this post was submitted on 31 Jan 2025
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Donald Trump announced new tariffs will take effect this weekend—sending the stock market crashing.

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[–] 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?

[–] 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

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

just part of a republican presidency at this point

[–] 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.