TL;DR

Trump’s economic promises crumbled as stocks plunged, mirroring past crises fueled by deregulation and blind faith. Main Street paid the price, while the dollar’s stability—and our economic future—hangs in the balance.

Story

Trump’s pre-election boasts of a looming economic boom quickly turned to whispers of “transition” as stocks tumbled. Sound familiar? It’s the same old siren song of deregulation and trickle-down economics that paved the way for past crashes.‣ Trickle-down economics: The theory that tax cuts for the rich benefit everyone by stimulating investment and job growth—a theory with a spotty track record at best.

The market, blinded by “animal spirits,” ignored the whispers from businesses bracing for impact.‣ Animal spirits: Investor confidence, often driven by emotion rather than logic, as if possessed by an optimistic beast.

Like a house of cards built on debt and false promises, the economy teetered. Trump, predictably, shifted blame, echoing the tactics of those who steered us into the 2008 abyss. Remember the subprime mortgage crisis? History doesn’t repeat, but it often rhymes.

John, a retired teacher, saw his nest egg evaporate overnight. Maria, a single mother, lost her small business. These are the human costs of economic instability—the forgotten casualties of financial games played at the top.

The dollar’s dominance as a global reserve currency, once a safety net, now looks shaky. With dwindling allies and rising global tensions, the backstop that saved us in 2008 and 2020 might not be there next time. Are we headed for another Great Depression? Only time will tell.

Advice

Don’t trust politicians bearing economic miracles. Diversify your investments, question everything, and brace for impact.

Source

https://www.reddit.com/r/stocks/comments/1j8a96j/bbc_us_stocks_plunge_as_fears_grow_over_economic/