President Trump smartly remained quiet after delivering the economic thunder-shock with his national security tariffs and new global trade expectations. Now President Trump takes questions from the media about the initial reactions to the seismic event he created.
“China needs to solve the problem of the trade deficit with have with them,” is codespeak for China needs to open their markets to U.S. companies that have already established a footprint, AND China needs to purchase U.S. goods. Despite the size of China, President Trump knows Beijing will never comply in earnest, so he gives the Panda a few words, but doesn’t give it too much time until the Dragon comes out from behind the mask.
President Trump notes he has “spoken to a lot of leaders from Europe and Asia” this weekend. However, now is that powerful moment in any negotiation when the principal has clearly outlined his position, then remain silent as the opposition responds. The “tariffs are instituted, they are not going away,” Trump said.
When questioned about having a “threshold” of “pain he is willing to tolerate,” President Trump notes the “question is stupid.” We are responding to opposition who are playing a zero-sum game, there is no level of pain too intolerable when ultimately your survival as a nation is at stake. Either we do, and win – or, we do not and die, that is our current status.
When questioned about having a zero-tariff agreement with Europe, President Trump references the scale of the imbalance. “There’s no talk possible” with the EU unless they acquiesce. Every country wants to make a deal, but “this is not sustainable” President Trump repeats.
When questioned about Tik Tok, President Trump notes there was a likely deal with China, but then Beijing responded to the tariffs and said the deal around the social media platform ownership was no longer possible. Trump doesn’t care, he wants a TikTok deal; but ultimately, the tariffs are more important.
President Trump then weaves through the Russia conflict, bombs are still bad, and the Middle east conflict, Gaza is still full of terrorists, and moves directly into domestic national security.
President Trump then reaffirms he has not agreed to reduce, soften or smooth any tariffs against any nation. The tariffs are in place, they will remain in place, and the global trade reset will continue until America wins. Period.
The remarks were ‘Full force Big Ugly‘ and the winnamins were flying off the shelves for 15 straight minutes. I could not be more proud of our president.
HOLD THE LINE !
No pain no gain.
Biden:
No brain not sane.
No brain, NO PAIN
(bwaaahahahaha)
No brain, no brain.
“(Insane in brain/ Got no brain!)
Good luck with that communication strategy when talking to people who lost $20,000, $50,000, $100,000 or more last week.
Yes, there will be a reset in the stock market that will recover. Yes, people should diversify their retirement funds.
Telling people, “You’re stupid” or stupid things like “no pain, no gain” contributes to the media narrative that we don’t care who we hurt as long as we hurt a lot of people. Or something.
A better approach that you should consider, that doesn’t come off like “too f*cking bad, idiot”, is to encourage people to seek safer assets, talk to their financial advisor, and “buy” because when the market rebounds, they’ll have bought low.
Your approach is like getting T-boned at an intersection in your crappy car. You realize in the long run you’ll be better off because a new car will be the result. But next to you in the car is your 12 year old bleeding and scared as you yell, “no pain, no gain!”
You get it.
God bless.
And you’re insufferable.
Nailed it TW.👌
Biden’s diaper changer is back.
Yep, apparently…👍
I think a lot of people are just tired of being cordial to each other.
There’s no pain, unless you do something stupid, like sell when you’re down. Losses are only realized when positions are closed out. The battle is a L-T one. Be ready to weather some S-T tough moments. But in the long run, this is a winning and much overdue battle we need to fight our way through!
As you said yourself, this could very well be a chance to buy low.
There’s a reason Warren Buffet, regardless of what you think of him, spent most of the last year selling his positions when the market was high and is now holding cash. He knew what was coming. He wanted to have a pile of cash for this discount opportunity. If you want to make money in stocks, scrounge some extra money together and when he starts buying again, do the same.
This is the time to be looking to buy, not sell.
Bingo!!
I have been buying stock.
It looks like it’s on sale to me.
On the other hand, if one has that much money to invest in stocks, they should consider themselves much more fortunate than the majority of working Americans who live paycheck-to-paycheck or who’ve lost their jobs and can’t find a decent one.
If you “lost” that much in paper, imagine how much you still have. You’ll be ok, and recoup your paper loss back just by being patient.
You cannot expect the many who’ve lost everything and have no hope of ever getting ahead to exhibit patience toward the comfortable few who whine about a little discomfort.
