Dow plummets as China backs out of trade talks

But will they buy my soybeans?

Lord... Is this the start of the recession that's been predicted?

R1, no

China can't back down. They should target politically sensitive US exports. Hard.

The dow goes up and down like a honeymooner's foreskin. Down 350 one minute, up 100 the next. Just like a company can come out with great earnings and the stock tanks while another company can come out with bad earnings and the stock rises. It's all bullshit not related to any real fundamentals. It's Russian Roulette. I wouldn't be surprised if the dow is up by the open tomorrow. No need for a sleepless night.

R5, please do fuck off. The dip is a direct result of China's decision. You have no idea how Trump is going to stick his Twitter foot in his mouth come Monday to further exacerbate the situation and cause the market to react, so STFU.

R5 = Trump, Mulvaney, Mnuchin, Kudlow, Ross.

The sky is falling! THE SKY IS FALLING! Are you the same amateurs who started those threads a few months ago when the Dow dipped for a day or two?

Oh please do fuck off yourself, R6. My boyfriend actually works on Wall Street so I know the truth of what's going on. Is this dip due to China? Yes. But that doesn't mean it'll be down at the opening. Maybe it will be. Maybe it won't. And, even if the dow is down big tomorrow that doesn't mean it won't be up just as much the next day. That happens all the time. Dow rising or falling by the hundreds every day. Stop living minute by minute. Holding stocks is for the long term.

Those threads had some good discussions on investings, r8.

Agreed, r9, this is only the implied opening. It doesn't mean the market will actually open here. .

Just in time for the talking heads at CNBC to start with their usual "Sell in May and Go Away" bullshit. Every year they drag that old chestnut out and beat it to death for a month.

I wouldnt worry about it because we're already beating the war drums with Iran.

It's a buying opportunity

Future for this coming Monday!!! OMG!!!

President Trump sets great store by the stock market index, so he will take the necessary steps to get it back to record territory. He brought it back from the last dip and will do so again.

From Reagan to Trump: Here's how stocks performed under each president

Clinton and Obama ( who had the the longest bull market in American history) had the best track record.

My partners meager, yet still nice to have, 401k plan just jumped 10k in a statement period, earning 14%. He is 66, and about to retire. I worry that he has all his money in volatile stocks. I recommended he changed to more stable choice, but he is reluctant. Anyone with advice? (Like ya'll don't .. )

Some DL lunatic queens seem to actually hate Drumpf enough to support China, a country which put it's citizens in camps and despises LGBT with a passion that even repubs can't match, what a time to be alive.

You just know that trump makes a bundle each time he farts and the market yoyos.

R5 Thank you for saying this. It is is so true. I'm not talking about China, specifically, but it seems like there are no predictable indicators for the average investor to assess, anymore. The market is so often counter-intuitive and there are so many unseen, unpredictable and manipulated variables that one can either panic each day over every news item or one can ignore the static and have stupidly blind faith that the powers-that-be have more to lose than I do by fucking things up and that my retirement will not coincide with a recession.

I'm so sick of seeing what should be good news being reflected as a drop in stock price. The reason given is usually that one out of a number of variables performed not quite as well as analysts had anticipated, but it's all bullshit. The market is elaborate, sanctioned gambling.

Dow may fall as China might back out of next round of trade talks.

R17 He should move at least 75% of his 401k to low risk options. If the market tanks he will not have the luxury of several years to make up the losses.

R6 is obviously the OP trying to maintain the attention IT so desperately wants.

Also, R6 is a waste of oxygen and serves no purpose in life.

And yes, this is just another "The Sky is Falling!!!" thread started by a very lonely, pathetic, useless person.

The fundamentals of the US economy are strong. The Dow would be at 30,000 without Dump’s fuckery. Just imagine where your 401Ks would be then. Can’t wait to elect a Democratic President. The market always booms...

Not the worst drop ever.

I wonder if all these companies moving out of China also has to do with the IP theft that's been happening.

Oh I wish I had money to pick up some bargains.

FUCK CHINA!

Fuck it right in its pasty, pancake ass!

Wow. This tit for tat is more gripping than Game of Thrones!

It's last December all over again.. dammit!

r27 Erm, this is literally all Trump's doing.

R17 If he needs money for the next 2-3 years open a Federal Money Market Fund inside the 401K and transfer in enough to cover expenses for that time period. He will have sheltered that amount from market fluctuations and since it is still in the 401K it is not considered a withdrawal and he won't have to pay taxes until he actually makes a withdrawal. I've done this for my 401Ks and Roth IRAs.

historically since 1960 the DJIA has fared better under a democratic white house versus republican by 1/2 a percentage point growth annually. (.5) I guarantee you you can tell that to any republican and they wont believe you.

I'm so worried, eldergays!

Matthew Yglesias:

Watch your wallet in US-China trade talks because while some of the US government’s demands are reasonable some of them amount to asking China to make itself an even more attractive destination for offshoring of jobs.

[quote]Some DL lunatic queens seem to actually hate Drumpf enough to support China

And yet you can't find a single person here who is saying anything like that. Tell me, does making shit up work on the other sites you frequent or do you just play those silly games here on DL?

[quote]He is 66, and about to retire. I worry that he has all his money in volatile stocks

Unless he's got so much money that he can ride out a 20-30% stock market correction without any problem, you're right to worry. At his age, half or more of his investments should be in safer territory: bond funds, money market funds, CDs, etc. Those will bring in less money in the form of growth and dividends but they will also lose less, or not at all, during a downturn.

You need both for a successful retirement: the safe and stable base plus the more volatile investments riding on top of that base.

We, Trump haters, are really worried about the world economy, more or less.

[quote]But it may not even be the tariffs themselves that could have the greatest effect. If a tit-for-tat arises once again between the U.S. and China, spurring a full-blown trade war, it wouldn’t just be a handful of industries and some consumers that are debilitated: the IMF has warned that it could weaken the entire global economy.

Thank you, Mr. President!

