The Dragon FUCKED With the Wrong EAGLE!

The day of reckoning has arrived! President Xi thought he would flex his muscles before our President left for the G7 in France. He decided to put tariffs on $75 million worth of our exports. Including on soybeans.

https://www.msn.com/en-us/money/markets/china-strikes-back-with-new-tariffs-in-trade-dispute-with-us/ar-AAGe0KF?li=BBnb2gh

From the article linked above:

China on Friday unveiled retaliatory tariffs against about $75 billion worth of U.S. goods, putting an additional 10% on top of existing rates in the latest tit-for-tat exchange in a protracted dispute between the world’s top two economies.

The latest salvo from China comes after the United States unveiled tariffs on an additional $300 billion worth of Chinese goods, including consumer electronics, scheduled to go into effect in two stages on Sept. 1 and Dec. 15.

China’s commerce ministry said in a statement it would impose additional tariffs of 5% or 10% on a total of 5,078 products originating from the United States including agricultural products such as soybeans, crude oil and small aircraft. China is also reinstituting tariffs on cars and auto parts originating from the United States.

The EAGLE sent his first salvo!

The Fed seems to have decided they aren’t going to take any action in September. They are completely in bed with Multinationals that do a good chunk of their business in China.

We are officially in an Economic War with China. Our President put U.S. companies on notice.

https://news.yahoo.com/trump-orders-u-firms-china-170100806.html

From the article linked above:

U.S. President Donald Trump on Friday said he has ordered American companies to exit China after Beijing unveiled retaliatory tariffs on $75 billion in U.S. goods, throwing a new twist into the bitter trade war between the world’s two largest economies.

Trump said on Twitter he will issue a response to China’s latest tariff plan on Friday afternoon. The president was meeting with his trade team at midday, a senior White House official told Reuters.

The U.S. president said he also was ordering shippers including FedEx. Amazon.com Inc, UPS and the U.S. Postal Services to search out and refuse all deliveries of the opioid fentanyl to the United States.

I will update this thread throughout the day.

PS – header image added by WOLF, from THIS interesting article:

https://bowalleyroad.blogspot.com/2015/05/eagle-or-dragon-in-coming-pacific.html

107 thoughts on “The Dragon FUCKED With the Wrong EAGLE!

  1. TY for the quick summary. PORUS now used the word enemy to describe BOTH Xi and Powell. Not which one IS, but which is GREATER.
    I hope he stays safe and doesnt let that pissant Macron physically hurt him again. Merkel can stuff it if she tries to tell him what to do again. If hes meeti g with Johnson I hope theres video.

    Liked by 14 people

    1. President trump won’t take any shit from merkel or macaroni. May very well dress them, their countries and EU down just to do it. AND, prop up UK / US trade potential…

      President Trump has the winning cards;-)

      Liked by 17 people

  2. ristvan’s take on China’s weakness FWIW:
    ristvan says:
    August 23, 2019 at 1:03 pm

    Did some research this AM on the additional $75 billion of tariffs imposed by China on US.
    Two tranches: 5% Sept 1, 10% Dec 15. Plainly a signaling move in re trade talks.

    And there are two tells.
    1. Aircraft now included. But only business jets and helicopters, NOT big Boeings because China has no where to turn.
    2. Now includes autos. US exports $9 billion, but only 230k vehicles, all high end luxury. The companies mainly hit are Tesla, BMW, and Mercedes.

    Shows the relative poor position China is in.

    Liked by 24 people

    1. IMHO, there are bigger “tells”.

      First, China is putting tariffs on $75B of goods in retaliation for our putting tariffs on $300B. Looks like their “big cannon” is 1/4 the size of ours.

      Second, they are putting tariffs on international commodities — soybeans and crude oil. This just means that countries who produce such commodities can ship them all to China including those they would otherwise have consumed themselves and purchase replacements from the US. The only change is shipping costs.

