The stock market just crashed by 2 trillion! This is the Republican Recession folks!
How the fuck do you make the dow jones go down by over a thousand in just one day?
nevermind this (i have been informed that it is fake. Apologies for spreading misinformation):
As always, the only way to win a trade war is to not be in one.
Everybody always tries to come up with a logical explanation instead of accepting the hard truth: Trump really believes the nonsense he is spewing and is too dumb to understand his folly.
And I think he doesn't care. Too dumb and too busy self-aggrandizing.
We're paying attention! That might be all that matters to him
Q: Which country does NOT appear on the tariff list?
Krasnov knows where his loyalties lie.
What is the first column with percentages?
Deep Maths!
The method used to calculate the most important numbers in international trade, politics and economics has left some of the world’s leading experts shocked.
For each country, the White House looked up its trade in goods deficit for 2024, then divided that by the total value of imports. Trump, to be “kind”, said he would, however, offer a discount, so halved that figure. The calculation was even distilled into a formula.
For example, take the figures for China:
Goods trade deficit: $291.9bn
Total goods imports: $438.9bn
Those figures divided = 0.67, or 67%
And halved = 34%
Is it the ruzzian nazi assholes?
Literally trying to crash the economy so that his rich buddies can buy everything for what they like to call ‘penis on the dollar’ iirc I don’t know what that is though, I’m just a peasant farmer 🧑🌾
Intentionally driving us off a cliff…
Everything he can to funnel all the money to the ultra rich
I don't think this makes sense. The ultra rich own multinational corporations whose operations will be inhibited by tariffs and trade wars. They're in favor of free trade because it lets them extract the maximum amount of wealth from the largest number of people. I think he genuinely doesn't understand how international trade works and thinks the US loses money, and therefore power, when people/corporations buy international products.
... a fool of himself, the one trick he has perfected during his lifetime
Very confusing! Is this a good thing or not?
Lemmy always tells me that billionairs get rich by stealing from the poor.
As the rich got a lot poorer today, did the poor now get richer? Hooray for trump for reducing wealth inequality?
Tariffs are passed to the consumer so the rich can stay rich.
If that's true, we can expect businesses to not be affected, and stock prices to remain stable
Price hikes is NOT good for business. People are going to be angry.
If it's not good for business, then that's not good for the stockowners. Which is mostly the rich.
If the rich loose money, then the poor get richer?
If gas tanks were money, and you are worth $100K, let's say your car has a 20 gallon gas tank, a billionaire would have a 200,000 gallon gas tank. Think of these terrifs as something that harms "gas mileage". The guy with a 200,000 gallon tank may care, but realistically poor gas mileage is never going to effect their quality of life like it will us regular folks.
Money is very rarely transferred from the rich to the poor. When the rich lose money it's going to other rich people or corporations.
The price of groceries goes up, but the price of luxury goods is relatively unaffected. So, for example, the price of a yacht will go up by how much more it costs to fill it's fridge...
When the market is up, the rich reap the benefits. When the market is down, the poor pay the price.
It's possible for the rich and poor to both suffer. Of course, when the rich "suffer" that mostly means they can't have all the new things they want and have to settle for the excess they already have. When the poor suffer, they're devastated and unable to live a decent life.
(Yes, the rich get richer by stealing from the poor. A worker at Amazon causes $N to be paid to the company from her efforts, but Amazon will pay her less than $N so they can make money. The difference goes to the rich, whose only contribution was having their name on the paperwork. Billions and billions of dollars flowing toward people who are doing, at best, hundreds of thousands of dollars' worth of actual work themselves. There aren't enough hours in the day to earn the money these people are raking in. It should be going to the people actually doing the work.)
It's worse than that even, it's not that they can't have all the new things they wants etc. they still get all that, their only "suffering" is that their magic high score number goes up at a slower rate, or goes down a little. They (billionaires) see no effective impact of any of this.
General Discussion
