Thanks Trump
News
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
Thanks trump.
The trump regime was designed to TANK the US economy so that stocks, businesses, and industries can be bought by billionaires at rock bottom prices.
All is going according to plan.
I have an acquaintance that works for an old money, very wealthy family from oil money. The kind that influences regional as well as national politics. He worked for them during the last major recession in the late ‘00s. He basically said that his employer and all their buddies were running all over the world buying everything they could “like it is a fire sale” during the recession.
So yeah. This is how we get more billionaires, more oligarchs, and more meta national corpo monopolies where one company controls multiple brand names.
The best we can do is to quit as soon as your company gets purchased. What they are after is the people. Specially the key role people.
Don't document your process. Fix things without opening change requests. That way if you assemble things the quality will drop when you leave.
If you're in a key role, just quit. Don't go fucking around by deleting data. It's better to make up data instead that seems real but is not. Never write an email that is personal or has anger in it because, even if you don't send it, it gets saved. Same for your teams messages. You want to stay in the industry, but just quit if your company gets taken over by a billionaire.
Yeah, almost seems like it. I am convinced they are at least doing something like the "Mar-a-Lago Accord" to devalue the dollar, unseat the USD as the global reserve currency, inflate debt away, and make wages low enough and people desperate enough so more manufacturing is viable in the US again.
Buy it with what? Billionaires don't hold money, their valuation is all in stock value.
I think you're giving them too much credit. Never attribute to malice that which can be explained by incompetence.
https://www.cbsnews.com/news/billionaire-wealth-covid-pandemic-12-trillion-jeff-bezos-wealth-tax/
Between March 18, 2020, and March 18, 2021, the wealth held by the world's billionaires jumped from $8.04 trillion to $12.39 trillion, according to the IPS' analysis of data from Forbes, Bloomberg and Wealth-X. Amazon.com founder Jeff Bezos, the world's wealthiest person, saw his fortune soar to $178 billion from $113 billion, or 57%, during that time, the study found. All told, the total wealth of the world's billionaire class grew 54% during the pandemic year, IPS reported.
Lol billionaires absolutely have cash too.
It's beneficial to keep most of it in stocks, sure, but they also get dividends, which can be used to buy more assets, or kept in waiting for a market downturn to buy even more assets.
I told my partner that we needed to stop excessive spending like going out to eat while the economy is so uncertain. She was ok with that. I'm not feeling great about our (collective) future. Sigh.
I find it deeply funny that fascism is completely compatible with capitalism (it's arguably its end-state), but they're still tanking the economy because Trump doesn't understand tariffs.
Fascism ultimately tanks any system because it prices loyalty above all else and you inevitably end up without any compitent people in charge.
Yeah, for sure, fascist regimes have a pretty short shelf-life in general because of cronyism and incompetence. I'm just saying there's nothing inherent to fascism that should be tanking the economy right now in the way, say, a communist revolution would by causing capital flight. If he wasn't pushing the worst, most unnecessary trade war in history, Trump could have a strong economy right now.
They understand tariffs. They want stock prices to tank so they can rake in on slashed prices. This is just more and more of the same wealth transfer in the past 45 years, just so in our faces that people don't want to believe it's happening.
Its almost like it can't forever be going up..
Almost like someone actively causing instability with bad economic policy and stirring global political instability would cause it to go down.
Except if you follow very basic economic policy and buy low/sell high a recession/major correction is just a buying opportunity. Think new game+ mode, now you extra stonks on your new playthrough.
Clarification: I'm talking about banks causing collapses as a way to consolidate. Not wallstreetbets shit.
Investor bros always pull this line out.
The stock market is more than 30 year olds who can put a extra 100k into it and wait.
A lot of people's 401ks are tied to this shit, jobs are tied to the market, investments are tied to the market.
It's a lot more complex than "buy the dip bro!"
Lol I'm not talking about you or i. I'm talking about JP Morgan. I'm talking about Wells Fargo. I'm talking about houses being foreclosed and taken as commercial revenue.
But... But line. Line go up.
Youre telling me that exploiting the workers, making life horrible and expensive for the middle and lower class while giving tax breaks to the ultra wealthy makes the line not go up?
B... But line. Line go up!
With all this hysteria going around it seems like the general population has forgotten how we live in the real world and where we came from, how we got here.
This is also called a buy phase
Buy low, sell high
Trumps policies are expected to pass costs on to consumers but have the benefit of maintaining production and development internally which should long term keep more money inside the USA, hardening supply lines against foreign influence. Given that China is openly campaigning for war on Taiwan by 2027 latest, and they're responsible for close to 80% of critical imports to US minerals, this puts the US in a predicament which Trump (probably not on purpose tbh, I won't give him the credit) is preparing for.
Tariffs on raw metals and minerals have proven effective since his first term with significant improvements in domestic refinement.