President Trump is doing what is necessary to save the country. We’ll all feel a pinch, including those who’ve already been suffering. But the ones who’ve been suffering and can’t get a leg up are precisely the ones he’s doing this for – which might explain the “shaddup and quit whining” attitude.
truth. I see PDJT as a friend, and what he is doing is necessary. I am kind of awestruck. Go Trump!
Yeah, sorry. Since are talking about car wrecks….Still remembering that 2008 ‘Mortgage Meltdown’ rip off. You all remember, the one where Wall Street destroyed our entire economy. Via greed, lies, and theft. The biggest theft in American history where NO ONE WENT TO JAIL. Never letting a crisis go to waste Obama and his Trolls knee capped the American auto industry and ripped off the pensions of the American car parts employees. By the way all those Union bosses were OKAY fine with it all…they got paid off.
So excuse me if I have no real concern about tender feelings of those who play the Stock Market….which is a total scam. Constantly ripps off 401K’s every chance they get, even a fart can inspire a sell off.
BTW that money doesn’t disappear. It goes somewhere. Goes to someone else. Money is a tangible thing.
So this time at least Americans can get something out of it. We are around $37 Trillion in debt. The ship is sinking, let the rats jump off. I’m in for the whole ride.
And I don’t care who is butt-hurt about Tariffs. I want my country back in one piece. Trump is saving lives. He is saving OUR lives. That includes the 12-year-old in the car wreck….or any other ‘sad sack’ story where the precious ‘markets’ are vomiting our wealth to their rich pals AGAIN!
Truth matters.
Hear, hear DiO. Speaking the truth for the rest of us!
They didn’t “lose anything” last week. Neither did I.
Numbers on paper/screen went down. Mine did.
What are you actually saying? That I should worship numbers more than anything in a Globocasino investment house? That national policy should follow emotion rather than reason?
Dems in my area are working to change state law so they can raise house taxes 5% each year (it’s presently capped at 1%). This will mean doubling of property taxes every 14 years, but they don’t say that, and most people are too stupid/arithmetic-ignorant to get it. GOP isn’t doing squat to stop it.
I pay more for property taxes and insurance each month than my mortgage was, when my husband and I paid it off four years ago. We worked HARD to save for a down payment and buy a house–and we had to wait till our early 40s to buy, because when we hit the job market in our 20s, mortgages were 15-18% and jobs were crap, and scarce, and required constant relocation (which is a stupid situation to buy a house in, because every time you have to sell, and rebuy, your mortgage interest resets at the fat front of the amortization curve).
There’s the lie/fantasy is that our house “went up in value.”
In fact the assessor makes the numbers bigger by formula, in order to prop up the taxation regime, now to cover the screeching demands of the tax parasite permaclass in the state capitol and county seat. Because the idea of doing productive, concrete work instead of gladhanding for DEI points scares and angers them.
And so I have to pay more for tax, and insurance, to let their formulas keep expanding.
THE VALUE OF THINGS IS WHAT THEY BRING WHEN YOU SELL THEM.
In the meantime, they are numbers. Period.
I am a new widow, thus retired without expecting it.
My life savings “took a hit” last week according to the numbers.
I am not hurt, I am replanning. I am looking at the numbers. I am praying and trusting God to guide me.
I am admittedly a perma-bear so have been saving up cash for a three-year expense/emergency buffer. And I continue to live very frugally, as I and my beloved husband always did.
I am an early GenXer. This set of changes has been overdue for 40 years, since that SOB Reagan turned this nation’s economy over to Globo’s finance, insurance, real estate casino. (His voodoo “FIRE” economy.)
Donald John Trump was warning about this BACK THEN.
I have watched and grieved as my ancestors’ republic has been turned into a combination gaming house, moneychangers’ table, and place of addiction and crime and despair.
I watched my productive home town get devastated and gutted by “deindustrialization.”
I watched as the Ed Biz and gubmint become employers of last resort.
If we don’t take sharp, disciplined, bold action now, there will be nothing left. If that costs me “$20,000, $50,000, $100,000,” I won’t like it.
But something has to give or young people won’t have a future of any kind in what the Dems created and the GOP has allowed.
I have been taxed out the wazoo my entire life, so was my husband. “Social Security” draining off 15% of my and my blessed husband’s wages, IRS taking another 15-20%, sales taxes of 10% or more, and all the other taxes.
