r/NoShitSherlock • u/SnooCookies2243 • 3d ago
The President’s Tariffs Have Erased Over $8000 from the Average 401k – Liberation Day is Liberating You From Your Money
https://congress.net/the-presidents-tariffs-have-erased-over-8000-from-the-average-401k-liberation-day-is-liberating-you-from-your-money/[removed] — view removed post
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u/Ill-Possible4420 3d ago
And the high prices on everything haven’t even really started yet. This is just the initial shock.
It’s all going to get way worse.
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u/VectorVictorVector 3d ago
100% true. For comparison, Dow Jones fell over 6000 points in the Great Recession and we already dropped 3700 points in two days.
All for nothing. We’re not even at war and there is no pandemic.
We are totally screwed if something isn’t done soon to reverse this.
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u/watch_this_n0w 2d ago
The 25th Amendment is the only path forward, and that won’t happen because 27% of this country is in a hate filled cult.
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u/my-love-assassin 2d ago
Lmao if you think peewee vance is going to save you, im sorry to say that he is an absolute chode.
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u/meltbox 2d ago
I mean this could easily be worse. But also 3k points isn’t as high a percentage this time because we’re starting from higher.
I’m out. If I lose some gains so be it, but the volatility isn’t worth it right now.
Plus I subscribe to the Putin behavioral doctrine. Trump won’t reverse because if he does he’ll look like an idiot. He’s committed to this one I think…
Similar to how Putin thought Ukraine would fall he’s expecting countries to capitulate and they’re showing they won’t.
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u/crinkledcu91 2d ago
We’re not even at war and there is no pandemic.
If we were at least putting boots on the ground in Russia or sending our entire Navy to do 24/7 patrols around Taiwan or hell, even just doing some of our "Regular" American Imperialism routine- like at least there'd be something. But like you said, we aren't even doing anything like that.
At least in books and shows there's some sort of flimsy plot excuse at worst. But no, IRL there isn't even that. It's so goddamn senseless.
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u/VirginiaLuthier 3d ago
He doesn't have a plan. The goal is chaos and demoralization. His rich friends won't suffer, and that's all that counts....
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u/LightHawKnigh 3d ago
He does have a plan, or at least the people behind him do. Crash the economy and let the rich buy everything for pennies. Who cares about long term profit, go all in short term like always.
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u/videogamegrandma 2d ago
There is a plan. It's to kill all "entitlement" programs by any means possible. SS, Medicare & Medicaid, Snap, Section 8 housing. (Screwing with the Cobol programming, closing offices and firing employees will work);
doing away with taxes on assets and wealth for the top 1% and corporations; closing regulatory agencies that protected our air, water, soil, environment, disease pandemics, worker safety, food and medicines;
privatize the land and resources currently held by national parks so drilling, mining, timber and other resource extraction companies can profit from them, drive small farmers out of business so big agra companies can obtain their land and equipment during bankruptcies,
eliminate public schools and deregulate religious schools, do away with child labor laws, bust all Unions, kill the Affordable Care Act so employees must work for companies that provide healthcare.
Access as many 'favors', campaign donations, luxurious vacations, 'bribes' as possible while pretending to care about constituents.
Broadcast and print continuously right wing, misleading and outright lies via propaganda dissemination by Fox, Newsmax, OAN, etal & right wing media to keep conservatives convinced they are 'right' to continue to trust them.
Fire any disloyal employees who do not swear to the regime instead of to the Constitution. Impeach or remove via elections any judges not part of Leonard Leo's ideological, white nationalists, Dominionists interpretation of the law instead of following Constitutional law.
Enable an authoritarian Executive branch headed by Trump and interfere in or suppress democratic elections to assure no challenges to their rule is allowed.
"Disappear' dissenters who speak out publicly. Threaten law firms who accept cases involving free speech, illegal actions, abuse of authority.
Threaten journalists who continue working to uncover and inform the public of the incompetence, cruelty and violations of the rights of citizens to due process under the law.
Obtain control over the military so they can be used to protect themselves and allow them to continue to illegally profit from and obtain even more power and control over the population. If possible declare Martial Law so all constitutional protections for citizens are suspended.
Bankrupt citizens in order to obtain as much private property as cheaply as possible so as to concentrate as much wealth as possible into as few hands, wealth funds and corporations as possible.
Manipulate and take control over local, state and federal elections like Putin does in Russia to remain in power.
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u/WiltedKangaroo 2d ago
Crash the value of the US dollar so that bit coin is the only currency after all big banks are bankrupt by the top 1%, so that they can hide all of their massive wealth forever without a trace.
