Summary
Despite Trump’s 2024 warnings of a market crash under Biden, the S&P 500 is experiencing its worst start to a presidential term in modern history under him, dropping ~15% since Inauguration Day.
This plunge, largely attributed to Trump’s aggressive tariff policies announced post-election (“Liberation Day”), is pushing the market toward bear territory faster than any predecessor since 1957.
The Nasdaq is already in a bear market, and economists increasingly warn the tariffs could trigger a recession impacting widespread stock ownership.
If anyone was expecting anything different then they’re a delusional fuckwit
I knew he’d fuck it up, but i really did not expect it to be this quickly. He is the most massive fuck up of a human I’ve ever seen. Everything he does defies all common sense and reason. And still people follow him to Hell.
I guess I should be a bit lenient cos yeah it has happened swift as fuck, just absolutely horrifying every fucking day and my empathy meter is about to make me explode from all the people this bullshit has hurt. Never, ever forgive magats for this shit.
So Trump voters
Fitting for the worst president in modern history.
So far
Ugh, yeah, that’s true. I’m optimistic that it’ll die with him because I figure no one else could possibly be this shitty, but he’s probably just opening the door for someone who will do more damage.
The only way we don’t end up with worse is if it ends so badly for him that all the other scumbags-in-waiting decide to pick a different career path.
That seems incredibly unlikely. The only chance to stop it without massive, era-defining pain, suffering, and bloodshed would be a stunning and complete mid-term rout that guaranteed successful impeachment for Trump and Vance as well as the Supreme Court.
I only have so many fingers I can cross
Get the toes crossed first.
President Don Jr. inheriting the fascist crown
Yeah I guess he’d be the next one coming in to rule over whatever is left of the country.
I thought that about George W Bush so…
support for him is still strong thanks to the propaganda machine. fox news doesn’t even mention the stock market drop, but highlights important events such as Monica Lewinsky’s return to Hollywoods inner circle and the 50 million saved by DOGE 🙄.
The rich still think the can profit from Trump’s policies, and until that changes nothing else will matter
People trust their account balances. You’re about to see how quickly retardlicans can turn on their owner. Unless of course they’re all dickless cowards…
I’ll believe it when I see it. trump did so many things that would be career ending for anyone else. he got convicted of 30+ felonies. his university closed for fraud. he is banned from operating charities in NY cause of fraud. he’s bankrupted several businesses. not to mention the sexual assault and rape. and his crass behavior.
voters knew all of this. and voted for him anyway 🙄
things may change when the rich lose enough and allow the right wing media to turn against trump. hasn’t happened yet.
What scares me is if/when everyone is furious at these motherfuckers - they are going to need a distraction, and they are going to use every fascist trick in the book to do that. Get ready for more scary B reel of scary dark immigrants in caravans, tales of scary “antifa” attacking upright citizens and cops, “burning cities to the ground”, and so we will be told there is no choice but to declare martial law.
Already, I see Bullshit Mountain prepping them for their black Nikes, their nut-cutting and their magic drink to ride the comet, er, I mean, telling them that money doesn’t really matter and you don’t care about your retirement accounts, guys! I saw Benny Johnson saying it’s no big deal to lose money, how much money did you lose when you were young and dumb, you guys!
I’d show conservatives statistical data proving beyond doubt that Republicans are historically bad for our economy, but all I’d get in return are blank stares and drooling. So what’s the point?
You can’t convince them to vote for a more logical candidate, but if we can make them feel defeated and dissuade them from voting, that’s good enough.
The time for dialogue is over. The party of ‘facts over feelings’ have proven to be incapable of proper reasoning.
They are all vibes, and accuse others of being the emotional ones.
It’s nothing but DARVO.
In this case, it’s so very stark, though. Donvict was handed maybe one of the best economies we’ve seen in a very long time, and he absolutely burned it down.
It was 100% him. And there is no one else to blame and no other cause.
And the Republicans LET HIM DO IT, too.
