Stock Market Plummets as Trump Announces New Tariff War : progressivepolitics

[–] Quill7513@slrpnk.net 83 points 6 months ago (1 children)

this will address the eggs, surely

[–] whostosay@lemmy.world 10 points 6 months ago (3 children)

Are eggs even fucking real at this point?

[–] Quill7513@slrpnk.net 7 points 6 months ago

they never were

[–] Nioxic@lemmy.dbzer0.com 1 points 6 months ago (1 children)

Surely price of chicken meat will increase too. (well, everything, probably)

[–] humanspiral@lemmy.ca 2 points 6 months ago

If you can deny avian flu is real, you can sell sick chicken meat. Defund CDC to lower chicken and egg prices!

[–] Pollo_Jack@lemmy.world 1 points 6 months ago

Nothing republicans say is ever true nor complaints ever real. Migrant caravans? Forced genital mutilation?

[+] FMT99@lemmy.world 73 points 6 months ago* (last edited 1 month ago) (4 children)

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[–] webghost0101@sopuli.xyz 41 points 6 months ago (3 children)

Stock market is a load of bull anyway. Just a glorified casino based on socio-theoretical math

Companies can make record profits all the time but it will never trickle down to benefit normal people as long as they have a choice to keep it.

[–] Quill7513@slrpnk.net 30 points 6 months ago (2 children)

stock value is also strictly based on perceived value rather than real value. companies are incentivized to lie about their performance to inflate their stock value for their biggest shareholders

[–] Eheran@lemmy.world 3 points 6 months ago

The lies would also happen if it was about the current value of the company.

But that it is about the perceived value or future value is simply a logical consequence: If you assume the company will be much better off in 2 years, you will buy those socks, just like everyone else. So it goes up without the company actually being any better.

[–] FlowVoid@lemmy.world -1 points 6 months ago* (last edited 6 months ago) (1 children)

They can't lie about the dividends they paid out, and dividends are a big part of perceived value. To lots of people, they are the only important part.

[–] Quill7513@slrpnk.net 6 points 6 months ago (1 children)

look into how many "high value" stocks actually render dividends. dividends are an extremely minor part of these "financial markets"

[–] FlowVoid@lemmy.world 5 points 6 months ago* (last edited 6 months ago)

More than half of the top ten companies by market cap do pay dividends: Apple, Microsoft, Nvidia, Meta, Broadcom, and Walmart.

Not all do, of course. That's exactly why some of those "high value" stocks are probably in a bubble, and soon to become not so high value.

[–] alekwithak@lemmy.world 6 points 6 months ago (1 children)

So are 401Ks but not many have a choice.

[–] somethingsnappy@lemmy.world 2 points 6 months ago (1 children)

It's has always seemed insane ro me that those of us lucky enough to have IRAs of any type, some with employer match, never move the stock market. Once or twice a month, millions of people add money to the stock market and there is no change. You'd think you could place index bets for it to go up when those hit the market, but their value has clearly been captured by day trading ahead of time. So stupid.

[–] bassomitron@lemmy.world 1 points 6 months ago

Most of those are in diverse packages, though. So yeah, millions of people add in once or twice a month, but it's across tons of companies/industries. And it does move the market, but there's also tens of trillions of dollars in the market so the amount moved isn't super noticeable to anyone really but those that watch the market for a living.

[–] _cryptagion@lemmy.dbzer0.com 1 points 6 months ago

well, making tons of money on the stock market isn't even tied to making record profits, since it's nothing really more than a popularity contest between rich hacks.

[–] Rhaedas@fedia.io 38 points 6 months ago

An honest reporting would use percentage movement, in which case this drop was .7%. Typical activity. The first circuit breaker put in place to prevent a stock run begins at a 7% drop, and that only stops things for 15 mins because it's not even critical yet at that point.

But to the average person who knows little about the stock market, 350 points sounds like a lot, so it gets views, especially when it's supposedly connected to another event that "caused" it.

[–] henfredemars 8 points 6 months ago (1 children)

I appreciate the reassurance. I just started a rollover to my new job which means everything has to get sold. I don’t have a lot in retirement, but that’s what I’ve got.

Hopefully, in the grand scheme of things it won’t be a huge deal any more so than the general collapse of society.

[–] bahbah23@lemmy.world 8 points 6 months ago (1 children)

Presumably, if you're selling low, you're also buying low into your new plan. Does it not wash?

[–] henfredemars 6 points 6 months ago

Indeed! Indeed. That's the hope. Not my goal to cash out.

Of course this won't help if we're all starving but for today I'm still trying to plan for a future.

[–] humanspiral@lemmy.ca 3 points 6 months ago

May drop a bit more Monday. Big 3 autos are a small segment of S&P now. Tesla may face retaliation. NORAD fees is the nuclear option. "declaration of war" official statement, and US companies standing by their Canadian supply chain is the key "unknown", but either way means Canada is a friend, that undermines Trump, or enemy that undermines US economy/S&P.

[–] sp3tr4l@lemmy.zip 53 points 6 months ago* (last edited 6 months ago)

Great Depression 2.0 here we come!

The numbers Trump is spouting make it fairly clear that he does not understand the difference between a trade imbalance, and a revenue vs cost accounting imbalance in like a single business.

EDIT: Oh dear fucking god, its even worse than I thought:

https://www.americanbanker.com/news/gop-floats-credit-union-taxes-repealing-fdic-orderly-liquidation-authority

(use firefox reader mode if you can't read the whole article)

tl:dr;

The GOP/Trump want to functionally repeal Dodd-Frank and make it so Wall Street investment banks that blow up don't actually have to pay back their creditors.

Even the BERNANK thinks this is insane:

Many financial crisis veterans argued against the bill, including former Federal Reserve Chair Ben Bernanke, who said in a Brookings piece that repealing orderly liquidation theory "would be a major mistake, imprudently putting the economy and financial system at risk."

They also want to either entirely or massively defund...

Office of the Comptroller of the Currency, the National Credit Union Administration, FDIC, CFPB and Office of Financial Research.

bye bye, miss american pie

[–] rickdg@lemmy.world 47 points 6 months ago

all hail cheeto brain

[+] IDKWhatUsernametoPutHereLolol@lemmy.dbzer0.com 28 points 6 months ago* (last edited 3 months ago) (1 children)

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[–] YarHarSuperstar@lemmy.world 5 points 6 months ago

I heard there was a similar incident involving a plane almost going down in the same area last week. Not sure if that's significant at all. My fear is they're planning for a false flag.

[–] motor_spirit@lemmy.world 25 points 6 months ago

just part of a republican presidency at this point

[+] PapaSkwat@lemy.lol 24 points 6 months ago* (last edited 4 months ago)

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[–] LovableSidekick@lemmy.world 10 points 6 months ago

"Trade wars are easy to win!"

[–] JasonDJ@lemmy.zip 7 points 6 months ago

I hope when we come out on the other side of this the rest of the world isn't too mad at us. Maybe Greece sends over all their yayas to give us hugs and lamb. That'd be nice.

[–] _cryptagion@lemmy.dbzer0.com 6 points 6 months ago

Oh now, what'll happen to all their fake wealth now?! This is the worst of news!

[–] blakenong@lemmings.world 5 points 6 months ago

This means prices will go down right? Right?

[–] FlashMobOfOne@lemmy.world -1 points 6 months ago

I just wish he'd waited a week so I could get extra shares when my paycheck hits. Love buying my stocks at a discount.

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