Months before the 2024 election Trump tried to take credit for the strong economy by saying investors were looking forward to a Trump presidency. Now he IS president and blaming Biden policies for ruining his economy. So Trump did not see the economy he inherited as being shaky.
You ain't seen nothing yet.
Just wait until February. Then the bottom will really fall out of the job market.
And if the current policies are continued, it will continue to get worse YOY.
Foreign investments are declining, and the dollar is weak, so inflation and job losses will continue.
I think that's what they call stagflation. A combination of the worst of an overheated economy and an economy in recession.
Enjoy the things that are free, you may need to "consume" more of those things in the future.
Because both January and February are traditionally slow months, but next year will be worse than normal. My guess is that there will be a lot of firing, in part because many businesses will be slow, and second because they can't afford to hold people on for things to look up in in March/spring, and third because many probably will be skeptical that things will look up enough to keep people on anyway.
But all in all it's mostly a gut feeling from 30 years in business, and although I am not American, I know business in USA is harsher regarding these things than what is normal in Europe.
I predict the shit will hit the fan about March, give or take a month or so. High heating bills, skyrocketing insurance, and food prices coupled with a collapsing economy and loan defaults will drive the country into a deep depression. Not to mention the political shit-show that is deteriorating fast.
I am not sure if its really that impactful but there are people boycotting the US.
I personally have:
deleted facebook account
deleted google account
deleted reddit account
canceled amazon prime and deleted account
(and I used to use these serviced A LOT).
And I don't buy obvious US products anymore especially when there are simple alternatives, eg Coca-Cola, Pepsi, Pampers, etc
In fact for every bigger purchase I try to buy European.
Well done, keep it up. đ
I already didn't use any American services much except Steam, and although it is American, Steam has been fair and has done tremendous work for Linux, which helps independence from plethora of other American companies. So I'm still using Steam.
But I'm not buying a lot of American goods I used to like: Californian wine, Bourbon, Heinz (Kraft), Palmolive, Gillette, Coca Cola. Marabou (also Kraft), Some times when I'm in doubt I read the label, that's not enough to detect a company like Marabou or cloth softeners that have local names and are made in France but owned by Palmolive, our replacement for that is Noora that is made by a Spanish company. Wife doesn't want the cheap brands. đ
In short I'm personally going to great lengths to avoid American brands even when they are made in Europe. If I can get a true European product or from another democracy than USA I go for that. We are keeping it up as long as USA is acting crazy, and I hope enough people are doing it to make it noticeable for American companies.
Plus: many people who can avoid travelling to the USA are actively avoiding that, given the new plans for entry requirements. If everyone wanting to enter on a tourist visa will have to figuratively undress completely regarding their online and communication activities, nobody sane will go there for fun anymore.
and the dollar is weak, so inflation and job losses will continue.
weaker dollar means there's more jobs though, because while it's more expensive for you to buy products abroad, it's cheaper for foreigners to buy your products, so that stimulates exports, which stimulates production
Yes in principle, except USA has very low export of goods compared to the size of the economy.
So it will stimulate exports some. But despite the decline of the dollar happened already this year, the export of goods has declined anyway. Because Trump is a moron and has made everybody angry with USA.
The weak dollar has NOT increased exports, but together with tariffs it has caused inflation to be a higher than it otherwise would have been. And the weak dollar is caused by a lack of capital influx (investments) to USA, and less investments means fewer new jobs.
Trump is teeing up economic collapse. Our budget deficit is 6%, well over double economic growth, and unsustainable. Our national debt is massive, and a significant chunk comes due in 2026 and will have to be rolled over into new bonds, which will undoubtedly be seeking a higher interest rate to compensate for the fiscal risk caused by the out of control budget. Add in the fact that Jerome Powell's term as fed chair in up in May, and you can rest assured that Trump will appoint a lackey, it becomes clear that reckless monetary policy to juice the economy will be in play. There is a reason that gold is in the midst of the biggest bull market of all time, and it will go absolutely bonkers in 2026.
