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

[mkess101]

You're coming off desperate here, I think deep down even you know how stupid this all is even if your ego won't let you admit it.

You've mocked me countless times for being a "faux centrist" or all sorts of other nonsense. And I do agree plenty with @Mr Holmes on a variety of topics

But I've said it before and I'll reiterate now: THIS is a PERFECT illustration of why I cannot stand Trump. His hubris and narcissism is dangerous. It leads to ill thought out things like these pointless tarriffs that are on the verge of tanking the global economy. When you're a true narcissist, you don't need to actually think about repercussions because by definition every choice you make must be correct. It allows sheer lunacy to reign if the one making decisions is so self deluded. Trump supporters digging their heels in here (not saying Mr Holmes specifically because iirc he's not really a huge pro Trump guy) need some serious self reflection. There's gonna be a lot of needless pain from a lot of people (many of them lower middle class people who were getting by, but barely) because of this stupidity.

 

[MMAisGod]

Thats your first mistake. I'm super black pilled on that. Individual stocks is no different than betting on black at a roulette table.

You're actually correct lol. I've deluded myself into thinking I'm an individual stock picking guru because I made some big individual winners like Tesla and AMD before they blew up or Wayfair before the COVID boom rate and selling it right before the bottom fell out, etc etc. But I swear the losses sometimes cancel it all out lol.

 

[Satsui Ryu]

Yeah I would be happy regardless.

Cool. So essentially you are saying if this was Biden you wouldn't criticize him and you would be all good with the way things have played out. I'm satisfied with the response.

 

[Islam Imamate]

I clearly stated how I felt I could take advantage personally and you derped about how I was "owning the libs".

You're the one cheering on a recession but yeah I'm the one "Derping"

 

[mkess101]

Do people really freak out when the market dips like this or is it just performance to show you money in the market? I can't imagine freaking out about money I don't plan on touching for decades.

Depends on your age and exposure I guess. I'm older than most Sherdoggers most likely, and I do have exposure to the markets. So needlessly tanking them like this is irritating. I'm diversified into plenty of other financial vehicles too and have about 80% equity in my $800k house so I'm not "freaking out" and this won't affect my lifestyle at all.

But my own net worth is only one variable. A recession causes a lot of pain. And they are mostly cyclical and hard to avoid. This...doesn't feel like that AT ALL. This feels like someone either purposefully trying to manufacture one, or with too much ego and not enough savvy making horrible decisions.

And I lean more right than left most of the time.

 

[HOLA]

Do people really freak out when the market dips like this or is it just performance to show you money in the market? I can't imagine freaking out about money I don't plan on touching for decades.

Not everyone is the same age as you.

Some people need to dip into their savings at more frequent or unexpected intervals.

duh.

 

[Mr Holmes]

You're actually correct lol. I've deluded myself into thinking I'm an individual stock picking guru because I made some big individual winners like Tesla and AMD before they blew up or Wayfair before the COVID boom rate and selling it right before the bottom fell out, etc etc. But I swear the losses sometimes cancel it all out lol.

Been there. I made a butt load on US airways merger with AA and then again buying the SARs dip. And then I crash and burned on a stock that went bankrupt. Reading Money: Master the Game and The Simple Path to Wealth changed my whole outlook.

 

[Mr Holmes]

Edit: forget it.

 

[MMAisGod]

Been there. I made a butt load on US airways merger with AA and then again buying the SARs dip. And then I crash and burned on a stock that went bankrupt. Reading Money: Master the Game and The Simple Path to Wealth changed my whole outlook.

Gonna add them to the reading list, I'll check at least one out between traveling.

 

[ChosenOne]

Funny that ehhh.

This stock market crash is the biggest since... wait for it... the prior Trump admin crash.

That prior Trump admin crash was the biggest since ... wait for it.... the Bush Jr admin crash.

That prior Bush Jr crash was the biggest since... wait for it... the Reagan black Monday crash.

