Trumpenomics

[Renauda]

Sooner or later all autocrats succumb to pathological paranoia. In Trump’s case it is sooner rather than later.

[Horace]

Rebuilding wealth, by intentionally destroying trade relationships which were creating wealth for every American with any economic skin in the game.

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@realDonaldTrump

Since our announcement of LIBERATION DAY, many World Leaders and Business Executives have come to me asking for relief from Tariffs. It’s good to see that the World knows we are serious, because WE ARE! They must right the wrongs of decades of abuse, but it won’t be easy for them. We must rebuild the Wealth of our Great Country, and create true RECIPROCITY. But for those who want the easiest path: Come to America, and build in America!

[89th]

It's like a bully on the playground saying "many kids have come up to me asking for relief from my wedgies!"

[jon-nyc]

I think this would be funnier if I knew the movie reference.

[Horace]

Always Sunny in Philadephia, TV show. I bought the first few seasons. It's very funny.

[jon-nyc]

From wsj:

[Axtremus]

Who are those two green arrows?

[Horace]

Another bloody day today for the nation’s retirement accounts.

[xenon]

Doubly frustrating considering that the world economy was headed in the right direction. World stock markets were trending up, and the US usually beats them.

So, we're down when we should have been up.

Even more frustrating - it'll take months for this to really percolate through to "Main Street", at which point it might take even more months to unwind it.

[Doctor Phibes]

Unlike Jesus, the person who had the second largest impact on religion, my 401K is not risen.

In fact, it appears to have been left to rot on the cross.

Still, not to worry, eggs are no longer 10 dollars a dozen, so we're in fucking great shape.

#Americancarnage

[Horace]

I'm going to save upwards of $20 this year on eggs, compared to Biden's prices. No word on how much my retirement has been drained in the time it took to write this post.

[Doctor Phibes]

Also, nobody who isn't a billionaire will be able to afford gender reassignment surgery, so that's another problem solved.

[jon-nyc]

@xenon said in Trumpenomics:

Doubly frustrating considering that the world economy was headed in the right direction. World stock markets were trending up, and the US usually beats them.

So, we're down when we should have been up.

Even more frustrating - it'll take months for this to really percolate through to "Main Street", at which point it might take even more months to unwind it.

[Doctor Phibes]

All that Trump gaslighting about how badly America has been treated is really paying off.

[Horace]

With the market's gradual acceptance that shit is getting real and Trump really does plan to torpedo the glorious normal that used to be, gold has finally decoupled from the stock market. Used to be that this alleged hedge, just moved more or less in line with the market. But now it's not just a fun asset, it's an actual hedge against catastrophe, and it's moving up with the market moving down.

[Doctor Phibes]

@Horace said in Trumpenomics:

With the market's gradual acceptance that shit is getting real and Trump really does plan to torpedo the glorious normal that used to be, gold has finally decoupled from the stock market. Used to be that this alleged hedge, just moved more or less in line with the market. But now it's not just a fun asset, it's an actual hedge against catastrophe, and it's moving up with the market moving down.

I'm sure there's a joke in there somewhere about shit getting real and golden toilets.

[jon-nyc]

The DOW has dropped 1000 points 11 times in history.

4 of those have been since “Liberation Day”

Granted 1000 pt drop today is way different from 1000pt drop 20 years ago, but still.

[89th]

@Horace said in Trumpenomics:

Always Sunny in Philadephia, TV show. I bought the first few seasons. It's very funny.

Yeah it's a really great show. Unlike anything else on TV and it's actually the longest running live-action sitcom in TV history (since 2005).

[89th]

@jon-nyc said in Trumpenomics:

The DOW has dropped 1000 points 11 times in history.

4 of those have been since “Liberation Day”

Granted 1000 pt drop today is way different from 1000pt drop 20 years ago, but still.

Yeah the "points!" headlines never make sense to me. It's all percentages, baby.

[jon-nyc]

The entire Covid Crash of 2020 lasted 1 month and 3 days and wiped $7 Trillion from the US Market.

$6.5 Trillion was wiped from the market this year in April over 2 days alone.