For comparison, there was a 6% drop in the market in early August, and the market closed the end of the month up 2.4%
Damn he’s so self aware /s
Every accusation is a confession.
Did trump just set the new speed run for a Republican ruining the economy after a Democrat fixed it?
To hear him and his apparatchiks tell it, he was handed a DISASTROUS economy and we can all expect it to take a while for little d to fix it?
As if we cannot see with our own eyes that the economy he was handed was outstanding and his tariffs are the cause of these crashes?
This stuff reads like it was issued from the Ministry of Truth in 1984…
When everyone is fearful be greedy…
I just do automatic investments in a diversified portfolio every month and forget about it. I’m young and in it for the long haul. If shit really hits the fan, none of it will matter anyway.
Sorry to anyone having to retire right now
Well two thirds or more of their portfolio should be in bond markets if they are close to retirement.
Self-fulfilling prophecy, not that the shortsighted goons who run hedge funds give a flying fuck.
Everyone here mentioning billionaires and missing the point that the Russian agent in charge is just doing his best to deliver any and all assets to Russia. Sanctions getting lifted just as the fire sale on American assets begins right before the civil unrest. If you’re a Russian dictator you could not have planned it better. Republicans are seriously the dumbest mother/sister fuckers on the planet. I can’t even believe how fucking stupid you’d have to be to hold “conservative views”. Like it does not compute how you can be that dumb
Like it does not compute how you can be that dumb
Easy, lack of education (or even actively detrimental ‘education’), courtesy of decades of Republican sabotage of the education system
But I thought Trump was going to make the economy great again /s 🤣
He’ll issue an executive order establishing that the market can only go up
Change to down color to green.
That’s how it works in China
He disbanded the US government agency that develops the annual GDP numbers. Guess how they’ll figure those out next year?
If you guessed “we’ll make some up that are higher than last year” then you’re spot on.
Making up figures/numbers … smh. Nineteen eighty-four gets more relevant by the day.
The numbers will go up. Nobody knew they could go up. It’s unheard of.
Remember, immigration is down by over 100%!
Signing those with his big-boy Sharpie is about al he knows about actually governing lol
I mean for the longest time it only has gone up… And that’s not sustainable
https://www.macrotrends.net/1319/dow-jones-100-year-historical-chart
If it’s representing value produced by a population, and that population is both growing in numbers and finding ways for each person to be more productive, it makes sense for the index to go up. The current drop in stock markets is not related to either population decline nor to some widespread productivity hit, meaning sustainability isn’t the problem at hand.
Ultimately, it’s a numerical abstraction. A number can always go up. It does not mean it’s materially better than the number from last year, just that the number is bigger. When inflation goes high but people’s investments do not, that indicates bad stuff.
If inflation and wages and investments and savings all go up consistently, it’s not necessarily unsustainable, it’s just quirky math.
Perfect time to buy
He will. But not for us.
iT BiDeN’S EcoNMY! /j
He didn’t tell us how bad it was, so we added tariffs on everything.
I think he’s doing this deliberately. Encourage people to sell, so his buddies can scoop up stocks at low prices.
it’s so much more than stocks. stocks are mostly vibes and short term get rich schemes for already wealthy people. they’re Pokemon cards for the finance class, creating almost nothing tangibly beneficial to society. hype and FUD in an endless cycle.
you can’t eat stocks. you can’t warm your house with stocks. you can’t manufacture solar panels with stocks.
real wealth, the serious fuck you Big Money, depends on the ownership and distribution of real resources: real estate, agricultural land, factories, pipelines, commerical buildings, capital infrastructure. these are what the ultra wealthy buy up during recessions and then charge rents and leases for everyone else to pay, forever. forget about owning land or a home, your kids can’t compete with someone paying cash on a 600k house or snatching up entire portfolios of hundreds of rentals in a single purchase.
bailouts and blank checks given out as PPP loans to “business owners” during Covid redistributed wealth from the taxpayers (government) into the hands of the wealthiest people in the world. they can then convert their Pokemon collections into real wealth generating resources. government bailouts to corporations become an engine for not just making the rich richer but the types of assets they then acquire using that money cements them at the top of the wealth generation food chain forever.
