Fuck. We are doomed

[u/Soft_Cable5934]

[u/Dalcoy_96]

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. 🤷

[u/InvertebrateInterest → u/Dalcoy_96]

He couldn't believe Trump did...*checks notes* what he said he would do?

[u/Clever_droidd → u/InvertebrateInterest]

To be fair, he has a history of bluffing and outright lies. Clinton isn’t in jail (yet) and the border wall, not only isn’t built, but Mexico didn’t pay for it.

On tariffs, he threatened them then postponed them. On 4/2, “liberation day”, the market was green until he showed that big beautiful chart around 3:25 est. The market didn’t 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, he’s going to move the goal post again.

Here is what the market didn’t 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.

[u/veerKg_CSS_Geologist → u/Clever_droidd]

The funniest was Vietnam, which had tariffs of 2-3% on US Goods, getting hit with 45% “reciprocal” tariffs. 😄