• Welcome to the Internet Infidels Discussion Board.

We are on the Verge of Economic Catastrophe

soo glad I didn't buy into my company's 401K plan. I remember my brother complaining about his in the '08 crash.
 
Wake up this morning to the news that the Dow futures have dropped another 1,000 points. On the plus side they’re really sticking it to the libs by cutting school funding to schools that don’t toe their line on some vague concept called DEI. Still not sure what that means.
 
SLD said:
Wake up this morning to the news that the Dow futures have dropped another 1,000 points. On the plus side they’re really sticking it to the libs by cutting school funding to schools that don’t toe their line on some vague concept called DEI. Still not sure what that means.
Click to expand...
They should be careful because if they flood the market with lib tears then their value might decrease.
 
Musk: "yes there will be hardship due to our economic policies"

MAGAtards: "Damn it Biden"
 
Well my husband is due to retire next month and between our retirement savings, which had seemed adequate, and which, so far, we have not had the guts to look at since early January, and our Social Securities and my very small pension, which, at this point, seems to be the only certain source of income we have: of course the economy is tanking.
 
Corporations want Trump's corporate tax cut made permanent... but they've got to be emoting to the GOP in Congress that this shit is a bad idea. At what point do they tell the GOP to do something or else 2026 will make 2006 look like a GOP landslide, granted that might not be mathematically possible with the post 2010 gerrymandering.
 
Wow. It's cratering fast. No slow, steady decline here. No uncertainty, just a cannon shot into the sewer directly and undeniably because of the Orange Shitpants' foreseeably stupid policies.

I wonder if "This time you pissed off the wrong person" is going to apply, with "person" being the S&P 500 corps. It's one thing to ban abortion and laugh at hungry American kids, but it's quite another to tank the value of Allstate and Citicorp.

If it does end up being the Fortune 500s that get him removed from office, it'd be, well, something. It'd also demonstrate without doubt who owns this country. So here's to multibillion dollar corporations.... ?
 
SLD said:
Wake up this morning to the news that the Dow futures have dropped another 1,000 points. On the plus side they’re really sticking it to the libs by cutting school funding to schools that don’t toe their line on some vague concept called DEI. Still not sure what that means.
Click to expand...
Brown people and queers, mostly. With some pot shots at unowned women, communists, and sociology. Just your garden variety Nazi bullshit.
 
Colonel Sanders said:
Wow. It's cratering fast. No slow, steady decline here. No uncertainty, just a cannon shot into the sewer directly and undeniably because of the Orange Shitpants' foreseeably stupid policies.

I wonder if "This time you pissed off the wrong person" is going to apply, with "person" being the S&P 500 corps. It's one thing to ban abortion and laugh at hungry American kids, but it's quite another to tank the value of Allstate and Citicorp.

If it does end up being the Fortune 500s that get him removed from office, it'd be, well, something. It'd also demonstrate without doubt who owns this country. So here's to multibillion dollar corporations.... ?
Click to expand...
I miss the verge of collapse already.
 
Toni said:
Well my husband is due to retire next month and between our retirement savings, which had seemed adequate, and which, so far, we have not had the guts to look at since early January, and our Social Securities and my very small pension, which, at this point, seems to be the only certain source of income we have: of course the economy is tanking.
Click to expand...

I was mulling over retiring later this year but I guess I will defer for now. 😲
 
Colonel Sanders said:
Wow. It's cratering fast. No slow, steady decline here. No uncertainty, just a cannon shot into the sewer directly and undeniably because of the Orange Shitpants' foreseeably stupid policies.
Click to expand...
Not cratering at all. It is going down, but we aren't even at 10%. S&P is close though.

Trump responded saying he isn't changing anything, so he at least isn't tit for China's tat on our tit.

....

You know what I mean.
Colonel Sanders said:
I wonder if "This time you pissed off the wrong person" is going to apply, with "person" being the S&P 500 corps. It's one thing to ban abortion and laugh at hungry American kids, but it's quite another to tank the value of Allstate and Citicorp.

