America

[Which Tyler]

I never understood how he managed to bankrupt a casino
A fucking casino!

I think I'm beginning to get it

[Stom]

It's not the consumable goods that's the problem, it's farming... Fertilizer costs have already risen, and they're going to go even higher. Cost of food on the plate is just going to get higher and higher for the end consumer.

Voters in the North are screwed, but Trump doesn't care about them. Texans and red Californians won't feel the problems as keenly, so that is probably the team's idea there: red meat for the core.

As for the impact elsewhere, I've seen it said before, and I've said it myself: the EU needs to distance itself and start setting up its own brands to take over. A European Amazon, Meta, etc., would go some way.

What the UK has is banking (thanks to Brexit) and the UK will therefore not suffer as much as other European countries.

But the EU needs to pull its finger out, and we know just how easy it is for one of those knuckles to get stuck on the way out...

[Puja]

Are your everyday, hard-working, Trump-voting Americans on board with all this?

Can't get my head round how getting importers and consumers to effectively pay more into the state coffers with the import levy can prove popular with a large slice of the electorate who voted for him last time ( as the more expensive, more luxury items eg cars from Europe will be in their sphere ), or if it doesn't get ditched in a few months the cross-border shenanigans with Mexico and Canada thst would naturally ensue, and the natural rise in thefts, and then insurance....nah, it's all been checked out/ planned in.Sorted
Maybe he's just scooping as much in while he's there, short-term, to help fund more forays in the Arctic region

He probably say those nasty foreign companies are raising their prices to rip off honest American folk.

The question is, are there enough ignorant voters for him to get away with it? A Fox News viewer is unlikely to encounter the truth on this.

That's basically it. Prices go up, it's because of those awful foreigners retaliating and putting tariffs on the poor innocent USA who was just trying to get a fair deal! It's not true, but it sounds truthy enough that people will buy it.

Puja

[Son of Mathonwy]

It's not the consumable goods that's the problem, it's farming... Fertilizer costs have already risen, and they're going to go even higher. Cost of food on the plate is just going to get higher and higher for the end consumer.

Voters in the North are screwed, but Trump doesn't care about them. Texans and red Californians won't feel the problems as keenly, so that is probably the team's idea there: red meat for the core.

As for the impact elsewhere, I've seen it said before, and I've said it myself: the EU needs to distance itself and start setting up its own brands to take over. A European Amazon, Meta, etc., would go some way.

What the UK has is banking (thanks to Brexit) and the UK will therefore not suffer as much as other European countries.

But the EU needs to pull its finger out, and we know just how easy it is for one of those knuckles to get stuck on the way out...

Thanks to Brexit?

Agreed that the UK has less to lose in terms of trade with the US than the EU.

Agreed about setting up alternative to US tech. It would be a good idea for the UK (probably via the BBC) to create its own Twitter, Facebook and WhatsApp clones.

[Son of Mathonwy]

Jeez, Dow Jones down 3%, NASDAQ down 5%

[Stom]

It's not the consumable goods that's the problem, it's farming... Fertilizer costs have already risen, and they're going to go even higher. Cost of food on the plate is just going to get higher and higher for the end consumer.

Voters in the North are screwed, but Trump doesn't care about them. Texans and red Californians won't feel the problems as keenly, so that is probably the team's idea there: red meat for the core.

As for the impact elsewhere, I've seen it said before, and I've said it myself: the EU needs to distance itself and start setting up its own brands to take over. A European Amazon, Meta, etc., would go some way.

What the UK has is banking (thanks to Brexit) and the UK will therefore not suffer as much as other European countries.

But the EU needs to pull its finger out, and we know just how easy it is for one of those knuckles to get stuck on the way out...

Thanks to Brexit?

Agreed that the UK has less to lose in terms of trade with the US than the EU.

Agreed about setting up alternative to US tech. It would be a good idea for the UK (probably via the BBC) to create its own Twitter, Facebook and WhatsApp clones.

Well, the (conspiracy) theory is that Brexit was about avoiding the EUs new transparency and money laundering regulations on the banking sector because banking is something silly like 40% of UK GDP and the fear was that if London loses its attractiveness, they’d all flee to Dubai, etc.

The regs did come in for the EU.

[Son of Mathonwy]

The moronic formula used for Trump's tariffs:

https://www.theguardian.com/us-news/202 ... economists

[Son of Mathonwy]

It's not the consumable goods that's the problem, it's farming... Fertilizer costs have already risen, and they're going to go even higher. Cost of food on the plate is just going to get higher and higher for the end consumer.

Voters in the North are screwed, but Trump doesn't care about them. Texans and red Californians won't feel the problems as keenly, so that is probably the team's idea there: red meat for the core.

As for the impact elsewhere, I've seen it said before, and I've said it myself: the EU needs to distance itself and start setting up its own brands to take over. A European Amazon, Meta, etc., would go some way.

What the UK has is banking (thanks to Brexit) and the UK will therefore not suffer as much as other European countries.

But the EU needs to pull its finger out, and we know just how easy it is for one of those knuckles to get stuck on the way out...

Thanks to Brexit?

Agreed that the UK has less to lose in terms of trade with the US than the EU.

Agreed about setting up alternative to US tech. It would be a good idea for the UK (probably via the BBC) to create its own Twitter, Facebook and WhatsApp clones.

