Support NeoGAF

[Great Auk]

This is the thing that bugs me about this the most. Who the fuck wants to sew Abercrombie and Banana Republic tshirts in a sweatshop. We dont even like working in fast food and literally demand $15 an hour to flip burgers. Who the fuck is going to sit there for hours on end doing menial tasks.

Bring back high paying jobs these cunts are shipping off to India. No one is going to fill these jobs even if factories are somehow miraculously spun up in the next few months.

You say "we" as if you are able to speak for 300+ million Americans. You and I would NEVER work in a shoe factory. I will guarantee you that tens of thousands of Americans would.

In fact they do, they still manufacture shoes in the USA. They still manufacture clothing apparel in the USA.

People only don't want to work certain jobs because they don't want to be paid slave wages.

 

[StreetsofBeige]

You say "we" as if you are able to speak for 300+ million Americans. You and I would NEVER work in a shoe factory. I will guarantee you that tens of thousands of Americans would.

In fact they do, they still manufacture shoes in the USA. They still manufacture clothing apparel in the USA.

People only don't want to work certain jobs because they don't want to be paid slave wages.

People would for sure take those jobs. Heck if every WM and McDonalds is fully staffed with endless job applicants, I'm sure factory jobs paying triple would have giant lines of applicants. There's always people wanting to work with some blue collar skills to offer.

 

[natjjohn]

 

[Celcius]

I'm so tired of billionaires ruining the world

 

[Rentahamster]

I'm so tired of billionaires ruining the world

 

[Nocty]

 

[Maiden Voyage]

Jesus I should not have looked at my portfolio today.

 

[Great Auk]

Jesus I should not have looked at my portfolio today.

Stock market was overinflated anyway. It'll bounce back.

 

[Maiden Voyage]

Stock market was overinflated anyway. It'll bounce back.

Inflation won’t. This is bad. Really bad.

 

[Ecotic]

There's just simply going to have to be a quick reversal of this policy, or it's likely there's going to be a recession or even a black swan event. The phones have to be burning up at the congressional offices.

 

[Great Auk]

Inflation won’t. This is bad. Really bad.

I can almost guranatee you that there will be deals struck and half these tariffs will disappear. You can't panic. EU is already saying to make a deal.

 

[SlimySnake]

You say "we" as if you are able to speak for 300+ million Americans. You and I would NEVER work in a shoe factory. I will guarantee you that tens of thousands of Americans would.

In fact they do, they still manufacture shoes in the USA. They still manufacture clothing apparel in the USA.

People only don't want to work certain jobs because they don't want to be paid slave wages.

i pointed out the Fastfood salaries for a reason. Those are the people who will work those factory jobs and they are not going to want the cheap sub minimum wage jobs.

Factory jobs in the u.s are actually very well paid thanks to decades of union negotiations. They all make $100k a year making cars.

Sewing clothes and nike shoes are not even going to be worth $7.50 or minimum wage. And unlike fast food resturants, its going to be non stop work. No one is going to want to do it.

lookup what happened when they had americans work on farms. no one lasted a full day out in the fields. people hire mexicans for a reason.

 

[SlimySnake]

i would rather play as fat lesbian Aloy than live on the streets during the great depression 2.0. probably having to suck dick for food. I deserve this for complaining about Drunckman and Sony's wokeness.

 

[Nocty]

It's pretty telling were in a broader bubble given 90% of fintwit participants have never seen a real bear market

~2 to 5 % down days are nothing, I lived trading through 2008, we are not even close to that level of fuckery. I literally whitnessed people jumping out of office buildings in NY. I distinctly remember one firm in particular so confident in 'buying the dip' that they went max leverage and within 2 days went from multi billion dollar fund to bankrupt in 48 hours. Things got nutty. People were remortgaging their houses to go all in and the makret continued to correct another 30% down, wiping the floor with most. It was pure chaos.

Bear Stearns was just one story of the time, it was wild, I will never forget Jim Cramer telling people to buy the fear as it melted to 0

 

[Great Auk]

i pointed out the Fastfood salaries for a reason. Those are the people who will work those factory jobs and they are not going to want the cheap sub minimum wage jobs.

Factory jobs in the u.s are actually very well paid thanks to decades of union negotiations. They all make $100k a year making cars.

Sewing clothes and nike shoes are not even going to be worth $7.50 or minimum wage. And unlike fast food resturants, its going to be non stop work. No one is going to want to do it.

lookup what happened when they had americans work on farms. no one lasted a full day out in the fields. people hire mexicans for a reason.

A little more than half of all agriculture work in the United States is done by Americans. It's not all illegals.

Americans will do the work otherwise it wouldn't be the majority of the workforce.

 

[violence]

It doesn’t feel like it now, but it’ll go back up.

