It is almost like the Orange Turd is an economic moron.
Time for the rich to buy stocks on discount.
Assuming the US can recover…
Normally Trump does what’s best for the ultra wealthy, but de-dollarization of the world economy appears to be good for nobody in the USA. I have no clue what they’re trying to do, I suspect he’s just lost it and there’s nobody left to tell him these tariffs hurt his croneys too.
At this point I wouldn’t be surprised if we’re already too far along to save the dollar’s position globally. Globally that’s probably a good thing, but for any of us in the US it’s decidely not.
I have no clue what they’re trying to do
They published it online. project 2025. They straight up told you what they’re going to do. Add in pooty, whose goals align a great deal, and that’s it. How do people still not get this, they told you what they’re doing.
What does Project 2025 have to say about tariffs?
Project 2025 is split on the issue of foreign trade.[109] Mandate author Peter Navarro advocates what he calls a fair trade policy of reciprocal, higher tariffs on the European Union, China, and India, to achieve a balance of trade, though not all U.S. levies are lower than those of its major trading partners.[126] On the other hand, Mandate author Kent Lassman of the Competitive Enterprise Institute promotes a free trade policy of lowering or eliminating tariffs to cut costs for consumers, and calls for more free trade agreements.[126] He argues that Trump’s and Biden’s tariffs have undermined not just the American economy, but also the nation’s international alliances.[117]
The first guy won apparently.
Another one from 2012:
My 401k today is $520 less than what it was Jan 21st. I put in almost $600 every 2 weeks.
That’s a good chunk of change that just disappeared. I can only imagine how much someone with a bigger retirement account than I have is hurting.
He inherited a growing economy, a healthy stock market and low unemployment. He has undone all 3. Power move!
This is what Trump wants. He wants the market to drop and/or a recession. Why? To force the Fed to drop rates back to essentially zero. Once that happens, expect a blistering turnaround in the market. Everyone and their great aunt will be borrowing money at ultra low interest to buy stocks. The stock market will explode, maybe crypto, too. Inflation will skyrocket. It will be nuts.
They’re already shilling crypto hard and threatening to reneg on US debt. They want to crash the economy, do a full venture capital takeover and set up autonomous states in preparation for the coming inequality revolution.
It’ll be harder to recreate the inequality we’ve seen since the 1970s without the Cantillon effect.
Were passed the inequality we seen in the Great Depression on many fronts.
There’s always a tweet.
This is apparently a fake tweet. An archive of the actual tweet corresponding to that datetime is here.
I was considering trying to cash out my 401k and ira in the US (I bought my first house and I think that’s one of the allowed cases), but hadn’t worked out the details yet. Guess that’s not happening right now. I no longer live in the US and will probably renounce citizenship once my parents go.
I looked at my other investments this morning based on this post and… Lol. Granted, I only one a handful, but it still hurts. My stock that was worth only like 40 cents moved up 5+% so yay for that, I guess.
What happens to your 401k and IRA if you’ve moved abroad and renounce your citizenship? Will it ever be paid out?
Not an American so I honestly don’t know.
I don’t know either. I imagine it just lives on. I can’t put money in them now from Japan anyway (well, unless I want to pay some taxes in the US on top of what I pay here; no thanks). I can’t use Japan’s equivalent either since the US tax authorities will massacre you with paperwork and fines (PFICs). If social security still exists, I worked long enough in the US to get that and it doesn’t matter for that if I renounce.
If social security still exists, I worked long enough in the US to get that and it doesn’t matter for that if I renounce.
Well, hope they won’t change the rules around that if it does still exist by the time you retire. Though generally such things aren’t done retroactively I believe. Once you’ve earned it, you’ve earned it. Even if rules change for future folks. At least in sane countries, but of course we’re talking about the US…
These rules aren’t set by God. Earning it is pretty meaningless.
Rules set by god are just as flaky as any other. Moreso once you realize god doesn’t exist.
The trump regime was designed to TANK the US economy so that stocks, businesses, and industries can be bought by billionaires at rock bottom prices.
All is going according to plan.
Its Russia in the 90s all over again. Must be a coincidence that the Russian mafia-turned-regime they’re so chummy with, got its foot in the door and secured its power through an almost identical move.
Im wondering if America will have its equivalent of the 1999 Apartment bombings.
