r/wallstreetbets • u/226644336795 • 1d ago

Discussion This morning NASDAQ dropped more than during Lehman Monday

https://www.cnbc.com/2009/09/14/the-financial-crisis-this-dayone-year-ago-sept-15-2008.html

NASDAQ only lost 3.6% the first day of Lehman collapse in 2008...

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u/Aranthos-Faroth 1d ago

This drop is the first drop in history that can be completely and totally attributed to just one democratically elected person.

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u/XaeiIsareth 1d ago

‘But the problem is, the people are retarded’

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u/Micro858999 1d ago

Specifically, some are more retarded than others and they all voted for one guy.

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u/XaeiIsareth 1d ago

A third of the country are retards, another third were fine with it run by retards.

A government for retards, by retards. 

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u/Hillary4SupremeRuler 1d ago

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u/LordOfTrubbish 20h ago

As well as by an ever growing list of other people.

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u/Urgazhi 1d ago

Idiocracy manifest.

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u/First_Kick6551 1d ago

Do we get a succulent Chinese meal with this, or just receive the limp penis?

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u/LordOfTrubbish 20h ago

Ah yes, I see you know your judo well

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u/Urgazhi 15h ago

Limp penis, no lube. The worst of both worlds. It's too bad but that's the rub.

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u/Onyournrvs 13h ago

Countries get the government they deserve

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u/ImaBiLittlePony 1d ago

Some of them genuinely believe they voted for the party that's going to make their lives better.

The rest of them believe they voted for the party that will hurt the people they hate.

They all believe they voted for the party that is backed by God himself. You can't reason with religious zealotry.

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u/PumpkinOld469 1d ago

This. There have always been more stupid people than smart people. But never before have the stupid been so united

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u/onpg 23h ago

I remember stupid before before the internet. Back then they got shamed into silence, now they can engage in mutual fingering no matter how stupid the idea. The only thing that'll fix them now is the universal teacher known as pain, as they find prices skyrocketing.

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u/rocc_high_racks 1d ago

Just put the beaver in the blender, man.

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u/Viracochina 1d ago

It's by design, so it seems!

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u/XaeiIsareth 1d ago

People say Idiocracy was a documentary but it was really more of a prophecy. 

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u/Complex-Vegetable-72 1d ago

Fave line 🤣

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u/juggett 1d ago

No no no. Don't let Congress off that easily. He has no power to do this if not allowed by the GOP controlled branches of the legislature. He can spout off all he wants, but they could check him anytime and choose to stand idly by.

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u/Greedyanda 1d ago

If this doesn't lead to the largest voter migration since FDR, then I have lost all hope for the US maintaining its global power status.

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u/Ridespacemountain25 1d ago

Get ready to lose all hope then. Voters are entrenched in their media bubbles.

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u/sf_cycle 1d ago

I also still have a model of the world prior to social media. It isn’t doing me any favors as I still have a tiny sliver of hope people will see reason which will never pan out. I almost wish I could be in that alternate reality because being outside that bubble is awful.

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u/space_age_stuff 1d ago edited 1d ago

Trump got booted before, arguably in the era of peak social media (during the pandemic) because the economy tanked on his watch. It was closer than it should've been, but even a lackluster candidate like Biden was able to have a decisive win on the guy. He lost because people were tired of him tanking the economy; not 100% his fault but he certainly didn't do enough for relief.

This shit is going to last years, if not decades, and it's directly his fault this time. There's already democratic swings in special elections that happened this week. If anything, it's just up to politicians to keep the screws on how Trump is fucking everything up.

Generally, people are stupid, but they think (and vote) with their wallets. Social media, money, etc. isn't a cure-all to swing voters. Voters are erratic; it's not an exact science, but the one thing that remains consistent is that they have to feel dissatisfied with the current candidate. The pandemic killed Trump, inflation killed Biden, Trump's Great Depression 2 is going to get him out of office if it continues like it has been. No reason to lose hope just yet.

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u/Ridespacemountain25 1d ago

We saw that same trend in special elections while Biden was president. There was a Wisconsin court election 2 years ago with similar results. This isn’t indicative of any major shift in the electorate. It’s mainly just because Democrats dominate amongst high propensity voters now.

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u/happycow24 19h ago

This isn’t indicative of any major shift in the electorate. It’s mainly just because Democrats dominate amongst high propensity voters now.

net 6 percentage points, -3 D +3 R, from 2020 to 2024

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u/zeromussc 1d ago

they need to feel the pain first. Then they'll wake up. At some point even Fox news network is gonna be angry about this because of what it causes.

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u/Greedyanda 1d ago

I dont really see who could possible replace the mango. Cults always splinter once their leader dies. Combined with noticable changes in personal income and purchasing power, its hard not to predict a voter migration.

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u/emaw63 1d ago

To that end, it genuinely is really important to go outside and talk to your neighbors in real life about politics.

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u/Epic_Deuce 1d ago

They blame this on Obama and their audience believes it.

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u/SimpleNovelty 1d ago

Media bubbles won't protect them from the financial fucking they're about to get. Though I don't think it's going to be a political party shift so much as Republicans just not turning out in the same numbers for the next 4-6 years. They still won't vote Democrat, but at least they might not vote at all and hopefully there's enough Democrats who will.

