President Trump said food benefits will only get paid once the shutdown ends, in a post on Truth Social Tuesday morning.
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Zoom in: “SNAP BENEFITS, which increased by Billions and Billions of Dollars (MANY FOLD!) during Crooked Joe Biden’s disastrous term in office,” Trump said on Truth Social, “… will be given only when the Radical Left Democrats open up government.”
Archive: https://archive.is/tSMcS
The AI bubble propping up the dollar is why a lot of people still feel secure. Once that pops and everyones retirement looks bleak from the market crash and the value of the dollar slips further making things like food even more expensive things will get more interesting. Many people stopped buying many of their non essential goods because they knew Trump is bad for the economy too, so those people are probably still treding water financially for now.
Nvidia is something like 16% of the GDP.
Now, it makes no sense to compare valuation with GDP, but that’s still incredible!
No it’s not. The idiot that posted that doesn’t understand that you can’t directly compare market cap (the accumulated worth of a company) with an annual value like GDP. Comparing Nvidia revenue with GDP might make sense, but that’s a fraction of 1% and doesn’t push the collapse narrative they’re pushing.
Russell 2000 index is a better indicator of the US economy than the popular things that everyone looks at. Namely the SP500, Dow, or their top performing component companies. The small / mid companies in this index are more reflective of the actual economic state of America. It’s been stagnant for the past 5 years. Basically it shows that real America hasn’t been doing well.
It was stagnated in Trumps first term even. The last big move the Russell 2000 index made was a rally when Biden won. Otherwise it’s been pretty reflective of the past 10 years of Trump era policy. They’ve been fucking over middle and lower American business.
Everyone focusing on the biggest companies is essentially watching the rich get richer. Contrast that with the small and mid size companies is reflective of the disparity. In other words the signs you’re looking for are already there.
I don’t in principle, disagree with you. But Russell 2000 is +50% in the last 5 years and I certainly wouldn’t characterize that as “stagnant.” S&P is +96% in the same period.
In what world are you living where the dollar is propped up?
It lost over 10% against all major currencies since Trump took office.
If you’re planning a holiday in Europe* you’ll notice that the dollar is worth shit now.
The AI bubble is a bubble, aka not tangible or sustainable gains. The AI bubble also inflates the value of the dollar. When the AI bubble pops the value of the dollar goes down, likely by a lot. These are all fairly safe assumptions so I fail to see how it wouldn’t follow that the the AI bubble is propping up the dollar.
I think they meant that in the looser sense of it propping up retirement account values.
This is why I have nothing in the stock market.
That’s an ethically strong choice but I’m not gonna lie, if that includes retirement, I don’t think its too practical. I know anarchists active in local organizing that still have retirement funds. You can’t help anyone if you’re also in the hole.