Trump 2.0 is engineering another massive redistribution, even bigger and more focused on real estate than before. he made his fake reputation on real estate. loyalist oligarchs who bank rolled dark maga will be handsomely rewarded with the newly emptied government office buildings and public lands.
and your kids and grandkids will be homeless.
I used “stocks” as shorthand. I agree with what you wrote.
yup, I’d buy apple or microsoft or nvidia because they are going down now but will go up certainly in 1 or 2 days or even weeks/months. Except tesla, this one will go down and down and down for days/weeks/months, tesla stock is super toxic, dump all of it.
I agree and I bought Nvidia. There will be a bounce up soon.
The problem is, nobody else knows how low the prices would be.
One of the things almost no one talks about is how the prices of luxuries has totally outstripped inflation.
In 1960, minimum wage was $1.00/hour, the average US home was $11,000.00 and a big night on the town was $20.00 for dinner and a show for two people, with drinks and car fare thrown in. Pizza and beer at home was $1.00. A ticket to the first Super Bowl was under $20.00.
This is intentional. The billionaires are salivating waiting in the wings to buy up as much as possible when the prices are low.
Billionaries just short the stocks and make tons on the way down as well.
Recession speed run.
Only if we’re on the any%, this is looking like a 100% run so more like ‘Depression’
This is going to be the second Great Depression.
It is going to impact the entire world.
Notable differences from the last Great Depression:
Many countries have many nuclear weapons.
Something like 6 billion more people exist.
Climate change is accelerating, and this will make food more expensive everywhere, as opposed to a regionalized Dust Bowl, as well as causing more frequent and more severe natural disasters basically everywhere… and the more time passes, the more expensive it will be to mitigate this.
Perhaps also worth noting:
Japan argued the US’s oil embargo on it as functionally a declaration of economic war.
History is replete with examples of embargoes and massive tariffs being considered a justification for escalating a trade war… to an actual war.
It’s crazy that with a tariff on energy, utilities and energy are up lmao.
Welcome to inelastic demand. They take a percentage of what they charge, and they have to charge more because of the tariffs, so they basically get to take more for free because you have to pay more for it, and you have no choice in the matter.
Heating costs are getting really wild. I am shocked to see a lot of people and even business moving to burning wood just due to the costs. Like wood burning used to be many times more expensive then almost any other heating method.
TBF, my partner and I take all of our paperboard and spam mail up to their parents house every other weekend, and it provides enough fuel for their wood furnace to keep the house warm for a few days.
Here in Canada its getting real weird due to a mix of shit companies and carbon tax with heating. Like when its -40 it costs me about $750 per month in natural gas bills, but the “cost” of the gas itself is about $50 of the bill.
The town I live in reduced the amount of heating gas used in town buildings by 40% but actually saw an increase in costs due to the way carbon tax works for municipalities (basically all costs no rebates). Its not good that pellet stoves (that are not good for the environment) have become cost effective just due to a lack of regulation. Waste oil is also now a commodity (used motor oil) for heating, even though its like wood burning something that I thought was a thing of the past.
Oil companies were the biggest contributions to the project 25
Economic downturns are WHAT REPUBLICANS DO 👏 crab cakes and football 👏
bUt doNaLd is a gREat bUSinESs mAN! /s
The people have spoken! Trump is so much better for the economy! /s
Damn the people are dumb as fuck
So. Fucking. Dumb.
Margin of error +/-52%.
Every time I see these two side by side I think of the smiler and the beast from transmetropolitan
“Small price to pay to own the libs!” the faithful cry as they slowly eat their daily ration (one egg and a slice of wonder bread)
Eggs? In this economy?!
“Shut up about the eggs”
- Donald Trump
I will never be able to read a sentence starting like that without Gabe yelling at andy as my inner voice
Haha yeah I hear it too. I still say that a lot when someone mentions the sun
Look at Mr Fancy over here eating a whole egg every day.
We should create a WallStreetBets Lemmy community here to discuss our possible trades.
