Link to archived tweet
Is there any chance for a future where the economy that matters, real people’s lives, production of useful goods and services, becomes decoupled from imaginary evaluations of billionaire’s gambling results? It really rustles my jimmies when I hear that a result of some banksters bet can get working families evicted and jobs dissapear.
This is why Warren buffet pivoted to cash liquid position.
That guy pours over countless documents and stats to make his moves. He probably knows what he’s doing more than most when it comes to predicting market turns.
I mean I feel like a recession is inevitable, but I’m just some random guy.
However much pain we’re feeling and will be feeling, as a nation not individuals, we deserve oh so much more for our inhuman crimes in the name of capitalist private profit. We destabilized entire nations trying to become societies solely to maintain access to their resources for our capitalist’s exploitation.
Every American better hope nation state karma doesn’t exist.
Oh fuck off with this “deserves” bs. Everything listed on that infographic happened before I was 18. I don’t “deserve” any of this.
Yeah you do.
We’ve seen your browser history.
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Not just the great depression but the greatest depression ever in history, I mean the biggest, noone ever caused a bigger depression
is america great again yet? I think not.
You need to extend the graph beyond January. The US has been riding an enormous localized wave that crested shortly after Trump’s inauguration. American securities (particularly the MAG7) are enormously overvalued, with revenue that is dwarfed by their stock price.
This is a much-needed market correction, not a regional stock performance split from within the US.
Not even suggesting Trump isn’t shit. Its very obvious that he’s popped the irrational optimism bubble we’ve been gliding on since even before COVID hit. But we were in a bubble. DOW 43k, never even mind the absurd NASDAQ run up, is not representative of the functional economic capacity of the nation as a whole. Without unlimited free money from the Fed to keep inflating asset prices, we were going to enter a downturn sooner or later.
The real question is whether the DOGE Team will kick the knees out from under our Treasury/Fed countercyclical spending system on the way back to earth and cause us to land harder than necessary.
I am pretty sure trump warns his friends when he is about to make another irrational stupid statement- they are investing accordingly- taking advantage of an upswing and a downturn
Absolutely wild to look at this graph and say ‘welp that’s the correction we’ve expected and needed for a long time’ when it is quite clear it’s a reaction to Trump’s totally unnecessary trade war and the uncertainty he is (intentionally?) injecting into markets. There is no reason to expect that if there had been a different President elected, this outcome would have occurred.
The even broader point is that there are a lot of people invested (literally and emotionally) in a continuing bull run. That doesn’t mean it’s a good idea, but suggesting that Trump or even less likely, DOGE have some master understanding of the economy and are doing this for its long-term health is an absolute fantasy.
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I don’t always agree with them but you make such a compelling argument…
Okay, here’s my conspiracy theory…
Now let’s say you’re Trump and the supreme Court has said it’s just about impossible to convict somebody of corruption in the US. You see that you’re going to be elected president and your goal is to figure out how to make a crap ton of money off being present. Now you can do the boring old s make dignitaries stay at your hotel thing or have foreign governments. Give Jared kushner a bunch of money… But that’s all pocket change. If you’re president, you can crash the economy. If you know a bunch of Rich Russian oligarchs who can short the market and you can tell them exactly when the market will crash then they can make billions… And you can get your cut too.
This is why Trump doesn’t really give a shit why the tariffs are in place. That’s why he makes up bullshit answers when asked why the tariffs are implemented. He doesn’t care. … But he really really really wants to yank the market around. First he says tariffs happening, then he says they’re not, then they’re happening again. Every time the market goes up and down he can make a shit ton of money if he can accurately predict when it goes up or down.
I can’t get this idea out of my head. It makes more sense than anything else I can come up with. There’s so much money to be made if you have the power to yank around the u.s. economy and enough narcissism to not give a shit about the people hurt in the process.
Exactly what I have been thinking. I should have scrolled down and read your comment before I made mine
What I’m wondering when reading such theories is: does money matter all that much to these people? Like when you’re 80+ years old and a billionaire I don’t see what the end game there is, unless it’s just an uncle Scrooge attitude but I still find it a bit hard to believe. I think that in order to become a billionaire you need to be seriously driven by something more than 0s - maybe power, influence or attention.
You’ve got to step back a little to understand.