Nobody can afford to live while working. Now hardly anyone will be working, our safety nets have been dismantled, healthcare is an obstructive shareholder grift and itâs illegal to be homeless welcome to the tech bro feudal system. Your lords are not âgeniusesâ theyâre mentally ill malignant narcissistic hoarders
When was the Trump economy ever moving to begin with? Seems to me that he slammed the brakes on the already slow Biden economy and has been driving in reverse since then.
Unemployment spiked last time because of Covid. MAGA has nothing to blame this on, other than their own incompetent policies. But Kevin Besset goes on Meet the Press every week, and claims that everything is fine, the Dems are just lying.
Yeah Trump voters voted for this whether they wanted to or not. They said put a corrupt president in office âheâll be goodâ. If you voted for him you voted for corruption and facism and I do not like you
Wrong, you shared your BASELESS opinion.
Not all opinions are equal, although the Christian right likes to claim so.
But informed opinions are actually worth more than uninformed opinions.
Theyâre 10-4, first in their division, 3rd in the AFC. Theyâre not my first choice to win the Super Bowl, but I wouldnât bet against them either.
No Harris would have continued Biden's economic policies, and they actually created economic progress.
The problem with inflation was a worldwide consequence of COVID, European countries have inflation under control now. in my own country Denmark, food prices even dropped a little in November! And inflation is projected to be below 2% next year.
The economy remains a key irritant. Voters say it's in bad shape by 67%-32%. And 45% say their own financial situation is worse now than four years ago, versus 30% the same, with just 24% doing better. The "worse off" number exceeds its 2008 level, then 42%, and far outpaces its shares in 2020 (20%) and 2016 (28%).
Trump is more trusted than Harris on immigration and the economy in the preliminary exit polls while Harris leads Trump in trust on abortion.
80 Comments
Pistcow@lemmy.world · 109 pts · 263d
So, since last time he was president?
panda_abyss@lemmy.ca · 49 pts · 263d
Speed run this time though
Burninator05@lemmy.world · 8 pts · 262d
In 2017 Trump started with an economy that was doing ok after 8 years of Obama. In 2025 Trump started with an economy that was shaky at best.
groupofcrows@lemmy.ca · 5 pts · 261d
Months before the 2024 election Trump tried to take credit for the strong economy by saying investors were looking forward to a Trump presidency. Now he IS president and blaming Biden policies for ruining his economy. So Trump did not see the economy he inherited as being shaky.
Buffalox@lemmy.world · 65 pts · 263d
You ain't seen nothing yet.
Just wait until February. Then the bottom will really fall out of the job market.
And if the current policies are continued, it will continue to get worse YOY.
Foreign investments are declining, and the dollar is weak, so inflation and job losses will continue.
I think that's what they call stagflation. A combination of the worst of an overheated economy and an economy in recession.
Enjoy the things that are free, you may need to "consume" more of those things in the future.
Lost_My_Mind@lemmy.world · 23 pts · 263d
Why February?
Buffalox@lemmy.world · 36 pts · 263d
Because both January and February are traditionally slow months, but next year will be worse than normal. My guess is that there will be a lot of firing, in part because many businesses will be slow, and second because they can't afford to hold people on for things to look up in in March/spring, and third because many probably will be skeptical that things will look up enough to keep people on anyway.
But all in all it's mostly a gut feeling from 30 years in business, and although I am not American, I know business in USA is harsher regarding these things than what is normal in Europe.
bradorsomething@ttrpg.network · 7 pts · 262d
I sadly laid off last December, when he was elected the writing was on the wall.
Buffalox@lemmy.world · 4 pts · 262d
Yes, the warnings were pretty clear, project 2025 was well known.
rayyy@piefed.social · 15 pts · 262d
I predict the shit will hit the fan about March, give or take a month or so. High heating bills, skyrocketing insurance, and food prices coupled with a collapsing economy and loan defaults will drive the country into a deep depression. Not to mention the political shit-show that is deteriorating fast.
saimen@feddit.org · 8 pts · 262d
I am not sure if its really that impactful but there are people boycotting the US.
