US stock market tanks as recession fears rise

[Sepsami 20,971]

9 hours ago, Lucas said:

The trumpists are blaming Biden's economy for it... I'd like to say they're totally brainwashed but can someone with no brain be brainwashed??

Working class people that are still 'loyal' to trump even now would do anything at this point. They'd fall to their knees and worship him if that's what they were told to do. So sad to see this happening to the once greatest nation of the world. I say this as a Non-American. 

[Sepsami 20,971]

7 hours ago, OMF said:

Good. Sorry for all the people in the US who are innocent but you can’t expect Trump to be voted in and dismantling the entire western world, REAL Mayhem, and not face consequences. I hope this makes more republicans realise how bad this clown is.

Promo is promo 

[misha4ever 2,077]

10 hours ago, MACATL said:

Convinced this is sabatage.  

Yep, it's what Putin did and the US nazis wants to recreate that.

[Bronco 25,129]

10 minutes ago, Defmix100 said:

I'm sure I saw people say that on here too though, I'm not american so not sure how it works with terms but I'm pretty sure I saw comments say that Trumps first term economy was due to Obama, Biden's economy was due to Trump, and Trump's 2nd term economy will be due to Biden like a rolling effect

Generally its true that the 1st 2 years of a President's economy are largely due to the prior administration. This is based on the conventional rule that President's don't generally enact sweeping or immediate economic changes in their first 2 years so you only start seeing the impact of their actions from the midterm onwards. 
This is true of Trump's 1st term where a lot of the tax cuts etc he brought in, were off set in ways that deliberately delayed the drawback windows. 

The stockmarket action we are seeing at the moment is largely due to the speed and immediacy of Trump's actions combined with investment bankers and business leaders not accurately predicting how a Trump presidency would run. They bet heavily on the promised tax cuts and deregulation and seem to have underestimated Trump's commitments to the tarrifs. Combined with the tarrif war leading to early signs of consumer confidence falling and spending drying up - a lot of businesses and investment portfolios are doing mass-sell offs to readjust their bets on the market basically. 

[TSUNAMI 21,297]

10 hours ago, Ladle Ghoulash said:

So the entirety of the US deserves to suffer based on the decision of 32% of the electorate? 

I think it's time for US citizens to stop living so comfy, go to the street and impeach this motherfuc*er again. 

[Lucas 31,127]

1 hour ago, Defmix100 said:

I'm sure I saw people say that on here too though, I'm not american so not sure how it works with terms but I'm pretty sure I saw comments say that Trumps first term economy was due to Obama, Biden's economy was due to Trump, and Trump's 2nd term economy will be due to Biden like a rolling effect

Yeah but this market tank is so sudden and comes right after the tariffs were implemented. The dollar also suddenly tanked. This is not Biden's fault, it's 100% the tariffs

[Creyk 18,660]

11 hours ago, MACATL said:

Convinced this is sabatage.  

 

11 hours ago, Lucas said:

I've seen some people on TikTok say that by crashing stocks and creating recession, the ultra rich can buy tons of companies for a fraction of what they're actually worth... Could be a strategy considering we all know that Trump and his government are all billionaires who want even more money

I have a friend who works in finance and he said that same thing Lucas is saying: this is all by design, they are tanking the economy on purpose so people will be forced to sell what they have, and the billionaire class can buy up everything for cheap, thus having even more direct influence.

[RebeldeFaith 5,759]

But his cult followers will still do all sorts of mental gymnastics to excuse this, even when they're loosing their money, jobs and properties because of this. The White House is the new blueprint for circus tents; the show itself is hard to recreate though.

[ode 1,534]

i hope it happens. we need to suffer.

[Just A Holy Fool 2,660]

As a Canadian, we love to see it. Hit the orange Cheeto where it hurts him the most. 

[Monstermilo 5,473]

this is what the freaks in the US voted for

if it gets bad ima move back to toronto lmao

 

[StarstruckIllusion 53,565]

Why cant we get recession pop music without the actual recession 

[Roughhouse Dandy 13,612]

Woooo so much winning

[Economy 52,857]

14 hours ago, Defmix100 said:

I'm sure I saw people say that on here too though, I'm not american so not sure how it works with terms but I'm pretty sure I saw comments say that Trumps first term economy was due to Obama, Biden's economy was due to Trump, and Trump's 2nd term economy will be due to Biden like a rolling effect

I know u were already quoted but to add to it...

 

It is true that policies impact on economic growth and social equity can come with years of lag until full impact can be felt

 

But when you do very radical things such as major government cuts, agressive tax changes or tarrifs, stuff like that can also cause economic swings very quickly.

 

So yeah in some cases stuff can occur in the short term too!