'THEY BROKE THE DEAL' Donald Trump wiped nearly $1.5 TRILLION off global markets in a single tweet after threatening to double China trade tariffs

R18: Nice try douche, we're not supporting Trump here. The issue is OUR economy not the worthless Chinese state. Do keep up.

It's a great time to buy

Mother's Day and Father's Day this year will be more expensive then. Oh dear.

President Donald Trump raised the stakes in his trade conflict with China as the U.S. increased tariffs on $200 billion in Chinese goods.

China's Commerce Ministry said immediately after the midnight ET deadline for the tariff hike that it would take countermeasures against the American move. It did not announce what its response would entail, but said it "deeply regrets" the turn of events.

Oh boy...

[quote]Ahead of the tariff increase, the president called duties an "excellent" alternative to a trade deal, saying they brought in "billions" for the U.S. government.

Yes, but paid by US citizens, not China, you ignorant shitstain. Why do the Republicans not have a problem with these duties that are basically additional taxes under another name?

And some ignorant people will say tariffs on Chinese goods will make consumers turn to goods from other countries instead. Do they think it's easy to manufacture and re-stock goods in humongous quantities for thousands or millions of customers who hold off from buying Chinese goods?

R44 it won’t be easy but corporations will crunch the numbers and make a decision based on the bottom line. Companies are already looking to places like Vietnam to move their manufacturing. Those jobs aren’t coming back.

^ but I totally agree with the article you cite in the NYT. The consumers are the ones getting hit by Dump’s idiocy.

Kudos to Trump , it was about fucking time and the rest of the world should do the same. Enough with this " let China be the world's factory" bullshit

Nobody was calling for that "bullshit," r47. We're simply pointing out that Trump is being a fucking idiot and that he has no Plan B when China doesn't cave in to his demands. And also pointing out the harm he's doing to our economy and to those who will have to pay the higher prices he's just inflicted on all of us.

Thank you, President Trump for costing the lower and middle classes lot of money, for driving farmers out of business, and for damaging our economy!!!

How could you give kudos to that turd geezer when he gives away billions of dollars to the 1% and then he taxes the middle class with tariffs on Chinese goods? What a moronic way to applaud a turd!!!

Trump on Coming Debt Crisis: ‘I Won’t Be Here’ When It Blows Up

R17, someone that close to retirement should never have that much invested in stock. Move most of it to low-risk bonds ASAP.

Who will fold first: obese Trump voters or China?

China’s tariff increases on Monday included raising the tariff on liquefied natural gas imports from the United States to 25 percent from 10 percent. That will hurt Texas, Oklahoma and Louisiana, three states with a lot of Trump supporters.

China is in a better position because their tariffs are mostly directed at hurting American commodity exporters while their importers can switch to another international source. American tariffs are more complicated because they are hurting American companies who use China as a manufacturing base more directly than China itself.

Manufacturers are starting to move to other countries like Vietnam, r54.

R55 What they don't tell you is it's Chinese subcontractors who are moving their factories to Vietnam.

The US manufacturers try to make India the next big thing for them, but they will soon find out that India is even shittier than China.

It's still going to hurt China, r56, as factories in Vietnam will not be employing Chinese workers and the economic benefits that come with employment will go to Vietnam and not China.

R56 And what's more comical is the tariffs can help China, since it is in Chinese national interest to offshore the "dirty" low wage industry out of China and for Chinese to move up into it own branding and high-end manufacturing.

Didn't work in the Rust Belt, r59. Factory workers aren't highly educated and there's a lot of them in China.

Didn't Trump and Scott Walker just tell a flat out lie to mislead Wisconsin taxpayers regarding Taiwanese Foxconn's investment?

Inside Wisconsin’s Disastrous $4.5 Billion Deal With Foxconn

A huge tax break was supposed to create a manufacturing paradise, but interviews with 49 people familiar with the project depict a chaotic operation unlikely to ever employ 13,000 workers.

R60 The domestic service industry has been growing rapidly in China. People have been leaving factory jobs for them over the years to the point they couldn't recruit enough workers without increasing wages, which is another reason for the low end factories to go off shore to South East Asia.

The only solace I have is that trump-voting counties are being hurt the most

Some people's perception of China is still stuck in the 90's. Maybe Trump's quixotic trade war will wake them up. The competition with China is real but it has little to nothing to do with trade deficit.

It doesn't MATTER, OP! Just look at the STOCK-INDEX and stop asking STUPID questions!

The Dow is IRRELEVANT, it's falling by the WAYSIDE! In a BEAR Market, there's always going to be NAZDAQ Trading! The SEC can kiss my BALLBAG!

The only way to make this work is INSIDER Trading - I've said this MANY times! I don't believe in BlueChip stock, sell EVERYTHING! At a DOLLAR-FIFTY! Purchase, and then SELL LOW! Get involved with COMMODITIES, Gentlemen! Do I HAVE your understanding on this?

Again, r62, your post just reinforces the parallels to the Rust Belt as the US moved to services. Regardless, manufacturing and their economy is still being hurt.

The EU has the same issues with China as we do. Instead of alienating the EU, Trump should have teamed up with them. Pressure from both the EU and US would have ended this much sooner.

R66 Except China is nothing like the Rust Belt...It's like saying a whale is like a mouse.

It's the same in as much as you will have a very large number of people of limited skills who ned employment in a changing economy. Economic basics are universal.

R68 - you must have never seen Chinese workforce these days, have you?

[quote]The SEC can kiss my BALLBAG!

Pics please.

I have r69. I take it you haven't cracked open an economic text book.

The old coot who says that the Chinese economy and the Rust Bel economy are the same is just old and retarded, and his economy textbook needs to be updated from the Nixon era to the 2019 version.

It's unlikely that a service sector expansion would sufficiently mitigate the consequent deflationary pressures, and stimuli delivered by the Chinese government will likely be inefficient and result in resource misallocation.

