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Tariffs in the second Trump Administration [SPLIT]

One of the highest drops yet - $716 down on the Dow and $481 down on NASDAQ.

I wonder how many more billions of dollars in value it will take before Wall Street makes sure that Trump catches a flu or falls out of a window?

1743193277218.png
 
Trump is destroying the markets.

It is only the middle class holders of equities in our retirement portfolios that see the paper losses.

But he literally is tipping the US into recession.
 
Let’s hope he does cause a recession, I can take the financial pain and it’s the only way half the country will realize that this emperor has no clothes.
 

The problem always is all those who literally can't afford a recession....and as much as I am have closed my heart to the US friends who don't think that they are somehow 'special' and immune from this.

I don't have to care any more unless the US literally invades Canada...wipes out our equity, steels our land and resources and behanves like rrrXXXain in Ukraine.

Oh. Wait.
 
Many people can’t afford a recession and when it hits Trump is likely to double down making it a deep recession and when they turn to their government for help they will be severely disappointed as needing help is now a character flaw. The irony will be that those living in blue states will at least get state help but those who live in red states will not, but they can always wave the flag.
 
The great and unholy irony is that the people who will be the most hurt, are the people who will be clinging desperately to the illusion Rupert sold them.

That's how messiah's work.
 
Before anyone rejoices, this will never get a vote in the House.

...If all 47 members of the Democratic caucus back Kaine's resolution, which is coauthored by Democratic Sens. Amy Klobuchar of Minnesota and Mark Warner of Virginia, at least four Republicans would have to join on for Senate approval. However, it's likely the resolution never comes up in the House, where Speaker Mike Johnson moved earlier this month to block the ability of tariff critics to force a floor vote on ending the kind of national emergencies Trump is citing to levy the tariffs...
Click to expand...


It's largely symbolic and there still no guarantee that Susan who voted to confirm the rapist frat boy and the anti-abortion crusader who never tried a case in court to the Supreme Court isn't just being "concerned" yet again and is yet again going to be just a rank coward.
 
More winning.

1743687497733.png
 
A hunch: a 20-something White House intern or aide was assigned to come up with a list of the countries. Some of the countries on the list aren't inhabited places.

"The boss wants you to put together a list of countries for a project that he's working on". :rolleyes:

NYT seems to have noticed, too:

www.nytimes.com

More Penguins Than People: Trump Imposes Tariffs on Remote Islands

Some of the more sparsely populated territories in the world that do little trade with the United States have been caught up in the trade war.
www.nytimes.com www.nytimes.com
Among the countries and territories listed on sheets of paper that were distributed to reporters in the White House Rose Garden on Wednesday were Heard Island and McDonald Islands, Australian territories near Antarctica where many penguins but no people live. Also listed were the British Indian Ocean Territory, a collection of islands that are mostly uninhabited aside from U.S. and British soldiers stationed at the joint military bases on Diego Garcia.

Some territories face even higher tariffs than their governing nations. Norfolk Island, an Australian territory in the South Pacific Ocean, faces 29 percent tariffs, compared with the 10 percent rate Mr. Trump imposed on the country.
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Not on the list: Belarus, Cuba, North Korea, Russia...
 
This cartoon was posted in the memes thread but it's a good reminder about what happens when prices are increased with a tariff- the US manufacturers use the opportunity to increase prices, too:

marty-two-bulls-sr-m2bulls-com.jpg


Steve Rattner gave an example of this with Trump's 2018 tariffs on washing machines. Before Trump, washing machines cost about $750. Trump levied tariff's on washing machines (most of which which are made in China) and prices rose to $925. Biden removed the tariff in 2023 but the price only dropped to $850, which was $100 higher than the pre-tariff price - a 13% increase in the pre-tariff price. Retailers also used the opportunity to raise prices on dryers, knowing that consumers bought new dryers when they bought new washers.
1743702479735.png

 
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Obviously, it must be clear to the wing-nut MAGAts by now that tariffs is not about drugs or immigrants although those penguins can be shifty.

The markets are plunging again today while the White House tries to keep Wall Street onside.

Trump is determined to break the whole world except for his Kremlin pals.
 
Trump keeps telling us that everyone has been screwing us for yrs yet we somehow managed to have the strongest economy in the world with the wealthiest population. It’s a moral failing both individually or collectively when the wealthy only see those with less as something to be squeezed.
 
Norri said:
Trump keeps telling us that everyone has been screwing us for yrs yet we somehow managed to have the strongest economy in the world with the wealthiest population. It’s a moral failing both individually or collectively when the wealthy only see those with less as something to be squeezed.
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Well, ask yourself this, "Do you feel more screwed by billionaires or by textile workers in foreign countries?".

If you answered "billionaires", then you have figured out why Trump is trying to distract everyone and blame our problems on someone else.
 
Market close:
1743712214946.png


Over on Earth 2:
1743712282998.png
 
KaraBulut said:
Market close:
View attachment 3002794


Over on Earth 2:
View attachment 3002795
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I am not sure of this. Even price fixing isn't going to change that everything from everywhere is now about 20% more expensive.

And price fixing will crash a whole bunch of other stocks, leading to layoffs, downsizing, closures etc. There will be no wage increases anywhere but prices always are rising, choking off discretionary spending.

TrumpCo. aided and abetted by the wealthiest people in America is purposefully crashing the US economy and world economy into the wall.
 
rareboy said:
I am not sure of this. Even price fixing isn't going to change that everything from everywhere is now about 20% more expensive.

And price fixing will crash a whole bunch of other stocks, leading to layoffs, downsizing, closures etc. There will be no wage increases anywhere but prices always are rising, choking off discretionary spending.

TrumpCo. aided and abetted by the wealthiest people in America is purposefully crashing the US economy and world economy into the wall.
Click to expand...
Ergo, it's "Earth 2". They are still desperately trying to put lipstick on a big, fat, ugly pig.

They were expecting another $400 drop in the Dow. They got $1,700. One insane autocrat just erased $25 trillion in worldwide wealth in one day. Thetre's not enough lipstick to make this look pretty... even though the Trump Administration is still desperately painting the pig.

So, here we have Plan B:
1743715082237.png

"Pay tribute to the Pope, receive an indulgence in return". It may be too little, too late because I don't think we're done with the market crash, yet.
 
KaraBulut said:
Ergo, it's "Earth 2". They are still desperately trying to put lipstick on a big, fat, ugly pig.

They were expecting another $400 drop in the Dow. They got $1,700. One insane autocrat just erased $25 trillion in worldwide wealth in one day. Thetre's not enough lipstick to make this look pretty... even though the Trump Administration is still desperately painting the pig.

So, here we have Plan B:
View attachment 3002825

"Pay tribute to the Pope, receive an indulgence in return". It may be too little, too late because I don't think we're done with the market crash, yet.
Click to expand...
The reaction this time is pretty wild across the board....

Maybe it takes the white, comfy middle class seeing thousands wiped off their investments and prices jumping by double digits to GET THE FUCKING MESSAGE.

And meanwhile...the rest of the world didn't fucking sign up for this.

It is so hard to take the US seriously as a responsible nation at all now.
 
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