US economy shrank 0.5% between January and March, worse than 2 earlier estimates had revealed
US economy shrank 0.5% between January and March, worse than 2 earlier estimates had revealed
The U.S. economy shrank at a 0.5% annual pace from January through March as President Donald Trump’s import taxes at least temporarily disrupted business, the Commerce Department reported Thursday in a a downgrade from its previous estimate.
I’m gonna see if my job would be willing to pay me in euros
News about the US economy is similar to news about the Climate in general, things just keep getting worse... and fast.. but the articles and coverage always have to start from the perspective that "darn, well good thing we pulled out of that nosedive!". Same thing with US stocks, they are full of cope right now and cope unlike love doesn't last forever.
At this point I feel like I am in a stukka dive bomber while an economist in the front seat tells me that the ground is an irrational actor and we shouldn't be worried because the economist didn't need to learn how to fly the plane since flying planes is much more simple than fiscal economic policy, and they are the experts here.
I will say, that I moved all my entire 401(k) balance into international market funds, and out of anything based in the United States. Currently, my returns are killing it. I realize that a few months is not a firm or lasting indicator, however, I do feel it is both telling, and a very good sign, for my finances at any rate.
I mean, I don't have any money saved up so like jokes on them...
...but also yeah it is clear to me that the world is going to de-dollarize in terms of the US dollar being a financial reserve currency, but nobody not even people who hate the US (what could you ever be upset with us about???) wanted the de-dollarization to happen this fast and violently but I think a lot of powers that be in the global economic system are realizing they can't wait.
It is going to cause a lot of hurt, and it is wise of you to get your money as far from the US as you can because the signs are pointing in my opinion to a great depression right now in the US. It still can be avoided or mitigated, but those things are not happening, the opposite is happening at an accelerating rate shrugs.
What worries me most isn't actually the conservatives making this great depression 2 happen, the most worrying thing to me is that the rest of this country is in denial about how bad it is about to get. We have decided a great depression can't and won't actually happen in 2025, we have moved past that stuff, same thing with covid. It is a very scary and sickening society to reside in ughh.
the ground is an irrational actor
The math works out, after the plane goes to zero height, it will just continue to negative heights. Nothing to worry about, the plane will recover at some point.
Well, it always has in the past, so clearly. You can’t argue with science.
Think about it this way, the moment before the crash the plane needs wings because it is flying through the air, once it passes through the ground though if the wings fall off and there is some other damage to the fuselage we are going to be ok because the plane doesn't need those for flying through the ground.
Look right now I just made a stock trade to buy some stocks in airplane wing manufacturers! I am going to get rich repairing this plane.
plane explodes into fireball after hitting the ground at a near vertical angle
Technically there are places on earth that are below sea level, so if that's your measure for altitude you could have negative altitude and still be flying. But I don't think you could ever have negative AGL.
Yeah, the question I don't know the answer to is, what is the hard limit to the market's greed? In a hypothetical scenario where every single trader successfully agrees to maintain their positions and continue buying shares at inflated speculative prices so that the market holds its value (apparently where we find ourselves) at what point does that strategy catch up to them? If the greed manages to never shifts toward fear, can the market sustain this indefinitely? Or is there some point where speculation has to manifest actual gains?
I guess that point is when traders can no longer afford speculation? Which probably translates to: boomers retiring and cashing out their 401k.
"How could Biden do this?"
Hungarian here. Once that will run out its course, they'll say "How could Canada/Mexico/China/Europe do this?".
"we're going to go ahead and funnel more money to the top 1%"
and then
"why aren't people spending more money!?"
Doesn't matter. We are going to get so rich putting AI into everything. Stock will go up because we can fire everyone (except CEOs, they have inherent magical abilities not based on intelligence) and then we will have all the money. We just need to find new markets for our products because nobody (except us) has any money.
The bad news is it was just the start and we are three months further in.
Fantastic job Orange Turd.
Don't be so butthurt, most Americans got what they asked for.
/s
Don't worry, this is just the beginning, but I'm sure this recession will soon become a GREAT depression.
the greatest most spectacular depression you have ever seen. Let me tell you folks. You have never seen depression this deep or this hard. They used to be jumping out of buildings but now they will be jumping out of spaceships.
Good thing this won’t ever spread to other counties.
Actually I think it will spread to all counties in USA.
If you think your county is safe, you are naive.I don't think it will spread much to other countries either. USA already did their worst with the tariffs, but this is not like a financial crisis where other countries lost money just as much as USA did.
This is USA alone, and USA alone will be clearly the hardest hit by their own stupidity.
LINE GO DOWN
And the stock market went up because they think interest rates will come down? Not sure if anyone is willing and or able to shed light it
AMERICA IS GREAT AGAIN 🥇
^Am I doing this right?^
So much winning.
And yet somehow cost-of-living went up