R15, I promise you that I mean absolutely no disrespect, but I want to share something with you, because perhaps you don’t know.

President Trump isn’t doing ANYTHING to bring back the index to acceptable margins. The man has NO DETAILED, EDUCATED, COMPREHENSIVE UNDERSTANDING OF DOMESTIC OR FOREIGN TRADE, FINANCE, OR POLICY. The market self corrects, always, and quickly, UNLESS WE HAVE MARKET/ BANK COLLAPSES. Then, it takes work and time, to get back on track.

R15, do you understand that most of us Democrats and progressives never really gave a shit about Donald Trump, and actually didn’t really mind him? Even the ones from NY, who have been consistently exposed to local media reports about Trump’s colossal business failures.

He is not a business man. He is a man who was smart enough to surround himself with persons who were heavily involved in mob activities, and made almost all of his money post inheritance, via scamming, stealing, and deceiving hardworking Americans out of their hard earned savings and investments. He further made money by actively engaging in money laundering practices for the Italian mob in NY and NJ, by buying and purposefully bankrupting casinos, before he decided to expand his money laundering services to foreign governments and despots.

He has become a wealthy man via literal blood money, and on the backs of people who did stupid shit like enrolling in his 30K Trump University coursework, because they genuinely wanted to better themselves, and spent their lifesavings, because they believed that it was a decent risk. Not one of this students got all of their monies back. Imagine paying $30K for a course that you later learn to be worthless, and only get back $15K to $20K after Trump University settles. THIS IS AN ACTUAL BUSINESS MODEL FOR DONALD TRUMP’S COMPANIES, NOT AN EXCEPTION !!!!

You are welcomed to believe whatever it is that you want, but I authentically and with humility, ask you to PLEASE: EITHER STOP PRETENDING THAT DONALD TRUMP IS A SUCCESSFUL, ETHICAL BUSINESSMAN, WHO HAS THEREFORE BENEFITED AMERICA, or PLEASE, Please do the research, and dig in deep. Find out what he did in the 60s, 70s, 80s, 90s, and 00s in order to make money.

R15, I promise you, DJT does not have ANYTHING to do with the market growth he inherited from President Barack Obama, and he is a bonafide crook, who buys off and extorts, others in order to stay out of jail or escape scrutiny, just like the mob, Roy Cohn, and his father taught him to do.

He is a lazy, irrational man, who is driven by fear, revenge, and greed. He is a smart enough man to know that he is not educated well enough to NOT surround himself with very well educated people who are willing to break the law or operate right on the edges of it.

I truly despair when I read the stuff that people like R15 write. I fear that they’re either extremely naive, or know that Trump is a complete fraud, yet adamantly continue supporting him because they cannot admit how they became enraged over a black man becoming POTUS, because deep down inside, it made them feel like failures. Even though that black man studied his ass off and worked harder than Trump has ever done, in order to get to where he got.

Stop allowing your biases to direct your reality. Your investment portfolio has dropped significantly as of 12:56 pm, today, unless you reallocated before Friday’s market close.

DOW DROPS 700 POINTS AS CHINA TRADE WAR ESCALATES

Excellent R74!

And poor ordinary people are just lazy and ne'er-do-well, while hard-hit farmers deserve federal handouts!!! Oh humanity.

To curb the effect of Beijing’s retaliatory duties, Trump on Monday said farmers would receive about $15 billion dollars in aid.

Talking the economy is the Republicans specialty.

Tanking ^

R74 is my clear eyed hero

Doesn't China have a lot of US debt? How might they use that as leverage?

R77, he is offering the 15B as a land grab. He is specifically asking to buy the farm, as they say.

Republican shill Frank Luntz uncharacteristically (and tersely) reacts to Trump's a.m. claim that the U.S. steel industry is "booming":

U.S. Steel stock prices: 📉

• May 18, 2018: $36.46

• May 14, 2019: $15.13F

U.S. Steel is probably not the best example. They had a big and costly fire at one of their plants back in December. There are now pollution issues with the plant and lots of fines.

[post redacted because linking to dailymail.co.uk clearly indicates that the poster is either a troll or an idiot (probably both, honestly.) Our advice is that you just ignore this poster but whatever you do, don't click on any link to this putrid rag.]

Im sure his base is gonna love paying more at Walmart.

It's the same reason he doubles down on the racism. His base (you too Datalounge) loves it.

'Don't say we didn't warn you': A phrase from China signals the trade war could get even worse:

The Chinese are in no way fucking around. Look for Bolton to be discovered face down in the Reflecting Pool. "We don't know how many hours he was down there, but there was some discoloration to the moustache"

If only, r89.

Welp, the stupid deplorables begged for it. Let them take a kick in the teeth. Maybe that will shut them up for a while.

I told you we were hardcore.

China's holding back rare earth minerals is their, ahem, trump card.

Here's the thing about China that most people don't get. Their society thinks as a collective group whereas in this country we put the individual above all else. They will suffer for the greater good. We Americans do not think like that as it is , in fact, unamerican. They have a history that goes back 5000 years so they think long term and by long term I don't mean 5-10 years. This war with Trump is just a bump in the road. They can wait and wait and wait. They have the benefit of a centralized govt. there's no red tape so they can shift and pivot much easier than we can. They are in for the long haul. They have amassed enough wealth and power to ride out Trumps lunacy even if he get re-elected.

R93, but Republicans think like a collective... when it suits their selfish nature. Look at all of those fucking farmers with their hands out now for all of that $ociali$m.

Handouts to poor people on the street = authoritarian socialism Handouts to rich farmers and billionaires = capitalist democracy

Must be new kinds of economic systems dreamed up by the Repugs.

And now this: U.S.-EU Trade Talks Stumble, Threatening New Trade War Front. America has now become a completely autistic country of the world; can't talk, trade, nor live with other countries peacefully and interdependently any longer. The insanity and stupidity have filtered down from the president to most of the people. No more diplomacy, now it's just bullying.

