Members banned from this thread: Pragmatist and orangecat


Page 3 of 32 FirstFirst 1234513 ... LastLast
Results 21 to 30 of 317
Thanks Tree135Thanks

Thread: Meet the Press Tariff Report Very Questionable

  1. #21
    New Member rwb72's Avatar
    Joined
    Jun 2018
    Posts
    625
    Thanks
    69

    From
    Florida
    Quote Originally Posted by Dittohead not! View Post
    Where did you copy this bit of nonsense from?

    Prices are set by supply and demand. They are certainly not fixed, not in a capitalist economy. Whoever wrote this total BS does not understand economics.
    YOU don't understand it. What happens when you get all excited by a new cost ? (tariffs, minimum wage hike, whatever) So you foolishly raise your prices (which were set by SALES LEVELS aka "demand"), and well golly gee, your sales suddenly drop. And you're now making LESS money. I strongly suggest you don't ever open a business.

  2. #22
    New Member rwb72's Avatar
    Joined
    Jun 2018
    Posts
    625
    Thanks
    69

    From
    Florida
    Quote Originally Posted by BigLeRoy View Post
    When he refers to 'business income', it is not even clear whether he is talking about revenues or profits. There is, of course, a rather important difference. And when he is discussing firms that cannot raise their prices, it sounds like he is talking about firms in a hypothetical market structure of perfect competition, where the firms are, indeed, price-takers, and have no control over the market price, because each firm is only one of many small more or less identical firms, all producing identical products, with no firm having any kind of cost advantage over other firms. But such a market structure is almost purely hypothetical, rarely existing in the real world. Most firms have at least SOME control over their pricing, some degree of 'market power', because most firms try to distinguish their products from those of the competition: product differentiation. It is what advertising is all about....


    Look through college textbooks on microeconomics, and you will not find this mythical 'bell-shaped curve' of business income vs prices. I ought to know. I have about 50 introductory microeconomics textbooks in my personal library. The publishers used to send them to me for free, for me to review, and they would sometimes send me little $50 checks in the mail if I would review them and provide helpful little suggestions as to how the textbooks could be improved for clarity. It was a nice way to supplement my income. Shrug.
    Fool, I don't care if you have Million textbooks. All one need do is ask > Upon what criterea do you set a price of a product ? If it's anything other than sales level (ie. "demand"), then you don't know what the hell you're doing.
    And the bell shaped curve of price and income, is simply what generates that setting of that price by sales levels.

    You go ahead and watch tariffs being set, and then raise your prices above the market price of your product (determined by SALES) and you watch your sales (and YOUR INCOME, and YOUR PROFIT), plummet.

    When you crash, I might buy some of your leftover inventory (90% discount)

  3. #23
    New Member rwb72's Avatar
    Joined
    Jun 2018
    Posts
    625
    Thanks
    69

    From
    Florida
    Quote Originally Posted by BigLeRoy View Post
    The U.S. Chamber of Commerce has always leaned very strongly Republican......until Donald Trump came along. You should be asking yourself WHY.
    FALSE! And this is yet another example of your blatant ignorance. Since at least the 1970's, the US C of C has been in lockstep with Democrats on immigration, one of the top issues in America.

    How do I know ? I used to BE a Democrat back then, and even helped campaign for George McGovern in 1972. You don't know what the hell you're talking about. You've got a lot of energy here, and no knowledge behind it.

    https://www.theblaze.com/blog/2014/0...gration-policy

    https://www.breitbart.com/big-govern...n-immigration/
    Last edited by rwb72; 8th July 2018 at 07:30 PM.
    Thanks from orangecat

  4. #24
    Veteran Member Puzzling Evidence's Avatar
    Joined
    Mar 2015
    Posts
    21,851
    Thanks
    9432

    From
    Away from sharp objects>
    Quote Originally Posted by rwb72 View Post

    So as you raise your price, your income increases, UNTIL you reach a certain point where any further increases causes sales to drop (enough to cause lo$$es) This top turning point is the MARKET PRICE, which you sell your product at.

    So if the companies selling the products Chuck Todd showed on his show were to up the prices (ex $5800 more on imported cars), their sales would drop like a lead ball, which is why there is very little chance these price increases (scare talk ?), would ever happen.

    Sometimes, firms DO raise prices in response to some added cost. And guess what happens to them. Often they find themselves going out of business. It doesn't take a college degree in economics to own a business. It just take money, primarily.
    Here's the problem; something like gasoline that has a high profitability (on the sellers end) will not sell too fast if the price gets too high, but if the middleman (the government via the gas station) puts a tax on the item, what essentially happens is that the seller (OPEC) has to take the loss and lower their price so that sales do not stall.

    It doesn't always work out this way.

