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Maybe they should try more tariffs. More tariffs will fix it definitely.
Yo dawg, I heard you like tar
riffs…Edit - Sorry… I’m usually better than that
Side note, why do people seem to struggle so much with the spelling of the word “tariff”? We’ve seen it so many times yet so many people get it wrong.
Not really a side note, this is just the tip of the “American stupidity and overconfidence that got us here” iceberg.
Hmm
Maybe easy to pronounce as “tear riff“ which would lend itself to the double R
Too much trade between the states. We need to rip up the Interstate Commerce Clause
We just need to hawk more $100k Teslas from the White House. …what a fucking embarrassment.
Tbh Wall Street can fuckin off. They helped create this mess. If this ship is going down, let’s make sure none of the assholes find a seat on a life boat.
You think they aren’t already profiting off of the downturn?
half of them voted for this guy, so yeah I’m wondering whether they actually saw it coming or not
They’ll buy everything that collapses up at a great discount
yeah but will it actually rise again
Oh you can be sure Congress will be working overtime to pass a bill with relief to those big businesses that cannot fail.
All of everyone’s retirement accounts are invested in the market. So it’s not just those assholes who get fucked by this.
How much of retirement accounts represent in % for the overall stock market?
Not much, but the peecent of people who have their money in stocks for retirement is high.
Assuming that all of the equities held by the bottom 99% are invested in retirement accounts, it would be 50.1% of the market. [https://www.federalreserve.gov/releases/z1/dataviz/dfa/distribute/table/#quarter:140;series:Corporate equities and mutual fund shares;demographic:networth;population:all;units:shares]
In fact, those assholes will be fine. WE won’t.
and the only way to turn it around is a lot of angry people with guillotines
Lucky me, I don’t have any retirement investments!
Maybe it will force Americans to do something against that? If no one has any retirement, there’s bound to be a lot of public outcry. There’s nothing to lose if you have nothing.
In the USA, not everywhere, luckily. It’s as if the repercussions will hit you guys harder than the ones Trumpet is trying to blow at.
I switched to cash last week.
All of everyone’s retirement accounts are invested in the market.
Americans not willing to recognize that Social Security exists is such a fucking capitalist vibe
Social security is not enough to live off of. Is projected to be unobtainable for future generations who are paying into it, and is currently on the chopping block
If the billionaires actually paid their share into it, it would be fine…
Yes.
Social security is not enough to live off of.
Nevertheless, it is 40% of retirement income. And none of it comes from the stock market.
projected to be unobtainable for future generations
Projected by advocacy groups trying to abolish social security.
You are being untruthful and dismissive: https://www.ssa.gov/oact/tr/2024/tr2024.pdf Page 9 is the jist.
They are going to have to change something either raise the retirement age or lower the payments both which make it more unobtainable then it already is. And that 40% is based what people make… in a time of rising inflation and stagnant wages…
The fact that social security is not tied to the market is super irrelevant, when the argument was that the 401k is in danger, when social security already is not enough to live on. so it’s important that people have a successful 401k to supplement it.
The real solution is making the average wage go up. Significantly. Which puts more money into the program overall.
With so much money having been shifted away from the average worker and Into the pockets of people who hit the FICA cap in their first paycheck of the year, over the last few decades, it was bound to have issues.
I agree with that, or a ubi, or taxing the rich. All that jazz
They are going to have to change something either raise the retirement age or lower the payments
Or just pay directly out of the general fund, which they can do with a simple vote in Congress and which they already do for Medicare/caid.
The fact that social security is not tied to the market is super irrelevant
It is the primary argument both for and against the program. Investors kick and scream about the benefits of compound interest, right up until a big market nosedive and bankruptcy spree. Meanwhile, it’s the benchmark for guaranteed basic income that progressives love to reference.
Decoupling income from economic growth isn’t irrelevant. It’s the program’s entire raison d’etre.
You would have the tax payers pay even more of the burden now, with out the benefit of even having it contribute to their social security… to pay the gap in social security, damning the tax payers twice. That’s not a permanent solution on top of that! I’m not saying social security should be attached to the market. I mean we are talking about the market fall after all! I am saying that being flippant that everyone Just needs to remember they have social security is dismissive and not relevant.
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.
is america great again yet? I think not.
Make America Great (Depression) Again?
They just need to try harder.
If they pulled themselves up by their bootstraps, they’d be set for life.
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.
Here in the US, I transfered most of my 403(b) investments into European, Asian, and “emerging market” funds, so I’m happy to be doing my part.
Fuck, that’s a good idea.
Thank you.
any guidance or resources for an idiot who would like to explore that?
If you have a 401(k) or 403(b) through your employer, your employer should be partnered with an investment firm to manage it (e.g. T Rowe Price, Prudential, or Transamerica). You need to figure out which company you’ve got and log in to your account. Ask your HR dept if you can’t figure it out.
That firm will automatically choose where to invest your money unless you log in to your account on their website and tell them where you want it invested.
Most investment firms will offer a limited selection of mutual funds with a variety of objectives. They usually link to each prospectus right there on the site, and the prospectus often has a pie chart telling you where a fund’s investments are located (US, Europe, Asia, etc). It will also list their performance over time, expense ratios, and other useful info, like whether they invest in large vs small cap businesses and their largest individual holdings.
