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   b9AcE (b9ace@todon.eu)'s status on Saturday, 05-Apr-2025 09:11:53 JST b9AcE

   in reply to

   Oh, also, the new Nintendo Switch 2's preorders were postponed indefinitely due to Trump's tariffshit.

   • Embed this notice
     b9AcE (b9ace@todon.eu)'s status on Saturday, 05-Apr-2025 09:11:54 JST b9AcE

     in reply to

     Trump yesterday: "The markets are going to boom. The stock is going to boom."

     The market today: "Trump tariffs wipe $5 trillion off Wall Street"
     https://www.reuters.com/markets/global-markets-trading-day-2025-04-04/
     "Dow plunges 2,200 points, Nasdaq enters bear market as Trump tariffs spark worst meltdown since 2020"
     https://finance.yahoo.com/news/live/stock-market-today-dow-plunges-2200-points-nasdaq-enters-bear-market-as-trump-tariffs-spark-worst-meltdown-since-2020-200042876.html
     Tesla -10.45%
     Amazon -4.16%
     Microsoft -3.57%
     nVidia -7.76%
     Intel -11.5%
     Palantir -11.47%
     Amazon -4.15%
     Apple -6.75%
     Google -2.24&
     Meta -4.26%
     Netflix -6.48%
     AstraZeneca -7.39%
     BlackRock -7.33%
     Et cetera, et cetera...

     Several of those I've been boycotting for over a decade.
     Wheee! 😀

   • Embed this notice
     b9AcE (b9ace@todon.eu)'s status on Saturday, 05-Apr-2025 09:11:55 JST b9AcE

     in reply to

     ─────
     Global markets in turmoil as Trump tariffs wipe $2tn off Wall Street
     [...]
     Drawing comparisons with the market crashes at the height of the coronavirus pandemic and the 2008 financial collapse, the sell-off swept the globe [...].

     When New York trading opened, the S&P 500 index of the US’s leading companies fell by as much as 4.3% in morning trading, with the tech-heavy Nasdaq fund down 5.1%.

     [...] Trump said: “I think it’s going very well. It was an operation like when a patient gets operated on and it’s a big thing. I said this would be exactly the way it is … We’ve never seen anything like it. The markets are going to boom. The stock is going to boom. The country is going to boom.”
     ─────
     https://www.theguardian.com/business/2025/apr/03/global-markets-turmoil-trump-tariffs-wall-street-downturn

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     b9AcE (b9ace@todon.eu)'s status on Saturday, 05-Apr-2025 09:11:56 JST b9AcE

     Again, import tariffs are not "paid by other countries", they are added to the thing's cost at the border, so unless some corporation decides to be nice and give of their profit margin (hah!) that means the tariff is aimed at the domestic populace and WILL disproportionately impact the low income people for whom the price increase will be a larger proportion of their meager income for things they can't just "deprioritize", like basic foods, while the opulent can just decide to buy a yacht fewer that year.

     Long term, some production may move to surrender to Trump's aggression (horrible idea, considering Trump's instability) but for important stuff like food, time it would take to mass-establish new farms at required quantity is definitely more than one season (often = year) I'd say and in some cases some products just actually can not be produced in USA so in such cases the economic inflation was just drastically increased because Trump has more experience of bankruptcies than understanding of tariffs.

     Local production IS good, environmentally, income equality, labor rights, etc, but it CAN NOT be implemented at immediate whim of a decree. It is just not even theoretically possible, even if everyone in the entire world wanted it, which due to Trump's rhetoric is absolutely not the case now.