— Musings —03.03.2025 03:51 PM
And so it begins
Here’s CP’s first alert. It’s historic, actually.
We are heading into recession and long-term pain. The other consequences aren’t clear just yet. But one thing is clear:
Trump is the enemy.
U.S. President Donald Trump says 25 per cent across-the-board tariffs on imports from Canada and Mexico, with a lower 10 per cent levy on Canadian energy, will start Tuesday.
Trump says there’s no room left for America’s closest neighbours to negotiate a way out of the devastating duties.
The president says both counties would have to build car plants and “other things” in the United States to get the levies removed.
Trump’s executive order to implement economywide tariffs was delayed until Tuesday after Canada and Mexico agreed to introduce new security measures at the border.
The order initially tied the tariffs to the illegal flow of people and drugs across the borders — but Trump previously said the delay would allow time for an “economic” deal.
It remains unclear what the president wants to see from Canada in exchange for dropping the tariff threat for good.
First, it was about Fentanyl, and Canada addressed it. But tariffs anyway.
Now, it is about countries needing to build car plants – but countries do not build car plants-car manufacturers do…..it’s about creating chaos and stock market acting accordingly -as I write this the Dow down 700 points….
Brad,
No one addressed the fentanyl labs in Van and TO.
Let’s do it Donny Boy. Put up or shut up. I’m tired of you holding the world hostage with your constant tariff bullshit. Tariffs on this and tariffs on that. Tariffs this day and tariffs that day. I think you’re full of shit or else you’d have just done it all already. You know this will kick your economy in the balls. You just want to outstare us and have us kiss your fat ass. Well fuck you you Putin bag licking bitch. We may not win the bench brawl but we’ll still kick your fucking teeth in. You’re gonna find out that is something Canadians are quite good at. As a country we need to stop these discussions. We look like pussies lining up to grovel and he loves it. Let’s drop our gloves and get this over with.
John,
[Smiling.]
1.48%. Fixed it for you. Not saying that this won’t be a disaster(I certainly had a pretty good haircut today although likely not even one of my top 100 daily drops) but to discuss market drops in terms of the number of points is silly. In October 1929, over two days the DOW dropped 30.57 and 38.33 points. The DOW dropped “only” 508 points on 19/10/87. Are you somehow saying this is worse? The TSX is down one quarter of one percent from start of the inauguration day. With dividends, you are likely up and Rip Van Winkle would not even have noticed. I remember when Pierre was touting Bitcoin. I thought that was a terrible move but the fact that the Liberals mocked him was even dumber(as it has turned out so far). And they continued to do it as it dropped. Thinking they have dropped that as a talking point.
Not to mention that the US should not be setting policy based on what benefits stock investors anyway (of which I am one, but I don’t expect any government to put my stock portfolio ahead of society at large).
Plenty of reasons to dislike tariffs, but “oh my god, the stock market might correct!” isn’t a valid one.
Right. Everyone is arguing back and forth about who should take credit for the 2008 bailout but all that is is an argument about who should get the credit for bailing out the Irvings, Bronfmanns, McCains, Desmairais, Belzbergs and all the other billionaires who are backing Art.
Pedant,
All the OrangeGoofBallTM cares about is his precious stock markets.
As far as what to do about it, I like Ford’s plan except I would preemptively do it. Cut the power off tonight. But, of course, I would last 10 seconds as a diplomat.
Cut it off randomly, for short amounts of time, without warning, in an unpredictable manner.
Warren,
We know exactly where this is going: it came straight out of the mouth of the POS Moron: as
many tariffs as Idiot Brain can imagine unless or until we become the 51st! Well, fuck him.
James Carville: “Trump ain’t right”.
Meaning, there’s something profoundly wrong with the President in an utterly disturbing way.
Concerning U.S. tariffs on Canadian goods: do the tariffs kick in, right away?
Douglas,
Part of them apparently tomorrow.
Warren,
You know that huge tax cut for asshole’s friends, Mr. Trillionaire and countless billionaires? Well get this — it can’t be done without gutting the defence budget OR….wait for it, tariffing the entire world to some extent as a secondary source of revenue. Bibi Brain also mused about abolishing income tax, at least for his good buddies!
Warren,
I wouldn’t cut off the tap. I would be smarter than that: I would export tax oil, gas, electricity, hydropower, and uranium and GIVE the proceeds from that export tax to the producing provinces as compensation for lost royalties or revenue. IMHO, this is the smartest way to play it.
If Trump invaded Canada, I’m not certain that all American military personal would be OK with that… and I have a strong suspicion that some of them…
especially the recently fired leadership personnel …might side with Canada…. Actively.
If you want a hedge, invest in mining companies that have claims in the Ring Of Fire:
https://www.snnewswatch.com/local-news/ford-sends-message-to-ottawa-on-ring-of-fire-get-out-of-our-way-10315679
We will see if Justin brings it up at 10:30 when he speaks. Ford challenged him directly:
“If we want to survive these tariffs … we need to ensure we get the federal government out of our way — no more duplication on assessments.”
Ford literally had an election and ran on the promise and got a mandate:
https://ontariopc.ca/only-doug-ford-will-protect-ontario-by-unlocking-the-ring-of-fire/
So will Justin respect the Ontario voters that incomprehensibly seem to be falling for Art? I guess we will see.
Martin,
In a word, NO.
Hopefully Americans realize that the inflation they are experiencing is because of their presidents dumb tariffs –
Americans voted for Trump, and Americans are not doing anything to stop him.
America is the enemy.
Relevant Bowie: https://www.youtube.com/watch?v=LT3cERVRoQo