Trumpenomics

[Renauda]

Still no excuse for sloppy thinking on his part.

[jon-nyc]

Seeing a lot of this type of thing from business and finance types that voted Trump for the first time in 2024. They voted for him over wokeness, immigration, and Israel thinking the tariff stuff was mostly bluster.

Asness used to run the quantitative finance desk at Goldman before going in to start AQR Capital Management. He has advanced degrees in both CS and quantitative finance. Smart guy.

[Horace]

It's never been clear to me how anti-competitive manufacturing jobs are supposed to make america great again.

[xenon]

Maybe, just maybe…. Trump’s an idiot. It’s worth considering.

[Horace]

@xenon If he's obstinate enough about some sort of religious attachment to tariffs, that'll do till the real idiocy gets here.

[xenon]

I’m not saying it’s not a different flavor of incompetence.

[jon-nyc]

Fifth fasted correction since 1950.

[Copper]

@Horace said in Trumpenomics:

Stock market? More like drop market.

Not any more, today it is going up like a rocket!

Let's all celebrate!

Thanks to Mr. Trump!

[89th]

[Axtremus]

North Dakota went big for Trump. Now many farmers say they face an uncertain future

https://www.npr.org/2025/03/14/nx-s1-5320335/north-dakota-went-big-for-trump-now-many-farmers-say-they-face-an-uncertain-future

As they get bit by tariffs, the North Dakota farmers who voted for Trump may be experiencing "buyer's remorse."

[Copper]

@Axtremus said in Trumpenomics:

farmers say they face an uncertain future

Was there ever a farmer who did not face an uncertain future?

[Horace]

I’ll be worried if the tariffs don’t drop his poll numbers noticeably.

[NobodySock]

@taiwan_girl said in Trumpenomics:

@89th said in Trumpenomics:

"Tariffs are a tax a tax hike on foreign countries. Tariffs are a tax cut for the American people."

Press secretary has to be one of the worst jobs I would not want.

If you lie good enough, you can become governor of a red state the very next election.

[LuFins Dad]

@jon-nyc said in Trumpenomics:

Fifth fasted correction since 1950.

That’s great news! It means everyone is investing in bonds, which is huge since we’re raising our debt and pretty soon no other countries will want to buy it! Winning at 5D Chess!

[Jolly]

If you lie good enough, you can become governor of a red state the very next election.

Or you can run for POTUS in the 2028 Democrat primaries.

Helps if you're half dead. Bring your own bongos.

[jon-nyc]

Ha.

[Horace]

Good take from Larry Summers, starting at 9:30.

Link to video

[jon-nyc]

Funny how they never claimed the stock market was "overvalued" during the late Biden administration, the fall campaign, the transition, or even Trump's first month when he promised immediate prosperity.

But his tariffs cause a 10% freefall and suddenly "corrections are healthy."

[Horace]

There was always a fair case to be made that the market was overvalued (and continues to be). But that doesn't mean that this correction has anything to do with anything other than the chaos tariffs.

[LuFins Dad]

@jon-nyc said in Trumpenomics:

Funny how they never claimed the stock market was "overvalued" during the late Biden administration, the fall campaign, the transition, or even Trump's first month when he promised immediate prosperity.

But his tariffs cause a 10% freefall and suddenly "corrections are healthy."

That’s willfully ignoring many posts and links from @Jolly over that time discussing the real estate bubble and way out of proportion PE Ratios. There were discussions about why Buffett was holding so much cash, and several times there were links provided where Trump himself was stating there was a likely recession coming and he almost didn’t want the job because of the predicted downturn.

All that being said, as @Horace pointed out, we are all still blaming the current fall on the Trump Tariff Tangent, and it’s likely not a true correction. We will have to wait and see.