“The president single-handedly wiped out Americans’ retirement savings overnight and subjected businesses to intense whiplash with his increasingly erratic and chaotic policies that continue to drive consumer and business uncertainty.”
The Kennedy’s made their fortune shorting the US economy during the Great depression.
Everything Trump has done has been calculated. I’d be willing to bet my left testicle that his gambling most of his fortune on heavily leverages shorts. He’s trying to create the greatest possible depression because that will make him the most amount of money.
He knows exactly when he will cut his bullshit so he will settle his short right before making the announcement. Then with all the money he essentially stole from the population he will then buy up large chunks of the economy (and so will his buddies).
Once capital is even more heavily controlled by the upper classes the only recourse left will be violent revolution. All speculation. But that’s what I would be doing if I was trump trying to install a true autocracy.
Trump pulled a Mario on the billionaires lmao 🤣
And y’all complaining
So repubs are alientating themselves from their traditional business base too. That leaves what? Nut jobs in rvs covered in trump signs?
All we need now is a massive man made natural disaster to strike to make it another great depression. Luckily there isn’t any terrible climate related issue that’s on the verge of causing a catastrophe or anything.
That, and good thing there isn’t a new pandemic brewing in birds and livestock.
Thank god 80% of the bees we use to pollinate all our food didn’t die this last month…
At least we don’t have a measles outbreak and an anti-vaxxer in charge
We should consider ourselves lucky there isn’t a genocide happening in the middle east with US backing.
I’d love to see donvict, fElon, Lutnick, Thiel, Vance and especially Navarro forced to live in poverty for a while.
60% chance of recession, 40% chance of a depression. “The Greatest Depression”
A golden age is coming!
Even if things just to recover to where they started trumsk will claim it as a giant win.
Frustratingly true
Tremendous, really. Like nothing ever seen before.
So much for the revolution being bloodless, huh?
In case you haven’t seen it there has been blood all over the place for years
Even if Trump removes every tariff a recession is almost certainly coming. Short to longer term planning, hiring, building, etc will certainly slow down and that kind of things is widespread. People lose jobs, people don’t get hired, people choose not to start a business or invest money in the USA, etc.
The MAGA Nazis are fully embracing AI, and full automation is on its way. All the tech exists right now to fully automate every fast food outlet in America. The could have the supplies stored in robotic warehouses, robotically loaded into self-driving trucks, unloaded into the restaurants robotically, prepared robotically, and delivered to the customer, who ordered it on an app or kiosk. All without a single human touching it anywhere along the way.
Corporations will become wildly profitable with greatly reduced cost of labor and related labor issues (HR, benefits, discrimination, etc), but the additional result will be the loss of millions of entry level and unskilled jobs. These are the jobs where young people learn how to exist in the workplace, where households can have a second income, where people can become managers and make decent livings, etc. And that is only one industry. Every single industry will be impacted by automation and AI, with an enormous net loss of jobs, leading to a permanent unemployment rate in the double digits, possibly as high as 30-40%, or even higher. The impact on the government and our economy of the loss of income tax revenue from those lost jobs is a whole other conversation altogether.
What will happen to all those unemployed people? There seems to be only two solutions: Universal Basic Income, or reducing the population by the permanent unemployment rate. It’s pretty predictable which solution each party would choose, and also pretty predictable how they would choose to accomplish their solution.
To put this in terms Civ VI players will understand:
MAGA wants a synthetic technocracy
If Europe follows the Estonian model it will be a digital democracy.
China is doing optimization imperative.
No, no, and thrice no.
Technocracy implies a ruling elite of experts in their field, individuals with actual learning and genuine expertise in their given fields.
This is fascist plutocracyb government by the hyper-rich with no more qualifications than “I have no morals and am willing to climb over others’ faces while wearing steel spikes to get yet more.”
There is a world of difference.
Yep. Not sure why you are getting downvoted.
A lot of Americans can’t handle the truth. They better start facing it, though, because its going to get a lot worse before it gets better. It’s almost certainly going to close in on Great Depression territory, but whats really scary is that we stand a reasonable chance of reaching Nazi Germany/ Final Solution territory. These people are not only capable of it, but they have been promoting it for years. They lie about a lot of stuff, but Ive learned to take them at their word on things like this.
