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Yeah, you seem to be forgetting the other time, when Trump kept arguing that COVID was no big deal, and that everyone should just get it so we could all get immunity.
Nonononono, that was his LAST term.
He's already clarified that was moot when he fucked with the (art of the) trade deals he negotiated then.
If you are thinking in terms of terms (4 years) or years (1 year) you are daydreaming. Get your head out of your head! Get into the here & now. Grab the here by the now! Week on week? Weak eats weak. Day at a time, hour by hour, minute by minute, second by second, trade by trade
Threaten, bully, strong-arm. That's how you business. That's how you run a casino. That's how you win. The house always wins, so it's time to double down!
We aren't looking at yesteryear or even yesterday. It's not even about the forecasts of tomorrow.
It's about the here and now.
Markets are closed? Don't care.
Markets are shut down due to a selling circuit breaker? Don't care.
Markets are open? Why aren't we buying?
It's all about line goes up. And if it doesn't go up, it's about buying.
You see, winners buy the dip. Everyone should be buying right now. And the US tariffs that. Tariff the buy, so other people pay to make the line go up.
If the US is selling, the US is being swindled. So buy the dip.
(Idk what the fuck this is. Some drunken ramblings. I hope everyone is doing well, even if we are all being fucked over financially)
Idk what the fuck this is.
No problem, I could see some "economist" from the government saying exactly that in an interview.
This is nearly copypasta worthy
I feel like there should be a "fediverse gold" community, that just links to crazy shit like this...
progress is both encouraged and anxious to be celebrated. no one will stand in your way, but it is important to remember the distinction between "we should..." and "it would be fucking awesome if I..."
Agree, but also I CBF if no one else thinks it's a good idea. Which is why I posted this: https://lemmy.world/post/27963154 - I'll see how that pans out for a day or two, and then I might post that as my first suggestion ;)
I'm also aware that this particular community could be a problem as it could lead to brigading or things like that.
All you need to do is package that monologue into a presentable podcast/YouTube video with the right persona and you can sell them as wealth management seminars for sigmas.
I'm going for accuracy.
You could argue trump's response maybe made the markets slightly worse but blaming the covid market crash on American stupidity seems pretty far fetched.
I would argue his actions and response (or lack thereof) severely exacerbated the pandemic and resultant market downturn.
Are there data to support this argument though?
The markets went down early on as everything everywhere shut down, then I don't think had another sustained run of losses? And while trump didn't do great at the response, his ineptitude didn't really shine through until after the initial closures etc.
That's not to say the market is all that matters and I think his lack of response killed many people, it doesn't seem to have moved markets. (Darkly ironic, as most of the deaths were among senior citizens who have a low propensity to spend, you might perversely argue more seniors deaths led to a redistribution of wealth towards those with a higher marginal propensity to spend thus helping the markets. Obviously super immoral/evil but again, in terms of the markets...)
The thing though, is that while the average person suffered, the market actually rebounded pretty quickly from covid.
The common thread is a lack of understanding of system complexity and a lack of foresight/forethought.
And hindsight, I guess, if you consider that the great depression was at least partly triggered by the Smoot-Hawley tariffs.
And that the AI bubble is almost perfectly analogous to the Dot Com bubble. Makes me wonder if any of the early 20th century technology expansions coincided with the 1929 crash..
Radio.
Yeah, could be. Could also be related to the car, or electricity adoption. They were both a little earlier, but things moved slower back then too.. And they were perhaps more directly impactful to many, especially the middle class.
https://medium.com/@kjirstecm/how-fast-does-technology-change-78d4185121a8
But I'm not sure whether those were actually financial bubbles... though I guess they might have inspired some kind of excessive technological optimism regardless. It would be super cool to see a time series of public faith in technology over time..
edit: now that I look at it - are those initial down-turns in electricity and autos (and the telephone) adoption between 1925-1930 indications of a bubble burst? I guess poverty probably drove them, but presumably there were factory ramp-ups before that that resulted in excessive production capacity?
this graph is neat because if i didn't know what any of these are, i would presume Refrigerator is the most powerful and important invention every adopted, reaching ubiquity (>80% adoption) over the period from 1929 to 1945, ending the depression and winning WWII
Now that you mention it, it's pretty wild that it kept climbing throughout WW2, when cars and clothes washers dipped.
Possibly there's some artefacts in the data though, I guess. But yeah, definitely a cool graph with a lot of stories to tell.
Actually it was more cars, they made a huge change to society and people were able to take loans to buy them assuming they'd be able to pay with their jobs.
Ooooh, good answer.
Trump's second term, just a few months into it, has literally been worse for the markets in % drop terms than fucking 9/11.
Economic terrorist is an entirely apt description.
He is a one man weapon of mass destruction.
~~Stupidity~~
Greed. It's greed.
Once is happenstance, twice is coincidence, three times is enemy action. Thinking we’re not going to get that third try.
Twice in 30 years!
Only twice smh? Capitalism is an ongoing crisis that's literally destroying the planet and enslaving all life.