this post was submitted on 06 Nov 2024
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politics

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Summary

Financial markets reacted quickly to Donald Trump’s return to the presidency, with higher share prices, a stronger dollar, and expectations of slower interest rate cuts.

Trump has outlined plans to cut taxes, impose high tariffs, restrict migration, and reduce regulations. Economists warn that his economic policies could hinder growth and drive up consumer prices, while benefiting corporate profits.

Trump’s tariffs, especially a 60% levy on Chinese imports, are expected to strain the eurozone.

Inflationary pressures from his policies may also challenge the Federal Reserve’s efforts to lower interest rates.

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[–] NegativeLookBehind@lemmy.world 143 points 1 day ago (3 children)

America: “Inflation under Biden is awful”

Trump: “Elect me and I’ll make it worse”

America: “Yup, that’s our guy”

[–] spankmonkey@lemmy.world 80 points 1 day ago (2 children)

Two years after Trump makes it worse: "Why did the Dems tank the economy?"

[–] HawlSera@lemm.ee 5 points 1 day ago

Not even a joke, remember Covid-19 and how people pointed to the empty grocery stores and said "This thing literally happening under Trump is a preview of what Biden will do!"

[–] joekar1990@lemmy.world 38 points 1 day ago (1 children)

"How could Joe Biden do this to us!" Person exclaims after GOP controls the house, Senate and executive branch.

[–] Retreaux@lemmy.world 20 points 1 day ago

Don't forget the judicial branch!

[–] Makeitstop@lemmy.world 22 points 1 day ago (1 children)

Trump and the Republicans are about to make things worse for the vast majority of Americans. How much they actually accomplish will probably be at least somewhat limited by infighting and incompetence, But if they fulfill even a fraction of what the campaign promised (to say nothing of the project 2025 roadmap) there will be a lot more things for the people to be upset about.

[–] NegativeLookBehind@lemmy.world 12 points 1 day ago (3 children)

If they also win the House, how will they blame the democrats for their problems when they have total control?

Sort of a rhetorical question.

[–] CharlesDarwin@lemmy.world 4 points 1 day ago

They'll say the immigrants, Teh Gheyz, the tranz, the uppity wimmenz, the POC, the woke, antifa did it...

[–] lolcatnip@reddthat.com 14 points 1 day ago (2 children)

Simple. They say everything is the Democrat's fault, and their idiot followers believe it, no questions asked. It's been working in Texas for decades.

[–] TexasDrunk@lemmy.world 2 points 1 day ago

Abbott said he wouldn't stand for any Democrat policies around here.

I guess I should further emphasize the rhetorical part.

[–] billiam0202@lemmy.world 8 points 1 day ago

Find any state where Conservatives have been in charge for two decades or more and you'll have your answer.

[–] cheese_greater@lemmy.world 5 points 1 day ago* (last edited 1 day ago)

CHANGE 🧟‍♂️!!!

[–] CharlesDarwin@lemmy.world 6 points 1 day ago (1 children)

Yeah, but if he ends up hurting the right people more, his base will fellate him for it.

[–] Shanedino@lemmy.world 2 points 1 day ago

Will they though?

[–] HonorableScythe@lemm.ee 60 points 1 day ago (3 children)

I'm scared for the economic future. My job is with a company that needs supplies from China to make our products. Our buyers also source most of their raw materials overseas. Trump's tariffs will destroy us. We won't be able to source materials and neither will our buyers. I may lose my job.

Beyond that, I have family members only a couple of years from retirement. This is going to tank their accounts. I need a new car. How will I be able to afford one? Everything is going to go up in cost.

[–] Soulg@sh.itjust.works 36 points 1 day ago

I'm scared for the economic future because I'm already poor. Making me turbo poor isn't going to help lol

[–] Thebeardedsinglemalt@lemmy.world 26 points 1 day ago* (last edited 1 day ago)

I work at a not for profit hospital. We're about to get gutted with cuts to medicare, Medicaid, social security and every other tiny line

[–] catloaf@lemm.ee 9 points 1 day ago

There are no good answers for your questions. It's going to be painful.

[–] PortoPeople@lemm.ee 29 points 1 day ago

Nobody ever lost money betting against the intelligence of the American people.

Lucky for Trump he can just fire anyone that doesn't make the numbers look good.

[–] ajoebyanyothername@lemmy.world 21 points 1 day ago (1 children)

You mean all those profits aren't going to trickle down?

[–] Nightwingdragon@lemmy.world 8 points 1 day ago

Oh, something is going to trickle down alright......

[–] Wilzax@lemmy.world 15 points 1 day ago (1 children)

The decising factor in most elections is how expensive things feel. Now, the president can't do a whole lot to make things cost less. But they have a hell of a lot of power to make things cost more. So the BEST we can hope for is a president who slows down how fast things are getting more expensive. But when we're spending, we don't feel the current inflation rate, we feel the cumulative effect of inflation for the past few years.

[–] skulblaka@sh.itjust.works 7 points 1 day ago

Well they sure fucked that one