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u/videogamegrandma 2d ago
The Saudis are starting to use Yen as exchange/Petro dollars for business with China. Replacing the US Dollar is a dream of China. Bitcoin should terrify everyone. Money laundering, tax evasion and theft/cybercrime seems to be it's primary usage.
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u/Prestigious-Copy-494 2d ago
I think you hit all the bases! What a sh*tstorm of evil this lizard president is.
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u/WhatADunderfulWorld 2d ago
He has a plan but people are just saying it won’t work. Not his people though. So he doesn’t care.
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u/ra3ra31010 3d ago
Good job conservatives! The only prices getting cheaper now are stocks! The EXACT opposite of what you all claimed to want
Instead of lowering prices and raising stocks, you’ve en outraged higher prices and lower stocks! Wonderful /s
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u/NotStuPedasso 3d ago
Great... So much for retiring before I die. Thanks MAGA, Stein voters, and morons who didn't vote!
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u/Overall_Falcon_8526 3d ago
Please include far-left morons who "care about Palestine" and communists who want to "accelerate the collapse."
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u/Nopantsbullmoose 3d ago
Yeah, those people I really fucking hate more than the MAGAts. At least the MAGAts have the alleged excuse of being massively stupid, these so called "far-leftists" are supposed to be better than that.
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u/Overall_Falcon_8526 3d ago edited 2d ago
Social media warps people regardless of their political belief system, alas. The Palestine supporters are so far up their own assholes they'd drink Drano if someone online told them it would help.
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u/SleepsNor24 2d ago
The Palestinian fuckers never cared about them. They just wanted to play Russian roulette with their lives so they can feel smug about it. The blood is on their hands. Every one of those fuckers essentially strangled a Palestinian baby.
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u/0ldgrumpy1 2d ago
The way the racists claim their vote was because of economic anxiety, Muslims who really want to oppress the lgbt community claim their vote was because of Palestine. Don't expect honesty from right wingers.
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u/Cute_Commercial_1446 2d ago
Everybody's fault except dem leadership huh
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u/worksafe_Joe 2d ago
Yes. 100%. This is on voters. Take some fucking responsibility.
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u/Cute_Commercial_1446 2d ago edited 2d ago
You sound like Trump blaming Biden for everything
I voted for Kamala, in a safe blue district. I'm not mad at the Muslims in MI whose families are getting blown up to shrugs from the Dems, I'm mad at Kamala for being ok with those people getting blown up. Maybe take some responsibility that being a genocide apologist lost the election to the biggest piece of shit this country has seen in recent decades.
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u/ShaolinWino 2d ago
lol, so don’t blame the people who thought trump would be better for Muslims than Kamala? Cuz they weren’t wrong?
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u/Cute_Commercial_1446 2d ago
No one thought Trump would be better, but people couldn't justify a vote for a genocider. Which is reasonable, even if tactically there may have been a better option. So maybe Kamala should have realized that and been better.
Libs act like they believe in Democracy but then vote scold people who don't vote for politicians who fucking hate them. "Fuck you vote for me cause you'll never have any better options" ok definitely doesn't sound like abuse.
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u/ShaolinWino 2d ago
…. A vote for trump is a vote for someone who hates everything except enriching himself. So they were really smart with their decision.
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u/SleepsNor24 2d ago
“Everything is genocide” people are gonna get what they want when Bebe and Trump get to fucking.
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u/Cute_Commercial_1446 2d ago
Scratch a liberal and a fascist bleeds.
You're a bit too excited for that violence there bucko
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u/Extension-Repair6018 2d ago
Honestly, yes. You had two choices. One was promising a 25k first time home buyer tax credit and the other was ranting about fertility and the fall of western civilization. I don't understand how this was even a choice. Especially to the pro pali people.
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u/DrMikeH49 3d ago
Jill Stein and “uncommitted” voters: “Why did the Democrats do this?”
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u/Dry_Cabinet1737 2d ago
Absolutely! It’s those kind of w*nkers who if Joe Biden came round and ripped up their student loan debt in front of them on a Tuesday, would ask “what have you done for me lately?” on a Friday. They spend their time slagging off Dems before the election, then after the election attack them again for not winning.
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u/AdvancedAd7068 2d ago
I'm not too knowledged on Jill Stein but most of her supporters seemed like Anarcho communists and the type to want to see the US pay out of spite. I have friends who joke about "Burn it all down" and didn't vote because they feel personally slighted by the government, and these friends range from full blood native american to Serbian immigrant. To them Biden was as bad as Trump, and I could never get through to them when I explained how much worse Trump is.
