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#stupidity

47 posts11 participants1 post today
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William Lindsey :toad:

"It was a bloodbath on Wall Street today, as Trump’s ‘Liberation Day’ tariffs are liberating people from their retirement savings and investments. The Dow was down 2,231 (5.50%), NASDAQ was down 962 (5.82%), and Tesla was down a whopping 27.85 (10.42%)."

~ Ron Filipkowski


/23

meidasplus.com/p/today-in-poli

Meidas+ · Today in Politics, Bulletin 105. 4/4/25By Ron Filipkowski
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William Lindsey :toad:

"Since the re-installment of Russian Asset Trump, the US stock market has seen nearly ten trillion in value disappear, with five trillion erased over the past two days. According to multiple reports, this is the largest two-day loss in American history."

~ Heidi Siegmund Cuda


/22

bettedangerous.com/p/bottoms-u

Bette Dangerous · Bottom’s UpBy Heidi Siegmund Cuda
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William Lindsey :toad:

"Stock market closes week in bloodbath as Trump’s tariffs cause historic two-day drop and wipe out $6 trillion.

The stock market closed with a bloodbath on Friday as the Dow Jones lost 2,231 points and the S&P 500 dropped 6 percent as investors are spooked about the impact of President Donald Trump’s tariff plan."


/21

~ Katie Hawkinson

independent.co.uk/news/world/a

The Independent · Dow Jones has lost 2,000 points on Friday as stock bloodbath continues in wake of Trump’s tariffsBy Katie Hawkinson
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William Lindsey :toad:

"The sweeping package of tariffs unveiled by Donald Trump on Wednesday includes an exemption for the energy sector, which is a clear sign of the president’s fealty to his big oil donors over the American people, advocates say."

~ Dharna Noor


/20

theguardian.com/us-news/2025/a

The Guardian · ‘Oligarchy’: Trump exempts big oil donors from tariffs packageBy Dharna Noor
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William Lindsey :toad:

As Edward Helmore reports, New York shopkeepers featuring imported goods are announcing that they will have to hike prices "astronomically" due to Trump's "liberation" tariffs.

Jennifer Pulidore of Myers of Keswick, a shop selling British groceries, says, 'The price of chocolate has gone up astronomically.'"


/19

theguardian.com/us-news/2025/a

The Guardian · ‘Scary times’: New York shopkeepers plan ‘astronomical’ price hikes under Trump tariffsBy Edward Helmore
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William Lindsey :toad:

"The Chinese Ministry of Finance, calling @POTUS new tariffs on Chinese imports a 'typical act of unilateral bullying,' responds overnight with a 34% tariff on all goods imported from America. And so the President's trade war escalates."

~ Garrett Haake quoted by Greg Dworkin


/18

dailykos.com/stories/2025/4/4/

Daily KosAbbreviated Pundit Roundup: Trump deliberately tanks the economy as Republicans sit back, do nothingThe Economist: President Trump’s mindless tariffs will cause economic havoc But the rest of the world can limit the damage I F YOU � failed � to spot America being “looted, pillaged, raped ...
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William Lindsey :toad:

"I’ve said before that Trump does not think of policy the way most of us do, operating instead like a low-level mob boss running a protection racket. Unfortunately, a bunch of rubes decided to give him another bite at the apple, and now the entire global economy has to pay up."

~ Marlon Weems


/6

thejourneyman.substack.com/p/h

The Journeyman. · Here Comes the PainBy Marlon Weems
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William Lindsey :toad:

"As world leaders reacted to the US president’s 'liberation day' tariff policies demolishing the international trading order, about $2.5tn (£1.9tn) was wiped off Wall Street and share prices in other financial centres across the globe."

~ Richard Partington


/15

theguardian.com/business/2025/

The Guardian · Global markets in turmoil as Trump tariffs wipe $2.5tn off Wall StreetBy Richard Partington
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William Lindsey :toad:

"Business still hasn’t grasped how bad things are. For while tariffs are dominating the news right now, they’re part of a broader pattern of malignant stupidity. It may take a while before we see the effects of DOGE’s destruction of the government’s administrative capacity, or RFK Jr.’s destruction of health policy, but we will see those effects eventually."

~ Paul Krugman


/13

paulkrugman.substack.com/p/how

Paul Krugman · How a Con Man President Is Destroying ConfidenceBy Paul Krugman
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William Lindsey :toad:

“The vast majority of us will be worse off. It’s not that complicated: Tariffs are a tax. Some of that tax will be eaten by the foreign producer… some of it will be eaten by the importer. But a big chunk of it will be paid by American consumers.”

~ James Surowiecki


/12

zeteo.com/p/people-will-become

Zeteo · ‘People Will Become Destitute’: Trump’s Tariffs Are Already BackfiringBy Team Zeteo
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William Lindsey :toad:

"The tariffs announced this week by President Donald Trump have significantly increased the chances of a U.S. and global economic downturn, according to JPMorgan. “These policies, if sustained, would likely push the US and possibly global economy into recession this year,” wrote head of global economic research Bruce Kasman in a note late Thursday."

~ Jesse Pound


/10

cnbc.com/2025/04/04/jpmorgan-r

CNBCJPMorgan raises recession odds for this year to 60%Tariffs from the Trump administration make a global recession more likely than not, according to JPMorgan.
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William Lindsey :toad:

"According to a report from recruiting firm Challenger, Gray & Christmas released on Thursday, 275,240 people lost their jobs last month. That is a fuckton of people. In fact, it is the third highest number of jobs lost in a single month since they first started tracking job cuts in 1989, the other two being the first two months of the COVID pandemic.

~ Robyn Pennacchia


/9

wonkette.com/p/here-come-the-l

Wonkette · Here Come The Layoffs!By Robyn Pennacchia
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William Lindsey :toad:

Andy Kaczynski, quoted by Bulwark, reminds us of a "top banker" quoted by media after Trump's election, who said he felt "liberated" because he could now say the words "pu—y" and "ret-rd" with fear of being "cancelled." Kaczynski wonders if Financial Times can check in on that banker about how "liberated" he's feeling right now.


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