Stock Market Crash

HooRU

https://www.theguardian.com/us-news/2025/apr/04/trump-tariffs-stock-market-news-updates-today

The economy looks bleak. Everyone is letting go of staff, the government is shutting down branches and letting go of our brain trust.

The crazy thing is this is all manufactured and not natural trends. It is preventable. Uncertainty is the word of the day.

takeahike

The End of the World

telcodad

But aren’t you feeling “liberated” today?

The Economist Slams ‘The Madness of King Donald’ With Scathing Takedown of Tariffs
RUINATION DAY
By Tom Sanders, The Daily Beast - April 3, 2025
https://www.thedailybeast.com/the-economist-slams-the-madness-of-king-donald-with-scathing-takedown-of-tariffs/

The Economist has posted a scathing takedown of “The Madness of King Donald” in its latest cover feature, lambasting the president’s “Liberation Day” tariffs as “flat-out nonsense” and “utterly deluded.”

On the same day that Trump flew to Florida for some R&R after his tariff policy caused the U.S. economy to tank, the publication heralded the moment as “America’s total abandonment of the world trading order and embrace of protectionism.” The administration’s “catalogue of foolishness” will hurt American consumers, reduce competition, and damage global trade, they argued, while taking swipes at Trump’s “pathetic” grasp of technicalities and lack of knowledge on the history of tariffs and their applications.

The piece concludes that while Trump’s policies are reckless and based on “deluded” economic theories, the world can limit the fallout by pursuing deeper integration amongst themselves and cutting the U.S out of the picture …

egeezer

telcodad
Are we rich yet? 💰💰💰💰💰💰

HooRU

I think an actual collapse is coming and will go down in history. Mistakes made before my time are being repeated.

Maybe that is the actual goal, to bring it all down so we can have an actual monarch?

I don’t want to disparage along party lines, but it’s getting very worrisome and the silence of many is the most worrisome part. Love your country for crying out loud.

takeahike

HooRU

Where’s Al Capone now that we really need him? Al Capone’s Soup Kitchen. Capone’s soup kitchen, located at 935 South State Street in Chicago, was one of the first of its kind.

Soup kitchens were the only source of food for some people before the Social Security Act was implemented. Help sometimes came from unexpected places during the Great Depression, including one of Chicago’s most notorious gangsters.

Many were in dire circumstances during the Great Depression. Jobless and in want of food, they depended on others more fortunate for their daily meals. Al Capone’s soup kitchen, which was located in a prominent, easy-to-find area of the city, was one unlikely place the needy of Chicago frequented. A notorious gangster and Mafia member, Capone became a sort of “Robin Hood” figure to the people of Chicago. His soup kitchen offered three meals a day to many who would otherwise have never had even one. In the eyes of many, he did more for the local poor than the U.S. government. People and newspapers alike heralded Capone’s generosity. One Chicago Tribune headline read: “120,000 meals are served by Capone Free Soup Kitchen.” On Thanksgiving 1930, he provided meals to more than 5,000 men, women, and children.

RayGeode

takeahike
I was expecting REM but “Skeeter” is about as good as it gets.
I’m going back to HTML class to learn how to embed a link here. The custom text is the key.

telcodad

HooRU I don’t want to disparage along party lines, but it’s getting very worrisome and the silence of many is the most worrisome part.

Yes:

The only thing necessary for the triumph of evil is for good men to do nothing.

Edmund Burke

telcodad

Selloff Continues. Dow Set to Open Down After $3.1 Trillion Wiped of U.S. Markets.
The S&P 500 and Nasdaq 100 are also falling in premarket trading as President Donald Trump’s tariffs leave destruction in their wake.
Barron’s - April 4, 2025 at 6:37 AM EDT
https://www.barrons.com/livecoverage/stock-market-today-040425

Milo_DeTeckel

Finally the overinflated Stock Market is getting the correction that was long overdue!

telcodad

Milo_DeTeckel Finally the overinflated Stock Market is getting the correction that was long overdue!

But maybe an over-correction, now?

