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It’s important to remember that the rich in the US will profit off this as the working class gets fucked, it’s not “haha trump dumb,” it’s a planned thing to increase the wealth of the super rich
So far the most ultra rich have been seeing their wealth evaporatie as most of their wealth is ties to their ranking companies, so for the moment I'm applauding it
Buy puts on the way down use the profits to buy the underlying asset at the new low price
it’s a planned thing to increase the wealth of the super rich
The prior generation of neoliberal economics was doing this just fine. Trump is being buoyed, in large part, by a generation of middle managers, professionals, and small business owners who have eaten shit through a generation of consolidation and de-skilling of advanced labor.
But his policies still suck. His neglect of critical infrastructure and his race to defund public goods and services and his clumsy implementation of pseudo-scientific economic policies won't benefit anyone in the US, rich or poor. The rich will endure the catastrophes better (probably). And they'll have the resources to flee when shit really starts to hit the fan (for the most part). But the idea that the biggest shareholders of Boeing, Microsoft, Exxon, and JP Morgan Chase are somehow positioned to come out ahead on a massive contraction in real economic production is delusional.
American kleptocrats have made the choice to rule in hell, rather than to pay a 36% marginal tax rate in heaven. And you only have to look as far as Russia, Saudi Arabia, South Korea, and Israel to see where this miserable policy ultimately leads. Sergey Brin and Eric Prince are going to trade places with Ahmed bin Abdulaziz and Yevgeny Prigozhin, entirely for the opportunity to avoid dealing with the IRS.
Buy the ticket, take the ride
Trump has gone even more bonkers today. More tariffs on Canada and threatening our country.
$5T? That's just $16K per person. No big deal.
Edit: Forgot the "/s"
$5T yet
Sort of but not really.
They aren't really "the US economy". Most of those corporations live outside the bounds of nations. They just have their HQ in the US. Manufacturing etc is done wherever is cheapest, and now they're finding out that they might have to pay real wages and real money to make things in the US.
The losses per person are lower because people from all over the world have investments in those stocks. It's been overvalued for a while and still is.
Americans will still end up poorer though, because even if they move the manufacturing, they'll no longer be able to buy things at Chinese poverty wages.
Yeah, what is that? A couple grocery trips? Small price to pay for making America so great.
It's a banana, Michael, what could it cost, $10??
Holy s***. If you have money in that Jones Trading company, you're getting played, my friend. They would allow themselves to be quoted saying that no one expected that things might not go smoothly? It's their job to plan for such things. The rest of us all expected things to go downhill, so what the heck were they doing?
Trump: This is all Biden's fault, and the Democrats.
MAGA: clapping and cheering
Me, a liberal in 2025: "Those stupid conservatives will never learn. They keep supporting the same tired crop of losers and idiots, while the situation in this country just gets worse by the day."
Also me, a liberal in 2028: "I'm extremely excited to vote for Hillary Clinton because she's the most qualified person for the job and she will definitely fix everything."
I feel like someone will be screaming at me in three years because I'll be unhappy that Liz Cheney is the Democratic nominee. It'll be the lesser of two evils, maybe.
I wish I shared your optimism that there will be an election...
