Entire year of gains lol
this post was submitted on 03 Apr 2025
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He did as he promised, financial liberation.
From the poor
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.
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.
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?
Do I remember correctly that trump was elected mainly on improving economy?
That's what they kept saying...
That's what I heard people said, but I suspect it was more the anti-immigrant, christian nationalist, white supremacist, misogynist not wanting to out themselves so they said things like the 'price of eggs' or 'the economy' instead of 'I'm scared of everything I don't understand like diversity and worker solidarity' or 'i don't want to be treated the way I treat minorities'.
I'm so glad that as a millennial I get to live through so many different historic times.../s
How many once in a lifetime economic events is this now?
Didnt your hobo turned ccc worker turned GI great grandpa have the coolest life. Your gen Z sibling gets a similar experience.
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?
O'Doyle rules!
$2T so far
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.
As an impoverished no body with nothing to lose in this country, I’ve just been laughing my ass off.
This is bad for us too. A cratering stock market slows down hiring which depresses wages and makes it harder to find work.
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.
If jobs need to get done, you'll be able to find positions to work in.
Don't be fooled into thinking we can't succeed unless rich people get theirs.
A recession is basically only those jobs hiring. Its the opposite of a bubble where because nobody has spare money nobody is spending so nobody is hiring and everything is undervalued. That's why the only solution to the great depression was to hire a ton of people to do something.
The stuff the ccc did was awesome, they preserved huge chunks of America's cultural heritage, made beautiful things, and made lots of natural beauty available to the masses. Go to any national park that existed at the time and you'll see it. But they existed to take the masses of itinerant labor and put them to work for reasonable wages. It kickstarted the economy, fed people and gave them money to send to their family, and ensured that skilled labor remained as such.
Straight up, that's probably going to be what this takes to get out of. A green new deal. Not the bullshit one we had proposed. Not the infrastructure act. No, hiring a fuck ton of young people to lay high speed rail lines and build solar and wind farms and battery facilities at wages that will let them reproduce and restart their local economies.
Only a government can do that. A company would pay market rates and expect a reasonable profit. A government can tax hoarded wealth, seize assets, and generally compel the behavior that gets you out of that mess.
If jobs need to get done, you'll be able to find positions to work in.
Yeah, agreed. No guarantees that they'll pay a wage you can survive on though, or that they won't cut corners on worker safety etc. There were lots of jobs during the industrial revolution but most were profoundly shit to the point they'd shorten workers' lives.
We live in a capitalist society (unfortunately). Rich people hoard their capital during recessions, which means fewer job openings. I graduated HS during the 2008 recession, and it took me 6 months of applying everywhere I could to get a temp job in a factory paying minimum wage (and no benefits or any job security at all, of course). It was literally hard to get a job at McDonald's or Wendy's. IIRC, it took nearly both of Obama's two terms for the job market to recover to what it was. So yeah, you may be able to find a job after a lot of hunting, but everyone's so desperate they'll accept anything. The way things are going with deregulation and all that, I wouldn't be surprised if company-towns make a comeback (which, incidentally, is kind of like the corporate city-states people like Peter Thiel, who worked with Musk and groomed JD Vance, openly talk about).
Yeah, it’s absolutely fucked. My laughter comes from a place of being glad that some faces got ripped to shreds by leopards and then also because it’s the only thing to keep my mind from totally fizzing out from this mountainous heap of daily shit we’re subjected to. And then the rest of the world is getting dragged into it so fuck. Just fuck.
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