Tariffs would “rebound very painfully on American workers and the American economy as much as the European economy,’’ Conley said. “It’s a choice. But it certainly could be a painful one.’’

The Art of the Deal? My ass!

Here’s the damage done to the stock market since tRump’s May 5 trade tweet:

I recently listened to an episode of the Planet Money podcast where the hosts interviewed American farmers hurt by the trade tariffs. They were have a pretty awful year.

BUT...they still supported Trump and his tariff plan because they felt it was "the right thing to do."

The problem with the tariffs is that, as Chinese goods get pricier, American companies are just raising their own prices to match.

This way, the consumer has no choice in pricing and American companies have bigger profits.

Of course they still support him. He's their last hope to put "those people" in their place. Financial ruin and their destroyed lives are a small price to pay as long as they don't lose their place in the social pecking order.

Isn't this what Trump and Bannon's platform was from the beginning? American isolation? Ending treaties, telling the Untied Nations to go fuck themselves, we can do it on our own.

My question is, billionaires like Mercer who helped buy Trump into the White House, is this what they were counting on? Do they want this?

[quote]because they felt it was "the right thing to do."

Did the interviewer follow through with a question: "Right in which way, sir?" It would be a lame and inept Q&A if the interviewer left it at that point.

The Trade War’s Next Battle Could Be China’s Access to Wall Street

Chinese entities, mainly the country’s central bank and sovereign wealth fund, own at least $200 billion in shares in the United States, by one estimate, giving Beijing a possible additional weapon should Chinese leaders decide to sell. China’s economic policymakers are aware of that extreme option, people familiar with the policymaking said. They insisted on anonymity because of the political and diplomatic sensitivity of the issue.

Such a move could shake the American stock market, which Mr. Trump considers a barometer of his success. For many years, policymakers, economists and bankers have asked what might happen to the American economy should China suddenly dump much of the $1.3 trillion it holds in United States debt.

Selling stocks could be more potent than paring back bonds. Stock markets tend to respond to smaller sums of money than American government bonds do because the market for Treasury bills is simply so big.

Asia has little patience for American arrogance.

Economic strategies of the US these days: tariffs and sanctions. You try to gain on our market shares - sanction, bitch! You don't kowtow to our demands - tariff, bitch! And please don't act so surprised if nobody, I mean nobody, wants to trade with the US anymore. Yes, America First and America Alone!

Trump's Mexico Tariffs Are Borderline Crazy

Rather than provide consistent policy which allows foreign governments and businesses across the world to calibrate their decisions to the prevailing environment, this whipsaw diplomacy weakens America’s ties with its allies and causes capital to hunker down and wait for more predictable times. Forecast new orders in March fell to their lowest level since 2012, in a survey of U.S. businesses by the Federal Reserve Bank of Philadelphia. Capital-spending plans have fallen sharply from their peaks when President Trump took office, despite robust corporate profits.

Beyond the obvious economic damage, the move would threaten the U.S.’s stature as a diplomatic partner globally.

Thank you the Turd for tanking the economy for Russia!

Stock index futures tanked on Friday morning, as investors feared President Donald Trump’s surprise threat of tariffs on all Mexico imports, amid a worsening trade war with China, could risk sending the U.S. economy into a recession.

The following was said upthread. Where is this poster now?

[Quote]The sky is falling! THE SKY IS FALLING! Are you the same amateurs who started those threads a few months ago when the Dow dipped for a day or two?

Surprise Mexican tariffs hurt China agreement chances: 'How can you trust Trump to honor a deal?'

Dump, you are a disaster!

Fuck the Turd! Impeach him now!

President Trump’s trade battles are costing the U.S. stock market $5 trillion and counting, according to Deutsche Bank.

Given the bulk of equity returns come from equity price appreciation, in an escalated trade war with China and now Mexico, the U.S. is losing trillions of dollars in foregone returns as markets sink on the negative headlines, the bank said Friday.

His retards don't GAF about the stock market. Most of them don't have a pot to piss in.

Those drooling idiots cheer when the market tanks because they see 'the elites' as getting hit the hardest.

They're too stupid to realize that cops, teachers and others who still have pensions invest in stocks. Or that no money in the market means no jobs.

Until they start feeling it, they think it just affects others. And when it hits them, they holler.

And the Dow did plummet 300 points!

That fugly repulsive bald Stephen Miller did it again. Yet some self-deluding analysts tried to comfort themselves that it was Trump's strategy to force the Fed's hand to the rate cut. Fucking delusional!

The tariff was pushed by advisor Stephen Miller, an immigration hawk, according to the source close to the White House.

“So this is no more about free and fair trade, reciprocity, and protection of technological expertise. Tariffs can be thrown around as an economic bomb for anything now. Global growth rates will only continue to suffer,” said Peter Boockvar, chief investment strategist at Bleakley Advisory Group.

“His irrational action, what if it isn’t so irrational? What if he’s trying to break the Fed to get his rate cut and get a deal on trade,” Paulsen said. “I’m not saying I agree with it, but that’s the type of scenarios that have to be in an investor’s head.”

R110, 300 points on a market that's 25,000 isn't a plummet.

Oh stocks plummet 350 points on a 24800-point market! So plummeting!

President Trump is upending the United States economy, and perhaps jeopardizing his re-election prospects, with an abrupt escalation of protectionist trade policies.

Mr. Trump announced on Thursday that he would soon impose a 5 percent tariff on imports from Mexico, which could quickly grow to 25 percent, unless Mexican officials stop the flow of immigrants across America’s southern border.

The Dow Jones dropped over 1,600 points in the last month thanks to Trump's antics.

Anyone else figure that Tramp cronies get advance notice of his pronouncements, so they can invest accordingly?

I hate this. Amazon is increasing prices on shit I've had in my shopping cart for a while.

[quote]His retards don't GAF about the stock market. Most of them don't have a pot to piss in.

Yes, but it might piss off the media bigwigs who control the feeble minds of the trumpsters.

