this post was submitted on 03 Apr 2025
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[–] einlander@lemmy.world 161 points 1 day ago (8 children)

Time for the rich to buy stocks on discount.

[–] Sibshops@lemm.ee 70 points 1 day ago (1 children)

Assuming the US can recover...

[–] danc4498@lemmy.world 15 points 1 day ago

If it doesn’t, the rich will still be fine. Unlike most Americans, they can diversify outside of the US.

[–] andyquest@sh.itjust.works 26 points 1 day ago (3 children)

Idk, when do they buy? This shit has to go way more south before our dear great leader decides to undo the tariffs, right? And if he doesn't undo them, when would it go back up? We're still in a race to the bottom...

[–] Boddhisatva@lemmy.world 16 points 1 day ago (4 children)

Knowing Trump's irrationality, he just wants to erase all the market gains from when Biden was in office. That means he'll keep at it until the DOW looses another 10,000 points or so.

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[–] SocialMediaRefugee@lemmy.world 118 points 23 hours ago (6 children)

He inherited a growing economy, a healthy stock market and low unemployment. He has undone all 3. Power move!

[–] D_C@lemm.ee 19 points 21 hours ago* (last edited 21 hours ago) (1 children)

Be fair, it did take a long time to undo all that...
He's been back in office an astonishing two months. That's a lifetime!!

[–] kerrigan778@lemmy.world 8 points 21 hours ago

Don't give me hope

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[–] corsicanguppy@lemmy.ca 113 points 1 day ago (1 children)
[–] teawrecks@sopuli.xyz 88 points 1 day ago (4 children)

This is apparently a fake tweet. An archive of the actual tweet corresponding to that datetime is here.

[–] NotSteve_@lemmy.ca 14 points 1 day ago (1 children)

Looking at that archived Tweet, I forgot what it was like for Twitter responses to not be unhinged

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[–] SocialMediaRefugee@lemmy.world 9 points 23 hours ago

He says enough horrible stuff to not have to fake any of it

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[–] pleasegoaway@lemm.ee 99 points 1 day ago (3 children)

The trump regime was designed to TANK the US economy so that stocks, businesses, and industries can be bought by billionaires at rock bottom prices.

All is going according to plan.

[–] SocialMediaRefugee@lemmy.world 14 points 23 hours ago* (last edited 23 hours ago) (1 children)

Even the wealthy have to think about what is happening right now. To have their company's value go to shit overnight isn't winning him any fans.

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[–] exemplariasuntomni@lemmings.world 13 points 23 hours ago (1 children)

A lot of people might decide to violently resist such an eventuality. Things can quickly go off the rails.

Remember that despite the rule of law no longer applying to the rich and powerful, the laws of physics continue to apply.

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[–] te_abstract_art@lemmy.world 53 points 1 day ago (1 children)
[–] blakenong@lemmings.world 20 points 1 day ago (6 children)

I mean, it’s only fuck if you’re in the stock market.

[–] peregrin5@lemm.ee 82 points 1 day ago (4 children)

I mean, anyone with a 401K is in the stock market.

[–] blakenong@lemmings.world 15 points 1 day ago (21 children)

Which is why 401k is a scam.

[–] peregrin5@lemm.ee 60 points 1 day ago* (last edited 1 day ago) (1 children)

It's still basically most people's only hope for retirement. And represents a large portion of the compensation they are literally working for day after day.

[–] ironhydroxide@sh.itjust.works 30 points 1 day ago

Especially with the history of constant cuts, and current gutting of, social security.

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[–] Naevermix@lemmy.world 44 points 8 hours ago (3 children)
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[–] jordanlund@lemmy.world 39 points 1 day ago

Down 3,163.27 since inauguration.

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[–] The_Caretaker@lemm.ee 34 points 6 hours ago (1 children)

Do you think Trump, Musk and their oligarch insider friends maybe, just maybe, opened short positions on a bunch of stock ahead of the new tariff announcement?

[–] MystikIncarnate@lemmy.ca 11 points 5 hours ago (2 children)

This is my thought exactly.

I watched Steven Colbert yesterday saying that this large of a fuck up is proof there is no deep state. While I get his point, I disagree. If there is someone in the shadows pulling strings this was the intended outcome.

It's pretty well known that in trading markets, there's almost always something that goes up when everything else drops like a rock. Even as such, moving money to be liquid right before a steep drop off, then buying up all the formerly high-value stocks at bargain basement pricing, and just waiting for the rebound, is a legit strategy. Having foreknowledge of such an action is considered insider trading however. Realistically, insider trading is difficult to prove unless the perpetrator is an idiot.

