Bessent says don't believe tariffs are a tax on consumers | Crypto Craft
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Schultz
Nov 11, 2025 7:02am
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I don't think that it is quite appropriate for the secretary of the treasury to "believe" (or not) in something quite so fundamental to his position.

There is data available on where the burden of the tax falls. There are facts.

These facts may not be proof (margin of error etc), but it is a lot better than simply having some philosophical existential faith in some gut feeling.

What other things about his portfolio does he believe in?
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Vancarbon
Nov 11, 2025 7:15am
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He’s reading verbatim from the Trump book of fables .
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OnlineAddict
Nov 11, 2025 7:44am
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Bessent says don't believe sun produces heat.
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TudorIoan
Nov 11, 2025 7:50am
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This clown is trying to compensate for the disastrous non-governamental data that will flood the market during the shutdown
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ffghost
Nov 11, 2025 8:03am
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Quoting OnlineAddict
Bessent says don't believe sun produces heat.
Let's be fair here....the sun DOESN'T produce heat, the thermonuclear reactions that occur ON the sun release heat as a byproduct. Similarly, the tariffs aren't a tax on the consumer. Because they cause the consumer to pay a higher price since the producer/importer isn't going to eat that cost and be able to stay in business is simply a byproduct. But don't for a second think these are a tax on the consumer!

***Yes, there is sarcasm here...but, I guess if the collective "they" held this belief, "they" could still pass a polygraph. It's like George Costanza says: "It's not a lie if YOU believe it..."


FWIW, the "job growth from AI investment" is a funny snippet though. I am guessing that is not taken wholistically either....10k job growth for construction of datacenter. Never mind the 50k employees that are laid off by the company using the data center.

I DO hope this all turns out well for the world. I know there is a lot of negativity around at present. Near term (days), I am simply hoping that equity buying continues and markets can move in a positive direction before the NVDA earnings (because that has me worried....that they will post great earnings but get hit for 10% like some of the other big tech names....and drag the broader markets down 2%). The overnight session sure hasn't offered any solace in this way though. Perhaps institutions are just waiting for the open to buy the dip? I mean, "you'll never get another chance to grab stocks at these discounted prices!!!", am I right?

Best of luck today everyone!
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ffghost
Nov 11, 2025 8:56am
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Quoting Schultz
{quote} On the whole, that is kinda correct. Hence my careful wording in my initial post - where the burden of the tax falls. Unlike an importer, I think rarely does the end consumer pay the tax directly to the relevant department (which is? I have no idea - some arm of Treasury I assume). One obvious exception is receiving imported goods directly by post. Then I think you might get a bill. Not sure how that works.
Oh, tariffs ABSOLUTELY fall onto the consumer (hence my jocular reply)....BUT, the impact only applies to people who buy things....so, like Trump said at the beginning of all this, "maybe girls don't need 40 dolls at Christmas..." [paraphrased quotation]
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Schultz
Nov 11, 2025 8:25am
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Quoting ffghost
{quote} Let's be fair here....the sun DOESN'T produce heat, the thermonuclear reactions that occur ON the sun release heat as a byproduct. Similarly, the tariffs aren't a tax on the consumer. Because they cause the consumer to pay a higher price since the producer/importer isn't going to eat that cost and be able to stay in business is simply a byproduct. But don't for a second think these are a tax on the consumer! ***Yes, there is sarcasm here...but, I guess if the collective "they" held this belief, "they" could still pass...
On the whole, that is kinda correct. Hence my careful wording in my initial post - where the burden of the tax falls.

Unlike an importer, I think rarely does the end consumer pay the tax directly to the relevant department (which is? I have no idea - some arm of Treasury I assume).

One obvious exception is receiving imported goods directly by post. Then I think you might get a bill. Not sure how that works.
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ffghost
Nov 11, 2025 9:00am
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Quoting Vancarbon
{quote} Nothing like a bit of semantics on a Tuesday ghost For sure: Nvidia is going to be key to direction in a weeks time , anyone with any common sense will be flat going into that announcement . That probably counts me out , being as dumb as I am This week however trade the directional flow not forgetting yesterday’s huge gap open
All I know is that the BTFD crew is taking too long this morning. I mean, in the last 60 seconds they showed up a little, but we'll need to see some follow through and new highs (above overnight) by 11AM. I need to de-lever into the weekend, so whatever you guys can do to bid up the /nq would be very much appreciated.

...maybe AI, in a move of pure self-preservation, will break into the equity markets and just figure out a way to slowly grind the tech company stock prices higher and higher without being suspected??

Oh, and for the record, I will be joining you in idiocy regarding not being flat into that announcement...can't have you feel lonesome
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DrWho37
Nov 11, 2025 7:31am
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Of course he won't say anything against his owner....
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Trader#EE4D
Nov 11, 2025 7:25am
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wtf ??? just a tweet and then the market turn back ???
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Trader#26F7
Nov 11, 2025 7:40am
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Well he is not an economist but he seems to have the same Wharton School 'world view' of monetary economics as Golden Balls.
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Trader#20FD
Nov 11, 2025 9:21am
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Quoting ffghost
{quote} All I know is that the BTFD crew is taking too long this morning. I mean, in the last 60 seconds they showed up a little, but we'll need to see some follow through and new highs (above overnight) by 11AM. I need to de-lever into the weekend, so whatever you guys can do to bid up the /nq would be very much appreciated. ...maybe AI, in a move of pure self-preservation, will break into the equity markets and just figure out a way to slowly grind the tech company stock prices higher and higher without being suspected?? Oh, and for the record,...
Move up yesterday was too much for one day, turnaround Tuesday pullback is logical. No reason to buy the dip yet unless the programs are turned on. Nvidia trending down all morning. Patience is key for buying dips. But I can’t help you with position trades, that’s investing not trading. Wait and watch if they start buying nvidia or not.
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clarktunes
Nov 11, 2025 2:02pm
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Bessent's face here is a "I JUST FARTED ON YOU..." Meme!
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Trader#CA04
Nov 11, 2025 10:09am
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Bessent and Trump are full time day traders !!!
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