Wow! They've been fucking with the Internet all weekend, just ahead on Monday morning jitters tomorrow.

I bought some bird food yesterday on Amazon. I bought it in April for $9. I paid $17 for it yesterday. I ordered Target's version of lamasil online for $7 but it hadn't come yer so I want to CVS and they wanted $15 bucks for it. I looked online and found a coupon I could use at rite aiid a block over. It was $13 and I got 30% off. But it's absolutely crazy what's happening; prices are soaring

I think ALL RETAILERS are jacking up prices and blaming it on tariffs that don't exist on most products. My husband said the fed needs to raise interest rates but the fed chair is afraid of Trump

The year 20202 can't come too soon.

Morgan Stanley Sees Recession Within a Year If Trade War Gets Any Worse

Investors may still be underestimating the full risk to the global economy from a trade war, even after U.S. stocks capped the worst month of the year.

A recession could begin in as soon as nine months if President Donald Trump pushes to impose 25% tariffs on an additional $300 billion of Chinese exports and China retaliates with its own countermeasures, according to Chetan Ahya, chief economist and global head of economics at Morgan Stanley.

Stop buying shit and let it collapse.

$4 now. Was $3.50.

No one is safe from the Turd's maelstrom of madness anymore. It was mad by just considering it in the first place.

Trump Administration Considered Tariffs on Australia

The Trump administration considered imposing tariffs on imports from Australia last week, but decided against the move amid fierce opposition from military officials and the State Department, according to several people familiar with the discussions.

Some of President Trump’s top trade advisers had urged the tariffs as a response to a surge of Australian aluminum flowing onto the American market over the past year. But officials at the Defense and State Departments told Mr. Trump the move would alienate a top ally and could come at significant cost to the United States.

Now the Turd in Chief is picking a fight with India; The US will be removing zero-duty access (GSP) for $6.3 billion of Indian goods. Now half of the world population is the enemies of America, either in trade wars or in military conflicts. Satisfied, MAGA bitches? And please stop complaining when you travel to some foreign countries and the locals don't welcome you cordially.

Trump’s India Trade Threat Demands Cool Heads

The U.S. has a history of wielding the GSP privilege as a stick, as I wrote in March when the tariff action against India was first announced, most famously using it to effect regime change in Chile in the 1980s. In India’s case, Washington’s goals could range from arm-twisting New Delhi to stay away from Iranian crude oil to pressuring it to tone down the growing rhetoric – and regulatory action – around data sovereignty. The Trump administration will be loath to see India mimicking China’s strategy of building its own e-commerce, search and fintech champions, keeping out Amazon.com Inc., Google and Paypal Holdings Inc.

Just wow. A US president attacks a big US company, calling for a boycott.

President Donald Trump on Monday called for a boycott of AT&T to force “big changes” at subsidiary CNN, which Trump often accuses of biased and negative coverage of his administration.

R125 Dump really puts the 'dick' in 'dictator', doesn't he?

I wasn't aware that President Dump could legally do such things. Add it to the already very long list.

[quote]the fed chair is afraid of Trump

Why would he be afraid, is Trump gonna chop off his head for real?

There are cushy jobs outside the Fed he'll land one in no time.

[quote]Just wow. A US president attacks a big US company, calling for a boycott.

Can you imagine the controversy if Obama had called for a boycott of News Corp. because of Fox News' treatment of him? The New York Times would be calling for his impeachment and removal from office.

That or they would have straight-jacketed and dumped him in a cell under military guard, while Biden was sworn in as his replacement, r128.

Now is the time for prayer.

Thought and prayers, oh dear Lord.

Dow drops 100 points, Nasdaq enters correction territory as regulation fears batter big tech stocks

The Nasdaq Composite dropped 1.9% to enter correction territory, trading more than 10% below its record high set in late April. The Dow Jones Industrial Average declined by 100 points, while the S&P 500 slid 0.6%.

I ran the numbers today for my own investments in the market last month, roughly 60% stocks and 40% bonds. I'm down $80,000 for the month of May. Thanks, Trump!

What gets me is that he keeps wanting to expand the pain: initiating trade wars with more and more countries, including Mexico (before the NAFTA update is even signed off), India, Australia, Turkey, various European countries, Japan, South Korea.

It's the only tool in his arsenal that's fully under his control and he doesn't have any idea what he's doing, so he lashes out with new tariffs on a regular basis. This will have long-term impacts, as well, as why would any country want to get involved in a trade compact with us knowing that the next Trump will just ignore it and fuck them over?

MAGAts don't travel, r124.

They stay in their backwards hollers and shitholes because traveling means running into "furrinurs" who don't speak "murikan"!

Another day, another trade war. Now the US is up against the largest democracy in the world. I condole US consumers and farmers. Thank you the Turd for the nonstop destruction of the world economy!!!

India to impose retaliatory tariffs on 28 U.S. goods from Sunday

From June 5, President Trump scrapped trade privileges under the Generalized System of Preferences (GSP) for India, the biggest beneficiary of a scheme that allowed duty-free exports of up to $5.6 billion.

India termed that “unfortunate” and vowed to uphold its national interests.

Higher duties have been proposed on apples, walnuts, chickpeas, lentils, boric acid and diagnostic reagents. The move, which was triggered by the US announcing higher tariffs on Indian steel and aluminium last year, was deferred multiple times in view of the trade dialogue between the two countries.

Hong Kong citizens know how to protest...something we need to take notes on.

Hong Kong is as big as LA, it's easy to shut it down. I don't think you can do the same even to a small state like RI, can you?

Catastrophic, Cataclysmic: Trump’s Tariff Threat Has Retailers Sounding Alarm

Already battered by the e-commerce revolution, traditional retail stores are bracing for another blow — new tariffs on $300 billion worth of Chinese imports that the Trump administration is threatening to impose.

Retailers and analysts warn the impact will be disastrous for an industry already tormented by vacant storefronts and deserted malls. The reason: Unlike earlier tariffs that mostly targeted industrial and commercial products, the next round is aimed squarely at consumer goods like footwear, toys and apparel.

