Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Wall Street stocks tumble as investors fret over US economic slowdown

ft.com

Post reply on HN
Print view View original

31–40 of 287 posts

Re: Wall Street stocks tumble as investors fret over US economic slowdown

#31

Post by lillecarl »

JumpCrisscross wrote: post #23
billy99k wrote: post #9

Earlier quoted context omitted.

[flagged]

> last administration wasn't much better..lol. Lots of layoffs and a general down turn of the economy San Francisco tech saw layoffs. The rest of the economy saw job growth every single month [1] and real GDP growth every quarter except Q1 ‘22 [2]. To the extent there was a fly in the ointment it was a cost-of-living crisis, and Trump seems intent on driving that into overdrive with his tax increases. (Pronounced tar…

Honestly though, as someone from Sweden my belief is that you guys could pay a bit more in tax to get social services functioning across the country again.

But not the way these muppets are doing it and all other stupid things they're doing.

Re: Wall Street stocks tumble as investors fret over US economic slowdown

#32

Post by hiddencost »

JKCalhoun wrote: post #11
voidhorse wrote: post #7

This administration is either intentionally performing market manipulation or is simply incompetent. Either way, we all lose. Hope the general populous is happy with their choice, lol.

I don't know — depending on if it gets bad enough, last time we got a New Deal out of it.

We got a world war out of it as well

Re: Wall Street stocks tumble as investors fret over US economic slowdown

#33

Post by JumpCrisscross »

BenFranklin100 wrote: post #22

Tesla stock has been particularly hammered. Ontario apparently cancelled a Starlink contract and Italy is considering to do so as well. Musk’s political antics are affecting his businesses.

The fact that Canada, Mexico, China and the EU haven’t banned Tesla imports yet is remarkable. I’d expect that plus additional registration charges on premium vehicles, especially Cybertrucks, within a year if this continues.

Re: Wall Street stocks tumble as investors fret over US economic slowdown

#34

Post by wahern »

mempko wrote: post #27
billy99k wrote: post #9

Earlier quoted context omitted.

[flagged]

You do realize the layoffs in the tech sector were because of Trump's tax cuts right? There was a provision that kicked in 2022 that made engineers more expensive. Companies could no longer expense engineers the way they did before and had to amortize their cost over 5 years. Startups were especially hit hard with higher tax bills. This is why politics matters folks. Always read the fine print.

That may have been part of it, but over hiring during the pandemic plus the disappearance of cheap money with increased interest rates had at least as much to do with it.

Re: Wall Street stocks tumble as investors fret over US economic slowdown

#35

Post by Trasmatta »

jghn wrote: post #24
Trasmatta wrote: post #3

Remember, this is the president that won largely because of people's dissatisfaction with inflation, and his promises to "fix" the economy. Instead, he's decided to wage a pointless trade war that nobody asked for, and came out yesterday essentially saying he's totally okay with a recession coming out of it. The only thing more absurd is the fact that some people didn't see this coming. He signalled everything that h…

You're not wrong. And yet he's polling well. And as long as people poll surface level questions like "do you like that he's cutting things?" he gets general support. Drill into specific topics item by item and it's a bleaker picture however. But that's how these things always go, like the ACA for instance.

He's still in the honeymoon period for approval ratings. Even given that, he's barely above water.

Re: Wall Street stocks tumble as investors fret over US economic slowdown

#36

Post by JKCalhoun »

cyberlurker wrote: post #19
JKCalhoun wrote: post #8

It'll be wild to see how Congress responds.

We’ve been waiting for Congress to respond for weeks. I wouldn’t hold your breath.

With talk of a anticipated 10% to 20% drop in the markets, their silence could be ruinous.

Re: Wall Street stocks tumble as investors fret over US economic slowdown

#37

Post by __loam »

softwaredoug wrote: post #14

After the election I know Canadian and colleagues from other countries thought of moving to US for an easier time building a business. Curious if anyone from the founder / small business crowd has had this feeling and either is still interested/happy with such a move? Or regretting it? IIRC Culturally it was said by many that the US is much better that EU / Canada for building a business as US rewards ambition. While…

If the economy crashes I hope we can put a stake through the heart of the obsession with founders.

Re: Wall Street stocks tumble as investors fret over US economic slowdown

#38

Post by JumpCrisscross »

lillecarl wrote: post #31
JumpCrisscross wrote: post #23

Earlier quoted context omitted.

> last administration wasn't much better..lol. Lots of layoffs and a general down turn of the economy San Francisco tech saw layoffs. The rest of the economy saw job growth every single month [1] and real GDP growth every quarter except Q1 ‘22 [2]. To the extent there was a fly in the ointment it was a cost-of-living crisis, and Trump seems intent on driving that into overdrive with his tax increases. (Pronounced tar…

Honestly though, as someone from Sweden my belief is that you guys could pay a bit more in tax to get social services functioning across the country again. But not the way these muppets are doing it and all other stupid things they're doing.

The Trump agenda is to lower taxes on millionaires like me by cutting Medicaid to the poor and raising grocery-store prices with regressive tariffs. All of the other crap is basically distraction getting slapped down in the courts.

Re: Wall Street stocks tumble as investors fret over US economic slowdown

#39

Post by [deleted] »

softwaredoug wrote: post #14

After the election I know Canadian and colleagues from other countries thought of moving to US for an easier time building a business. Curious if anyone from the founder / small business crowd has had this feeling and either is still interested/happy with such a move? Or regretting it? IIRC Culturally it was said by many that the US is much better that EU / Canada for building a business as US rewards ambition. While…

[deleted]

Re: Wall Street stocks tumble as investors fret over US economic slowdown

#40

Post by voidhorse »

Trasmatta wrote: post #3

Remember, this is the president that won largely because of people's dissatisfaction with inflation, and his promises to "fix" the economy. Instead, he's decided to wage a pointless trade war that nobody asked for, and came out yesterday essentially saying he's totally okay with a recession coming out of it. The only thing more absurd is the fact that some people didn't see this coming. He signalled everything that h…

> The only thing more absurd is the fact that some people didn't see this coming. He signalled everything that he's doing now during his campaign, over and over.

Right, I think it's less that they "didn't see it coming" and more so a basic lack of understanding around how anything works and a complete trust in perceived wealth and authority.

The vast majority of people I know that fell into the camp of voting this into power follow a basic equational logic of "he is a (presumably) wealthy businessman he must know about how to manage money, therefore he can fix the economy" that's literally the entire depth to which they go. There's zero investigation into the validity of the premises, no question of the (ridiculous) assumption that governance must be exactly like running a business, no concern over the kind of business the person has background in... etc.

I'm sure there are exceptions to this, but I'd also be confident conjecturing that, for a huge number of people, this basic, shallow, completely flawed argument is precisely why they made the choice that they made. That and a pervasive inability to recall what things were like a mere four or so years prior.

Post reply on HN