The world economy.
Anyone watching the big game tonight?
- Thread starter StevenC
- Start date
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nightflameauto
Well-Known Member
Henry Caville will Superman him into oblivion.
This type of shit is intentional by Trump's actual owners, folks like Musk. The more they can tank the economy, the more likely it is they'll be able to buy up huge swaths of struggling businesses. They want it all, and if they can do it they'll repeatedly crash the economy over and over to make it easier to acquire. Consequences to others don't even register to these people. This is about Greed as God, their one and only moral compass.
thebeesknees22
SS.org Regular
I just looked at my investments.
...Goodbye monies.
...Goodbye monies.
wiretap
Well-Known Member
Dumbasses voted for a dumbass who is doing dumbass shit. No news there.
On another note.. The White House is claiming Russia and North Korea aren’t on the list because they are already heavily sanctioned.
Do they mean like Iran and Venezuela? Two other heavily sanctioned countries that ARE on the list?
Huh.
But hey, patriotism or whatever
.
Demiurge
Well-Known Member
I shouldn't have looked, but I had to look. This extended reactionary temper tantrum has only cost me the equivalent of half a year's salary so far. Peanuts, really.I just looked at my investments.
...Goodbye monies.
nightflameauto
Well-Known Member
I'm not gonna look at my retirement funds. I'm not gonna look at my retirement funds. I'M NOT GONNA LOOK AT MY RETIREMENT FUNDS!
Oh, cool. Only lost about 150k worth of value. No biggie.
Oh, cool. Only lost about 150k worth of value. No biggie.
thebeesknees22
SS.org Regular
holy crap. Yeah my losses are pretty big too, but not quite that bad yet. All of mine are still in Canada though, and with the CAD going back up due to this nonsense, my losses aren't as bad as they could have been. I am back below what I had in one account pre-covid though. So 6yrs of gains ...poof gone. Just like that.
I haven't opened investments in the US since I came back since I was saving up for a house down payment, and from the looks of it, I won't be investing for a good while until it looks like we're closer to the bottom. (ie: when trump is gone)
ElysianGuitars
Well-Known Member
My mom, who retired last year, is probably going to be hurt by all this stock market crap, as well as Elon wrecking social security.
profwoot
SS.org Regular
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There's still no reason to believe Trump even knows what a Tariff is. What a shitshow. Thinking about buying some gear today before all the prices go up.
Also, Trump doesn't have the legal authority to apply these tariffs. Congress some time ago gave the president the ability to apply limited tariffs during an economic emergency, but the only economic emergency is being caused by the tariffs. The House could stop all of this immediately if they gave a shit.
Also, Trump doesn't have the legal authority to apply these tariffs. Congress some time ago gave the president the ability to apply limited tariffs during an economic emergency, but the only economic emergency is being caused by the tariffs. The House could stop all of this immediately if they gave a shit.
wankerness
Well-Known Member
Yeah, a lot of retired people are going to be fucked if they don't die sooner than they expected. A lot of people's retirement accounts were contingent on a gigantic moron not doing his very best to destroy this country's economy. I suspect that those of us who weren't going to retire for decades will be fine, but those trying to retire now? Ooof.
In other news, my struggling little college just got notice from the government yesterday that a huge grant we'd been getting for years is cancelled effective immediately, because they (the NEH) are supporting the new president's agenda.
In other news, my struggling little college just got notice from the government yesterday that a huge grant we'd been getting for years is cancelled effective immediately, because they (the NEH) are supporting the new president's agenda.
wankerness
Well-Known Member
IIRC they passed some idiotic legislation that gives him carte blanche to do this cause he declared an emergency and then the legislation declared that "one government day = infinite days." Something to that effect.
EDIT: Ah, here it is. He can do whatever he wants till the end of the calendar year. I had the order wrong. They passed this in advance of him declaring the emergency, basically preauthorizing him to be able to do this for the entire rest of the year unless the house and 66 senators agree to impeach him (will never happen).