Dow heads for another 1,000-point drop, futures indicate, after China retaliates to Trump tariffs
CNBC - April 4, 2025
https://www.cnbc.com/2025/04/03/stock-market-today-live-updates.html

Milo_DeTeckel

telcodad

Not until the Stock Market goes below where it was at before 1969! Inflation was not a problem before 1969!

telcodad

Milo_DeTeckel Not until the Stock Market goes below where it was at before 1969!

“Be careful what you wish for, you might just get it.”

telcodad

The “silver lining” in this crash, at least gas will be cheaper!

Oil prices are crashing after tariffs and OPEC deliver a double whammy to energy markets’

US oil prices tanked more than 7.5% on Thursday.
President Donald Trump’s tariffs are battering energy markets as recession fears climb.
A surprise decision by OPEC+ to boost oil output accelerated the decline.
https://www.businessinsider.com/oil-prices-crash-trump-tariffs-opec-production-recession-trade-war-2025-4

telcodad

There Is Only One Way to Make Sense of the Tariffs
The policy is absurd. It’s also an extension of Trump’s chaotic personality.
By Derek Thompson, The Atlantic - April 3, 2025
https://www.theatlantic.com/politics/archive/2025/04/tariffs-trump-outcomes-incompatible/682286/

Yesterday afternoon, Donald Trump celebrated America’s so-called Liberation Day by announcing a slew of tariffs on dozens of countries. His plan, if fully implemented, will return the United States to the highest tariff duty as a share of the economy since the late 1800s, before the invention of the automobile, aspirin, and the incandescent light bulb. Michael Cembalest, the widely read analyst at JP Morgan Wealth Management, wrote that the White House announcement “borders on twilight zone territory.”

The most fitting analysis for this moment, however, does not come from an economist or a financial researcher. It comes from the screenwriter William Goldman, who pithily captured his industry’s lack of foresight with one of the most famous aphorisms in Hollywood history: “Nobody knows anything.”

You’re not going to find a better three-word summary of the Trump tariffs than that. If there’s anything worse than an economic plan that attempts to revive the 19th-century protectionist U.S. economy, it’s the fact that the people responsible for explaining and implementing it don’t seem to have any idea what they’re doing, or why. …

real_aurgathor

HooRU The crazy thing is this is all manufactured and not natural trends. It is preventable.

It *was* preventable.

Andyross

Dan Rather recently posted the quote: When a clown moves into a palace he doesn’t become a king, the palace instead becomes a circus - Turkish proverb.
https://www.yahoo.com/news/dan-rathers-post-donald-trump-194053988.html

px_eliezer_

A group of barren, uninhabited volcanic islands near Antarctica, covered in glaciers and home to penguins, has been swept up in Donald Trump’s trade war, as the US president hit them with a 10% tariff on goods.

Heard Island and McDonald Islands, which form an external territory of Australia, are among the remotest places on Earth, accessible only via a two-week boat voyage from Perth on Australia’s west coast. They are completely uninhabited, with the last visit from people believed to be nearly 10 years ago.

Nevertheless, Heard and McDonald islands featured in a list released by the White House of “countries” that would have new trade tariffs imposed.

https://www.theguardian.com/us-news/2025/apr/03/donald-trump-tariffs-antarctica-uninhabited-heard-mcdonald-islands

This PROVES how incompetent his team is.

On a more crucial note, pretty much every economist and trade expert in the world feels that the Orange Math is based on totally wrong equations.

At SOME point all this will become too much EVEN for the Fox News people and the assholes on AM Talk Radio, to brush aside.

px_eliezer_

Milo_DeTeckel Finally the overinflated Stock Market is getting the correction that was long overdue!

Please tell me (seriously) if you fully mean that, or are you being sarcastic, or are you somewhere in the middle?

Donoreo

px_eliezer_ A group of barren, uninhabited volcanic islands near Antarctica,

They are owned by Australia and have the same tariff. The only thing I can think of is they wanted to pad the list to make it longer, except that when it comes to Svalbard. It has a 10% and the rest of Norway is 15%. So incompetence it is then!