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Trump's Tariffs Wipe Out over $6T on Wall Street in Epic Two-Day Rout

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Re: Trump's Tariffs Wipe Out over $6T on Wall Street in Epic Two-Day Rout

#511

Post by petre »

toddmorey wrote: post #74
lreeves wrote: post #10

You know the craziest thing about watching this as an outsider in Canada is that we as a nation are losing one reliable trading partner (and obviously losing an ally but that's another conversation). Germany - losing a trade partner. Japan? And so on. But the US has lost 180 reliable trading partners. You're already seeing in the first week burgeoning trade alliances between nations who wouldn't have cooperated befor…

Very well put. Alliances take years to build but can be broken in just days. I'm tempted to think (hope? dream?) that the markets and trade will rebound if all this chaos makes American politics swing back towards an interest in global stability, but I think anyone partnering with the US would do so VERY carefully and right now the entire world is plotting how to remove US dependencies.

If you remember he blew up TTIP, TTP/TTPA during his first mandate.

Re: Trump's Tariffs Wipe Out over $6T on Wall Street in Epic Two-Day Rout

#512

Post by refurb »

gonzo41 wrote: post #184
owebmaster wrote: post #161

Earlier quoted context omitted.

> I'm tempted to think (hope? dream?) that the markets and trade will rebound if all this chaos makes American politics swing back The pump'n'dump scheme against Ukraine will forever change how small countries see the US support for democracy, even if it changes back to the previous status-quo.

The US treatment of Ukraine is having a massive impact on how everyone thinks about security. All the US had to do was supply it's old weapons to Ukraine whilst replenishing it's stock (creating jobs in America) and things would have been fine. Now we're all in a world were Europeans are openly talking about developing nuclear weapons. Taiwan is totally on it's own, and Greenland is worried about being annexed. There…

It sounds like you’re arguing for the military industrial complex.

“The Ukraine war is great because it creates US jobs through weapons manufacturing. Yeah, we might get our hair a bit mussed with the hundreds of thousands of deaths, but net-net it’s a win!”

Re: Trump's Tariffs Wipe Out over $6T on Wall Street in Epic Two-Day Rout

#513

Post by tetrisgm »

arcastroe wrote: post #457
tetrisgm wrote: post #365

Response from friends who voted for this because of Elon: “let them cook“. This doesn’t seem to shock them

do these friends participate in the market?

They do. I think it’s one of these beliefs vs logic things

Re: Trump's Tariffs Wipe Out over $6T on Wall Street in Epic Two-Day Rout

#514

Post by trentlott »

JackYoustra wrote: post #233
gU9x3u8XmQNG wrote: post #50

Earlier quoted context omitted.

100% agree with this perspective. It’s surprising how few others seem to note this. Thanks for posting it.

Why would shareholders want to tank the value of their shares?

Because they're wealthy enough to have separation between their 'existence' money and their 'power and status' money. Tank the country and they get to own a little sliver more of it. The cheese and clothes they buy don't change. Because they've got more than plenty.

Re: Trump's Tariffs Wipe Out over $6T on Wall Street in Epic Two-Day Rout

#515

Post by cloverich »

billy99k wrote: post #478
tock wrote: post #445

Earlier quoted context omitted.

America is the richest country in the world. That is the payback. Yet somehow the working class is screwed. People don't want to admit wealth distribution is the problem because that would make them "communists". It's an emotional response. I'm scared how far they take it.

"People don't want to admit wealth distribution is the problem because that would make them "communists"." If you are referring to taking wealth by force from people that earned it and giving to people that didn't earn it, yes it's 'communist'. There's nothing emotional about a methodology that has failed over and over again.

Communism is control of the economy via government owning the businesses. What you are describing is taxes in a free market system. They are not the same thing, and being convinced they are is the majority of the problem.

Re: Trump's Tariffs Wipe Out over $6T on Wall Street in Epic Two-Day Rout

#516

Post by refurb »

fracus wrote: post #29
lreeves wrote: post #10

You know the craziest thing about watching this as an outsider in Canada is that we as a nation are losing one reliable trading partner (and obviously losing an ally but that's another conversation). Germany - losing a trade partner. Japan? And so on. But the US has lost 180 reliable trading partners. You're already seeing in the first week burgeoning trade alliances between nations who wouldn't have cooperated befor…

Leopards eating a lot of American faces.

