Trump Says a Recession Might Be Worth the Cost. Economists Disagree.
Trump Says a Recession Would Be Worth It, but Economists Are Skeptical
The only people it's worth it for are the connected billionaires who can scoop up assets cheap while the rest of us end up as serfs.
Crashing the economy is literally the point, then his rich asshole friends can acquire a ton of stocks and property while its value is low and when the adults fix it 4 years from now all his friends that got him elected will still win.
Yup. I sold $40K in stocks this morning. I figured 16% profit was pretty solid, I'm going to sit on this until after the blyat has completed his task.
Moved my retirement funds after I found out the index I was in invests in Tesla...
Thought about using the foreign index, just so I could make jokes about all my money being tied up in NICA like in Aqua Teen
I exchanged a bunch of US stock index funds for international stock index fund a week or so ago.
If you're confident in decline, you can invest in inverse stocks. They go up when the main stock goes down. Think there are even inverse index funds.
Moved a bunch of mine into SPAXX until I feel the bottom is close.
Not only economists, but everyone with awareness who uses logical thinking.
Such headlines irritate me because it still offers a modicum of validity to crazy, upon casual reading.
“Environmentalist disapprove of spraying cyanide on crops” would be a more obvious example.
Except that the ultra rich ARE fine with a serious recession, they WANT one so they can buy up shit for cheap and consolidate power.
https://en.m.wikipedia.org/wiki/The_Shock_Doctrine
The Shock Doctrine: The Rise of Disaster Capitalism is a 2007 book by Canadian author and social activist Naomi Klein. In the book, Klein argues that neoliberal economic policies promoted by Milton Friedman and the Chicago school of economics have risen to global prominence because of a deliberate strategy she calls "disaster capitalism". In this strategy, political actors exploit the chaos of natural disasters, wars, and other crises to push through unpopular policies such as deregulation and privatization. This economic "shock therapy" favors corporate interests while disadvantaging and disenfranchising citizens when they are too distracted and overwhelmed to respond or resist effectively.
This is VERY rational from the perspective of the ultrawealthy (it is really the only strategy they actually want to use if possible) it is just murderous and cruel.
The US economy is about to crash, this is the goal.
I voted for Trump because he said he would AVOID a Recession! And I'm TOTALLY ON BOARD with a Recession NOW because I think for Myself!
The rich pick up assets during g every crash, widening inequality. We need a wealth tax to start reversing some of those gains
We need a tax on unrealized gains over a certain amount (as to not screw the 99%).
Wealth tax over $10M or even 100M would still do massive good. If we can hit billionaires and reinvest that in the working class, the economy is going to go crazy
The 99% don't have any unrealized gains to begin with. Even people near the top end of that scale who do have investments have all or most of them in retirement accounts where the gains eventually get taxed as income (traditional) or not at all (Roth) instead.
Has there ever been an effective wealth tax?
Yes, absolutely. Coming out of the great depression we clawed back so much, but that's been slowly dismantled and we're back in the roaring 20s now
Things are more complicated now, but there's certainly ways to do this if we have politicians who will fight to carry out our will
The Netherlands has had one forever, and it is not in economic collapse AFAIK.
There’s also the option of additional tax brackets for those wealthy whose income still counts as income. Why do the tax brackets stop? Massachusetts has one set $1M that’s doing pretty well
Anything is worth the cost when you aren't the one paying the cost.
The United States government just announced its gonna shake it's own citizens down.
"I'm going to make the economy better by day one!"
"It's hard to predict how the economy will go"
"It's just an adaptation period it will get better"
"It's not going to be that bad"
"It's bad but it's all Biden's fault"
"It's going to be worse but it will be worth it" <--- you are here
"It keeps getting worse but it's because everyone is preventing me from going all the way with what I'm doing"
"It will all be fixed once I invade Greenland"
"I need a third mandate to fix this country that Biden has broken"
"It will all be fixed once we invade Canada"
"I had no choice but to call air strikes against these American citizens. They were not peaceful protesters, they were violent secessionist terrorists"
"I declare all journalists terrorists and ordered for them to be shot on sight"
"We are about to achieve a great victory against the secessionist forces that are surrounding the capital"
"Please don't let them shoot me"
Did you just write the backstory to the Civil War movie by A24?
