1500!!!
And yet people still felt the need to vote for him
I’ll never understand this country…
And people still thinks he is playing some sort of 4D chess. My friend in Georgia says he is creating a dip so that federal reserve will lowering interest rate.
Yes, because a president that fired so many fedral workers, and sending secret police to abduct people cannot control the federal reserve, have to play stagnation or bust.
One of the talking heads on one of those business news shows summed up the theory about lowering interests rates as “it’s like burning down the house to cook a steak.”
There’s no plan here, it’s just a deranged old man surrounded by sycophants doing all of the things people previously told him wouldn’t work.
Racism.
The south started a war and killed 600k Americans for racism.
It’s all some of them care about, it’s their alpha and omega.
Lack of education, bo lack of racism
They voted for this. We all have to be onboard for the crash.
My 401k today is $520 less than what it was Jan 21st. I put in almost $600 every 2 weeks.
That’s a good chunk of change that just disappeared. I can only imagine how much someone with a bigger retirement account than I have is hurting.
It disappeared now. When COVID hit I upped my contribution just to max out when the market was at a low.
The only way for the 401k to disappear entirely is if the entire economy is royally, never before seen fucked and completely collapses. At that point retirement if probably not a possibility anyways.
Any other situation you’re essentially ‘buying the dip’ and will see the returns years from now. Although if you’re looking to retire anytime in the near future it will likely be a huge hit on what you can take out.
deleted by creator
Y’all
I’m not sure if you’re a Boomer who had an actual choice, or a Gen α who has an excuse for not understanding.
Looking at your comment history, you’re an idiot lol
Meh I went through the same shit in 03, 08 and Covid. It hurts but keep depositing and/or increase your contribution. Your future self will thank you.
I sometimes wonder if this time is a bit different, but we’ll see. I don’t know what qualifies as a safe harbor if donvict’s wrecking crew end up destroying the entire fabric of why people invest in the U.S.
Meaning, the dotcom bubble, the early 90s recession, the 08 real estate bubble, the gigantic V that was early covid…those all still had a government that was looking to sustain most or all of our institutions.
Donvict and his crazy Project 2025/fElon dogebags are running around and ripping out the very infrastructure…
Oh I’m not stopping. Just pointing out how this is hurting people’s retirement.
So much winning
His MAGA fans likely don’t have anything in the market, or they don’t think they do, so they think this won’t affect them. They are in for a rude awakening.
No they are all over invested in the market. The techbros. The effective altruists. The boomers and anyone wealthy. They voted for Trump to pump their bags and dont care about anything else. Only the dirt poor maga aren’t baws deep.
I am actually getting worried about the leopards health, are there too many faces for them to eat? Do we need to ensure they stay healthy and in shape to better continue eating all the faces by restricting the amount of faces they can eat in day?
The leopards eating faces are becoming obese.
Yep. The market is a lot like politics that way.
You might not take an interest in markets, but markets take an interest in YOU.
Time for the rich to buy stocks on discount.
Assuming the US can recover…
Normally Trump does what’s best for the ultra wealthy, but de-dollarization of the world economy appears to be good for nobody in the USA. I have no clue what they’re trying to do, I suspect he’s just lost it and there’s nobody left to tell him these tariffs hurt his croneys too.
At this point I wouldn’t be surprised if we’re already too far along to save the dollar’s position globally. Globally that’s probably a good thing, but for any of us in the US it’s decidely not.
with this move they seem to want to stop the rich from paying taxes and replace them with tariffs. the poor will end up paying them.
he hinted at it a few times. to be clear, i think its still dumb as fuck but here it is.
As confusing as it is this does still all fit into Theil’s plan to isolate the US in order to create a corpo-fascist state and bring back apartheid.
I have no clue what they’re trying to do
They published it online. project 2025. They straight up told you what they’re going to do. Add in pooty, whose goals align a great deal, and that’s it. How do people still not get this, they told you what they’re doing.
I think it’s more to the point to say he’s trying to destroy America, period.
It’s what Putin has been using his puppet for this whole time.
America falls apart, Russia gains.
What does Project 2025 have to say about tariffs?
Project 2025 is split on the issue of foreign trade.[109] Mandate author Peter Navarro advocates what he calls a fair trade policy of reciprocal, higher tariffs on the European Union, China, and India, to achieve a balance of trade, though not all U.S. levies are lower than those of its major trading partners.[126] On the other hand, Mandate author Kent Lassman of the Competitive Enterprise Institute promotes a free trade policy of lowering or eliminating tariffs to cut costs for consumers, and calls for more free trade agreements.[126] He argues that Trump’s and Biden’s tariffs have undermined not just the American economy, but also the nation’s international alliances.[117]
The first guy won apparently.
