Wall Street stocks tumble as investors fret over US economic slowdown • Hacker News Board

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

#41

Post by philk10 » Mon, Mar 10, 2025, 5:41 PM UTC

mempko wrote: post #18

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.

It's simple incompetence. The whole lot are economically illiterate. Musk is out there talking about the US going bankrupt. Trump is saying other countries will pay for the tariffs. It's mind numbing. This is why you can't have business people running a country. A country is not like a business or a household.

or have people that played business people on TV shows...

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

#42

Post by billy99k » Mon, Mar 10, 2025, 5:41 PM UTC

laidoffamazon wrote: post #16

billy99k wrote: post #9

Earlier quoted context omitted.

[flagged]

No, it was much better. Growth was solid for the entire tenure. Unemployment reached 50 year lows and prime age employment hit 25 year highs.

https://www.politico.com/news/magazine/2025/02/11/democrats-...

I will leave this here. I wish I could pin it. It's also very disingenuous to proclaim that the economy is 'terrible' and blame someone that's been in office for 2 months.

I'm not just going to assume ignorance on this topic, since HN seemingly has more intelligent people commenting here, but economic changes don't happen this quickly and are a direct result of the state of the economy prior to Trump coming into office.

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

#43

Post by JumpCrisscross » Mon, Mar 10, 2025, 5:42 PM UTC

mempko wrote: post #18

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.

It's simple incompetence. The whole lot are economically illiterate. Musk is out there talking about the US going bankrupt. Trump is saying other countries will pay for the tariffs. It's mind numbing. This is why you can't have business people running a country. A country is not like a business or a household.

> Musk is out there talking about the US going bankrupt

Musk is particularly dark—he was born in South Africa. He knows how this winds up. Yet he seems adamant to recapitulate the ANC’s corrupt playbook.

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

#44

Post by bparsons » Mon, Mar 10, 2025, 5:42 PM UTC

This is all looking like a strategy to intentionally depress asset valuations so that they can be acquired at fire sale prices.

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

#45

Post by ethbr1 » Mon, Mar 10, 2025, 5:42 PM UTC

JKCalhoun wrote: post #36

cyberlurker wrote: post #19

Earlier quoted context omitted.

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.

They're busy trying to pass a continuing resolution on Republican-only votes the keep the government open.

Because heaven forbid both parties compromise.

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

#46

Post by philk10 » Mon, Mar 10, 2025, 5:42 PM UTC

voidhorse wrote: post #40

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 in…

and being fed a diet of propaganda from Fox, FB etc

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

#47

Post by ChocolateGod » Mon, Mar 10, 2025, 5:43 PM UTC

JumpCrisscross wrote: post #33

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.

> The fact that Canada, Mexico, China and the EU haven’t banned Tesla imports yet is remarkable.

Why do they need to? They can just apply tariffs and let the consumer do it without the political baggage.

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

#48

Post by bparsons » Mon, Mar 10, 2025, 5:43 PM UTC

JumpCrisscross wrote: post #33

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.

They don't have to. Sales are falling off a cliff in all those places.

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

#49

Post by paxys » Mon, Mar 10, 2025, 5:43 PM UTC

The standard move is to hunker down for the next 4 years, keep buying low, and wait for Democrats to come back and fix things in their next term. The same cycle has repeated what, 5 times in the last 30 years?

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

#50

Post by mattmaroon » Mon, Mar 10, 2025, 5:43 PM UTC

JKCalhoun wrote: post #8

It'll be wild to see how Congress responds.

It's commonly said Presidents get 100 days in office to enact the bulk of their platform. It's an approximation, of course, but it's about then that the new-to-office approval rating bump starts to wane and Congress starts gearing up for midterms. We're about half way there.

If the economy is in bad shape in May, I would not be surprised if Congress intervenes on tariffs. The fear of being primaried by MAGA loyalists will become smaller than the fear of losing to the other party very rapidly if a tariff-induced bad economy is the result.

The constitution gives Congress the power, but they've delegated it to the President, which means they can take it back. They will if losing elections seems likely.