Kospi (SK) and Taiex (Taiwan) tripped as well. China's main index dropped 7%. Hong Kong's Hang Seng index dropped 9% at open.
Europe opens pretty soon. That's going to be ugly.
Absolutely insane. We had an economy that was highly stratified with massive wealth inequality but was otherwise growing - pretty good job numbers, inflation was coming down at a healthy rate. We were doing better than almost any other country in the world in terms of recovering from the economic damage from COVID. a geopolitical situation that was very tense in several areas, but not much in the way of actual action except in Palestine.
All that, gone. A recession is guaranteed; businesses started shutting down factories and laying off people almost immediately. Tens of thousands of people likely lost their jobs Friday and I imagine it'll be even worse Monday now that the Orange Turd has made inflammatory comments insisting he's seeing great success.
Now realize that all the social safety net programs that would be vital during a recession? They're gone. Which means there will soon be a lot of very desperate people. And that means crime. And a lot of foreclosures. Guess what that means? Real estate market crash. That means that boomers watch their homes tank in value.
Mr. Very Stable Genius put oil production and export at the top of his list and the price of oil is plunging, too - the market likely anticipates a huge drop in global and local shipping.
To top it all off, while the market tanked, he was golfing and schmoozing with people who had paid millions to his campaign to sit at his table and get a few minutes of his time. Practically playing his violin while the country's economy burns.
He's spent the last 4-5 decades obsessing about this. It's his white whale. He will not blink. He won't surrender. If there's anything he hates more, it's looking weak. The only thing that will stop this is someone pulling him out under the 25th amendment; I think that is the sole reason he's stacked his cabinet with the imbeciles that he has - they're loyal imbeciles.
Putin is laughing his ass off right now. He's won. He's gotten his revenge for the economic damage done to Russia after much of the world slammed the door on them and I'd guess Ukraine falls within months at most.
Pooh Bear is laughing too and will probably try to invade Ukraine.
Israel is going to finish wiping out the Palestinians.
And who do we have in charge of our military? An alcoholic, wife-beating, ultra-right christian white nationalist Army captain who is more concerned about people being clean-shaven than anything else.
Did I mention that US antipiracy efforts are likely being strongly cut which means world shipping is going to get a lot more dangerous, expensive, and unreliable?
I think you went into stable genius territory yourself in the second half.
> I'd guess Ukraine falls within months at most.
Even if the US stops all deliveries -- which is far from certain, judging by the noise Trump made in the past week -- Ukraine won't run out of supplies. They'll keep trading territory and even if that accelerates, it will take a long time to reach Kiev (which isn't guaranteed to lead to capitulation anyway, Ukrainians are pretty determined). Meanwhile it looks like Russia is running out of armaments itself and the domestic situation is heating up such that another mobilization is quite risky.
> Pooh Bear is laughing too and will probably try to invade Ukraine.
This is a laughable suggestion. Sure, if Russia annexes parts of Ukraine, China will gladly send construction and mining crews for a friendly price and a cut of the profits, but they have absolutely no reason to send soldiers to Ukraine. In the first place it is not their conflict. They are only "allied" to Russia until they can fully bring Central Asia under their control and build up the infrastructure to replace Russian hydrocarbons and raw materials.
Sending the PLA also runs the risk of exposing their weakness, which would damage China's position in the region. Much better to keep it as the huge threat it is on paper.
> Did I mention that US antipiracy efforts are likely being strongly cut which means world shipping is going to get a lot more dangerous, expensive, and unreliable?
Yes, but the PLN is more than ready to take up this role. They have the bases, the ships and have been training like mad. Since freedom of navigation is very important to China (for now), we might see some strange bedfellows there.
That's a bad guess. Ukraine has destroyed ~4000 Russian main battle tanks, a 3rd of the Black Sea fleet and many more thousands of pieces of equipment so far. They have proven how effective they can be defending their country. US cutting their support would be a big blow, no doubt, but Ukrainians can stay in this fight for a long, long time just with the EU support.
Europe opens pretty soon. That's going to be ugly.
Absolutely insane. We had an economy that was highly stratified with massive wealth inequality but was otherwise growing - pretty good job numbers, inflation was coming down at a healthy rate. We were doing better than almost any other country in the world in terms of recovering from the economic damage from COVID. a geopolitical situation that was very tense in several areas, but not much in the way of actual action except in Palestine.
All that, gone. A recession is guaranteed; businesses started shutting down factories and laying off people almost immediately. Tens of thousands of people likely lost their jobs Friday and I imagine it'll be even worse Monday now that the Orange Turd has made inflammatory comments insisting he's seeing great success.
Now realize that all the social safety net programs that would be vital during a recession? They're gone. Which means there will soon be a lot of very desperate people. And that means crime. And a lot of foreclosures. Guess what that means? Real estate market crash. That means that boomers watch their homes tank in value.
Mr. Very Stable Genius put oil production and export at the top of his list and the price of oil is plunging, too - the market likely anticipates a huge drop in global and local shipping.
To top it all off, while the market tanked, he was golfing and schmoozing with people who had paid millions to his campaign to sit at his table and get a few minutes of his time. Practically playing his violin while the country's economy burns.
He's spent the last 4-5 decades obsessing about this. It's his white whale. He will not blink. He won't surrender. If there's anything he hates more, it's looking weak. The only thing that will stop this is someone pulling him out under the 25th amendment; I think that is the sole reason he's stacked his cabinet with the imbeciles that he has - they're loyal imbeciles.
Putin is laughing his ass off right now. He's won. He's gotten his revenge for the economic damage done to Russia after much of the world slammed the door on them and I'd guess Ukraine falls within months at most.
Pooh Bear is laughing too and will probably try to invade Ukraine.
Israel is going to finish wiping out the Palestinians.
And who do we have in charge of our military? An alcoholic, wife-beating, ultra-right christian white nationalist Army captain who is more concerned about people being clean-shaven than anything else.
Did I mention that US antipiracy efforts are likely being strongly cut which means world shipping is going to get a lot more dangerous, expensive, and unreliable?