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[+] 87 points 8 months ago* (last edited 7 months ago) (14 children)
  • [–] 70 points 8 months ago* (1 child)

    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

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  • [–] 19 points 8 months ago (6 children)
  • [–] 8 points 8 months ago* (last edited 8 months ago) (3 children)

    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.

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    [–] 73 points 8 months ago (1 child)

    I think you'll find it's a big beautiful drop. A tremendous drop. Everyone is saying it's the best drop ever!

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  • [–] 58 points 8 months ago (7 children)

    The was on the Project 2025 roadmap. Cheaper to export things when the dollar is cheaper.

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    [–] 52 points 8 months ago
    [–] 33 points 8 months ago (2 children)

    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.

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  • [–] 31 points 8 months ago* (19 children)

    Interest rates dropping, prepare for inflation, and prices, to surge.

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    [–] 24 points 8 months ago* (18 children)

    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.

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  • [–] 7 points 8 months ago (3 children)

    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!

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    [–] 20 points 8 months ago (4 children)

    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".

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  • [–] 23 points 8 months ago*

    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.

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  • [–] 14 points 8 months ago (2 children)

    Don't worry, nothing will change, it will still be Obama's fault somehow.

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  • [–] 6 points 8 months ago*

    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.

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  • [–] 16 points 8 months ago (2 children)
  • [–] 14 points 8 months ago (1 child)

    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.

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    [–] 12 points 8 months ago (1 child)

    Why would Sleepy Joe Biden do this? 🤷

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    [–] 8 points 8 months ago (6 children)

    The Greenback has really outlived it's purpose as world reserve currency because the government and central bank can't be trusted with fiscal discipline. It may improve post Trump

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    [–] 8 points 8 months ago

    Ah yes, the "Biden economy" at work. 🙄

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  • [–] 8 points 8 months ago

    ah yes, dollar, my favourite currency

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  • [–] 7 points 8 months ago (1 child)

    Must be all that winning b

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    [+] 5 points 8 months ago
    [–] 5 points 8 months ago (2 children)

    Cool, does this mean the Steambox will become cheaper, or is it made in China anyway?

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    [–] 5 points 8 months ago

    The US is a literal house of cards. Would love for the world to finally move away from the US dollar as reserve currency.

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