ban, foreign business travel dropped by an astounding 185 million dollars. European flight searches for the United States have dropped by 11.6%, “
@powellnyt “I did not have sex with that wo…, communication with that Russian”
— Bijan C. Bayne (@bijancbayne) March 2, 2017
If at first you screw it up, try, try to screw it up again … except this time we promise we won’t take your oil ….
After Trump signed the original order, Iraqi Prime Minister Haider al-Abadi refuted the ban and said he would consider reciprocal measures.
Many Iraqi lawmakers urged the government to ban Americans from Iraq in response, despite the potential effects that might have on the anti-IS fight.
Al-Abadi then met with Defense Secretary Jim Mattis in Baghdad this month and underscored the U.S.-Iraqi partnership.
And Mattis walked back comments made by Trump, suggesting that Americans could get another chance to seize Iraqi oil as compensation for its military efforts there.
“We’re not in Iraq to seize anybody’s oil,” Mattis told reporters on that trip. Al-Abadi also met with Vice President Pence in Munich earlier this month, where the two publicly discussed ways of strengthening cooperation.
The Trump administration’s changes to the immigration order follow a report by intelligence analysts at the Homeland Security Department, which found insufficient evidence that citizens of the seven Muslim-majority countries posed a terror threat to the United States. A draft of the analysis was obtained last week by the AP.
Unfortunately, the geniuses on Lord Dampnut’s team haven’t reckoned that keeping the same list minus one, and not banning Syrians infinitely might have a deeper effect on the entire travel sector of the global economy,
Because America is so great no one wants to go anywhere, Americans don’t need to share itself with the rest of the world, and everything else can be done on the Twitter machine. And every traveler’s information might be made public.
Donald Trump forms agency to publish list of crimes by immigrants https://t.co/TPpb4KT0bz
— The Independent (@Independent) March 1, 2017
Donald Trump threatens to publish personal information of immigrants, refugees and tourists… Donald Trump has given his administration the ability to publish the private information of people living in the US.
A CHAOS ECONOMY — LORD DAMPNUT MAY HAVE ALREADY KILLED TOURISM FOR MANY YEARS TO COME
The travel app Hopper reported a 17 percent drop in searches for flights to the U.S. from 122 countries in the week after the travel ban was put into effect compared to the weeks prior, according to The NewYork Times, … However, the Chicago Tribune notes that searches for travel to the U.S. from Russia have jumped 88 percent in the past month.
In his usual piglet ham-fisted way, Lord Dampnut is doing more to kill the (inter)national travel industry than the Stasi ever did for East Germany.
Killing foreign business travel might improve the futures for commercial teleconferencing, but as Lord Dampnut’s gang members have shown, there’s no replacement for old-fashioned junkets and watching sex workers urinating on a bed, because seeing it over a livestream feed is not quite like being there, is it Donald?
Trade is also a function of tourism, often sharing common infrastructure as well as networked economies. Lord Dampnut, in his usual personality disorder, misunderstands the necessity of propping up ruling class leisure industries with the volume of travel by the rest of us.
And it still won’t kill off those human traffickers exploiting people willing to take migration risks. OTOH currency smuggling and money laundering seem to be as attractive as bridal trafficking. Bilateral profits will benefit some at the cost to others, a tradition that goes back to soviet- era entrepreneurs like Hammer, among others.
THE TRAVEL COMPANY FROMMER’S HAS REVEALED THE SHOCKING EFFECT DONALD TRUMP’S ELECTION HAS HAD ON TOURISM IN AMERICA, AN INDUSTRY THAT CONTRIBUTED 1.47 TRILLION DOLLARS TO GDP IN 2014.
“Experts across the travel industry are warning that masses of tourists are being scared away from visiting the United States, and the loss of tourism jobs could be devastating.”
The phenomenon is being called the ‘Trump Slump’ because it is a direct result of Trump’s election and policies, most notably his now defunct ‘Muslim-ban’ which blocked travelers from seven majority-Muslim countries. Tourism from the countries that were affected is down 80% despite the ban being lifted.
Even countries without a significant Muslim population are sending fewer tourists. Right now all foreign tourism is down nearly 7%. Online searches for flights from foreign countries to America have fallen by 17%, according to Frommer’s...
Trump’s misguided policy ideas stem from a profound ignorance of America’s role in the world. His ineptitude is already on track to wreak havoc on the U.S. economy.
As per the function of capitalism, someone will profit from market failure but any beneficiary will reside in the upper classes least affected by travel constraints or lack of wealth. Note that deportation and depressed travel can function like tariffs as they drive down revenue and raise costs.
