So are you trying to convince me that Trump is actually a good president?
he’s for the people
The great equalizer.
And the Tesla stock is still massively overinflated.
The loss is mostly even to the gains after trump was elected. It shot up like 80% after the election and is now back down to its October level, and it’s not like the October level was sane.
Data is ugly: this does not contextualize gains made in the tail end of the election and upto the inauguration. This miscommunicates the harm done to them. The economical harm must grow.
Also although this is nice to see. It’s alongside average American person having serious financial compression. Everyone above still has billions of dollars. They don’t care. The average American is deciding between food, rent, heat or meds right now. As I see a lot of “FAFO” I see this getting a lot worse through the summer where energy prices will surge.
Seriously, TSLA is still at the same level as it was on November 5.
Basically there was a completely un justified bubble in the past few months, driving it up to double what it was worth for years.
Tesla was always an unjustified bubble. Even after these losses it has a market cap of ~800B compared to Toyota at 295B. Despite Toyota selling 10.8 million vehicles to Teslas 1.8 million last year. Assuming similar profit per vehicle tesla should be worth ~50B, assuming 3 times the profit, tesla should still max out at ~150B. There’s a long way to drop yet.
Sad fact, though, is that these guys can’t lose money without everybody also being affected by it. Except for maybe Tesla, since it is easy to just not be invested in that bullshit. I imagine Amazon just goes up and down with the rest of the economy.
I look at this and all I can think is “we can do better”.
and we will. we just started
Touching grass isn’t enough. I need bad things to happen to evil men in power.
Short term losses let’s see how they fare in the long run since it seems we are blazing the way into a cyberpunk future.
Now that you mention it this infographic would look right at home in any dystopia movie.
Sigh, Trump will just pump tax payer money into them during the recession…
The world does not need (should not have) billionaires. When you have a couple of millions, it’s enough to last you a lifetime.
Like, you get a golden crown in exchange for the extra wealth, like, congratulations like, good job, like, amazing.
Now go retire on an island of something.
In which fairy tale world do you live that a couple of millions is enough to last a lifetime? Can’t even buy a house here with a couple of mil… And then you’re forgetting about the inflation. A couple of mil is nothing.
Is most of the world a fairy tale to you?
'few million".
Housing markets are over inflated because billionaires are the ones buying up and driving up prices.
Can someone do the math if 2 million is enough to live comfortably? (per adult in the family)
In most places you can buy a house for half a mil, and just put the trest in stocks and pull a monthly salary
There’s a rule of 4%, meaning that you should not withdraw more than 4% of your investments per year to keep the ball rolling. To cover the US average salary you have to have $1.65m invested. Good luck finding a house for $450k and living without medical insurance.
If you want to have insurance, then your 4% minimum rises up to $1.875m. And I really don’t think you can buy any house for $125k…
The problem with people who think that $1-2m is enough is that they were born in the 1980-s or something when $1m was a lot of money. But inflation is a thing and that money is not enough anymore. If you ask me, $10m is a bare minimum today to be set for life and not to worry about finances ever.
Good luck finding a house for $450k and living without medical insurance.
I have to say, thats still a large swath of the US. Also depending on the interest rate, it could be better to have the mortgage rather than bought outright.
I also know a few folks who do just enough work to get medical insurance, and they really enjoy it that way. They have enough from their investments, and the ~30hr/wk they work is enough to get medical, dental, and vision. One works a horse stable, another worked at Starbucks for a while (when it still seemed like a decent company). At that point, there was enough return from investments that she started her own coffee shop (and brought in a couple other employees from Starbucks she really liked working with).
$2 million is still plenty for most people.
Edit:
Max $450k, 4br, 2ba, sorted by price high to low.
You can get more for less depending on location, but there you go.
If you’re withdrawing the average US salary, that would also cover mortgage payments, so you could put the entire 450k down on a more expensive house and still live comfortably. Most people making average salary don’t own their house outright and pay nothing for housing. So yeah, by your calculations 2m is more than enough.
It really really depends on your standard of living too. This number will be different for everyone. Some would be happy with 125k house, it’s small and nothing fancy, but the 5 bedroom 2 car garage house, not for everyone.
Where are you finding $125k homes that arent previous crackhouses?
Anywhere outside a major city in the Midwest. If you don’t have to work any more and worry about commute then you can get a decent house in the country.
An older small house 30+min from a smaller city with some fixing to do.
Previous crackhouses are more likely to be auctioned or sub 100k in all but the craziest areas.
There are a lot of ifs, sure. That’s another reason why a blank statement that $2m is enough is plain wrong.
Depends very much on where you live and what counts as comfortable. In Canada one mil basically buys you a crackshack in Vancouver or a older four bedroom out in the country. Retiring with an additional mil in the bank might not be super “comfortable” as in going on regular vacations, affording property taxes and so on…
But yeah, most places aren’t like that.
Yea housing in Canada sounds pretty fucked. I live in Amsterdam we have a housing crisis but half a mil can get you a decent place.
If you put the other 1.5mil in investments and pull 50k per year out as a salary with no mortgage to pay you can probably live quire comfortably for 40 years. (no crazy vacations and stuff)
Amsterdam is also one of the most expensive cities in the world, so I think with 2mil you’ll live comfortably in most places in the world
Now show us wealth changes for Russian oligarchs since he took power.
I’m gonna do a morris dance for more losses. Let’s bankrupt them all before the summer solstice.
Almost 50% of a company’s worth gone in 2 months. Tesla really is leading the race.
Ahw yes. Bleed those fuckers dry.
I fear this will only be temporary. I really hope this trend continues.
These are rookie numbers! We need to pump them up!!!
Finish him!
trump is secretly a socialist trying to redistribute wealth! :O
critical support to comrade trump! /s
How is he redistributing wealth exactly? I’ll tell you how: all the poors will panic sell their shares now (you can see loads of comments to sell on Lemmy), the rich will bulk buy them at discount, wait for a few years and will cash out record high dividends increasing the wealth gap much further.
The economical ignorance of a typical Lemmy user is just mind blowing… I mean, do you people have any school level education at least?
You know it was probably a joke, right?
This way of thinking is sadly not. Look at other comments, lemmings think that these billionaires have lost something, lol. They don’t realise that wealth is not money and literally nothing has changed in the lives of Zuck and Musk.
Did you not see that pathetic display at the whitehouse yesterday. It’s definitely bothering Elon
Henry Ford was also bothered when he got sued for anti-Semitism, yet he walked away still rich and his company still dominates US car market. I mean, the longer you live in a delusion the poorer you’ll end up. You do you, I’m just trying to warn you.
Poor people don’t have shares lol what are you talking about?
Of course they do. Even if not directly but by proxy through a pension. Pretty much everyone has investments. Are you 15 years old or something?
Fewer than 13 million USAmericans have pensions. In fact, nearly half have no retirement plan at all.
That’s what being poor actually means. Did you grow up rich or something?
No, I grew up and still live in a civilised country where every working human has a pension.
What kind of pension is panic selling tesla stock?
401ks and pensions are in passive safe funds that aren’t usually being actively managed. If they are they are looking at the long term and will hold unless there’s some sort of economic collapse happening.
