- cross-posted to:
- trump_watch@lemm.ee
- cross-posted to:
- trump_watch@lemm.ee
Donald Trump has continually insisted that deals over his tariffs are coming.
Donald Trump claimed Tuesday that the U.S. doesn’t “have to sign” any trade deals, inadvertently admitting that his administration hasn’t made any progress during the 90-day pause on his disastrous tariffs.
During a tense meeting to discuss tariffs with Canadian Prime Minister Mark Carney, the president attempted to move the goal posts on actually completing any agreements with foreign countries.
“Everyone says, ‘When, when, when, are you going to sign deals?’ We don’t have to sign deals!” Trump said.
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Well, we all know how incapable Trump is regarding business and economy. Basically any halfway professional diplomat or trade official will basically run him into the next wall, head first.
China is only the first of many countries where he will learn that he is playing with adults for the first time. These are not random bootlicking apprentices he can fire at a whim.
Who is going to sign the first deal with a President who’s famous for backing down? I
He’s the best at backing down. The biggest and most beautiful backdowns. When he backs down everyone claps.
If us Americans survive all this…
Well, here’s your hyberbolic hypothetical argument for euthanasia… realized as an actual case study.
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He is a pile of shit in a trench-coat
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Emperor has no clothes. Nazis don’t care.
Dday part 2 coming soon.
While that might be true, Behold! Two royal bellybuttons!
If there’s one emperor you absolutely want to wear clothes, it’s trump.
The emperor has no class
If you have money in your 401k pull it now.
Shits gonna pop
This is stupid. Selling your investments at a low price for a currency that’s quickly devaluing is two boneheaded moves in one.
Move as many of your investments as possible outside of the US.
The euro is devaluing? I missed that news.
Donald Trump is president of the EU? I missed that news.
It’s a global market, if the US goes belly up the world is going to feel it. Despite Trump putting his head in the sand, we are part of a global economy.
Every currency devalues, that’s what inflation is.
You can’t do that in the US for 401ks with the company you currently work for
Unfortunately, the global economic system is tightly integrated. I think this will provide only a minor hedging effect.
As the rest of the world continues to move on without the US, the effect will grow.
The US consumers base is bigger than the next like six or seven countries combined, China included. If a country exports literally anything, you can bet the US is one of their larger trade partners, if not the largest. We just love buying shit here and had the money to do it. So I’m just saying, this shit is gonna hurt everybody. If you build something, odds are someone in America will buy it. The US imported $3.2T worth of goods in 2022, and if that shit dries up, all those places need to find someone else to sell that shit to.
I say this thinking this is all dumb, and if the issue was China, as it’s purported to be, and which is something I can totally get on board with, why not just go to trade war with China? China is heavily reliant on American consumerism. The US sent 150b in goods to China, but bought 536b back. With no other of America’s trade partners is the gulf so big. Mexico and Canada combined, the next largest two, were less.
I dunno, I’m just an idiot. I think things are much more complicated than folks on here and Reddit make them out to be. And that’s excluding the plethora of other obvious negatives from this administration. I think we all need to buckle up, and it doesn’t matter where you’re from.
Doesn’t matter the currency will be worthless too
Pull 401k and buy a tangible object
If the stock market and US dollar becomes worthless, it won’t matter where you store your retirement money because it’ll be worthless too.
Buy Euros.
Gyros?
The tastier the better.
Don’t scimp on the sauce.
This is just the push I needed to buy that Mercedes, thank you
/s
If tariffs continue for long enough then the value of all cars will skyrocket actually
She sounds like an excellent dancer
You can direct your investments in your 401k to international funds much more easily
Done and done. Thanks for the tip, fellow lemming.
Just an FYI, do be aware that this could have tax implications depending where you put your money and your personal tax liability.
Understanding Taxation of Foreign Investments
- I am not a tax accountant.
Yeah, I think my 401k provider probably thought of that when putting together their international funds offerings
Yes, you’re not not going to have any foreign tax obligations owning a mutual fund in your 401k
True, and as long as expense ratios are the same or lower than your US index/mutual fund then your only real issue is if the US market rebounds and outperforms your portfolio if you had diversified more.
And the expense ratio’s can vary a lot. For example Fidelity shows the exp. ratio of ($0.08 per $1,000) 0.008% for their Index Equity Fund, where their International Equity Fund has an exp. ratio of ($4.02 per $1,000) 0.402%.
Even small differences in fees can have a huge effect over time. Say you’ve invested $100,000 at a 7% annual return: A fund with a 0.80% expense ratio could eat up $70,000 more of your returns over 30 years than a fund with a 0.40% expense ratio.
Source: How to Invest Your 401(k) and Best 401(k) Investments
Took me an afternoon and two days to funds to balance but totally worth it. I’m boycotting US stocks and federal bonds.
Im planning on rolling it into Euros.
That is likely currency to replace the US dollar.
Everyone talks about the yuan, but it’s the euro.
Not bad advice
The real play was the insider trading
What’s that, Lassie?
All he’s done is ruin everything and make the world worse for everybody?
He’s crashing the US economy?
He’s doing hundreds of years worth of damage to the country?
Millions of innocent people’s lives are ruined?
Millions of innocent people outside of the country will probably needlessly die because of him?
What’s that, Lassie?
Huh? It almost sounds French.
Oh, guillotine.
GOOD DOG!
I’m really hoping that after enough people yell at him about how much money they are losing, he will just drop the tariffs and wonder off to the next disaster.
You forgot the part where he declares victory and claims he saved us from the disaster that he himself made.
And 70 million+ American voters believe it.
"We don’t have to sign deals!” Trump said.
Why even bother signing a deal that everyone knows you’re going to break
Made deal with 200 nations? Yeah, imagiNations.
Wakanda, Narnia, Atlantis, Mordor, New Crobuzon, Dis, Sodom & Gomora, flavortown, that isle where all gay man live, the underworld and belgium.
How many MAGA folks will ever see this? Probably very few. And most of those few will dismiss it without a second thought.
He wanted to nuke a hurricane and americans still voted for him.
I wish he did so people would realize how much of an idiot he is. But then again, this is Maga.
Hey now, he eventually back pedaled and successfully redirected the hurricane by using just a sharpie.
“We don’t have to sign deals. They have to sign deals with us. They want a piece of our market, we don’t want a piece of their market. We don’t care about their market. They want a piece of our market,” Trump rambled.
“Trump rambled” is the best attribution for trump quotes.
If we don’t care about their market, why are we trying to balance trade?
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Trump doesn’t. He just wants vassal states.
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You don’t need to be smart to understand power.
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‘We don’t care about their market’ is such a self indictment of his understanding of global trade.
also like… literally the reason for tariffs: because people want international goods and nobody wants yours
Poor soybean farmers hearing that when maybe 40% of their crop ends up in Chyyy-nah
Your base mighttt care about their market lil bro
He’ll just distribute them largess from the public coffer. He doesn’t give a shit. Let them watch gladiators while Rome burns.
To be fair, the bread is still a problem, but he’s saving a bundle on the circus
This is what happens when you mainline American Exceptionalism for 80 years - It rots your brain.
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I guess leaders are too busy kissing his ass?