 

[StreetsofBeige]

It's pretty telling were in a broader bubble given 90% of fintwit participants have never seen a real bear market

~2 to 5 % down days are nothing, I lived trading through 2008, we are not even close to that level of fuckery. I literally whitnessed people jumping out of office buildings in NY. I distinctly remember one firm in particular so confident in 'buying the dip' that they went max leverage and within 2 days went from multi billion dollar fund to bankrupt in 48 hours. Things got nutty. People were remortgaging their houses to go all in and the makret continued to correct another 30% down, wiping the floor with most. It was pure chaos.

Bear Stearns was just one story of the time, it was wild, I will never forget Jim Cramer telling people to buy the fear as it melted to 0

Covid was a disaster for 3 weeks straight in 2020. And then to top it off end of March lots of office jobbers (me included) were asked to go home and work. No timelines yet. Just WFH until we tell you to come back which was...... 2 full years.

Also, the dot com April 2000 bust was way worse than tariffs (at least so far). Every big tech company probably got cut in half and all the internet flame outs dropped to pennies and many closed up shop.

 

[dem]

It doesn’t feel like it now, but it’ll go back up.

Or buying NVDA last month was like buying INTC in 2000....

If you held the SP from 2000... for like.. 10-15 years... your return was basically nothing.

It's been like.. 2 fucking days. Jesus christ.


A few years ago it was a huge deal that Apple passed 1T market cap.
Now their Market cap is 3 Trillion and yesterday they lost 300 billion in market cap like it was nothing. The market is insanely overvalued. This can continue for a long time. Who knows if it will... but it can and has before.

 

[Maiden Voyage]

Look on the bright side

 

[Atrus]

A little more than half of all agriculture work in the United States is done by Americans. It's not all illegals.

Americans will do the work otherwise it wouldn't be the majority of the workforce.

To get that value you have to include family workers who are declining over time as successive generations avoid the business and farms increase in size, efficiency and complexity as more capital results in large corporate owned farms. Of actual hired farm workers, US citizens are not the majority.

Legal status of hired crop farmworkers, fiscal 1991–2022 | Economic Research Service

The share of hired crop farmworkers who were not legally authorized to work in the United States grew from roughly 14 percent in 1989–91 to almost 55 percent in 1999–2001; in recent years it has declined to about 40 percent. In 2020–22, 32 percent of crop farmworkers were U.S. born, 7 percent...

www.ers.usda.gov

This is pretty much a standard story in first world countries where farms have to move toward advanced technology and automation to add value and productivity. Sacrificing productivity to work rice paddies and pick fruit is inefficient, costly, and hurts business competitiveness.

 

[dem]

lol at trump calling for rate cuts..

this is madness

 

[AlphaDump]

He said he was gonna, and a lot of us tried to warn you this would happen.

Welcome to the find out phase, assholes.

 

[Great Auk]

He said he was gonna, and a lot of us tried to warn you this would happen.

Welcome to the find out phase, assholes.

Stop panicking

 

[Great Auk]

To get that value you have to include family workers who are declining over time as successive generations avoid the business and farms increase in size, efficiency and complexity as more capital results in large corporate owned farms. Of actual hired farm workers, US citizens are not the majority.

Legal status of hired crop farmworkers, fiscal 1991–2022 | Economic Research Service

The share of hired crop farmworkers who were not legally authorized to work in the United States grew from roughly 14 percent in 1989–91 to almost 55 percent in 1999–2001; in recent years it has declined to about 40 percent. In 2020–22, 32 percent of crop farmworkers were U.S. born, 7 percent...

www.ers.usda.gov

This is pretty much a standard story in first world countries where farms have to move toward advanced technology and automation to add value and productivity. Sacrificing productivity to work rice paddies and pick fruit is inefficient, costly, and hurts business competitiveness.

I don't disagree with you generally speaking.

Hopefully with more automation there will be less need for migrant labor. I just don't like the argument that we need an army of illegals so that we can eat.

 

[JayK47]

Yeah, about that....



EU still needs to join in on the fun. And Japan.

Soon is not a day to the stock market. But feel free to freak out like the media wants you to. Or if you are rich, buy more stocks. They are on sale right now.

 

[Haint]

Or buying NVDA last month was like buying INTC in 2000....

If you held the SP from 2000... for like.. 10-15 years... your return was basically nothing.

It's been like.. 2 fucking days. Jesus christ.


A few years ago it was a huge deal that Apple passed 1T market cap.
Now their Market cap is 3 Trillion and yesterday they lost 300 billion in market cap like it was nothing. The market is insanely overvalued. This can continue for a long time. Who knows if it will... but it can and has before.

Valuations ballooned to comical levels cause the US alone printed $16 trillion new dollars during Covid. Every other country in the world did the same. Apple didn't appreciate to 3 trillion, the dollar depreciated to 50 cents.

