We are on the Verge of Economic Catastrophe

[unapologetic]

China's rare earth exports grind to a halt.

Does anyone know about the China/Russia relationship?
Would China just sell their rare earths to Russia? (bad for us)
Isn't rare earths what the Ukrainian war is really about?

Newsome to the rescue! Pretty solid start to possibly running for president in 28.

After the filibuster, I'm favoring Booker.

 

[Elixir]

The situation creates “immediate and irreparable harm to California, the largest economy, manufacturing, and agriculture state in the nation,” the office said.

Gov Newsom and CA AG to hold a press conference at 1330 ET.

Because our neutered Congress won’t.

Good thing they have the power of the nickname to neutralize any effect that NEWSCUM whining might have. That should be enough to keep the Trumpsucking morons in line.

 

[TV and credit cards]

China's rare earth exports grind to a halt.

Does anyone know about the China/Russia relationship?
Would China just sell their rare earths to Russia? (bad for us)
Isn't rare earths what the Ukrainian war is really about?

China does sell rare earth minerals to Russia. That it is what the war is about is probably part of the equation. Mainly Putin wants to be known for restoring a glorious Russian empire. His track record would support this. The land grab in Ukraine and her minerals are the spoils of war. But for Putin, watching China's ascension, accomplish what Putin had long wanted for Russia must have hurt and I think played some part in Vladimir's rash act of a full invasion. Just my opinion.

I hope any finalized agreement on mineral extraction with the US allows Ukraine to say, okay, you can start extracting in the east. There may be some pesky Russian to get rid of first.

 

[unapologetic]

I hope any finalized agreement on mineral extraction with the US allows Ukraine to say,

I wonder if Rump actually wants such an agreement.
Zelinski was in the White House to sign an agreement, and Rump/Vance starts insulting him as if to piss him off.

 

[Harry Bosch]

China's rare earth exports grind to a halt.

Does anyone know about the China/Russia relationship?
Would China just sell their rare earths to Russia? (bad for us)
Isn't rare earths what the Ukrainian war is really about?

Newsome to the rescue! Pretty solid start to possibly running for president in 28.

After the filibuster, I'm favoring Booker.

Yea, I like Booker. But I don't know. What the one-day filibuster supposed to accomplish? To me, most of congress is absolutely asleep at the wheel. Congress is supposed to be an equal branch of government. Instead, they are rolling over to Trump. Where are the checks and balances? Who is supposed to regulate tariffs? Congress. Again, I've never been a fan of Newsome, but at least he is fighting against the tariffs.
Having said that, I think the democratic candidate needs to be someone who can carry some of the swing states: Sharpio, Gretchen.

 

[unapologetic]

But I don't know. What the one-day filibuster supposed to accomplish?

I feel the same about our local 'Hands Off' rally. We only did the first one. It needs to be every week, like other places.

The filibuster got MY attention. Maybe it alerted other voters too?
Booker is sincere. (unlike other politicos.) He'll get my vote for prez. Maybe convince some Repugs to switch.

 

[Harry Bosch]

But I don't know. What the one-day filibuster supposed to accomplish?

I feel the same about our local 'Hands Off' rally. We only did the first one. It needs to be every week, like other places.

The filibuster got MY attention. Maybe it alerted other voters too?
Booker is sincere. (unlike other politicos.) He'll get my vote for prez. Maybe convince some Repugs to switch.

I can't say anything bad about Booker. I just wonder about his charisma. I'm sorry to say, but we have a very wide tent of people in the democratic party. We have gazillions of one issue voters on the left that often get butt hurt when their one issue isn't addressed. And there isn't a person alive who could address all those issues and keep everyone happy. Our turnout sucks for this reason. Chrisma can trump a lot of that. Chrisma can bring people together despite losing their pet issue. I could be wrong, but I don't see that in Booker.

 

[TV and credit cards]

But I don't know. What the one-day filibuster supposed to accomplish?

I feel the same about our local 'Hands Off' rally. We only did the first one. It needs to be every week, like other places.

The filibuster got MY attention. Maybe it alerted other voters too?
Booker is sincere. (unlike other politicos.) He'll get my vote for prez. Maybe convince some Repugs to switch.

I can't say anything bad about Booker. I just wonder about his charisma. I'm sorry to say, but we have a very wide tent of people in the democratic party. We have gazillions of one issue voters on the left that often get butt hurt when their one issue isn't addressed. And there isn't a person alive who could address all those issues and keep everyone happy. Our turnout sucks for this reason. Chrisma can trump a lot of that. Chrisma can bring people together despite losing their pet issue. I could be wrong, but I don't see that in Booker.

For as well spoken as he is, I was surprised how easily he got lost in the 2020 primary crowd.

 

[Politesse]

Fucking anti-genocide bigots! Never satisfied unless you're not killing anyone.

 

[unapologetic]

For as well spoken as he is, I was surprised how easily he got lost in the 2020 primary crowd.

Yeah. I didn't even notice him till the filibuster.
I've seen a few interviews since then. He's mad now, more outspoken. I think he'll campaign harder this time.

