News

Every accusation is a confession.

Damn he’s so self aware /s

For comparison, there was a 6% drop in the market in early August, and the market closed the end of the month up 2.4%

He'll issue an executive order establishing that the market can only go up

He will. But not for us.

To hear him and his apparatchiks tell it, he was handed a DISASTROUS economy and we can all expect it to take a while for little d to fix it?

As if we cannot see with our own eyes that the economy he was handed was outstanding and his tariffs are the cause of these crashes?

This stuff reads like it was issued from the Ministry of Truth in 1984...

Like it does not compute how you can be that dumb

Easy, lack of education (or even actively detrimental 'education'), courtesy of decades of Republican sabotage of the education system

it's so much more than stocks. stocks are mostly vibes and short term get rich schemes for already wealthy people. they're Pokemon cards for the finance class, creating almost nothing tangibly beneficial to society. hype and FUD in an endless cycle.

you can't eat stocks. you can't warm your house with stocks. you can't manufacture solar panels with stocks.

real wealth, the serious fuck you Big Money, depends on the ownership and distribution of real resources: real estate, agricultural land, factories, pipelines, commerical buildings, capital infrastructure. these are what the ultra wealthy buy up during recessions and then charge rents and leases for everyone else to pay, forever. forget about owning land or a home, your kids can't compete with someone paying cash on a 600k house or snatching up entire portfolios of hundreds of rentals in a single purchase.

bailouts and blank checks given out as PPP loans to "business owners" during Covid redistributed wealth from the taxpayers (government) into the hands of the wealthiest people in the world. they can then convert their Pokemon collections into real wealth generating resources. government bailouts to corporations become an engine for not just making the rich richer but the types of assets they then acquire using that money cements them at the top of the wealth generation food chain forever.

Trump 2.0 is engineering another massive redistribution, even bigger and more focused on real estate than before. he made his fake reputation on real estate. loyalist oligarchs who bank rolled dark maga will be handsomely rewarded with the newly emptied government office buildings and public lands.

and your kids and grandkids will be homeless.

yup, I'd buy apple or microsoft or nvidia because they are going down now but will go up certainly in 1 or 2 days or even weeks/months. Except tesla, this one will go down and down and down for days/weeks/months, tesla stock is super toxic, dump all of it.

Only if we're on the any%, this is looking like a 100% run so more like 'Depression'

Billionaries just short the stocks and make tons on the way down as well.

The people have spoken! Trump is so much better for the economy! /s

It’s crazy that with a tariff on energy, utilities and energy are up lmao.

Eggs? In this economy?!

Look at Mr Fancy over here eating a whole egg every day.

Not unless you're retiring soon. You want to buy when things are low.

Well two thirds or more of their portfolio should be in bond markets if they are close to retirement.

The TCJA passed in Trump's first term. It cut the mortgage interest deduction.

Mortgage interest deduction for newly purchased homes (and second homes) was lowered from total loan balances of $1 million under current law to $750,000. Interest from home equity loans (aka second mortgages) is no longer deductible, unless the money is used for home improvements.

The mortgage interest deduction is a tax break for homeowners, and Trump Term 1 saw that get cut. One would expect that cut to generally apply downwards pressure on house prices, since it makes it more-expensive to borrow money to buy a house.

If one assumes that one could use that as a guidepost as to policy during a second term, maybe that'll continue.

kagis

https://doeren.com/viewpoint/president-trumps-proposed-tax-plans

To that end, GOP lawmakers in the U.S. House of Representatives have compiled a 50-page document that identifies potential avenues they may take, as well as how much these tax and other fiscal changes would cost or save.

To help generate savings, the GOP document proposes making changes to various tax breaks, such as:

• The mortgage interest deduction. Suggestions include eliminating the deduction or lowering the current $750,000 limit to $500,000.

Sounds like it. So that could push prices of houses downwards.

I haven't been following the situation there, so this is just a quick skim, mind.

EDIT: I'd also add that some of Trump's policies may have dramatic increases on house prices, depending on what he actually does at any given point in time; he's not really one for providing clear guidance, and even when he does, one can't very well take his statements at face value. Two potentially relevant factors include:

• Trade disputes with Canada. The US gets a lot of its lumber from Canada, and North American homes are typically wood-framed. If lumber becomes more expensive, that will drive up the materials cost of construction of new homes.

• Illegal immigration. If Trump actually has a significant impact on the illegal immigrant population, it will increase labor costs in construction, as construction makes use of a lot of illegal immigrant labor. That will drive up the labor cost of construction of new homes. My personal take is that most of Trump on immigration is political theater for domestic politics, but it's worth keeping in mind.

So it's hard to judge what factors might dominate.