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Even if it is true, then USA is still hilariously prosperous, also for average American workers. It could be better, but denying prosperity is not honest
and down 7% over last 5 days, 11% over last month, 13% over last year. If you take since Trump inauguration it gets worse.
Yes and that is the point of this excercise. Making things better for the average American.
I think the average American is being quite honest when they say rising costs for everything combined with stagnant wages does not leave them feeling very prosperous. This recent canard of insisting that the working class disbelieve their lying eyes and consider themselves lucky is very strange to me, especially since it usually comes from those who claim to be advocates for the everyman.
And theres approximately 10,000% more media hysterics now than in say, 2022 when it was down roughly 20%. This is not whatsboutism, but rather praise for the recognition then that markets get overheated and correct, and number does not always go up. I remain unmoved, and will contiue to DCA as always.
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People getting way poorer from stocks crashing than from tariffs, which aren't even going to be that bad in terms of projected increase in inflation (2-3% overall). Whole thing feels like a huge overreaction. Stock valuations are based on multiples, so a small loss of profits can mean a large decrease in share price.
I'm genuinely curious about a projected 2-3% inflation when imports are all increased in cost by >10%, and that includes a lot of input costs for domestic goods. It doesn't pass the sniff test. I'm open to being educated about it though.
Not all goods are imported, raw goods are only a fraction of the cost of a good. So it evens out to much less than 10%. A large percentage is advertising . For a $5 cup of coffee Starbucks, only a tiny percentage of the price is the raw goods.
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