The possibility of a situation like this is why people never succeeded in repealing the second amendment.
And whether or not we agreed with that fact, it is likely to have some effect on the situation now.
UBI is never going to come to the united states. Whats reasonably to going to happen is an uprising and the brutal suppression of it by the police state a la Tianenmen square style or even worse. US have done this against people of color multiple times in its history. This time others will join as well.
This time may be different because the police may have a lot greater reason to join the people than they did in the past. The police’s retirements were also wiped out, and the police’s family members are a lot more likely to have been affected by those tariffs. I think it’s too pessimistic to say what you’re saying, because the number of people affected now is significantly greater.
An uprising seems likely, and an attempt at brutal suppression also seems likely, but the United States regime has also made enemies of almost every other country on the planet, and the groundswell of people is very large. The number of people in the protests today was massive:
https://www.reddit.com/r/50501/
If you see the sheer numbers, it’s enough to give hope.
UBI is a variation on Trickle Up economics, which we know works well to stimulate the economy, because every time they’ve made money available to those at the bottom, like the Covid checks, the economy has boomed. The money will eventually end up in the hands of the wealthy anyway, but it will grease the cogs of the economy on the way. The only reason they want the money to go straight from the government to themselves is because they dont want the people getting used to not worrying about our bills. Worried people will accept more employment abuse.
Trickle Down is unsustainable, and reaching the end of it’s run. If they dont get with the program, and start embracing Trickle Up solutions, the citizens are going introduce Robin Hood Economics - Rob from the rich, give to the poor - and they arent going to like that at all.
This assumes that the citizens are capable of fighting back against an armed state which protects the oligarchs. The monopoly of state on violence enforced by the personal cults of various billionaires will quench any chance of a revolution. Add to this the surveillance of means of organizing like sms, signal etc and you get a perfect police state under the control of few. The ideal solution would then be to eliminate the impoverished basic class and live off the land. The only disadvantage is probably the stunting of genetic lineages some generations after. So they might keep some of the impoverished around to make sure that they can keep the genetic pool diverse.
So they might keep some of the impoverished around to make sure that they can keep the genetic pool diverse.
And as a source of replacement organs, tissues, and fluids when they reach advanced age. After all, they’re stripping everything else for parts, who to say they’ll stop just before putting poors under the knife to strip us for parts?
There’s only profit to be made if people have money to spend.
And people will have money, If they take a credit and work for less, then an AI would cost, to have enough for the pay the credit card interests.
Not to forget the ability to let middle management go when there are no workers to be managed as well as the people for low level optimization and planning.
This is a major thing and the reactions are unfortunately downvotes.
The ripple effects will be huge, and touch every industry and every citizen.
I’ll gladly take the downvotes if it gets people thinking about the reality of the future the Sociopathic Oligarchs have planned for us.
China is likely to get AI before the US does. Innovation here is slowing down.
Companies are drooling at the prospect of replacing workers - it was several years ago when I attended a talk that was about how mining companies are seeking to automate all of it - this around the time when people like donvict were talking up coal-mining jobs and of course the magoffs piled on - if people looking to prop up that industry think it will result in lots of good-paying jobs with dignity, I have a bridge to sell them.
And that’s just one instance…
Mining is a terrible job for humans to do. Automating it has saved millions from death by Black Lung or cave ins or a thousand other things that can kill you in a mine.
The problem is with the notion that everyone needs a job. We could employ everyone if we paid them to dig a hole and fill it in every day. We could be living like retirees, but all of us need to go to a job for eight hours because an anti-Semite wanted to steal workers from his competitors.
I’m fine with automation if we can have fully automated luxury communism!
Add in “gay space” and I’ll agree
The blood is on gop hands and any billionaires backing him
And nothing gets better until billionaires bleed
And the people who voted for him. And the people that didn’t vote.
