this post was submitted on 11 Mar 2025
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politics

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Summary

Fox News openly blamed Donald Trump for Monday’s stock market crash, with the Dow dropping 890 points and the S&P 500 falling 2.7%.

The Dow is now 1,500 points below where it was when Trump took office. Analysts cite his chaotic messaging and steep tariffs on key trading partners as driving investor uncertainty.

Trump refused to predict a recession, calling it a “transition,” while his officials gave conflicting reassurances.

Treasury Secretary Scott Bessent warned of a “detox period,” further fueling market fears.

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[–] Chainweasel@lemmy.world 54 points 1 day ago (5 children)

Trump was placed in office for one specific reason, to make rich people even more money.
He's falling at that because rich people don't have cash, they have stock.

He's fucking with trade which is making stock prices free fall, and since rich people's values are directly tied to stock prices, that's as good as taking money directly out of their wallets.
This is the only thing that will put an end to Donald Trump, fucking with rich people's money.

[–] JacksonLamb@lemmy.world 9 points 17 hours ago* (last edited 17 hours ago)

He was placed in office to make super wealthy oligarchs richer and he is succeeding.

Oligarchs make a killing in these conditions. They all came out richer after the 2008 financial collapse and they will again this time.

[–] cavtroop@lemmy.world 20 points 21 hours ago* (last edited 21 hours ago)

They're crashing everything on purpose, and at multiple people direction. The wealthy a) make money on the shorts etc and b) will hoover up whats left after everyone not in the 1% has nothing left.

THATS when they'll ditch DT via the 25th, Vance will take over as hes less of a loose cannon and more controllable. He'll also be able to run for president twice more if they use the 25th on DT after 2 years.

[–] SoleInvictus@lemmy.blahaj.zone 20 points 23 hours ago

I wish you were right, but the rich LOVE a stock fire sale and Trump is giving them one. Berkshire Hathaway has been saving up liquidity specifically in anticipation of a recession. Every time the market dips, the rich end up growing even richer.

The rich are far, far more savvy at investing than that. The rich made a fuckton yesterday by selling VIX, writing calls, and generally just doing what people who already own everything do.

This hurts 401(k)s and investments owned by normal people. The rich will be fine.

[–] Enfors@lemm.ee 3 points 23 hours ago

Unbelievably enough, it might end up being the rich people in the US who end up saving us all, by deposing Trump because he fucks up their bottom line.