r/Wellthatsucks • u/CorleoneBaloney • 2d ago

The Dow drops 2,000+ points after China retaliates against Trump’s tariffs

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u/Repa24 2d ago

Tbf, it will bounce back, but no one knows when. And surely not while Trump is destroying the economy.

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u/Tommy__want__wingy 2d ago

Of course it bounces back.

But the drop and immediacy of the drop is nothing that can be defended.

This hurts the middle class.

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u/lolTAgotdestroyed 2d ago

how does it hurt the (practically non-existent, now) middle class? who it really effects (assuming you don't have enough $ in stocks to borrow against) is anyone who planned on retiring the next couple years

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u/Castod28183 2d ago

is anyone who planned on retiring the next couple years

Otherwise known as the middle class. If you have a house paid off and a sizable retirement account that allows stable financial security you are basically the definition of middle class.

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u/lolTAgotdestroyed 2d ago edited 2d ago

the overwhelming majority of americans do not own their homes though, unless you just mean working class in general, in which case...well...they won't be much longer.

the latter isnt middle class though

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u/joshTheGoods 2d ago

It hurts the middle class in a bunch of ways:

  1. The products they buy are more expensive, now they have less money to save or blow
  2. The companies they work for are hurting, and that gets people fired and depresses wages
  3. The companies that support the companies they work for are now hurting, and that gets people fired and depresses wages
  4. Their retirement financial vehicles all just took a big hit, and this is the exact time people might get desperate and pay the taxes to drain their depreciated savings

There are a ton of ways this is hitting people all the way up and down the wealth distribution. The only exceptions are people that have a ton of liquid assets and can afford to buy all the way down and then back up again (hopefully), and that's not the middle class.

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u/officiallyaninja 1d ago

it hurts a poor a hell of a lot more. How many people are going to end up homeless because of this?

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u/MisterMittens64 2d ago

It will be even longer if our previous trade partners cut the US out of the global economy.

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u/mybrainisgoneagain 2d ago

They don't have to he's doing a good enough job as it is

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u/tadghostal55 2d ago

Also those high prices are not going back down

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u/kookyabird 2d ago

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.

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u/Castod28183 2d ago

I mean...The last time there were tariffs of this magnitude WAS the great depression.

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u/kookyabird 2d ago

Exactly.

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u/DonutsMcKenzie 2d ago

Don't assume that things can't or won't get worse than they are now. There are plenty of civilizations that didn't bounce back from being ruined. This is about so much more than the fucking stock market.

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u/lkn240 2d ago

There's no guarantee it will "bounce back". This kind of idiocy is absolutely going to do permanent damage. Even if the adults get back in charge no one is going to trust the US again for a very long time

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u/HeavyMain 2d ago

agent krasnov and his elite buddies know when, it's when they drop the tariffs again so they can buy low and sell high, again. we just saw this for months while he flip-flopped on deciding if canada was his worst enemy or not, announcement, cancel, announcement, cancel, etc.