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We are on the Verge of Economic Catastrophe

Since April 2, oil has dropped about $14. Can't imagine it's because they are drilling baby drilling.
It doesn't look like Bitcoin has quite the safe haven aspect I thought it was suppose to. So then, what is it for again?
Bonds were looking like the safe haven bet but more recently, not so much. So does this show a lack of confidence in the US? I guess so.
Good old useless gold though. Up about 50% since it started its march about 14 months ago.
Couldn't hurt to start stocking up on beans and rice. They keep. Might need some ketchup too.

Meanwhile, the Party Of Trump is largely sticking by their stable genius, nibbling around the edges a bit by posing hard questions to his aides but not taking their lord's name in vain. It's a hell of a thing to take a wait and see attitude about though, innit?

I can't help but draw parallels between idiot Trump and idiot Putin. These are events that will necessarily shift markets on a permanent basis regardless of the outcome. Countries dependent upon trade with the US cannot chance having to suffer another Trumplike creature in the future. The US was 75% of Canada's export market.

It's congress' move now.

Both my mom and dad were born when my grandparents were older. My wife's grandmother lived to 100 and voted in the last election. So both sets of my grandparents and a couple on the wife's side grew up through the last depression.

They passed that on to my parents and to me growing up. I do know a lot of tricks they used to get by, but the biggest was not having much and still being happy with what you have.

Garden if you like eating. Use heirloom seeds and save some for the next year. Wear clothes forever and learn to sew. Reuse everything you can. Fix everything you can yourself. Nuts and bolts jars. Button boxes. Wash your aluminum foil, reuse breadbags and plastic butter dishes. It's crazy how little they lived on.

I bought $600 in car parts last month and have been fixing up the family fleet of vehicles with brakes, oil changes, sensors, sparkplugs, .... the rest stored on shelves for when I need them. The cars should be good to get us through any price spikes or shortages of wear items now. In good depression era logic, I saved all the parts with any life left in case I may need them in the future.

The US is overflowing with food, oil, gas, etc. So that shouldn't be as big of an issue.

Banks were one of the biggest problems people had in the depression era. There was a reason people kept money in their matress instead.

Gold was eventually confiscated by the government.
 
Since April 2, oil has dropped about $14. Can't imagine it's because they are drilling baby drilling.
It doesn't look like Bitcoin has quite the safe haven aspect I thought it was suppose to. So then, what is it for again?
Bonds were looking like the safe haven bet but more recently, not so much. So does this show a lack of confidence in the US? I guess so.
Good old useless gold though. Up about 50% since it started its march about 14 months ago.
Couldn't hurt to start stocking up on beans and rice. They keep. Might need some ketchup too.

Meanwhile, the Party Of Trump is largely sticking by their stable genius, nibbling around the edges a bit by posing hard questions to his aides but not taking their lord's name in vain. It's a hell of a thing to take a wait and see attitude about though, innit?

I can't help but draw parallels between idiot Trump and idiot Putin. These are events that will necessarily shift markets on a permanent basis regardless of the outcome. Countries dependent upon trade with the US cannot chance having to suffer another Trumplike creature in the future. The US was 75% of Canada's export market.

It's congress' move now.

Both my mom and dad were born when my grandparents were older. My wife's grandmother lived to 100 and voted in the last election. So both sets of my grandparents and a couple on the wife's side grew up through the last depression.

They passed that on to my parents and to me growing up. I do know a lot of tricks they used to get by, but the biggest was not having much and still being happy with what you have.

Garden if you like eating. Use heirloom seeds and save some for the next year. Wear clothes forever and learn to sew. Reuse everything you can. Fix everything you can yourself. Nuts and bolts jars. Button boxes. Wash your aluminum foil, reuse breadbags and plastic butter dishes. It's crazy how little they lived on.

I bought $600 in car parts last month and have been fixing up the family fleet of vehicles with brakes, oil changes, sensors, sparkplugs, .... the rest stored on shelves for when I need them. The cars should be good to get us through any price spikes or shortages of wear items now. In good depression era logic, I saved all the parts with any life left in case I may need them in the future.

The US is overflowing with food, oil, gas, etc. So that shouldn't be as big of an issue.

Banks were one of the biggest problems people had in the depression era. There was a reason people kept money in their matress instead.