Even for healthy chains, like Walmart and Costco, the new duties threaten the business formula that helped speed their rapid rise over the last few decades: Import cheap products from Asia and sell them at rock-bottom prices. The National Retail Federation estimates that China supplies 42 percent of all apparel, 73 percent of household appliances and 88 percent of toys sold in the United States.

This is just one more good reason why trade wars are not easy to win. --- Peterson Institute for International Economics

China rolls out the red carpet for other countries as it ups tariffs on US goods

China’s move to lower tariffs on countries other than the U.S. has received little public attention, with much media coverage focusing on what Beijing and Washington say and do to each other.

But in fact, by lowering duties with other trading partners, Beijing has put American firms at a “considerable” disadvantage at a time when U.S. President Donald Trump has repeatedly used tariffs as a way to negotiate with other countries, PIIE said.

This doesn't affect me. May I go now?

Dow 5pm close today 26,504.00

Trump has taken business bankruptcies six times already. And the seventh time will be his most bigly disastrous flop!

Dow falls 160 points on trade war fears, uncertainty about Fed's next move

The move breaks a truce in the long-running trade war between the world’s two largest economies, with investors fearful it could further disrupt global supply chains.

China’s foreign ministry pushed back against Trump’s latest tariff threat on Friday morning, reportedly saying the world’s largest economy should give up its illusions, shoulder some responsibility and come back to the right track on resolving the trade war.

China’s spokesperson at the foreign ministry, Hua Chunying, said at a daily press briefing that Beijing would have to take countermeasures if the U.S. was committed to putting more tariffs on Chinese goods, Reuters reported.

Trumpism in a nutshell:

This is just ridiculous. With our economic fundamentals (I’m not referring to the middle class screwing, just the fundamentals of the Dow), we should be at 30K. The tariffs are why we’re not.

Funny how the Repugs take credit for stock market rises, but quickly obfuscate when it falls.

I hope China lowers some tariffs on Canadian and EU products in return, just as it has done in the past. Giving the competition in other countries an edge is way more effective than just raising your own tariffs. Maine's lobster industry has been devastated and the Canadian one is now thriving. Teach the turd a hard lesson.

R142, yup

It's getting scarier and scarier by the minute!

(Reuters) - U.S. stock indexes fell at open on Friday, weighed by tariff-sensitive technology stocks following a sharp escalation in U.S.-China trade tensions, while a tepid domestic jobs growth in July reinforced fears of an economic slowdown.

And it will jump 600 points next week. Who gives a shit?

fThe Federal Reserve Bank lowers it's interest rates when there is no recession or notable inflation is the height of irresponsible policy. The cut from 2.50 to 2.25 will give little wiggle room when there is a significant downturn in the economy. It's like eating your food reserves so that when there is a significant event and you have to rely on your stored food you will have little to none. Thinking very short term to boost Trump's failing economic agenda, particularly regarding his nonsensical tariffs. The Fed chair is supposed to be apolitical and decide based on the economy and do do what the president wants, especially when the president is a fucking moron.

And the Dow is down by a lot today despite the lower interest rate.

The interest rate thing is so pathetic.

Dow sinks, markets tank all over the world, all kudos to the genius of the Turd in the White House.

Wall Street sinks as yuan slide intensifies trade angst, Dow loses 700 points

The Dow Jones Industrial Average tumbled more than 700 points in a global selloff on Monday, triggered by China’s willingness to let the yuan slide in response to the latest U.S. threats on trade.

The yuan sank to its lowest level in more than a decade, and President Donald Trump slammed it as “a major violation”, sending investors scurrying for the safety of assets such as government bonds, gold and the Japanese yen.

Adding to the tensions, China’s Commerce Ministry said that Chinese companies have stopped buying U.S. agricultural products, and that China will not rule out imposing import tariffs on U.S. farm products that were bought after Aug. 3.

I wonder if Trump will Wreck things, then make nice, just before the election.

It's not going to be so easy to repair the things he's broken, R153.

MAGA

Anyone want to buy my cap?

$766 billion divided by 320 million Americans is about $2,400.00 per person or $12,000 for a family of five.

Most folks can afford a $600.00 loss.

More Trump winning!

R156 here. Line 2 should read =

"Most folks CAN"T afford a $600.00 loss."

But we need a $200 billion wall, R157.

U.S. Stocks Slump as Bond Surge Warns of Recession: Markets Wrap

U.S. equities slumped and bonds rallied globally after a series of dovish central-bank surprises underscored growing concern over the outlook for growth.

The S&P 500 Index lost more than 1% in heavy trading volume as the 30-year Treasury yield closed in on an all-time low. German rates dropped to a record as industrial production registered the biggest decline in almost a decade. Currency markets were volatile after policy makers cut rates in New Zealand, India and Thailand.

Traders are selling riskier assets after this week saw the biggest one-day plunge in global equities since February 2018, fearing an escalation in the trade war will spur a global recession. Threats of expanded tariffs are also creating uncertainty in corporate boardrooms, spurring concern there will be a pullback in capital outlays and a drop in company earnings with central banks lacking the firepower to buoy growth.

QAnon obese cunts anguish as Dow plummets more than 700 points!!! Recession on Trump's watch couldn't have come soon enough. The obese, odious, hideous Turd has succeeded in destroying the world economy. Now Germany, the UK, Australia are going into recession soon. SAD!!!!

U.S. stocks plummeted Wednesday after the inverted yield curve, one of the most reliable indicators of a recession, sparked a new wave of investor fears.

For the first time since 2007, the yields on short-term U.S. bonds eclipsed those of long-term bonds. This phenomenon, which suggests investors’ faith in the economy is faltering, has preceded every recession in the past 50 years. It isn’t a sure thing, but it’s one of the more reliable signs that something is amiss in the economy. Recessions typically come within 18 to 24 months after an extended yield curve inversion, according to research from Credit Suisse.

