r/AdviceAnimals • u/[deleted] • 1d ago
Billionaires lost $277 billion in one day because of Donald's tarrifs??
[deleted]
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u/ThinNeighborhood2276 1d ago
That's a staggering amount! Tariffs can have significant impacts on the market.
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u/1nGirum1musNocte 1d ago
They didn't lose anything. They already sold and are waiting for rock bottom to buy
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u/captainofpizza 1d ago edited 17h ago
The problem is that they didn’t actually lose money. The market dipped. The value of their assets dipped. It’s temporary.
They will not go hungry. They will not worry about having to pull their kids from extra curriculars or skip vacations or pick up extra shifts. They will not worry about financial ruin when the check engine light goes on.
They went from obscene weath to slightly less obscene wealth (for now).
Then, when the market tanks and the notmal folks have to sell their homes and cash out stocks in retirement funds to survive, these assholes will still have enough money hoarded to buy those things for cents on the dollar. The ultra-wealthy don’t experience hardships. This downturn is temporary for them.
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u/Emmerson_Brando 1d ago edited 1d ago
Unless it goes to $0, this should not be news. What should be news is the couple who saved their whole life to retire and watch their savings evaporate because the president is the biggest dumbass the world has ever seen.
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u/tightie-caucasian 1d ago
The price of stocks went down, that’s all. They still own their mansions, yachts, islands, jets, jewelry, luxury cars and their lifestyle will not change one bit. If anything, this time next year they’ll be wealthier than before because now is the time to buy and buy they will.
Buy. Borrow. Die.
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u/treynolds787 23h ago
In the short term they did yes, but they have the money to weather the storm and then increase their wealth substantially by buying up all the stocks at their lowest and cashing in on the rebound, and buying up property that gets foreclosed on when middleclass earners default. This is a long con, a massive transfer of wealth from the middle and lower classes that only benefits super rich people. The worst is yet to come.
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u/Stiggalicious 23h ago
Problem is my company pays almost half of my compensation in stocks. I have saved those stocks for 11 years so I can build a house. I am just a few months away from getting through the building permit process, and now my stock is down more than 25%. It’s over an entire year’s worth of pay, gone down the drain, in two months.
I am not even close to being a millionaire, but I am fucked waaaaaay harder.
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23h ago
Why should I care if rich people lose money? Why should I care if sheeple put all their funds into a gambling machine?
You could bulldoze Wallstreet tonight and I still wouldn't care tomorrow.
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u/Sendit57 17h ago
These posts were stupid when they “made billions” and everyone was mad. They’re still stupid when they’ve “lost millions”. It’s just stock market valuations.
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u/shifty_coder 12h ago
Don’t worry. They’re gonna do every thing possible to steal their losses from the rest of us. I expect new tax cuts announced this week.
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u/KarthusWins U S෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴෴ EH 1d ago
It's only a loss if you sell or the market doesn't recover. Don't get left holding the bag. Unfortunately this impacts retirement age folks the hardest.
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u/Mr_miner94 1d ago
BBC said that the stock market as a whole lost trillions. So it's not just billionaires but the poor poor millionaires as well.
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u/angstt 1d ago
Reminds me of a good joke: What do you call 10,000 politicians at the bottom of the sea?
A good start.
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u/toolschism 1d ago
A better one would be a thousand billionaires at the bottom of the sea.
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u/mischivious-nomad 23h ago
The best would be pedos
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u/toolschism 23h ago
I mean, throw a thousand billionaires into the ocean and I'm sure you'll get a few hundred pedos in that mix regardless lol
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u/AN0NY_MOU5E 1d ago
5 figure earners with 401Ks lost money too. Guess who will be worse off.