The key thing is that it is not possible (excluding inheritance) to become a billionaire without being a scheming psychopathic cut-throat selfish person and having a determined drive to have power over others.
The second key is it’s not possible to keep your billions without being a psychopath. This because you could never possibly spend that money in your lifetime and the only way to have accumulated it is through exploitation of labour.
So it’s a thing you don’t need that you got via abusing others. They want power and they don’t care how they get it. They have no plan beyond that. Personally I think it’s mental health issues and the fact that we allow this in our flawed system.
it’s not just allowed it’s encouraged, in fact i’d go as far as to say it’s the only way to “win” in this system
It’s not wealth hoarding, it’s wealth OBSTRUCTION as a means to control everyone. It’s pathological fo sho.
Logically you would think the answer should be that money shouldn’t matter much, but it always seems to. It’s still a way of keeping score and a proxy for power. They’ve always longed for more money/power and as they get older and their brain slows down, they don’t suddenly change. What old billionaire have you seen says “you know what? I’m going to give everyone raises! I don’t need more money! We should all be happy together!” (Almost) never happens. They want more and more and more… and then they die.
Bill Gates seems to be like that. Don’t get me wrong, I don’t like him and he’s still doing lots of shitty billionaire stuff, but he seems to be satisfied with “just” being a billionaire and making sure his offspring
will be billionaireswon’t starve as well and giving away a lot of the money he will never be able to spend on his own anyway. Same goes for George Soros and Warren Buffet.Didn’t know that. Fixed
They’re just tryna nut. It’s the only way they still can
That was my idea. These jarring and quickly implemented money drainers only really help ppl outside the market.
This is what happens when your president is a used car salesman.
This is going to be a hard one to explain to the MAGA fans
It’s ukraine’s fault. Should’ve thanked harder
why would Joe Biden do this
The stock market was bloated
Actual trump regime statements
What isn’t hard to explain to that lead poisoned cult of cunts.
Despite all the myths Democrats are better for the economy. They always produce better numbers.
rich ppl yacht money “economy”, sure
Uh no? Compare employment numbers from whichever source you prefer. Democratic presidents have lower unemployment.
Uh, yes. We could talk about unemployment numbers, but even if we did (and i have a distinct feeling you’re being vague because you don’t plan to) those numbers aren’t by a long shot the only metric we use measuring the economy.
In fact a lot of ways “the economy” is measured doesn’t take into account things the average citizen cares about, like cost of living etc. hence my use of the widespread pejorative "rich peoples yacht money
I’m pretty sure average citizens care about being employed. But that’s just me.
Sound less like a redditor please. I left to escape the endless line of empty fucking quipbirds, with no fucking meat, no substance behind their words. If i want to hear an empty ass i’ll just eat beans
That’s not true. They definitely should do way more to help the working class but the numbers show that the economy in general is better under them.
You’re essentially agreeing to the person you’re responding to…
I think the average people do benefit as well not just the wealthy even though they do benefit more.
Wealthy people have enough money to spread around and diversify. Even if their money in US market is in red, their money in European and Asian markets is in green. And that’s without taking gold or silver into account.
Nonsense. Disappointed this gets upvotes.
How the hell are the democrats the party of enriching the wealthy when compared to the fucking R’s?? I mean fucking hell have any of you ever read a book or even glanced at historic and current R policy?
How the hell are the democrats the party of enriching the wealthy when compared to the fucking R’s??
glances at the Obama administration unprecedented market bull run while foreclosures were rampant and low-income poverty surged
The Americans, in typical capitalist extravagance, insist on having two right-wing parties instead of one.
I mean fucking hell have any of you ever read a book or even glanced at historic and current R policy?
Democrats sow, Republicans reap. But the line only ever consistently goes up for the already wealthy. Passive income dominates wage growth. Assets prices outrun revenues thanks to our investor-friendly monetary policies. And the Piketty R > G math, with ®ate of investment return > (g)ross domestic profit yield, leads to a steady consolidation of property in the hands of a shrinking ultra-wealthy minority under both parties.
