Trumpenomics

Horace

Hassett was on the interview circuit yesterday doubling down on how awesome and permanent the tariffs were going to be.

Anyway, the markets gave up the flash gains now. Not sure why.

Horace

Reading some stock forums over the weekend, a lot of people saying how they're moving their investments to cash. When someone does so in a 401k, they typically have to wait 30 days to move the money back into the market. I hope they don't get burned by this insanity. Even if the indices recover, people will lose money if they reacted disadvantageously to the panic. But it's difficult to call anybody stupid for reacting to this, and trying to keep their money safe. That's what Trump has wrought.

jon-nyc

Horace

Wow, whoever faked that just made a lot of money. I wonder if that's illegal.

jon-nyc

@Horace Typically it’s a time period before you can buy the same fund once you sell it. Maybe there’s a workaround for many by buying the Russell 1k rather than the S&P, or a managed stock fund.

jon-nyc

@Horace said in Trumpenomics:

Wow, whoever faked that just made a lot of money. I wonder if that's illegal.

Doctor Phibes

I think I've lost about as much money in the last week as my previous house cost.

Not to worry, though, because some guy who's worth 500 million and went to Yale says everything's going to be OK.

Of course, he can lose half his wealth and still afford to retire whenever the fuck he likes.

Horace

@jon-nyc said in Trumpenomics:

@Horace said in Trumpenomics:

Wow, whoever faked that just made a lot of money. I wonder if that's illegal.

I know the indices gave it back up, I just figure they were in a position to profit off a temporary move. Unless it was just a pure prank that went way more viral than anybody thought it would.

Anyway, that price action tells the tale of a bunch of "active traders" being very happy or very angry, all at the same time.

kluurs

Word is Trump is threatening to increase tariffs to China if they don't back down from their retaliatory tariffs. If I were China, I might say, "bring it on , fat boy."

kluurs

Skip to 1:13 in for the "good stuff"

Link to video

jon-nyc

kluurs

89th

lol

jon-nyc

He talks to a lot of CEOs.

jon-nyc

Seems like a good time to repost this.

Horace

Glenn Greenwald on the idea-swapping going on, as the pro- and anti-Trump sides spout their rhetoric.

If nothing else good comes of this, at least we can emerge with the free trade issue settled, to a greater degree than it had been. Trade barriers have been a bad idea on both sides of the aisle over history.