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.
SP500 is already down 10% in the last month
Wall Street stocks tumble as investors fret over US economic slowdown
61–70 of 287 posts
Re: Wall Street stocks tumble as investors fret over US economic slowdown
#62This 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.
The administration is trying to definancialize the economy. Everything points in that direction, from tariffs to foreign policy moves that would reduce the dollar’s status as a reserve currency.
Re: Wall Street stocks tumble as investors fret over US economic slowdown
#63This 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.
Both, they're incompetently trying to pull a big scam. It's said that Trump did a lot of shady stuff in real estate, same for musk .. so they probably thought they could sell cutting everything federal as a 'new american age' while ensuring massive profits on the sell-off.
Sometimes I worry that, somehow, their reckless actions land onto a tangibly visible positive outcome, and they would brag about it until they die.
Re: Wall Street stocks tumble as investors fret over US economic slowdown
#64Earlier quoted context omitted.
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.
This is the common narrative but you have to ask yourself why it makes sense, because it doesn't. Interest rates going up doesn't hurt everyone, some benefit! Interest rates going up benefit savers and hurt debtors. A lot of the large companies that laid people off had huge amounts of cash reserves and benefit from higher interest rates.
These were highly profitable companies laying people off. Neither over-hiring or interest rates explains this. What does explain it are sudden increase in costs (like taxes).
Re: Wall Street stocks tumble as investors fret over US economic slowdown
#65Earlier quoted context omitted.
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.
The compromise between fucking insanity and good governance is not agreeing to go half way into fucking insanity.
Meeting an unreasonable person half-way is giving them a blank cheque to become more unreasonable.
All it does is tell them that you're a sucker.
Re: Wall Street stocks tumble as investors fret over US economic slowdown
#66Peter Navarro is the big driver of Trump's economic approach (and he's a mercantilist quack):
https://hatchetmedia.substack.com/p/the-man-behind-trumps-wa... (podcast with Justin Ling, a great independent journalist)
and https://www.bugeyedandshameless.com/p/beggar-thy-neighbor-be...
Re: Wall Street stocks tumble as investors fret over US economic slowdown
#67This 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.
My neighbours and I have been buying up cropland on the cheap as a result of the trade war. As an ethical move, we’re only buying in Trump-voting counties from registered Republicans. But at the end of the day, there is massive pain in that sector, particularly among soybean farmers and dairy farmers close to Canada, and it’s directly attributable to Trump.
Re: Wall Street stocks tumble as investors fret over US economic slowdown
#68Tesla 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.
But he continues doing what he started. Considering the fact that he is very smart and definitely hungry for absolute power, you can think about his true goal. If he is ready to risk that much of his worth, it means that the potential win for him will bring so much more.
You mistake IQ for judgement.
They are related but distinct.
Re: Wall Street stocks tumble as investors fret over US economic slowdown
#69Earlier quoted context omitted.
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.
Yeah, I think Tesla would be in approximately the same position if Elon never jumped into the political fray. Their market cap has been beyond ludicrous for years. Any slowdown in sales was due to crater the stock.
The Cybertruck is a turd, driverless cabs seem still not that close. The early adopters all have EVs and sales growth as a whole has plateaued. Other automakers have greatly improved their offerings, and Tesla's vehicle quality and fit-and-finish have both remained poor. The EV tax credits are probably going away soon.
One doesn't have to tip the scales against them at the moment.
Re: Wall Street stocks tumble as investors fret over US economic slowdown
#70This 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 intentional. Anyone thinking otherwise hasn't been listening to Treasury Sec Bissent talk these last two months. The goal to lower prices is to "increase supply and lower demand," and yes that's a direct quote. You don't lower demand by asking people to stop buying things. You lower demand by reducing people's ability to buy things.
I mean, sure, inducing a recession works for lowering prices, but it's freaking stupid and makes people poorer.