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Recent recessions have shown that the top 1% get richer after the recession. It makes sense when you think about the super rich having the cash to invest is now much cheaper stocks and property while everyone else is struggling to make ends meet.
So I wonder how much the Nazi and the monkey want to avoid a recession. The monkey does not have to worry about reelection and the Nazi is a psychopath.
We should create a WallStreetBets Lemmy community here to discuss our possible trades.
Everyone here mentioning billionaires and missing the point that the Russian agent in charge is just doing his best to deliver any and all assets to Russia. Sanctions getting lifted just as the fire sale on American assets begins right before the civil unrest. If you’re a Russian dictator you could not have planned it better. Republicans are seriously the dumbest mother/sister fuckers on the planet. I can’t even believe how fucking stupid you’d have to be to hold “conservative views”. Like it does not compute how you can be that dumb
Surely mortgage interest rates will follow right? Right? Yeah, right...
That's based on inflation and with the tariffs I've got bad news regarding inflation...
This is intentional. The billionaires are salivating waiting in the wings to buy up as much as possible when the prices are low.
Billionaries just short the stocks and make tons on the way down as well.
Been saying this was part of their plan for a long time. Expropriate money from the government after getting around the ability to track it.
Crash the market.
Buy up big when it's crashed.
"Small price to pay to own the libs!" the faithful cry as they slowly eat their daily ration (one egg and a slice of wonder bread)
Look at Mr Fancy over here eating a whole egg every day.
Economic downturns are WHAT REPUBLICANS DO 👏 crab cakes and football 👏
If you do politics for the rich and powerful only and the wallstreet still goes downhill, you have seriously fucked up
No no, it has to tank so everything is stupid cheap to buy up since the average person will now be too poor to do anything.
I think he's doing this deliberately. Encourage people to sell, so his buddies can scoop up stocks at low prices.
yup, I'd buy apple or microsoft or nvidia because they are going down now but will go up certainly in 1 or 2 days or even weeks/months. Except tesla, this one will go down and down and down for days/weeks/months, tesla stock is super toxic, dump all of it.
I agree and I bought Nvidia. There will be a bounce up soon.
This didned have to happen ...what a damn joke..
trying to look at the positive side, some house market value correction would be nice
The TCJA passed in Trump's first term. It cut the mortgage interest deduction.
Mortgage interest deduction for newly purchased homes (and second homes) was lowered from total loan balances of $1 million under current law to $750,000. Interest from home equity loans (aka second mortgages) is no longer deductible, unless the money is used for home improvements.
The mortgage interest deduction is a tax break for homeowners, and Trump Term 1 saw that get cut. One would expect that cut to generally apply downwards pressure on house prices, since it makes it more-expensive to borrow money to buy a house.
If one assumes that one could use that as a guidepost as to policy during a second term, maybe that'll continue.
kagis
https://doeren.com/viewpoint/president-trumps-proposed-tax-plans
To that end, GOP lawmakers in the U.S. House of Representatives have compiled a 50-page document that identifies potential avenues they may take, as well as how much these tax and other fiscal changes would cost or save.
To help generate savings, the GOP document proposes making changes to various tax breaks, such as:
- The mortgage interest deduction. Suggestions include eliminating the deduction or lowering the current $750,000 limit to $500,000.
Sounds like it. So that could push prices of houses downwards.
I haven't been following the situation there, so this is just a quick skim, mind.
EDIT: I'd also add that some of Trump's policies may have dramatic increases on house prices, depending on what he actually does at any given point in time; he's not really one for providing clear guidance, and even when he does, one can't very well take his statements at face value. Two potentially relevant factors include:
Trade disputes with Canada. The US gets a lot of its lumber from Canada, and North American homes are typically wood-framed. If lumber becomes more expensive, that will drive up the materials cost of construction of new homes.
Illegal immigration. If Trump actually has a significant impact on the illegal immigrant population, it will increase labor costs in construction, as construction makes use of a lot of illegal immigrant labor. That will drive up the labor cost of construction of new homes. My personal take is that most of Trump on immigration is political theater for domestic politics, but it's worth keeping in mind.
So it's hard to judge what factors might dominate.
The biggest influence on housing prices, by far, is the zoning code. Prices are never going to stabilize long term as long as cities keep legally prohibiting supply from meeting demand.
Not if the Fed steps in and bails out Trump with big cuts.
Which honestly could be the point of all this, crash the economy so the fed is forced to cut rates to near zero and all his billionaire buddies can enjoy the fire sale of the republic on the cheap.
Looks like I might have made the right choice keeping my non-401k savings out of a market index fund for now.
I sold all of my stocks a couple weeks back and I'm feeling pretty fucking good about that right now.
Not unless you're retiring soon. You want to buy when things are low.
That's why I said "for now". I was mulling buying in after the election when corporate interests were riding high on a "pro business" President. But I didn't. Now I have that cash free to buy in when we hit the bottom of the slump, if there is a bottom...
I'm SO READY to buy the dip in a year and a half
Recession speed run.
Only if we're on the any%, this is looking like a 100% run so more like 'Depression'
bUt doNaLd is a gREat bUSinESs mAN! /s
The people have spoken! Trump is so much better for the economy! /s
Margin of error +/-52%.
But I thought Trump was going to make the economy great again /s 🤣
He will. But not for us.
He'll issue an executive order establishing that the market can only go up
He disbanded the US government agency that develops the annual GDP numbers. Guess how they'll figure those out next year?
If you guessed "we'll make some up that are higher than last year" then you're spot on.
The numbers will go up. Nobody knew they could go up. It's unheard of.
Signing those with his big-boy Sharpie is about al he knows about actually governing lol
I mean for the longest time it only has gone up... And that's not sustainable
https://www.macrotrends.net/1319/dow-jones-100-year-historical-chart
Perfect time to buy