This type of comment is boring and doesn’t really advance the discussion.

I used to enjoy HN but it seems to have developed into these sorts of comments quite quickly.

Re: Trump's Tariffs Wipe Out over $6T on Wall Street in Epic Two-Day Rout

#517

Post by trentlott »

otterley wrote: post #414
tjbiddle wrote: post #337

Earlier quoted context omitted.

Buy the dip?

Most wealthy people’s wealth is in investments. If the value of the investments goes down, there are fewer resources to “buy the dip.” It doesn’t hold water as a theory. Basically robbing Peter to pay Paul.

I'm sure all those billionaires who paid Trump the $1m to grin behind him are dreading the impact on their groceries and upward mobility like the rest of us. Never forget that Trump and Bezos and Zuckerberg truly think of us first and wouldn't be so antisocial as to trade your family for a little bit more.

Re: Trump's Tariffs Wipe Out over $6T on Wall Street in Epic Two-Day Rout

#518

Post by trentlott »

ttyprintk wrote: post #491
JackYoustra wrote: post #233

Earlier quoted context omitted.

Why would shareholders want to tank the value of their shares?

Trump only owns one stock: a major portion of the parent company of Truth social. Nothing he’s done has caused that stock to rise or steady.

Yeah, the random memecoins he issued and the NFC trading cards were meaningless to him. He's only invested in Truth Social and The Constitution. That's why he's in such competition with the owner of Twitter and would never undercut his social media platform.

Re: Trump's Tariffs Wipe Out over $6T on Wall Street in Epic Two-Day Rout

#519

Post by bawolff »

walterbell wrote: post #496
bawolff wrote: post #469

Earlier quoted context omitted.

> As stated by the leadership of both Mexico and Canada, USMCA will need to be renegotiated to address issues identified by all three parties On the canada side, i think the issue identified that needs to be addressed is the US president being a dick. (I'm not being sarcastic here, that is my genuine impression. If you disagree can you cite a source for what issues canada wants addressed? Obviously times are a bit we…

Nov 2024 analysis, https://www.whitecase.com/insight-alert/north-america-prepar... > Some Members of Parliament have also advocated for increasing trade barriers on Chinese imports alongside the United States, which the Canadian government has recently begun doing unilaterally. Suggesting Canada could be interested in coordinating those China-related trade policy measures across all three USMCA members, Deputy Prime…

That doesn't seem to support canada wanting to renogtiate usmca. The best way of handling that issue is probably not renegotiation (its way too specific of a situation to write a clause into the agreement for). Furthermore, Chrystia freeland hasn't been deputy PM for four months now, and the situation has changed a lot since then (not to mention we also have a new prime minister since then). At the time of that statement i don't think there was much appetitie for renegotiating usmca.

Compared to now where our current PM is straight up saying "The old relationship we had with the United States, based on deepening integration of our economies and tight security and military cooperations, is over"

Re: Trump's Tariffs Wipe Out over $6T on Wall Street in Epic Two-Day Rout

#520

Post by cmurf »

walterbell wrote: post #501
cmurf wrote: post #436

Earlier quoted context omitted.

Supposedly they have a seasoned economic expert on staff, Stephen Miran. Is this guy a kook? It wouldn't surprise me, Trump had Laura Loomer at the White House and 1/2 an hour later three members of the National Secure Council had been fired. https://www.politico.com/newsletters/morning-money/2025/01/0... https://www.nytimes.com/2025/04/04/us/politics/trump-nsc-fir... A central problem with this administration is it'…

> Supposedly they have a seasoned economic expert on staff, Stephen Miran. Is this guy a kook? https://financialpost.com/news/stephen-miran-economist-trump... > Currently a senior strategist at Hudson Bay Capital Management LP and a fellow at the Manhattan Institute in New York City, Miran holds a PhD in economics from Harvard University and his dissertation advisor was Martin Feldstein, an eminent American economist…

We don't actually know if Trump's tariff strategy is Stephen Miran's strategy, nor do we know what Stephen Miran thinks of the strategy.

What we do know is that Trump disproportionately attacks people who criticize him, withholds security protection from them, and sometimes even sends mobs to have them assassinated.

It also took some time before Mark Esper told the public that Trump ordered that protesters be shot.

Therefore, I think it's possible we won't get Stephen Miran's honest assessment in the near future. We'll just have to wait and see.

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