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u/Dry_Cabinet1737 2d ago
Yeah I’ve got mates that are similar to that. “They’re all as bad as each other” etc. They seem to make a large part of their personality about it. Feels like they’re saying it to be edgy but it just comes off as nuts every time.
Hope it’s never their family or friends that get deported/fired.
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u/Future_Way5516 3d ago
I take nothing with me when I leave this mortal coil, although I may leave it a little bit sooner without the 8000.
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u/bigtittielover69 3d ago
I thought we all were getting $8k doge checks.
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u/No_Squirrel4806 3d ago
I cant remember what i commented but someone replied "you are all the same bitch and moan then when the 8k check arrives you will be the first to cash it." Theres no check!!!!! 🙄🙄🙄
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u/DrMikeH49 3d ago
That’s only from eliminating the Federal government’s role in food safety, medication safety, transportation safety, clean water, disaster relief, etc. The tariffs go straight into the pockets of the billionaires via tax cuts.
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u/AbraxosLovesFlowers 2d ago
I wonder if doctors are going to see more money too over those particular admins going away. They got vilified over COVID and abortion though, so I doubt it.
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u/my-love-assassin 2d ago
The fact that anyone thinks these crooks will give people money just shows the level of brain damage the average populace has.
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u/Overall_Falcon_8526 3d ago
To be fair, absolutely no on warned us that tarrifs would have this effect. No one at all.
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u/Jedi_I_am_not 3d ago
8000? I wish it was only 8000
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u/Educational-Health 1d ago
I think this just demonstrates that the average American doesn’t have as much to lose in the “richest country in the world” as they should. Stratification of wealth. (Also, sorry about your bigger losses, too.)
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u/MakarovIsMyName 3d ago
yeah, i down $35k because of this idiot.
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u/AbraxosLovesFlowers 2d ago
I’m afraid to look
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u/MakarovIsMyName 2d ago
fucking NVDA was doing great before the orange cancer. I believe it is at $90 and change right now. Fuck trump and the regards he surrounds himself with
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u/Hughsey1 3d ago
Apparently if you use AI it suggests doing this. Problem is people actually have to live. Not a simulation. Good luck and God bless USA.
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u/Jock-Tamson 2d ago
It suggests this as a means to eliminate trade deficits. A goal that makes no fkn sense to begin with. Unless everyone working hard to produce goods for others while getting nothing for it is your goal.
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u/beavis617 3d ago
Getting pounded again…This continues next week and it’s gonna make the 2008-2009 financial crisis feel like a day at the beach….
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u/Any_Caramel_9814 3d ago
The grift is on. 401K money disappears and reappears in the pocket of the wealthy
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u/formerNPC 2d ago
You could be getting your next meal out of a trash can and he will say that everything is great and nothing is his fault.
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u/1877KlownsForKids 2d ago edited 2d ago
We've erased all gains since AUGUST
Edit: Now we're back to May 2024
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u/Drago1214 2d ago
I have already lost 9.19% of my Canadian TFSA. Maybe round 10% of my other stocks. Dude wants to burn the world down so he’s friends can buy it cheap.
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u/TraditionalBackspace 2d ago
Over 100k from mine since trump's election and climbing. So much for retirement plans.
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u/HomeBuyersOffice 2d ago
Vote for a clown expect a circus. MAGAs will be so fucking poor soon they won't believe it. Buy it's not Trumps fault. It's Biden and Obama and Hillary....
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u/Lazy-Floridian 2d ago
In another historic first: Trump is the first President in history to start a trade war with penguins.
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u/BTCleaver 2d ago
No worries, when the market bottoms out, the 1% will by low and get your money for themselves.
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u/HenryUTA 2d ago
That's right on the money for me. $8K on liberation day and $30K since innaguration
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u/thrownehwah 3d ago
Part 1)make homelessness illegal Part 2) dismantle protections and federal agencies to help. Part 3) break everyone’s bank account Part 4) the rich buy everything at firesale prices Part 5) indentured servitude and company towns / scrip
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u/SmellTheMagicSoup 2d ago
Stupid Republican voters. Easily manipulated morons. Maybe when the country hits its next Great Depression those trust fund pussies you elected will take your dumb ass on a rocket ship ride.
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u/AbraxosLovesFlowers 2d ago
We’d sure better get some freaking phenomenal value for that $8k average loss.
Oh wait, this was an utterly pointless exercise with no cause outside of sheer stupidity.
