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Wall Street stocks tumble as investors fret over US economic slowdown
- belter 2y agoThe Russian Ruble is up 3%. (No joke) https://www.google.com/finance/quote/RUB-USD https://www.google.com/finance/quote/RUB-USD
- Havoc 2y agoDoubt anyone would think it’s a joke. At this point the Oval Office may as well be redecorated in Soviet red
- Frederation 2y agoThats Soviet Red white and blyat.
- mullingitover 2y agoThey're going to completely remove sanctions on Russia before long, so that's not terribly surprising.
- deleted 2y ago[deleted]
- mantas 2y agoRuble exchange rate is propaganda. It was not possible to freely convert it for a long time. And black market rate was always very different from the official one.
- AlexeyBelov 2y agoThat's not true. I'm sending money to my mother in Russia from time to time and the exchange rate is close to real.
- adrr 2y agoTrump says he wants to start Nord Stream pipeline which means Europe will buy less American natural gas and replace it with Russian natural gas.
- wahern 2y agoSuch a curious dance. About 5 years ago the headline was, "President Donald Trump has signed a law that will impose sanctions on any firm that helps Russia's state-owned gas company, Gazprom, finish [Nord Stream 2]." https://www.bbc.com/news/world-europe-50875935 https://www.bbc.com/news/world-europe-50875935 Of course, Trump isn't the only one to do an about-face. In 2019, Germany supported Nord Stream 2, but now opposes Russian gas imports.
- skippyboxedhero 2y agoIt isn't a curious dance. The story that the parent is referring to, so far, hasn't actually been attributed to anyone in the govt. A US-based consortium is trying to get it reopened, the FT weren't able to say who this person met with, one of the people thought to be involved (a German) denied meeting with anyone, and there is no actual evidence of anyone in the government saying they are working on this...it is just a story that aligned with something that the journalist thinks the US govt is doing...but was unable to produce any evidence of this. What is possible is for NS2 to come into ownership of the US who will be able to cut it off when they choose. One of the issues with NS2, as Trump said before the war but the EU literally laughed at him for saying, was that it would make an invasion of Ukraine possible. In reality, Russia was still paying Ukraine transit fees until earlier this year. So NS2 didn't actually make a difference because Ukraine kept transiting Russian gas through the war. It made a difference before the war because Russia thought Ukraine would cut them off, Germany didn't listen and Putin gambled based on this that Germany would keep NS2 open. The time to do something was BEFORE the invasion...obviously.
- gadders 2y agoAnd Germany and other European countries, despite all their tough talk, are spending more on Russian gas than they are on aid to Ukraine:https://www.theguardian.com/world/2025/feb/24/eu-spends-more-russian-oil-gas-than-financial-aid-ukraine-report https://www.theguardian.com/world/2025/feb/24/eu-spends-more... "EU member states bought €21.9bn (£18.1bn) of Russian oil and gas in the third year of the war, according to estimates from the Centre for Research on Energy and Clean Air (Crea), despite the efforts under way to kick the continent’s addiction to the fuels that fund Vladimir Putin’s war chest. The amount is one-sixth greater than the €18.7bn the EU allocated to Ukraine in financial aid in 2024, according to a tracker from the Kiel Institute for the World Economy (IfW Kiel)."
- Trasmatta 2y agoRemember, this is the president that won largely because of people's dissatisfaction with inflation, and his promises to "fix" the economy. Instead, he's decided to wage a pointless trade war that nobody asked for, and came out yesterday essentially saying he's totally okay with a recession coming out of it. The only thing more absurd is the fact that some people didn't see this coming. He signalled everything that he's doing now during his campaign, over and over. I will say I'm pretty happy with how badly TSLA is doing.
- jghn 2y agoYou're not wrong. And yet he's polling well. And as long as people poll surface level questions like "do you like that he's cutting things?" he gets general support. Drill into specific topics item by item and it's a bleaker picture however. But that's how these things always go, like the ACA for instance.
- Trasmatta 2y agoHe's still in the honeymoon period for approval ratings. Even given that, he's barely above water.
- ethbr1 2y agoHe did get elected at 49.9% of the popular vote... so there's not exactly a lot of natural approval margin in there for him.
- johnnyanmac 2y agoA honeymoon with 40's approval ratings in a then "good" economy says a lot in and of itself. Wonder if he'll set the global record this time by the time he leaves office. He somehow just missed bottom 5 in his first term
- intended 2y agohttps://www.axios.com/2025/03/10/trump-maga-inc-power-fundraising https://www.axios.com/2025/03/10/trump-maga-inc-power-fundra... It looks like there is preparation for low polling numbers. A fund to ensure that senators and lawmakers will toe the line or be primaried.
