The first thing I did when trump got elected was to move 50% of my money into foreign markets, and I’m just a wage slave with a roth.
The crash is coming.
its already here, the shutdown to avoid the files is accelerating that.
JP Morgan taking a win on their hedge only after idk how many decades of commodifying everything fucking thing they could. That’s a lot of words for the leech sucked the blood dry. Time to move on.
How strange that a nation led by someone who has declared bankruptcy 7 times is going bankrupt… What a twist!!!
He’s running it like a business. Into the ground.
Pretty sure he’s the final boss of capitalism and here’s the controller America is using:
This has been going on for like 15 years
Add 10. Clinton admin ended with a surplus. Bush pushed the US back into debt, and every president since Bush has grown that debt.
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As much as I’d like to lay all the blame at The Cheato’s feet, this has been an ongoing problem. He’s only stepped on the gas and made it more urgent than it was previously.
You are right about that. America voted him in. Birds of a feather, I guess. Or, as my Grandpa used to say, Baaaarf.
Americans not understanding basic finance = the implosion of democracy around the globe is kinda depressing and funny at the same type.
You would think with how obsessed our country is with money that more people would understand the difference between a revenue problem and a debt problem.
You can’t get out of debt by spending less if you don’t have any revenue. It doesn’t matter how much you cut in your budget if you don’t bring in any money.
The rich have been slashing spending and increasing borrowing for decades now, just so they can convince the public that there’s room in the budget for tax cuts. It’s like watching someone’s shitty friend convince a guy on unemployment to take out loans and to stop buying groceries so they bum a hundred bucks from them.
Our education system is a joke. You have to be proactive in your education here if you want to actually learn and most people are too lazy to do that. I’m not really blaming the people though cos it’s our system that encourages it.
its worst now for younger generation k-12, and even some recent college students, than in the 2000s. theres actually some regression going on in education in the us.
Parents have a lot to do with it too. Conservatives go on and on about things that are a parent’s right to teach and then teach none of it. It wasn’t in high school that I learned how to file my taxes, balance a check book, or repair a sink among many other things.
at first it was reading writing below a 10 grade level 10years ago, by my english professors observations and now its like 4-6th grade, they probably arnt even essay writing in hs anymore? plus grammar wasn’t really enforced in school system for decades. parents are half the battle, but the school system is so bad that they are passing D or f students in the mid 2000s already, once these people reach community college, or equivalent, or even a low level state uni, they become surprised that thier C isnt going to push them far as well.
Honestly… what the fuck do I invest in? I’ve been wanting to do this for the better part of a year but how? If the NYSE tanks… so will the majority of other markets. Not only that, but the US economy will be in shambles and money will be the least of my worries - I’d need to be concerned for my physical safety when shopping for fucking groceries because those will quickly disappear off the store shelves.
I play options based on swings as a result of the shit that Trump says and does.
For example, when things tanked on Friday I bought some call options on the speculation that Trump would say or do some shit to make things go back up after the weekend. Sure enough, that worked out.
When things seem steady for too long, and things are near or at all time highs, you buy puts.
Either way, I try to not be too greedy and take profits (cash out either in full or in part) if things go above >25% gains.
Then I sit on the money and wait for the pattern to repeat. That’s how you make a lot of money in the Trump market.
All that said… I’m going to stop playing this in January or so and give it a break till July. There’s too many experts predicting things to get really bad in March. I want to be not invested during that time.
Which means you need survival basics if the NYSE tanks. Paper money will be worthless.
What do you invest in if that happens? Smith & Wesson.
“Emerging markets”. SA, China and SEA have given me pretty consistent returns over the years, and are better insulated from Western crashes.
Sure but I don’t exactly trust moving my money out of the country into a jurisdiction that might outright steal it or where it could be impounded by the US administration if I ever tried to bring it back. Otherwise I’m game for trying to invest in Chinese and Korean markets.
Buy an ETF that’s adequately diversified in emerging market corporations and you’ll be fine. Many of these are heavier on Chinese stocks if that makes you feel better.
Even VWO as another user has mentioned is mostly Chinese. The Indian exposure is to Reliance, ICICI and HDFC bank which are large cap, stable institutions that have existed for decades and do business with global partners.
I’m sure most here know this but with stocks / ETFs its all about diversity. I invested in a Chinese stock (BYD) this year right before they started a price war and allegations came out that they were cooking their books. They’re still way behind on paying their suppliers. So that hasn’t been particularly pleasant for my portfolio.
Something like this:
https://investor.vanguard.com/investment-products/etfs/profile/vwo
yeah I would recommend actually look into emerging market funds lol, there’s absolutely no chance of any of that happening. most of the funds I’m in are managed by Western companies
Euros.
The friends who listened to me back in December have already technically earned money. Back then it was still what, 97¢ to a €? Now it’s at 83¢/€ I think
What platform are you using to convert usd to euro? Do you have a bank account in Europe?
I’ve wanted to do this with a portion of my savings for a bit but couldn’t find a reasonable way to do it without paying crazy fees.
Honestly? Listen to some of the community building focused “It Could Happen Here” podcast episodes. You know how during the great depression, a lot of people were extremely good at preserving food when there were good harvests and at taking care of each other? It’s invaluable to set up those sorts of community support networks now. People like to fetishize stockpiling ammo, but you can’t eat bullets, and a life of banditry is a miserable existence always a coin flip away from death.
This is partially why I’ve started getting into the hobby of vegetable gardening and forms of food preservation like fermenting, canning and drying in the wake of the pandemic. Not only does it benefit me now by reducing my grocery bill and encouraging me to eat healthier more regularly, but it’s also developing skills that could become critical to survival should things get really bad.
I hate canning…. but yea, I guess that’s a new hobby of mine these days.
If the NYSE tanks… so will the majority of other markets.
Also, the rulerships in most other markets have been openly sycophantic to Trump’s extortion. Only more extortion and submission will be demanded as a result of that, and accelerated as US gets closer to brink of collapse. The desperation of colonies to tie themselves to a collapsing/sinking ship that hates them is not a recipe for success.
• food • ammo • gold.
I agree that if the US economy tanks so will everything else. The difference to me is that I want basics to get me through, and ammo for if it turns worse. The gold is just because precious metals tend to retain value while currency can lose its value if it isn’t pegged to the “gold” standard.
Also don’t forget that when times get tough people unfortunately get more violent if they aren’t fed and are struggling.
Also don’t forget that when times get tough people unfortunately get more violent if they aren’t fed and are struggling.
This is where the gold part becomes problematic. Sure, it’ll retain its value. But good luck using it without someone with more desperation than you catching wind that you have it. Doesn’t matter how much ammo you own when your back is turned.
It’s listed in order of importance for a reason.
I didn’t add •keep friends and maintain relationships, because you can’t buy that. You earn it. I don’t worry about my back when it’s turned, that’s what friends are for. I worry about having enough of the first three to help everyone around me get through the same problems. Also, it should go without saying that the point of the ammo is to never have to use it. I’m not intending for someone to come and take what I have.
Things like gold and platinum are very valuable concerning the tech industry and automotive industry, they will retain their value for many reasons.
I already did.
How would you recommend going about selecting European ETFs? Are there any weird tax implications for a US citizen?
IME international funds are as easy to buy as any other, and tax rules are the same as long as the assets remain in a US account.
OTOH if you want to actually move your assets from a domestic account to one in Europe, you may face additional requirements for disclosure and annual reporting. But that’s not necessary if your goal is simply to diversify with international ETFs.
There are foreign ETFs where you can buy in USD if available. I don’t know how that affects taxation for US citizens.
FSEAX