You want to change both where your current investments are allocated and where your future contributions will be allocated.
You also want to try to find funds with low expense ratios (I try to stay below 0.10% unless it’s a fund I really like and am willing to make an exception for). Anything titled “index fund” is likely to be low. Your money is almost guaranteed to be automatically invested in funds with high expense ratios, cutting into your long-term growth, because the investment firm makes big bucks giving your money to people who aren’t wise with it.
If you want to get serious, you can even set up a personal choice account where you can totally independently decide where to invest your money, even in individual stocks. This comes with significant risk and is not a great idea for laypeople like you or I.
Thank you for the very thoughtful response, I will hopefully get a plan together
Same, babe. Sold all my iShares and Vanguard ETFs and moved into BMO emerging markets, Euro, and Canadian funds.
I still need to look into my employer group pension account. I don’t know how much control I actually have over that.
I did the same with my IRA. I was in VOO but moved to VGK and some short term bonds. So far I’ve saved myself a good amount of money.
To be fair, showing no historical correlation and just assuming the problem or separation started this year because it’s specifically indexed to the start of the year, is garbage math. Like, you got the correct answer, but you did the problem completely wrong.
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.
Easy, do not have billionaires…
Um no? Have you been paying attention, at all?
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.
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.
I doubt they’d do any fiscal spending through safety nets, since they are dismantling them; I suppose bail-outs could be on the table. I’ve seen some analysts/economists claim that the Trump admin wants to devalue the USD to grow the manufacturing sector, and the admin seems to be pressuring the Fed to lower interest rates. The consensus seems to be that stagflation is what’s actually going to happen. I don’t quite understand why the admin wants to bring back manufacturing sector, because they’re typically low-wage jobs (especially if not unionized), and unemployment was pretty low. Among the billionaire class, there seems to be a concerted effort to shed decent-paying jobs, so I guess the plan is for those people to go work on assembly lines.
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
Shut the fuck up, you fucking cretin
I don’t always agree with them but you make such a compelling argument…
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…
I’m feeling pretty smug lately having always avoided the stock market so my money has been the same this whole time
Lol just wait until the reports come out about the inflation rate since Trump took office.
Yeah but I still didn’t burn my money in stocks
Bank of Mattress savers unite!
Buy the dip.
This is financial advice.
lol it’s not going to zero. It will rebound sooner or later. Just another cycle.
lol so how much did you lose
Nothing? I have not sold any of my investments so there’s no realized loss. In fact, I’ve put more money in since the last week.
Also, I’m not even from the US. I’m just telling you how stock markets work in general.
Maybe should convert some of those dollars to Euros tho just in case
I actually get paid in euros and just stopped converting
Well lucky you 😂
Now you can be double smug considering how much value the dollar has lost
I get paid in euros.
Look into physical gold ETFs as an alternative or addition to holding cash or cash related investments
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The Bigly Depression
Don’t worry, the rest of the world will get pulled down when we really nose dive… hooray contagion.
I agree, but I don’t think it will be as bad as the last few times for anyone but the US. Trump has managed to piss off literally the biggest trade partners the US has, so they will happily just invest elsewhere and leave the US economy in the dust instead of trying to survive the crash together.
I also agree with you here.
We’ll pull the world down… but we will do significantly worse ourselves.
Yes, the global casino of interdependent pyramid schemes is extremely fragile.
Don’t worry though. Capital will print as much money, build as many prisons, and blow up as many brown people as it takes to maintain hegemony.
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
Says the guy who quipped about yacht economy. Eat a dick.
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?
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 😘
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 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.
Realistically the right makes things worse for the 90%, the centre makes things worse for the 90% but slower. At least in recent history.
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.
You’re screaming “fuck off, I don’t deserve any of this because those thefts were carried out before I was 18”, but you’re screaming that sitting on the stolen furniture in a stolen house. The crimes mentioned predating your eighteenth birthday doesn’t mean shit when you’re still benefiting from the results of those crimes.
If someone gets abducted and put in a stolen house with stolen furniture, are they to blame?
Like, I get it, we enjoy the privileges and share the responsibility to change shit. But responsibility and blame are two different things.
Agreed. The person I was replying to took the initial comment regarding nation karma for the US very personally and started ranting that he didn’t deserve this shit. No one blamed him, and I was trying to convey the same thing that you wrote: it doesn’t matter that we were not personally responsible for the historical crimes our nations committed, if the current society we live in still bases its wealth on what was stolen. We’d be indirectly benefitting from those crimes and therefore would have a responsibility to acknowledge that and try to do what we can to even things out if and when we can. Rejecting all links to those historical crimes and any responsibility for them can come across as arrogant to those on the other side of that equation, those who were robbed. But the person started hurling insults so I was obviously unable to communicate what I wanted to communicate.
Everyone is benefiting and being hurt by decisions made in the past or decisions that they cannot control. These are meaningless statements. They don’t cause action, they don’t make people feel like they should do something. They just annoy people. The statements are ignorant. You have no idea who I am, what I do, how I live, etc.
So you can also respectfully fuck off as well.
Yeah you do.
We’ve seen your browser history.
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I’m still waiting people understand that the way Trump treat Zelensky isn’t new in any way, most people are just aware of it now because it happened in Europe.
relax, dude