I personally have: deleted facebook account deleted google account deleted reddit account canceled amazon prime and deleted account (and I used to use these serviced A LOT).
And I don't buy obvious US products anymore especially when there are simple alternatives, eg Coca-Cola, Pepsi, Pampers, etc In fact for every bigger purchase I try to buy European.
I yet have to cancel Netflix and Disney though.
Buffalox@lemmy.world · 7 pts · 262d
Well done, keep it up. đ
I already didn't use any American services much except Steam, and although it is American, Steam has been fair and has done tremendous work for Linux, which helps independence from plethora of other American companies. So I'm still using Steam.
But I'm not buying a lot of American goods I used to like: Californian wine, Bourbon, Heinz (Kraft), Palmolive, Gillette, Coca Cola. Marabou (also Kraft), Some times when I'm in doubt I read the label, that's not enough to detect a company like Marabou or cloth softeners that have local names and are made in France but owned by Palmolive, our replacement for that is Noora that is made by a Spanish company. Wife doesn't want the cheap brands. đ
In short I'm personally going to great lengths to avoid American brands even when they are made in Europe. If I can get a true European product or from another democracy than USA I go for that. We are keeping it up as long as USA is acting crazy, and I hope enough people are doing it to make it noticeable for American companies.
Halcyon@discuss.tchncs.de · 4 pts · 261d
Plus: many people who can avoid travelling to the USA are actively avoiding that, given the new plans for entry requirements. If everyone wanting to enter on a tourist visa will have to figuratively undress completely regarding their online and communication activities, nobody sane will go there for fun anymore.
Someonelol@lemmy.dbzer0.com · 6 pts · 262d
I'm enjoying every free packet of ketchup I can still get. Some places are now starting to charge for cups of water or BBQ sauce packets.
Washedupcynic@lemmy.ca · 1 pts · 262d
I take packets of free mayo, ketchup, mustard, and hot sauce from the work cafeteria everyday. I haven't bought those condiments in ages.
gandalf_der_12te@discuss.tchncs.de · 2 pts · 262d
weaker dollar means there's more jobs though, because while it's more expensive for you to buy products abroad, it's cheaper for foreigners to buy your products, so that stimulates exports, which stimulates production
Buffalox@lemmy.world · 5 pts · 262d
Yes in principle, except USA has very low export of goods compared to the size of the economy.
So it will stimulate exports some. But despite the decline of the dollar happened already this year, the export of goods has declined anyway. Because Trump is a moron and has made everybody angry with USA.
The weak dollar has NOT increased exports, but together with tariffs it has caused inflation to be a higher than it otherwise would have been. And the weak dollar is caused by a lack of capital influx (investments) to USA, and less investments means fewer new jobs.
gandalf_der_12te@discuss.tchncs.de · 2 pts · 262d
yeah i know, i was just pointing it out
Washedupcynic@lemmy.ca · 4 pts · 262d
That means nothing when you've alienated all your trading partners, and your trading partners are boycotting the products you make.
SharkAttak@kbin.melroy.org · 37 pts · 263d
How could Barack Biden do this??
Rentlar@lemmy.ca · 18 pts · 263d
O'Biden
N0t_5ure@lemmy.world · 29 pts · 263d
Trump is teeing up economic collapse. Our budget deficit is 6%, well over double economic growth, and unsustainable. Our national debt is massive, and a significant chunk comes due in 2026 and will have to be rolled over into new bonds, which will undoubtedly be seeking a higher interest rate to compensate for the fiscal risk caused by the out of control budget. Add in the fact that Jerome Powell's term as fed chair in up in May, and you can rest assured that Trump will appoint a lackey, it becomes clear that reckless monetary policy to juice the economy will be in play. There is a reason that gold is in the midst of the biggest bull market of all time, and it will go absolutely bonkers in 2026.
