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.”

 

[Bonfire]

It really is unfathomable that he would purposely crash the stock market supposedly to pressure the Fed to lower interest rates. Extremely reckless and stupid. I can’t bear to look at our retirement funds and 401k.

 

[LilAlex]

Sure glad that I'm not in the market.

How can you be in the US and not be in the stock market?!

We try to stay 65:35 and the last two days dipped us to 62:38 (!) so my pre-determined investment policy statement (pre-determined by me) says that I must "re-balance" and swap 3% of our net worth out of bonds and into stock. I think I'll have plenty of time to do this -- I doubt it's gonna pop right back up like with some of his mutterings.

I also have shed some of my "home-country bias" -- a little less confidence in "American Exceptionalism" (and not that I was ever all-in on that). Over the past few months we have upped our international at the expense of domestic equity. Fortunately, how I apportion our stock (US vs. international) is not part of my hard-wired investment policy statement so I am free to self-sabotage there. Same with large cap vs. small cap, etc.

 

[VRBeauty]

I hope there’s some recovery before I need to start taking MRD’s in a few years. Kind of doubt it, though.

My more immediate concern is the effect of tariffs. My garage burned down late last summer and we’ll be rebuilding it this year. I was hoping to upgrade with a few luxury touches - add a much-needed adjacent patio with pergola, and a lift-up glass door, on the garden side, for one of the bays. I’m expecting significant increases in both material and labor costs that might limit my options.

BTW, did you know that we can no longer write off the cost of personal losses due to catastrophes such as fire, theft, or wind damage unless those losses are due to a federally declared disaster event? It’s one of the tax law “improvements” adopted as part of the 2017 “tax cuts and jobs act.”

At least that means less paperwork and record keeping. *sigh*

 

[kenny]

How can you be in the US and not be in the stock market?! ...

I just am.

 

[Avondale]

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.

Quite honestly, it's high time. That’s the whole point of having separation of powers, after all. And right now it's necessary for the legislative and judicial branch to check the executive one.

To add to amateur hour, it’s very possible AI was used to come up with the tariff formula.

I have a meme (or is it?) for you.