-"Tardif pass-through and implications for domestic markets: Evidence from US steel imports" Ahmad et al. (2023).
This isn't shared by other aspects of the supply network though like finished products or more complicated manufacturing because market instability halts investment in those areas, so no development actually increases in the US and prices just increase. This is a fatal flaw in the tariff calculus that is hurting trade and the economy. Manufacturing takes years to develop and adapt, and no one will leap on that kind of investment without clear assurances.
So much winning.
Billionaires and corporations are absolutely winning, in the foreseeable future.
Thanks trump. (if he can take credit for Biden's economy then he can take credit for his ineptitude too)
This isn't because of Bidens ineptitude though. This is entirely Trump's fault. Anyone with half a brain could predict this after attacking our allies and bringing up the tariffs.
The tarrifs are 100% donnie.
If he can take credit for the past admin, he can take credit for his failures.
He won't, Trump can do no wrong according to himself and his cult followers. Anything good is all him, anything bad is a nebulous thing he had no part of.
Wake me up when it's worse than 2022.
Hope you like short naps
We also believe the dynamic macro environment has contributed to a more cautious consumer
Am I getting this right? Is this double speak for "the government is fucking up so badly, people try to save some wealth for the inevitable fall of society"?
I think that is what the main point is. Brace for extremely hard times.
Personally, I am guessing that the American Dollar will end up like the Weimer Republic's currencies.
I am removing my life savings from the bank and turning them into Euros. Everyone's economy will dip, but I am pretty certain America will have a Greater Depression. Unlike the Great Depression or the Weimer Republic, the annihilation of government agencies and fiscal instruments is deliberate & total.
I've moved most of my savings to Gold since around 2010 partly because I was in the Finance Industry during the financial crash of 2008 and saw how the "fixes" done back then weren't at all fixing the problems, just kicking the ball forward on the backs of people whose income mainly comes from work (hence the growth of inequality, slow down in social mobility and insane various bubbles including realestate that kept on getting inflated for the last decade) something which has been fueling the growth of the far right (people are feeling the pain, getting pissed of and lots of money has been put by very rich people into political entities and the newsmedia to spread the idea that it's outsiders who are to blame for all this rather than very wealthy insiders plundering an economy which has ground down to a halt its growth, in collusion with local politicians).
I was also in the Tech Industry during the tech crash of 99, which probably made me even less trusting in the current system's long term stability.
Gold is a pretty old fashioned way to try and retain some value on one's savings, especially in countries where government management of the Economy and the local currency is pretty bad (in my own country of Portugal it used to be pretty popular to get it in the form of jewelry for that purpose, though not anymore, and it apparently still is in India and most of Asia including China).
(Basically, it's the "oh shit" option for when the Economic situation gets very bad and people fear the value of state issued currencies themselves won't hold)
I can tell you that even though Gold has been mostly just kept up with inflation for the last decade and a half (with an uptick when Russia invaded Ukrained), Donald Trump's actions really made the value of Gold in most currencies (especially USD) take off like a rocket, or in other words, that the value of most currencies is falling hard compared to what up to 71 was treated worldwide as the reference "currency".
IMHO, it's a pretty fucked up sign, especially for the US Dollar (which has the extra nasty bit that it stops being the World's Reserve Currency, all the benefits from it will unwind and if that happens fast - within a year or two - we might see shit like hyperinflation in the US).
PS: And if I may gloat a bit, I was living in Britain back when Brexit happened and did call it successfully and saved my savings by having most of them in Gold and Euros when Brexit crashed the British Pound by about 30% vs the Euro, something it never really recovered from. Maybe I was lucky but I remember that at the time and even before the Leave Referendum I felt that the Austerity in Britain was stretching the political environment in the country and that it wasn't a safe place to hold my savings, even though back then all my income was in GBP.
I was in the Finance Industry during the financial crash of 2008
I was also in the Tech Industry during the tech crash of 99
I was living in Britain back when Brexit happened
Your life reads like the lyrics of Sympathy for the Devil.
Well, I guess it's one way in which one can have "life experience".
Had I've been given a choice, I would have preferred other options.
Meanwhile, the CAC40...
11 weeks ago, '2023' was last year.
This isn't a slump yet. If Dougie shuts off the power to three states, I hope he does it during a break between the "oh no unregulated drinking water had maaaaaaaassive e.coli in it" diarrhea outbreak right when the softwood tariffs have cratered the toilet paper supply the worst.
At that point in time, expect a stark realization of the state of things to cause some sadness to leak into the market too. I predict three northern states fighting for black market TP and shitting prolifically in the dark to really affect the market. But probably, still, not his numbers.
Looks like I made the right choice pulling most of my 401k out of stock/blended funds and into stable bonds.
Looks like I made the right choice by not saving money at all and working until I die.
Honestly, kinda surprised it is only dropping this much. Would have though the collapse of the free world as we know it to have more of an impact.