He did warn us that we'd get tired of winning.
Have to commit since he doesn't know how the fuck to fix it.
At least this one we see coming like a train with no brakes.
Trump hates America
Better yet, he's making everyone from every other country hate America as well. And since 70% of Americans either voted for him or couldn't be bothered to vote (same as voting for him), American people are being blamed for being supportive of him.
It's time to start selling off some or all of your stock if you have any.
😂
Sorry what?
Don't piss on my leg and tell me it's raining, bub.
Unhinged.
Trump says, "kill camps might be worth the cost." Human rights activists disagree.
Trump would say shit tastes amazing, and his base would start eating shit every day until they get sick. They would never say he was wrong when he so clearly is.
It might be worth the cost.
Yea big gains for current billionaires which as far as trump is concerned are the only people he cares about
...for his interests. He always forget to complete the sentence.
Worth the cost for what, exactly? everything was okay until you opened Pandora s box and started throwing worms literally everywhere.
Your government is in chaos, your country is in chaos, you even made the World mi chaos and now you want a recession because....?
everything was okay
It certainly wasn't. Not that Trump is going to make anything better of course; it's worse from here on out
You where doing better then most countries in the world. But realizing inflation is happening world wide would need Americans to now there are other countries besides them.
I'm glad I sold all my US index funds last month.
Let's fucking go. Cletus might realize that he's profoundly fucked when eggs are $5 apiece.
Surely this time they'll realise it's Trump's fault. 🙄
Yuup. Fuck my 401k. I'd trade the whole think to watch Trump finally face a single consequence.
Uh huh, but worth it to who? So far all we’ve heard is some vague existential nonsense about how they have to implode the economy in order to save the economy. Based on the messaging I’ve heard all my life, “stagflation”is one of the least desirable economic modes to have under capitalism.
If we believe that the democrats didn’t properly recognize or hear the very real economic anxiety that Americans felt prior to the election, and that that disconnect in part contributed to their failure, I think we might also assume that Americans as a whole will not simply “take his word for it” that they should become homeless in order to drive crypto prices up.
If we believe that the democrats didn’t properly recognize or hear the very real economic anxiety that Americans felt prior to the election
The bothsiderists don't typically look at what the Republicans did or didn't do, except as a jumping off point to explain to everyone else how the Democrats are terrible at pretty much everything.
And certainly the unhinged base is so disconnected from reality that it would take quite a lot to wake them up, if it's possible at all. The same geniuses that could see all the same stats we could under the booming economy we just had up until January of this year, now proclaim, without even flinching that donvict was handed "the worse economy ever". We can all look at things like S&P take a gigantic downturn after donvict's stupid games with tariffs, but these guys blame that direct cause/effect on.....Biden. And people like Dollar Store Harry Potter Mike Johnson sit there and repeat the same brazen lie.
bothsiderists
Pass state level electoral reform to reduce the influence of political parties and empower the citizenry with the ability to vote outside the 2 party system without a spoiler effect. Make sides less important then policy. Introduce competition into the electoral process.
Do I really have to sell more democracy? We should naturally gravitate towards more representative electoral systems. Democrats are self proclaimed democracy advocates right? STAR or Ranked choice voting should be right up their alley then.
It's obvious democrats understand the flaws of the voting system. I will refer you to nearly any political thread on lemmy during the previous election. Time and again people will reference the spoiler effect inherent with First-past-the-post voting. It is well understood then that the voting system is flawed. Why is there no urgency in changing how we vote?
Red states, I can understand why they would prefer and protect FPTP voting. What's up with the blue states? Why are they using the voting system republicans prefer? Seems like a ultragigagigantic red flag to me.
i want to see him make a checklist of goals. on paper. to prove he can