Formfiller@lemmy.world · 29 pts · 262d
Nobody can afford to live while working. Now hardly anyone will be working, our safety nets have been dismantled, healthcare is an obstructive shareholder grift and itâs illegal to be homeless welcome to the tech bro feudal system. Your lords are not âgeniusesâ theyâre mentally ill malignant narcissistic hoarders
blattrules@lemmy.world · 26 pts · 263d
When was the Trump economy ever moving to begin with? Seems to me that he slammed the brakes on the already slow Biden economy and has been driving in reverse since then.
Buffalox@lemmy.world · 4 pts · 262d
I think it's stalling the same way a plane would if it's not moving and loses air lift. So next to come is crashing.
gandalf_der_12te@discuss.tchncs.de · 2 pts · 262d
a move backwards is still a move
HootinNHollerin@lemmy.dbzer0.com · 20 pts · 262d
Trump is worse than a pandemic
myfunnyaccountname@lemmy.zip · 20 pts · 262d
Can you believe Biden fired all these people just to hurt trumps amazing numbers?!
Iheartcheese@lemmy.world · 17 pts · 263d
Employment is a Democrat hoax.
Treczoks@lemmy.world · 16 pts · 262d
Trump is like manmade COVID for the US economy.
Sadly, the "normal" way to distract from failure at home is starting some random war.
slothrop@lemmy.ca · 15 pts · 263d
He's doing a state of the onion tm night....
korendian@lemmy.zip · 9 pts · 263d
prole@lemmy.blahaj.zone · 1 pts · 262d
The state of the onion is tasty!
who@feddit.org · 13 pts · 262d
I wonder what it would be if this year's ICE hires were excluded from the "employed" count.
gandalf_der_12te@discuss.tchncs.de · 6 pts · 262d
ICE has 20k employees (source) so it'd be about 4.6% still.
Big_Boss_77@lemmynsfw.com · 12 pts · 262d
Is a "stall" better or worse than a "free fall nose dive into concrete"?
Burninator05@lemmy.world · 6 pts · 262d
Stall is better. They didn't use that description because they needed to save some words for when things gets really really bad.
VampirePenguin@lemmy.world · 11 pts · 262d
You mean Biden's economy finally ran out of steam.
crusa187@lemmy.ml · 10 pts · 263d
So, highest since Trumpâs first term. Nice.
BarneyPiccolo@lemmy.today · 4 pts · 262d
Unemployment spiked last time because of Covid. MAGA has nothing to blame this on, other than their own incompetent policies. But Kevin Besset goes on Meet the Press every week, and claims that everything is fine, the Dems are just lying.
empireOfLove2@lemmy.dbzer0.com · 8 pts · 263d
yeah but stock market!! 1!! 1!1!! 1!1
WanderWisley@lemmy.world · 7 pts · 263d
The highest level so farâŚ
Paranoidfactoid@lemmy.world · 2 pts · 261d
"IT'S ALL BIDEN'S FAULT!"
ExLisper@lemmy.curiana.net · 2 pts · 261d
What's the worst case scenario? US declares bankruptcy, inflation hits 100%, everyone loses all their savings and the rich become even richer?
billbasher@lemmy.world · 1 pts · 261d
Yeah Trump voters voted for this whether they wanted to or not. They said put a corrupt president in office âheâll be goodâ. If you voted for him you voted for corruption and facism and I do not like you
SantasMagicalComfort@piefed.world · -59 pts · 263d
I bet if Harris won she would have hit the highest rate in forty years by now.
blitzen@lemmy.ca · 16 pts · 263d
On what evidence do you support that theory?
SantasMagicalComfort@piefed.world · -37 pts · 263d
What evidence do you have to disprove it?
kbobabob@lemmy.dbzer0.com · 24 pts · 263d
You're the one making a dumbass comment. If you want people to listen to you then at least try to put reason to such a dumbass comment.
