293
submitted 1 year ago by Mee@reddthat.com to c/news@lemmy.world

All three major U.S. stock indexes dropped sharply in Monday morning trading, with investors worried about the uncertainty of tariffs imposed by President Donald Trump on key trading partners and then his refusal to rule out the possibility of a U.S. recession in the coming months.

all 32 comments
sorted by: hot top controversial new old
[-] Zedd2000@discuss.tchncs.de 79 points 1 year ago

So he is purposely and knowingly causing a recession. How much money is he going to make on stock options and how much is enough?

[-] earphone843@sh.itjust.works 1 points 1 year ago

There's never enough for people like that. It's not so much having everything as it is not wanting others to have anything.

[-] tunetardis@lemmy.ca 67 points 1 year ago

He seems to have manufactured quite the crisis. Is this what he meant by bringing manufacturing back to America?

[-] Hylactor@sopuli.xyz 13 points 1 year ago
[-] Hubi@feddit.org 41 points 1 year ago

Imagine having a president who openly and willingly crashes the economy and still having almost half the voting population support his geriatric ass. Life must be tough for the sane Americans.

[-] 1984@lemmy.today 12 points 1 year ago

The patients are running the asylum over there.

[-] whaleiam@lemm.ee 7 points 1 year ago

Fucking exhausted by all the embarrassment.

[-] Mouselemming@sh.itjust.works 33 points 1 year ago

"... because we're bringing wealth back to America."

America already has wealth. Too much wealth and too much poverty. What America needs is more even distribution of funds/assets. Starting by ~~taxing~~ actually COLLECTING the correct percentage of taxes from people and companies hiding/hoarding their excess, and using it to help people with too little. And going on to restructure the tax brackets so excess wealth is recognized as the drag on the economy that it is. We already know billionaires and corporate monopolies don't create jobs or send money flowing, they stagnate the market and stifle productivity. They're never going to voluntarily change. So the IRS needs to be expanded, with a mandatory focus on the "whale" targets. Obviously not going to happen under the present oligarchy, but the present chaos makes it a good time for passionate progressive people to start campaigns for seats presently held by MAGAs and GOP suckups, DINOs and Dem weaklings.

[-] dzso@lemmy.world 3 points 1 year ago

Meanwhile DOGE just eliminated like 6000 the staff at the IRS who were supposed to be auditing rich people.

[-] Rentlar@lemmy.ca 2 points 1 year ago

Lutnick just forgot to add the word "disparity" after his "wealth".

[-] jsomae@lemmy.ml 24 points 1 year ago

Normally I'd be willing to give any head of state some amount of benefit of the doubt that the recession might have occurred regardless of their actions. But in this case, the cause is obvious.

[-] NovaOG@lemm.ee 21 points 1 year ago

Trump is basically manifesting a recession at this point. So easy and plain for all to see.

[-] lemmydividebyzero@reddthat.com 13 points 1 year ago

A huge recession... Tremendous... Greater than any recession of Biden or Obama...

[-] tal@lemmy.today 8 points 1 year ago* (last edited 1 year ago)

Commerce Secretary Howard Lutnick told NBC News over the weekend, "There's going to be no recession in America,”

Well, a recession is two consecutive quarters of declining GDP.

https://apnews.com/article/trump-gdp-economy-government-spending-lutnick-7414ba1bd441bd4bf64620bfd66923b2

The Trump administration may exclude government spending from GDP, obscuring the impact of DOGE cuts

WEST PALM BEACH, Fla. (AP) — Commerce Secretary Howard Lutnick said Sunday that government spending could be separated from gross domestic product reports, in response to questions about whether the spending cuts pushed by Elon Musk’s Department of Government Efficiency could possibly cause an economic downturn.

[-] OutlierBlue@lemmy.ca 8 points 1 year ago

a recession is two consecutive quarters of declining GDP

If he crashes it hard enough in the first quarter, it can't decline more in the second! He's a genius!

[-] werefreeatlast@lemmy.world 2 points 1 year ago

Almost there! Just a couple more days of trump says things and we'll be back to last year. Its still another almost 4 years of this dumb asshole. Is anyone gonna do anything?

this post was submitted on 10 Mar 2025
293 points (99.3% liked)

News

37418 readers
266 users here now

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 biased sources will be removed at the mods’ discretion. Supporting links can be added in comments or posted separately but not to the post body. Sources may be checked for reliability using Wikipedia, MBFC, AdFontes, GroundNews, etc.


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. Clickbait titles may be removed.


Posts which titles don’t match the source may be removed. If the site changed their headline, we may ask you to update the post title. Clickbait titles use hyperbolic language and do not accurately describe the article content. When necessary, post titles may be edited, clearly marked with [brackets], but may never be used to editorialize or comment on the content.


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, videos, blogs, press releases, or celebrity gossip will be allowed. All posts will be judged on a case-by-case basis. Mods may use discretion to pre-approve videos or press releases from highly credible sources that provide unique, newsworthy content not available or possible in another format.


7. No duplicate posts.


If an article has already been posted, it will be removed. Different articles reporting on the same subject are permitted. 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 or news aggregators.


All posts must link to original article sources. You may include archival links in the post description. News aggregators such as Yahoo, Google, Hacker News, etc. should be avoided in favor of the original source link. Newswire services such as AP, Reuters, or AFP, are frequently republished and may be shared from other credible sources.


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.

founded 2 years ago
MODERATORS