“The president single-handedly wiped out Americans’ retirement savings overnight and subjected businesses to intense whiplash with his increasingly erratic and chaotic policies that continue to drive consumer and business uncertainty.”
All we need now is a massive man made natural disaster to strike to make it another great depression. Luckily there isn’t any terrible climate related issue that’s on the verge of causing a catastrophe or anything.
That, and good thing there isn’t a new pandemic brewing in birds and livestock.
Thank god 80% of the bees we use to pollinate all our food didn’t die this last month…
At least we don’t have a measles outbreak and an anti-vaxxer in charge
We should consider ourselves lucky there isn’t a genocide happening in the middle east with US backing.
The Kennedy’s made their fortune shorting the US economy during the Great depression.
Everything Trump has done has been calculated. I’d be willing to bet my left testicle that his gambling most of his fortune on heavily leverages shorts. He’s trying to create the greatest possible depression because that will make him the most amount of money.
He knows exactly when he will cut his bullshit so he will settle his short right before making the announcement. Then with all the money he essentially stole from the population he will then buy up large chunks of the economy (and so will his buddies).
Once capital is even more heavily controlled by the upper classes the only recourse left will be violent revolution. All speculation. But that’s what I would be doing if I was trump trying to install a true autocracy.
The Federal Reserve now projects -3.7% GDP growth in Q1 2025. The 2008 recession was -2.6%, and covid was -2.2, for comparison.
Consider this too…Q1 ended on March 31st. They are predicting that drop before all this tariff shit got started.
Hell, Biden was president for 20 of the 90 days in that quarter.
So you’re saying it’s Bidens fault! /s
That… Doesn’t seem good if I’m being totally honest
-3.7% so far.
Lol, if it’s gonna happen, can it really get underway in the next 3 weeks?
The Australian Labor party could ride its credentials from the previous recession, which we basically came out of unscathed, into another term of government. Anything to avoid the Libs (the conservatives, confusingly for everyone else outside Australia).
Might be a bit of a stretch though, since we won’t be able to sell as much raw materials to China as we did back then.
Anything to keep the Libs out of power, pls.
It’s crazy that people thought Trump’s plans were a good idea. Or that they still do, even now.
They predict -3.7% if yesterday was somehow the end of it, but we know it’s not.
-3.7% would be a dream compared to what’s actually likely.
Q1 runs from 1/1 - 3/31. Q2 will be worse if he doesn’t repeal the tariffs.
Do you have a source? Closest of what I can find is GDPNow https://www.atlantafed.org/cqer/research/gdpnow . But it is neither an official estimate nor from the federal reserve.
That is the federal reserve. It’s composed of 12 district banks and that’s one of them.
I thought federal reserve refers to the federal reserve board. And I am also surprised that the fedral reserve banks’ website don’t get .gov domains.
Not trying to argue with you, the name “federal reserve” is inheritly ambiguous. I am just stating my reason for my original post.
And I am also surprised that the fedral reserve banks’ website don’t get .gov domains.
The fed is explicitly not a government agency. It is meant to be independent by design.
Even if Trump removes every tariff a recession is almost certainly coming. Short to longer term planning, hiring, building, etc will certainly slow down and that kind of things is widespread. People lose jobs, people don’t get hired, people choose not to start a business or invest money in the USA, etc.
The MAGA Nazis are fully embracing AI, and full automation is on its way. All the tech exists right now to fully automate every fast food outlet in America. The could have the supplies stored in robotic warehouses, robotically loaded into self-driving trucks, unloaded into the restaurants robotically, prepared robotically, and delivered to the customer, who ordered it on an app or kiosk. All without a single human touching it anywhere along the way.
Corporations will become wildly profitable with greatly reduced cost of labor and related labor issues (HR, benefits, discrimination, etc), but the additional result will be the loss of millions of entry level and unskilled jobs. These are the jobs where young people learn how to exist in the workplace, where households can have a second income, where people can become managers and make decent livings, etc. And that is only one industry. Every single industry will be impacted by automation and AI, with an enormous net loss of jobs, leading to a permanent unemployment rate in the double digits, possibly as high as 30-40%, or even higher. The impact on the government and our economy of the loss of income tax revenue from those lost jobs is a whole other conversation altogether.
What will happen to all those unemployed people? There seems to be only two solutions: Universal Basic Income, or reducing the population by the permanent unemployment rate. It’s pretty predictable which solution each party would choose, and also pretty predictable how they would choose to accomplish their solution.
China is likely to get AI before the US does. Innovation here is slowing down.
Not to forget the ability to let middle management go when there are no workers to be managed as well as the people for low level optimization and planning.
This is a major thing and the reactions are unfortunately downvotes.
How was Thursday and Friday not a recession? I lost > 10% of my 401k in 2 days.
It took 4 years to get to where it was since I stopped contributing right after the 2020 panic. 4 years of happily let my money do what it should, BAM wiped out in 2 fucking days.
I’ve Lost 15% since this shitshow of president started fucking with things.
Get your 401k out of stocks for now. Most plans have money market or other options you can exchange for.
Panic drop out of the market after stocks went down some percent, great advice.
Just do nothing and keep your rates (or however US 401k works).
Time in the market beats timing the market
I guess. Other option is to ride it all the way down. I got mostly out after the election. I got the rest of the way out this year.