It’s 100% they are just too scared to say that
You can’t say anything is 100% with a chaotic and erratic president. There’s always a chance that Trump will undo everything next week and things will stabilise for a short while. That chance might be very low, but it effectively invalidates 100% prediction.
I’m afraid you’re wrong here actually. Being arbitrary and mercurial means no one will risk investing in the US, as policies may be created or undone at any moment. The only way this goes away is simply that he goes away. The risk is what is creating the certainty here.
It still isn’t 100%
Ok, 95%. Trump undoing things doesn’t actually help “confidence in the market” though, it might even cause or chaos shorter term.
There’s also an even more remote chance Republicans in Congress grow a spine and take away Trump’s ability to set tariffs or the Supreme Court rules the “emergency” invalid.
I’ve been putting off making my Roth contribution because it’s gonna lose value. Tried to add the cash to my portfolio the other day over the web interface. It wouldn’t let me. Had to call and the broker asked me if I was sure. Yeah, it’s for my tax return dude I don’t like it either.
I’ll give Krasnov a very kind 95% chance his tariffs cause a depression the likes of which this generation has never seen.
Blood for the blood God.
No one cares about rich people losing money. If they were smart, they would have sold their stocks when Krasnov was sworn in.
He was already talking about fucking shit up with tariffs while campaigning.
Smart people don’t sell stocks and shares when markets crash. They buy instead.
So much fud out there apparently. Time will tell how bad this gets, but this is pretty darn bad.
The Kennedy’s made their fortune shorting the US economy during the Great depression.
Everything Trump has done has been calculated. I’d be willing to bet my left testicle that his gambling most of his fortune on heavily leverages shorts. He’s trying to create the greatest possible depression because that will make him the most amount of money.
He knows exactly when he will cut his bullshit so he will settle his short right before making the announcement. Then with all the money he essentially stole from the population he will then buy up large chunks of the economy (and so will his buddies).
Once capital is even more heavily controlled by the upper classes the only recourse left will be violent revolution. All speculation. But that’s what I would be doing if I was trump trying to install a true autocracy.
How was Thursday and Friday not a recession? I lost > 10% of my 401k in 2 days.
It took 4 years to get to where it was since I stopped contributing right after the 2020 panic. 4 years of happily let my money do what it should, BAM wiped out in 2 fucking days.
I’ve Lost 15% since this shitshow of president started fucking with things.
Came here to note that S&P has been down over 16% since the clown took the WH and the circus started back up again.
Get your 401k out of stocks for now. Most plans have money market or other options you can exchange for.
That’s the dumbest advice ever! That’s how you lose all your money. Recession is the perfect time to buy even more stocks and shares. Don’t get out, get in!
Recession is a good time - at the bottom.
We’re still at the top.
You guys have fun losing all your money, though. Like the person I replied to complained about.
The only one losing money is you.
…how?
Selling near the top and buying near the bottom…?
You’re doing the exact opposite.
Howso?
What are you going to convert your stocks into Euros? Renminbi? USD? Bitcoin? There is just a lot of uncertainty, and I wouldn’t recommend anyone selling everything.
Panic drop out of the market after stocks went down some percent, great advice.
Just do nothing and keep your rates (or however US 401k works).
Time in the market beats timing the market
I guess. Other option is to ride it all the way down. I got mostly out after the election. I got the rest of the way out this year.
10% so far unfortunately.
Recessions officially require a slowdown of an economy over a longer period of time. Usually the stock market has nothing to do with it, though it can be a canary in the coal mine for it.
A recession has more to do with unemployment rate rising, negative GDP growth and consumer spending indexes falling.
Essentially it’s just a fancy way of saying the economy is slowing down in every category.
The stock market is a rich person’s playground in this day and age mostly.
The stock market is a rich person’s playground in this day and age mostly.
Unfortunately, if they do poorly, THAT definitely “trickles down”.
it’s not an exact measure, but the rule of thumb for a recession is 2 quarters of negative growth
there is 7 quarters remaining. Dumpf will bring the greatest depression in american history and if reserve currency moves away from dollar, there will be wars. Thucydides trap is here and better be prepared.
I wonder why they waited until just after the first quarter. Hmmmmm…
