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I wonder how close we are to Trump declaring that "no one knew" how complicated the economy is...
Pfft, never. He’s never apologized or admitted any wrongdoing as far as I’m aware. He’s too narcissistic for that.
He did say "Who knew Healthcare was so hard?" the first time around. That's what the person was harking to.
He had that two weeks plan though... That was in 2016...any day now
Well, Krasnov did admit food prices will be going up. He will probably blame that on Ukraine though.
Get ready. Conservatives who have boasted the economy doing well when the stock market ever went up are going to start telling you how the stock market isn't a metric for the true economy
You're not wrong but I don't know why we bother pointing this stuff out anymore. If there's anyone out there still expecting consistency from conservatives they aren't paying attention at all, which means they'll never see any post pointing out the inconsistency.
There's millions of young people who are just starting to pay attention. We continue to point out the hipocrasy for them. Lest their only point of reference come from the conservatives.
I suppose that's fair. It still bums me out though.
Doesn't matter. They immediately forgot the 2018 Trump slump, and the covid economic disaster he made worse. Republicans have been continuously proving how terrible they are for the economy for over half a century, and voters won't take a hint
He's doing this on purpose so the oligarchs can buy the dip and own even more.
Don't mistake malice for incompetence, or vice versa. Trump is often incompetent, especially in live interactions, his tariff game ain't it, it's part of all he's there for: self-enrichment.
He already called them on and back off once this term to do just that. Calling such moves idiocy instead of a plan to further drain wealth from the many to the pre-informed few plays right into it.
Yet another example of why the capital markets are the bane of human civilization in innumerable ways, undermining and sabotaging entire societies to accelerate short term growth/metastasis.
The capital markets will be destroyed either by the people out of self preservation, or by capital market made climate change after it doesn't matter anymore for humans. I take solace in knowing this con game won't last another century either way, as the tumor of unchecked human greed will destroy its own host if not cut out by force.
Oh, it's much worse than that.
All that park land sold to the wealthy.
USD becomes worthless.
Network states - city states of the rich.
Destroying the central banking system (not bad, but in this context will cause untold death and suffering)
Privatized everything.
Crypto.
The complete dismantling of american hegemony (not a bad thing, necessarily, but to do it by placating Putin is not the way) and financial dominance.
Complete and absolute surveillance. Always. In everything. (X app/starlink)
Christian dominionism. Not just nationalism.
The end of western society.
It's much worse than just markets.
It's Armageddon.
Don't mistake malice for incompetence, or vice versa.
I'd also add not to mistake inadvertence for planned action, or vice versa.
Let's not forget, this was the administration that named the wrong official as acting FBI director and, rather than fixing their mistake, just went with it and let that guy run things for a few weeks.
It could be that they want to tank the markets so that their people can buy things for cheap. But I also wouldn't trust their competence or planning to do it in a way that the cheap thing recovers in value.
People make the comparison to Crassus's fire brigade, where he'd buy homes on the cheap that were already on fire, then use the brigade to put the fire out. But imagine someone who tries to do this with an incompetent fire brigade, where they buy houses on fire and then fail to contain the fires, so that they end up losing even more. That analogy might be more on point with this administration.
I'm surprised any of these companies are actually onboard with his stupid ideas.. he's going to tank everything and make everyone starve and lose their housing. L..unless that's the plan to steal all property then sell it to putin
you got it. The rich are about to buy all the assets you need to sell to pay for eggs and then rent them back to you in perpetuity .
Crassus used to buy burning houses.
[H]e's going to tank everything and make everyone starve and lose their housing.
Not everyone.
Dead people make poor servants. You can't even boss them around.
They make great incentives to the living servants.
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Either Trump is an idiot, the voters are idiots, or everyone is an idiot. This may be a good time to plug
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The fun has only just begun.
Once they learn all the money goes toward corporate tax cuts?
Go ahead and sell, the only thing this hurts is the dollar as the reserve currency. Like social security we can run on its downfall.
I'm not an economist, but is this where we
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Lower interest rates to "help the economy"
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Normal people still can't afford things because we're in a recession
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Normal people start losing their homes
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Rich people have cheap loans to buy said homes due to interest rate drops
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Rich people rent out new homes to normal people for more than they were paying in mortgage, after normal people rebound or figure out how to make it work with two families in the home
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America is...great?
Hello, fellow millennial (probably). Wasn't it nice graduating college into that economy?
Sure was. After Pell Grant and whatnot, I only needed most of my subsidized loan to live on campus at a private four year college.
It feels weird to be old enough to watch us repeat that cycle but with more fascism this time. At least I learned to always live in fear and anxiety that everything could be lost in a moment, so now my emergency fund is decent.
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The Atlanta Federal Reserve GDPNow is estimating that Q1 GDP is -2.8%. Originally it was predicted to be +2%.
Get used to it. The US isn't just shooting itself in the foot, it's creating a ball pit full of mines and jumping in head first.
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The dow losing 600 points is barely 1.5%. We had a swing in 2015 that was over a thousand, and the stock market was fine. This will be news when it tumbles like 20% and we start seeing large sell offs and bank runs.
This is just initial reaction to an announcement. The tariffs aren't even implemented yet.
Right, but it’s also not an indicator of anything yet.
Yeah, but tarrifs are one of dozens if not hundreds of things that are going to be hurting the economy.
Youve already got tens of thousands of federal workers now unemployed, likely disruptions to Medicaid/snap/social security, tarrifs (and likely trade consequences of tarrifs), low consumer confidence, and it hasn't even been two months.
If anyone thinks this is going to be a good year for the markets, I'd love to know why. The only reason they might stay high is due to corporate benefits from the admin as the regular people suffer.
That's okay - he can fix it with tariffs on stock trading, tariffs on recession and extra tariffs on poverty, right? Because tariffs are a panacea for everything!
America, prepare to pay tariffs on your monumental stupidity - you thought it was bad now? Then hold on to your butts. The rest of the world will also suffer with you, but we won't have it nearly as bad as you guys...
The cool part is how this hurts people.
I really want it to fucking plummet. Americans need to feel this idiots damage
HE'S A RUSSIAN ASSET
Should've pulled out my money when I had the chance
And what did Donald Trump say should happen when the Dow Jones drops 1.000 points in two days?
Such a great idea Trump you are our glorious leader I am sure it will all work out great! or not.
I'm sure it will for his billionaire friends. Probably not so much for the rest of the country.
Fucking finally
Good thing egg prices are down!
The decision to turn my dollars into Euros becomes ever more sound.
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this post was submitted on 03 Mar 2025
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