this post was submitted on 28 Mar 2025
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US stocks were sharply lower Friday as investors digested souring consumer sentiment and inflation data that showed an uptick in one of the Federal Reserve’s key gauges, underscoring the delicate state of the economy as businesses brace for President Donald Trump’s tariffs.

The Dow tumbled 750 points, or 1.77%, on Friday. The broader S&P 500 fell 2.1% and the Nasdaq Composite slid 2.8%.

. . .

Wall Street was also grappling with Trump’s announcement on Wednesday of 25% tariffs on all cars shipped into the US, set to go into effect April 3. Trump also announced tariffs on car parts like engines and transmissions, set to take effect “no later than May 3,” according to the proclamation he signed.

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[–] [email protected] 8 points 1 day ago

Thanks Trump

[–] [email protected] 42 points 2 days ago (1 children)
[–] [email protected] 30 points 2 days ago (4 children)

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.

[–] [email protected] 6 points 1 day ago (1 children)

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.

[–] [email protected] 3 points 1 day ago

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.

[–] [email protected] 4 points 2 days ago

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.

[–] [email protected] 5 points 2 days ago (5 children)

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.

[–] [email protected] 1 points 1 day ago

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.

[–] [email protected] 1 points 1 day ago

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.

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[–] [email protected] 20 points 2 days ago

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.

[–] [email protected] 40 points 2 days ago (2 children)

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.

[–] [email protected] 30 points 2 days ago (1 children)

Fascism ultimately tanks any system because it prices loyalty above all else and you inevitably end up without any compitent people in charge.

[–] [email protected] 7 points 2 days ago* (last edited 2 days ago)

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.

[–] [email protected] 6 points 2 days ago (1 children)

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.

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[–] [email protected] 6 points 1 day ago (3 children)

Its almost like it can't forever be going up..

[–] [email protected] 6 points 1 day ago* (last edited 1 day ago)

Almost like someone actively causing instability with bad economic policy and stirring global political instability would cause it to go down.

[–] [email protected] 4 points 1 day ago* (last edited 1 day ago) (1 children)

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.

[–] [email protected] 5 points 1 day ago (1 children)

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!"

[–] [email protected] 1 points 1 day ago

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.

[–] [email protected] 2 points 1 day ago (1 children)

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!

[–] [email protected] 2 points 1 day ago

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.

[–] [email protected] 1 points 1 day ago

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.

[–] [email protected] 130 points 3 days ago (1 children)
[–] [email protected] 69 points 3 days ago (3 children)

Billionaires and corporations are absolutely winning, in the foreseeable future.

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[–] [email protected] 13 points 2 days ago (3 children)

Thanks trump. (if he can take credit for Biden's economy then he can take credit for his ineptitude too)

[–] [email protected] 29 points 2 days ago

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.

[–] [email protected] 7 points 2 days ago

The tarrifs are 100% donnie.

[–] [email protected] 2 points 1 day ago

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.

[–] [email protected] 11 points 2 days ago (1 children)

Wake me up when it's worse than 2022.

[–] [email protected] 2 points 1 day ago

Hope you like short naps

[–] [email protected] 98 points 3 days ago* (last edited 3 days ago) (2 children)

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"?

[–] [email protected] 40 points 3 days ago

I think that is what the main point is. Brace for extremely hard times.

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[–] [email protected] 16 points 2 days ago* (last edited 2 days ago) (2 children)

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.

[–] [email protected] 9 points 2 days ago* (last edited 2 days ago) (1 children)

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.

[–] [email protected] 3 points 1 day ago (1 children)

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.

[–] [email protected] 2 points 1 day ago

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.

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[–] [email protected] 12 points 2 days ago

Meanwhile, the CAC40...

[–] [email protected] 46 points 3 days ago* (last edited 3 days ago) (16 children)

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.

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[–] [email protected] 57 points 3 days ago (33 children)

Looks like I made the right choice pulling most of my 401k out of stock/blended funds and into stable bonds.

[–] [email protected] 92 points 3 days ago (3 children)

Looks like I made the right choice by not saving money at all and working until I die.

[–] [email protected] 71 points 3 days ago (5 children)

Looks like I picked the wrong week to quit sniffing glue

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[–] [email protected] 18 points 2 days ago (3 children)

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.

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[–] [email protected] 33 points 3 days ago (1 children)

wow, pandemic numbers without a pandemic. trump rules...!

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