Ken Langone blasts Trump's tariffs: 'I don't understand the goddamn formula'

[Beachnutt]

GOP megadonor Ken Langone is latest billionaire to blast Trump’s tariffs

https://www.cnbc.com/2025/04/07/trump-tariffs-live-updates-stock-market-crypto.html

[VMA131Marine]

1. I understand the formula...

it’s just a stupid formula. It treats every country’s trade balance as a zero sum game, except the ones who import more from the U.S. than the export to it. Those countries get a 10% tariff that is mindlessly punitive.

[Meowmee]

2. My brother figured it out, but I can't remember what it is exactly

I will ask him when he comes back and post it back here.

[FHRRK]

8. The reply from VMA... above explains it

So the formula is to make everything equal, at all times.

Simple Mathematica function that ignores all other factors.

So an example would be a three generational family.

Grandma and Grandpa are retired with paid off mortgage.

Their only son had three kids, one married and out of the house, two other late teen kids at home.

Married kid has spouse and baby.

So obviously all have different income levels, different needs, different amount of debt.

The formula just assumes all three households spend/consume at same level.

So the grandparents utility usage should be the same as the others, regardless of house size, etc.

The US is 4 percent of population, consume 25% of the goods. How the hell can Canada with less population ever consume at our level. Even if they increased consumption to our per capita levels they still couldn’t match our levels.

Australia is even more glaring example. A population about equal to Southern California, we have a trade surplus with them, but trump still slapped the minimum 10 percent tariff on them.

So in the family example, that third generation family, if diapers and formula are imported, they would pay a 10% tariff.

No logic to the formula to consider population, wealth, etc.

[EarthFirst]

3. It's pretty simple to figure out...

…billionaires are getting fucked by orders of magnitude.

Had this only affected you and I; they wouldn’t concern themselves with any of this.

Am I reading the room correctly?

[malaise]

4. Neither does Slobby

Last edited Mon Apr 7, 2025, 08:21 PM - Edit history (1)

That is all

[Blues Heron]

5. Ken! you fool. Use your imagination, he is not on our side - does that clear it up? He is harming us on purpose moron

[Tootbsb]

6. lol.

[hatrack]

7. Hatrack blasts Langone's contributions: "I don't understand the goddamn rationale".

Last edited Mon Apr 7, 2025, 08:44 PM - Edit history (1)