      Liked by 18 people

      1. And soybeans and fuel are going to drive up costs for basics for the Chinese population. Own goal and now they out of ammo. The curtain has gone up, no ones shadow boxing anymore. Potus gave China a chance to step back from being parasitic two faced secret enemies but they refused the pain. Whether they doubted his resolve, his ability, his understanding of they route to put all the pieces in place to first rescue and revive the us economy is now moot. The tide of opinion is turned as us citizens get jobs and are awakened to China’s true perfidy. We have crossed the rubicon. Please fasten your seatbelts and adjust your seats to maximum viewing comfort.
        New thought. On quod verum they have been discussing Sudan as the trial run for regime change a la Iran. I mean if Sudan with a bigger gap between haves and have nots, educated and non educated can have a peaceful transition with both sides talking. (Like in fucking Africa where it’s de rigour to just kill everyone you disagree with), then surely Iran with greater natural resources, a more educated and sophisticated population, better infrastructure blah, blah could manage it or have it (subtlety) managed for them. BUT WHAT IF THE REAL REGIME CHANGE FROM WITHIN GOAL IF CHINA AND SUDAN, IRAN, VENEZUELA ETC ARE THE REHEARSALS.?

        Liked by 13 people

    2. The Chinese are known to deliver poison via contact with skin … they did it last year … don’t let the TOUCH you President Trump, we love ya and you’re doing an AWESOME job here … we need this KAG/MAGA to continue ../

      God bless you sir, stay safe .. 🤨🤚❤️🇺🇸❤️‼️‼️‼️

      Liked by 14 people

  3. So, what happens if this war escalates? China could threaten the value of our currency by beginning to dump some of the $1.123 trillion in US government securities it holds.

    But there is flip side to this threat. What if we refuse to repay the Chinese? Or perhaps, said more in a more palatable manner, what if we demanded royalties for our stolen technology, and offset the payments we will be willing to make on Chinese debt with royalties owed for prior years?

    Now, I firmly believe that Alexander Hamilton’s decision to federalize the debts incurred by the colonies in the Revolutionary War and ensure they were all repaid, and similar sound financial decisions taken in the past have made huge contributions to our ability to create and hold wealth in the US.

    But the notion that we will never renege on our debts is being used against us. If you look at PDJT’s history with junk bond deals, everyone knows going into those deals that the stated rates are not likely to be the amounts ultimately paid out. Investors bet not that they are going to actually get stated rates, but that the investment is good enough that they will be repaid and will make an above average return. And everyone expects there will be renegotiations along the way once the project risks are resolved and the amounts to be made come into focus.

    I noted in a post yesterday that the 2008 US bailout of European banks through the issuance of almost $1 trillion in debt was a massive swindle that we were not really informed about. Why should we not look at this — in a manner similar to the way PDJT is viewing poorly negotiated trade deals — as a bad deal that needs to be redone.

    And, if we think about the changes necessary to move back to a gold backed dollar, we can’t get there with the debt structure we have currently.

    Food for thought, isn’t it?

    Liked by 21 people

    1. We sent China $700,000,000 in gold bars during WW2.
      They never repaid us.

      Momma wants her money back.
      Don’t laugh….
      Here’s my idea.

      Put the 1.1 trillion into “escrow”, and take the problem to the world court.
      USA could argue a strong case, but even if we LOSE we WIN…..
      We could tie up the money for at least 15yrs.
      …… and at 0-2% interest, who cares?

      Since Trump was elected, the Chinese have drawn DOWN over 500 BILLION in bonds. The bonds were their piggy bank, and they raided their piggy bank when their economy went into the toilet. They’re propping up their economy with OUR bonds – in effect.
      Well, cut off the piggy bank and let them squeal like real pigs.

      It’s time to play dirty……. and those who don’t have the stomach for it need to get the heck out of the way. We’ve never had a chance than with Trump.

      Buckle up.

      Liked by 29 people

      1. Yes. Toss the gold loan into the mix too.

        And let’s talk about the profits lost by dumping Chinese products into the US, and costs of factory shut downs, about the losses caused by Chinese currency manipulation, the costs imposed on our society by fentanyl, and costs, including the military lives lost and the remediation costs, due to substandard components that made their way into our weapons systems. And…

        We don’t owe them money; they owe us reparations.

