But I thought Trump was going to make the economy great again /s 🤣
He’ll issue an executive order establishing that the market can only go up
He disbanded the US government agency that develops the annual GDP numbers. Guess how they’ll figure those out next year?
If you guessed “we’ll make some up that are higher than last year” then you’re spot on.
I mean for the longest time it only has gone up… And that’s not sustainable
https://www.macrotrends.net/1319/dow-jones-100-year-historical-chart
If it’s representing value produced by a population, and that population is both growing in numbers and finding ways for each person to be more productive, it makes sense for the index to go up. The current drop in stock markets is not related to either population decline nor to some widespread productivity hit, meaning sustainability isn’t the problem at hand.
Ultimately, it’s a numerical abstraction. A number can always go up. It does not mean it’s materially better than the number from last year, just that the number is bigger. When inflation goes high but people’s investments do not, that indicates bad stuff.
If inflation and wages and investments and savings all go up consistently, it’s not necessarily unsustainable, it’s just quirky math.
I think he’s doing this deliberately. Encourage people to sell, so his buddies can scoop up stocks at low prices.
it’s so much more than stocks. stocks are mostly vibes and short term get rich schemes for already wealthy people. they’re Pokemon cards for the finance class, creating almost nothing tangibly beneficial to society. hype and FUD in an endless cycle.
you can’t eat stocks. you can’t warm your house with stocks. you can’t manufacture solar panels with stocks.
real wealth, the serious fuck you Big Money, depends on the ownership and distribution of real resources: real estate, agricultural land, factories, pipelines, commerical buildings, capital infrastructure. these are what the ultra wealthy buy up during recessions and then charge rents and leases for everyone else to pay, forever. forget about owning land or a home, your kids can’t compete with someone paying cash on a 600k house or snatching up entire portfolios of hundreds of rentals in a single purchase.
bailouts and blank checks given out as PPP loans to “business owners” during Covid redistributed wealth from the taxpayers (government) into the hands of the wealthiest people in the world. they can then convert their Pokemon collections into real wealth generating resources. government bailouts to corporations become an engine for not just making the rich richer but the types of assets they then acquire using that money cements them at the top of the wealth generation food chain forever.
Trump 2.0 is engineering another massive redistribution, even bigger and more focused on real estate than before. he made his fake reputation on real estate. loyalist oligarchs who bank rolled dark maga will be handsomely rewarded with the newly emptied government office buildings and public lands.
and your kids and grandkids will be homeless.
yup, I’d buy apple or microsoft or nvidia because they are going down now but will go up certainly in 1 or 2 days or even weeks/months. Except tesla, this one will go down and down and down for days/weeks/months, tesla stock is super toxic, dump all of it.
One of the things almost no one talks about is how the prices of luxuries has totally outstripped inflation.
In 1960, minimum wage was $1.00/hour, the average US home was $11,000.00 and a big night on the town was $20.00 for dinner and a show for two people, with drinks and car fare thrown in. Pizza and beer at home was $1.00. A ticket to the first Super Bowl was under $20.00.
Everyone here mentioning billionaires and missing the point that the Russian agent in charge is just doing his best to deliver any and all assets to Russia. Sanctions getting lifted just as the fire sale on American assets begins right before the civil unrest. If you’re a Russian dictator you could not have planned it better. Republicans are seriously the dumbest mother/sister fuckers on the planet. I can’t even believe how fucking stupid you’d have to be to hold “conservative views”. Like it does not compute how you can be that dumb
Recession speed run.
Only if we’re on the any%, this is looking like a 100% run so more like ‘Depression’
This is going to be the second Great Depression.
It is going to impact the entire world.
Notable differences from the last Great Depression:
Many countries have many nuclear weapons.
Something like 6 billion more people exist.
Climate change is accelerating, and this will make food more expensive everywhere, as opposed to a regionalized Dust Bowl, as well as causing more frequent and more severe natural disasters basically everywhere… and the more time passes, the more expensive it will be to mitigate this.
Perhaps also worth noting:
Japan argued the US’s oil embargo on it as functionally a declaration of economic war.
History is replete with examples of embargoes and massive tariffs being considered a justification for escalating a trade war… to an actual war.