THAT is what I want to see changed, the tax regime.
With SS alone, we could have had $1-2m more if starting in our 20s, I and my husband could have put that into an investment fund making 5% average. Instead? I can get a widow’s benefit of a fraction of that…while SS is paid out liberally to illegals and parasites.
“Markets” go up and down, and to gamble on those means wins and losses you can’t always predict.
I have been talking to friends for YEARS about all this. I have never stopped witnessing to what happened to my home town in the ’80s and ’90s.
If they want to keep using debt to buy the next bigger wide screen TV at Costco, and taking cruises, and getting stabbed for “covid,” and going LA LA LA LA…well, that’s not my problem when the pain hits them.
And I’m sick of standing up for them when all they care about is what the TV tells them.
If they are stupid, and short sighted, then that is the truth. I’m sick of massaging the Screen Addicts’ egos. The writing has been on the wall for a long time.
Donald John Trump has risked his life and survived getting his head blown off FOR THEM. He and his team have been shouting from the rooftops for at least a decade.
At this point, anyone who wasn’t listening IS stupid, and DOES deserve to hear that assessment.
I am very sorry to hear about your husband. He sounds like a wonderful life partner.
God bless, DAR. I appreciate your rant. Yes, I trust in the Lord and I know our President is doing what is right. It might be a bumpy ride for a while, but our children and theirs deserve to actually have a country where they can live free and prosper. Let’s all ride this out with a prayer on our lips and a song in our hearts!
Preach it loud & for all who need to hear Dar!
Sincerely. A Boomer…
A bit dramatic & I get the gist of your thinking. IMO part of the problem with where things stand is what you elude to i.e., the individual element. That particular component seems to be, most often, the only point, sadly. But, will not the individual element flourish even more if the WHOLE is flourishing also?
Peace…
Yes agree SW…
The tarrifs were the excuse for Wallstreet to drop the market by creating fear on Mainstreet & thus create a buying opportunity for themselves.
Fuel prices dropping, Saudi supply up…I always thought MbS was a high-potential playa, and remembering Trump throwing in on the sword dance always makes me smile
DON’T BE A PANICAN!
Now that prices are down, we will refill the SPR that FJB drained for political reasons to make the 2022 midterms more palatable for vote
And then, Congress must pass legislation boldly stating that Presidents may not drain the reserves for political purposes and gains. They must ONLY be used for real emergencies.
While they’re at it they need to add that Presidents may not stop our energy independence for made up Climate emergencies or any reason. America First and Drill baby, Drill!
Watching and learning while history is being made before our eyes.
God blessed us with Donald John Trump!
Certainly looks that way.
We will be looking at a manufactured step down of the market.
Big money nicks the.market .2 percent gets the AI going AI pauses big money buys 5 times the shares.they sold Ai announces.buying opportunities to the brokerage houses who hit the phones..Rubes buy in for a small ralley big money dumps again a trigger amount.AI sell sell.sell.
Rinse and.repeat.
If stock ever reaches the 1970s valuation formulas i would buy in Wallstreet will be out.of.control and.mainstreet will be the driver.
Just was checking Metals both Gold and silver heading down. My guess is folks are freeing up cash to try to buy in when they see a bottom.
I suggest that we encourage tariffs to be paid with treasury notes clawing back some debt.
interesting concept!
Define “Main Street”.
You may be living in a tiny bubble.
main street
noun
Your bubble has already burst.
Corporatist RINOs to President Trump…
“HEY!!! STOP IT! Put my missing billions back!”
I notice we haven’t heard any squealing from Democrats, who are sitting back, smiling, and letting RINOs do their dirty work for them.
As usual.
I despise all of them.
They are crooked as a dogs hind leg
Especially Nebraska RINO Rep. Bacon. What a chicken little corncob! (Nebraska really has not been sending any good congressmen or congresswomen who are conservative in 30 years….I am getting sick of it.). Then again, Warren Buffet runs Omaha and controls the only newspaper (The Omaha Herald). North Omaha is still a bad ghetto despite Buffett’s “investments”.). This is after Hunter’s buddy Devon Archer and a porn king of LA defrauded the Ogalla Sioux Nation out of $60,000,000 in their portfolio with fake investments that went only to luxury items .
