There’s a reason for that. Maybe if all those well-off bankers hadn’t thrown in with trump in hopes of deregulation their portfolios would still be slowly climbing up with the DJIA under a democrat instead of flopping around like a fish out of water under trump.
this post was submitted on 11 Apr 2025
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If ya'll want another layer of irony to all this:
George Soros initially rose to general public fame/infamy with large bets against British Pound in 1992, that effectively defeated the Bank of England's attempts to stabilize the currency, resulting in its devaluation, and something like a billion $ profit for Soros.
Fast forward to now, and Trump supporters have spent the last 5 or 10 years acting like Soros is secretly the most underhanded and influential 'world controller' bogey man that exists, and they blame everything they don't like on being funded by him... despite pretty much all of his charities and funds and causes he donates to being publically available knowledge... and despite Soros being a fairly small fish in the modern ocean of much, much more wealthy and infuential corporations and individuals.
... So, now, Trump very well may have done basically the same thing as what Soros did 3 decades ago: force the devaluation of the USD and cause economic mayhem, but... at a much, much larger scale than Soros did.
The Trump supporters have utterly and entirely lost their own plot, that they themselves mostly fabricated.
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Art of the Deal, ladies and gentlemen! You just don’t understand!
Ya think? This is the end of American Hegemony.
All it took was electing one spoiled rich asshole with an inferiority complex.
But he didn’t happen by accident, he’s the result of mind-numbing, stubborn, continuous anti-intellectualism people have reveled in in their idiotic decadence for years now.
Also one of the dumbest motherfuckers, if not the absolute stupidest, to ever sit in government.
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Can't believe the president who has repeatedly floated the idea of defaulting on government debt to save money would provoke this response.
There's a story floating around that Canada's PM, Mark Carney, may have initiated this threat so that Trump would back off on his tariff escalation.
I saw this synopsis a little bit ago and I thought it was a pretty good short description
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Dude is an absolute genius to go this route and the perfect person to be Trump's foil.
If Canada doesn't elect him, they are bigger fools than us Americans. The dude just chilli-whipped us.
"The fear is the U.S. is loosing its standing as the safe heaven" ? Looking at it from the E.U., it's already gone with no going back. The U.S. looks more and more like a self destructing failed state, that only needed a little nudge from foreign troll factories.
It's not really a "freak" event when the causes are blatantly clear and self-inflicted.
I am very annoyed that this use of 'freak' and further corruption of the term 'black swan event' have just gotten completely common place.
A black swan event is supoosed to be something completely impossible to have been predicted before hand because you didn't have enough knowledge to even understand there was a kind of risk you were not accounting for.
An 'unknown unknown', to use the only useful idea Donald Rumsfeld ever came up with.
... This bond sell off is utterly predictable, unless you are completely brainwashed into a delusional level of normalcy bias and complacency.
All you have to do is realize the US is acting like an unstable dictatorship... which it very obviously is... and this is an easily predictable outcome for anyone with a decent knowledge of macroecon theory/history.
Just because we have chiselled abs and stunning features, it doesn't mean that we too can't not die in a freak gasoline fight accident.
This is arguably bigger news than the stock market.
Preventing this was originally what people thought was causing him to pause
I sold some bonds 3 days ago. I just don't trust this administration won't default on something in the next 6 months. Or do something else to drop out AAA rating.
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Waaaay biger news
Can't fund that big bad military when all those dollars go to pay off those bonds.
It definitely is. If bonds don't sell, or at least no longer sell cheap, then the US might get bigger problems with their budget.
If US Bonds are no longer the de facto safe haven asset...
The USD is no longer the world's de facto reserve currency.
That means that even if all the tariffs were rescinded, Trump croaked and somehow JD Vance took a 'be at least somewhat more competent and less stupid' pill, and never reinstated them...
Well it would mean the dollar would crash against other currencies, we wouldn't be able to import anywhere near as much, and US international debt payments as a percentage of the yearly budget would climb fast.
... And then that could spiral into both massive austerity at home, and/or 'lol we are defaulting on our international debt' either by formal declaration, or... basically hyperinflation.
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republicunts plans to finance rich people tax cuts with additional debt in shambles
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Oh come on, "Freak" sell off makes it sound like there's some mystery as to what caused this when it's blindingly obvious what the problem is here. The markets, and far more importantly all decent and rational people throughout the world, won't and shouldn't have any confidence in anything as long as Donald Trump is president. The only thing that starts to fix this mess is his resignation or impeachment (and that is only a start, investigations criminal charges and sentences amendments to laws etc. all need to happen too).
The only thing that starts to fix this mess is his resignation or impeachment (and that is only a start, investigations criminal charges and sentences amendments to laws etc. all need to happen too).
Or removal by other means.
Not happening, so I’d plan accordingly.
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How's the market for booze, bullets, and bread going?
Don't know about booze, bullets and bread, but there does seem to be alot of folks taking up smoking again. Altria stock has shot up like a rocket over the last 12 months.
Huh. I don't know anything about Altria. Wonder if they're capitalizing on nicotine packets and vapes.
They are, among every thing else tobacco related.
They are, to the tobacco industry, what TTI is to power tools. Among the companies they own are Philip Morris (Cigarettes, Cigars and pipe tobacco), US Smokeless (dip, snuff and whatnot), and NJOY (vaping).
I guess I picked a bad time to stop huffing glue.