Markets will still consider it a win if Trump does not else good in the next 4 years except for extend the “tax cuts and jobs” billionaire and corporate handouts. He seems to be failing at that and DOGE has only made it harder in for Congress (in a budgetary sense) for them to do it.
This is actually kind of funny. Because his first term is more or less considered successful in financial circles, (COVID aside). But the entire time he was fighting with aides, bureaucrats, etc… who kept either getting in his way or talking him out of his crazy or stupid ideas. Now he’s removed all the safeties and we’re getting full Trumpism with all the horrible financial decisions it brings.
Rentlar@lemmy.ca 3 weeks ago
Buelldozer@lemmy.today 3 weeks ago
Markets will still consider it a win if Trump does not else good in the next 4 years except for extend the “tax cuts and jobs” billionaire and corporate handouts.
Of the Top 10 most profitable companies in the world 8 of them are American. Those 8 companies lost enough Market Capitalization in the last 24 hours to fund a mid-sized Country. “The Markets” are not fucking happy at all.
echodot@feddit.uk 3 weeks ago
Trump is making more enemies in business than the most liberal of democrat presidents could ever do. That’s impressive.
InvertedParallax@lemm.ee 3 weeks ago
He wasn’t successful at anything.
He slashed the corporate income tax and due to an effective amnesty on repatriation many large MNCs brought stashed offshore cash and cut R&D to register massive earnings for his last 2 years.
Ironically, this started to dry up right around Q1 2020… Then COVID drowned out everything.
His response was to just pump $4T to employers with almost no documentation, thank god we didn’t see a massive wave in inflation out of that.
HubertManne@piefed.social 3 weeks ago
lets not forget browbeating the fed to drop interest rates before covid hit.
sploosh@lemmy.world 3 weeks ago
Where are you that hasn’t seen massive inflation since COVID?
fouloleron@lemmy.world 3 weeks ago
I think that was the joke.
NikoWantToGoBowling@lemm.ee 3 weeks ago
Okay this post reeks of not understanding basic accounting. Bringing back cash doesn’t affect profits for firms. The earnings were already earned. Having money over seas and bringing it on shore does not increase your profits, it just frees it up for investment (or giving to shareholders).
Also cutting R&D does not change profits in the short term. Any amount of R&D doesn’t change profits in the short term (either less or more). R&D is treated as an asset and depreciates over time (which does affect profits) but that’s clearly not what you’re saying here.
The rest of your post I’m not arguing with but your understanding of accounting and how offshore money works is factually incorrect.
InvertedParallax@lemm.ee 3 weeks ago
bea.gov/…/direct-investment-country-and-industry-…
NikoWantToGoBowling@lemm.ee 3 weeks ago
Right and at no point are you saying that earnings/profits were impacted by the tax amnesty and money being brought back on shore.
Your link says that the most predictable thing happened- all that money sitting over seas was given back to its owners (shareholders).
Absolutely none of this affected profits for that year. Mind you, that money was not being used for R&D anyways - it was sitting in bank accounts or bonds waiting for a moment like this to come back and be handed out to shareholders.