4.8 • 1.7K Ratings
🗓️ 8 April 2025
⏱️ 22 minutes
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Wall Street tanks as China retaliates against Trump’s tariff hike, wiping $6.4T in two days. PBD and crew debate market crashes, wage stagnation, and why young investors feel robbed of opportunity. Heated takes, bold claims, and real talk on tariffs.
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0:00.0 | The Dow Jones Industrial Ever plummeted more than 2200 points on Friday, following 1679, |
0:05.8 | previous job, marking its worst session since the start of COVID 2020, as Wall Street's bloodbatt, |
0:13.4 | erased $6.4 trillion of market value just in two days due to China's retaliatory 34% levy on U.S. |
0:20.1 | imports, starting April 10th, in response to Trump's reciprocal tariff plan imposing a 54% tax effect of April 9th, the tech-heavy NASDAQ fell 962, 5.8% entering bare market territory with a drop exceeding 20% from his December peak, while SMP 500 declined 322 points or 5.97 amid global stock market descent, driven by fears that Trump's 10% baseline tariff would harsher rates for many nations could stoke inflation and trigger a recession as noted by Federal Reserve Jerome Powell, |
0:58.6 | who warned of a potential persistent risk in inflation. |
0:59.9 | Brandon, your thoughts on this story? |
1:01.7 | Yeah, so a lot to cover here. |
1:05.9 | So, I mean, first and foremost, I'm super happy that the market's starting to go down. |
1:07.7 | I think, honestly, you know, people are going to hate this, |
1:12.7 | but I think the best case scenario for the most people would be if the market goes down by something like 50%. 50%. Yeah, because I mean 10% of people own 90% of the stock market. So like the vast majority of people own the stock market are, you know, the top 10%. And, you know, 50 years ago, I looked this up. So like, what would you guys imagine it took for amount of hours |
1:27.6 | worked to buy a share of the SP 500, say in 1970? What would you guess? 20 hours? Yeah, no, |
1:33.5 | exactly right. Was it really? Yeah, right. Hey. You know what it is today? 60. 170. To what? To |
1:40.6 | do what? To buy one share of the SP 500. You need to work 170 hours today to buy one share of the SMP 500, but you have to work 20 hours 50 years ago to buy a share of SMP 500. I have my opinions, but I want to hear it. Keep going. Yeah, no. So I mean, we've, and this goes into what we do with China. So when we got off the gold standard, when we started off showing our jobs to China, we, that's where the wealth gap really widened between the working class of America and, you know, so when we got off the gold standard, when we started offshoring our jobs to China, we, that's where the wealth gap really widened between the working class of America and, |
2:04.5 | you know, the people who run companies in America, like, because profit margins got bigger, |
2:08.4 | and then wages didn't keep up with the stock market growth. So we've essentially, like, |
2:12.6 | decimated our middle class. And, you know, for young people, too, like, I've been waiting to buy the dip for 15 years now, and there hasn't been a dip to buy. You know, some people might say like COVID, |
2:21.0 | but we just pumped money into the economy right away. Some people might say 2008, but we did |
2:25.1 | quantity of easing right away after that. So we have... |
2:27.2 | Brandon, how are you? How would you? Just turned 30. |
2:29.1 | Just turned 30. So 15 years was 15 years ago. Yeah, but waiting to like really feel like I could buy the dip for 15 years and, you know, |
2:34.9 | it hasn't come. |
2:35.4 | At 15 years old, you were looking at investing. |
... |
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