Whether you call it the deep state or the 1% or oligarchs, or simply "rich assholes", if you believe there is a group orchestrating things, then you beat believe this was the intended outcome.

[–] The_Caretaker@lemm.ee 9 points 5 hours ago (2 children)

Nothing needs to go up. Shorting stocks lets you make money off of them when they go down. If a person or group of people can cause a crash and know in advance what day it's happening, they can borrow stocks and then buy the stock to repay the loan at a lower price and pocket the change.

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[–] SocialMediaRefugee@lemmy.world 33 points 23 hours ago (5 children)

His MAGA fans likely don't have anything in the market, or they don't think they do, so they think this won't affect them. They are in for a rude awakening.

[–] auraithx@lemmy.dbzer0.com 14 points 22 hours ago

No they are all over invested in the market. The techbros. The effective altruists. The boomers and anyone wealthy. They voted for Trump to pump their bags and dont care about anything else. Only the dirt poor maga aren’t baws deep.

[–] CharlesDarwin@lemmy.world 9 points 18 hours ago

Yep. The market is a lot like politics that way.

You might not take an interest in markets, but markets take an interest in YOU.

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[–] cronenthal@discuss.tchncs.de 33 points 1 day ago (4 children)

Old stock trader wisdom: don't catch a falling knife.

You don't know how low things can go. We're merely 100 days into the Trump presidency.

[–] Joeffect@lemmy.world 22 points 1 day ago (1 children)

It's not even 100 days... 73 days since Jan 20th

[–] cronenthal@discuss.tchncs.de 38 points 1 day ago* (last edited 1 day ago)
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[–] brygphilomena@lemmy.dbzer0.com 32 points 20 hours ago (8 children)

My 401k today is $520 less than what it was Jan 21st. I put in almost $600 every 2 weeks.

That's a good chunk of change that just disappeared. I can only imagine how much someone with a bigger retirement account than I have is hurting.

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[–] rockettaco37@lemmy.world 29 points 21 hours ago (3 children)

And yet people still felt the need to vote for him

I'll never understand this country....

[–] cocomutative_diagram@infosec.pub 14 points 18 hours ago* (last edited 11 hours ago) (1 children)

And people still thinks he is playing some sort of 4D chess. My friend in Georgia mentioned that people around her says Trump is creating a dip, so that federal reserve will lower interest rate.

Yes, because president can fire tons fedral workers, can send secret police to abduct people, but cannot control the federal reserve, and have to play stagnation or bust.

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[–] tiredofsametab@fedia.io 20 points 18 hours ago (10 children)

I was considering trying to cash out my 401k and ira in the US (I bought my first house and I think that's one of the allowed cases), but hadn't worked out the details yet. Guess that's not happening right now. I no longer live in the US and will probably renounce citizenship once my parents go.

I looked at my other investments this morning based on this post and.... Lol. Granted, I only one a handful, but it still hurts. My stock that was worth only like 40 cents moved up 5+% so yay for that, I guess.

[–] InverseParallax@lemmy.world 9 points 17 hours ago (1 children)

Got my family out last year, I commute back and forth.

There is something really sick about watching this from overseas, like watching paramedics carry bodies out of a car crash.

But it was no fun when I was there.

Fucking morons shooting themselves in the balls to look tough.

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[–] billiam0202@lemmy.world 20 points 1 day ago (1 children)
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[–] wanderwisley@lemm.ee 15 points 21 hours ago

They voted for this. We all have to be onboard for the crash.

[–] Skua@kbin.earth 12 points 1 day ago

*Trading partner tariff rate is calculated by the White House to include "currency manipulation and trade barriers."

This needs to be way fucking bigger than a tiny light grey caption under the image, AP. "Trading partner tariff rate is pulled directly out of the administration's collective rear end"

[–] TheDemonBuer@lemmy.world 9 points 1 day ago (2 children)

This is what Trump wants. He wants the market to drop and/or a recession. Why? To force the Fed to drop rates back to essentially zero. Once that happens, expect a blistering turnaround in the market. Everyone and their great aunt will be borrowing money at ultra low interest to buy stocks. The stock market will explode, maybe crypto, too. Inflation will skyrocket. It will be nuts.

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[–] CaptDust@sh.itjust.works 9 points 1 day ago* (last edited 1 day ago) (2 children)

US fire sale!! 🔥 every stock must go! 🔥 15-25% off priced to sell! 🔥 hurry, these deals won't last!* 🔥

*profits not guaranteed. in the event of mass economic collapse, cross your fingers for a bail out. This is not financial advice.

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[–] oxysis@lemm.ee 9 points 1 day ago (2 children)
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[–] funkforager@sh.itjust.works 8 points 5 hours ago

Screen of the WSJ on mobile. For posterity.

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