The warning sign dealt another blow to markets with the Dow Jones industrial average falling more than 650 points by noon. The Standard & Poor’s 500-stock index was down about 2.5 percent, and the tech-heavy Nasdaq composite index was down about 2.9 percent. Ten of the 11 market sectors were in the loss column Wednesday, with energy, consumer staples and financial services leading the way.

U.S. stocks plummeted Wednesday after the inverted yield curve, one of the most reliable indicators of a recession, sparked a new wave of investor fears.

For the first time since 2007, the yields on short-term U.S. bonds eclipsed those of long-term bonds. This phenomenon, which suggests investors’ faith in the economy is faltering, has preceded every recession in the past 50 years. It isn’t a sure thing, but it’s one of the more reliable signs that something is amiss in the economy. Recessions typically come within 18 to 24 months after an extended yield curve inversion, according to research from Credit Suisse.

The warning sign dealt another blow to markets with the Dow Jones industrial average falling more than 650 points by noon. The Standard & Poor’s 500-stock index was down about 2.5 percent, and the tech-heavy Nasdaq composite index was down about 2.9 percent. Ten of the 11 market sectors were in the loss column Wednesday, with energy, consumer staples and financial services leading the way.

Points.

Didn't we go through the same OH MY GOD THE MARKET IS PLUMMETING shit late last year and four months later it was making record highs again?

r162 No, what r160 posted has happened for the first time since 2007.

So what? When it's plummeting, it's plummeting, unlike your weight that will always shoot up until death.

Okay... that's a sound economic argument if I ever heard one.

Actually, r163 we have been here before. Ops post is from May and I recall the yield curve inversion featuring prominently on late last year's **Breaking News** The Dow Just _________! threads.

[quote]For the first time since 2007, the yields on short-term U.S. bonds eclipsed those of long-term bonds.

Your "actually" is with WaPo, not with me, dear.

It has nothing to do with China, it is just a normal mini-correctia.

Now Trump's economic syphilis has infected Singapore, now it's tipped to enter recession in the third quarter of 2019. The Pornstar President has struck shit again!!! SAD!!!

Singapore economy tipped for recession as US-China trade war slams imports, exports, manufacturing

“Singapore is a bellwether for the global trade slowdown,” said Carlos Casanova, Asia-Pacific economist at insurance company Coface. “With everything that we are seeing, it is quite possible that there will be a recession in the third quarter of the year.”

Should Singapore’s quarterly growth remain negative in the third quarter of the year, it would mean the city state has entered a technical recession – a scenario which other data suggests is looking increasingly likely. Singapore is described as “the canary in the coal mine” for the Asian and global economies. It is heavily trade-dependent, second only to Luxembourg in trade-to-GDP terms, and is usually seen as a leading indicator for how other nations are likely to perform.

[quote]Topic: Dow plummets as China backs out of trade talks

What else should we scream aloud if not DOW PLUMMETS!!!!!? Even Faux News couldn't resist screaming aloud "DOW PLUMMETS!!!! with us"

Dow plummets more than 700 points on recession fears

There are global market concerns as the German economy shrank by 0.1 percent in the second quarter from the previous three-month period as global trade conflicts and troubles in the auto industry weighed on Europe's largest economy.

The major European markets ended the day drastically lower with the German Dax and French CAC losing more than 2 percent each.

The news was similar in Asia as China's factory output, retail spending and investment weakened in July, suggesting the world's second-largest economy faces downward pressure on growth.

China's factory output rose 4.8 percent over a year earlier, a marked decline from June's 6.3 percent. Retail sales growth slowed to 7.6 percent from the previous month's 9.8 percent.

No, r167, my "actually" is squarely on you. I posted that we've been here before with the OH MY GOD THE MARKET IS PLUMMETING and you responded with "no" and pointed me to a post about an inverted yield curve.

Regardless of the reasons, we have been in OH MY GOD THE MARKET IS PLUMMETING territory several times over the past 12-months and will likely continue the pattern for as long as Trump is in office. Actually.

Fux News link:

700 points on the dow is nothing, it's only a bit more than 2%

700 points on the dow is nothing - and yet you are commenting here nonstop for nothing! LOL!

800-point drop was nothing, literally!!! LOL. Suck it, baby!!! Thank you, the Turd-in-Chief for tanking the world economy.

Dow posts biggest one-day drop since October as recession fears take hold

The Dow Jones Industrial Average fell 800.49 points, or 3.05%, to 25,479.42, the S&P 500 lost 85.72 points, or 2.93%, to 2,840.6, and the Nasdaq Composite dropped 242.42 points, or 3.02%, to 7,773.94.

Dire economic data from China and Germany suggested a faltering global economy, stricken by the increasingly belligerent U.S.-China trade war, Brexit woes and geopolitical tensions.

Germany reported a contraction in second-quarter gross domestic product, and China’s industrial growth in July hit a 17-year low.

We seem to recall that in 1987 a similar thing happened in August and it was followed in October by the biggest one day drop (25%?) in history. But it recovered to it's former level in a year/

No end in sight for this fiasco dumped on the world by the retarded Turd. He can't really be trusted in any negotiation: one day okay, the next day no-no.

China on Thursday redoubled its vow to retaliate against President Trump’s threat of more tariffs even after he said he would postpone some of them, casting a pall on markets trying to recover from a bad day on Wall Street.

The Chinese government will “have to take the necessary countermeasures” should Mr. Trump carry out his threat to impose 10 percent tariffs on an additional $300 billion worth of Chinese-made goods from Sept. 1, according to an official statement. The statement — attributed to an unidentified official from the Customs Tariff Commission of the State Council, China’s cabinet — did not specify what those countermeasures would be.

The statement also said that Mr. Trump’s threat violated the consensus he had reached with the Chinese president, Xi Jinping, at a meeting in Osaka, Japan, in June. That meeting led to a resumption of trade talks, though the two sides have remained far apart on major issues.