Given that the travel industry consists of predominantly middle and lower-class paying jobs in hotels, travel agencies, airlines, ground transportation services and restaurant and leisure industries, this downswing will predominantly hurt people who literally cannot afford it right now—many of whom comprise the voting block who swept him into office.
Any half-decent con man can speak to people’s pain, but to alleviate it takes an entirely different skillset, and the only one that Donald Trump is equipped with will exasperate that misery.
Donald Trump’s economic plan is essentially a blueprint for fiscal incompetence, continued crony capitalism, and really bad ideas based on little more than protectionist policies that have already been proved to be giant failures.
So as a result of such an economic plan, eventually, the market’s going to respond by sending the bulls out to pasture while waking the bears from their long hibernation. And that’s why, just to play it safe, it’s a good idea to start finding ways to short the market.
- If Trump is somehow successful in following through on deporting 11 million undocumented immigrants, he would almost immediately shrink the economy by 2 percent, according to the American Action Forum, which is a very conservative and very pro-business think tank. By immediately removing 7 million workers, thousands of businesses would be affected resulting in a loss of between $400 billion and $600 billion in GDP. The market would not like that. Even the possibility of such a thing being done is something the market will not act kindly to.
- 1.) A 10% import tariff would reduce imports, but at the same time result in the dual threat of foreigners with fewer dollars to spend and retaliatory measures that would end up curtailing exports.2.) With an increase in tariffs will come an increase in production costs for companies operating in the U.S. And this results in giving foreign companies a cost advantage. Tariffs would actually strengthen US competitors while impeding investments in the US.3.) Adding a 10% tariff on top of a roughly 2 percent tariff that already exists would make it nearly impossible for a number of manufacturers to stay viable. As Ikenson points out, raw materials, intermediate inputs, and capital equipment account for about half of the more than $2 trillion of imported goods.
Want to get rid of undocumented workers? Great, get ready to pay 30 percent more for your next box of cereal, pack of ground beef or “affordable” fitted sweatshirt.
As indicated elsewhere, this slash and burn approach to the economy is as random as President Bannon’s hissy fits, throwing dishes and furniture because alcoholism is a disease dontchaknow. Sober-up and get your puppet to do the same. Destroying the administrative state is much more selective and less about wide-scale systemic destruction
— Jonathan Chait (@jonathanchait) March 1, 2017
There are two basic ways in which Donald Trump is not a normal Republican.
- First, he is crudely ethno-nationalist, which drives him to reject free trade and immigration reform, and rather than gesturing toward reconciliation with minorities, uses them as foils to gin up white racial paranoia.
- Second, he is personally ignorant and undisciplined in a manner that sets him apart not only from traditional Republicans but most human adults, and renders any position of his confusing and protean.
Yet Trump is attracting a great deal of attention and criticism for a third dimension of allegedly idiosyncratic behavior that is in fact perfectly orthodox: his economic-policy agenda.
The infamous Steves Bannon and Miller have not really innovated Republican policy in any major field. They have taken sides with a long-standing minority right-wing faction in Congress that opposes free trade, viscerally hates immigration, and longs to use terrorism and crime as racial edge issues…
An axiom of conservative movement thought, coined by Rick Perlstein, holds that conservatism never fails, it is only failed. Republican domestic policy has collapsed time and again over the last quarter-century: under George H.W. Bush, Newt’s Republican revolution, and Dubya. Conservatives have gained control over the party, but never figured out a way to reconcile the gap between their preference for low taxes on the rich and low social-insurance spending and a public that demands the opposite.
Destroying the “administrative state,” you would think, requires that he tell us whether the “administrative state” includes the safety net, entitlement benefits, anti-insider trading and consumer protection laws, anti-discrimination statutes, labor restrictions, transportation/infrastructure building, etc. Well, some of that he and Trump have vowed to keep or even expand.
And, of course, for all of his condemnation of international Wall Street, most everything in the Bannon-Trump agenda — from the repeal of Dodd-Frank to rolling back environmental laws — has the effect of enriching industry.
I suppose the “administrative state” means those parts of government that have interfered with the accumulation of wealth by Trump, Bannon and his billionaire Cabinet officials.
Bannon might seek to destroy the characteristics of the “administrative state,” the rational, rules-based system that ideally does not play favorites and impartially administers justice. Those pesky rules and objective criteria — as opposed to the elevation of favoritism, racial identity or brute force — were thought to be a good thing for the last couple of hundred years.
And speaking of the post-Enlightenment world, he and Trump are particularly hostile to scientists, journalists, health professionals (Trump is anti-vaccination, remember), statistics, math and photographic evidence.
These are “elites” or “fake news” sources.
As the source of contradiction and criticism that thwarts Bannon-Trump’s irrationality and bias, they are indeed the enemies of their state.