Profile picture
Scott Lincicome @scottlincicome
, 9 tweets, 3 min read Read on Twitter
Quick thread:
So in the last few weeks, we've seen the #TNOIIECBAFTATPPAAFPDATW tariff t-shirt up and come to life 1/x
Tariffs not only impose immense economic costs... 2/
and (among many others) 3/
...But also fail to achieve their primary policy aims... 4/
And 5/
And (among many others) 6/
...And foster political dysfunction along the way. 7/
If only we had a way of knowing this would happen. If only there were a long and detailed history of America's protectionist failures. Or something. X/
(p.s. Shirts are still on sale here: amazon.com/s/ref=mh_bl_sl…)
Missing some Tweet in this thread?
You can try to force a refresh.

Like this thread? Get email updates or save it to PDF!

Subscribe to Scott Lincicome
Profile picture

Get real-time email alerts when new unrolls are available from this author!

This content may be removed anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

Related hashtags

#TNOIIECBAFTATPPAAFPDATW

More from @scottlincicome see all

Profile picture
Excellent, myth-shattering research from @sffed on American consumption & imports:
frbsf.org/economic-resea…
TL;DR: only ~11% of US consumption dollars are spent on imports (only ~2% from China); BUT abt HALF of these dollars go to US firms/workers & half of imports are inputs /1
More:
Fig 2: when Americans buy imports, the ones "made in CHINA" generate the most revenue (~56 cents for every dollar spent) for US firms/workers;
Fig 3: imports from NAFTA countries (esp Canada) are most often industrial inputs for US manufacturing /2
Also interesting: even for goods (which are more easily tradable) US consumers spend well under half of their dollars (42.4%) on imports.
(Note also the significant shares of US content in imports & vice versa) /3
Read 7 tweets
Profile picture
Except the vast majority of the consumer benefits of trade, referenced here, accrue to America's poor and middle class, not the "elites."
Meanwhile, subsequent research has shown significant benefits for US manufacturing from the "China shock", eg,
and

and
/2
Then there is the research showing that the rise of Chinese trade competitiveness was due less to US govt/elite action (eg PNTR) than to China's *own liberalization* /3
Read 10 tweets
Profile picture
Good thread on tariff incidence (though I'm not sure Trump gets this point at all). Also important: in the real world, a lot of things prevent a quick/easy shift in supply or change in import price - contracts, supply chains, consumer preferences, finite global supply, etc.
In Section 301 comments, for example, dozens of US firms noted that, bc of these factors, it'd take YEARS to switch import suppliers, even where adequate non-China supply exists. Others said that US demand outstripped non-China supplies & building new facilities wasn't realistic.
So there are a lot of practical impediments to shifting a tariff burden away from consumers, even where the textbooks say it should be easy.
Read 3 tweets

Related threads

Profile picture
THINGS YOU NEED TO KNOW ABOUT THE ELECTORAL BILL ,A VERY SHORT THREAD .
The amendment of the Electoral Act came into full swing during the first quarter of 2017 (Which in my opinion was very late),the National Assembly should have started this procedure on June 10th 2015 a day after they were sworn in.
Because in Nigeria a lot of elections hold outside the normal political window, so therefore electoral amendment procedure should have started immediately.
Read 42 tweets
Profile picture
I have been a die hard follower for two years! A true believer in Q and the white hat teachings. If I believe everything I can understand the need for time to clean up years of corruption but it doesn't explain why ANYONE who believes in @POTUS would hire anyone who is against
him. Over the last few weeks I have seen nothing that would make me feel as if anything is going to change. I have seen election after election overturned due to fraud and NO ONE is doing jack about it. I have watched people break law after law after law and NO ONE is doing
jack about it. There is only so much support a person can give when they see the corruption continue to grow instead of diminish. I know many will get mad at me, but so be it. The people who are supposedly going to be arrested for treason are going about their lives as if
Read 6 tweets
Profile picture
#THREAD

The Cosmic Movement's penetration of Indian Freedom Struggle, Politics, Education & Religion.

This thread focuses on advanced threat perception from this group. Although this is a vast network covering many areas we concentrate here on key players driving it forward.
This guy is Max Theon original name Louis-Maximilian Bimstein. He founded the Cosmic Movement. As we will see each and every member of this network prefers to hide their original name, identity and history.
Many prominent people were involved with this Cosmic Movement as we will see. One of them was Tomáš Masaryk (who became the first President of Czechoslovakia) also the Princess of Rohan in Vienna and many others. However this group was actually a spin-off of the OTO.
Read 44 tweets
Profile picture
Hey men, let’s chat. Have you noticed how basically every woman, non-binary, and queer person you know has been crying a lot lately, and/or has bees and knives falling out of their mouths and eyes, and/or has been unable to handle basic tasks at work or home?
Are you disgusted by watching the president of this country mock sexual assault survivors while a crowd cheers him on waving “Women for Trump” signs?
Are you angry that a Senate committee put out a statement divulging a rape survivor’s sexual history and using the imprimatur of the United States of America to call her a slut and a liar?

Cool, so let’s talk about what you can do:
Read 15 tweets
Profile picture
THREAD with thoughts on today’s #tariff announcement from the White House:
1) The statement’s tight focus on Section 301 concerns—intellectual property theft, forced tech transfer, etc—underscore that the Administration’s concerns extend beyond @POTUS’ initial focus on the trade deficit.
2) “Naming and shaming” is a key element the statement. The decision to hone in on MOFCOM’s unwillingness to provide *substantive* feedback on the Administration’s concerns is likely designed to beat back Chinese claims that they remain “open” to talks.
Read 12 tweets
Profile picture
#Thread
Tragically what the #CorruptGOP doesn't seem to get is that because they are not dealing in facts, & they are propagating falsehoods to their base, an entire generation of Republican voters, workers, apparachik's at every level; the U.S.A. loses ultimately. There are
People basing real decisions, at real jobs- both public & private sector-on false information. We have the most powerful military, biggest Economy, in the most industrialized nation in the world making Domestic & Foreign Policy based on fasle information.
This can & will end only one of two ways. Either we reverse course before catastrophic consequence or we experience what could be the most catastrophic multi-national event that has occurred since WW2 & the most grave consequences since our Nation's inception nearly 300 yrs ago.
Read 24 tweets

Trending hashtags

#Caen #ಅಮರುಕಶತಕ #Lyons #vote #environment #Revolution #manifesto #European #CorruptGOP #ಸರಣಿ #Samskrta #TrumpIsUnfit #Resisters #artists #ChampsElysées #EU #Nazi #UglyLittleTrumpling #ಪದ್ಯ #TPP #ಅಮರುಕ #spectacle #India #strongman #SaintMalo

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member and get exclusive features!

Premium member ($3.00/month or $30.00/year)

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!