    Sometimes, if another buyer is available (India) then the buyer (the US) ends up being cut out of the loop, so this only works in a slow world economy or if there are no other buyers available.
    Last edited by Puzzling Evidence; 9th July 2018 at 04:24 AM.
    Thanks from EnigmaO01

  5. #25
    Veteran Member Puzzling Evidence's Avatar
    Joined
    Mar 2015
    Posts
    21,851
    Thanks
    9432

    From
    Away from sharp objects>
    Quote Originally Posted by rwb72 View Post
    FALSE! And this is yet another example of your blatant ignorance. Since at least the 1970's, the US C of C has been in lockstep with Democrats on immigration, one of the top issues in America.

    How do I know ? I used to BE a Democrat back then, and even helped campaign for George McGovern in 1972. You don't know what the hell you're talking about. You've got a lot of energy here, and no knowledge behind it.

    https://www.theblaze.com/blog/2014/0...gration-policy

    https://www.breitbart.com/big-govern...n-immigration/
    Democrats back then include George Wallace....just saying.
    Last edited by Puzzling Evidence; 9th July 2018 at 04:22 AM.
    Thanks from EnigmaO01 and Jets

  6. #26
    Veteran Member Southern Dad's Avatar
    Joined
    Feb 2015
    Posts
    37,804
    Thanks
    7753

    From
    Shady Dale, Georgia
    On one hand the left would have us believe that raising minimum wage to $15 per hour would have nominal effect on prices of goods and services, but a tariff would destroy the pricing?
    Thanks from orangecat and rwb72

  7. #27
    Veteran Member Puzzling Evidence's Avatar
    Joined
    Mar 2015
    Posts
    21,851
    Thanks
    9432

    From
    Away from sharp objects>
    Quote Originally Posted by rwb72 View Post
    Fool, I don't care if you have Million textbooks. All one need do is ask > Upon what criterea do you set a price of a product ? If it's anything other than sales level (ie. "demand"), then you don't know what the hell you're doing.
    And the bell shaped curve of price and income, is simply what generates that setting of that price by sales levels.

    You go ahead and watch tariffs being set, and then raise your prices above the market price of your product (determined by SALES) and you watch your sales (and YOUR INCOME, and YOUR PROFIT), plummet.

    When you crash, I might buy some of your leftover inventory (90% discount)
    Look, DUDE, you haven't been a member of this site long enough to be calling anyone here (certainly not a long-term poster) a "fool". Get a grip....

  8. #28
    Veteran Member EnigmaO01's Avatar
    Joined
    Mar 2010
    Posts
    18,248
    Thanks
    10120

    From
    Indiana
    Quote Originally Posted by Southern Dad View Post
    On one hand the left would have us believe that raising minimum wage to $15 per hour would have nominal effect on prices of goods and services, but a tariff would destroy the pricing?

    The minimum wage in 1968 was $1.60 which is over $12.00 per hour in today's dollars. I'll just leave it at that to show your ignorance and hyperbole about how unGodly high $15.00 per hour is.

    Here in Indiana most of the McDonald's workers are hispanics that will to work for a low minimum wage. Even then turn over is high. Was recently in vacation in Massachusetts and no minorities were working in McDonalds. Why? Minimum wage in Massachusetts is much higher. Go figure.

    And btw didn't notice much difference in their prices.
    Last edited by EnigmaO01; 9th July 2018 at 04:24 AM.

  9. #29
    Veteran Member Puzzling Evidence's Avatar
    Joined
    Mar 2015
    Posts
    21,851
    Thanks
    9432

    From
    Away from sharp objects>
    Quote Originally Posted by Southern Dad View Post
    On one hand the left would have us believe that raising minimum wage to $15 per hour would have nominal effect on prices of goods and services, but a tariff would destroy the pricing?
    To be honest, I don't know that the tariffs will do any harm and may, in fact, help us tremendously long term.

  10. #30
    Veteran Member EnigmaO01's Avatar
    Joined
    Mar 2010
    Posts
    18,248
    Thanks
    10120

    From
    Indiana
    Quote Originally Posted by Puzzling Evidence View Post
    Look, DUDE, you haven't been a member of this site long enough to be calling anyone here (certainly not a long-term poster) a "fool". Get a grip....
    The ones that do the name calling are...
    Thanks from Puzzling Evidence

Page 3 of 32 FirstFirst 1234513 ... LastLast

Similar Threads

  1. Replies: 9
    Last Post: 5th June 2017, 08:52 PM
  2. Meet The Press
    By Lilly in forum Current Events
    Replies: 42
    Last Post: 23rd December 2014, 06:52 AM
  3. Meet the Press
    By Czernobog in forum Current Events
    Replies: 43
    Last Post: 26th August 2012, 10:39 PM
  4. Biden on Meet the Press
    By justoneman in forum Political Discussion
    Replies: 20
    Last Post: 16th February 2010, 07:11 AM
  5. Meet the Press for Idiots
    By Luigi in forum Political Humor
    Replies: 2
    Last Post: 8th March 2007, 08:19 AM

Tags for this Thread


Facebook Twitter RSS Feed