Scott Bessent is not only a liar, but an empty head

 Off topic but I was amused that Scott Bessant found the question of 'who is paying the tariffs' to be a very complicated question to answer when cornered by a congressman. That he even said that to a congressman is a no brainer. As someone who is supposed to be a highly touted hedge fund manager, this is nothing more than a bald face liar trying to lie through his teeth, knowing he cannot tell the congressman that USA consumers are actually paying those tariffs, not manufacturers in China or elsewhere.

Now, when a buyer enters a shop to buy something, who pays for the things he bought when you asked him? How complicated is it to answer the question. Scott Bessant's facial expression when confronted with this question is always clownish and finding difficulty dealing with it. He smiled uncomfortably, stammers when unable to answer the question directly and truthfully and tried to wriggle his way out with nonsensical noises like an animal caught in a trap. How he lied his way through is fun to watch. One congressman even told him straight in the face that he is not just brought in sitting there to lie.

Scott Bessent is nearing the end of his tethers. The tariff con that exporters from other countries have to eat those tariffs have been put to rest with USA consumers now finding out the escalating prices at retail outlets. Not only that, but other sectors like agriculture are caught in the tailspin of those tariff war and farmers regretting throwing their support behind Trump to get him elected. But it is too late to regret for that.

Now we are seeing that retaliation is even affecting the chips sector, with China telling its industry players to avoid using USA made chips. Slowly, Trump is killing what he was supposed to protect and still thinking he has cards left to play. No Donnie, the game is over, and the cards are not in your hands to deal.

China is slowly seeking out all the weak spots in the USA armor to attack when the time is ripe and when it is in a position to launch those attacks. Time is on China's side. After all China goes for long term planning and is well known for that. After clearing the hurdles to overcome the chips alliance with its own self-made chips, China is ready for the next stage of its retaliation in the technology war.

Anonymous

Panic buying for Christmas in America. By Nov all the shelves will be empty

Notice the spin on Channel News America about USA consumers unfazed by the tariffs and retail outlets are still reporting brisk buying. Guys, this is what I call fast spinning. USA consumers are buying not because tariffs are not a problem for them. It is a problem heading for them and going to hit them like a runaway train.

USA consumers are now in panic buying mode. They are buying for two important reasons - stockpiling, like in the earlier part of this year for fear of empty shelves at retail outlets, and the other factor is the prices shooting to the roof. So, of course USA consumers are buying early in July again, but not for the reason that they are unfazed by the tariffs. It is a good spin but not convincing enough for those inquisitive enough to look closely at the situation unfolding.

Do we remember the Government assuring Singaporeans not to resort to panic buying during the COVID 19 and that there are enough stocks being piled up for them? Did Singaporeans heed the advice not to stockpile? Of course not, when it comes to 'you die your business'. As we have seen, even NTUC food shelves were raided empty at the peak of the panic buying. And not to talk about toilet rolls being an item being stockpiled as well.

Now, can we understand the mindset of USA consumers also stockpiling before the shit hits the fan? Trump and his sidekicks have no fear of shortage of anything nor how high the price they will rise. They are ripping off the bottom feeders with an additional US$50 billion in taxes every month, adding insult to injury. The irony is the Hillbillies are unaware that Trump is not making USA great in any way but making them poorer. Anyway, ignorance is indeed bliss.


Anonymous

The USA is cooked for sure and the world must thank Trump for pulling off the bankruptcy of the century

The USA had no plans in place for farmers to sell their soya beans and corn after losing the Chinese market. Did Trump think about this before starting his trade war and now the tariff war? Now attempting to smuggle their soya bean products under the name as being Brazilian or Argentinian sourced items and getting caught.

The USA had no plans to put in place the manufacturing of consumer goods before starting the tariff war. Now, USA consumers are facing the stark reality that retail outlets are either running empty of things or prices rising steeply and getting out of control. USA relies not just on Chinese consumer product manufacturers, but also on Canadian and Mexican sources for most of its consumer goods.