That’s the dumbest advice ever! That’s how you lose all your money. Recession is the perfect time to buy even more stocks and shares. Don’t get out, get in!
Recession is a good time - at the bottom.
We’re still at the top.
You guys have fun losing all your money, though. Like the person I replied to complained about.
The only one losing money is you.
…how?
Selling near the top and buying near the bottom…?
You’re doing the exact opposite.
Howso?
Trump is gonna try his best to make the best depression ever.
He heard “great depression” and took it as a challenge
Yuge Depression. Like sinkhole levels.
It’s 100% they are just too scared to say that
You can’t say anything is 100% with a chaotic and erratic president. There’s always a chance that Trump will undo everything next week and things will stabilise for a short while. That chance might be very low, but it effectively invalidates 100% prediction.
God this is bleak.
I’m not even in the US. This is a global recession.
“[Consumers] are not even going to the grocery store and paying more for vegetables because there’s none available from Mexico, or going to Whole Foods, for example, and finding the big sections of fresh fruit are being shut down. They haven’t really felt the full impact [yet], and they’re already saying something isn’t right,” Bethune says.
It sounds like shit is going to get real, really quick. As in next week?
Trump isn’t going to back down either - good or bad he always just doubles down. If Mexican producers stop selling to the US he’s just going to go to war right?
As an aside, I had been wondering what the US gov is going to do with all that tariff revenue… but now it seems kinda clear that consumers will be buying a lot less stuff, so there will be less income tax revenue anyway.
Maybe that’s the plan? Start a trade war that will inevitably lead to a real war? It sets a lot more precedent for the lean on all of the marshal law type powers he’s chasing after.
The U.S. does make a lot of money at war. Kinda makes you wonder why few of Leon’s federal spending cuts have been in the DOD? 🤔
They don’t make as much money when they are fighting a war. Especially on American soil.
When we are almost all living in shacks with nothing left MAGA will be telling us we are better off.
“I’m so glad things are going back to the way they should be!” -my hyper-republican boomer coworker, this afternoon
The people are just garbage. The worst kind of ignorant shit that plagues this country.
You gotta remember this was DECADES of conditioning. These people have been primed for this from birth. For this moment in time, when they could gleefully collapse anything positive remaining about being American.
Don’t make excuses for idiocy. Many of us grew up in those same places with the same ideas you’re talking about constantly thrown at us and we could see this for what it was long before now. Those people don’t see it because they don’t want to and that’s not anyone’s fault but theirs.
Sure, but there is also the true history of coordinated effort. A lot of people had a lot to gain by making sure a particular generation got brainwashed, and the rest of us are feeling the effects - if you think you’re immune to propaganda, then it’s already too late.
Lots and lots of brainwashing happening in other generations, too. At this point the “boomers” are not the biggest problem.
Boomers and decendants thereof.
Not long until MAGAs call the stock market woke.
Alternate TRUTH market incoming
They already had indexes which avoided ‘dei’ companies… Don’t ask me how I know…
60% chance of recession, 40% chance of a depression. “The Greatest Depression”
Tremendous, really. Like nothing ever seen before.
A golden age is coming!
Even if things just to recover to where they started trumsk will claim it as a giant win.
Frustratingly true
The blood is on gop hands and any billionaires backing him
I’d love to see donvict, fElon, Lutnick, Thiel, Vance and especially Navarro forced to live in poverty for a while.
Blood for the blood God.
No one cares about rich people losing money. If they were smart, they would have sold their stocks when Krasnov was sworn in.
He was already talking about fucking shit up with tariffs while campaigning.
Smart people don’t sell stocks and shares when markets crash. They buy instead.
So much fud out there apparently. Time will tell how bad this gets, but this is pretty darn bad.
The Kennedy’s made their fortune shorting the US economy during the Great depression.
Everything Trump has done has been calculated. I’d be willing to bet my left testicle that his gambling most of his fortune on heavily leverages shorts. He’s trying to create the greatest possible depression because that will make him the most amount of money.
He knows exactly when he will cut his bullshit so he will settle his short right before making the announcement. Then with all the money he essentially stole from the population he will then buy up large chunks of the economy (and so will his buddies).
Once capital is even more heavily controlled by the upper classes the only recourse left will be violent revolution. All speculation. But that’s what I would be doing if I was trump trying to install a true autocracy.
I agree with everything you’re saying, except that someone higher up is telling Krasnov what to do and pulling the strings. He’s not smart enough to come up with this himself. Republicans do this every time they’re in office.
If this is what it takes for republicans to never hold even so much as a broken toilet seat, well it sure does suck harder’n a black fucking hole… but it seems this is how we have to learn.
Y’all vote in a republican whenever you’re ready to crash the economy and lose your property to the profiteers buying it for pennies. It’s really something, how it’s like clockwork.
By “y’all”, are you referring to every person that voted this election, or only those that didn’t vote Harris? Y’all seem to be of the impression that Americans is a monolith, and y’all ought to know better than that. 
They’re talking about how the country voted in Trump. Again.
Most people share some responsibility for it. Some more than others of course.
If they somehow blame Biden for this or OBAMA, we need reconsider human evolution.
Trump has already blamed Biden for the “shitty economy” he inherited.
