Trump says things are 'going very well' after worst stock market drop in years over tariffs
Trump says things are 'going very well' after worst stock market drop in years over tariffs
My stocks were a couple bucks shy of $10k on January 19th. Yesterday morning they were $8100.
Edit: down to $7700 this morning.
I've seen a 30% drop since this whole thing began. I'm not looking to divest for another 18 months, but that's assuming he doesn't completely collapse the economy for years...
Silly me for planning to retire.
Silly me for retiring in January
I have a 403B that I pay absolutely no attention to. I was curious, so I decided to look.
Three years of reasonably steady growth with what looks like a run of the mill transient dip at the end.
Almost $10,000 evaporated since March.
I see no reason to believe that it's transient. I think it's just the beginning.
After 2 years of gains my TFSA was $8k in the green on inauguration day. Today it is at $400
At least you did not put much money in the market
I wouldn't be surprised if he really believed that because all the yes-men around him are constantly telling him how great he is.
What makes you think the stock market crashing is not his aim?
People keep repeating this. It's all on purpose because billionaire snap buy everything cheap
My question continues to be that, such strategy makes sense if you know what you bought cheap would be valuable again. However, trumptard has antagonised the WORLD, even if trade resumes, everyone would jack up prices for the USA to include the risk of another wave of stupid and nobody would sign any long-term agreement so you'd wind up not knowing if your product would cost 10, 20 or 50% more next quarter...
What makes you think the stock market crashing is not his aim?
I think it's a combination of both that and stupidity, of both him and the oligarchs. Yes, they like manipulating the market and being able to buy up stock when it's down and it was working for a while there, but they didn't bargain on just how far trump would go and how much he would fuck things up. trump figured he could cow other countries they way he does Americans and since he can never admit he's wrong, he'll keep doubling down even though it's not working, causing further havoc. I don't think he believed China would retaliate with a 34% reciprocal tariff, and he's not going to listen to the oligarchs when they tell him it's time to back off. They installed into the presidency a monster they can't control
It does massively lower US hegemony
Would be a good move if he served Russia or China but a terrible one if he served the US
Because he's not that smart. It's not even a Project 2025 thing, because it's somewhat split on the issue of tariffs. In so far as it supports it at all, it's mostly about working around some free trade treaties and tweaking things here or there. This strong, across the board tariff is entirely his own idea.
My portfolio is down 40% since January. I'm just glad I took most of it out before it got too bad so I've only lost about $1,000. I was about to open a retirement account too but decided against it when things started tanking and I'm glad that I didn't.
Modern "Emperor has no clothes" moment.
Except in this case the emperor and all of his advisors have been telling people for months all about how he wanted to go around naked insisting that he is wearing clothing, and all of the dumbass peasants truly believe he's wearing a beautiful new outfit in spite of the obvious fact that he's running around naked.
Remind me again why did you US people elected this guy?
As far as I can tell, it boils down to some combination of three reasons: they're bigots; they're stupid; or they're selfish. Bigotry is self-explanatory. If they actually believed that he would do good things and help the country, then they're clearly stupid. If they didn't care how his actions hurt others but thought they'd help them financially, then they're selfish. Now, if they're selfish and not wealthy (wealthy being not like two houses and a couple millions in savings but rather own a couple yachts and an island) then they're also stupid on top of being selfish.
The United States has a good deal of cultural rot. As a culture, we're sick and have been for decades (and that's not even getting into the nation's original sin of slavery/racism). Carter rightly pointed it out in his "malaise speech." A large number of Americans are simply incapable of thinking about others outside themselves. We are incapable of taking on large projects for the collective good. And because of that, we defunded education for decades leading to the stupid, selfish population of today.
Reminder of how selfish people are: the pandemic. People couldn't fathom why they were expected to take precautions to avoid spreading it to other people
The worst part is that if you're selfish, you'd think Biden would be better. I miss that 30% increase in my stock portfolio vs the 25% decrease for no reason.
A long time ago, republicans needed an easy way to get voters to vote against their own interests and instead vote in the interest of the corporate overclass. Abortion. It’s genius. Make the preachers ultra wealthy by getting them to preach about something the Bible never seemed concerned about. Abortion. They’re murdering babies, you just have to get out and vote.
