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13 Comments
belter
The Russian Ruble is up 3%. (No joke)
https://www.google.com/finance/quote/RUB-USD
Trasmatta
Remember, this is the president that won largely because of people's dissatisfaction with inflation, and his promises to "fix" the economy.
Instead, he's decided to wage a pointless trade war that nobody asked for, and came out yesterday essentially saying he's totally okay with a recession coming out of it.
The only thing more absurd is the fact that some people didn't see this coming. He signalled everything that he's doing now during his campaign, over and over.
I will say I'm pretty happy with how badly TSLA is doing.
exochrono
https://archive.is/1ywXe
voidhorse
This administration is either intentionally performing market manipulation or is simply incompetent. Either way, we all lose.
Hope the general populous is happy with their choice, lol.
JKCalhoun
It'll be wild to see how Congress responds.
softwaredoug
After the election I know Canadian and colleagues from other countries thought of moving to US for an easier time building a business. Curious if anyone from the founder / small business crowd has had this feeling and either is still interested/happy with such a move? Or regretting it?
IIRC Culturally it was said by many that the US is much better that EU / Canada for building a business as US rewards ambition. While other countries it’s seen as not as positive of an attribute. Other countries did not let you easily build wealth or grow a business, while it was said US is culturally more welcoming to building wealth.
I’m curious how this will change in this administration.
Freedom2
It's amazing how the myth of "Republicans are good for the economy" has grown. What's their record for recessions again? And while we might not be hitting one (it's still too early to tell), we're hitting record speeds of downtown from Presidency starts.
BenFranklin100
Tesla stock has been particularly hammered. Ontario apparently cancelled a Starlink contract and Italy is considering to do so as well. Musk’s political antics are affecting his businesses.
bparsons
This is all looking like a strategy to intentionally depress asset valuations so that they can be acquired at fire sale prices.
paxys
The standard move is to hunker down for the next 4 years, keep buying low, and wait for Democrats to come back and fix things in their next term. The same cycle has repeated what, 5 times in the last 30 years?
fatbird
Peter Navarro is the big driver of Trump's economic approach (and he's a mercantilist quack):
https://hatchetmedia.substack.com/p/the-man-behind-trumps-wa… (podcast with Justin Ling, a great independent journalist)
and https://www.bugeyedandshameless.com/p/beggar-thy-neighbor-be…
maxglute
Times needs to get less interesting.
rekabis
Stocks won’t fall as far as the economy, so when people start selling off everything not nailed down just for tomorrow’s food, the wealthy can swoop in and buy it all up for pennies on the dollar.
It’s the whole game plan, after all. Land, especially: generally speaking no-one is really making any more land all that fast, and when it comes down to your family starving or selling off your land for food, the land goes pretty f**king cheap and pretty damn fast.
By this method, the Parasite Class will end up owning all the land and everything in it, and the entire Working Class will become the modern version of tenement farmers or those living in company towns – slaves, essentially.