I wouldn't be surprised if they announce a pause on the tariffs and then we found out them and their cronies were buying up stock that they made fall in value.
Hmm was it the concentration camps, or maybe the potential firing of federal workers?
Nah, it’s the tariffs.
Raises prices AND kills the stock market.
That’s a special kind of stupid.
Trump-musk are going to tank the stock market ! They are like the real estate vultures in 2009 waiting to pounce on the middle class who will lose their life savings! Where is the congressional leadership!
The stock markets are in a grift bubble. Watch the international bond markets and global US Treasury rates. The dollar is used as collateral for all huge transactions between countries. De-dollarization is in progress. This is our reward for years of economic warfare by the oligarchs, IMF & Swift.
I’m confused. On one had Trump wants tariffs to increase production in the US and lessen our reliance on imports. On the other hand he wants revenue from tariffs to replace the income tax. So theoretically over time tariff revenue would go down. How can we rely on that income?
Seems like a shift to fund everything with sales taxes. I can see them trying to say a tariff on the EU combats VAT exempt exports because imports are taxed by VAT. But that isn't the one they are even doing. The mexican and canadian ones are punitive, there seems to be no existing tax imbalance.
No way do rich members of Congress and other go for a national sales tax over an income tax. They don't pay income tax but will have to pay a sales tax
I doubt rich people pay will have to pay any new sales tax. They have the means to get around any tax they want. They do a great job dodging income and property taxes, I would not expect a sales tax to be much of a problem for them.
Bah 350pts ain’t 💩. I think people forget the multiple 1000pt drops across various indexes the last time he was in office. And under his watch, collectively the US stock market had the largest devaluation/retraction since the Great Recession.
Note... Move your money in an income fund asap. Lock-in the historic Biden gains. The uncertainty from day to day will drive ya nuts regarding 401k fluctuations. Plus if a mass of antifa does, it would crash the economy and bring these capitalist fascist to their knees.
From Gemini:
If everyone took their money out of the market and put it in an income government securities fund, it would have a significant impact on the financial system. Here are some potential consequences:
Stock Market Crash:
* Reduced Funding: Companies rely on the stock market to raise capital for expansion and operations. A mass exodus would severely limit their ability to access funding, potentially hindering growth and innovation.
He's an f'ing moron & while not every American who voted for him realized that, the vast majority of GOP legislators & the Wall Street & tech bros most certainly did. They support & defend him anyway because they think they will benefit them & they're all chickenshit & don't want to cross him.
The GOP has wanted to impose a 'value added tax' (VAT) for years. This is their back door approach to implement VAT and further cut income taxes for the rich. The middle class and poor will bear the burden of the tariffs.
Non-joke answer: It's basically an average of thirty major businesses listed on US stock exchanges. There's more to it than that, but it's used as a rough indicator for how the US stock market is doing, along with other indexes like the Nasdaq and S&P 500.
OK they're great news for the EU and the UK who are going to be able to vastly improve trade with Mexico and Canada not the US who will lose out but they're great news for someone.
I’m in the UK and thus creating stronger trading between us and the EU (after we collectively decided to stab ourselves in the face with Brexit) is great news. I’ve seen more cooperation between us in the past 2 weeks than I have in years!
However I must confess as an Irishman that understanding why the British in 2016, and now the Americans in 2024, have decided to apply economic sanctions to themselves requires a level of stupidity I'm not even going to try to acheive.
Agreed. I'm convinced that the impending US trade wars created an added incentive for the EU and Mercosur to reach a trade agreement in December 2024. We should expect more cooperation between Canada and the EU as well.
Trump WH to Canada, China and Mexico: "Just say you're doing something--you don't have to actually do it, just SAY it--and we'll stop the tariffs. Just give Team Trump a win they can sell!! C'mon!!! Pleeeeease!!!"
Indicative of the real welfare queens and terrorists you need to worry about, not someone from another country, they're right in your backyard, running multi-billion dollar corporations, and holding office.
Your oppression is their profession
Thank you. The rich have so much money now these graphs are probably meaningless. They can survive and profit off any "crash." Until the 1% start jumping off tall buildings, who cares?
The answer is before you Trump supporters. Sending me private messages saying I should be exterminated, and you would "be happy to bury my ass" because I disagree with you wanting to strip people of citizenship who were born here. YOU are the problem, not us.
The signal to noise ratio is super low at this point, the effect size is too small too early. Please, let's wait to see what happens, I know the stock market is particularly stochastic. It certainly hasn't dropped very much straight away.
If you want to know what’s gonna happen, I recommend you research the DOW in 2018, which was in the red for the year because of his previous failed trade war.
