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We are on the Verge of Economic Catastrophe

KCFlyer said:
TV and credit cards said:
Anyone who took an oath to support and defend the Constitution, perhaps.
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There are 273 Republicans in congress who did exactly that, yet they sit on their hands while a foreign drug addict was appointed but not vetted took over THEIR job of overseeing spending and money. They sit idly by as the president ignores a court order. The watch and squirm a bit...not enough to get his attention, at him taking their job of tariffs. Unless you have a backbone, there are 273 men and women who took that oath and will stay on the sidelines.
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I’m referring to officers in the military. They might have a little more backbone. They are under no obligation to follow an order they deem unlawful or politically motivated.
If it should come to this.

Greer v. Spock
 
link

article said:
Trump says other countries are keen to negotiate, and those talks have reportedly begun with Japan and South Korea. Speaking at the White House on Monday afternoon, Trump said: "We're going to get fair deals and good deals with every country, and if we don't, then we're going to have nothing to do with them."
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I love the hyperbole. "Nothing to do with them"? As in no trade at all? Guy is a language salad shooter.

But these words are providing enough calm to the market to suggest this isn't going to be a thing in the end and the tariffs are just a bull in the china shop negotiation tactic.

Of course April 9th is Trump's line in the sand MAD 50% additional tariff on China. If that went into effect, the market would plummet thousands on Wednesday or Thursday.

So the market is holding to Trump is out of his mind, but not too out of his mind.
 
"It's a trap!"

No, that's not a link to another Dr. Ackbar meme.


Hedge fund manager and investor Mark Spitznagel shared his outlook for the economy and he sees a major crash headed the market’s way as stocks face downward stumbles after President Donald Trump implemented sweeping tariffs.


Spitznagel, who manages the firm Universa Investments, told Market Watch on Monday that he expects an 80% crash when all is said and done. Spitznagel is well known for predicting market crashes in the past, including the 2008 financial crash. His strategy of “black swan” investing is one based on predicting and navigating coming market tailspins.


“I expect an 80% crash when this is over. I just don’t think this is it. This is a trap,” Spitznagel said.
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Today's rebound is the market breathing a sigh of relief over the tariffs threat apparently bringing South Korea to the negotiating table, but all that will do is bolster Trump's belief that his toddler strategy is working.


“This is another selloff to shake people out. This isn’t Armageddon. That time will come as the bubble bursts,” he said.


“Doom and gloomers,” he added, are wrong when they predict that the chaotic market is going to even out soon.


“We’ve had our clients riding this bull market for years,” he said. “All the doom and gloomers think it’s over and they have this figured out. Take it from a professional doomer, they don’t.
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Elixir said:
TV and credit cards said:
They are under no obligation to follow an order they deem unlawful or politically motivated.
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Fine, as long as they don’t mind being thrown in the brig and court martialed.
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That’s the bitch about an oath. One day you may have to actually live up to it. Or should depending on the individual’s character.
 
“I expect an 80% crash when this is over. I just don’t think this is it. This is a trap,” Spitznagel said.
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China isn’t backing down, and I don’t believe Trump/Musk (the Mumps?) want them to. The Mumps need to keep Chinese battery tech OUT of the US market at all cost.
They might back off everyone else, but if Tesla doesn’t come out of this with a stranglehold on the US EV and battery markets, Putin will probably have to foot the full cost of keeping the fascists in power next time.
 
Seems like the White House confirmed that tariffs to 104% on China will be started tomorrow. If that is true, the S&P going to 4000 will likely be as well.
article said:
"Americans do not need other countries as much as other countries need us," White House press secretary Karoline Leavitt told reporters during a briefing. "President Trump has a spine of steel and he will not break."
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:eek:

Still could finish the day well into the red.
 
The BBC seem to be struggling to grasp that a "would" that has now occurred should be called a "will":

IMG_2445.jpeg

So, what WILL THE US-China trade war do to the world economy?

Or are the BBC now giving zero credence to anything as indefinite as "White House confirms"?

(I left the third headline in, just for the laugh factor inherent in Musk calling someone else a "moron". I figured we could all use a chuckle).
 
Ford said:
Today's rebound is the market breathing a sigh of relief over the tariffs threat apparently bringing South Korea to the negotiating table, but all that will do is bolster Trump's belief that his toddler strategy is working.
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Up 1300 at the open...currently down 300 about a half hour before the close. So much for that relief.
 
bilby said:
(I left the third headline in, just for the laugh factor inherent in Musk calling someone else a "moron". I figured we could all use a chuckle).
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In this case, Musk is like a stopped watch. It's one of those times he's right. I read the Woodward books about Trump's first president and Navarro is mentioned ther a lot. Except back then he had some people who were't as 'loyal' to him surrounding him and they kept Navrro (or Ron Varo) away from him.
 
bilby said:
The BBC seem to be struggling to grasp that a "would" that has now occurred should be called a "will":

So, what WILL THE US-China trade war do to the world economy?

Or are the BBC now giving zero credence to anything as indefinite as "White House confirms"?

(I left the third headline in, just for the laugh factor inherent in Musk calling someone else a "moron". I figured we could all use a chuckle).
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The Press, like the Market needs it to happen to be real, as Trump has backed off so many times.

The original plan of 30% or so tariff on China would suck, but it would be trade war and a stupid one. Right now, the alleged plan is 104%. A number so outrageous, I don't even think China thinks it is going to happen. If that goes into effect, again, I think 2500 to 3000 point drop in the morning. Then the CEOs start arriving in DC from NYC with flaming torches by early afternoon.
 
KCFlyer said:
Ford said:
Today's rebound is the market breathing a sigh of relief over the tariffs threat apparently bringing South Korea to the negotiating table, but all that will do is bolster Trump's belief that his toddler strategy is working.
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Up 1300 at the open...currently down 300 about a half hour before the close. So much for that relief.
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And the Dow ends down 320, with the 4-day drop being 5,000 points. S&P down more than 18% from February, and Nasdaq fell 2.4% after rallying today.

Are we winning yet?
 
Does anyone else also see how moronic and contradictory it is that Trump wants Ukraine's mineral wealth? Or Greenland's mineral wealth? Presumably the minerals will be sent to the US at a reduced price (or what is the benefit otherwise compared to buying them from other countries at market price?). If China or some other country were to sell minerals to the US at a reduced price he and his trade team would call it "dumping" and "unfair trade" and punish them for it.
 
Is the goal to get trade concessions from other countries or is it to create a manufacturing economy here? Cuz as usual Trump is talking out of both sides of his mouth.
 
When I watch Trump's obsession with minerals, I can't help but think of "The Graduate" when that guy pulls Benjamin aside at the pool and says "plastics." No specifics. No actual investment advice. Just one word: "Plastics."
 
Trump says coal miners just want to mine coal, that's what they love to do, and they would be unhappy living in a 5th ave penthouse in NYC

 
A day like today in the market used to be called a dead cat bounce. I guess it's not nice to call it that anymore. Crazy cat lady faction must have taken exception.
Crazy Cat Lady.jpg
You talkin' to me?

Apple's stock price is getting beaten up and even with increased cost spread out among suppliers, Apple, and the phone carriers, prices for iphones will still likely increase significantly. If this don't motivate people, nothing will.
 
ZiprHead said:
Is the goal to get trade concessions from other countries or is it to create a manufacturing economy here? Cuz as usual Trump is talking out of both sides of his mouth.
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It was the first case initially, but because the tariffs proved unpopular, Trump is now pointing to future possible concessions as "proof that tariffs work".
 
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