        Liked by 19 people

        1. Now THERE’S reparations I can support!!!

          Or, to use a phrase from the good old days, Bill ’em Back…

          (years ago someone in the finance group where I worked wrote a brilliant version of ’twas the night before Christmas – in this case,

          ’twas the night before closing
          And all through accounting
          Not a creature was stirring
          And Hank B. was pouting
          .
          (snip).
          .
          “Credit Hold, Credit Hold,
          We’ll give them no rest”…
          .
          .(snip)

          The whole thing was brilliant. Never knew the number crunchers could be so funny 🙂
          L.R. went through the whole department, manglers and all, as well as some of the others
          (MIS, as they called us back then, did not escape unscathed)…. sigh…

          Would be ABSOLUTELY GREAT if we could eliminate income tax, etc., and go back to supporting the USA via tariffs…

          And, with punfire in the background,

          “I shot the tariff, but I did not shoot the GDP”…

          (dodges General Ledgers, dirty SOX reports, forced balances, and i )…

          Liked by 11 people

          1. “i” as in the square root of -1, the number that fixes ALL faulty transactions 🙂

            Kind of like multiplying by zero fixes dividing by zero 🙂

            Liked by 7 people

          2. Recall that Bob Newhart was working as an accountant in Chicago when his first record became a hit. I think he worked out those various phone call routines in one of those massive inhuman “bull pens” the CPA firms used to crowd the staff into.

            Liked by 12 people

              1. Yep.

                The most damning job description on earth.

                “Call Center Agent”.

                Brings to mind the old song,

                Secret Agent Man,
                Secret Agent Man,
                They’ve given me a number,
                And taken away my name…….

                And there are people who offed themselves because of the
                utter humiliation, degradation, and abuse to which they were subjected…

                Liked by 7 people

      2. Was that $700M then, or now?

        At $35 an ounce (the official price after Roosevelt stole our gold), that’d be 20 million ounces.

        At today’s prices, $700M in gold is half a million troy ounces (roughly–I’m using $1400/oz for my mental math, gold is somewhere in the neighborhood of $1500/oz).

        Liked by 1 person

        1. $1526.60
          That was 700 million in 1942.
          Historical rise of interest until Obama yrs was 7%. Let’s do the math. At 7% money doubles every 10.2yrs. (Law of 72)
          1942 = 700 Million
          1952 = 1.4 billion
          1962 = 2.8
          1972 = 5.6
          1982 = 11.2
          1992 = 22.4
          2002 = 44.8
          2012 = 89.4
          2022 = 178.8 billion
          Bu we went off a gold standard, so money is kind of meaningless.
          If gold was $35 (avoirdupois ounce) x 14.528
          = $508.48 for a pound of gold
          700 million / 508.48 = 1,376,651.982 lbs of gold
          Wow
          Today =
          1526.6 x 14.528 = $22,178.44 for a pound X 1,376,692lbs = $30,532,887,528.60

          We’re still only up to 30.5 billion
          Need more damages.

          Liked by 3 people

          1. As a side note, that’s the correct conversion between troy ounces and pounds avoirdupois, but there is also such a thing as a troy pound of twelve troy ounces; and (technically) that should be used when discussing gold.

            Of course, a lot of the world works in the metric system, and a kilogram of gold is somewhere in the neighborhood of 32.15 ounces (troy)

            Like

      1. China BOUGHT our USA hog farms!!!! 😡

        How China purchased a prime cut of America’s pork industry
        https://www.revealnews.org/article/how-china-purchased-a-prime-cut-of-americas-pork-industry/

        THANK YOU HILLARY AND OH!BUMMER‼️

        U.S. approves purchase of Smithfield — 09/06/2013
        https://www.politico.com/story/2013/09/us-china-smithfield-096399

        The U.S. government on Friday approved Shuanghui International Holding’s bid to buy iconic U.S. pork producer Smithfield Foods in what would be the biggest Chinese takeover of a U.S. company to date.

        The merger joins Smithfield, the world’s largest pork company, with China’s biggest pork producer, in a deal valued at about $7.1 billion, including debt.

        The companies said in a joint statement they had received permission from the Committee on Foreign Investment in the United States to complete the transaction, which was struck in May…..

        Liked by 10 people

        1. CIFIUS…..Where lot’s of evil happens……

          Still, right now, in China….they are having to exterminate local hog farms for Swine Flu…. How many of our Ports have been sold without the People’s knowledge? I know of at least 2…. We just stop little piggies from going to market somehow…….