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u/G4-Dualie 2d ago
And Donald Trump wants to privatize Social Security and Medicare subjecting them to the whims of the never ending parade of CEOs completing the twilight tour of their career with a Federal golden parachute… the Golden Turnstile for the rich who want to dabble in gov service and be richly rewarded with Medals of Freedom and Medals of Honor.
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u/Downtown-Midnight320 2d ago
Totally worth it to ensure the integrity of Mountain West Women's Volleyball.
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u/Humans_Suck- 2d ago
I used to wonder if this stuff will cause democrats to start supporting living wages but then I remember a full recession and covid weren't even enough to do that lol
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u/itsFromTheSimpsons 2d ago
Canadian here- my RRSP dropped 3% since late Feb, just made an appointment with the bank to talk about moving all investments out of US stuff
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u/JimPanZoo 2d ago
This was a deliberate action designed to result in a massive loss of property. Sounds criminal to me, economic terrorism or an economic mugging/home invasion robbery.
I know he has wheedle out immunity from criminal prosecution. So, when do the civil lawsuits and class action lawsuits begin?
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u/TimToMakeTheDonuts 2d ago
This might be the first time I can ever remember where I’m glad I forgot my password for something.
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u/AccountantTiny7848 2d ago
I hope who ever voted for trump loses there hole 401ks. I’m so sick of having a republican tell you that there ok with losing all there money they’re just afraid of admitting it. I don’t care who you talk to. My uncle’s retired he’s 66 lives on Social Security and the 401(k) that he has left. Every day it’s getting smaller, but he doesn’t like to talk about it.. cause he’s so scared to tell me the truth, the truth hurt’s some people.
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u/ReflectionNo5208 2d ago
But have you not heard: Losing money isn’t even bad. And honestly, I would rather lose all my money as I won’t actually remember it once I’m dead.
I shit you not.. I’m barely paraphrasing some Republican talking heads on Twitter AND the news.
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u/prof_the_doom 2d ago
I see Fox News has their talking points now... apparently this is all going to somehow magically make factories appear, despite the fact that the costs of materials are about to skyrocket after the tariffs and the fact that 2/3 of the planet is boycotting anything marked "made in the USA".
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u/AdmrilSpock 2d ago
All that DOGE fuckery claims to be for paying down the deficit (BS). Wear did all that money really go?! Show us the receipts Elon! Audit DOGE!
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u/SkarTisu 2d ago
I finally got this right after watching my 401k get nuked multiple times over the last 20 years. I moved everything to bonds in February and haven’t lost anything significant this week.
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u/Alakozam 2d ago
I'm down $17k just from 1 day. $36k since Jan 20. I don't wanna look at it but once it hits principal I need to pull the fuck out. Can't believe the last 4 years could disappear in a single month.
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u/crom_laughs 2d ago
if you are 10+ yrs from retirement…..then this will all be worth it.
the trick though, is staying gainfully employed for these next 10 yrs.
😬
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u/Motor_Bit_7678 2d ago
Hehe well said! After all the rich felt no pain and they are sitting in the whitehouse drinking vodka!
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u/NoorAnomaly 2d ago
Personal bright side: I didn't have a 401k until a few years ago... And mine was wiped twice that amount. I guess the rice and beans diet is working.
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u/Even-Machine4824 2d ago
Don’t worry! Your doge checks are coming soon! And no taxes on tips! And maybe even a concept of a health plan if you give him another 9 years!!! Weeeee!
But at least those 12 NCAA trans players you can’t name can’t play footy ball anymore!! Got em!!!
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u/knit53 2d ago
The liberation of 401K money is just starting. That will go for as long as the orange is allowed to run rampant. It will take years to recover. Down 5 1/2 % today up barely .01 percent at a time is years of recovery. They are so sure it’s great buy low. Uh huh. Saw that Tesla down 10% today!
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u/Ja_Oui_Si_Yes 2d ago
$8000 !??!??!!!
