America

[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.