 

[Swammerdami]

Perhaps the following belongs in the Give Credit Where Credit is Due thread. Trump wants to weaken the Dollar since that may tend to alleviate the trade deficit. The dollar is definitely weakening.

It was just three weeks ago that I reported that a gram of Gold was selling for $100 for the first time in history. Just a few hours ago, the gold gram hit $110.

One Euro now costs $1.15; it was just $1.02 3 months ago. The Yen is up 12% over the same period. The Swiss Franc is now $1.25, near an all-time record.

The U.S. stock market is falling again today, heading back to the Low two weeks ago. As I write the S&P500 is down 2.9% on the day, with the Nasdaq-100 down 3.2%. Treasury bonds are also falling today, with Trump claiming that Jerome Powell, the FedRes Chairman, is "playing politics" and that "Powell’s termination cannot come fast enough!"

@RVonse -- A collapsing Dollar will avoid the Triffin's Dilemma and improve the U.S. trade imbalance. May we assume that you are happy with foreigners fleeing from the dollar, and happy with rising inflation? Will you also support Trump in his belief that the present FedRes Governors should be ousted and replaced with toadies who will lower interest rates? Do you think U.S. "heavy manufacturers" will be eager to ramp up during conditions of inflation and high interest rates?

 

[southernhybrid]

The DOW is down almost 1200 points right now. You're doing a hell of a job there, MAGAidiot.

I guess the idiot didn't learn a thing about economics despite supposedly having a degree in economics. Considering how much he cheats, he probably cheated his way through college.

 

[pood]

The DOW is down almost 1200 points right now. You're doing a hell of a job there, MAGAidiot.

I guess the idiot didn't learn a thing about economics inspire of supposedly having a degree in economics. Considering how much he cheats, he probably cheated his way through college.

Supposedly he paid someone to take his SAT for him. He bankrupted casinos. Who does that? His understanding of global trade is infantile. Yet his idiot supporters praise his business acumen!

 

[southernhybrid]

The DOW is down almost 1200 points right now. You're doing a hell of a job there, MAGAidiot.

I guess the idiot didn't learn a thing about economics inspire of supposedly having a degree in economics. Considering how much he cheats, he probably cheated his way through college.

Supposedly he paid someone to take his SAT for him. He bankrupted casinos. Who does that? His understanding of global trade is infantile. Yet his idiot supporters praise his business acumen!

I get it. I spoke to a sweet older woman in her 80s about a month or so ago who supported Trump. She told me he was a great business man and I told her that he failed at all of his businesses. It's sad that so many nice poorly educated people were swept up into his cult. I know others who voted for him because they disliked Harris even more then they disliked Trump and I so want to ask them if they are happy with their choice since the ones I know are all dependent on SS and Medicare. I know another TRumper who said that Biden was deliberately allowing criminals to come into the country. I'm sure you can guess where she gets her so called news from. There are still 3 Trump signs up in my neighborhood. How crazy is that? I've been told they are all over the place if you ride out to the exurban areas. People used to take down their political signs once an election was over, but the Trump cult leaves them up. One old man near us had a Trump 2020 sign nailed to a tree. I think it's still there.

I can't explain why my idiot brother in law, who is a retired dentist is still defending Trump, despite losing over a million bucks in the market over the past few weeks. Some people just don't want to admit they were wrong.

 

[Jimmy Higgins]

Apparently berating the Fed Chairman isn't putting the market at ease.

 

[SLD]

Apparently berating the Fed Chairman isn't putting the market at ease.

Yeah, and look at the dollar collapse and the rise in he 10 year t bill rate. People are fleeing the U.S. markets for overseas. The dollar is losing its status as a reserve currency. Trump is trying to politicize the markets. Nicht gut.

 

[RVonse]

@RVonse -- A collapsing Dollar will avoid the Triffin's Dilemma and improve the U.S. trade imbalance. May we assume that you are happy with foreigners fleeing from the dollar, and happy with rising inflation? Will you also support Trump in his belief that the present FedRes Governors should be ousted and replaced with toadies who will lower interest rates? Do you think U.S. "heavy manufacturers" will be eager to ramp up during conditions of inflation and high interest rates?

The stock market was and still is already excessively overbought even before Trump assumed office. And that's not my opinion, but Warren Buffets opinion who knows far more about stocks and money than I do. Buffet carefully placed $billions sitting on the sidelines even before Trump's election: https://finance.yahoo.com/news/warren-buffett-sits-sidelines-189-162514413.html Buffet obviously expected the US stock market to correct he just did not know it would be Trump's tariff "shock and awe" that would prick the bubble. So it is convenient for Democrats yet not fair to give Trump all the credit for the stock market correcting to more normal price/earnings values. Values which would eventually happen one way or the other anyway. While Trump is completely re-aligning global supply chains it should almost be expected that the stock market will hate the uncertainty and show this in our 401k's. But the short term pain will be more than worth it if the US is able to survive it's current debt spiral IMO.