The USA thought that outsourcing everything to others while they just keep printing money will ensure that its American dream will last forever. The USA never thought it necessary to open up rare earth mines, or refining logistics for them, preferring to push the ecological issues to others like China in the refining of rare earth. Having said that and knowing its fragility, the USA should not be throwing stones at others while living in fragile glass houses.

Now the USA is trying to bring back those industries when making things today are already so expensive in the USA, with added tariffs on raw materials like aluminum and steel. Who is going to pay for the rising costs, while Howard Lutnick is laughing all the way to the bank with a US$30 billion having been collected in tariffs so far and gloating about a US$50 billion a month tsunami. US$600 billion a year is peanuts compared to the US$4 trillions needed to cover the tax cut hole for the super rich.

The USA is cooked for sure and the world must thank Trump for pulling off the bankruptcy of the century.


Anonymous

Selfish interests of some Arab leaders would help the Americans and Israelis to continue to rule a divided Middle East

I was just wondering why Lebanon now wants to get rid of Hezbollah thinking that Isreal will likewise also remove the IDF from the South, a plan hatched by the USA. It is no more than a trap that the Lebanese Government has fallen into. Something is not right with the Lebanese Government trusting the USA. Trump is not even able to rein in Netanyahu, or just pretending not being able to. Hezbollah is a deterrent to fight off any Israeli attempts to annex Lebanon, like in Gaza. If Hezbollah is removed, we can expect Israel to be greedily waiting to invade big time and build more settlements in Lebanon. Did the Lebanese Government sell out Lebanon to the devil and is trying to make it easier for the devil to enter the house?

Israel is in the process of expanding and seizing more lands to build Jewish settlements, knowing that settlements built closer to the sea, in this case the Mediterranean Sea is a good real estate that is easier to protect, with the USA naval fleet coming a-calling in case of conflict with the Arabs and Muslims.

Many are not aware that Israelis, by the thousands, are now settling in Cyprus, just offshore from Lebanon. Is there an agenda in the making that we are not privy to. Some are even saying that the Cypriots will eventually end up like the North American Indians, their land stolen and having to live in concentration camps masquerading as 'reservations'.


Anonymous

China to support India as a member of UN Security Council member?

 Prof Jeffrey Sachs recommended to the Indians that India and China should cooperate and work together for mutual benefits within the Global South. These two most populous nations together could change the world dramatically and bring a lot of good to both countries and to the Global South community. And China should make an effort to support India's entry as a permanent member of the UN Security Council.

Under the present international climate and India China relations, this is a big hurdle for China to support this recommendation. China and India are still locked in a bitter dispute over border territories that apparently looks very difficult to settle. And there are many other issues that have plagued the relationship and contributing to an endless cascade of hostilities. Without settlement of their differences, India would always regard China as enemy. China too would not have any motivation to want to support India's aspiration to be a permanent member of the Security Council. It would be a nightmare for China should India be in the Security Council and join hands with the West to take on China.

However, the cause is not totally loss. India can deescalate the tension with China and work out a compromised settlement with China on the border issues. The rest of the problems are much easier to settle when this stumbling block is removed and giving India lesser reasons to want to oppose China. In reality, India has a lot to gain from being friendly with China once the border issue is resolved.

The border issue could be the trade off for China to support India as a member of UN Security Council and as a genuine partner of the Global South, of BRICS against an increasing aggressive and bullying America and the West. The conditions are turning more favourable for India to really want to be with the Global South and stop dreaming of being a member of G7, a white men's club. India should by now have no delusion that it could be a real friend of the West and America. India should wake up, the decades or centuries of humiliation by the West, of being played and flipped around like roti prata by the Americans must still be vivid in the minds of the Indian elite. Indians are coloured like the rest of the Global South, not whites and would never be accepted as whites.

India should reflect seriously on its role in international affairs and where its strategic interests lie.When India has sorted out these issues, it should start to talk to China seriously, to iron out the border issues and get China's full support to the UN Security Council. As it stands, the border issue would forever be a thorn in India's relations with China and the earlier this issue is out of the way, the better it is for both India and China.

Latest, India is so envious of China. Trump is not sanctioning China for buying Russian oil, but sanctioned India instead. This really pisses off Modi who thought he was somebody, untouchable. Now he realises he and India are nobody to Trump.