Economy Update April 6th (Futures down 4% - Nasdaq projected to open down 25% from February highs)

[Mr Holmes]

I bought $Drip after selling all my oil stocks. $Drip in layman terms shorts oil. I will ride those until oil prices go back up, sell and buy oil stocks again, except now I will be able to buy more oil stocks than I sold because lower price plus I made a ton of money on $Drip. More oil stocks equals more dividends.
I bought $UVXY at 18.02 and posted it here. Some MAGA-dogger made fun of me for doing it. Currently sitting at $41.45 and rising after market. I sold about 35% of my portfolio after seeing Warren Buffet go into cash and rolled that into $UVXY.
I got $TSLA puts that are due after earnings which are now making money.
Long story short smart people who did not fail at running 2 casino’s knew putting Tariffs on the world was dumb. I just followed their lead and can now retire at least 5 years early. It was a big play and it worked out bigly.

Too much risk for me, but good luck.

 

[Rob Battisti]

@44nutman if I hadn’t been so busy I would have our puts in EVERYTHING like I did with Covid

 

[BlankaPresident]

Look what the US has lost.

It's not coming back, tariffs or not.

For US large scale manufacture to be competitive with Asia, your workers would be paid less than at McDonalds.

 

[djacobox372]

It's not coming back, tariffs or not.

For US large scale manufacture to be competitive with Asia, your workers would be paid less than at McDonalds.

The reality is that the US manufactures nearly as much now than it did 40 years ago, but it doesn't take as many workers. US workers are expensive, so it pays to automate.

 

[mkess101]

Itt Americans have no idea how fucked they are..

People seem to think they can just wait this out and it will blow over. It won’t.

You have become an isolationist country and decided to stop being a global player for whatever reason. Congress seems to be totally useless since they can’t stop him.

I’ve never seen a country destroy themselves for no reason

Yes and no. Will there be lasting effects? Yes, for sure. Will term limits and the blowback mean a likely drastic correction in how the U.S. deals with the rest of the world going forward? Probably.

Won't be fixed quickly, will take time to gain back credibility. But I think it happens.

 

[ermac88]

Yes and no. Will there be lasting effects? Yes, for sure. Will term limits and the blowback mean a likely drastic correction in how the U.S. deals with the rest of the world going forward? Probably.

Won't be fixed quickly, will take time to gain back credibility. But I think it happens.

Lets all hope it does.

I dont see how this current course spells anything but total disaster for Americans and people in North America

 

[mkess101]

Lets all hope it does.

I dont see how this current course spells anything but total disaster for Americans and people in North America

Oh it's likely gonna set us back. A lot. I'm not trying to downplay it. I just don't think it's permanent.

 

[Anung Un Rama]

 

[tastaylvr]

Yes and no. Will there be lasting effects? Yes, for sure. Will term limits and the blowback mean a likely drastic correction in how the U.S. deals with the rest of the world going forward? Probably.

Won't be fixed quickly, will take time to gain back credibility. But I think it happens.

Oh it's likely gonna set us back. A lot. I'm not trying to downplay it. I just don't think it's permanent.

Nothing is permanent but if it takes 30 years for the market to correct itself then it’s as good as over tbh

 

[mkess101]

Nothing is permanent but if it takes 30 years for the market to correct itself then it’s as good as over tbh

I think it's more like 8-10 overall but that's absolutely a guess and nothing more.

 

[Rob Battisti]

Nothing is permanent but if it takes 30 years for the market to correct itself then it’s as good as over tbh

lol hopefully no one is taking you seriously

 

[Rob Battisti]

I think it's more like 8-10 overall but that's absolutely a guess and nothing more.

That’s way too much. An actual crisis in 2008 took less than that.

 

[Mr Holmes]

The “Oracle of Omaha” shared another snippet of his wisdom in his latest annual letter to Berkshire Hathaway investors: “Never bet against America.” Berkshire CEO Warren Buffett, 90, called the U.S. an unrivaled “incubator for unleashing human potential.”

 

[deviake]

 

[Brampton_Boy]

Futures down 4% already. Looks like another bloodbath tomorrow.

Glad I didn't try and scale in.

 

[Rob Battisti]

Futures down 4% already. Looks like another bloodbath tomorrow.

Glad I didn't try and scale in.

Layer in. I’m still sniping

 

[Brampton_Boy]

Layer in. I’m still sniping

Specific sectors/stocks, or you just buying the index (qqq/spy etc)?

 

[Gas121]

Specific sectors/stocks, or you just buying the index (qqq/spy etc)?

Anything not US related. Emerging markets.

 

[mkess101]

That’s way too much. An actual crisis in 2008 took less than that.

IMO the difference is that the downturn on that was more globally organic. Meaning there was less tendency to "blame" a specific nation etc.

With this...every finger is pointed directly at the US. Basically the rest of the world is saying "Everything was okay...and YOU fucked it up."

 

[Seano]

It's not coming back, tariffs or not.

For US large scale manufacture to be competitive with Asia, your workers would be paid less than at McDonalds.

eh, thats false. We still have some industry in the states, just not anything near what we did at our peak and people make decent wages.