Trumpenomics
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@jon-nyc said in Trumpenomics:
Stellantis (parent company of Chrysler) lost over $2B thanks to Trump.
No, they lost $1B in directly attributable tariff charges. In all fairness, Stellantis had a drop of 70% from 23-24. Most of the losses so far this year is a continuation of the same drop they had last year.
Besides, aren’t the Tariffs ultimately paid by the consumer and not the company? Yet, new car sales are up 3% in the US this year despite the tariffs. And the US is only 20% of the global car market. Blaming the tariffs for Stellantis failings is lazy.
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It’s not just direct costs of tariffs, it included charges for shuttering plants in CA and MX and laying off workers in Michigan.
From AP:
Stellantis, the maker of Jeep and Ram vehicles, says its preliminary estimates show a 2.3 billion euros ($2.68 billion) net loss in the first half of the year due to U.S. tariffs and some hefty charges.
The automaker anticipates an impact of about 300 million euros for net tariffs incurred, and also expects planned production losses related to implementing its response plan.
The automaker provided preliminary financial figures on Monday after suspending financial guidance in April due to Trump’s tariffs. It also halted production at plants in Canada and Mexico in response to a 25% tax on imported cars, and it temporarily laid off 900 workers at plants in Michigan and Indiana.
Stellantis expects approximately 3.3 billion euros ($3.84 billion) of pretax net charges mostly related to program cancellation costs and platform impairments, restructuring and the net impact of costs related to emission standards. Automakers have been penalized if the average fuel economy of their annual fleet of vehicle production exceeds a certain level.
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The US Economy Was Supposed to Be in a Recession By Now. What Happened?
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The US Economy Was Supposed to Be in a Recession By Now. What Happened?
@Horace said in Trumpenomics:
The US Economy Was Supposed to Be in a Recession By Now. What Happened?
I have sincere doubts and disagreement with many of Trump’s policies. I am still a little amazed that things are still … not horrible yet.
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Look at that large downward revision of May and June's jobs data:
U.S. employers added 73,000 jobs in July, less than economists expected, and the unemployment rate rose slightly. The report on Friday also significantly revised down the data on hiring from May and June by a combined 258,000 jobs, suggesting the labor market was under greater strain than initially believed. ...
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You’d think I’d be numb to this by now. This is insane, but also predictable.
https://www.theguardian.com/us-news/2025/aug/01/trump-fires-erika-mcentarfer-labor-statistics
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Indeed. I stumbled into investing in Palantir in Jan 2023. It’s up 2100% now so I just sold 1/3 of it. The bubble will burst one day, I think their PE ratio is like 650 or something.
@89th said in Trumpenomics:
Indeed. I stumbled into investing in Palantir in Jan 2023. It’s up 2100% now so I just sold 1/3 of it. The bubble will burst one day, I think their PE ratio is like 650 or something.
Nice. Purchasing individual stocks is an inferior strategy to a well balanced mix of funds, except when it’s not.
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He’s doubling down on the 1500% cut in drug prices.
Someone asks Grok to explain:
A 1500% cut means reducing by 15 times the original price, e.g., a $100 drug becomes -$1400—you'd get paid to take it. Yes, that's a lot, but impossible without negative prices. Likely a misstatement; Trump's actual drug price reductions were more modest, around 1-5% annually.
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While I would expect one of the most prominent business people in the world, and in a business that is specifically tied into interest rates and percentages, I would expect better… But… When we are spending 1500% more on drugs than the Phillipines and 400% more than most European countries, I would expect that most of his voters get it…
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While I would expect one of the most prominent business people in the world, and in a business that is specifically tied into interest rates and percentages, I would expect better… But… When we are spending 1500% more on drugs than the Phillipines and 400% more than most European countries, I would expect that most of his voters get it…
@LuFins-Dad said in Trumpenomics:
While I would expect one of the most prominent business people in the world, and in a business that is specifically tied into interest rates and percentages, I would expect better… But… When we are spending 1500% more on drugs than the Phillipines and 400% more than most European countries, I would expect that most of his voters get it…
Besides, just think about the alternative.
Is it still better than the alternative? -
@LuFins-Dad said in Trumpenomics:
While I would expect one of the most prominent business people in the world, and in a business that is specifically tied into interest rates and percentages, I would expect better… But… When we are spending 1500% more on drugs than the Phillipines and 400% more than most European countries, I would expect that most of his voters get it…
Besides, just think about the alternative.
Is it still better than the alternative?@Axtremus said in Trumpenomics:
@LuFins-Dad said in Trumpenomics:
While I would expect one of the most prominent business people in the world, and in a business that is specifically tied into interest rates and percentages, I would expect better… But… When we are spending 1500% more on drugs than the Phillipines and 400% more than most European countries, I would expect that most of his voters get it…
Besides, just think about the alternative.
Is it still better than the alternative?Absofuckinglutely.
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@Axtremus said in Trumpenomics:
@LuFins-Dad said in Trumpenomics:
While I would expect one of the most prominent business people in the world, and in a business that is specifically tied into interest rates and percentages, I would expect better… But… When we are spending 1500% more on drugs than the Phillipines and 400% more than most European countries, I would expect that most of his voters get it…
Besides, just think about the alternative.
Is it still better than the alternative?Absofuckinglutely.
@LuFins-Dad said in Trumpenomics:
@Axtremus said in Trumpenomics:
@LuFins-Dad said in Trumpenomics:
While I would expect one of the most prominent business people in the world, and in a business that is specifically tied into interest rates and percentages, I would expect better… But… When we are spending 1500% more on drugs than the Phillipines and 400% more than most European countries, I would expect that most of his voters get it…
Besides, just think about the alternative.
Is it still better than the alternative?Absofuckinglutely.
I hate to be pernickity, but could you confirm that when you speak of "the alternative" you are referring to the election of President Kamala Harris, and not the earth being destroyed by a huge fucking meteor?
