- cross-posted to:
- news
- cross-posted to:
- news
Six weeks into his second term, the U.S. president has hit imports from Mexico and Canada with 25% levies, put an additional 20% tariff on goods from China, threatened reciprocal tariffs globally and cut off military aid to Ukraine.
But instead of the rising yields and higher dollar that investors had wagered on in November, the so-called “Trump trade” is in full retreat.
Trade conflict has begun in earnest and the dollar is falling while bond yields dive.
U.S. allies are rattled. As Goldman Sachs analysts note, the average tariff rate on imports from China is now 34% and the increase is already roughly twice as large as that in the first Trump administration. Nobody wants to bet anymore that there will be swift compromises or deals.
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Fuckwits. Should have taken shitwit seriously a long time ago.
They are economists. You know, like people, but stupid.
It was time to take the motherfucker seriously 9 years ago.
You know they just wait to see numbers. They don’t care about words.
Show them at Tesla stocks. That’s their future. Off a cliff.
“I’m spending a lot of time talking to CEOs who are really trying to understand the consequence of some of this,” said Goldman Sachs CEO David Solomon at conference in Australia.
“Until there’s more certainty, we have a little bit more runway time. I think we’re going to live with a slightly higher level of volatility. But I think he (Trump) has a purposeful direction that he’s pursuing, and we should take him at his word that he’s going to pursue that direction.”
I mean, I think that there’s an extremely straightforward purposeful direction. He campaigned on tariffs. He appeals principally to a group of people who want protectionist trade policy. Those people are in swing states and don’t like trade with Canada and Mexico. He’s worked hard to give the impression that he’s adopted protectionist policy in the past. Why would he stop?
I don’t think that there needs to be some kind of more-complicated plan. You’ve already got a plan on the table in front of you. The only degree of complication is that Trump’s tended to aim to give the impression that he’s adopting considerably more-protectionist trade policy than he actually is.
since it’s Goldman Sachs saying this, anybody have any ideas for stock/bond purchases that would further hurt them? I mean, they deserve it normally…
I mean, Goldman Sachs is publicly-traded, and you can short them. That will – by a tiny amount – decrease the amount of the company. Unless you’re throwing around huge amounts of money, they won’t notice, though, and I’d call the whole process of activist investment generally not very sensible, as in an efficient market, capital from other investors should flow into the hole you’ve created and pull the value of the company back up. I’ve heard the process of activist investing described as “trying to bail a hole in a lake”. I don’t think that that’s a good way to express disagreement with the CEO of the company, and would consider doing so to be an unwise decision in terms of your own finances.
I’ve seen a lot of moves by people on various communities here who are upset over one aspect or another of the Trump administration talking about or encouraging things that I’m pretty sure aren’t going to do much to stop them. This includes:
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Not buying any products from anyone for one day.
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Highlighting some vehicles being burned at a Tesla dealership in France.
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Highlighting a row of Tesla superchargers being burned in Massachusetts.
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Spamming a DOGE email address.
Some of those can potentially be personally-costly, like giving someone jail time, but I don’t think that anything on there will likely stop Trump or Musk from doing things or reverse what they’re doing.
I’m gonna repeat the last comment I made on the topic: if someone — assuming that they’re in the US — legitimately wants to stop the stuff the Trump administration is doing, the most-direct route is probably for the Democrats to flip the House in the midterms. It’s likely that they will cheerfully disrupt a lot of this, to the extent that they can. Right now, the GOP holds a trifecta, and Congressional Republicans are very likely to be very hesitant to do anything that starts a fight with the President and might threaten their legislative agenda, even people like Lisa Murkowski, who has been pretty vocally upset with Trump. The Democrats, on the other hand, have every incentive to do so. I’d go link up with the Democratic Party – I know that they take volunteers, though I’ve never done so myself – and ask what someone can volunteer to do to flip the House in the midterms. That’s nearly 23 months from now, which is a while, but that’s the biggest hammer readily available.
kagis
They do have this “volunteer” page, including with some checkboxes as to what one wants to volunteer to help do. I don’t see specifically “flip the House in the midterms”, but some similar-sounding stuff is in there, and I’m sure that if someone gets in touch with them and talks to a human trying to organize volunteers, they can probably hook someone up with whatever is going on there.
Thank you. Yeah, that’s what I figured, but anything to inflict pain on GS would have been a bonus.
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Yes you should the Orange Turd is trying to destroy America and its allies. He is Putin’s puppet you MAGA morons.
He’s not communicating a plan, he’s incredibly volatile and is lashing out at those that he feels have wronged him, he acted like a bellend with Zelenskyy, and he’s named after the noise you make when you break wind…how the fuck are you meant to take this man seriously?
Edit; corrected a word.
It’s wild how “take seriously” just means “stop pretending that his ramblings are seventh dimensional chess”. Sometimes, the emperor really is just wearing no clothes!
Exactly. I get it now. I’ve been trying to get my head around this “take Trump seriously” comment for what feels like days.
There’s a difference between taking the man seriously and taking the impacts of the man’s actions seriously.
You can put Caddyshack-era Bill Murray in the presidency and not take him seriously, but if he starts making his predictable nutcase ramblings into multi-daily Executive Orders then you better take that seriously.
Imagine if Yosemite Sam is the president and the gun is loaded with tax cuts, firing people and tariffs, lots and lots of tariffs.