I expected better from Nebraska, William. I really did.
Bacon looks the sort to to jab his stick into MAGA’s wheels.
Hoping his phone lines are on fire.
“haven’t heard any squealing from Democrats”
Their MSM Propagandists are doing the squealing for them. FOX keeps putting the squealers on almost every show.
Btw the only reason I’m watching that channel is because I don’t have cable and can’t get any other news channel. I could probably mirror something though. 🤷♀️
Turn off the nattering naybobs of negativity.
Just stop watching. Turn on classic rock and build model airplanes. I do, I’m a lot happier and more at peace. Support Trump all the way. It’s a great time to be retired and alive.
You’re getting solid reporting from this site. I watch ZERO news, only get my news via the Net & similar conservative sites such as this.
Dems are wise to just sit back and keep their mouths shut right now.
They’re experts.
Me too!
It’s a mistake to call it “stupid”, and the look on his face was that of someone who realized he took it too far.
In our zeal to reset the economy, we need to please keep in mind the millions of American investors who did not realize Wall Street would tank the market to try and stop the tariffs. A lot of people aren’t financially literate, and so they’re watching their 401K’s shrink precipitously.
There’s a lesson here about paying attention to your money and moving to safer assets as you get older. But that will be cold comfort to retirees or those near retirement watching their “savings” shrink.
The better approach is to remind people that the market will rebound like it did after COVID. A wave of panic selling will give way to a wave of oversold buying.
It was stupid for Trump to call people stupid. He knows better than that.
Encourage people to be patient, to talk to their financial advisor, and to not treat their retirement savings as a fire-and-forget missile.
Notice that he neatly avoided actually answering the question of the existence of a Trump put.
Controversial take:
Trump, Xi, and MBS are playing WWE tag team wrestling with the globalists, with a view to breaking the central bankers forever.
Notice that whereas the market spent years breathlessly waiting on what the Fed would do with interest rates – meaning the whole market would move on a 25 basis point (political) cut – now the market is moving based on the latest statement from the White House, or the response out of Beijing.
That is a big change in behavior.
What happened more or less the same day the US announced tariffs?
OPEC doubled production targets, making oil much, much cheaper.
Coordinated.
They are together perhaps going to walk this down a staircase, I think. Don’t disturb Grandma or the cat enough for the globalists to take advantage of or create a mass formation psychosis, while being careful what bubbles get popped and when (there are several) to slowly drain the fraud out of the market.
You know the President could wreck the whole market in a single day by arresting Jensen Huang for violating export controls shipping prohibited GPUs to China via Singapore, right? Yet he hasn’t done so.
Ammo. Control.
Why do I think Xi is in on it?
34
Remember how 34 indictments worked out for the US? Throw me in the briar patch, Br’er Fox.
34
34
Same same
Of course, you have to do it in public, no way around it, but you have to also do it also outside the Overton window of perception or you get a very, very angry populace breathing revolution.
But, but, but, that means China would be crushed? Maybe Xi understands that renting out your population as slave labor and human experiment Guinea pigs is not how it has to be.
Maybe he, like MBS, is rethinking the future of his country.
Remember the Xi Trump meeting alone in the Forbidden City?
What deals were made?
Just a thought.
Also, eyes on the 10 year note, moving the wrong way. Hat tip Nobody Special Finance.
I am nearing retirement age and have a modest 401k. In recent years it would have been prudent for me to move my investments from moderate risk into minimal-to-low risk, but I chose not to do so. My losses are significant, are based on my own decisions, and I own those decisions.
I have never watched my investments lose so much, so fast, and felt such a peace about it as in the last few days. It will most likely bounce back. Whatever happens, the cause is noble, just, historic, and worth it for the future of our republic. I remain 100% on board with the Trump tariff plan.
This is an economic revolution. I am not being called upon to pick up a gun and march into battle. At worst, I may have to delay my retirement plans a little. I may have to permanently give up some of the gains I made while riding the globalist coattails on the way up to market peaks, and I have little patience for whiners who fail to recognize the source (and ultimate cost) of their gains up to this point. What is required right now is clarity, resolve, and the ability to take a punch without crying.
Well said.
