What a complete fucking waste. My dad who isn't a Trump supporter but fell for the whole strong man "I'm gonna fix everything" schtick, works in finance and couldn't believe Trump unleashed the tariffs. š¤·
Go to every maga person and start cheering on the golden age. If they seem sad at how much money their 401k has lost tell them itās just the beginning of the golden age. Letās just keep heightening the cognitive dissonance at this pointā¦ thereās nothing else to do
Itās like someone saying heās gonna skin his dog again but people donāt take him seriously because heās only done it once or twice beforeā¦ and then he does itā¦
Being under the constant threat of having a blade against your neck should warrant that person from never holding office.
He says shitloads of stuff - end the Ukraine war in 1 day, take over Gaza etc etc
Just because he followed through on one thing doesn't mean he does everything he says - the fact that the market dropped so much means that they didn't predict him to do that either
To be fair, he has a history of bluffing and outright lies. Clinton isnāt in jail (yet) and the border wall, not only isnāt built, but Mexico didnāt pay for it.
On tariffs, he threatened them then postponed them. On 4/2, āliberation dayā, the market was green until he showed that big beautiful chart around 3:25 est. The market didnāt fully believe him for good reason. Sadly, I kept thinking I should buy puts, but second guessed myself thinking I was missing something. I reasoned the market was probably right, heās going to move the goal post again.
Here is what the market didnāt know: He previously talked about reciprocal tariffs, which would be fairly reasonable. What he calls reciprocal tariffs are way higher than what other countries actually have on our products. That was the biggest shock to the market. There is reason to believe the market priced in actual reciprocal tariffs, not the wildly disproportionate tariffs he announced.
Trump has a history of claiming he would do one thing, accepting 10% of that thing, and then talking up his great success. Lots of his supporters take him seriously but not literally, and I could see how people would be surprised by his actions.
Finance people are actually quite clueless. Spouse is in finance and I, the lawyer, actually dictate our investment strategy (and we pulled out early this year so weāve been spared the bloodbath). I attribute it to lawyers being trained to spot risks and to mitigate risks. Also, having an understanding of how the law works is a huge competitive edge.
I know a few. My explanation of all MAGA is this: they are incredibly self-centered individuals. Seems to be a pre-requisite to the MAGA āmovement.ā
MAGA lawyers and to some extent Vance are the equivalent of court historians hired to rewrite history and provide the intellectual justification for Trumps bullshit.
They are arguably the worse of them all, because they are the key enablers giving this clown and visage of legitimacy.
I find lawyers to be the absolute worst with investments. Lol trained to spot risks. Usually the lowest paid back office cost center in any Wall Street firm.
I was reading about the 2007-2008 crisis and crash and how most economists did not see it coming. There is a small list of people credited with predicting it. But after reading that, I have realized no one is going to warn or save us. We truly have to look out for ourselves.
We all saw this coming. I know I did. I completely sold off all of my stock holdings in December. I was able to buy 60 acres of land. I think I'll sit tight for the next few years.
Hmm, I briefly considered pulling everything out in December (when the market was quite high), but only pulled out about half because of tax year reasons. I figured Iād pull out the rest in the new year. Anyway, the market has gone down sinceā¦
It is impossible to time the market, missing the best 10 days can absolutely crush your overall returns. Derisk a bit, but hopefully you didnāt pull out completely
8 years by my estimation. 2 years development and permitting. 2 years construction. 2 years interior fit and commissioning. 2 years to reorient global supply chains, hire staff, train, and ramp up to full production.
Theyāll hire all the people that got laid off for minimum wage. Itāll send the middle class into a spiral, produce cheap real estate that can be bought en masse for cheap as well. The rich get to own everything and create a serf class and further eliminate the middle class. Itās exactly what they wanted this whole time - rich and the poverty stricken masses. Theyāre just being open about it and 1/3 of the nation loves it.
Is that when he'll get bailouts, or fire J Powell and then demand 0% interest rates and make inflation skyrocket again just like he did with his bailouts in 2020?
America is Russia level fucked. You attacked fucking allies in your bullshit hissy fit thinking you were some untouchable child of the globe. You're about to learn the world will happily run sans US greed and stupidity.
The sheer amount of effort expended by previous presidents to keep everyone working WITH america only for Trump to suggest we all fuck off is blinding. Its the golden ticket for the world.
No one told that dumb fat fuck that we were all under the boot before and by whining and crying and telling us to fuck off that we're free loaders we're actually free.
America is the exploitative boyfriend that doesn't have any idea, yet, how spoiled he was, but is about to be on his own for the first time ever and he's absolutely fucked.
The vast majority of Americans did not vote for this. I donāt disagree with you in any way and I respect that the rest of the world needs to work to protect themselves from this madness.
Well, tariffs have been wielded like a bludgeon twice before. Both times, it ended it in a depression. The last one saw traders walking out of windows - 30 floors up. It took several years for the damage to accumulate enough to push them over the ledge. This time, however, we have 10s of thousands of freshly unemployed Feds, AI replacing middle managers, tech jobs going to India, and safety nets disappearing faster than an alcoholic playboy waking up next to a fat girl. I think this year, early autumn.
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u/Dalcoy_96 1d ago
What a complete fucking waste. My dad who isn't a Trump supporter but fell for the whole strong man "I'm gonna fix everything" schtick, works in finance and couldn't believe Trump unleashed the tariffs. š¤·