House GOP blocks Democrats from forcing vote on repealing Trump tariffs
House Republicans on Tuesday approved a provision that would prevent Democrats from forcing votes for the remainder of the year on repealing recent tariffs implemented by President Trump. It essent…
thehill.com And the emergency declaration? That was yesterday, "PURSUING RECIPROCITY TO REBUILD THE ECONOMY AND RESTORE NATIONAL AND ECONOMIC SECURITY: Today, President Donald J. Trump declared that foreign trade and economic practices have created a national emergency, and his order imposes responsive tariffs to strengthen the international economic position of the United States and protect American workers."
jaxadam
Well-Known Member
DJIA is up on the 1YTD from 38,000 to 42,000, and only down 0.75% for 2025. How are you guys getting killed so badly?
MetalDestroyer
Heaven's Football Bat
401k's are made up of SPY equivalents, which is overweighted on 7 tech stocks. The world has decided that diversification is not worth giving up the gains of the SP, which has resulted in overexposure to market volatility that they are not prepared to absorb.DJIA is up on the 1YTD from 38,000 to 42,000, and only down 0.75% for 2025. How are you guys getting killed so badly?
jaxadam
Well-Known Member
401ks are weighted in whatever you want them to be weighted in. The consumer chooses from their employee offered plan. We are actually going through making some changes to this right now and I just got off of the phone with our 401k advisor. That said, SPY and tech stocks are still up over the last year.
nightflameauto
Well-Known Member
I'm not willing to waste me whole day digging into it, but since I've been with this 401k plan for almost thirty years now (Jesus Christ, I'm old!), I've always kept the most conservative group settings, the least vulnerable. Apparently, what's happened over the years, is that the conservative / least vulnerable group settings actually has been led into a circus act by pretending that whatever some advisor on the oversight committee is fapping over is the conservative choice. So, for the most part, the "let my money grow slowly with as little risk as possible" choice is now one of the more volatile ways to go.
I may have to sit down with my finance guy and actually make some individual choices, rather than taking the advisory group's recommendations going forward, but I'm not sure if it's smarter to do that now, while I'm in the gutter, or wait to see if the gutter is actually much lower in the dirt than I am today.
I may have to sit down with my finance guy and actually make some individual choices, rather than taking the advisory group's recommendations going forward, but I'm not sure if it's smarter to do that now, while I'm in the gutter, or wait to see if the gutter is actually much lower in the dirt than I am today.
Metalman X
The Resplendent Sub-Human
I always assumed for them the ultimate would be like, old American Gladiator reruns on mute with Hannity blasting in the background while perusing Roblox chatrooms in the guise of an 11yo child.... or wherever on a veng diagram all kinda' that stuff intersects.
tedtan
Well-Known Member
I’ve been saying this since he started running for office back in 2015. Unfortunately, it’s either 1) been preaching to the proverbial choir, or 2) fallen on deaf ears as Trump’s supporters seem to be living off in some imaginary world rather than in reality.
Buy low, sell high. But in this case, you may want to make sure the prices don’t keep dropping before buying.
MetalDestroyer
Heaven's Football Bat
Yes, but most consumers are unwilling to do the level of research required to choose between 401k plan options, so they just google “what 401k investment”. This usually points them to the target date option which is almost always heavily weighted into the s&p.401ks are weighted in whatever you want them to be weighted in. The consumer chooses from their employee offered plan. We are actually going through making some changes to this right now and I just got off of the phone with our 401k advisor. That said, SPY and tech stocks are still up over the last year.
Additionally, people are panicking about the big red loss number, and not going back to see that they may in fact still be up year on year. All it takes is a small percentage of these people panic selling to trigger a sell off large enough to trigger real losses for everyone.
There's no such thing as a free lunch, and it was silly for **whoever the responsible parties are** to convince people their retirement being at all tied to the stock market was objectively "safe" or that it would be worth more than their initial investment with no potential downsides.
I feel terrible for anyone effected that didn't invite this and likewise, my parents are at the age where they're soon relying on their retirement and social security to live BUT some kind of schadenfreude that boomer Trumpies will be dead before whatever payoffs of his supposed economic policies are realized. Good, go eat dog food.
I feel terrible for anyone effected that didn't invite this and likewise, my parents are at the age where they're soon relying on their retirement and social security to live BUT some kind of schadenfreude that boomer Trumpies will be dead before whatever payoffs of his supposed economic policies are realized. Good, go eat dog food.