- exochrono 2y agohttps://archive.is/1ywXe https://archive.is/1ywXe
- voidhorse 2y agoThis administration is either intentionally performing market manipulation or is simply incompetent. Either way, we all lose. Hope the general populous is happy with their choice, lol.
- JKCalhoun 2y agoI don't know — depending on if it gets bad enough, last time we got a New Deal out of it.
- iancmceachern 2y agoAfter millions died of starvation
- enoch_r 2y agoMillions did not die of starvation during the Great Depression in the US. https://history.stackexchange.com/questions/12297/how-many-people-in-the-us-starved-to-death-during-the-great-depression https://history.stackexchange.com/questions/12297/how-many-p...
- hiddencost 2y agoWe got a world war out of it as well
- gadders 2y ago..which did more to boost the economy than the New Deal.
- billy99k 2y ago[flagged]
- Frederation 2y agoYea, we wont hold our breath.
- JKCalhoun 2y agoIt'll be wild to see how Congress responds.
- cyberlurker 2y agoWe’ve been waiting for Congress to respond for weeks. I wouldn’t hold your breath.
- JKCalhoun 2y agoWith talk of a anticipated 10% to 20% drop in the markets, their silence could be ruinous.
- ethbr1 2y agoThey're busy trying to pass a continuing resolution on Republican-only votes the keep the government open. Because heaven forbid both parties compromise.
- vkou 2y agoThe compromise between fucking insanity and good governance is not agreeing to go half way into fucking insanity. Meeting an unreasonable person half-way is giving them a blank cheque to become more unreasonable. All it does is tell them that you're a sucker.
- ethbr1 2y agoDepends on what cards one is holding. Getting half of what one wants and not being driven off a cliff can be preferable to smiling in moral smugness while the car arcs through the air.
- vkou 2y agoPast behavior of this administration strongly predicts that your reward for kowtowing to its value-compromising demands... Is becoming the target of further value-compromising demands. It doesn't engage in positive-sum games.
- deleted 2y ago[deleted]
- softwaredoug 2y agoAfter the election I know Canadian and colleagues from other countries thought of moving to US for an easier time building a business. Curious if anyone from the founder / small business crowd has had this feeling and either is still interested/happy with such a move? Or regretting it? IIRC Culturally it was said by many that the US is much better that EU / Canada for building a business as US rewards ambition. While other countries it’s seen as not as positive of an attribute. Other countries did not let you easily build wealth or grow a business, while it was said US is culturally more welcoming to building wealth. I’m curious how this will change in this administration.
- __loam 2y agoIf the economy crashes I hope we can put a stake through the heart of the obsession with founders.
- mmastrac 2y agoThe American economy is a giant magnet right now -- after the inevitable crash I think that innovation would be a lot more distributed and that'll be a good thing.
- Rastonbury 2y agoKind of already happening with Asian/Chinese chip companies and will happen to European defence
- deleted 2y ago[deleted]
- bad_user 2y agoThe US makes startups easier due to easy access to capital from investors. OTOH, I'd be wary of starting a lifestyle business in the US due to the poor social safety net. Red tape is also a concern, but it depends on what European country you're talking of, some are better than others, and red tape is awful in the US as well, depending on the state. Those are basically the only considerations, everything else (like culture) is BS.
- Freedom2 2y ago[flagged]
- jrs235 2y ago"It's the deep state sabotoging them!" the kool aid drinkers will clamor.
- rurp 2y agoJust like the myth of them being the party concerned with responsible government spending. A simple chart of the annual deficit overlain with the party in power makes it clear that reality is the exact opposite and has been for many decades, but they are better at marketing that stuff than the Dems.
- BenFranklin100 2y agoTesla stock has been particularly hammered. Ontario apparently cancelled a Starlink contract and Italy is considering to do so as well. Musk’s political antics are affecting his businesses.
- JumpCrisscross 2y agoThe fact that Canada, Mexico, China and the EU haven’t banned Tesla imports yet is remarkable. I’d expect that plus additional registration charges on premium vehicles, especially Cybertrucks, within a year if this continues.
- ChocolateGod 2y ago> The fact that Canada, Mexico, China and the EU haven’t banned Tesla imports yet is remarkable. Why do they need to? They can just apply tariffs and let the consumer do it without the political baggage.