Yes, democrats do periodically have to save capitalism from itself - for which the bourgeois are perpetually aggrieved. But what did Obama do when he was handed half the financial sector on a platter by the outgoing Bush Administration? Did he properly title homeowners who had already paid in mortgage several multiples of the face value of their homes? Did he cancel a bunch of outstanding student loan debt, so that college students weren’t perpetually hobbled by interest payments on debt? Did he universalize Medicaid or even deliver on a public option to evade insurance company graft?
No. He gave the bankers their crooked banks back for a vanishingly tiny ROI. He forgave the debts of major lenders, bailed out executives, propped up stock prices of major hedge funds and corporate institutions, subsidized private insurance to the benefit of the insurers, downsized Medicaid during the Government Shutdown fight, increased school privatization at the primary level, and did literally nothing for his most zealous base of supporters - educated professionals.
And then his party got absolutely washed in the subsequent three election cycles, culminating in the nation’s most incestuous pedophile taking the White House in 2016.
And that was Obama, the closest thing to a progressive the party has produced since LBJ. Carter, Clinton, and Biden were even worse.
I’m disappointed in you too friend, but how is that effin pertinent?
Discussion and disagreement are what boards are for, not clown ass comments like “muh disappointment” lolol lemmy get a load of this guy
Ah now it makes sense. So which part of the discussion was you frantically searching my comment history for some kind of win?
Sad.
THIS THREAD you soppy cunt. Pay attention to what youre saying at least, sheeeeesh
Ooh babys getting angry.
Actually that is a different comment chain. A different comment in this particular board.
You don’t know what thread means do you?
I thought discussion is what we’re here for? You seem to be getting upset.
Heeeheee yaa bruh I’m so mad rn 😘
Realistically the right makes things worse for the 90%, the centre makes things worse for the 90% but slower. At least in recent history.
I don’t think its “compared” to the Rs but just in general they are good for “rich ppl yacht” money. Your instant move to compare the two parties (making bad policy OK by comparing it to “OH FUCK” policy) is why the usa is in the state it is now.
Interesting. I didn’t know I had a say in US politics being 5000 miles away and not a citizen. I’ll be sure to smarten my ideas up. Send marine force 2 or whatever to pick me up and I’ll sort that shit show out for you once I kick trump in the balls/face.
Also there’s literally only one other option so yea of course it’s compared to the opposition. That’s how the system is setup.
Are you sure you are replying to the correct comment? I am not american and yes I too have no say in their system, but “less bad” is still bad.
Not sure why you think commenting on geopolitics and other nations economic policy means you need to fall to the same BS they have. Even less that making comments somehow gives us a say.
Yes I am sure. You suggested my rejection of your idea and comparison is why the US is like it is now. Hence the joke.
Okay fine. They’re both bad. Which would you rather have won in 2024 now?
I think you’ve fallen for a classic ‘if left/centre not perfect might as well burn the house down’ fallacy personally but we’ll agree to disagree.
Why as not an american you used “miles”?
AND youre not a citizen of the US? Sit your fool ass down playa 🤣
Bitch please. Who’d want to be a US citizen. The others are locked in there with tools like you.
Meanwhile in free roaming European: were laughing at you morons for electing a king.
And what makes you think you need to be an inmate to talk about the joint?
English is your second language so maybe you missed how whether you wish to be a citizen or not was not my point, your definite ignorance was.
Stop trying to save face, you have nothing to say to me and the fact you’re still yappin is pathetic
How dare Biden tank the economy while trump is president just to make him look bad! Any day now, all these incomprehensible tariff ramblings, threats, and further ostracization of our allies are going to make America so great! /s
Maybe Trump just didn’t know how to spell and he just meant “Make America grate again” because it certainly does something like that to most people’s nerves at the moment.
Damnit, I came here to blame Joe Biden, but it seems like everyone else beat me to it. Oh well, time to go tariff some more countries and then act shocked by the results…
slams fist on desk
Biden!
I like the little hopeful bump before the inauguration.
That’s not a bump. It’s in line with the rest of the world.
Yes, a bump in the world markets. On US news. A trend I hope we see less of in the future.
On US news.
What news in particular? Remember, People knew for months that Trump was going to be inaugurated.
Still no idea why it happened, but it was a nice little bonus when I sold off all my positions before he came to power.
Smart. It was the the hope of a business man coming in and doing things good for the market (not for people mind you, wall st is not that out of touch)
Everyone with ETFs targeting US stocks sweating right now
