Why would Sleepy Joe Biden do this? 🤷
Have we already reached a tipping point for the USD as a reserve currency?
If not will this make that happen?
Because the real “shit hits the fan” moment will be when the rest of the World dumping USD assets (most notably, Treasuries) starts snowballing as those still holding assets valued in USD start getting hit by dollar devaluation due to others having dump USD assets, pushing them to sell dollars and dollar-denominated assets to avoid further losses.
Given just how large of a fraction of their currency is held by foreigners, a snowballing aversion to holding dollars is the kind of thing that can result in hyperinflation in the US.
Somehow, even while blaming tRump for their plight, Republican voters will continue to support tRump, even as they lose everything they and their family have. It’s so fucked up!
He let them use the n-word again without getting embarrassed. That’s what they love him for.
I’ve personally been using it like that for my entire freelancing career of over 20 years. Not since last year though. I’m not staying on a sinking ship.
FAFOOOOOOO 🎊
Have the day you voted (or abstained from voting) for!
The US is a literal house of cards. Would love for the world to finally move away from the US dollar as reserve currency.
This is already being written down in the history books because of how devastating it is at home and abroad. You can look up Trump-Futanari inflation if you don’t believe me.
Hmm. Guess I shouldn’t have invested my kids’ college fund in futanari bonds after all.
I think you’ll find it’s a big beautiful drop. A tremendous drop. Everyone is saying it’s the best drop ever!
Big beautiful drop!
The was on the Project 2025 roadmap. Cheaper to export things when the dollar is cheaper.
Things like soybeans? They really are complete fucking idiots.
And inflates away the massive US debt.
And increases the pressure for plebs to invest
The plebs don’t have anything they could invest.
That’s quitter talk. We could be even more paycheck to paycheck, taking out more debt. Some people still selfishly hoard a month’s savings and only 5% of us take out payday loans.
The heritage foundation is an enemy of the American people
Let’s not limit it to the US
Cool, does this mean the Steambox will become cheaper, or is it made in China anyway?
It would have to be 100% made in USA for it to be cheaper from a weaker dollar, so no.
Y’all remember dollar menus at fast food places?
I remember a sack of potatoes costing 1.50. I remember rent costing 450. I remember chicken being less than 1 dollar per lb. I can even remember when healthcare and higher education was a reasonable price. But hey! At least the rich are getting richer
$5 subway sandwiches.
Excuse me… “five dollar footlongs”
It really pisses me off how expensive Taco Bell has become when they have always served low quality cheap food.
True, but it’s still the cheapest fast food place.
and dollar per gallon gas
Which is what got us into the whole climate mess. Pollution being too cheap
Polluting is essentially the only free thing left.
I was able to get gas for near $1 after the 2008 financial collapse at a Rutter’s somewhere in eastern PA. It was amazing.
yeah but the real price you paid was being in Pennsylfuckingvania
What the fuck is up with the beer laws there? I had to stop overnight due to car troubles and I had to walk for like 2 miles to find a gas station to get a six pack. I saw a walk in soda cooler at Sheetz.
woah - lucky
Y’all remember when you could get a shave and a haircut for 2 bits?
ah yes, dollar, my favourite currency
Interest rates dropping, prepare for inflation, and prices, to surge.
PSA for those needing the reminder: Anyone with any savings should be keeping it in a brokerage account (eg Fidelity, eTrade, Vanguard, etc). Savings accounts at banks don’t pay you anywhere near enough interest to keep up with inflation. But with a brokerage you can put that money into a managed fund, which is in turn investing it into the parts of the economy where all the value is going, returning that value to you at like 5%-20% per year. It doesn’t need to be a 401K account connected to your workplace, it can just be a standalone account with regular tax. Even after the gains tax it’s like an order more growth than a savings account and usually outpaces real inflation. Even if the fund’s holdings include things you don’t find 100% ethical, it’s likely what a bank is investing your savings account money in anyway - Just without sharing the profits with you.
What a fun game. The only way to earn interest is to fund capitalistic ventures that got us here in the first place.
Nah, just buy gold. Gold has consistently outpaced inflation in just about every time period as high inflation leads to a skittish market who invest in gold and cause the price to buoy. Given the current AI bubble combined with the Trump Effect on global economics, my gold investments have made a killing over the last 12 months and continue to perform really well - even with the dip over the last couple of days.
We never should have got off the gold standard.
Investing everything in one precious metal is terrible advice. It’s never going to outperform the market, it literally only helps you in the event of catastrophic market collapse, and if that happens you’re never getting it out. Even if you were somehow able to, you’d only be able to withdraw it in dollars anyway, it’s not like you have a physical pile of gold in a vault with your name on it.
Fair, and that’s why I personally have a portfolio of metals, but gold regularly outperforms inflation - especially in troublesome economic times such as we’re in right now.
Even if you were somehow able to, you’d only be able to withdraw it in dollars anyway, it’s not like you have a physical pile of gold in a vault with your name on it.
Not sure what the rules are where you’re from, but I have a literal pile of gold, platinum, palladium and silver bullion in a safe in my home. Yes, I absolutely have a physical pile with my name on it - when I decide to put a sticky note on it and write my name on it.
Ill gladly refinance my mortgage, but at what cost?
what cost?
Closing?
Depends on the lender but usually like $4-8k. It’s bet that you won’t want to change the terms of the mortgage again until your balance is lower than it would be otherwise.
The euro has had the biggest gain of the major currencies against the faltering dollar, surging nearly 14 per cent to above $1.17
That’s for 2025.
Wall Street banks expect the euro to strengthen to $1.20 by the end of 2026
So 3 cent decline for the dollar for 2026, that is pretty stable if that holds.
The headline must refer to what has already happened, but then why is it “on track” instead of it being already a fact?
Or does the author not believe the Wall Street banks?Anywho I don’t believe the dollar will only decline 3 cents against the Euro in 2026.
The American economy would clearly be in declining growth already, if it wasn’t for the AI bubble. I suspect this to become clearer when job numbers for January and February 2026 are released.
The completely irresponsible federal budget for 2026 probably won’t help either, and the Trump administration is almost guaranteed to make things worse as they continue their crazy policies, with or without Trump, I don’t think that really matters much. The rest of the administration is as crazy as Trump is.That should be interesting politically, given that Pew polling showed that the top concern for Trump voters in 2024 was “the economy” and within that category, the top concern was “prices”.
The big question is whether they really mean that, and then whether they really notice what’s happening. They may just assume the old false myth that the Republicans are better at managing the economy and double down on their support. Or they may just not want to admit that they don’t care about the economy so long as the government is hurting LGBTQ+ and brown people.
Don’t worry, nothing will change, it will still be Obama’s fault somehow.
Oh, having whilst in the Finance Industry seen exactly what the Obama administration did in the aftermath of the 2008 Crash, he at the very least tilled and fertilized the fields from were this harvest is coming.
His “save asset holders at any cost and have the rest of society pay for it” approach accelerated wealth concentration, inequality growth and the destruction of social mobility in the US, which amongst other things helped Trump swindle a lot of desperate working class people to vote for him, plus also inflating a number of asset bubbles, most notably realestate.
Just because Trump is even worse doesn’t make Obama a competent steersman of the US Economy.
Did you see that audacious tan suit bruh
Are we great yet?
No. You must suffer a little more for us to be great.
I’m tired of winning boss
