Hey, how 'bout that stock market?

[kenny]

A reality TV star delivers entertainment.

Sure glad that I'm not in the market.

 

[Calliecake]

It amazing the damage that can done in a couple of days.

 

[ShinyPink]

Fuuuuuuuuuuuuukkkkkkkkk

 

[Matata]

I don't understand how someone can be successful long term using bankruptcies to get and stay rich.

 

[Lookinagain]

I guess I figure I made it through the 2008-2009 recession, so I'm thinking I can make it through the one that is coming. Although I don't want it to last 4 more years......

 

[ItsMainelyYou]

10 trillion gone from the global market. Quick work.

I don't understand how someone can be successful long term using bankruptcies to get and stay rich.

Because they are subsidized by our gov't. Privatize the profit and Socialize the losses.

 

[lala646]

DH is a public employee, and will be retiring within the next 5 years with a pension. I was hoping to be able to retire with him, by or before age 55. Depending on how these next few years go, that may no longer be an option.

 

[Avondale]

I guess I figure I made it through the 2008-2009 recession, so I'm thinking I can make it through the one that is coming. Although I don't want it to last 4 more years......

The danger is in it lasting a lot longer than that.

The current trade war will affect the entire world, undoubtedly. But while the US seems by all accounts to be aiming at isolationism, the rest of the world is likely to keep its open trade policies among themselves. Other countries will bounce back somewhat quickly, but the US, not so much, not if the current course is held. And I don’t even want to start thinking of the consequences if the USD’s position as a global reserve currency is compromised as a result of all this. It would be disastrous for the country.

 

[MissGotRocks]

As several economists have said, most crashes had a reason that would eventually resolve. This was intentionally done and will not resolve quickly or easily. So terribly sad for so many, but isn’t madness always that way?

 

[Lookinagain]

The danger is in it lasting a lot longer than that.

The current trade war will affect the entire world, undoubtedly. But while the US seems by all accounts to be aiming at isolationism, the rest of the world is likely to keep its open trade policies among themselves. Other countries will bounce back somewhat quickly, but the US, not so much, not if the current course is held. And I don’t even want to start thinking of the consequences if the USD’s position as a global reserve currency is compromised as a result of all this. It would be disastrous for the country.

Well, maybe Congress will act to limit his using emergency powers to impose these tariffs. Kind of doubtful that they will go against him, but there is some movement that way.

 

[Mreader]

To add to amateur hour, it’s very possible AI was used to come up with the tariff formula. From an article from Futurism:

“As observers quickly noticed, chatbots like OpenAI's ChatGPT were prone to duplicating that calculation, suggesting that lethargic administration officials might have turned to the tech to devise the plan.

"What would be an easy way to calculate the tariffs that should be imposed on other countries so that the US is on even playing fields when it comes to trade deficit. Set a minimum of ten percent," crypto trader Jordan
"Cobie" Fish asked ChatGPT.
The AI tool happily obliged, coming up with a strikingly similar formulation, dividing the trade deficit by total imports to calculate the tariff rate.”