Yes. The US will become hell. The West coast, however, will be chillin' with our homie Canada and we will take a good chunk of the country's GDP with us.
Conservatives wanted to own the libs but it's the libs that will own the conservatives in the end. Oh the Irony feels so good.
I really absolutely hope that Oregon, Washington and Canada can somehow combine and work with China, Mexico, and Canada to become something better and greater than the rest!
I’ve lived on the west coast for a long time. Man, I wish WISH that would work out somehow. But I’m genuinely not sure Canada would want any of us after all this
California's business alone is good enough to take the whole west coast. We also grow a lot of food and a lot of weed. Not to mention we are one of the most progressive states in the nation.
The double irony is there was a reason for the stock market to crash in '22. The supply chain disruptions, russians invasion of Ukraine and resulting sanctions, end of covid supports, increasing inflation were all world events that resulted in a market correction.
The stimmy checks didn't do much when you consider all the failures of his first term, even before covid. He had to double farming aid packages (bailouts) in his first year due to the retaliatory tariffs from china in 2016.
Jesus. I just looked and he has every one of the top 8 largest daily point drops in Dow history. To be fair to him (loathingly), looking at daily point drops rather than percentage drops does more heavily favor recent presidents. And also Covid was an especially difficult event. But the fact that you have to go to #9 to finally get a Biden day is....honestly impressive.
Oh, and by the way? If you switch to daily percentage drops, he has 3 of the top 20 and Biden has none.
no deadass so many economists literally said this would happen. COVID was hell and Dump also didn’t really take charge of that until it was too late so our economy suffered. we actually did alright in the past years of building it back up
Given China is, so far, the only one to announce retaliatory tariffs, I fully expect the rest of the non-Trump world is colluding to layer on the impact...
Ursula von der Leyen's calling up Shigeru: "Ok, Shigeru-san, we announce Monday, you go Tuesday...I have word from the Aussies they're going to announce Wednesday"
Meanwhile in California, we are negotiating our own trade contracts with other countries. Is it unconstitutional? Yes. Is everything else going on unconstitutional? Also yes. Fight fire with fire.
How would that work? What would be the incentive for other countries not to tariff Californian goods?
I'm hearing talks of the EU considering using the Anti-Coercion Instrument if things escalate. They would go after your entire services industry and tech sector by putting restrictions on trade in services and limits on trade-related aspects of intellectual property rights.
Basically, Silicon Valley would be hit extremely hard if things continue to escalate.
Yes but it just so happens we have the largest port for Chinese goods and a very easy path for Mexican and Canadian goods. I don't know if it's even possible, but a deal outside of the fed, much like how our entire marijuana industry operates, would be really interesting.
Hilarious that it's not "Trump announcing random tariffs on EVERYONE at the same time based on our running deficit with them" or even "China announce retaliatory tariffs".
This, folks, is how Fox News keeps winning. We run THEIR headlines which are intentionally worded to convince their team that Trump isn't the ONLY reason this happened.
The real headline should read "Dow Drops nearly 2000 points, two days in a row, because Trump personally directed tariffs be placed on every country except Russia and North Korea"
Don’t worry, it gets stupider. Their justification is there’s virtually no trade between the countries, but multiple completely uninhabited islands had tariffs placed on them. Also, the US literally had a trade deficit of 2.5 billion with Russia last year…
I haven't tried it, but apparently the formula and variables the Trump team used and falsely labeled as tariffs (they are a trade deficit divided by two), are reportedly what ChatGPT gives you if you ask it to generate a new tariff policy. We are so screwed.
I shit you not, at one point today I checked Fox to see what they headlines would be and there were no main articles covering the crash or tariffs but there was one that revolved around Trumps golf game...
In addition to yesterday and just wait until next week! Trump really messed this one up! What I have in the market is just vaporizing and I have not even spent a dime since this all happened. The ole wallet just got much more tight!
You and me both brother. My 401k and Roth are down about 25k, my stocks are down about 10k.
I have small bi-weekly recurring investments in SCHD and VOO. Other than that I am not doing a damned thing. I believe in my long term plays but it’s stressful man. I want to sue Trump for causing me personal distress.
