Roughly $11.1 trillion has been wiped away from the U.S. stock market since Jan. 17, the Friday before President Donald Trump took the oath of office and began his second term, according to data from Dow Jones Market Data.
Some $6.6 trillion of that figure was lost on Thursday and Friday alone — the largest two-day wipeout of shareholder value on record, Dow Jones data showed.
Yeppp. Also makes me really distrust mainstream economists, because somehow these crashes always come as a surprise.
Like what we’re doing is not working. We need to try something else
You assume that educated people are making the final decision, when that has not been the case in at least 60 years.
Economists can scream from the roof-tops that the wealth-gap is harmful (they have), that ignoring science is regressive (they have), and that tariffs are fucking stupid (they have). But if the people in power (i.e CEO, Lobbyists, President) simply ignore them and do stupid shit anyway, it’s all pointless.
Moral of the story, this is not on the economists. This is on the stupid being in positions of power and the ignorant masses not holding them accountable.
Mainstream economists have been predicting this for nearly a year. It’s a surprise to almost no one.
Oh i guess that’s true. I’m not sure what my point was. I guess political/party economists? But maybe they’re not informed by actual economists.
It seems like there is a disconnect between what I hear politicians talking about vis what the journals say
Trump doesn’t have a team of reputable economists guiding his policies.
He’s just making decisions based on the vibe.
What tells you that this isn’t working? Seems to be working as intended. You mis-assumed that this administration gives a flying fuck about anyone worth less than $1 billion.
I meant for melol
What does this have to do with any economist? Are they supposed to be able to predict a cheeto imposing absurd global tarriffs? “Once in a lifetime” is just an expression the media likes to use.
Sorry I topic drifted a bit. I wasn’t actually thinking of that. I was under the impression that things were going very poorly even before tariffs.