          Liked by 10 people

        2. Forgive me, but I must add here that the farms are actually located on our soil. Not some place in the “nether” of financial/legal models. But. Right. Here.

          How long would it take to say, “No sir, no agree. We take back our land.” etc.

          Asking for a friend … 😉

          Liked by 7 people

        3. When that deal went through, I stopped buying Smithfield. There’s lots of other pork companies in our grocery stores who sell perfectly yummy ham and bacon.

          Liked by 7 people

          1. Like a local friend. 😁

            Now is the time to find out if there is a local food coop in your area. If I didn’t have direct access to cows, and pigs and chickens and eggs and cheese via friends and my own sheep and goats behind the house, I would belong to the coop in Raleigh NC

            Coops give you better quality food and the farmers much better prices. Thet help break the death grip (monospony) the Food Cartels have on our independent farmers.

            Liked by 4 people

          1. #1 in the World at growin soybeans,corn and just about everything else.
            Specially maters,we grow some the best maters in the world,I am fond of my Hillbilly maters,kinda hard to find but one of the best sammich maters there is.

            Liked by 2 people

              1. Fried taters in bacon fat with onions in em with some soupbeans and cornbread, damn I just got the munchies again.
                Night Michaelh.
                Oh shit I cant forget salad, now I really gotta go lol.

                Liked by 2 people

  4. I WANT THAT eagle killing the Dragon as a T-Shirt.

    I did ask the artist to consider it when Sundance first posted it but I lost the URL to his site.

    Liked by 13 people

    1. Remember the fellow who’d post cartoons at WUWT, GREAT cartoons? He had some sort of connection where you could order his cartoons as mugs, T-Shirts, or whatever (mousepads, etc.)…

      Would be great to see that as a mousepad…buy a bunch and send them to your (formerly) libtard friends…
      Probably gamers would LOVE that design. Get a bunch for COMICON…

      Liked by 5 people

      1. Just remembered, it’s Josh. At http://cartoonsbyjosh.co.uk . Great stuff! Plus a calendar, too…

        Also there’s a sobering article at WUWT about the bird choppers, by Willis (who also wrote about the Dominican Republic versus Haiti). https://wattsupwiththat.com/2019/08/21/explaining-wind-turbine-lethality
        (Pierre at NoTricksZone has a bunch of articles/data on that. Looks like Willis has been reading there).

        And, some really good news about Climate REALISM versus the CAGW Manniacs: Tim Ball has won the lawsuit foisted upon him by the “Manniac” Michael Mann. Infos at https://wattsupwiththat.com/2019/08/22/breaking-dr-tim-ball-wins-michaelemann-lawsuit-mann-has-to-pay .

        Little by little the tide is starting to turn…

        Liked by 10 people

          1. Oh, NO, I wouldn’t want Josh to do that, I hope it didn’t seem I was suggesting that. I only meant that he has a way of getting his designs onto mugs, T-Shirts and other stuff…3

            Liked by 4 people

            1. A lot of them use CafePress but there are TONS of printing companies. I have a brother in law that would LOVE for me to send him more ideas for shirts and tees – plus he wants me to help him set up a website for ecommerce orders. I haven’t tried to tackle it.

              Liked by 2 people

              1. If I can get my neighbor’s permission I want to use a photo I have for Trump campaigning.

                I have a great photo from fouth of July of the little neighbor girl sitting on my white pony. They are both all decked out in red, white and blue and standing in front of a little house (shed) also all decorated in red, white and blue.

                Liked by 2 people

        1. OH that is good to hear about Dr. Tim Ball. I hope he takes Mickey Mann to the CLEANERS! He and his wife really suffered through that whole mess.

          Liked by 5 people

          1. The latest posted on WUWT so far is the following: Hi Anthony

            Michael Mann’s case against me was dismissed this morning by the BC Supreme Court and they awarded me [court] costs.

            Tim Ball Wonder if they have any means of giving him five or so years of his life back…

            Liked by 4 people

    2. Gail….put it on a T-shirt yourself……I use Zazzle.com and Vistaprint.com………they both have better quality t-shirts than some of the others.

      If that image is signed by the Artist…..just make sure the Artist’s signature shows up on your shirt. No problems.

