The economy suddenly gets scary

Submitted by gjohnsit on Mon, 03/10/2025 - 7:50pm

Screenshot 2025-03-10 105930.png

Today was a bad day on Wall Street.

Tech stocks tumbled by the most since 2022, sending the Nasdaq 100 Index diving nearly 4%. Crypto prices slid. Corporate bond sales were scrapped. Wall Street’s fear gauge and a key measure of credit risk surged. And Treasuries rallied, pulling yields down steeply, as they took on the role as haven of last resort.

It isn't just stocks and bonds. The dollar is sinking too.

Screenshot 2025-03-10 110009.png

Trump and MAGA are blaming Biden, which is ironic since only weeks ago Trump was taking credit for the stocks market.

It doesn't make sense that stocks went up because Trump was going to be president, but going down because Biden is no longer president. Of course facts have never mattered less in America.
Probably 30% of Americans will blame Biden no matter what, while 30% will never believe anything he says.

The reality is that the economy was/is in a massive bubble under Biden. The bubble was eventually going to burst, but Trump's chaos was the bubble's pin.

Tags: 
economy
recession
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Submitted by Pluto's Republic on Mon, 03/10/2025 - 9:52pm
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.
Like the swoop in a fast elevator.

All the random stories fell into place like deja vu.

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Submitted by Snode on Tue, 03/11/2025 - 9:59am

It's always a good day on Wall Street....for the 1%.

If I remember correctly, after Clinton NAFT'd the U.S. and people fretted that we didn't make anything, economists stated that we didn't need to manufacture anything. Finance and stocks were our new industry. So in Casino America all we have to do is add new and fun games to the floor, out with the slots, in with credit default swaps, and now crypto. Oh Joy! Government backed poker chips.

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Submitted by fire with fire on Tue, 03/11/2025 - 12:44pm

The Dow Jones Industrial average lost almost 1,000 points over the last five days to its current ominous level this morning at about 41,000. For perspective, the Dow was at 19,173 as of March 20,2020 at the bottom of the seven-week pre-covid crash that saw a loss of 9,000 points. Once the pandemic shutdowns took effect, the Dow actually rallied over the next four months to gain all that loss back and reach a new all-time high of 35,000 in August, 2020, damned close to doubling during the sharpest decline of economic activity in history.

What a good indicator! It tells you what investors think The Market is going to do.

With the current Dow number at 41,000, it is double what it was when the real-life economic downturn started to put people out of work and having to sleep on the pavement. Looks like investors saw that the markets would be protected by fiat money during the Depression that is so troublesome to mere citizens of this Brave New World.
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1,000 points down, and Trump sucks. So what else is new?

Link: https://mailchi.mp/workersstrikeback/wa-democrats-brutal-budget?e=7c5aca...

That was scary.

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Submitted by humphrey on Tue, 03/11/2025 - 12:28pm

go wrong?

The Kobeissi Letter @KobeissiLetter

WOW.

Canada has threatened to SHUT OFF electricity to part of the US after Trump raised tariffs to 50% on aluminum and steel.

In response, Trump says Canada "will pay a financial price so big that it will be read about in History Books."

Buckle up.

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Submitted by humphrey on Tue, 03/11/2025 - 12:50pm

@humphrey

https://www.cnbc.com/2025/03/10/stock-market-today-live-updates.html

Stocks fell on Tuesday after President Donald Trump placed additional tariffs on Canadian steel and aluminum coming into the U.S., rekindling a market rout that’s put the S&P 500 on the cusp of a correction.

The Dow Jones Industrial Average
lost 700 points, or 1.7%, its fifth decline of more than 400 points in March. The S&P 500 dropped 1.5%, bringing its decline from an all-time high reached in February to 10%. The Nasdaq Composite was trading 1.2% lower, extending further into correction territory. The tech-heavy index, which has seen the brunt of the selling over the last three weeks, is 14% off its high.

The S&P 500 was briefly in the green at one point during the trading session before Trump declared on Truth Social that Canadian steel and aluminum duties would double to 50% from 25%, effective Wednesday. This is the latest in a series of disorderly trade policy moves that have stoked fears of tipping the U.S. economy into a recession.

On Monday, the Nasdaq saw its worst day since September 2022, dropping 4%. The 30-stock Dow lost nearly 900 points. Citigroup this week lowered its rating on U.S. stocks to neutral from overweight, pointing to a “pause in U.S. exceptionalism” as the reason.

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Submitted by The Liberal Moonbat on Wed, 03/12/2025 - 10:33pm
The Liberal Moonbat's picture

@humphrey ...and that actually worked out relatively well!

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In the Land of the Blind, the One-Eyed Man is declared mentally ill for describing colors.

Yes Virginia, there is a Global Banking Conspiracy!

Submitted by gjohnsit on Wed, 03/12/2025 - 12:51pm

gold

Warning that Americans should brace themselves for an economic “period of transition,” President Donald Trump told reporters Monday that a recession would be an unfortunate but necessary step on the way to all-out depression. “Look, what we’re doing is very big and will cause some pain, but that pain is necessary to cause total economic collapse,” Trump said during a press conference, adding that while his decision to implement billions of dollars in tariffs on foreign imports and fire 20,000 federal workers could cause a temporary disturbance, Americans would ultimately emerge much, much worse for it. “Things might be bad for a little while, but we’re okay with that, because we know that in the end these policies will drive markets into a deadly tailspin and push the economy to a point of no return. Trust me. Some hardship now will only make your bank accounts more empty in the long run. If everything goes right, none of you will be able to afford food, housing, or retirement ever again.” At press time, many of Trump’s most vocal defenders stressed that they trusted the president to usher in the greatest depression the nation had ever seen.

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Submitted by The Liberal Moonbat on Wed, 03/12/2025 - 10:31pm
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...and yet, there never seems to be any reliably observable causal relationship between it and anything actually changing.

If only to prove I'm not impossible to satisfy, needless mass-ruination caused by Lockdown would be a good counterexample of a major economic event that DID have directly-observable and lasting effects.

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1 user has voted.
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In the Land of the Blind, the One-Eyed Man is declared mentally ill for describing colors.

Yes Virginia, there is a Global Banking Conspiracy!

Submitted by QMS on Thu, 03/13/2025 - 12:22am
QMS's picture

@The Liberal Moonbat
.
.
they even warned us about licking an envelope
the propaganda penetration was almost complete
fortunately, didn't buy into the vaxx solution
but do see the effects on those who succumbed
(and continue to "be safe") Try Ashwagandha instead..
Ancient Indian remedy for anxiety.

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