Summary
Americans nearing or entering retirement are alarmed as Trump’s sweeping tariffs trigger stock market turmoil, shrinking 401(k) savings. The Dow dropped over 2,200 points Friday, with the S&P 500 and Nasdaq also falling sharply.
Retirees report losses up to $58,000 and are delaying major purchases. Critics warn the tariffs could spark a global trade war and worsen economic insecurity.
Many retirees fear declining consumer confidence, unstable finances, and a diminished quality of life as their savings evaporate.
markovs_gun@lemmy.world 3 weeks ago
Good. These dumbasses mostly voted for this, and they’re getting their reward.
JoMiran@lemmy.ml 3 weeks ago
That’s an inaccurate generalization. The more likely scenario is that only about half of the people affected voted for Trump. There are a lot of innocent people getting fucked here.
navigatorresearch.org/2024-post-election-survey-g…
Winthrowe@lemmy.ca 3 weeks ago
I feel bad for the children who aren’t old enough to do anything about it, but Trump is the symptom not the disease, which has been metastasizing as long as I’ve been alive.
FlashMobOfOne@lemmy.world 3 weeks ago
Exactly.
But try hammering that through a partisan’s skull. Very difficult.
sj_zero 3 weeks ago
Actually, boomers are mostly leftist. It's the young who are really flocking to the right these days.
The boomers voted Republican for more tax cuts during their prime earning years, but now they're all collecting government benefits so they're Democrats again. It was their biggest voting bloc in the last election.
It's actually the case around the world that the youth, and particularly young men, are shifting hard right.
danc4498@lemmy.world 3 weeks ago
Looking at the exit polling, it’s pretty split with the 65+ crowd. Democrats lost a lot of young voters, but still have the majority of the youth.
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2016 by comparison
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CarbonatedPastaSauce@lemmy.world 3 weeks ago
You’re underestimating that generation’s ability to hate non-white people. A lot of them care about that hatred enough to sabotage themselves in other ways.