      Liked by 7 people

  5. This ramps up the incentive (as if it needed more incentive but every bit helps) to re-elect PDJT in 2020.

    I do worry a little that there are too many people (I’ve no clue how to quantify this group) who see all this winning and, as its continues into next year, they will believe those who nefariously predict “Trump, in a landslide” and will decide to stay home on election day.

    No, China is a long term problem and despite their perilous economic trends, they likely have strategized a way to survive through to 2021, banking on President Trump’s defeat in November ever next year. Heck, China doesn’t care about its citizens – they’re only chattel of the State to the Commies; useful labor; useful tools. But PDJT can bring them to their knees if/when he wins a second term.

    Those of us who fully support him must make the case that his re-election depends critically on voter turnout. Because it does.

    We need to make sure that neither we nor any of our friends and acquaintances who support President Trump do not fall into the trap of being seduced by all the winning into thinking “2020: Trump in a landslide.”
    It is by no means certain. But we can make it so.

    Liked by 17 people

    1. We need to tell people that it’s not enough to merely win the election. We need to CRUSH the Democrats in an epic landslide. We need to a send a message that America wholly rejects their Communist garbage. Deny the Left four years of crying about “muh popular vote.”

      Liked by 16 people

    2. Wear our MAGA and KAG hats, everyday. Trump stickers on our trucks, SUVS…

      A few weeks before the first primary, my Trump 2020 3×5 flag goes up on a another 20′ pole in the yard. (Appropriate location near Old Glory that flies 24/7.)

      Liked by 10 people

      1. Agreed – except I recommend magnetic “bumper stickers” for the car so that you can take them off when parking in sketchy deep blue areas. My vehicle was thoroughly keyed in 2016 so I learned that lesson the hard way

        Liked by 2 people

        1. Necessary, sadly to say.

          To be fully up front, Trump 2020 sticker always on my Ram and Jeep…except…the rare times I must drive into kaliforniastan.

          Then sticker comes off before I leave NV and is replaced when I get back to NV. Buy them five or six at a time on Amazon;-)

          Liked by 1 person

    3. IMO, there’s something different about DJT/POTUS and in the general populace’s mind, at least those who support him – they’re not going to be staying home – thinking he is going to win in a landslide, so why bother.

      1) Most Trump supporters have seen the knock down, drag out fight he has faced in his first term, so they’re going to make sure they get their vote in.

      2)There are the ones who were uncertain but went with him anyway, and they’ll make sure to keep the Dems out – because it was obvious in 2016 – they not only didn’t want Hillary – but they didn’t want the Democrats.

      3) People like to be associated with a winner – POTUS is a winner, and many will want to look back and say they voted for him.

      4) I don’t see blue collar Dems rushing to vote for the party of infanticide, and this certainly will be part of the 2020 election campaign – along with secured borders, and stopping illegal immigration.

      5) The Dems took the House in 2018, by foul means of course, but also because the shadow of the Russian investigation/Mueller Report was pushed 24/7. I hope Mueller gets exposed for the dirty work he did. Unseen had a great breakdown about our losses in 2018, and they weren’t near the catastrophe one might have expected – considering they threw everything and the kitchen sink against POTUS.

      6) Simply… because DJT is a President like no other, hard for me to quantify, but we’re living in a unique era – and his presidency won’t be forgotten.

      I agree, of course, about complacency concerns, but this President has kept the people engaged his entire first term, rather than having forgotten him, they’ll turn out and vote again in 2020. Hopefully he can drag some of the downticket races along with him to victory.

      Liked by 10 people

      1. I like your reasoning but there was no reason or legit excuse to not get to the polls last November and keep the House in Repub control for POTUS. I see that failure as a major indicator of voter apathy and misunderstandings of help he needed from voters. I hope that is not repeated next year.

        Liked by 4 people

        1. I think there was voter fatigue, and possibly disenchantment with candidates on our side. We certainly didn’t have the enthusiasm needed. I hope that won’t be the case in 2020 – POTUS stirs both sides up – the presidential ticket will be who is fired up the most – and I believe our side has added to their numbers, while the Dems have lost – despite their noisiness.

          Like

          1. I think there was a lot of voter fraud.

            EVERY SINGLE CLOSE RACE and even some that were frist declared for the Repub went to a democrat! Hopefully that is being quietly taken care of.

            Also I think President Trump actually wanted a DemonRat house.
            WHY?