- JumpCrisscross 2y ago> Why do they need to? Messaging and frankly national security.
- skippyboxedhero 2y agoSo the EU needs to hit back for "national security" reasons against the country which has subsidised their security to the tune of tens of trillions. ...yep, makes perfect sense.
- insane_dreamer 2y agofight fire with fire
- rurp 2y agoNobody was even considering it a few months ago. I wonder if anything has changed regarding EU security recently?
- paxys 2y agoThe standard move is to hunker down for the next 4 years, keep buying low, and wait for Democrats to come back and fix things in their next term. The same cycle has repeated what, 5 times in the last 30 years?
- davidw 2y agoThese people are breaking things that cannot be fixed quite so easily. Things like the trust of other nations. Scientific research. There are a lot of things that will take a generation or more to repair, if ever.
- stvltvs 2y agoThey seem to be doing their best to break the American wealth machine so bad that we could see lost decades like Japan did.
- Trasmatta 2y agoHopefully there's still a free and fair election in 4 years. That might be contingent on how well Democrats do in next year's election. We need Congress back.
- swarnie 2y agoOr look somewhere else. I'm not sure i want to stick money in a country that could implode every four years.
- atypeoferror 2y agoTo be fair, the sub-prime lending crisis had its roots firmly in Clinton-era repeal of Glass-Steagal, so it’s not all so easy. No particular love for the Republican Party, but it’s a problem created by the Democrats, which they then patched with the inferior Frank-Dodd. Plenty of stupidity to go around, I would say.
- rayiner 2y agoGlass-Steagal was repealed by a GOP Congress. And the 2009 bailouts were Obama’s implementation of a plan devised by the Bush administration. That said in economic and trade policy there’s not much difference between Reagan/Bush/Clinton/Bush/Obama. All support free movement of goods and labor. The only difference was in how big of a welfare state to have to mitigate the negative effects.
- bparsons 2y agoThis is all looking like a strategy to intentionally depress asset valuations so that they can be acquired at fire sale prices.
- seanicus 2y agoYeah, this has read to me as another double win for the Disaster Capitalist class. I'm sure we'll be seeing record profits for the s & p 500 by year's end no matter the outcome for the rest of us.
- fatbird 2y agoPeter Navarro is the big driver of Trump's economic approach (and he's a mercantilist quack): https://hatchetmedia.substack.com/p/the-man-behind-trumps-war-on-canada https://hatchetmedia.substack.com/p/the-man-behind-trumps-wa... (podcast with Justin Ling, a great independent journalist) and https://www.bugeyedandshameless.com/p/beggar-thy-neighbor-beggar-thyself https://www.bugeyedandshameless.com/p/beggar-thy-neighbor-be...
- insane_dreamer 2y agoalso a long-time China hawk (like on the far end of hawkism)
- fatbird 2y agoAnd Canadians, apparently! "the only diplomats who were more treacherous and disingenuous than the Canadians were the Communist Chinese."
- insane_dreamer 2y agoTo be fair, Canada is the only country that has ever invaded the US :)
- maxglute 2y agoTimes needs to get less interesting.
- rekabis 2y agoStocks won’t fall as far as the economy, so when people start selling off everything not nailed down just for tomorrow’s food, the wealthy can swoop in and buy it all up for pennies on the dollar. It’s the whole game plan, after all. Land, especially: generally speaking no-one is really making any more land all that fast, and when it comes down to your family starving or selling off your land for food, the land goes pretty f**king cheap and pretty damn fast. By this method, the Parasite Class will end up owning all the land and everything in it, and the entire Working Class will become the modern version of tenement farmers or those living in company towns - slaves, essentially.
- doctorpangloss 2y agoYeah, land… you know US CRE is on the precipice of disaster, Chinese RE had some huge disasters. And the best opportunity for RE came and went in 2009. Meanwhile the top S&P500 stocks were not the top in 2009, even Apple had already released the iPhone back then. I understand you are making a colorful comment. But “real estate tycoon” isn’t the antagonist for many people.
- h2zizzle 2y agoThat's if they're allowed to force the liquidity hose to stay open. An alternative future is one where everyone's bets get called in (as should happen during a downturn). The richest are far more underwater in an asset bubble pop environment than the rest of us are. Remember who bailed out who in 2008. Force them to close their existing obligations. People will be able to keep their land (albeit worth phenomenally less).