Well since you’re the guy who “doesn’t know much about the US economy” I get that you don’t understand the cause & effect that tarriffs have on the markets
The original skeet is not really cherry-picking, it's just an error of scale. Classic misleading use of graphs, tho likely unintentional/naive. By zooming out, you can see better the variance & actual size of the 'crash' so far.
Slightly smiling watching all the finance bros who said Trump wasn't serious about tariffs take a beating knowing full well my 401K is going to have a chunk taken out of it.
To all those who decided that he was best thing for the economy how ya feeling about that now? He’s such a great guy(NOT) and a shrewd businessman (bankruptcy)and he’s gonna fix the economy! How’s that working out for ya?
So true. A relative in southern AZ works with Mexican immigrants who happily said they were voting for Trump because he’s such a good businessman. 🙄
Translation: not voting for a woman, especially a non-white woman.
Do you put it past him to do some insider trading crap? I put nothing past him. I can see him wanting to crash the market, but letting his buddies know ahead of time, so we are all dependent on the mother******
Maybe that's why the market only 300+points today and the majority of Trump's BS started after that and the banks (for the most part) had closed for the weekend.
I’m not sure what you’re saying but the market was up over 300 points when Leavitt stated they they were starting the tariffs today. That’s when the market took a 700 point downturn and ended up down 337 points. It was because he opened his pie hole.
These tariffs are certainly going to be disastrous for regular Americans (and Mexicans and Canadians) but let’s be honest with the scale here. Currently this is a change of 6 tenths of one percent. We don’t need hyperbole. We need to educate people so they understand things without exaggeration.
I get the point but looking for inflection points in hourly market data is a bit absurd. Not arguing that it might not be true, just that we are going to need a longer time period to point to this data in making the case. So the scale of both axes need to be broader for it to support the thesis.
You aint seen nothing yet, America. Out Toronto Stock Exchange are still as healthy as it was. Not sure about yours, America, esp, in the next coming weeks, months and years. Good luck! We are all laughing at your own mistakes.
So do we, and the entire world dont give a fucking fuck about what's gonna happen to you dumb stupid Americans voting for stupids, morons, felons, prob like you. hahahaha FUCK YOU!
This happened once when Donald Trump was president. The stock market crashed because of Covid. It was propped up to prevent a disaster like right now too. We cannot let Donald Trump implement any illegal taxes.
So the guy that got voted in because he would be better with the economy has managed to tank said economy (which was booming) in less than 2 weeks? Good call!
At this rate, Haiti is going to fair better than the U.S. by year's end. I wonder if one of those so called “Shithole” countries as named by Donald Trump, the Felon of the United States would be willing to give the U.S. that moniker.
We're already referring to the States as a shit hole since their election results came in. They might plaster us on Lucky charms and claim we're all twee alcoholics, but at least in the face of imperialism we demonstrate the appropriate level of ultraviolence.
I live in Mexico, I buy imported goods from the US. The tariffs imposed today will only lead to Mexico reciprocating with a 25% tariff of their own on the states. This will result in a boycott of American goods, only to be replaced with Mexican made goods. This will hurt American businesses.
I can't even tell you how many times I heard people say oh well he doesn't mean that. Why vote for somebody when you can't tell if he's serious about something or not? In essence, they're saying they don't believe what he says until he says something they want to believe. How's that working out?
We believed he would attempt to do what he's trying to do. We also belive in the checks and balances of our system / government which at this moment in time appears to be more fragile than thought. We'll have to wait out the weekend and hope the courts will put things straight.
It's crash and burn time and I'm lighting my cigar with the unpaid mortgages of Trump’s supporters. Go ahead and judge me if you want. My conscience is clear. I fought for Harris. Did you? Gonna go light my cigar now.
Do maga’s even know what is happening and If so do they believe it? Will they just find out when they can’t pay their mortgage or they lose Medicaid , Medicare or snap? They just blame Biden or Obama like trump just did with the crash.
I agree! Knew this would happen quickly! Why are people surprised? Did they really think he was not going to destroy America? Was it all to own the libs?
The only people that are surprised are the ones that didn't pay attention. It was more important to believe that shit stain would immediately fix the economy, that he started to fuck up on his way out, then to give Harris a chance to follow through with Biden's plan that was working.
Same. It’s FAFO season, and it’s hard to care at this point. People were warned, and yet still let it happen or sat out. My condolences to the rest of you who didn’t vote for this.
I agree the tariffs are awful and destructive. But fake graphs like this don't help. The drop looks big because of the extreme truncated y-axis. What is here is not an extreme drop. There's are often changes of this magnitude. Maybe Monday. But this tells nothing.
what a sickening thought that this is all going exactly according to his plan. he’s going after the blackrocks & vanguards b/c they are woke? meanwhile it’s our $, or was going to be one day, however small.