            In the first two years he was FIGHTING WITH HIS OWN PARTY AND LOSING — This is a very bad look. If he has to fight with Congress it is best to fight against the Democrats and NOT the Republicans. He can not afford having the voting population thinking no matter WHO they put in office their wishes are ignored. link

            Look what is happening. The DemonRats can not get thru any of their idiotic bills but they sure are LOUDLY PROCLAIMING how Anti-American, Anti-Israel, and down right crazy they are.

            President Trump is a long range planner. He would lose the house IF it gave him:
            1. A Strong Senate that confirms JUDGES and cabinet picks (like Barr)
            2. GOT RID OF Lying Ryan
            3. GOT RID OF useless RINOs
            4. Energizes the base to VOTE in 2020.

            Like

  6. Don’t forget the Wall Street, dems, China and all the enemies of the us are and will be working with desperation to stop it.
    Question. 2 evenly matched dogs in a fight but ones chained up. Which one wins? The chained one. It can’t run. It wins or dies. China and Wall Street are the chained dog.

    Liked by 3 people

  7. War it is!

    Liked by 16 people

      1. Off topic but funny af
        Saul M. Montes-Bradley II @Debradelai
        Bolsonaro says NGOs are causing the wild fires in the Amazon.

        Libturds scream that is Capitalism doing it (I’m not shitting you)

        And here I was thinking it was heat, fuel and oxygen.

        Go figure.

        Liked by 8 people

            1. I knew a Sun Microsystems trainer who took great pride talking about how he used his Solaris system at home to control the network bandwidth his teenage daughter got each night. He’d start it in the morning with almost none, and give her more when she got her chores done, finally giving her enough to watch an episode of her favorite teenage angst show.

              His story of buying an external hard drive for her schoolwork and forcing her to learn ZFS bordered on the criminally insane 😉

              Liked by 3 people

    1. Oh my gosh! Can’t believe this is happening. Now, if the DOJ would just start their actions the avalanche will be unstoppable.
      Be safe, President Trump…these are ruthless killers you are dealing with.,.sadly in your own country.

      Liked by 4 people

  8. Wow, POTUS goes after Jay Powell.
    Here’s what I think: there WOULD BE NO Communist Chinese economic enemy of the United States EXCEPT FOR the Federal Reserve. This institution needs to be abolished — now. Has done nothing but wreak havoc on the United States economy since it was established by Woodrow Wilson in 1913, for all intents and purposes right after getting his feet into the Oval Office that March.

    Liked by 5 people

  9. Someone posted above….

    “So, what happens if this war escalates? China could threaten the value of our currency by beginning to dump some of the $1.123 trillion in US government securities it holds.”

    Here’s why that won’t happen.

    1. China has been DEVALUING (ie. manipulating) its currency LOWER vs. the US dollar to OFFSET the tariffs POTUS has placed on Chinese goods. A lower yuan makes Chinese imports cheaper, offsetting the tariffs places on them. A $10 widget remains at $10. This is why there has been no inflation in the US…US consumers are NOT paying for the tariffs in higher cost of goods, China is paying for them by cheapening the value of its currency. Moreover, it cannot continue to do so. Btw, have you even looked at the total amount of Chinese debt??? Why do you think the Chinese banks are failing??

    2. Dumping US Treasuries on the market would LOWER the value of the US dollar relative to other currencies, like the Chinese yaun, something that the Chinese do NOT want. In other words, China is STUCK with all those treasury bills and cannot sell them en masse without harming its trade position (and the value of the yaun) relative to the US and US dollar.

    3. Have you even watched the latest Tbill auctions?? Demand is so high the US is NOT having to place a rate premium on the bills in order to sell them. The world cannot get enough Tbills at present and every auction is
    over-subscribed. Put another way, China could dump treasuries on the open market and not only would they be snapped up in an instant by other buyers but doing so would only harm the Chinese (see #2).

    4. Borrow $100,000 from the bank and the bank owns you. Borrow $100,000,000,000.00 from the bank and you own the bank. We own China, economically speaking. Sure, they have all our debt, but it is worthless to them for all these reasons.

    5. China cannot harm us by dumping their treasury holding on the open market, they can only harm themselves and their trade position relative to the US.

    Like

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