SantasMagicalComfort@piefed.world · -35 pts · 263d
No offense but if you don't have evidence to disprove my comment why did you feel the need to jump into the conversation?
Buffalox@lemmy.world · 13 pts · 263d
You are either a troll or very poorly educated.
huquad@lemmy.ml · 14 pts · 263d
Why not both?
Buffalox@lemmy.world · 6 pts · 263d
I was trying to be nice. đ
forrgott@lemmy.zip · 7 pts · 262d
Says the guy doing nothing to defend an utterly moronic stance...
Buffalox@lemmy.world · 14 pts · 263d
You are the one making the claim, so the burden of proof is on you.
SantasMagicalComfort@piefed.world · -19 pts · 263d
I shared my opinion.
Buffalox@lemmy.world · 9 pts · 263d
Wrong, you shared your BASELESS opinion.
Not all opinions are equal, although the Christian right likes to claim so.
But informed opinions are actually worth more than uninformed opinions.
gandalf_der_12te@discuss.tchncs.de · 2 pts · 262d
in german we have a great proverb called "einbildung ist auch eine bildung"
Buffalox@lemmy.world · 2 pts · 262d
LOL that's a good one. Hard to translate so it works though, but I speak enough German to get it just fine. đ
That's almost like having a theoretical degree in physics.
Not quite as good as having a degree in theoretical physics.
blitzen@lemmy.ca · 10 pts · 263d
Evidence canât prove a negative.
I have no idea what todayâs economy would look like under Harris, but Iâm not the one making a claim.
SantasMagicalComfort@piefed.world · -17 pts · 263d
Would you be coming after me this hard if I said that I bet the jaguars will win the super bowl next year?
blitzen@lemmy.ca · 9 pts · 263d
Iâm not sure a simple âwhat is your evidenceâ is coming at you hard. But okayâŚ
if you said that I would see they have a very good record right now (evidence) and wouldnât wonder why you are saying that.
If you claimed the Titans were going to win, I would indeed wonder and ask for your reasoning.
SantasMagicalComfort@piefed.world · -9 pts · 263d
Have the jaguars ever played a super bowl?
blitzen@lemmy.ca · 4 pts · 263d
Theyâre 10-4, first in their division, 3rd in the AFC. Theyâre not my first choice to win the Super Bowl, but I wouldnât bet against them either.
Buffalox@lemmy.world · 9 pts · 263d
No Harris would have continued Biden's economic policies, and they actually created economic progress.
The problem with inflation was a worldwide consequence of COVID, European countries have inflation under control now. in my own country Denmark, food prices even dropped a little in November! And inflation is projected to be below 2% next year.
frustrated_phagocytosis@fedia.io · 8 pts · 263d
No.
corsicanguppy@lemmy.ca · 6 pts · 263d
Compared to the series of absolute winner advisors the Cheeto has? Yeah. Go with that, buddy ;-)
Jakdracula@lemmy.world · 5 pts · 262d
Youâre wrong.
https://www.wsj.com/politics/elections/economists-say-inflation-deficits-will-be-higher-under-trump-than-harris-0365588e
And:
https://www.ms.now/the-reidout/reidout-blog/trump-penn-wharton-economy-harris-rcna168687
And:
https://www.bloomberg.com/features/2024-trump-harris-economics-plan-models/
And:
https://www.moodys.com/web/en/us/site-assets/assessing-the-macroeconomic-consequences-of-harris-vs-trump.pdf
Should I keep going?
SantasMagicalComfort@piefed.world · -3 pts · 262d
Exit polls 2024: Deep economic discontent with Biden drove voters to Trump
gandalf_der_12te@discuss.tchncs.de · 2 pts · 262d
unemployment doesn't matter anyways, affordability does.
with what policy does trump support giving handouts to the people? none i can see. and that's the problem.
Ghyste@sh.itjust.works · 1 pts · 263d
Pretty sure this sarcasm is for the poster and I'm here for it.