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Business, Economics, and Taxes: Eat Cereal for Dinner

Well now he is embracing the ridiculous take that he is crashing the market "on purpose" to screw over the rich, weaken the dollar and force the Fed to lower interest rates. Rolling Stone has a story about it with quotes from Trump people (Newt was one and anonymous rich people as well) who are dumbfounded he would promote that idea.
 
Handyman said:

Matt McDermott (@mattmfm.bsky.social)

It appears this is the fourth worst back to back day for the DJIA in American history with a two day combined -8.65% loss, only trailing the 1929 crash, 1987 Black Monday, and the 2008 crisis.
bsky.app
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I think it was the CNBC Closing Bell crew who made the comment that they were receiving a lot of texts from long financial contacts who said the last two days are identical to the setup to 1987's Black Monday.

They all said it likely won't happen, but the ominous clouds were rolling in, in identical ways.
 
Jimjamesak said:
Fun part is that this is just the beginning. Just wait until they try to pass a budget.
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In the previous 3 crashes the worst day was a week after the initial drop. Next week is going to be baaaaaad! BUY THE DIP!

Yeah the budget debacle might Hoover this whole thing.
 

Josh Sternberg (@joshsternberg.com)

NEW: Not even Target's seasonal discount sale (aka its version of Prime Day) could stop the ongoing boycott. For the 9th straight week, foot traffic is down y/o/y. Meanwhile, latest data finds Costco swaggering into its 14th straight week of foot-traffic gains...
bsky.app
 
Handyman said:

Josh Sternberg (@joshsternberg.com)

NEW: Not even Target's seasonal discount sale (aka its version of Prime Day) could stop the ongoing boycott. For the 9th straight week, foot traffic is down y/o/y. Meanwhile, latest data finds Costco swaggering into its 14th straight week of foot-traffic gains...
bsky.app
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The thing I've noticed about this trend, and all the talking heads have missed, is the obvious: Costco sells bulk, which is key in a recession.

I'm not going to pay $12.49 for 12 rolls of Quilted Northern when I can get 30 rolls of Kirkland for $24.99.

Those who knew what was coming started shopping at Costco a little more since December. A few others may have been persuaded by the whole Woke/DEI drama. And now more people can see the little stocks app red arrows and know what's coming.

Personally, I've never "qualified" for an Executive membership from Costco in the 15 years I've been a member. (The spend in store has never been enough to justify the added cost.) Guess who now shops for groceries and bulk goods in the past year to make it worth the tier jump?
 
aparch said:
The thing I've noticed about this trend, and all the talking heads have missed, is the obvious: Costco sells bulk, which is key in a recession.

I'm not going to pay $12.49 for 12 rolls of Quilted Northern when I can get 30 rolls of Kirkland for $24.99.

Those who knew what was coming started shopping at Costco a little more since December. A few others may have been persuaded by the whole Woke/DEI drama. And now more people can see the little stocks app red arrows and know what's coming.

Personally, I've never "qualified" for an Executive membership from Costco in the 15 years I've been a member. (The spend in store has never been enough to justify the added cost.) Guess who now shops for groceries and bulk goods in the past year to make it worth the tier jump?
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I have The Executive...I haven't been spending enough to make it worth it but this year I will for sure! Hell TP alone will make it worth it.
 
aparch said:
The thing I've noticed about this trend, and all the talking heads have missed, is the obvious: Costco sells bulk, which is key in a recession.

I'm not going to pay $12.49 for 12 rolls of Quilted Northern when I can get 30 rolls of Kirkland for $24.99.

Those who knew what was coming started shopping at Costco a little more since December. A few others may have been persuaded by the whole Woke/DEI drama. And now more people can see the little stocks app red arrows and know what's coming.

Personally, I've never "qualified" for an Executive membership from Costco in the 15 years I've been a member. (The spend in store has never been enough to justify the added cost.) Guess who now shops for groceries and bulk goods in the past year to make it worth the tier jump?
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Doesn’t hurt that Costco’s business model makes it pretty resilient in a recession. Even when people aren’t shopping they still pay for membership so Costco still has income.
 
walrus said:
Really, People are worried about games when they probably won't be able to afford food?
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Nintendo has a very dedicated fanbase. Plus they’re the go to for rich fucks when they want their little crotch stains to be entertained.
 
Jimjamesak said:
Nintendo has a very dedicated fanbase. Plus they’re the go to for rich fucks when they want their little crotch stains to be entertained.
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Plus I’m sure there are plenty of poorer people who use it as a distraction. If you aren’t playing freemium games or loading up on DLCs gaming is cheap in the long run. Heck, as discussed earlier, there are people mad games are going up 10-20 dollars when they’ve been stagnant for three decades.

If the administration really wants people to turn on them, take away their hobbies and leave them with the bleak reality.
 
Spartanforlife4 said:
Plus I’m sure there are plenty of poorer people who use it as a distraction. If you aren’t playing freemium games or loading up on DLCs gaming is cheap in the long run. Heck, as discussed earlier, there are people mad games are going up 10-20 dollars when they’ve been stagnant for three decades.

If the administration really wants people to turn on them, take away their hobbies and leave them with the bleak reality.
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Well, considering that they’re making nearly every way to play anything more expensive, I’d say that is likely to happen.
 
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