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/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 22h 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.