We’re down about $300k for the week … so back to sometime in 2023. Didn’t feel poor then. Been fully invested since the early 90s. Been through Y2K, financial crisis, COVID etc. Been told the entire time that “the end is near”. My main complaint is that in the 80s-90s no-load mutual funds were the best investment, but the 1986 tax law requires funds to pay out any realized capital gains annually so I have to pay tax on that next week even though the gain is reinvested and those reinvested shares are negative now.
My concern isn’t the market, it’s whether or not the market is signalling bad times ahead in the economy. The “no pain, no gain” idea sounds great on a t-shirt; might not work out so great in the real world.
When Reagan/Volcker beat inflation in the early 1980’s it was followed by one of the worst recessions in decades.
My sense on this correction is that it is a wave of mainly panic selling, like during COVID. Nothing has fundamentally changed about any of these company’s earnings.
My being required to take RMDs and pay fat tax on them is my gripe.
But this raises another issue:
Look at your retirement savings and lop off 1/5th, 1/4th or more.
TAXATION.
Forced payouts to parasites, exploiters, and the unproductive, many of whom hate those of us being taxed!
That’s great! I feel the same way. I was going my taxes yesterday. Because of the hyper-inflated stock market, I had to write a check to the IRS for more money. Next year, depending on how the DOW performs, I’ll get a cut in my tax bill which is nice.
Although my wife still contributes through her employer plan, I stopped and we instead use the extra cash flow to pay off the mortgage and help the kids with college. If we all enter the 2030’s with low or no debt, the ups and downs of the stock market will not affect us as much.
My point is only that we should be cautious around friends and family how we talk about it. Instead of the “rub some dirt it it” attitude many have, we should show a calm, patient, focused attitude.
God bless you, and keep you, and shine light upon you.
Oh wait…it is amply evident He already has.
I feel the same way…though am structured to somewhat higher risk, on the promise of leaving a legacy for others. We shall see. My husband and I didn’t need much in our life together. I continue to live very frugally.
But the general hysterics all around me are appalling. A man who barely escaped being assassinated in high def, and was attacked and beleaguered and savaged year after year by vile haters of this republic, is fighting fighting fighting to turn the supertanker.
In exactly the way he has said FOR FORTY YEARS needs to happen, and some of us saw it all along, and agreed, and never expected to see this day.
My ancestors froze at Valley Forge, got shot at Chancellorsville, and my father dug the meat and bone of other men out of the exploded guts of Navy ships, preparatory to repairing them in the South Pacific.
The gall of ANYONE living through this set of risky but potentially transformative challenges FOR US AND FOR THE ENTIRE WORLD to whine and wail!
My retired friend panicked and was going to cash out his 401k when COVID tanked the market. We had a long conversation, with me practically begging him to sit tight. In the end, he did sit tight and within literal days of that conversation, the market started to rebound. Victory belongs to the patient warrior.
Yep, we made a strategic decision in 2020 to buy some land to build our forever home on. If we had used that down-payment money and put it in stocks, we would have made a 50% return in 8 months or something crazy like that. As it turns out, we probably made a good move because the real estate bubble ballooned in 2021 and the land we eventually purchased started going for 50% more than in 2020. I’d much rather have the cheap land.
Also – Trump was not calling people stupid. He was referring to the question asked of him, when he said “That’s a stupid question.” The question was essentially, “How bad do things need to get before you capitulate and admit you’re wrong?” Stupid question.
A basic rule of public speaking is that it isn’t what you say, it’s what people hear.
They were stupid.
Stupid stupid stupid.
And he is telling them how to be smart.
And all they can do is heave their boobas about “Bad orange man called me stupid.”
It is time to run this republic on reason, experience, and wisdom.
Not emotion.
You stupid stupids!
Knowing that Israel is sort of this achilles heel for the right, i am surprised to read this AM that Israel has long-standing tariffs on the US and our products and Bibi may be including that in his topics during his visit…
what the actual eff???
whatever your opinions of the whole thing, Israel literally exists right now because of the flood of money and weapons we have fed them for decades, and i question the value that we have gotten out of it. so even if you aren’t a fan of tariffs, this is a prime example of why we should be evaluating all our relationships… they have the audacity to stick it to us after what we have done for them???
Everyone tariffs us. We get treated like garbage by the rest of the world. To Israel’s defense, they did offer to drop all tariffs as soon as the announcement came that President Trump would be imposing sweeping tariffs.