Right, he did, but here’s my point: Project 2025 doesn’t actually come out clearly for or against tariffs. So in so far as “they wrote it all down in Project 2025 and told you exactly what they’re going to do”, that’s just not the case for tariffs. And even the guy in favor of tariffs wasn’t talking about such broad and strong tariffs all at once.
In other words, this is Trump’s plan on his own.
Yeah, that’s just Trump. He likes to be vengeful and a bully, using tariffs like a stick to beat others info submission. But he doesn’t seem to know when enough is enough.
Russia wins…
I have no clue what they’re trying to do
Treason.
Pig Boy thinks he’s Napoleon, but he’s actually dry rot fungus.
If it doesn’t, the rich will still be fine. Unlike most Americans, they can diversify outside of the US.
Idk, when do they buy? This shit has to go way more south before our dear great leader decides to undo the tariffs, right? And if he doesn’t undo them, when would it go back up? We’re still in a race to the bottom…
I lost a lot of money today, but I’m still up from 6 months ago.
This is going to last a long time and the recession is when they’ll buy.
Knowing Trump’s irrationality, he just wants to erase all the market gains from when Biden was in office. That means he’ll keep at it until the DOW looses another 10,000 points or so.
Well I just bought some inverse SP500 x3 ETF so I’ll hold onto that until we reach the new great depression
That sounds like sunscreen
LOL, good luck with that.
(Inverse ETFs, especially leveraged ones, don’t work the way you think they do. They’re not really intended or suitable for anything but day-trading.)
U right, made up some of my losses today but I do plan to sell as soon as it looks sort of stable then I’ll just buy a long put
Even if he does undo them there’s no telling when he’ll put them back in place again on a whim. Everyone abandoning the market isn’t going to come back unless Trump gets Epstein’d or Luigi’d.
That’s not how it works. Stock prices don’t fall below the level that rich people are willing to buy them at, specifically because rich people buy them at that level.
It’s good for them when they can buy other people’s stock at fire sale prices, it’s less good for them when their own stock is reduced to fire sale prices.
It’s only a concern if you need to sell during the downturn.
Hopefully the market can remain irrational longer than they can remain solvent.
And it isn’t good for them if stock growth doesn’t happen because American companies lose market share.
He inherited a growing economy, a healthy stock market and low unemployment. He has undone all 3. Power move!
No imagine what evil he could do if he didn’t spend 90 % of his waking time golfing!
And he was very quick about it. I have never seen anyone deal so artfully before. /s
Be fair, it did take a long time to undo all that…
He’s been back in office an astonishing two months. That’s a lifetime!!Don’t give me hope
I keep saying that but a lot of people that just like to be contrarians (I guess?) keep saying that the economy was not really good at all.
He also had friends and allies all around the world. He’s undone that too.
We’ve probably been in a recession now for awhile. We won’t know officially until I’ll maybe, November? Figuring it usually takes 7 months for data to catch up and and a official recession needs to be 2 consecutive months of lost growth.
Two consecutive quarters and that is a very open definition since other factors also are considered.
Thank you for the correction. Edited original post.
I was considering trying to cash out my 401k and ira in the US (I bought my first house and I think that’s one of the allowed cases), but hadn’t worked out the details yet. Guess that’s not happening right now. I no longer live in the US and will probably renounce citizenship once my parents go.
I looked at my other investments this morning based on this post and… Lol. Granted, I only one a handful, but it still hurts. My stock that was worth only like 40 cents moved up 5+% so yay for that, I guess.
Got my family out last year, I commute back and forth.
There is something really sick about watching this from overseas, like watching paramedics carry bodies out of a car crash.
But it was no fun when I was there.
Fucking morons shooting themselves in the balls to look tough.
I’ve only been twice in the last decade: once the year after I moved and summer 2022ish. It’s just crazy to watch. My family just offered to pay for us to fly out for vacation but I declined. My non-white wife that doesn’t really speek English + immigration now means we’re not going near the place.
What happens to your 401k and IRA if you’ve moved abroad and renounce your citizenship? Will it ever be paid out?
Not an American so I honestly don’t know.
