2024 was the worst time to start saving for my retirement… But hey, at least I haven’t lost as much as others… 😒
you know what. In a very broad philosophical way, i support Trump’s Tariff. It would lead to reduction in global consumption rates, esp the amount of resources Americans and Europeans consume. More Tariffs- >Less consumption-> healthier planet. Win. This is a 5D move by Trump that even he is not aware of.
In the same way that Nero was an enviromentalist, burning Rome to the ground meant that fewer people were throwing shit in the Tiber, im sure the fish appreciated that.
According to the boss at my house, we’re back to zero from when we moved during the first days of the pandemic. The moral at work is at an all time low. Everything is super expensive now. If I’m hurting, there must be a hundred people who are hurting even more. So anyway, if I was at the top I would stop soon.
Imagine a world where everyone is hurting financially and they know it was you who stole from them. No matter where you went, friendly or unfriendly, everyone is your enemy. Looking directly at putin for example, Putin can never go anywhere without protection. He can never enjoy a single five star restaurant without fear that his food is tampered. Forever stuck eating Twinkies and coke?
I maintain that the tampered food problem is exactly why Drumpf eats at McDonald’s. There are so many stores that he can send someone to go get it for him, knowing that the food is clean, because they have no clue what specific locations he’s going to order from on any given day.
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Futures markets, which are a way for traders to move stocks when the major exchanges are closed
When are we going to call this the gambling addiction it is?
It’s actually the stock market that’s ridiculous for closing at all. It causes big problems like gaps in trading prices where you can easily miss the stop price.
It’s 99% automated and we still follow the work schedule of New York for no reason
What will be extremely funny is if the market drops so fast that the ‘circuit breakers’ get triggered.
Basically, the SP500, the DJIA… most modern exhanges have rulesets that say if a particular stock… or entire market… drop too much, too fast, trading on them is then just ended, for the rest of the day… I think there are some theoretical scenarios where the trading pauses can last more than a day.
If that manages to happen… Trump will have literally broken the markets.
Seeing as I don’t have a 401k: This would be extremely funny.
Even if the markets don’t crash that fast…
We are looking like we will have such massive drops in so many stocks over… the past few months, and likely next week…
Well… a lot of companies … finance a lot of their operations with debt. (EDIT: In particular, leveraged buyouts, ie, buying another company, with a loan) Debt based on their shares as collateral. So… when your stock goes down enough… now the lenders want … more stocks, more money, a higher interest rate, whatever is built in to their exact contracts.
Basically, we’re probably gonna start to see a bunch of people and companies get margin called.
And that will further intensify panic and general chaos.
(Elon Musk in particular is extremely likely to be utterly fucked by this kind of scenario)
EDIT: Whoah BOY its monday now, update time!
https://seekingalpha.com/news/4429010-asia-stocks-panic-selling-tariffs-circuit-breakers
Multiple Asian markets blew out their circuit breakers and halted trading.
Japan, SK, Taiwan at least had this happen.
US and EU markets, as far as I can tell, are dropping/dropped hard, but have not yet hit any circuit breaket halts.
The SP500 did momentarily enter Bear Market territory, which is defined as a 20% drop from the last high… which was in mid February.
So uh yeah, welcome to Great Depression 2.0 everyone!
Didn’t Ryan Cohen trigger it when he rug-pulled BBBY? I diamond-handed it like a good little bitch, but I broke even at least.
I am not a degenerate memestock/crypto gambler so I didn’t follow any of this…
https://www.forbes.com/sites/qai/2022/08/18/why-do-stocks-get-halted-bbby-stock-is-a-modern-example/
But yes, apparently this did actually happen, circuit breakers got triggered on BBBY when Cohen did some fuckery a few years back.
But on this blessed day… we are all meme stocks.
praise be to the godking and his delicate, small, guiding hands
I’ll do it again bro
Not a cryptobro though, don’t group me with them
I just said I’m not one, your finances are between you and your… fund manager, god, youtube financial advisor, whoever, I have no idea.
Unless of course you’d be willing to share some of those finances with an overeducated, now crippled from a brutal physical assault and mugging, living off of SSDI, potentially over opinionated and snarky nerd.
funny is if the market drops so fast that the ‘circuit breakers’ get triggered.
One of them already popped. I think it was the Nikkei.
They need more time to commit crime. The trading day was not long enough for all the crime they were trying to fit into it.
