Donald Trump used the stock market meltdown on Monday to attack Kamala Harris' economic record.
  • MagicShel@programming.dev
    151·
    4 months ago

    For the past 8 years, all I’ve wanted was for Trump to shut the fuck up. And I must not be alone because he finally has and it’s made the news.

  • DancingBear@midwest.social
    915·
    4 months ago

    The wealthiest 10% of Americans own 90% of the stock market.

    There’s a supermajority of Americans who give zero fucks about the stock market

      • frezik@midwest.social
        71·
        4 months ago

        But probably nobody who has enough to quit their job right now, much less live it up.

      • Passerby6497@lemmy.worldEnglish
        3·
        4 months ago

        Those stocks are meaningless to most people for multiple decades tho, and within a decade will bounce back just like they did last time.

        Unless there’s a sustained loss or they don’t have much time till they need to start withdrawals (in which case they should have most money in bonds, not stocks according to my retirement dude), these are just bumps in the road to normal people. It’s only the wealthy whose numbers are directly related to the stock market who really cares. But they control the media, so the sky falls every time stocks have an issue.

    • aubeynarf@lemmynsfw.com
      132·
      4 months ago

      The majority of americans ( >60%) are invested in the stock market. It does matter to and affect them.

      • Honytawk@lemmy.zip
        2·
        4 months ago

        And how much did they invest?

        If it is less than 1000, they still don’t care as much either.

    • Ghostalmedia@lemmy.worldEnglish
      9·
      4 months ago

      IMHO, the jobs report and recession indicators are the bigger problem. That would have a real impact on working people.

    • jonne@infosec.pub
      3·
      4 months ago

      Eh, when the stock market does well everything stays the same, when it does badly you lose your job all of a sudden. People care about the stock market in that sense. (In addition to retirement funds and the like, sure you take the long term view on those, but the closer you get to retirement the less you want to see any kind of correction).

      • frezik@midwest.social
        5·
        4 months ago

        Stocks also pay dividends.

        The best way for most people to invest the stock portion of their portfolio is to stuff it in an SP500 index and forget about it. When you include transaction costs, it’s very hard to beat this strategy consistently, especially with comparable risk. Jumping in and out when you think it’s going to go up or down only works with extreme luck. What money you do make over staying in the market is almost always siphoned away by transaction costs.

          • frezik@midwest.social
            41·
            4 months ago

            The vast majority of companies in the SP500 pay dividends. The whole strategy of putting money in it and holding depends on dividends and long term growth.

  • JimSamtanko@lemm.ee
    561·
    4 months ago

    So…. We get news when he opens his lying mouth. And now we get news when he doesn’t? People in the future are lucky they won’t have to deal with this piece of shit.

    I envy them.

  • some_guy@lemmy.sdf.org
    36·
    4 months ago

    “This moment could set off a real economic calamity around the globe. It requires steady leadership — the kind President Trump delivered for four years.”

    Yeah, that’s what that was. Not utter chaos. No, you’re misremembering.

  • N0body@lemmy.dbzer0.comEnglish
    23·
    4 months ago

    Japan had a bad enough day that it rocked every market on the globe. But it rebounded almost instantly, and everything stabilized.

  • TheObviousSolution@lemm.ee
    22·
    4 months ago

    Kamala-hee, kamala-whoo, kamala-ho, kamala-haha!

    (To the tune of Dragostea Din Tei)

    Gotta love the positivity Kamala is bringing in, it’s hard to remain pessimist.

  • GiddyGap@lemm.ee
    22·
    4 months ago

    The Trump logic: When markets go up, it’s in anticipation of his second term. When they go down, it’s the Kamala/Biden/Democrat crash.

    This guy is out there.

  • rayyy@lemmy.world
    14·
    4 months ago

    This is a horse-shit article. Unemployment is in the economic sweet spot, between 3% - 5%. There is no sign of recession, except in DonOLD’s demented wishful thinking. Japan’s market took a tumble and repercussions influenced the market for a couple of days.

  • orcrist@lemm.ee
    3·
    4 months ago

    It’s worth pointing out when Trump is hypocritical, but remember that his supporters don’t care. He doesn’t care. We should care, but we should never expect them to.