“You’re so stupid, do you only look at charts? There’s a lot more to it than data, Trump is making decisions you can’t even comprehend. You don’t understand the greater plan, you can’t always be nice to other countries, we can’t bail out Canada and Ukraine if we want to be great.” Probably that from the “smarter” ones, blank stares and drooling from most.
Vibes based political outcomes by people who only believe what they’re told
Can we revert to another save now?
We could, but it was deleted by DOGE to reduce storage costs.
Erdoğan did very similar things, went completely opposite to known economic theories all the while claiming he is an economist. he kept reassuring people that he was freeing Turkey from economic abuse of other countries and that things would be great in a couple years. Now go check the turkish lira to the dollar exchange rate for the last five years. Add on top of the fact that we virtually import everything (including seeds, manure, petrol etc) needed for production of basic essential goods, you can guess how bad the Turkish people are getting it.
What worries me most is that it - and other bullshit - didn’t result in his removal or overthrow. People are just taking it.
Misinformation is one helluva drug.
We have Peter Navarro, er “Ron Vara” and donvict playing America’s version of economic Lysenkoists…it will take longer for the likes of Bobby Brainworm’s Lysenkoism to start killing more Americans than donvict did during Covid.
I luurve how they cherry pick this. Yeah modern history sure, but what about ancient history!?
You forgot your /s. People seem to be thinking you are serious.
I trust people on Lemmy to get the sarcasm more than I would on other forums.
Sarcasm really does not translate when there are people literally saying and meaning that loosing money is not a problem.
Exhibit A:
Where on Earth did you get that idea
Idiots with bone spurs didn’t make it through the first challenge for leadership.
You’re going to earn “world’s fucking stupidest people who’ve ever existed” pretty soon, be patient. Give your boy another week.
Ok so one guy on Lemmy needs the /s !
It’s a percentage, some folks can’t tell or are not paying attention/watching for sarcasm.
the joke was understood in line 2. Sarcasm not detected in line 1.
“Had me in the first half” is a meme for a reason.
So is “not really being all that funny”.
Makes sense. He’s the worst president, no surprise he tanked the best markets we’ve had in a while
Yep. And man, I am already getting sick of bullshit narratives from debbie downer supposed lefties as well as the hard right trying to tell me it was a terrible economy, because that is just a crock.
It seems like it is poised to make what happened in early 90s and again in early 2000s and 2009 a walk in the park…I sure as hell hope that is not the case…but even in the first few weeks of this dumbass, it’s making those comments not age well at all.
That band has some bangers
Don’t worry, it will get worse. You haven’t seen half of it yet.
Thanks Peter Navarro, oops, I mean “Ron Vara”.
This factual reporting is just the latest proof that CNN are lying liars that fake news!
They are pretty conservative now though. It sounds liberal but they slip misinformation and doubt in to make everyone more moderate. Plus sensational claims that lend credibility to right wing critique. That shit works like a charm on my parents, they’ll say “we hate Trump. But you have to admit Joe Biden wasn’t fit for office, he had classic early dementia… Kamala just didn’t seem experienced enough”. They voted Democrat but there’s more doubt and misinformation now, they’re smart people too ☹️
It’s already set in stone. People will start pulling their investments out before the week is out.
Skeletonized me (waiting for any kind of impeachment or counter power):
Start? I though this was ending the market. If I could travel in time to 1882/1896, I would explain it to the founding slave owners like this: basically you tell people to invest, they give you all their money and as soon as they’re about to retire, just tell them the markets lost so you can keep the money! Yeah, they think they’re free and we do have personal flying vehicles now.
Totally… Help them buy a house! Yeah! They think they own the house but here’s what you do…invest $50 on land and build of a house for a slav…citizen thru bank #1 which you own. Then buy the house later with bank #2. Yeah you’ll pay a little more, like $65, but then you sell it back to another foo…citizen for $200. In the future, you children will be selling houses back to the citizens millions! No the stupi…citizens don’t know they don’t actually own the house. They totally think they own the house! Oh and get this! If your house needs repair, just sell it to a fixed upper couple or contractor! They will fix it for you and then pass it off at a profit to another citizen. You get a cut!. Every transaction, you get a cut!!!
