#maganomics

[tomorrowusa]

It's only fair that companies run by Co-Presidents Trump and Musk should feel the pain they are causing everyone.

Trump pushes ahead with tariffs as stock market has ‘worst day of 2025’ amid recession fears: Live updates

[backroombuzz]

Clueless Joe Biden Takes Credit For Booming Economy: Donald Trump ‘Inherited’ It [Video]

Clueless Clown, Joe Biden decided to take Obama's lead and try to take pathetically credit for President Trump’s booming economy. 

WATCH THE VIDEO https://wp.me/paPtMB-55j

Read the full article

[ncpssm]

MAGANOMICS could be disastrous for seniors and the working class.

[tomorrowusa]

101 Days into Trump 2.0, we're halfway to recession

A recession is regarded as two consecutive quarters of shrinking real GDP. In other words, a decline in GDP for a total of six months.

Thanks to Trump's tariffs, trade wars, and mass firings, the size of the American economy is now shrinking. If this continues through the end of June, we will officially be in recession.

U.S. recession risk leaps as GDP shrinks for the first time since 2022

President Donald Trump's trade policies could be setting up the U.S. economy for its first recession since the Covid crisis of 2020. The U.S. economy contracted sharply in the first quarter, according to an early Commerce Department estimate published Wednesday, as the impact of tariffs triggered a record surge in imports and slowed domestic spending.  First-quarter GDP was pegged at -0.3%, down from the positive 2.4% pace recorded over the final three months of last year and well shy of Wall Street's forecast for an advance of around 0.4%. The contraction marks the first time the economy has shrunk since the first quarter of 2022.  Overall consumption slowed to 1.2% from 2.7% over the final months of last year, the data indicated. Government spending contracted 0.25% following a rise of 0.52% over Q4 2024

We had one quarter of post-COVID negative growth in early 2022 but the economy rebounded during the second quarter which prevented recession. Since then, the US economy had been in growth.

In the last quarter of 2024, when Biden was still president, the US economy grew at a healthy 2.4%. Then Trump came back.

Republicans have caused 10 of the last 11 recessions. Trump is eager to make that 11 of the last 12.

Somehow, Republicans have been remarkably successful at convincing a lot of saps that the GOP is good for the economy. In fact, they help only the filthy rich.

What we are going through right now is TOTALLY intentional on Trump's part. It is part of his effort to undermine America.

You need to repeat at every convenient opportunity in real life that Republicans suck for the economy. If you don't get hoarse from saying that, you're not repeating it enough.

[tomorrowusa]

Even billionaires who attended Trump's mini-inauguration have been losing money since The Orange One took office.

FYI: January 17th was the last day stock markets were open during the Biden administration.

Of course the bulk of that loss has been for "Apartheid Elon" Musk. Nobody wants his SwastiKars any more.

Tesla sales plummet as market competition and anger at Elon Musk grows

Don't support broligarch businesses and social media. Make them feel your financial pain.

Quit/Delete/Leave Meta (Facebook, Instagram, WhatsApp, Threads, etc.) and Twitter/X. NO EXCUSES!

Use DuckDuckGo and other alternatives to Google. At least sign out of Google when you're not using it; deprive Google cookies of your data.

Use privacy-friendly Mozilla Firefox instead of Google's Chrome.

Quit Amazon Prime or at least pause it indefinitely. If you do business regularly with merchants there, contact them and ask if you can do business with them directly instead of through Amazon.

Check to see if you have any investments in broligarch corporations. Mutual funds may be investing your money in broligarch entities like Meta, Tesla, Amazon, and Alphabet Inc. (Google). Make your investments serve democracy instead of destroy it.

[tomorrowusa]

« Conservatives don’t worry about Trump’s undisguised authoritarian ambitions because they think he’s going to use his powers for policies they believe in. In part, that is true. But Trump is also determined to implement a tariff agenda most conservative elites understand would have disastrous ramifications. Maybe the authoritarianism, criminality, and racism aren’t worth it? »

— Jonathan Chait at New York Magazine.

Some rightwingers were perfectly fine with Trump's authoritarianism and ambition to be "dictator" on day one. Although racism and shredding the US Constitution don't phase them, Trump's promise to impose tariffs of up to 20% have them horrified.

MAGAnomics would result in the biggest unforced error in US economic history.

[tomorrowusa]

5 things to consider buying before new tariffs take effect | CNN Business

While there’s a lot we don’t know about President-elect Donald Trump’s tariff plans, at least one thing is pretty certain: Tariffs will go u

The upcoming Trump Tariffs could provide an unintentional temporary boost to the economy – which will end on January 20th.

People who don't wish to pay 10% to 25% more for various goods when Trump takes office are advised to buy them sooner rather than later.

Already, Trump announced he will slap a new 25% across-the-board tariff on imports from Mexico and Canada as well as an additional 10% tariff on Chinese imports the very day he’s inaugurated. And on the campaign trail, he pledged to levy a 60% tariff on all goods imported from China and a 10% to 20% tariff on goods coming from all other nations. Such tariffs have the potential to significantly increase the prices consumers pay on nearly everything that isn’t made entirely in the US, of which there are very few goods.

Tariffs are paid by those who import the goods – NOT by the exporting countries. Many idiots just don't get that.

Tariffs are a tax on imports. Governments often impose them to protect national security, bolster domestic businesses and raise revenue. But they can be expensive for consumers, as businesses often pass along higher costs. In total, the typical middle-income US household could be stuck shelling out more than $2,600 extra a year if a blanket 20% tariff on all imports and a 60% tariff on imports from China are imposed, according to research from the Peterson Institute for International Economics.

Yep, tariffs are a TAX. The money goes to the government. Perhaps Trump thinks that he can tax consumers more to pay for more tax breaks for the pathologically rich like Elon Putz.

These are the five categories of items which CNN says would be good to buy now rather than after Trump returns. See the linked article above for details

Major household appliances

Laptops and tablets

Smartphones

Video game consoles

E-bikes

Another category would be imported foods. But their perishability would put a limit on how much you will save. Some items with naturally longer shelf-lives might be worth buying soon. Many teas come from China; my Bigelow Oolong tea, for example, has an expiration date of May 2027. I might as well buy a few more boxes of tea in coming weeks.

When you talk about tariffs, never forget to remind people who is responsible for them. Always call them Trump Tariffs.

[tomorrowusa]

Trump tariffs are to the economy what Trump bleach was to COVID-19.