Who knew that Tarriffs, a historically bad idea when used broadly and heavily, would be bad for an economy propped up by massive consumer debt and a stock market existing solely on speculation/over valuation?
Let’s cancel student loans too, that will own the libs!
It was worth a shot.
If the economy crashes, people won’t be able to pay their loans, which I sincerely hope will fuck up a billionaire or two.
No the government will bail them out with unlimited funds while we all lose our homes, jobs, healthcare and food security. Then the morbidly wealthy will come in and buy up the foreclosed houses, small businesses and force wages and benefits down.
At which point do we eat them? I’m hungry.
Hopefully soon
Stable genius working his special magic in advance of the Super Bigly Oligarchs’ Enormous Clearance Sale of resources & remnants of US governmental assets!!!
The National Parks sell off hits me in the gut.
Then occupy one of them.
Could you clarify your point?
You know what I find funny. The US fucking whinges about China nearly all the time. Yet they seek to become Insular and Autarkic. They make the same mistake the Qing Dynasty did.
Edit Addendum: The Qing dynasty, is often seen as prizing its material abundance and cultural legacy so highly that it sometimes failed to adapt to new challenges and technological advancements. This narrow focus is often cited as one of the factors that contributed to their eventual decline.
Equating the greatness or state of the nation with it’s wealth.
Exactly, those who think themselves perfect doom themselves.
We’re gonna get a shit ton of austerity here and then future children will learn about the Trump tariffs in school.
I just find it a little ironic that the genius voters that ushered in Reagan and neo-liberalism are the same voters that support Trump and his destruction of said neo-liberalism.
As foretold by the prophetical Team American: World Police
A couple of Trillion dollars here, a couple of Trillion dollars there. Pretty soon it will add up to real money.
“I’ll just put that with the other fire”
Valuation not value
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This is bad for us too. A cratering stock market slows down hiring which depresses wages and makes it harder to find work.
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Heya you are correct that the rest of the world is being dragged into it. The tarrifs for us (Australia) have a little silver lining though, our meat will be cheaper if what we exported to the US stays here and no alternative market is found so I am happy about that. The farmers will feel it but us Aussies are always happy to help bail the farmers out tbh, could be a good opportunity for us to create something similar to USAID and send some food where its needed. Who knows really, but its an opportunity for everyone except the US. So thanks for making every other nation (that was trading with the US) great again.
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I hope you call it AusAID, it’d be perfect
Well we did have AusAid, just got renamed to DFAT (Department Foreign Affairs and Trade), which do provide assistance to foreign nations but our scope is limited and as far as I could see we were not really buying any excess agricultural production to send off. I have to look into it because maybe we don’t or all of ours is absorbed into the Asian markets. But was thinking due to the US BS could be a good opportunity to still help our farmers while doing some good at the same time. Bang for our buck, when I saw the USAID doing it for their farmers before it was cut I thought its a great program that provides benefits across the board.
Yeah its a no brainer situation like paying farmers to fallow so your soil can heal
Oh it could definitely be beneficial to Americans, it could very well collapse the US which would probably spur on a post Imperial boom. Basically if the US collapses the inevitable economic reorganization could cause some areas to improve greatly.
Problem is that I suspect that you’d also have what would amount to a Crusader Khmer Rouge or two forming, upside is that’s what punitive campaigns are for. Also id prefer if the entire US didn’t turn into that.
I’d argue that’s reversing cause and effect. A cratering economy on Main Street often gets reflected as a crash on Wall Street.
Sometimes the outcomes diverge. One common analogy in finance circles is that the stock market is like a hyperactive puppy on a long leash being walked by a slow owner whose gradual movements trend in a particular direction while the puppy erratically moves back and forth near that owner. Maybe it’s some kind of hype or panic moving markets in a way that’s uncorrelated with the underlying economic activity. Or it’s a specific play on a specific type of financial instrument that has become untethered from a thing it used to be tightly wound up with. Many financial panics happen when correlations between things break down, and all the financial engineering in a particular type of product relied on a bad assumption so that it spreads to other financial products.