Eventually that strategy brought diminishing returns. They overturned Roe and the issue doesn’t have the same bite that it once had. They needed a new plan. Wait, I’ve got it. Trans people existing. Trans people bad, and they’re trying to assimilate your children by existing. They’re trans animals now, pooping in litter boxes at school. How long until you have to refer to your children by neopronouns under the threat of incarceration?
Seriously. This is how trump won the election. This issue is the issue they chose and it works. I hear it from my rightoid coworkers all the time. The GOP creates boogeymen to get idiots to the polls and it works, and the democrats have nothing to counter it.
Oh, come on now. It wasn't just all about trans people. You're forgetting the real threats.
Are you not forgetting the threat of tens of thousands of dog-eating Hatians in Springfield, Ohio? Notice how you haven't heard a peep about dog-eating Hatians in Springfield, Ohio any more, because God-King Trump solved the problem of dog-eating Hatians!
And we had another problem about having a really, really old white guy with cognitive issues sitting in the Oval Office. Democrats tried replacing the old white guy with a <gasp!> black woman and the country collectively stood up and said "No, not like that!", and lost their collective minds. So of course we did the sensible thing and went back to electing an old white guy with cognitive issues, and everybody lived happily ever after and nothing went wrong.
Then of course there was the Israel conflict, where everybody was upset over Biden's support for Israel and the ongoing genocide in Gaza. So of course, the only sensible solution to that was to elect someone who promised to genocide harder, annex the territory, and turn it into beachfront property for the rich.
And all of this, of course, was meant to bring down the price of eggs. My understanding is that Trump had a meeting with the National Institute of Chickens the other day, and they are the ones who persuaded Trump to impose a 29% tax on uninhabited Antarctic islands out of fear of having to compete with Antarctic penguin eggs.
As a result of Trump, we've restored the dignity of the Presidency by making sure the status-quo is maintained, eliminated the threat of dog-eating Hatians, brought peace in the Middle East by letting Israel just steamroll over everything, and now have a President who is taking it to the front lines on the war on eggs! What more could we possibly ask for? <criessilentlyincorner>
I voted against him.
Because he has a penis, and his opponent didn't.
Remind me again why do non-Americans believed the Americans are one single person?
It takes less mental effort for them.
Dozens of Bomb threats suppressed the election day turnout in Blue areas of swing states.
He’s clearly good for the economy, you just don’t get it. Like adults and applejacks
HitlerPig golfing as the Dow drops 10% = Nero fiddling as Rome burns.
S&P is down about 16% since he took office. All caused by his own actions.
See? As a Free Thinking Republican who Does His OWN Research I TOLD you things were Good and all those Stock THINGS like were FAKE NEWS! Convicted Fraudster Trump would NEVER Lie to Me!
Caught the moment as the market opened on Friday:
Pulled all of my funds out of the market months ago...
No idea why people thought leaving their retirement funds in the stock market with trump in charge would be a good idea.
The problem is you have to buy back in at the dip. And Noone knows when the dip will be done dipping.
Professional stock traders don't know when the dip will end, so unless you are retiring in the next year or 3, you need to invest back in something... so start thinking about what that means for you
This is the most important advice for investing right now. Volatility is something you should be considering before investing, not afterwards. Let present holdings ride, and use this as a time to recheck your personal comfort level with investment risk going forward.
The problem is you have to buy back in at the dip. And Noone knows when the dip will be done dipping.
Professional stock traders don’t know when the dip will end, so unless you are retiring in the next year or 3, you need to invest back in something… so start thinking about what that means for you
Yes and no.
Let's say you sell now. Then stocks drop by 10%. (Making up numbers for easy illustration). You wait to see if they're going any lower, and the next thing you know, stocks have regained 5% of that and are on the way back up. If that's the point where you buy back in, and assuming they don't drop again, you've still come out well ahead.
It's not so much about "buying the dip". It's knowing when the dip is over, things have started rebounding, and getting in before all the losses have been regained.
It's fucking great. The money that I moved from my savings account into the market is doing awesome. /s
Good thing he'll watch "news" aimed at total dipshits like himself that won't confront him with too much reality.
Napoleon vibes and I don’t mean Bonaparte
Spasti 😂
I don’t doubt things are going very well for him. He’s out of jail, hitting the links, and bribes are pouring in.
Don't forget all the crypto grifting. Stocks could plunge another 50% and he won't care, because that's not where his money is. He might celebrate the dollar tanking if it means $TRUMP buys more dollars
And just today alone he gained new future golfing buddies Russel Brand and Jean Claude Van Damme!