If it does end up being the Fortune 500s that get him removed from office, it'd be, well, something. It'd also demonstrate without doubt who owns this country. So here's to multibillion dollar corporations.... ?
Click to expand...
Comes down to Corporate America. They have probably the most effective reins on the US Government. This benefits no one. I think they were hoping it'd go away, but Trump is being Trump at the moment... and they are likely expecting Trump to do another Trump and pivot 180 degrees like he has so many times before. But the CEOs are likely sweating a bit more, uncertain whether it is 4 realz this time. But once they make up their mind that this isn't going away, I have to imagine they'll be on the phone with every representative they provide money to.
 
Elixir said:
Jimmy Higgins said:
we aren't even at 10%.
Click to expand...
Oops. Nasdaq now down over 11% from a month ago, most of it in the last 2 days. No end in sight, either.
Click to expand...
Based on my ignorant understanding, I think the market:

1) Waited for Trump's actual actions -> dropped yesterday
2) Waited for Reaction to Trump's actual actions -> dropped this morning
3) Waiting for Trump to dig hole deeper -> collapse

Currently Trump isn't reacting to the reaction, which is probably providing some relief to investors who fear Trump's stupidity and immaturity. And the jobs report today wasn't bad. So we might have a bit more sell off, but think the next step for the market is...

4) People need to start running numbers and figuring out what the impact of all of this will be.
5) Monitor the shit storm that will follow

We are in a bear market. Trump is the first President to create his own arbitrary bear market.

Oil is down to $62 a barrel. Cheaper gasoline is nice, but that is the market pricing in an economic drop in output.
 
9:45 am Mt time 4/4/25

For the last month:
DOW is -8.13%
SPX is -10.41%
NASDAQ is -12.86%
 
Are the high-ups in the corporations stupid? We all know what the Repubs are like, and the claim is constantly made that the Democrats are strongly pro-corporate as well, so why didn't they (the corps) support Harris? Because they prefer the Repubs? BUT anyone with a brain could predict that Trump would be a disaster as 47th POTUS. So, the Corps people were either extremely stupid or simply too ideologically committed to the Repubs (which is another form of stupidity).
 
People with 401ks get stuck holding the bag. Told to ride it out, takes 2 days to move funds, limited monthly transactions, etc.

We moved around 401k stuff months ago because of the looming uncertainty and have been adjusting savings and buying needed long term stuff in case tariffs were "real this time". Might as well stock shelves with pre-tariff goods when savings accounts pay squat. Might save a couple thousand dollars this year.

The job markets will soon suck as private AND public employees get laid off at the same time. That doesn't happen historically. Look at factories already laying off in the US because they supplied parts to Canada and Mexico.

I worry what happens when the rest of the world realizes we're only 350 million of the 8 billion+ and they move on without us. If things get bad enough here, like depression level, the US could use it's military to try and solve the issue.
 
ImGod said:
People with 401ks get stuck holding the bag. Told to ride it out, takes 2 days to move funds, limited monthly transactions, etc.
Click to expand...
Unlike 1929 MOST Americans are in the market via their 401K. The ones in their 50's might be feeling a bit uneasy.
 
KCFlyer said:
ImGod said:
People with 401ks get stuck holding the bag. Told to ride it out, takes 2 days to move funds, limited monthly transactions, etc.
Click to expand...
Unlike 1929 MOST Americans are in the market via their 401K. The ones in their 50's might be feeling a bit uneasy.
Click to expand...

The only way to transfer that to the weathly would be to spook the 401k holders badly enough to get them to sell stocks low and move to cash/bonds. Most advise to 401k people is to ride it out.

6 months of tariffs, a major market downturn, then lift tariffs after billionaires buy up the stocks they want in certain industries. That sort of thing may be to brazen for them to survive. Like a crypto rug pull in reverse.

I did move enough 401k around in Jan. that if there is some sort of extreme downturn and then surprise tariff relief, I could put a lot back in later in the game when stocks are low.

Profit taking at a relative high point, because I could see how much economic uncertainty this administration was creating.
 
You must log in or register to reply here.
Back
Top Bottom