Long run I agree with you the US wants a strong dollar ALONG WITH robust manufacturing at the same time. But in the short run, we might have to sacrifice one for the other. The weak dollar will obviously makes our exports more desirable for the rest of the world at the time when producers need to be convinced to a make their stuff here. So I believe this is a very nuanced and very complicated relationship. As for the fed, I generally believe our treasury should be in the hands of the people and not just the POTUS. And it should definitely not be a private institution it is today. So I do respect people saying interest rates should not be politically controlled. I just think the market itself should control interest rates and take it out of politics altogether.

I happen to work in steel production which I consider to be "heavy manufacturing" and it is very curious how disconnected the stock market and general economic outlook seems to be compared to how our own plant is running. Our plant was "marked for death" during Biden's administration when the general economy seemed much better. But is now ramping up and booming to levels I have rarely seen before. It makes me wonder where the orders are coming from and how long this is going to last? If this plays out like Trump's last term, it will last as long as Trump's does. And we will then expect another "warn notice" as soon as the next Democrat replaces Trump in 3 years. I'm not sure I can wait that long for my own retirement (Im almost 68 now). But perhaps when I do retire or get laid off the foreigners fleeing dollar denominated assets will make it possible for me to buy a nice (now expensive but then much cheaper) California home.

 

[crazyfingers]

Apparently berating the Fed Chairman isn't putting the market at ease.

Yeah, and look at the dollar collapse and the rise in he 10 year t bill rate. People are fleeing the U.S. markets for overseas. The dollar is losing its status as a reserve currency. Trump is trying to politicize the markets. Nicht gut.

The Stupid is taking a hammer to the US economy and what will get him to stop? As it is great damage to trust has already been done and not a prayer of fixing it until he is at least out of office and the MAGAturds are out of power. Even if Dipshit pulled back on his tariff threats no one would believe that he won't do it again. Fucking Turd.

 

[Jimmy Higgins]

@RVonse -- A collapsing Dollar will avoid the Triffin's Dilemma and improve the U.S. trade imbalance. May we assume that you are happy with foreigners fleeing from the dollar, and happy with rising inflation? Will you also support Trump in his belief that the present FedRes Governors should be ousted and replaced with toadies who will lower interest rates? Do you think U.S. "heavy manufacturers" will be eager to ramp up during conditions of inflation and high interest rates?

The stock market was and still is already excessively overbought even before Trump assumed office. And that's not my opinion, but Warren Buffets opinion who knows far more about stocks and money than I do. Buffet carefully placed $billions sitting on the sidelines even before Trump's election: https://finance.yahoo.com/news/warren-buffett-sits-sidelines-189-162514413.html Buffet obviously expected the US stock market to correct he just did not know it would be Trump's tariff "shock and awe" that would prick the bubble. So it is convenient for Democrats yet not fair to give Trump all the credit for the stock market correcting to more normal price/earnings values. Values which would eventually happen one way or the other anyway. While Trump is completely re-aligning global supply chains it should almost be expected that the stock market will hate the uncertainty and show this in our 401k's. But the short term pain will be more than worth it if the US is able to survive it's current debt spiral IMO.

Long run I agree with you the US wants a strong dollar ALONG WITH robust manufacturing at the same time. But in the short run, we might have to sacrifice one for the other. The weak dollar will obviously makes our exports more desirable for the rest of the world at the time when producers need to be convinced to a make their stuff here. So I believe this is a very nuanced and very complicated relationship. As for the fed, I generally believe our treasury should be in the hands of the people and not just the POTUS. And it should definitely not be a private institution it is today. So I do respect people saying interest rates should not be politically controlled. I just think the market itself should control interest rates and take it out of politics altogether.

I happen to work in steel production which I consider to be "heavy manufacturing" and it is very curious how disconnected the stock market and general economic outlook seems to be compared to how our own plant is running. Our plant was "marked for death" during Biden's administration when the general economy seemed much better. But is now ramping up and booming to levels I have rarely seen before. It makes me wonder where the orders are coming from and how long this is going to last? If this plays out like Trump's last term, it will last as long as Trump's does. And we will then expect another "warn notice" as soon as the next Democrat replaces Trump in 3 years. I'm not sure I can wait that long for my own retirement (Im almost 68 now).

*hands RVonse the Panglossian Post of the Year Award*

 

[SLD]

So today it’s up over 1,000 because of hope that a trade war will be averted. It probably will. Trump knows he cannot weather another serious market setback. He’ll drop the tariffs significantly, or put in so many loopholes that they’ll effectively be non existent. Trump is also not threatening Powell today. Powell will likely cut rates too I expect in the coming months as Trump offs his tariffs. The markets will go higher for a little while. But bad economic news is coming down the pike as Trump and Doge run the government into the ground and it cannot function.

The problem now is that the markets are so freaking volatile, that it’s almost impossible to make any money. Up, down, up, down, over and over again. Still, the market is set for its worst month since the Great Depression. I predict they will stabilize but only for a few months, and then slowly start to deteriorate.