Stock market

[Sum1]

Buy the dip!

 

[Wall-eyes]

I'm retired and Trump's gross mismanagement of the economy has cost me $20,000 in the last couple of months. It's going to take the country years to recover from his disastrous policies. Don't know how we'll dig out of the massive deficit his budget has. But I guess I shouldn't complain, I got an extra $50 income tax refund last year. Don't know how I would have gotten by without that. ;:;banghead

If you are retired and lost 20K better change your portfolio, I am just fine put I have great financial advisor I work with. My Gold is really nice too.

 

[camper]

 

[Trip McNeely]

Too bad none of us degens bought newsmax IPO yesterday….. 100-200 shares would have paid off mortgages today….

 

[Pheasant 54]

If you are retired and lost 20K better change your portfolio, I am just fine put I have great financial advisor I work with. My Gold is really nice too.

Glad you found a good advisor , I never did. Everyone was more interested in their commission than my getting ahead. Glad I did some gold also . Bought it at the right time .

 

[riverview]

stock market is long term if i got all wound up every time i lost money id be a basket case

 

[jdfisherman]

I have 7 - 8 years to retirement so I look at these downturns as more purchasing power for my 401k contributions.

 

[Davey Crockett]

Two things that make me leary of the stock market right now. AI and tariffs


The major tariff act of the 1930s, known as the Smoot-Hawley Tariff Act, was signed into law by President Herbert Hoover on June 17, 1930.

Here's a more detailed breakdown:

• Name: Smoot-Hawley Tariff Act (also known as the Tariff Act of 1930)
  
  
• Date of Passage: June 17, 1930
  
  
• Purpose: To raise tariffs on imported goods to protect American businesses and farmers.
  
  
• Key Figures: Senator Reed Smoot and Representative Willis C. Hawley, who sponsored the bill.
  
  
• Impact: The act raised tariffs on more than 20,000 imported goods, leading to retaliatory tariffs from other countries and a sharp decline in international trade, which many economists believe exacerbated the Great Depression.
  
  
• Significance: The Smoot-Hawley Tariff Act is often cited as a key factor in worsening the Great Depression.

 

[Traxion]

If I were close to retirement, I’d have ridden the Trump wave in January then bailed to safe haven fastening the hatches down.

Tomorrow could be a real ass kicker. We’ll see.

 

[Rowdie]

 

[Trip McNeely]

If I were close to retirement, I’d have ridden the Trump wave in January then bailed to safe haven fastening the hatches down.

Tomorrow could be a real ass kicker. We’ll see.

Like bonds?…. Hang on a bit longer… trump isnt fucking around anymore…. So far he’s stood on his word. We may experience some short term pain but America will experience a new golden age. Those were his words… .. my gut tells me he has a plan and it’s a good one….Im hearing the tariff talk is to create uncertainty in the market…. Which will flock investors to bonds…. Which in turn wpuld help lower interest rates….. of which we need to refinance 9T in debt by June…… refinancing at a lower rate will help curb inflation. Also in regards to the tariffs I think he’s working some solid angles on that front as well. It’s just going to take time….. he doesn’t want Canada…. He wants Alberta. If Carney is elected and the tariffs continue Alberta may succeed from Canada which would start a chain reaction…… trump is playing 3d chess right now. We don’t understand it but something tells me in 6-8 months we’re going to take off to new highs…… also he is using tariffs to cut the dead weight and re-align with the more powerful countries of the world. China-Russia- India…..he called out the countries taking advantage of us through trade or military obligations and now it’s sink or swim time for them…. The media is crying boogie man but in the end we will win as far as trade and partnerships worldwide…. Just my .02 but my gut tells me the market is coming back harder than ever we just need to be patient.