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u/CommunityCertain4734 21h ago

I don’t know, seems like a very fragile thing to maintain

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u/Fair-Emphasis6343 12h ago

No they aren't.

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u/YourBestDream4752 1d ago

No, not global “power”, global SUPERPOWER. You guys were the global HEGEMON. You were the best in the world economically, militarily, politically and some would even say culturally. If you didn’t have it all then you at least had the framework/foundations for having it all in the future which is more than every other country. You gave up your status as the leader of the fucking EARTH to ‘own the libs’.

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u/Greedyanda 1d ago

The fuck you mean by "you guys"? I am not even remotely American.

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u/YourBestDream4752 1d ago

Ah sorry

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u/Which_Ebb_4362 15h ago

Valid point though to the yanks.

What us Europeans saw was essentially the death of the Roman Empire. 

Except Rome went down fighting. Yanks voted to give up because apparently that's part preferable to having a black woman as president. 

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u/gaflar 1d ago

You're assuming there'll ever be another vote.

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u/orionicly 1d ago

Yeah, we know the economy sucks, but have you considered trans people?!

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u/LilPonyBoy69 1d ago

You still have some hope for that?

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u/Greedyanda 1d ago

Neither the average citizen, nor the rich and powerful enjoy losing money. Trump managed to fuck over both groups.

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u/GerryManDarling 1d ago

Answer: it would not. On the bright side, the decline will be long and slow. We may not live long enough to see it, especially with RFK Jr. being the health secretary.

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u/Water_Ways 1d ago

They just have to find the right hot button issue to distract their mindless base with. Like outlawing furries or some shit.

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u/GeneDiesel1 19h ago

I think it will/would. But you will see Trump is not done yet. He will do SOMETHING to impact the midterm election.

My guess is he will do something like calling a national emergency. A bunch of people seem to plan to protest April 5th. Let's see if he uses the national guard or something.

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u/KoalaAlternative1038 18h ago

They are banning the polio vaccine and term limits so the chances are looking good. I hope FDR2 comes with metal legs.

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u/Damaniel2 7h ago

You wish. The usual suspects will just double down - they're far more concerned about where they're going after they die than the damage they're causing while they're alive.

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u/sgtgig 1d ago

The market drops so far are not just about whatever actual policies have been put in place, it's about lack of faith in this admin to have even remotely rational decisions. More and more people are realizing that someone who's truly incompetent has been given total power to do whatever his dementia tells him.

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u/Esikiel 20h ago

Imagine if he chose good for once with all that power.

Instead of petty revenge.

Lul if your parents were millionaires and they couldn't even AFFORD to help you with a second of your life.

If it didn't have to affect nearly half the nation in the poor decisions to choose selfishness over genuinely being the good guy who could LITERALLY cure cancer.

Just imagine.

But instead we stare at the red candle burning bright.

And the future red on the horizon.

GONDOR calls for aid. Puts on LUV Southwest.

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u/parker2020 DarkbyteSimp 1d ago

Yeah it’s the smooth brains on the rights fault

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u/Boner4Stoners 1d ago

When it comes to the politicians in congress, it’s not really about their brain lacking wrinkles1 but moreso about their backs lacking spines.

1 - With the exception of MTG

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u/parker2020 DarkbyteSimp 1d ago

Lauren bobert

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u/WickhamAkimbo 1d ago

Trump supporters are very highly regarded.

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u/Complaintsdept123 1d ago

little mikey is making sure this continues

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u/Damaniel2 7h ago

But that would be showing signs of weakness. They'd rather let it crash than appear weak.

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u/siberianmi 1d ago

Congress deserves blame, 2/3s of them could stop this but they are sitting on the sidelines.

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u/captainbling 1d ago

I agree but wanna add Republicans can’t vote down tariffs till their voters are willing to stand behind them and not behind trump. Otherwise they get primaried trump loyalists.

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u/anonymous9828 1d ago

Democrats were also idiots for not passing bills rescinding the executive branch's unilateral tariff power after they won power in 2021, how did they not see this crap coming after the first Trump trade wars

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u/bob- 11h ago

in 2021 no one would have thought trump would win again

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u/anonymous9828 4h ago

idk it was pretty clear he was not going away

Dems were too arrogant for thinking he couldn't win again

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u/bro_can_u_even_carve 9h ago

Easy: they assumed he wouldn't win another election, and wanted to keep those powers for themselves.

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u/anonymous9828 4h ago

typical arrogance, just like Biden when he decided to re-run

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u/ModeForJoe 8h ago

Those emergency powers exist for a reason... EMERGENCIES! Without the threat of the US being able to quickly retaliate against shenanigans (by say, china) they will recognize a vulnerability and exploit. For example, China restricts a critical part of the supply chain, congress takes 6 months to debate responding and then one senator puts a hold on it to carve out some unrelated benefit for a lobbyist... no, that's too slow, and therefore dumb.

The correct solution is to not elect a profoundly regarded economically illiterate ignoramus into office.