The statement, issued late on Thursday in China, reiterated Beijing’s previous stance. But it came days after Mr. Trump said he would hold off on some of the tariffs, a move that cheered markets hoping that the two sides could be making progress toward a deal. Subscribe to With Interest

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The Chinese statement soured investors who, until that moment, had been sending global markets moderately higher. European markets were lower midday Thursday, having opened mostly higher. Futures markets indicated that Wall Street would open lower. Asian markets, which closed before the statement was issued, ended mixed.

The threat of additional tariffs has added to fears about the global economic outlook and pushed markets lower around the world. Those fears were evident on Wednesday, after investors worried about global growth gave Wall Street one of its worst days this year. The S&P 500 index fell 2.93 percent.

Investors have other issues on their mind as well. In the United States, bond markets have begun to hint that a recession there could come soon. Markets were also hit on Wednesday by glum economic news from Germany and from China.

This is true, Erna, and in then last year the market dropped from 26k down to 21k and quickly recovered.

"Past performance does not guarantee future results."

I take it you haven't looked at a historical graph of the market, r179.

Different presidents and different advisors bring forth different outcomes. Terrifying, isn't it? The Turd must be wriggling in exasperation, seeing these horrendous market numbers all over the world.

Trump’s Re-Election Now at the Mercy of a Slowing Economy

Economists polled see 35% chance of recession within a year

Downturns have damaged past presidents seeking re-election

The growing odds of a recession before the 2020 election threaten to crush President Donald Trump’s hopes of a second term.

Though still uncertain, such a scenario would be a political gift to Democrats, who have avoided talking about the nearly full employment, record stocks and low inflation so far in the Trump presidency.

Instead, the candidates have highlighted rising income inequality and untenable costs of health care and college to argue that the working class isn’t feeling the boom.

But this week, fears of a broader downturn arose. The S&P 500 sank almost 3% on Wednesday and the Dow Jones Industrial Average plunged 800 points in its worst rout of the year, sparked when the 10-year Treasury rate slid below the two-year for the first time since 2007, a harbinger of a possible downturn.

The economy tanking will take finish off Trump's reelection chances. It might be the only thing, but it will. A hell of a thing to hope for, but that's what this country has done to itself. Fucking MAGA idiots.

Trump has nothing to do with it.

But his masters -aka the usury banking criminals who own the NY Federal Reserve Bank - have everything to do with it.

Being a shitty negotiator and an all-round idiot has everything to do with dragging the economy down. He was a failed, bankrupt "businessman" over and over.

Oh, Erna the old fat troll. We all know you're old, fat and demented, but there's no need to show it every minute here. Take your meds and lie down, bitch troll.

Trump’s Trade War Could Make the Trump Recession a Reality

Economic forecasting is a bit of a mug’s game. Mature capitalist economies tend to plod along, growing at modest rates, until they don’t. Despite extensive efforts, nobody has discovered a reliable way to predict when that moment will arrive and, subsequently, a recession will begin. Sometimes there are warning signs, such as asset-market bubbles developing, inflation picking up, the Fed raising interest rates, and trade deficits soaring. But, even if some of these signs are flashing amber, as they were in the late nineteen-nineties and the period between 2005 and 2007, it’s hard to know when they are going to turn red. The lesson of recent U.S. history is that expansions tend to last longer than many people expect.

It would be a mistake, therefore, to get too alarmed—or too excited, depending on your politics—about the big fall in the U.S. stock market on Wednesday. Sparked by negative news regarding the international economy and an unusual development in the bond market, the Dow Jones Industrial Average plunged eight hundred points. Despite the sell-off, most Wall Street economists still think it is unlikely that #TrumpRecession, the hashtag trending on Twitter during the Dow’s slide, will become a reality before the 2020 election. The truth is that no one can be certain of what is going to happen. What we do know for sure is that, the longer Donald Trump persists in his trade war, the greater the chances are of an outright slump developing.

That is what the financial markets are telling us: on Wednesday, ten-year Treasury bonds fell below the yield on two-year bonds, in what is known as an “inversion,” which has sometimes been the harbinger of a recession. It is also the implicit message from the Federal Reserve, which is mulling another cut in interest rates, to head off economic weakness. And it is something that at least some people around Trump have apparently acknowledged, finally. Hence the Administration’s decision, which it announced on Tuesday, to suspend its plan to expand tariffs on Chinese imports to a wide range of consumer goods, such as smartphones, toys, and video games.It has been barely two weeks since Trump announced his intention to expand the tariffs, which were set to go into effect on September 1st. The aim was to pressure China to give up ground in trade talks that had, yet again, stalled. But, in this instance, according to numerous reports, many of the President’s senior advisers, including Robert Lighthizer, the U.S. Trade Representative, and Steven Mnuchin, the Treasury Secretary, privately thought that escalation was a bad idea. Trump went ahead anyway, which was consistent with the approach he has taken all along.

How do you do, my beloved US farmers?

China Ramps Up Brazil Soybean Imports, Rebuffing U.S. Crops

Brazilian farmers this week won orders for up to 30 cargoes, leaving U.S. producers in a trade war cold.

China this week put in a large order of Brazilian soybeans as it increasingly turns to the South American nation to fill a supply gap after halting purchases from the U.S., according to people familiar with the situation.

Chinese companies have already bought between 25 to 30 cargoes of soy from Brazil so far this week, which is equivalent to about 1.5 million to 2 million tons, the people said, asking not to be identified as the deals are private. Buyers are looking for more Brazilian supply and still haven’t bought enough to cover their needs through October, the people said.

China, which stopped purchasing American soybeans as the spat with the U.S. deepens, has turned to South America instead. While Brazil has so far been able to meet China’s demands, inventories are now dwindling and Beijing is at risk of not being able to fulfill its needs.

Trump has tanked every business he was involved in he will do the same to the US economy. Fasten your seatbelts its going to be a bumpy ride, mainly downhill.