 

[Fester]

Like bonds?…. Hang on a bit longer… trump isnt fucking around anymore…. So far he’s stood on his word. We may experience some short term pain but America will experience a new golden age. Those were his words… .. my gut tells me he has a plan and it’s a good one….Im hearing the tariff talk is to create uncertainty in the market…. Which will flock investors to bonds…. Which in turn wpuld help lower interest rates….. of which we need to refinance 9T in debt by June…… refinancing at a lower rate will help curb inflation. Also in regards to the tariffs I think he’s working some solid angles on that front as well. It’s just going to take time….. he doesn’t want Canada…. He wants Alberta. If Carney is elected and the tariffs continue Alberta may succeed from Canada which would start a chain reaction…… trump is playing 3d chess right now. We don’t understand it but something tells me in 6-8 months we’re going to take off to new highs…… also he is using tariffs to cut the dead weight and re-align with the more powerful countries of the world. China-Russia- India…..he called out the countries taking advantage of us through trade or military obligations and now it’s sink or swim time for them…. The media is crying boogie man but in the end we will win as far as trade and partnerships worldwide…. Just my .02 but my gut tells me the market is coming back harder than ever we just need to be patient.

Yup...gonna be some pain but should have good results as long as we stick with it.

 

[Kurtr]

I’m in for Alberta can we just trade them Minnesota and call it even?

 

[Kentucky Windage]

I’m in for Alberta can we just trade them Minnesota and call it even?

Haha. Maybe if they threw in a first round draft pick, or 3

 

[Traxion]

I hope you’re right on the long term. My gut says we’re in for tariffs that will essentially be the largest consumptive tax increase we’ve ever seen. And that Canada and Alberta will tell us to fly a kite.

As much as I wish it would, I don’t think isolationism will solve our problems. We need to cut spending and concentrate on us, but the global economy and trade is still a big part of our success.

But I’ve got an open mind. I’ll hold my judgement till next summer!

 

[Fester]

It currently is the race to the lowest wages a CEO can find. This does not help in any way. The cheapest labor does not equal lower prices for the consumer but higher profits for the company. The argument back in the 90's was just that..lower prices for the consumer..this has not happened and I believe Trump realizes this. It has not done anything for the middle class other then ship manufacturing jobs overseas hurting the middle class. I believe he is trying to undo what has been done by politicians who were convinced(bought) by corporate America and to try and restore jobs for middle class Americans. This also will lift people oit of poverty creating middle class jobs if/when the jobs return to the USA. The problem is if a new president comes in and undoes what he has done. I read someplace that was exactly what some automotive manufaturers were going ro do. Just try and wait out a new adminustration...one they can afford.

 

[Traxion]

I agree with what you're saying and what is trying to be done. However, I think there are some big challenges. First, time....it has to be done quick. Cranking up a factory, getting suppliers and materials lined up, finding help (immigrants.....oh wait?), it all takes time. You've got to train workers. This is all time consuming and expensive. You're also probably coming from a low cost country, to now a high cost country. Your product is going to cost more, without question. Americans have just dealt with years of high inflation, and this will only prolong and probably worsen things in the short term. That's where we're back to time and the fact that I don't think the public will have the patience to deal with this for a long term gain. Then add in the uncertainty that Trump brings and do you want to really go all in when the tariff switch could be turned off tomorrow? That's a huge risk as a business owner. This all happens as we are losing sales and market share in other industries due to retaliatory tariffs with many folks likely in a worse economic position as well. So the balance of the short term pain for long term pain will be the tipping point of if it works or not.

I work with a lot of projects that use Buy America or Buy American specifications. The cost difference on some items produced domestically versus import can be incredible. I'd say on average I could purchase imported steel fasteners at anywhere from 30-40% of the domestic price. I had a large quantity of small fasteners that I recently got quotes on and imports were 11% of the domestic cost. If I handed you the mill reports and the end product you wouldn't know the difference. But, their costs are so much lower over there that they can produce it and send it across the ocean for that much less than we can do it here. It is incredible to me that they can even make a buck doing it.

Tomorrow will be a fun one!

