It doesn't seem that long ago that this would have been a scandal but now with the moron in the Oval Office creating his own meme coins without even trying to hide his business interests, and now the president of Argentina is doing the same shit?
Is this really the world that we want? I mean, I guess the answer is "yes", but I don't have to like it.
> "A few hours ago I posted a tweet, as I have so many other times, supporting a supposed private enterprise with which I obviously have no connection whatsoever. I was not aware of the details of the project and after having become aware of it I decided not to continue spreading the word (that is why I deleted the tweet)."
Either the headlines know something we don't know to say he "backtracks on a memecoin" and "Argentinian President Milei launched a memecoin, $LIBRA" or they are not true. Given the context, it seems to be the latter, so I wonder why they'd be lying?
If I drive drunk and then hit someone with my car, I'm not immediately forgiven just because I called 911 and offered to pay the hospital bill.
Also, it wasn't "just a retweet". He literally wrote that he supported it.
I don’t like most politicians, but if Bernie Sanders (someone I do like) blanket retweeted a crypto scam, I would say that that’s bullshit. Unless he was the biggest moron on the planet, he would have to know that a retweet will be read as an endorsement by a large number of people.
A public figure, particularly a high-profile elected figure, particularly a figure who is in charge of how laws are enforced, should be held to a high standard.
But as other people have pointed out, it actually wasn’t just a retweet.
No, he wrote the Tweet himself. His words, not a retweet.
It’s right there in the article. I don’t know why people are trying to defend him and rewrite the story.
Really not sure why you say that with such authority.
https://www.history.com/news/roaring-twenties-scams-ponzi-wa...
It happened in the 20s, before 2008, and it's happening again. Trump doing this is an extra level of depraved, and I suspect the coming crash will follow suit.
Normally I'd buy treasury bills, but honestly considering that Elon has been fucking around with the treasury's code with no oversight, and considering that Trump's big strategy for eliminating national debt has been to "declare bankruptcy" (whatever that would even means in regards to an entire country that is the world's reserve currency?), I'm hesitant to even do that.
I wonder if I should look into seeing if I can buy bonds for the EU equivalent of the US treasury...
Honestly, the rule with indexes is buy and hold. Although I'm confident we have a crash incoming, unless you need the money soon, you should just hold your index funds and add everything you can to it at the bottom. You'll also have to pay taxes on the realized gains if you go to cash. I do believe that Trump's entire presidency is going to be a massive crash, temporary rebound, and then downtrend through 2028. We will probably not return to highs until the 2030s.
I more or less came to the same conclusion that you listed; I don't really want to create a big taxable event, so I think right now I'm going to keep the stock I have, and in the shorter term keep future income in a savings account for awhile and suss out if there's going to be a crash or not.
Obviously you can't really "time" the market but it's a pretty low-risk experiment on my end.
Ah, but remember the tariffs stuff; you could be looking at _pretty dramatic inflation_ depending on how that works out (personally I suspect he will be ultimately unable to do that much for long; there is likely a level of market disruption at which he will be Liz Trussed, but who knows). All is risk.
> I wonder if I should look into seeing if I can buy bonds for the EU equivalent of the US treasury...
No such thing; the EU doesn't really have debt-raising powers. This confuses people, but the EU/EC is _not_ a conventional government, and has only a tiny budget (170bn this year). You can buy European sovereign debt, but it's on a per-country level. Bear in mind that by doing this you'd also be taking on currency risk. Personally I wouldn't touch sovereign debt denominated in another currency; YMMV.
(With Trump, the dynamic is a bit different, at least for now; he claims to want to do all sorts of absolutely bonkers things, and the markets are generally going "well, yeah, but you're not really going to, are you?")
I might look into one of the “total world” funds instead of just the US based ones like I usually do.
(You may be _slightly_ late. After years of not doing anything much, European markets are up about 10% YTD, Chinese even more, vs S&P500 4%. There's always a bubble, somewhere...)
I was looking into the VT Vanguard fund. I already own a few shares of that, I could always buy more.