Tariffs, but not. Foxholes.

Mr. G said:
This is a process.
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And, we all know that's horsepucky. Trump has no process. His goons have no process. There is no process. There is only chaos. And, you know it.
 
Stock market down 10% in the past two days. Trillions in wealth destroyed. And Trump is just getting started.

I have enough saved to weather all this. I feel sorry for all the middle class people who are seeing their 401k's wiped out. I predict Trump will keep shitting on them.
 
billvon said:
Stock market down 10% in the past two days. Trillions in wealth destroyed. And Trump is just getting started.

I have enough saved to weather all this. I feel sorry for all the middle class people who are seeing their 401k's wiped out. I predict Trump will keep shitting on them.
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You feel sorry for pretty much everyone don't you? Do you generally consider your investments to be "wiped out" when the market goes down?

I agree that these tariffs are stupid and senseless but if a middle-class person has a job and continues contributing to their 401k and wasn't going to pull money out of their 401k anytime soon, why are you particularly sorry for them?

Shouldn't we be sorrier for the poor who have no savings and who have no possibility of ever having any savings due to their birth? It's almost impossible to make it to middle-class isn't it so why be particularly worried about them?

I guess you are just sharing your feeling?
 
Are you all looking forward to paying about 10% more, on average, for all imported items in the US? That's what the Trump administration's calculations predict will be the fraction of the tariff imposition that is passed on to US consumers.
 
Mr. G said:
I'm disappointed.

Tariffs should have been twice as large.
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It's funny, reading the comments on Maga Moron Memes, the far right still believes Musk is a genius who is weeding out all the corruption and Trump's tariffs are being paid by the other countries, all the while calling the left, nazis. And of course, they are thanking Jesus for their upcoming prosperity.
 
The big question is "Will people change their buying habits?".
I am not giving up olive oil or olives. Not sure about other items. I never paid attention to where the item came from. Should I have been more diligent?
 
candy said:
The big question is "Will people change their buying habits?".
I am not giving up olive oil or olives. Not sure about other items. I never paid attention to where the item came from. Should I have been more diligent?
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There will be a rise in the cost of not just imported goods but also the domestic equivalents. So people will have to decide what things they continue to pay for and what they give up. Buying habits will inevitably change, it seems to me.
 
Seattle said:
You feel sorry for pretty much everyone don't you? Do you generally consider your investments to be "wiped out" when the market goes down?
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Nope - but I have managed to get my investments to a point where they are less affected by market averages. That's not true for everyone.

Many people who work for large companies get stock options - and indeed for people who are new to the workforce this can be most or all of their investment savings. When they exercise they can roll over into actual stock. If the stock then crashes, they may end up in a position where the conversion from options to stock (taxable) costs more in taxes than the stock is now worth. And yes, if you end up having to sell all your stock and STILL owe the government money, then you have been completely wiped out.

Hopefully other people will lose less. But for someone on a fixed income from their investments, losing even 20% could be catastrophic.

If you don't have to worry about that - how nice for you.
 
billvon said:
Nope - but I have managed to get my investments to a point where they are less affected by market averages. That's not true for everyone.

Many people who work for large companies get stock options - and indeed for people who are new to the workforce this can be most or all of their investment savings. When they exercise they can roll over into actual stock. If the stock then crashes, they may end up in a position where the conversion from options to stock (taxable) costs more in taxes than the stock is now worth. And yes, if you end up having to sell all your stock and STILL owe the government money, then you have been completely wiped out.

Hopefully other people will lose less. But for someone on a fixed income from their investments, losing even 20% could be catastrophic.

If you don't have to worry about that - how nice for you.
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That's pretty much the way stock markets work though, isn't it? They don't only go up. Now this down market is needless, of course, but if you don't sell, in general, you aren't "wiped out".
 
Seattle said:
That's pretty much the way stock markets work though, isn't it? They don't only go up. Now this down market is needless, of course, but if you don't sell, in general, you aren't "wiped out".
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In general. But more specifically, some people are indeed wiped out, as mentioned above.

Any time you deliberately do damage to an economy, you bear some of the responsibility for the people you harm.
 
billvon said:
In general. But more specifically, some people are indeed wiped out, as mentioned above.

Any time you deliberately do damage to an economy, you bear some of the responsibility for the people you harm.
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Sure, we aren't defending Trump. You said that a stock market decline equated to being "wiped out".
 
candy said:
The big question is "Will people change their buying habits?".
I am not giving up olive oil or olives. Not sure about other items. I never paid attention to where the item came from. Should I have been more diligent?
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Things like Tesla certainly being discussed over here (UK)

www.theguardian.com

Trapped with a Tesla: my dream car has become a living nightmare | The secret Tesla driver

I bought it to be part of a greener future, but that was before Musk proved so awful. I’d sell it now, but prices have dropped, says the secret Tesla driver
www.theguardian.com www.theguardian.com
 
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