KEY POINTS
- Goldman Sachs expects aggressive duties from the White House to raise inflation and unemployment and drag economic growth to a near-standstill.
- In a note Sunday, the firm said “we continue to believe the risk from April 2 tariffs is greater than many market participants have previously assumed.”
- The firm raised its forecast for inflation this year to 3.5%, cut its GDP outlook to just 1% and raised its unemployment view to 4.5%.
When the rich people are now questioning the other rich people, you know shit isn’t exactly going to plan.
At least not the plan some of the rich thought they were getting. They forgot to factor in the incompetence.
It is almost like our glorious leader is an idiot.
Or he wants to destroy America. Then he is brilliant.
You are both correct.
tRUMP is clearly, clearly an idiot. However his glorious leader, putin, must be considered brilliant to do what he’s done.
He’s completely evil, etc, but he can die happy knowing of the damage he’s done to the USA (and other countries) will be felt for decades.I hate them both with a passion, but you’ve got to give credit where it is due.
(He’s also damaged Russia for decades to come)
This is entirely a self-own by donvict and his stupid sycophants. He was handed an economy that had so many great indicators and within mere weeks, was able to fuck it up.
Heckuva job, donnie.
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Translation: hey rich customers, fire sale and reason to lay off your highest-paid employees incoming!
Remember, they and the people who listen to them wanted this.
They don’t understand just how bad it’s going to get. It’s going to make 1929 look like playtime.
Yeah, but 1929 was actually fine for the richest families. Plenty of wealthy people got even richer.
You’ll notice the language in that article describing the success of the businessmen is stock-market-bro speak for ‘gobbled up businesses for pennies on the dollar thanks to the depression, then rode out the storm and made bank’.
Lots of guys on the market these days dreaming of building empires that way.
That only works if you are expecting a rebound… the way Trump is going about this, who the hell would trust a single word of a trade deal with USA?
People who want money or resources. You have to remember though, these aren’t the brilliant businessmen they think they are.
Most of these rich people are rich through family and luck, and believe they have magical powers to resurrect businesses and economies with a snap of their fingers.
They think they’ll just put everything back together with them at the top. They really have no idea how they’ll do that, of course.
And this is the Fart of the Deal… inhale Muricans
The trump regime was designed to TANK the US economy so that stocks, businesses, and industries can be bought by billionaires at rock bottom prices.
All is going according to plan.
Glad to know that GS is catching up with every other financial advisor and most of the logical everyday people who understand that making things more expensive tends to make people’s financial situation worse.
Economists do not usually speak in black and white terms like this.
Our economy is in for a bloodletting.
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Make people desperate,
They’ll more likely go to war.
They might go to war against the leaders within the country instead. Trump is really playing with fire here, messing with the gun-toting constituents of his.
Revolutions need organization. Organization needs third spaces were people can meet, discuss, and organize. Most of the US has basically no third spaces outside of churches, and this is very much by design.
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Nah, just say that Hussein Obama did it or something stupid like that, say it’s open season on the treacherous libs and they’ll happily make another Kristallnacht because that is how stupid they are. They’ll follow Cheeto straight into hell and then he’ll abandon them there and they’ll still blame Obama because please do not expect these people to have a shred of dignity to say “I was wrong”
nah, they don’t even know which direction to point those boomboom sticks, but probably Biden
I accidentally got some of the crazy content in my feed; it seems they want to arrest Fauci.
clearly, Fauci created COVID which is a bioweapon that isn’t serious enough to employ biodefense measures against including barriers (masking) and immunizations (vaccinate), but serious enough to have triggered a recession that the present trump slump is fixing, etc. So yeah clearly Fauci’s fault.
Please call it The Trumpcession.
The Republican Depression or Trump Depression. The Republican dust bowl also.
I guess we could just call bankrupting anything from now on “going in the orange”. You know when you’re so far in the red your only choice is to turn into a fascist and begin killing immigrants you’re probably in the orange
The Trump Slump!
Trump’s gonna call it a fire sale. Him and his buddies will just get more powerful.
And if it goes beyond a recession, we can call it a Trumpression.
I’m trumpressed
I already coined it The Great Repression
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I bet before the end of the day we’ll hear about how Goldman Sachs, of all places, is full of RADICAL LIBERALS and has gone WOKE!
We jumped the shark when they called the FBI “woke leftists” however many years ago that was.
That was in February
I’m really talking about the Mara Lago raid in 2023.
So why aren’t the big players on Wall Street raising hell over this?
they’re are vultures, hoping to buy low and sell high.
They have lots of liquidity and are willing to take the hit to buy more at lower prices.
No fucking shit
And that’s without taking into account the crashes to come when there will be a correction after all the shady stuff done by the financial sector when there no longer is any agency capable of supervising them. That will likely have planetary repercussions,.
or the persistent international distrust Trump has carved towards the USA for decades to come
Ah yes, when Trump does his own research.
Meanwhile, anyone with a halfway decent high-school education, knows this is what happens when you engage in a trade war with all your major trading partners.
As does much of his cabinet, it seems. That, or if they know better, they are too afraid and power-seeking to counter even the very stupidest of his “ideas”.