 

[AlphaDump]

Stop panicking

Says the guy with 6 posts out of the last 25.

No need to gas light. Smart people knew this would happen. The find out phase is also known as the "i told you so" phase.

 

[Toons]

"Stable" is a load bearing term here

 

[Great Auk]

Says the guy with 6 posts out of the last 25.

No need to gas light. Smart people knew this would happen. The find out phase is also known as the "i told you so" phase.

I just happen to have some free time to comment on a range of topics, not just this thread.

 

[Twinequinox]

Been hoarding cash for a while now. Looks like a decent time to jump back in.

 

[SlimySnake]

So close to a repeat of 9/11. Reminds me of this onion article reposted just yesterday.

 

[Elog]

This is far from over. Stay on the sidelines longer if you have that choice. Moved out of USD denominated assets one month ago (did a Buffett) and do not regret that for one second.

 

[Yoshichan]

jfyi all

i somehow managed to invest all my life savings on a bunch of stocks that reached ATH at the start of this year

it's never been this over

never ever

 

[pel1300]

I noticed on the leftwing youtube channels, not a single one of them or their audience comments are saying how it's a good time to buy into the market now.....and none of the comments say it either, but everywhere else on social media everyone is saying they are buying the dip.

I wonder if the audiences of these leftist channels just don't invest period....or if they are all low income living paycheck to paycheck and therefore can't afford to invest. I'm pretty certain the pundits running the channels like Kyle Kulinski, Krystal Ball, David Pakman, etc invest a ton in the stock market, weird how they never mention it or advise their audience to invest in order to beat inflation.

 

[Haint]

So close to a repeat of 9/11. Reminds me of this onion article reposted just yesterday.

It just hit -5.75% on the day a few minutes ago

 

[Elog]

I noticed on the leftwing youtube channels, not a single one of them or their audience comments are saying how it's a good time to buy into the market now.....and none of the comments say it either, but everywhere else on social media everyone is saying they are buying the dip.

I wonder if the audiences of these leftist channels just don't invest period....or if they are all low income living paycheck to paycheck and therefore can't afford to invest. I'm pretty certain the pundits running the channels like Kyle Kulinski, Krystal Ball, David Pakman, etc invest a ton in the stock market, weird how they never mention it or advise their audience to invest in order to beat inflation.

All the professional investors are moving towards the exists still - not a rout - but a consistent reallocation from equities to bonds or cash, and from USD denominated assets to assets denominated in other major currencies. This is not a left wing bubble. It is a real increase in underlying risk due to uncertainty across the board but in particular in the US (the increase in uncertainty and hence risk is 3-4x larger in the US compared to elsewhere).

Be careful out there.

 

[HoodWinked]

jfyi all

i somehow managed to invest all my life savings on a bunch of stocks that reached ATH at the start of this year

it's never been this over

never ever

the Buy High, Sell Low

 

[Forsete]

What is the tally of destroyed monies since Liberace day?

 

[Nocty]

jfyi all

i somehow managed to invest all my life savings on a bunch of stocks that reached ATH at the start of this year

it's never been this over

never ever

as long as you are not leveraged, and don't have to forced sale, just ride it out good sir.

There are going to be more pain ahead but in the long term it will just be a candle on a long chart.

 

[Gp1]

as long as you are not leveraged, and don't have to forced sale, just ride it out good sir.

There are going to be more pain ahead but in the long term it will just be a candle on a long chart.

The famous "go do something else" and forget about terminal for a week or so.

 

[Badlucktroll]

i put alot into sqqq and bnd for right now. it stopped the loss for now

 

[Nocty]

The famous "go do something else" and forget about terminal for a week or so.

we have the perfect hobby for it. Find a good RPG and get lost for a few weeks. I do think it will be a longer decline personally but the rule still applies. It doesn't do you any good selling when things are red.

 

[dave_d]

The famous "go do something else" and forget about terminal for a week or so.

Well there's the old saying, "The best investors are either in a coma, dead, stuck in the middle of the ocean with a broken radio, or have lost their password."

 

[freefornow]

it’ll go back up.

It could also just go sideways from the lows. "Coiling" of the market is common for short periods, but we could be looking at a "lost decade" if the stubborness of leaders trying to save face continues.

 

[JayK47]

Definitely went lower today, but seems to have bottomed out. We'll see what happens next week. Stay tuned.

 

[Badlucktroll]

 

[AJUMP23]

 

[Forsete]

Looks a bit worse here but OK, art of the deal.

 

[Yoshichan]

as long as you are not leveraged, and don't have to forced sale, just ride it out good sir.

There are going to be more pain ahead but in the long term it will just be a candle on a long chart.

no leveraged, no need to sell, I have enough capital to survive for a few years - but god damn man. God damn.

 

[Liljagare]

Might be a good time to buy gold(resource) again. Overall it still has always kept on trucking upwards.