But in many cases, they move together because the people buying and selling stocks feel sentiment driven by actual economic fundamentals.
2 trillion, so far!
we’re in a recession right now. this is the beginning of one. people mass selling off their stocks to take money and that shakes all markets down the river is exactly a recession start. get ready folks.
As a guy with nothing, I really couldn’t give much less of a shit about retirement accounts and the ultra rich losing money. And I already make shit wages and live on almost nothing. The only thing that is going to really hurt is the continued hyperinflation.
Can’t see past your nose, can you?
Enlighten us oh great prophet.
Go slow so our little brains can understand.
I’ll take a stab at it:
- Local businesses will suffer across the board, might lead to this poor fella maybe loosing his already shit job.
-There won’t be another job for him to take (see first point).
-He makes shit money so he has nothing saved up.
-social nets and government help is being systematically wiped out.
-It’s the streets now, and for many others like him. Where does this lead? Massive uptick in crime, and a lot of crime everywhere. Everyone is fucked - those who currently care and those who currently don’t care.
Oh I can see it. I just don’t give a fuck.
Why is this comment getting downvoted, while Fingolfinz is getting upvoted in the same thread for saying the same thing…?
Entire year of gains lol
He did as he promised, financial liberation.
From the poor
As bad as this is, it can still get a lot worse. The market seems to be pricing in a high probability that Trump will reverse course. If the tariffs stay on for at least a few months, there will certainly be a recession, probably a depression, and possibly social unrest that will take decades to fully recover from.
When things really crash is when the rich will decide to pay their cash and start buying up shit, and then we will think the economy recovered but really all that happened is another wealth redistribution in the wrong direction
Maybe but it could crash anyways. JP Morgan tried to stabilize the stock market in 1929 by buying up stocks, but it collapsed anyways and led to the Great Depression.
It’s just utterly infuriating and miserable. This isn’t a Nelson-Ha-Ha.gif moment.
Ordinary Americans will suffer for this. People will lose their homes, their jobs, their lives. And ordinary people in other countries will suffer for it too - job losses for companies who majorly sell to the US are inevitable. Car companies in the UK (Landrover, Aston Martin, Jaguar, etc are already making noises about job-cutting).
And the vastly wealthy will benefit, as they always do, by picking up those bargain basement stocks which will, eventually, become valuable again. And it’s the plan. It’s always the plan. Transfer wealth from the many to the few. Brexit was a cash grab. Trump is a cash grab.
And the vastly wealthy will benefit, as they always do, by picking up those bargain basement stocks which will, eventually, become valuable again.
I don’t think that’s correct.
Imagine, if you will, an uptick in vandalism on Tesla Cybertrucks. Insurance companies notice and increase the price of insuring them. The used car market price for those vehicles goes down, with fewer people wanting to buy vehicles that are more expensive to insure and are more likely to be vandalized.
Is that price drop a dip that a savvy investor can take advantage of? Is there an investment case for buying used cybertrucks and then hoping that Elon’s stink fades? I don’t think so. The value of that thing has permanently decreased.
Look to American soybean farming. Trump put tariffs on China in 2018, and China retaliated with tariffs on soybeans, among other products. Brazil stepped in and started exporting a lot of soybeans to China, and maintained that market share even as the tariffs were canceled. Basically, American farmers never recovered. Buying up all that farmland for cheap wouldn’t have done anything because the new owners of that land can’t benefit from some kind of higher profits from that land.
Sometimes things drop in price because they just become less valuable. I think that’s what’s happening with American stocks right now, because the damage that is being done is hard to reverse.
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The same is true for fiat currency.
Anyone too dumb to know how stocks work probably thinks you’re talking about the car
Tell that to the people living on automatic withdrawals from their IRA accounts 🙄
Oh, so my 401k losing money isn’t real? Damn, that’s a relief.
Neither are money, but we’re still not a communist society so we still consider it one.
If you want stocks to not be important, phase out public companies.
Some stock have value because the company is profitable, solid and is making money. I am no investor but Coca Cola I would imagine fit the description.
O’Doyle rules!