Is highly optimistic IMO
I have not made on dime in my 401K since July 2024
AND I'm contributing 20%
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u/Jmsjss2912 2d ago
Let’s talk about the tariffs and the effects it has on the manufacturers of this country. Assume for a minute that you wanted to bring back some manufacturing to the USA, which of course is a huge assumption compared to manufacturing outside the country like we do as a company. Which I will get to in just a moment. This week alone the stock market lost over US$9 trillion which means every single manufacturer that has a US corporation is part of that loss. Which goes to show you that Trump‘s logic is about as efficient as his spray tan. If these companies even had a thought of coming back to the United States, all of their cash has now evaporated because of the loss in the stock market so who’s going to finance these new manufacturing plants that Trump keeps talking about, that are going to come back here make the economy great? Now goods have gone up in price in some cases doubled already this week which means the consumers are going to be buying less. Companies are going to begin layoffs, because they’ve lost a huge portion of their cash reserves. Their businesses are going to be diminished some because of the lower purchasing rate and the higher pricing. Bringing manufacturing back to the United States at this point with this approach has been almost completely eliminated. All you have to do is go back and look at what happened during the depression when they tried to institute tariffs causing the depression to take even a further nose dive and adding years into the depressive point. It’s such a joke that they used it in the movie Ferris Bueller‘s Day off where the teacher was talking about how bad tariffs are and how they caused the depression to go down, which goes to show you that if they use it as a punchline, then it obviously cannot work. With our business, we were building some manufacturing plants in the United States and now have had to put it on hold because of the tariffs. As an example, each of our production lines has a manufacturing cost of a little under US$5 million, we did try to price it in the United States but we found quotes anywhere from $12-$16 million for the same exact production line that we are having made in China. So we couldn’t make the equipment in the United States, but we were going to import it and set up manufacturing plants. One of them was in Arkansas where the state is somewhat depressed. Now we have put that project on hold with approximately 1800 people we were going to hire. The reason for that is not just the tariffs, from the equipment if you think about it a piece of equipment that cost me $5 million is now going to cost me about $9 million. Each production line generates about US$35 million of revenue so it’s not just a tariff in my situation it’s the fact that for $9 million I can have practically two production lines generating $70 million of income compared to the same $9 million generating $35 million worth of income, with a much lower profit margin because of the labor cost in the United States along with all the taxes and liability issues that you carry because of the litigious nature of the United States operating. So tariffs do not work, they hurt the economy. The only thing that they do on the surface is generate more tax dollars for the US government, but they diminish and wipe out the middle and lower class. Do you want to bring manufacturing back to the United States? You’ve got to do something about all of the litigious actions, you have to lower healthcare cost, lower pharmaceutical cost, have to educate more so that children can grow up and learn trades. You have to find ways to lower the cost of living and once you start doing that then laboring jobs will become available again. The next problem is the taxation situation is off-balance. We have structured our tax code so that the wealthy and the publicly traded companies that offer stock options instead of salaries, which is taxable make it almost impossible to collect tax. Take Musk for an example from Tesla. They talk about his $300 billion worth but it’s all in stock and that’s unrealized gains paying no taxes. What he does is he goes to the bank and he borrows money against that stock portfolio, borrowed money is non-taxable income and then he uses that money to live and buy things like he bought Twitter for $44 billion with borrowed money, no taxes paid at all. And then what he does from there to pay off those loans is he borrows against other portfolios and he just keeps borrowing deferring the taxes. $300 billion and no taxes paid whereas the employees that work for all those companies have taxes taken out of each paycheck. Just look salaries up of the top executives around the country and you look at their income, you’ll see that their salaries are generally between one hundred and two hundred thousand US dollars but they earned anywhere from ten to a hundred million dollars a year all in stock options and then they keep those options in stock and then borrow against them so their tax base is almost nothing. you want to fix the economy. You have to find a way to tax the rich, you’re not going to make them poor, you’re just going to make them help to strengthen the economy.
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u/AssmunchStarpuncher 2d ago
Just don’t sell, it’ll recover in around 4 years. In fact this is a HUGE and rare opportunity to stack more shares.
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u/Environmental-Song16 2d ago
Fuck, I don't even want to look. Mine was already down 10k last month. 💀
I'm so sick of the orange one...so much carnage in such a short time. We could have had Kamala been ok. Things would have changed, slowly sure, but we would be in a better spot. Ffs
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u/Opaque_Cypher 2d ago
Hrmm — Not the validation I was looking for that my 401(k) is above the national average….
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u/Bionicbelly-1 1d ago
I switched all mine in the bond funds the first time he started talking about tariffs. Up 1400 since 4/1. Should really jump once inflation really starts.
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u/KrakenClubOfficial 1d ago
That suggests that the average 401k has 100k, which mine certainly does not. How about you?
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u/FactoryIdiot 18h ago
But the future is bright, you could be making indicator lights for minimum wage in a brand new factory in the near future.
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u/Content_Log1708 3d ago
Well, is it news that the stock market is in a huge bubble? It was bound to pop at some point.
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u/According-Insect-992 3d ago
"This is why it's good we're headed toward a new great depression. I'm very smart."
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u/Emergency-Shirt2208 3d ago
Stupid country.