As an American, I support Canada defending its sovereignty. If this is how they have to get the corporate billionaires to back away from FELON/fElon and their stupid tariffs, then they should absolutely do it. There doesn’t seem to be much we can do from inside.
I was beginning to think the stock market was made up numbers these days.
Can no one see that the goal of this admin is to crash the economy like they told us they would?
When I chided acquaintances who were Trump supporters in November about tariffs - to a one, if they responded at all, they were *convinced* tariffs were only a "bargaining tactic" - and that he wouldn't be able to put tariffs on Mexico or Canada thanks to USMCA.
yeah. The market had just assumed it was just more BS from the Master of BS. Now, they are getting an inkling that his senility may have actually crossed the event horizon and that his feral instinct of self-preservation is no longer capable of escaping the black hole of his insanity.
That’s on the Dems. They failed, not the voters. Maybe don’t support genocide and stop trying to reach across the aisle to Republicans who will never vote for a Democrat. They lost on their own, and they deserved to.
Yes! Call out the non voters! The ones too stupid to think about casting a vote! Insane idiots that are watching and complaining: SHUT YOUR Mouths! Just put on MAGA gear! You screwed us/US just as badly!
Oh, trust me, my close followers know that I have reamed a lot of non-voters out. I hold special hatred for them too. Especially the ones that decided to protest. Such fools.
I’m disappointed that we didn’t have four more years to try and stop circling the drain, but ultimately it was Democrats who led us to this precipice through sheer refusal to uphold progressive values.
I disagree, you live in a democracy and is your responsibility to vote. By non-voting, you turn over the country to demagogues like we are doing right now. I think it’s should be a law that people vote. If you wanna live in a dictatorship, move to another country. I think you should leave.
The state of our country is absolutely not the fault of Democrats. Not voting ones anyway. It is our duty to vote. Especially when those who came before us fought so hard to get the vote.
No clue. He just had to destroy everything and everybody that he thought "wronged" him. Biggest asshat on the planet. Makes me want to cry because I see no hope from democrats and no help from justice department. Muskrat wants all the money that belongs to the Smerican people. How do you fight that?
Comments
It's like betting on a roulette wheel.
My retirement clock:
I've been following meme stocks long enough to know when my 401k is going on sale. 💎✋💎✋
After a week of tarrifs, the DOW is gonna fall under 40K and we're gonna be in the fastest recession in 100 years
Where is a heart attack when you need one?
Nah, it’s the tariffs.
Raises prices AND kills the stock market.
That’s a special kind of stupid.
Piss.
If everyone took their money out of the market and put it in an income government securities fund, it would have a significant impact on the financial system. Here are some potential consequences:
Stock Market Crash:
OK they're great news for the EU and the UK who are going to be able to vastly improve trade with Mexico and Canada not the US who will lose out but they're great news for someone.
It's just not Americans.
However I must confess as an Irishman that understanding why the British in 2016, and now the Americans in 2024, have decided to apply economic sanctions to themselves requires a level of stupidity I'm not even going to try to acheive.
Not sure where the UK stands, though.
Thank you for having some common sense and honesty! 👍
Your oppression is their profession
Actual dishonest cherry-picking: https://skepticalscience.com/cherrypicking-guide.html
Translation: not voting for a woman, especially a non-white woman.
If Congress has a problem with it, they're actually not allowed to investigate him.
Essentially he is a king and can do anything he can convince the world to go along with. 12 year old boy king
Those tariffs are gonna cost people $1,600-$7,600 YEARLY. Food will be even more expensive.
To put it diplomatically: Your economy is gonna be fucked.
The opposition to Trump is silent...
'costs are going to rise on a number of goods everyday Americans rely on.... assuming the White House does not issue any exemptions, here are all the goods that will be impacted'
See photo.
https://aaronparnas.substack.com/p/breaking-the-white-house-will-impose?utm_campaign=post&triedRedirect=true
https://www.wsj.com/opinion/donald-trump-tariffs-25-percent-mexico-canada-trade-economy-84476fb2
Just gonna sit back and watch
https://images.app.goo.gl/PeM8AxeLo6Nn1YAw6
https://www.foxnews.com
As to how often, consult a Dow daily chart.
Can no one see that the goal of this admin is to crash the economy like they told us they would?
I’m disappointed that we didn’t have four more years to try and stop circling the drain, but ultimately it was Democrats who led us to this precipice through sheer refusal to uphold progressive values.
If everything is for sale, no one is safe.
The word “idiot” is a eugenicist’s justification for forcibly sterilizing the disabled. We do not need to pick up the enemy’s weapons.
I think I’m good. If you weren’t hiding behind a screen I’d clock you in the fucking mouth.
The
Streets
They will make money while we all suffer terribly.
The end my friend,,
The end,,