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Plus the markets don't like uncertainty and Trump is crazy as a ****house rat. Investors are thinking now's the time to take some money off the table. No one ever went broke taking a profit. Myself I'm moving money out of stocks into bonds.
I think this is huge. No one knows what direction the WH is going, with sanctions, military bases, tariffs, upside down world where dictators are our friends, our allies are our enemies, and where POTUS tweets conflict with the messages of top WH officials.
I think in large part, this is why large corporations are sitting on their cash and not expanding.
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Just checked some of my major accounts- down 1% for the YTD. Not exactly the YUGE gains that Trump and his followers are telling me about. That's in an account that is conservative and incredibly diversified. It has a lot of money in it also - enough that it should throw off a full income for us.
Instead we are losing money.
Thanks Trump and Trump Supporters! Your "moral equivalency" is ruining us all. But it will all be worthwhile if we build a couple miles of the Wall with OUR money, right?
I think this is huge. No one knows what direction the WH is going, with sanctions, military bases, tariffs, upside down world where dictators are our friends, our allies are our enemies, and where POTUS tweets conflict with the messages of top WH officials.
I think in large part, this is why large corporations are sitting on their cash and not expanding.
I don't know that trump can be blamed for that. I work for a huge international bank who's been making record profits yet shrinking their workforce every year. That's why I was so against the tax cuts - I knew there was zero chance they were gonna help anyone but the 1%. Huge companies are offshoring and automating and the C level execs and major shareholders are the only ones who are happy.
I do believe trump's erratic behavior is hurting the markets in general, though.
I don't know that trump can be blamed for that. I work for a huge international bank who's been making record profits yet shrinking their workforce every year. That's why I was so against the tax cuts - I knew there was zero chance they were gonna help anyone but the 1%. Huge companies are offshoring and automating and the C level execs and major shareholders are the only ones who are happy.
I do believe trump's erratic behavior is hurting the markets in general, though.
And he's becoming more unhinged with every passing day. He's liable to go completely off the deep end very soon.
I think this is huge. No one knows what direction the WH is going, with sanctions, military bases, tariffs, upside down world where dictators are our friends, our allies are our enemies, and where POTUS tweets conflict with the messages of top WH officials.
I think in large part, this is why large corporations are sitting on their cash and not expanding.
I've said it before and it's obvious, but it always can use a repeat.
When you and I and others feel "flush" due to a basically good stock market, we may treat ourselves to a new iphone...maybe even a more expensive one than we need. We may buy a boat if that is our thing, because - after all - we made tens of thousands of dollars "extra" this year. We might even buy a 2nd home.
We might give money to our adult children - MUCH more than any tax cut.
But we don't in times like these. The reverberation comes quickly and it's hard to measure until many months later. I suspect corporations are seeing it internally as their systems update (and compare) sales on an hourly or daily basis. So they don't get surprised at the end of a quarter...they see trends.
This downturn is happening at exactly the wrong time. A large percentage of consumer profits for the year are made in the next 6-8 weeks. But people will tighten up their spending when they see the headlines or look at their statements.
I don't know that trump can be blamed for that. I work for a huge international bank who's been making record profits yet shrinking their workforce every year. That's why I was so against the tax cuts - I knew there was zero chance they were gonna help anyone but the 1%. Huge companies are offshoring and automating and the C level execs and major shareholders are the only ones who are happy.
I do believe trump's erratic behavior is hurting the markets in general, though.
It makes one wonder where the market might be if we had a competent President.
He's giving so much $$ to the military versus the forestry service that we've had the most devistating fires in history. The cost is un-presidented. Not to mention the most deaths from a fire, ever.
The market would be about exactly the same as it is today, unless you seriously think Trump has done anything of value? He hasn't. Even his pay-day loan style tax scam, while good for fluffing the market, will have long-term negative effects.
Ah, the far right. They'd rather have a raging lunatic like Trump in office than somebody sane who might be slightly left of center. Laughable.
Exactly. All he's done is charge the taxpayers. The bill for Melania's 2 nights at a hotel recently came to $274K
It makes one wonder where the market might be if we had a competent President.
A competent President would have appreciated the healthy growing world economy and not stepped in to challenge it in so many unnecessary ways, on so many levels, with so many other countries, friends and foes alike, from our neighbors north and south to the Middle East. Unsettling the calming economic waters that tends to serve our economy and others the best. Uncertainty is to be avoided if businesses are going to be allowed to do their thing. Would have also recognized our economy was doing well too, an upward trajectory, that simply required more steady stewardship, not tax cuts for those already doing handsomely at the expense of our future and our children's future. Then too if we had a competent President, the world wouldn't be wondering how America could choose someone incompetent to become President regardless how that incompetence will play out.
All that said, I continue to hope our $20 trillion per year economy is bigger than even Trump and his misguided direction, that corrections like this happen even with better leadership in the mix, needed, to keep the train on the tracks over the long haul. "Profit takers" after all, need to take their profits when it seems the time is right, and the lower the market goes, the higher their profits will be when the next time is right. They are the true "movers and shakers" when it comes to our economy, along with all the other people in the private sector in positions of significant power to steer our economy one way or the other.
Because this is in the political forum and not Finance, I have to ask:
Do you think the tariffs have affected the economy?
Yes, everything has SOME level of impact on the econmy, how significant though, who really knows. And how does one measure the long term vs. the short term of any of those impacts?
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