The only thing I'm happy about today is that crypto is totally eating shit right along with equities. So much for it being a refuge in such times.
It does look like a recession is kind of inevitable right now. I do wonder if it's possible we come out of it before the next general election (2028). That would be a recession of extra-long duration, vying with the 2008 Great Recession. This vying with the Great Depression does seem unlikely because that lasted from 1929 to WW II.God I hate this stupid country. Already considered US citizenship a curse from birth back when Biden was president but now it feels like an early death sentence since we're surely going into another Great Depression.
I don't really think it's a tax or a trade war - I think it's an attempt to set up a patronage scheme where he raises or lowers tariffs based on how much you do what he wants.You give Trump way too much benefit of the doubt when you treat this as a trade war rather than a massive socialized tax. His explanations are stupid because they're some bullshit he makes up to pretend this isn't just a tax hike on all of us.
Recessions are inevitable when the GOP gets into power since they cut government spending to fund tax breaks for the oligarchs but this is on a scale way larger than we have seen before plus they're combined with tariffs that are much higher than the Smoot-Hawley tariffs that devastated the nation, so I'm expecting Great Depression 2.0. After 25 years of massive inflation in medical and educational costs and 5 years of massive inflation on home prices and groceries cheap consumer goods were all the US had going for it, and now those will be hit by 54% tariffs. This is going to be such a clusterfuck.It does look like a recession is kind of inevitable right now. I do wonder if it's possible we come out of it before the next general election (2028). That would be a recession of extra-long duration, vying with the 2008 Great Recession. This vying with the Great Depression does seem unlikely because that lasted from 1929 to WW II.
Could see that tooI don't really think it's a tax or a trade war - I think it's an attempt to set up a patronage scheme where he raises or lowers tariffs based on how much you do what he wants.
Leopards and faces something somethingI do not understand what's going on. Before today the S&P 500 had 3 up days in a row, white candles. What were people thinking? It was common knowledge that tariffs were "scheduled" to be levied yesterday. Why April 2 instead of April 1? My thought FWIW is that Trump didn't want his actions to be declared to be that of an April fool (which, of course, he will be for the whole month). He waited for the US stock markets to close before making the announcements yesterday. World wide stock markets plunged, the American ones followed suit today. Why didn't investors see this coming?
Can't help but wonder if high-rolling day traders don't have major influence on the maniac-in-chief and get insider info concerning what's about to happen on a daily basis.bers poised to finally have a win
I think you seriously underestimate how many psychotic things he says. There are lots of insane ones he doesn't follow through on.Whenever Trump threatens to do something psychotic he follows through. Wonder how long it's going to be before we have boots on the ground in Greenland, Mexico, and Iran.
better said... "All your base are belong to RUS"
Well, maybe not the bulk but I heard that he's hired a lot of billionaires for cabinet positions. There are billionaires and there are BILLIONAIRES! Nobody needs a billion dollars, people.I wouldn’t be surprised if the bulk of short positions are held by the President’s own cabinet.
I'm laughing here but it is so insane.
The President used AI to formulate a tariff policy that has Global Repercussions and is crashing our Economy.
This is our government.
My 1997 Japanese sedan, which I seldom drive (1000mi/year ballpark, 36k total) had check engine light come on in December. Brought to a recommended Japanese car specialty shop who quoted me almost $7000 to fix the laundry list of malfunctioning stuff. I could have sold it to the state for $1200 and shopped for another car, I have the money, but I didn't have an idea of what I wanted in a replacement car, so I had them do the work.I’m mostly stocking up on .556 and consumables.
We’ve replaced all of our appliances/electronic devices in the last year or so. Replacing the car is gonna suck hard, but we are prepared to take the hit.
I’m realllllly hoping my family gets dissuaded from dragging me to Orlando this summer. If we can get priced out of the Disney money pit I’ll consider that a massive silver lining.
Maybe some fine national park(s)?My in-laws will be with us the entire time. They are insane and I really don’t want them sharing their perception of the civil war around my children.
oh man the fucknuts on CNBC are such scheisters. they call this out but then end their analysis with things like, it's about time that the Trump administration, the common sense administration, at least admit this is about trade deficits... blah blah blah
I wish I could reach through the screen and punch all these corrupt pieces of shit that are all complicit with this entire shit show.
OK, so you figure the market figured he'd call off the tariffs he said he'd implement yesterday? I was watching for signs of his usual brinksmanship but it didn't happen and here we are, for the moment, but I can't imagine him calling all this off at the moment because it would be a sign of cowardess, concession, an admission of failure and we know he avoids that at all costs. He'd rather spin it with bullshit hyperbole saying we're headed for the greatest boom in American history.The market crash exposes another big issue here - clearly the markets assumed Trump was lying about these tariffs or they would have been more priced in at this point.
The markets aren't wrong to have thought he was lying as, well, he lies about everything, but every once in a while he follows through and people are unprepared.
We've been continually warned for years that AI can have very negative consequences if badly implemented.I'm laughing here but it is so insane.
The President used AI to formulate a tariff policy that has Global Repercussions and is crashing our Economy.
This is our government.