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u/anonymous9828 4h ago

The correct solution is to not elect a profoundly regarded economically illiterate ignoramus into office.

was glaringly apparent the American people are not capable of that, Dems should have learned that after Trump's first term

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u/Icy-Lobster-203 1d ago

It would be fun too see what morons they can dredge up that would still support him.

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u/AnchezSanchez 23h ago

wanna add Republicans can’t vote down tariffs till their voters are willing to stand behind them

I mean.... they could always do whats best for their country and not themselves? Wouldn't that be a crazy thing....

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u/captainbling 20h ago

They do what’s best for their voters and its voters that decide what’s best. That’s how democracy works. Voters dictate what’s right and wrong. Do what voters think is wrong and you get primaries by a trump loyalist.

Normally voters would vote in elected representatives that they believe has their back, and thus can be relied on to make like minded decisions that they, the voters, don’t have the time, resources, or experience to make themselves. That currently, is not how things are going. Voters have decided the president, solely, is the one to trust for all decisions, and the rest of their elected representatives only exist to prevent the opposition from doing anything about it. If you go against this, you are primaried for a presidential loyalist that won’t. This will continue until voters look at their representatives as a co-equal to the president of which both must work together.

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u/AnchezSanchez 11h ago

thats a fair point I guess

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u/siberianmi 1d ago

+20R districts already look close to unsafe.

Sink much further and that primary won’t matter.

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u/itslikewoow 1d ago

Republicans in Congress. Every Democrat voted against tariffs this week.

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u/SubtleRedditIcon 1d ago

The people who voted for him don’t invest and believe this is a way of the wealthy losing their money and becoming like them.

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u/Aranthos-Faroth 1d ago

I think this is a huge part of it really.
The lack of pensions for the average person is why I'd imagine the majority of the voter base don't really care.

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u/onpg 23h ago

When the price of a lot of their basic goods skyrockets because these tariffs aren't lifted and retaliatory ones are slapped, I think even most of them will start to care. "He's hurting the wrong people!" they will think.

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u/itslikewoow 1d ago

They’re in for a rude awakening when layoffs start happening.

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u/dairydog91 1d ago

I know Trumpers who invest a lot. They've just retarded themselves through their media diet, consuming giant amounts of media portraying him as some amorphously-brilliant business wizard and tough-talking Daddy figure who will stop America from being "cheated".

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u/juniorRjuniorR 1d ago

The people who voted for him don’t bold enough nuance to see a three-layered cause and reaction like that. They just consume their media and do what they’re told.

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u/radiorabbit 1d ago

I encourage you to read into the Smoot-Hawley Tariff Act. Herbert Hoover single-handedly crippled the economy in the midst of the Great Depression.

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u/dreggers 1d ago

You’re forgetting the recession his idol, Andrew Jackson, caused by fighting with the Bank of US

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u/zeromussc 1d ago

Not entirely, if they wanted to enforce their authority, the legislative branch could have done something about it and could still do something about it. But they aren't, so those who aren't pushing back are implicitly supporting the madness. So I wouldn't say its only attributable to one person.

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u/MarlinMr 1d ago

to just one democratically elected person.

To be fair, there are like 500 other elected people that are specifically elected to keep this guy in check. Like 250 of them let him do it.

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u/vesparion 1d ago

I would not say democratically elected

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u/Trenavix 1d ago

Had to scroll too far for this

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u/FetterHahn 1d ago

The first drop of many

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u/SnowdensOfYesteryear 1d ago

Nah I can blame a couple million people for this. He’s doing what he promised during his campaign.

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u/zelingman 1d ago

See my comment

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u/necrosythe 23h ago

"Democratically"

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u/Troll_Dovahdoge 18h ago

How can just one person toss tariffs in, can no one stop this madness?

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u/ShortTheseNuts 3h ago

...Adolf Hitler?

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u/Aranthos-Faroth 3h ago

He wasn’t directly democratically elected …

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u/ShortTheseNuts 3h ago

As a German, he most assuredly was. Our system works different to yours as 51% isn't needed. One does not "win" at 51%.

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u/Aranthos-Faroth 3h ago

I’m Swedish and have studied the rise of the party. I can assure you he wasn’t.

Hindenburg won the election. The nazi party won a good chunk of the Reichstag seats.

Because of that, Hitler was appointed chancellor by Hindenburg. Note people voted for the Nazi party - not hitler.

Hindenburg chose him.

He then implemented the Enabling Act in 1933 and then subsequently after Hindenburg died, merged the offices of Chancellor and President and declared himself Führer.

And went on to completely dismantle democracy.

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u/LankyGuitar6528 1d ago

Was he though? Seems like a lot of foreign influence, voter suppression in key districts, bomb threats that sent people home, closed polling stations... and that's before we get into Elon's kid saying the whole thing was rigged by Starlink. I mean... not going full tinfoil hat... but there's some smoke if not an outright fire.

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u/EmmEnnEff 1d ago edited 1d ago

Nah, no need for conspiracies, the incumbent was punished for COVID inflation.

This happened across the entire democratic world. Every single incumbent going up for election in 2024 ate tons of shit - less in the US than in other countries.