It’s pretty telling when comments single out the Jewish state, while saying nothing of, say, Macron & Co.
What does it tell you ?
We’re all a bunch of raging antisemites because Israel is again screwing us, but we didn’t know.
Versus Europeans are crooked backstabbing #$%^$ that we knew from Trumps first term.
Your remarks tell me that you are a vitue signaling go along to get along.
Who can’t abide free thought or speech.
Thanks for your input Karen.
P.S. jeckel has gotten more than enough of our shekels.
yes yes, everything that questions anything to do with Israel in the slightest is anti-semitism…. incidentally this canard is why it is our Achilles heel, because we cannot have a rational conversation about it.
my point is that France has not had the entirety of the barbarian world ready to annihilate them for 80 years straight, much less TRY multiple times. we have stood in the breech to keep Israel safe moreso than arguably ANY other country since WW2, and tariffs are how they (and many others) have repaid us.
it is this reason alone that i stand in support of reciprocals, at a minimum.
We can have a rational conversation about Israel,
don’t mind the ill informed Christians, who can’t be bothered to study for themselves.
I’m calling the baby (Israel) ugly.
Prove me wrong, or ban me.
You are free to prostrate yourself before the Star of molech all day, every day.
Count me out.
Maybe instead, study your Bible and lose your irrational fear of all things jew.
( Btw, only a minority is Hebrew)
Psst, they either accept Jesus as their Lord and Savior,
or they too will have eternity to wish that they had.
They are not special, they don’t have a get out of hell free card.
France also doesn’t come to us with hat in hand every year begging for a few more billion US tax dollars, or else we’d roast them, too.
Why did they have tariffs in the first place.
I thought we were the bestest of friends.
I know we give them billions already.
exactly my point. methinks they will be more forgiving, but its sort of like Europe – we’re all great allies… until you discover that we’ve basically BOUGHT our friendship, and as soon as that spigot ends, you see what they really think of us.
i believe there is a term for that profession….
I call them girlfriends, how about you?
Meaning..if President Trump was not in office right now, Israel’s tariffs would have continued.
Is there any country out there, from January 21, 2021 to November 5th, 2024, that said, “Gee, we really ought to quit having our friend, the USA, bending over and taking it”?
With friends like these…
Ok first issue,
To Israel’s defense ????
They DID offer to stop stealing the change from our pockets,
provided that we keep giving them the dollars out of our wallets.
Excellent. Robert Barnes talking tariffs. Start at the 44 minute mark
https://rumble.com/v6rqf5l-ep.-258-taibbi-sues-for-defamation-trump-tariff-madness-russell-brand-green.html?e9s=src_v1_ep
This is a really good analysis. Thank you for posting this!
Seems reasonable to me, Mr. President.
We’ve been auctioning off our birthright for quick cash for decades. Don’t turn tail and run whimpering just ’cause the cure seems scary.
But what about the 64 year old MAGA voter who watched his retirement savings drop by $30,000 last week? Eff that guy, too? Do we buy more coffee cups for the tears of our retired elderly parents living off their IRA who got caught by surprise last week?
I’m 55, so I have time to recover. Next year, I’ll get a huge tax break due to the losses. But a lot of your MAGA friends and neighbors are scared.
How about everyone on here reassure their friends and family instead of coming off like suicidal maniacs screaming “burn it down! Stupid losers!”
The other day my sweet DIL asked me if I thought we are headed for a depression. Like what do I know? Anyway I reminded her that the media is out to destroy Trump anyway they can and whatever they are saying cannot be trusted or believed. I don’t know if she was reassured but I do believe that when the left screams the loudest it means that Pres Trump is doing something right. There have always been cycles in the stock market as others here have so clearly pointed out, and the market has always recovered. The losers will always be the panickers who bail out when the market tanks. Buy high, sell low, right? Never understood that mentality. Anyhoo, just my 2 cents.
Blackrock and others will not let the market harm them. Always keep that in mind. They exist because of the stock market.
We tell them it will turn around within a year and boom – and if this works out, they don’t have to lose 30% or more to income taxes every time they take a required minimum distribution.
The tax on the RMD is one of the most blood sucking taxes out there. And it is ridiculous. I’m convinced the system was designed to make people set funds aside into a pot where their life’s blood could be more easily stolen, while assuring they could not compete in capital formation for small businesses, or to help the next generation.