Gold was eventually confiscated by the government.
It’s always the way I’ve lived my life: frugally. One twenty year old truck. One forty year old credit card. They send me a fresh one from time to time. And I carry no debt.
My folks didn’t throw food away. Even as an adult, I knew not to throw away food in front of my mom. We started out poor and stocked up on things for the winter. Mom canned fruits and vegetables and made hundreds of pierogies and froze them. Even as a small kid, I knew we were broke when we were eating potato pancakes Thursday evening for dinner.
A frugal lifestyle is fine. I spent years unemployed from ‘09 on. I found cheap hobbies and I was happy.
I don’t know how far Congress is going to let this go but a loss in confidence in the US bond market should motivate them, I hope.
 
Construction for new manufacturing facilities was already surging before Trump decided to crash the economy:

1000016574.jpg
 
From Brian Tyler Cohen: BREAKING: Amazon cancels inventory orders from China due to tariffs.
 
So Trump hits pause in a glorious show of strength... or something like that, according to Trump Admin officials. In fact, this was always the plan! Market shoots through the roof. But he up China's tariff to 125%.

So I was close on Trump backing off. But I didn't see the China tariff remaining. Which he up'd to 125%. The odd thing is the market is up 2500 or so... but we still have the massive tariff on China, which is going to become a thing presumably sooner than later.
 
From Brian Tyler Cohen: BREAKING: Amazon cancels inventory orders from China due to tariffs.
Maybe outfits like Amazon and Walmart could break it down.
Price: 86.99
Tariff: 59. 80
Total Due: $146.79
Tom
A comic article came to mind that these tariffs were going to expose just how cheap the products actually were.

OLED TV tariff $72.... hey... wait a second!
 
So Trump hits pause in a glorious show of strength... or something like that, according to Trump Admin officials. In fact, this was always the plan! Market shoots through the roof. But he up China's tariff to 125%.

So I was close on Trump backing off. But I didn't see the China tariff remaining. Which he up'd to 125%. The odd thing is the market is up 2500 or so... but we still have the massive tariff on China, which is going to become a thing presumably sooner than later.
Twenty dollars and my left nut says a small circle of friends got a heads up to get in the market beforehand. Like the SEC can do anything about it.
 
Ka Ching for whoever hears about it before he opens his pie hole.

I’d like to see who bought calls this am.

As I predicted, China tariffs remain, and will still be sufficient to protect Musk from their next gen EV and battery tech, even after his genius “negotiates” them down from 125% to 75% on EVs/Batteries and 10% on almost everything else.
Still a tax on consumers. Now they’re fucking elated that it won’t immediately cost them their job, home, health etc.
As long as they still have OJ they’re OK.
 
Ka Ching for whoever hears about it before he opens his pie hole.

I’d like to see who bought calls this am.

As I predicted, China tariffs remain, and will still be sufficient to protect Musk from their next gen EV and battery tech, even after his genius “negotiates” them down from 125% to 75% on EVs/Batteries and 10% on almost everything else.
Still a tax on consumers. Now they’re fucking elated that it won’t immediately cost them their job, home, health etc.
As long as they still have OJ they’re OK.

And no change regarding Canada and Mexico.

The way Trump is he's change his "mind" tomorrow anyway. Business can't plan beyond the weekend.
 
So Trump hits pause in a glorious show of strength... or something like that, according to Trump Admin officials. In fact, this was always the plan! Market shoots through the roof.
Can you say "Pump-and-dump"?
Or, in this case, a "poop and scoop", which is the reverse where they tank the market to buy on the dip and then let it rip back up and sell on the rip.
 
And now we return to the "Oh yeah... China...." portion of the market instability. Opening 500+ points down. The market yesterday seemed certain China tariffs would fall, but 16 hours later, still there. Still a big problem.

I'm stunned we still have tariffs there. It seemed obvious the tariffs would die yesterday by early afternoon, and while most of them did, he didn't end the China tariffs, or at least put them in the realm of not crazy. The people that pushed for Trump to end the nonsense couldn't have possibly have said China was okay. They likely led with China.
 
Bleeding out with over a 2000 pt drop at this point. I suppose we need the Bond market to have a fit again before Trump backs off that tariff.

I read Nintendo actually got Switch 2 abroad before the tariff.
 
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