I don’t know either. I imagine it just lives on. I can’t put money in them now from Japan anyway (well, unless I want to pay some taxes in the US on top of what I pay here; no thanks). I can’t use Japan’s equivalent either since the US tax authorities will massacre you with paperwork and fines (PFICs). If social security still exists, I worked long enough in the US to get that and it doesn’t matter for that if I renounce.
If social security still exists, I worked long enough in the US to get that and it doesn’t matter for that if I renounce.
Well, hope they won’t change the rules around that if it does still exist by the time you retire. Though generally such things aren’t done retroactively I believe. Once you’ve earned it, you’ve earned it. Even if rules change for future folks. At least in sane countries, but of course we’re talking about the US…
There is a totalization agreement with the japanese govt, so I could theoretically do something before renouncing, but I’ve never looked into it. I liked the idea of having both for diversity and safety
These rules aren’t set by God. Earning it is pretty meaningless.
That wouldn’t effect legal agreements. if he’s still the owner of the accounts the are still enforced, at least when there was a functioning system in place to enforce contracts with in the US legal and banking systems.
To be fair, the market is roughly at where it was in September (pending further tanking). So, not a huge difference…yet.
Maybe whatever civilization replaces the US will learn from our mistakes and never, under any circumstances allow a single person to have the ability to set any kind of policy. Hopefully they also don’t leave gigantic weapons that can destroy the country all over the legal tapestry and use the honor system to control their usage.
Who are you kidding we’re going to put lead back into everything again just for fun.
Us humans have been making the same mistakes for thousands of years. Lather, rinse,repeat.
It’s not one person charting this path.
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.
Even the wealthy have to think about what is happening right now. To have their company’s value go to shit overnight isn’t winning him any fans.
I think a lot of them are ideological psychos. Saw an interview with Forbes magazine founder, and he’s giddy about these tariffs because he thinks they’ll enable tax cuts. I don’t think he cares if his shares tank or whatever, as long as he doesn’t have money “taken away” from him to help the poors.
No, that wasn’t the point.
There were 2 goals:
-
Cut spending to 0 so they could cut taxes (cap gains to 0)
-
Isolate the US from the rest of the world, this is what Putin cares about the absolute most. If we’re out of the way he sees Russia as unstoppable (which is stupid, they can’t beat any country with functioning tractors).
-
Its Russia in the 90s all over again. Must be a coincidence that the Russian mafia-turned-regime they’re so chummy with, got its foot in the door and secured its power through an almost identical move.
Im wondering if America will have its equivalent of the 1999 Apartment bombings.
…what were those
False flag attack orchestrated by the FSB of. The orders of Putin when Putin was still officially Boris yeltsins second in command.
It was used to justify breaking the truce with thr chechen separatists. And start a new war.
It is often cited as the main incident that allowed Putin to seize power in Russia. Yeltsin was dreadfully unpopular. Putin made himself look strong by playing the role of the patriot who was going to flatten the terrorists for what they did.
It was all a scam. Everything Putin has ever done has always been a scam
https://en.m.wikipedia.org/wiki/1999_Russian_apartment_bombings
Interesting read
A lot of people might decide to violently resist such an eventuality. Things can quickly go off the rails.
Remember that despite the rule of law no longer applying to the rich and powerful, the laws of physics continue to apply.
A lot of people might decide to violently resist such an eventuality
I don’t see a lot of evidence to suggest that’ll happen.
This is what Trump wants. He wants the market to drop and/or a recession. Why? To force the Fed to drop rates back to essentially zero. Once that happens, expect a blistering turnaround in the market. Everyone and their great aunt will be borrowing money at ultra low interest to buy stocks. The stock market will explode, maybe crypto, too. Inflation will skyrocket. It will be nuts.
They’re already shilling crypto hard and threatening to reneg on US debt. They want to crash the economy, do a full venture capital takeover and set up autonomous states in preparation for the coming inequality revolution.
It’ll be harder to recreate the inequality we’ve seen since the 1970s without the Cantillon effect.
Were passed the inequality we seen in the Great Depression on many fronts.
I didn’t have much in but I’m divesting from all stocks and cashing out. Everyone should sell it all and let the market crash.
I sold out everything back in Feb. I even processed a 401K to a roll-over IRA just so I could hold the money in cash. The money-market account is paying around 4% right now.
This orange moron is going to cause a massive worldwide recession and a depression in the U.S.
I’ll reinvest in a few years.
Get some EUR, GBP, gold, bitcoin. Dxy is down ~10% since Feb. USD to 0