Well, the (conspiracy) theory is that Brexit was about avoiding the EUs new transparency and money laundering regulations on the banking sector because banking is something silly like 40% of UK GDP and the fear was that if London loses its attractiveness, they’d all flee to Dubai, etc.

The regs did come in for the EU.

Yeah, I wouldn't use that to argue that we have our banking thanks to Brexit. We've lost a lot of ground in equities thanks to Brexit. Banking in general, probably not such a big deal.

[Mikey Brown]

Jeez, Dow Jones down 3%, NASDAQ down 5%

At least the EGG has gone way up.

[Puja]

Only a few days ago, Trump signed off on the British deal to return the Chagos Islands to Mauritius, suggesting that he, in theory, knew what they were and that they were not an independent nation and were inhabited solely by US and UK military personnel. Today, they were specifically named as one of the countries getting a 10% tariff.

Puja

[Galfon]

We have six or seven trillion dollars coming into our country," the US president says, "the markets are going to boom, the stock is going to boom, the country is going to boom".

If you say it often enough, loud enough, convincingly enough you just might.....
( 'our country' = Treasury, of course )

[paddy no 11]

That formula they've come up with to calculate the tariffs is that to make it easy for Trump to pass it off or is this how they do economics now? Do they really know what the impact of this will be?

Trump probably has a 33% fundamentalist backing.........hopefully they don't get a vote over that in the midterms.........(what I really mean is that the 66% should turf him out when prices go through the roof)

[Which Tyler]

[Son of Mathonwy]

That formula they've come up with to calculate the tariffs is that to make it easy for Trump to pass it off or is this how they do economics now? Do they really know what the impact of this will be?

Trump probably has a 33% fundamentalist backing.........hopefully they don't get a vote over that in the midterms.........(what I really mean is that the 66% should turf him out when prices go through the roof)

It's a crude-as-hell way to come up with a number and punish countries with bigger trade surpluses with the US more. it's nothing to do with foreign tariffs, there's no logic to why this number divided by two gives an appropriate tariff rate, and obviously the minimum 10% level no matter if trade is in surplus or deficit is just a dick move.

$2.5TN wiped off share prices is very bad news for Trump but we'll have to see the medium-term impact. The big sell-off shows the market doesn't expect him to back down any time soon.

[Son of Mathonwy]

So at the end of the day it was:

S&P 500
5,396.52
-274.45
-4.84%

Dow Jones Industrial Average
40,545.93
-1,679.39
-3.98%

Nasdaq Composite
16,550.61
-1,050.44
-5.97%

However global markets continue to fall today, most of them another 2% or so.

[Son of Mathonwy]

The Trump Crash of '25 continues apace, 5% off most indices US and non-US.

[morepork]

An absolute masterclass in economic mismanagement. Pension funds getting fucked with the rough end of the pineapple. Nice work.

[Son of Mathonwy]

End of day, US hit by nearly 6%, Europe 5%, AsiaPac more like 2%

S&P 500
5,074.08
-322.44
-5.97%

Dow Jones Industrial Average
38,314.86
-2,231.07
-5.50%

Nasdaq Composite
15,587.79
-962.82
-5.82%

FTSE 100 Index
8,054.98
-419.76
-4.95%

EURO STOXX 50
4,878.31
-234.97
-4.60%

Nikkei 225
33,780.58
-955.35
-2.75%

Hang Seng Index
22,849.81
-352.72
-1.52%

[morepork]

Protesting In Philly.

[morepork]

Meanwhile:

https://www.nytimes.com/2025/04/05/us/p ... -golf.html

[Son of Mathonwy]

Trump may be about to invoke the Insurrection Act (ie declare martial law). He asked Secretary of Defense Pete Hegseth and Secretary of Homeland Security Kristi Noem to recommend if it would be necessary (I wonder what they'll say?). Even if he doesn't declare now, no doubt he'll keep it as an option if people get more unhappy with the quality of his leadership.

https://www.newsweek.com/insurrection-a ... aw-2041626
https://www.sfchronicle.com/opinion/ope ... 201819.php

[Sandydragon]

Trump may be about to invoke the Insurrection Act (ie declare martial law). He asked Secretary of Defense Pete Hegseth and Secretary of Homeland Security Kristi Noem to recommend if it would be necessary (I wonder that they'll say?). Even if he doesn't declare now, no doubt he'll keep it as an option if people get more unhappy with the quality of his leadership.

https://www.newsweek.com/insurrection-a ... aw-2041626
https://www.sfchronicle.com/opinion/ope ... 201819.php

It will be interesting to see the justification given that they are already bragging about a huge drop in the number of border crossings.

[morepork]

Here comes another bailout for big investment banks....

The issue isn't immigration and beneficiaries, it's unending illogical corporate welfare. Working people fucked by the fetid Kok of corporate lobbyists whom have infected the executive branch. Again.

[Stom]

So, I'm reading the book The Water Babies to my kids. It was published in 1863. And it randomly has this line in it...

"But they are true republicans, these hoodies, who do every one just what he likes, and make other people do so too, so that, for any freedom of speech, though, or action, which is allowed among them, they might as well be American citizens of the new school."

I thought it was apt for today's America, too.

[Mikey Brown]

You kind of have to admire it.