I’m just holding on with my job and licking all the boots I can to make myself as critical and as much a team player as possible. It’s a defense contractor so that’s either hit or miss with this administration.
I worried this fool would get crazier. Moved most of it to Euro index funds a few weeks ago. Down 2.7% vs the small amount I left here & that’s down 10%.
That's basic the only thought my brain has been able to form today. This is only the first country to announce retaliatory tariffs. There's a couple hundred more and some uninhabited islands to go lol
Their website says it all. They still have a stock ticker but it's in the top right corner, very small, only shows percentage drop and it rotates quickly through the three major indexes.
Their top article is about some legal battle with an impeachment judge. Scroll down about two pages and buried in the middle of a bunch of articles is one story related to 2000 point drop. I'm not kidding here. A story about a massive alligator is higher on the page than a 2000 point drop in the market.
CNN and MSNBC on the other hand both have the stock market front and center.
There's a reason people are talking about the Great Depression alongside this latest round of tariffs. I don't think the US stock market is going to be able to "bounce back" from another Great Depression. Unless we're talking geological timescale.
Not to mention unlike the usual boom / bust cycle of business environment, this is entirely artificial and self-inflicted, which means the duration to bounce back could be a lot longer due to uncertainty with the regulatory environment.
This isn’t a typical stock market overvaluation thing that will eventually bounce back. Tariffs are super destructive to corporate valuation and unless set back to normal will continue to slam down the stock market. Trump is getting his advice from idiots. Like did he really think no one would retaliate against American companies? They will get crushed when they import and crushed when they sell outside the US. It would take years for American companies to allocate their investments to allocate their manufacturing to the US, and even if they did this is in large part low value work that is done more cheaply in other countries. Doing it here will push all of our prices up and our wages down.
I mean, it might bounce back after all the other countries announce reciprocal tariffs, Trump backs down off his tariff nonsense to stop things from going to great depression levels of wrecked, and then claims he won something in the deal. I'm kinda expecting that next Tuesday or so. But if he doesn't, we're mega fucked long term
Trump is still so butthurt he lost to Biden in 2020 he not only wants to undo all the work done during his term, he wants to bring the market back to where it was in 2019 so there’s no trace of Biden’s presidency.
This is what I told my friends. It must piss him off that not only did he lose to Sleepy Joe but the markets hit an all time high during Joe’s presidency. This clown is crashing the US economy because he’s an insecure bitch boy.
It's all about the framing. It's all China's fault for making up tariffs for absolutely no reason at all whatsoever this definitely isn't me being sarcastic what do you mean.
It was Biden's fault yesterday.Probably be the middle class on Monday, COVID on Tuesday, and penguins in Antarctica by Friday. The fact he still has any supporters is mind boggling.
We’re finally going to stick it to the rest of the world that has been TAKING ADVANTAGE of us for the last 1000 years!! Anything short of indentured servitude is unacceptable!
He’ll burn this whole country down and everyone in it before ever backpedaling or ever admitting he made a mistake. To him, that is weakness akin to death.
Even if the economy rebounds and enters “a golden age,” he never once indicated who it will be a golden age for. Who exactly he is making America great for. It will be great for the ultra-elite who can buy the piles of rubble up for cheap when the economy collapses, and then they can all ride it back to the top when it rebounds and rake in billions. The remaining 99% of the country will be left out in the cold. When asked what they are to do with average every day Americans, they’ll simply say it’s not their problem and we need to go get a job at McDonalds and stop complaining.
This is going to get so much worse before it ever gets better.
Donald Trump has never, ever, once, a single time, even come close to admitting he made a mistake, or did something wrong, or bad in any way. It's everyone else who is wrong. This is of course a HUGE red flag for people in real life, it's sociopathy and narcissism but people give a pass to him for some reason.
ELI5 - what does a recovery look like? Would the American markets correct over time if 47 was pressured to remove the tariffs? How long would that take? I suppose the leading question on my mind is how much of this is 'irreversible'?
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u/Vossky 1d ago