Summary
The U.S. dollar surged 1.5% and Bitcoin hit a record high after Donald Trump’s projected election victory, as markets anticipate pro-business policies, tax cuts, and inflationary pressures.
Global stocks also rose, with Japan’s Nikkei up 2.6% and Australia’s ASX 200 up 0.8%. Trump’s plans to make the U.S. a “cryptocurrency capital” and potentially increase trade tariffs, especially on China, are fueling market reactions.
Investors are now awaiting the U.S. Federal Reserve’s interest rate decision and China’s economic strategy announcement, as uncertainty looms over global trade and inflation.
Investors are, however, betting that Trump’s plan to cut taxes and raise tariffs will push up inflation and reduce the pace of interest rate cuts.
Higher rates for longer mean investors will get better returns on savings and investments they hold in dollars.
So they are hoping we’ll get more inflation so they can get better returns on their bonds, and trump will spin this as good for the economy . Fuck finance, fuck Trump and fuck this shit country.
Because investors like 1500% tariffs?
They’re betting that they can sell before that happens and someone else is left holding the bag: pension funds and 401k.
Unpopular opinion : the crash was going to happen regardless of who’s in charge. The market is long long over due for a major correction.
A correction and a crash are two different things.
This will be a crash. Virtually every economist has said so.
Because republican presidents are famously good at improving the economy; https://www.washingtonpost.com/business/2021/01/08/trump-jobs-record/
So, foreigners like me with US shares can now benefit from the fact that the US population voted for self-exploitation… Thanks, I guess… Would have prefered Kamala anyway…
Dollar goes up on admin already admitting their plans will cause a recession.
God damn this world is setup huh?