The whole system is designed by thieves.
The whole system is whack.
The 70 year olds WILL be better off, by far, in 2 years. They too, must hold the line to get there.
No Promised Land without some desert.
This right now is also why POTUS rolled out the no tax on Social Security promise.
He needs to expand it — to no federal tax on RMDs now, at least for 2 years.
A lot of seniors with artificially inflated portfolio values for Dec 31 are going to be forced to take inflated RMDs and pay inflated taxes on those 2025 distributions. It is not fair.
Go for it, Mr. President. No taxes on RMDs this year.
Please.
RMD’s have never made sense to me. Cradle-to-grave control by the Money Printers.
Cradle to grave tax upon tax that goes into the pocket of the likes of Chuck Schumer, Nancy Pelosi, Mitch McConnell, Thune, Cornyn who hang around DC forever printing money ever more worthless than the dollar they took from us the first time.
I’m 71, so not in RMD-land yet but my wife is older. Also inherited an IRA from my Dad, so have RMD on that. The secret is to do a QCD if you can for it, since it is deductible without having to go through Sked A/standard deduction hoops. So we get the charity deduction plus standard deduction.
Though the issue is that your RMD is based on Dec 31, 2024 value, not current value.
And I’m all for being charitable, but it’s like they’re forcing you to be charitable so you’re not taxed. Make that make sense. That is still them/they/the money printers telling you what you can do with your money.
If they left well enough alone, retirees would willingly put money back into the American economy, they would still purchase. This penalizing has got to stop…you about have to be a money contortionist to figure out the tax code. 🤣😊
It is my belief that 401K’s were designed to lure people into a situation where they have no clue what they are doing. Their money is being manipulated and most do not understand the egregious taxes they will pay out.
There should be no income tax AT ALL. Not just RMDs that exist to levy an income tax…eliminate the income tax entirely.
And I think that might be the plan, but they want to see how the tariffs shake out in terms of total revenue.
> The tax on the RMD is one of the most blood sucking taxes out there.
THIS RIGHT HERE.
People scream about a market downturn…but every year I’m forced to take RMDs (my husband had an inheritance from an elderly friend he cared for, who had RMDs, so husband had to take them, and now I do)…every year, that means an AUTOMATIC destruction of 1/5 to 1/4 of retirement income!
That’s on top of the 22% hit we already took with Bidenflation/loss of buying power of the dollar.
Agree Hokkoda. As in all wars, this one an economic one up until now, there will be “civilian casualties.” We should not revel in those.
Hokkoda, hope this helps. I am in retirement, leaning on investments so I took a look at the historical patterns for the average recovery time after a stock market decline. What I found is quite reassuring, so I though I’d pass it on.
Recovery time historically has depended on whether the decline is a “dip” of less than 10% or a “correction” defined as a drop greater than 10% but less than 20% or a crash defined as a drop of 20% or more.
Average Recovery Time for a Stock Market Correction (a drop greater than 10%, less than 20%)
“There have been 24 stock market corrections since World War II and the average correction sees the market drop by -14.3%….
However, once the market starts to turn, it can recover quickly. The average recovery time for a correction is just four months!”
Average Recovery Time for a Stock Market Crash (drop of 20% or more)
“Since 1950, the S&P 500 index has declined by 20% or more on 13 different occasions. The average stock market price decline is -32.73% and the average length of a market crash is 338 days. ”
https://www.covenantwealthadvisors.com/post/understanding-stock-market-corrections-and-crashes
I think that helps. But the thing we all have to remember is that the economy is being fundamentally changed. Those data and trends are based off 30-40 years of the complete financialization of the economy. The companies we all have in our mutual funds today might not be the same ones in our portfolios a year from now. And they might not be trading at such high values.
We are in uncharted territory.
Working in our favor is an aggressive effort to lower energy prices and an even bigger effort to eliminate federal regulations, federal employees, and federal spending. That means less interference in the economy, lower taxes, and the freeing up of human capital (government employees) to go work in the industries that are being repatriated.
It’s paper, right? The wisest retirement investors I know laugh about their paper money.
As far as the taxes go, it’s the normal dividends and capital gains that get us each year. If we have a capital loss next year, we’ll pay less taxes. It happened in 2008/9 and again in 2020. Even though we reinvest those dividends back into the fund, it’s still taxable. (1099DIV) We have some stuff that is not tax deferred, just normal mutual funds, because we don’t want all our money tied up until we retire.
