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Fascism ultimately tanks any system because it prices loyalty above all else and you inevitably end up without any compitent people in charge.

They understand tariffs. They want stock prices to tank so they can rake in on slashed prices. This is just more and more of the same wealth transfer in the past 45 years, just so in our faces that people don't want to believe it's happening.

I hate that going for a meal out is considered excessive, from someone who is in the same boat as you.

this isnt a slump yet

Technically we are in correction territory, so id say we are a slump. This isnt the bottom though. Get some puts and ride this baby all the way down. I hit 10x on tesla puts that i bought yesterday. This markets dumb and with the volatility this high, everyone should be making money if they sell when they are green and done diamond hand it

I've moved most of my savings to Gold since around 2010 partly because I was in the Finance Industry during the financial crash of 2008 and saw how the "fixes" done back then weren't at all fixing the problems, just kicking the ball forward on the backs of people whose income mainly comes from work (hence the growth of inequality, slow down in social mobility and insane various bubbles including realestate that kept on getting inflated for the last decade) something which has been fueling the growth of the far right (people are feeling the pain, getting pissed of and lots of money has been put by very rich people into political entities and the newsmedia to spread the idea that it's outsiders who are to blame for all this rather than very wealthy insiders plundering an economy which has ground down to a halt its growth, in collusion with local politicians).

I was also in the Tech Industry during the tech crash of 99, which probably made me even less trusting in the current system's long term stability.

Gold is a pretty old fashioned way to try and retain some value on one's savings, especially in countries where government management of the Economy and the local currency is pretty bad (in my own country of Portugal it used to be pretty popular to get it in the form of jewelry for that purpose, though not anymore, and it apparently still is in India and most of Asia including China).

(Basically, it's the "oh shit" option for when the Economic situation gets very bad and people fear the value of state issued currencies themselves won't hold)

I can tell you that even though Gold has been mostly just kept up with inflation for the last decade and a half (with an uptick when Russia invaded Ukrained), Donald Trump's actions really made the value of Gold in most currencies (especially USD) take off like a rocket, or in other words, that the value of most currencies is falling hard compared to what up to 71 was treated worldwide as the reference "currency".

IMHO, it's a pretty fucked up sign, especially for the US Dollar (which has the extra nasty bit that it stops being the World's Reserve Currency, all the benefits from it will unwind and if that happens fast - within a year or two - we might see shit like hyperinflation in the US).

PS: And if I may gloat a bit, I was living in Britain back when Brexit happened and did call it successfully and saved my savings by having most of them in Gold and Euros when Brexit crashed the British Pound by about 30% vs the Euro, something it never really recovered from. Maybe I was lucky but I remember that at the time and even before the Leave Referendum I felt that the Austerity in Britain was stretching the political environment in the country and that it wasn't a safe place to hold my savings, even though back then all my income was in GBP.

(extremely reddit voice) priced in

Hope you like short naps

1. They inherited Biden's economy

2. trump can't affect anything so soon

3. It would be worse under Kamala

4. We'll just have to suffer a little pain while trump fixes things

Take your pick of weak excuse

lol, no. Rich ppl just gonna buy when retail sells. Smart money sold already.

This isn't because of Bidens ineptitude though. This is entirely Trump's fault. Anyone with half a brain could predict this after attacking our allies and bringing up the tariffs.

The tarrifs are 100% donnie.

If he can take credit for the past admin, he can take credit for his failures.

He won't, Trump can do no wrong according to himself and his cult followers. Anything good is all him, anything bad is a nebulous thing he had no part of.