It’s because the exchanges don’t want to have to maintain three times as many support staff in rotating shifts.
You will have trading spread through more hours
i wonder how many more days of this have to happen before the billionaire class start buying stocks for pennies
They were given a heads up and shorted the market first, so they’re gonna take all those profits and use them to buy the dip
Weeks at best, possibly months. And that’s still best case.
This ain’t even the big crash yet.
That happens when Trump finally caves and removes his tarrifs, and everyone else just shrugs and leaves theirs on.
It’s obvious as fuck, but so was what happened last week. We’ll see a small bounce as he announces his are being removed, then shit gets real
Not that these are normal economic times, but I read that when the 2 and 10 year treasury bills become inverted and then go back to normal there’s about 7 months before a recession hits. This trend has been true for the last 50 years. If this holds up, the recession will be here around August, but we know donny will bring it beautifully and ahead of schedule. The best recession, probably ever.
It was inverted from 2022 to 2024 and we were completely fine
i mean sure, as long as you were making more than $120k and were located in an area with low cost of living
The Biden economy was actually pretty good, you whiners basically handed the election to Trump
i want to make it abundantly clear. rebublicans are horrible terrible no good very bad fascists. but one of the goals of the left needed to be convincing the democrats that being republicans circa 2006 wasn’t doing any of us any favors. the inflation of the post covid lockdowns era was similar in nature to the economic recovery of the post recession era: it wasn’t reaching everyone everywhere. that’s what bernie sanders was talking about when he said a democratic party that turned its back on the working class had the working class turn its back on them.
it’s not whining to say that neoliberal economic policies don’t benefit everyone everywhere equally. biden obsessed with traditional economic indicators, meanwhile people’s paychecks were not keeping pace with the increasing cost of living that was resulting from unchecked systemic greed. the minimum wage needed to go up. the healthcare system needed to be adjusted again. overall the desperately poor needed to be given assistance to not be desperately poor.
i would argue this desperation, and the democrats refusal to listen to that they needed to apply consequences to fascism and engage more with economic populism was what handed trump the election. telling people who are desperate to shut the fuck up, everything is going great, actually, is incredibly tone deaf. and to reiterate: the MAGAts are embarrassingly unaware of who and what they just voted for and that things are getting worse now because in the race between bad and worse they chose worse. being desperate is no excuse for voting for trump. but the democrats also have no excuse for doing so little to provide for the little guys. Kamala started out strong promising people housing assistance, but stopped emphasizing that down the stretch as she courted corporate donor money.
People’s paychecks in fact did keep pace with inflation
VIX is what’s important…
It’s basically volatility.
https://www.investing.com/indices/us-spx-vix-futures
Shits fucked homie, right on time for our once a decade economic crash. Maybe more like COVID than 08, but we’re past the point where hitting the brakes can help. To a certain extent it’s too late to brace for impact if you haven’t
I sold all my stocks and switched to bonds in my 401k in February. Fidelity then started messaging me that I was too conservative and needed to mix in stocks since I wasn’t gonna retire any time soon, as if I’m ever gonna be able to retire. Last Friday when it went down 5% or whatever, I was up .5%.
I missed the 2008 crash cause i didnt have any money. I was too slow to react to covid. I’ll try to buy back in when it’s on the other side of the bottom. In the meantime, I’m saving up for 8 months worth of income.
They are not going to leave their tariffs on, that would defeat the point of retaliation
I’m no millionaire but I definitely sold my stocks shortly after Trump was elected so I’m at least not too worried as I might be able to get them back for pennies. For once a market crash might actually benefit me. If only house prices came down as well, then I might actually be able to afford one.
that’s why this is happening. this is the point.
If I was a betting man, I’d get the hell out of stocks and bonds and go to the horse races because this economy is FUUUCKED!
You would sell low?
no. I would sell high.
today’s low is tomorrow’s high.
Silver is under $30, gold is in it’s correction but at 10:1 I think silver is the right play still. Just my personal preference but I think gold is good when the ratio is more like 5:1.
I haven’t bought gold in awhile.
edit: lol, mad techbro comin’ at me. Stay mad and keep F5ing your account. I still haven’t looked and I won’t. It’ll do what it do, I’m not panic selling.
I’m downvoting you because nobody asked about silver
I’m downvoting you because nobody asked about silver
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