All we need now is a massive man made natural disaster to strike to make it another great depression. Luckily there isn't any terrible climate related issue that's on the verge of causing a catastrophe or anything.
That, and good thing there isn't a new pandemic brewing in birds and livestock.
Thank god 80% of the bees we use to pollinate all our food didn't die this last month...
At least we don't have a measles outbreak and an anti-vaxxer in charge
We should consider ourselves lucky there isn't a genocide happening in the middle east with US backing.
The Kennedy's made their fortune shorting the US economy during the Great depression.
Everything Trump has done has been calculated. I'd be willing to bet my left testicle that his gambling most of his fortune on heavily leverages shorts. He's trying to create the greatest possible depression because that will make him the most amount of money.
He knows exactly when he will cut his bullshit so he will settle his short right before making the announcement. Then with all the money he essentially stole from the population he will then buy up large chunks of the economy (and so will his buddies).
Once capital is even more heavily controlled by the upper classes the only recourse left will be violent revolution. All speculation. But that's what I would be doing if I was trump trying to install a true autocracy.
The Federal Reserve now projects -3.7% GDP growth in Q1 2025. The 2008 recession was -2.6%, and covid was -2.2, for comparison.
Consider this too...Q1 ended on March 31st. They are predicting that drop before all this tariff shit got started.
Hell, Biden was president for 20 of the 90 days in that quarter.
So you're saying it's Bidens fault! /s
That... Doesn't seem good if I'm being totally honest
-3.7% so far.
Lol, if it's gonna happen, can it really get underway in the next 3 weeks?
The Australian Labor party could ride its credentials from the previous recession, which we basically came out of unscathed, into another term of government. Anything to avoid the Libs (the conservatives, confusingly for everyone else outside Australia).
Might be a bit of a stretch though, since we won't be able to sell as much raw materials to China as we did back then.
Anything to keep the Libs out of power, pls.
It's crazy that people thought Trump's plans were a good idea. Or that they still do, even now.
They predict -3.7% if yesterday was somehow the end of it, but we know it's not.
-3.7% would be a dream compared to what's actually likely.
Q1 runs from 1/1 - 3/31. Q2 will be worse if he doesn’t repeal the tariffs.
Do you have a source? Closest of what I can find is GDPNow https://www.atlantafed.org/cqer/research/gdpnow . But it is neither an official estimate nor from the federal reserve.
Even if Trump removes every tariff a recession is almost certainly coming. Short to longer term planning, hiring, building, etc will certainly slow down and that kind of things is widespread. People lose jobs, people don't get hired, people choose not to start a business or invest money in the USA, etc.
Trump is gonna try his best to make the best depression ever.
He heard "great depression" and took it as a challenge
Yuge Depression. Like sinkhole levels.
How was Thursday and Friday not a recession? I lost > 10% of my 401k in 2 days.
It took 4 years to get to where it was since I stopped contributing right after the 2020 panic. 4 years of happily let my money do what it should, BAM wiped out in 2 fucking days.
I’ve Lost 15% since this shitshow of president started fucking with things.
God this is bleak.
I'm not even in the US. This is a global recession.
"[Consumers] are not even going to the grocery store and paying more for vegetables because there's none available from Mexico, or going to Whole Foods, for example, and finding the big sections of fresh fruit are being shut down. They haven't really felt the full impact [yet], and they're already saying something isn't right," Bethune says.
It sounds like shit is going to get real, really quick. As in next week?
Trump isn't going to back down either - good or bad he always just doubles down. If Mexican producers stop selling to the US he's just going to go to war right?
As an aside, I had been wondering what the US gov is going to do with all that tariff revenue... but now it seems kinda clear that consumers will be buying a lot less stuff, so there will be less income tax revenue anyway.
It's 100% they are just too scared to say that
You can't say anything is 100% with a chaotic and erratic president. There's always a chance that Trump will undo everything next week and things will stabilise for a short while. That chance might be very low, but it effectively invalidates 100% prediction.
Not long until MAGAs call the stock market woke.
Alternate TRUTH market incoming
They already had indexes which avoided 'dei' companies.... Don't ask me how I know..
60% chance of recession, 40% chance of a depression. “The Greatest Depression”
A golden age is coming!
Even if things just to recover to where they started trumsk will claim it as a giant win.
Frustratingly true
Tremendous, really. Like nothing ever seen before.
When we are almost all living in shacks with nothing left MAGA will be telling us we are better off.
"I'm so glad things are going back to the way they should be!" -my hyper-republican boomer coworker, this afternoon
The people are just garbage. The worst kind of ignorant shit that plagues this country.
You gotta remember this was DECADES of conditioning. These people have been primed for this from birth. For this moment in time, when they could gleefully collapse anything positive remaining about being American.
Don't make excuses for idiocy. Many of us grew up in those same places with the same ideas you're talking about constantly thrown at us and we could see this for what it was long before now. Those people don't see it because they don't want to and that's not anyone's fault but theirs.
Sure, but there is also the true history of coordinated effort. A lot of people had a lot to gain by making sure a particular generation got brainwashed, and the rest of us are feeling the effects - if you think you're immune to propaganda, then it's already too late.
I'd love to see donvict, fElon, Lutnick, Thiel, Vance and especially Navarro forced to live in poverty for a while.
The blood is on gop hands and any billionaires backing him
If this is what it takes for republicans to never hold even so much as a broken toilet seat, well it sure does suck harder’n a black fucking hole… but it seems this is how we have to learn.
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