 

[Dalarna3]

Is normal

 

[Islam Imamate]

You've mocked me countless times for being a "faux centrist" or all sorts of other nonsense. And I do agree plenty with @Mr Holmes on a variety of topics

But I've said it before and I'll reiterate now: THIS is a PERFECT illustration of why I cannot stand Trump. His hubris and narcissism is dangerous. It leads to ill thought out things like these pointless tarriffs that are on the verge of tanking the global economy. When you're a true narcissist, you don't need to actually think about repercussions because by definition every choice you make must be correct. It allows sheer lunacy to reign if the one making decisions is so self deluded.

He ran on this policy of tariffs across the board, none of this should be a surprise. But centrists couldn't help themselves from muddying the waters and acting like the two candidates were equally bad even though one of them ran on the dumbest economic policy platform in roughly a century.

Just feels a bit hollow to criticize the guy after he's done something that anyone who was paying attention saw coming from a mile away.

Trump supporters digging their heels in here (not saying Mr Holmes specifically because iirc he's not really a huge pro Trump guy) need some serious self reflection. There's gonna be a lot of needless pain from a lot of people (many of them lower middle class people who were getting by, but barely) because of this stupidity.

You gotta be kidding me, if Mr Holmes isn't a Trump guy then I'm not Muslim(just finished Ramadan btw).

 

[Islam Imamate]

Edit: forget it.

How pathetic.

 

[ermac88]

Do people really freak out when the market dips like this or is it just performance to show you money in the market? I can't imagine freaking out about money I don't plan on touching for decades.

Yeah man people are freaking out

People have, retirement funds, health care investments, childrens education funds. People have parents depend on retirement funds and annuities

It might not impact you personally, but clearly its devastating to a lot of people.

 

[Islam Imamate]

And I lean more right than left most of the time.

I'm glad you can admit it but it's interesting that you guys get big mad when I point this out.

 

[Mr Holmes]

How pathetic.

But not nearly pathetic as a grown man spending his free time moderating a karate forum.

 

[mkess101]

He ran on this policy of tariffs across the board, none of this should be a surprise. But centrists couldn't help themselves from muddying the waters and acting like the two candidates were equally bad even though one of them ran on the dumbest economic policy platform in roughly a century.

Just feels a bit hollow to criticize the guy after he's done something that anyone who was paying attention saw coming from a mile away.

You gotta be kidding me, if Mr Holmes isn't a Trump guy then I'm not Muslim(just finished Ramadan btw).

He spoke of tarriffs absolutely. And tarriffs aren't inherently bad, presidents from both parties have used them a bunch. Again, as scalpels they have a place. As carpet bombs, they're madness. The general goal of narrowing trade gaps in specific areas and with specific nations isn't itself lunacy. I don't recall Trump ever speaking of (and maybe he did and I missed it) dropping HUGE tarriffs on every trade partner we have, all at once. And shit...maybe even if he had he'd still have won because people wouldn't have understood the repercussions.

Maybe I'm misremembering, (and I don't post in the WR as much as some) but I swear I'd seen Mr Holmes criticize Trump before.

 

[mkess101]

I'm glad you can admit it but it's interesting that you guys get big mad when I point this out.

I've never denied it! In fact, when you repeatedly called me out as a "faux centrist" awhile back I straight up said I leaned more right. What I do NOT buy into is this current MAGA brand of politics.

 

[ChosenOne]

Do people really freak out when the market dips like this or is it just performance to show you money in the market? I can't imagine freaking out about money I don't plan on touching for decades.

Well then you are very silly person, sorry.

That you cannot imagine a person older than you who is living off their savings, including what they have in markets being impacted?

There actually are quite a few additional scenarios i can imagine where a person might have a big portion of their net wealth tied up in stocks (or funds that hold stocks) where they are feeling a very real impact from their net worth shrinking.

 

[chardog]

Yeah, our trade relationship with China is exactly the same as when this clip was taken, 30 years ago.

Trade deficit was only 35B at the time, 300-400B in modern times.