 

[Fester]

I agree with what you're saying and what is trying to be done. However, I think there are some big challenges. First, time....it has to be done quick. Cranking up a factory, getting suppliers and materials lined up, finding help (immigrants.....oh wait?), it all takes time. You've got to train workers. This is all time consuming and expensive. You're also probably coming from a lost cost country, to now a high cost country. Your product is going to cost more, without question. Americans have just dealt with years of high inflation, and this will only prolong and probably worsen things in the short term. That's where we're back to time and the fact that I don't think the public will have the patience to deal with this for a long term gain. Then add in the uncertainty that Trump brings and do you want to really go all in when the tariff switch could be turned off tomorrow? That's a huge risk as a business owner. This all happens as we are losing sales and market share in other industries due to retaliatory tariffs with many folks likely in a worse economic position as well. So the balance of the short term pain for long term pain will be the tipping point of if it works or not.

I work with a lot of projects that use Buy America or Buy American specifications. The cost difference on some items produced domestically versus import can be incredible. I'd say on average I could purchase imported steel fasteners at anywhere from 30-40% of the domestic price. I had a large quantity of small fasteners that I recently got quotes on and imports were 11% of the domestic cost. If I handed you the mill reports and the end product you wouldn't know the difference. But, their costs are so much lower over there that they can produce it and send it across the ocean for that much less than we can do it here. It is incredible to me that they can even make a buck doing it.

Tomorrow will be a fun one!

That is 100% the problem..time. most people dont want to sacrafice anything for the bettermwnt of our country. My opi ion and i know this is not gonna happen pipe dream etc...EVERY politician including our 3 stooges we had ..should be paying back there wealth to the country for selling it out...remember Dorgans house? Yeah that doesnt come from a sentors salary. Anyways i do agree things can be more costly to produce here in America but i and alot of people would be willing to pay for it. I believe it was Fox news that did a poll on it and it was somewhere in the 65% range of people that would agree with that. I believe if manufacturing came back to us there would be a slight increase in price but more of the corporations controlling costs as well as profit margins not so high. Example: chevy makes about 10k-17k per truck...they may have to cut that down to 7k-15k per truck to make it more in line with what the American people will pay without disrupting the output of production. Bringing the jobs back to the US also creates internal co.petition on price control. Right now the way they control it is by talking to vietnam or india or...to find who will pay their employee aka the 10 year old the cheapest wage. A way to get around all of this is stop farming american jobs out to cheap labor. If Americans make decent money they can afford the additional costs. Non of this will happen though with lobbyists and CEO's being allowed to influence our politicians..its why we are in the shit hole to start with. Get rid of that and things would be good.

 

[Trip McNeely]

I hope you’re right on the long term. My gut says we’re in for tariffs that will essentially be the largest consumptive tax increase we’ve ever seen. And that Canada and Alberta will tell us to fly a kite.

As much as I wish it would, I don’t think isolationism will solve our problems. We need to cut spending and concentrate on us, but the global economy and trade is still a big part of our success.

But I’ve got an open mind. I’ll hold my judgement till next summer!

From my understanding Alberta is about done with Quebec. Canadian Provinces have the ability to succeed a lot easier than the states do. From my understanding they may not “join” the US as a state but declare their own sovereignty and be able to make their own trade law. This is what trump is shooting for. If he can swing Alberta the rest of Canada will follow as the western provinces make up a large portion of Canadas gdp. I really don’t think the tarriffs are more than a game of chicken more or less. We’re getting fucked so the very least some trade imbalances will be evened out even if trump backs off on tarriffs down the road. I really think the main reason he’s doing them is to drop the market to refinance debt. Once thats accomplished I think he’ll start making deals on tariffs. Yes it’ll be choppy for a bit longer but I think the next 5-8 months is a good time to load the boat. But seriously guys I work in the trades so this is 147% not financial advice.

 

[5575]

Gold revaluation
Get ready because that hasn't been done since 1973 when it went to $42.22 and it's around 3k now.

Trip is right, I think Alberta is ready to jump ship. But they can keep everything from Winnipeg east.