American Economics Thread
- Thread starter Bernard
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US’ retail trade association National Retail Federation (NRF) has announced it is launching the second phase of a seven-figure advocacy campaign with broadcast, digital and out-of-home advertising, urging the Biden administration to repeal tariffs on goods from China to lower costs for businesses and consumers who are being severely impacted by inflation.
The ad campaign includes a 30-second television spot called ‘Lower Inflation Now by Repealing Tariffs’.
“No one is closer to the consumer than the retail industry, and retailers are doing everything they can to keep prices down despite the economic pressures of high inflation,” NRF president and CEO Matthew Shay said. “We began a grassroots effort months ago and are now expanding our efforts with an ad campaign because the urgency for action grows each day.”
“We encourage the administration to work with our trading partners, particularly China, to roll back tariffs that contribute to the high cost of goods and services and provide much-needed relief for American consumers,” Shay said. “Tariffs are among the many costs out of retailers’ control that drive up prices paid by consumers. But unlike other costs, the administration can eliminate tariffs with the stroke of a pen.”
NRF’s new ad campaign builds on the organisation’s advocacy efforts encouraging the administration to lower or eliminate tariffs that have cost US importers $136.5 billion since 2018 and cost the average American household more than $1,200 a year.
NRF is also urging Congress to address the nation’s labour shortage and supply chain crisis as additional concrete solutions to lower inflation, NRF said in a media release.
“While change takes time, repealing and lowering tariffs will help relieve pressure on American consumers,” Shay said. “We know this is only one of the solutions under consideration to rein in skyrocketing prices but we urge the administration to prioritize the repeal of tariffs.”
NRF’s Lower Inflation Now grassroots campaign began in April and has called on President Biden and Congress to make everyday necessities more affordable by repealing the China tariffs, easing the supply chain crisis by passing the Ocean Shipping Reform Act, addressing the labour shortage by enacting immigration reform and lowering the cost to process transactions by increasing competition in the payments system.
But first, the US has to worry about this quarter, which will end in two and a half week.
In 2022Q1, the GDP shrunk by 1.5%. Another negative growth quarter will put the US in recession now, not next year.
The latest forecast for 2022Q2 GDP by the Federal Reserve Bank of Atlanta is under 1% and trending downwards since mid May's +2.5%.
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What is this "lunch" in that picture anyway
They probably hired a prison caterer to do school catering too.
That is because the USA is fundamental a dumb nation that solves problems, not with brains but with lots of bombs. In fact if some one said, bomb a river for the north of the USA to the south of the USA, that could be classified as an improvement given that Brandon wanted to send 40 billion dollars to Ukraine which is going to be funneled back to them which makes them richer, but does nothing to solve the current problems in the USA. I wonder what is the point in the elites being so wealthy when the USA collapses into the dark ages, are they going to fly themselves away to a remote island in the pacific where China could just go and collect there assets without much resistance
Unironically yes, there's been a lot properties and bunker in New Zealand being bought and built by rich elites from all regions in the recent years because of climate projections claiming it to be least affected by climate change.