So what is stopping you, or any of us, from reaching out to “the 64 year old MAGA voter who watched his retirement savings drop by $30,000 last week”??????? And asking how much reduction in actual income that will mean?
4% of 30K is $1,200. I could go in with a couple friends, and go without…I don’t know what, I don’t spent much money…but I could put a couple hundred bucks to help someone worthwhile across a patch they didn’t plan for.
Why is no one reaching for this kind of possible solution–loving and helping one another, rather than REEEEEEEing about Le Savings Drop and Les Market Losses?
Good lord, we’re supposed to be a Christian nation!
So relieved that Trump won! God protecting America.
I came across this over at TLD:
https://thenewamerican.com/features/un-tax-on-shipping-to-fund-global-tyranny/
wondering if they are trying to insert a work around regarding tariffs…and take our money.
Taxation without representation…Oh h3ll no. Not gonna happen.
A tariff-ic day indeed!
China’s posture was to be expected, and I hate to break the bad news, but they may reciprocate in terrifying ways, like using drug manufacturing to stick it to the American healthcare system, which is ironic because it proves WHY Trump’s strategy is the ONLY strategy that saves our country
Wall Street doesn’t give a rat’s ass about anything not cutting into their margins, including healthcare rationing for the lesser beings who can barely claim “…but muh portfolio….”
The real risk is that they respond militarily. Xi and the CCP will not go quietly. The dragon will, if backed up far enough, do what dragons do.
Get it’s head cut off.
FAFO.
The “good” news is that China does not have as much of a stronghold on pharmaceutical manufacturing as it does other products. For whatever reason, the manufacturing is spread out pretty noticeably among Europe and Asia. At least something works to our benefit. I would say the biggest threat is more than likely rare earth minerals. However, we have a vast supply of our own in Alaska, Texas, California, Wyoming, etc. We need to ramp up our extraction and processing capabilities as soon as possible. If China follows through in cutting them off, we can route them through other countries in the short-term.
DHS/FEMA/States have what is called a Strategic National Stockpile of medications and supplies, and they are located regionally across the country. We will be ok for a while.
If you are a Trump supporter you’ll be denied any drugs except the Covid Shot.
The problem is that this will boomerang in ways that would be catastrophic for China. There’s already a strategic shift (pre Trump) to on-shore medicine production and microchips for example. If China wants to take a short term position that involves killing Americans by cutting off medicines, Katie bar the door.
China cannot feed itself. There are ways this could go that would severely cripple their country.
It’s time for Americans to get off the pitty pot, roll up our sleeves and do the tough work we need to do to straighten this mess out.
This sky is falling crap doesn’t do any of us good.
Get back to work America.
Listening to all these people scream at the top of their lungs about markets they act like the country is dead already.
Since when are 2022, 2023 and 2024 model year cars considered “new“?
Since the Joe Biden years, of course.
There are currently nearly twice as many, never been driven, “new” 2023 and 2024 model year Fords sitting on car lots, then there are used 2022 to 2024 Fords.
Seems like CNBC and or FOXBusiness news might’ve wanted to tell you that, but that doesn’t/didn’t scare you when they wanted you to be scared.
They move the goalposts to fit the narratives.
(forget employee discounts, find a ‘new’ 23 and make a -35% cash offer)
HTL.
There’s a maxim in DC politics that says if you touch the third rail it will destroy you!
But President Trump is tossing that bit of conventional wisdom out the window with tariffs that are not only touching the third rail world in global politics, they’re tearing up the tracks, spike by spike and tie by tie…and with it, the whole globalist system designed to impoverish America!
Davy Crockett once said, “Be sure you’re right, then go ahead!” And that’s exactly what Trump is doing!
For the last eighty years what America has needed to cure what ails us is a President who doesn’t give a rat’s ass about the Wall Street pundits and legacy media’s prophesies of gloom and doom because he doesn’t think, he KNOWS what’s right for the American people!
And that’s who we have, God bless him!
> The European Union was founded for one reason: To rip off the United States. Put that in your bonnet.
God, I love that man.
Trump is right. Sundance helps so much in explaining these things.
Indeed, hold the line AMERICA! Let’s get OUR MOJO BACK.